Sort Of Secret Things You Can Do With Your Credit Card Than Just Swipe And Shop
Nowadays, every other person has a credit card. In fact if you’re on this site, you might two, three, or more! However, one of the common things that I have seen in many people is that although they own a credit card, they do not know all the potential things they can use their credit card for! Your card has SECRET Abilities!! OK..not so secret at all…but certainly many things are overlooked and we’re going to show you a few.
Many people think that credit cards are just meant for swiping at a shop. However, there is much more to credit cards than just swipe and shop. In order to forge a fruitful and positive relationship with your credit card, you must atleast know what all things you can do with your credit card.
1. You can choose from a wide variety of different credit cards
Credit cards come in different types. Generally, credit cards are categorized according to the different types of rewards they offer, such as travel, airline, hotel, fuel, lifestyle, cash back, etc. Apart from these, there are general purpose credit cards and private label retail cards. The former ones can be used anywhere, whereas the latter ones can only be used at the issuing service station or store. If you need a great card, the Citibank Rewards card remains one of the best in 2016.
Moreover, there are secured credit cards and unsecured credit cards. Most of the general purpose credit cards are unsecured, which means they are issued primarily as per your credit history. On the other hand, secured credit cards have the backing of your funds, which you put in the deposit account of the issuing bank. The creditor can claim this amount, in case you fail to pay off your card.
2. Learn about your rewards program
See what type of rewards program your credit card offers. With some credit cards, you can easily earn rewards, whereas with others you may have to register before your earn rewards. So, check out what are the requirements of the rewards program of your credit card. You may even earn rewards for only particular purchases with your credit card, such as grocery, fuel, etc. If this is the case with your credit card too, then you can use your credit card for only those purchases.
3. Do online shopping
You can also use your credit card for shopping online. You can either pay directly by using your credit card number online or you can pay with your online credit card account. The latter one is more useful for people who regularly shop online.
Plus, you can get some extra benefits with your online credit card account, such as spending analyzers, payment planners, etc. You can also use the mobile application, if your credit card issuer provides one, through which you can easily access your account anywhere and anytime.
4. Cash Advances
Yes, with a credit card, you can even withdraw cash from an ATM. If you urgently require cash and you do not have money in your savings account, you can make use of the cash advance facility of credit cards. There is no harm in borrowing some money against your credit line, when you seriously require it. However, remember that credit cards charge some fees on cash advances, which generally amount to 2 per cent to 5 per cent of the withdrawal amount. So, use this facility only when you gravely need it.
So, make use of these wise ways to use your credit card, instead of just swiping it at a shop and see how much you can gain from them.