Gain rewards
Although it is downright risky and even foolhardy to run up credit-card bills one cannot pay back , many expert consumers have the ability to exploit credit card reward plans for airline mileage , hotel points or hard cash on-hand .
“ Utilize credit cards that offer reward for things you often purchase ,” says Diane Morais , chief executive officer and president of Ally Bank , subsidiary of Ally Financial Inc .
Open a new credit card which provides a minimum buying limit , such as the Ally CashBack Credit Card , which offers a $ 100 bonus when you spend $ 500 in eligible purchases within the first three billing cycles , and gives 2 % cash-back at gas stations and grocery stores , as well as a 1 % cash-back on all other purchases – including 10 % bonus on rewards which you deposit into a qualified Ally Bank account .
It is not necessary to open a new account if your present credit cards to avoid fraud and also offer promos or cash-back schemes , allowing you to earn substantially on daily purchases .
Consider the above tips and aim to become a strategic consumer – one who spends wisely and saves productively .