I have recently discovered a benefit from using my credit cards. We all know that some credit cards offer cash back rewards for purchases. We also know that they give around a 25-day grace period for purchases before interest begins to accure. I have been using these two facts to my advantage. I charge all my gas, grocery, and even some bills to my credit card that offers 1-5% cash back depending on the purchase type. Therefore, all my everyday expenses automatically become slightly cheaper, resulting in stretching my money further. Another way this results in a little extra money is that the temporary "float" of the money I would have used toward these expenses is put into an interest-bearing account. In effect, delaying this month's expenses until next month. This constant "float" allows a month's worth of expense money to accure interest (currently 3%). Now, I want to give two important caveats here. First, I never carry a balance past the grace period on any of my credit cards. If you do not have this luxury to pay your full balance every month then this is not for you. Secondly, if you are going to pay for such items as your utility, cell phone, or cable bills make sure that none of them charge a service fee or surcharge to use your credit card. I now prefer to pay everything I can on credit and pay off the balance the following month. I was wondering if anyone else does this as well or if they know of a better way to leverage everyday expense money.
Perfect post everythng true.. but what about for people like me ? they dont give me CC because I'am student.. and without CC my net business is almost half now this really sucks.. in India they think we are crap and we wont pay lol ..
MoneySavingExpert.com found that the best card is the "American Express Platinum credit card (don’t confuse with the charge card version), though it requires a minimum £20,000 income to apply."
Did you try getting a secured credit card (card against fixed deposit) ? Banks don't ask any questions for a secured credit card. You just need to make a fixed deposit with the bank.