making money using a credit card

Making money using a credit card.

Never use a credit card if you do not have the funds to pay your bill in full at the end of the month. This way your borrowing the banks money with zero interest charged to you while your money making money in you savings count. Find out when your billing cycle ends. Make most of your purchases in the beginning of the billing cycle. That way your borrowing their money longer for free.

Try using the same credit card for all your purchases that way you can evaluate were your spending your money when you get your statement in the mail. Most credit card bills will break down your purchases in categories. Such as food,clothing,hotels. Making it easy to take that information and enter it into an excel spread sheet or a programs such as quicken.

When picking a credit cagrd don't worry about the interest rate. Because your going to be disciplined and pay it off every month. Make sure there are no annual fees. Pick a card is widely used. Some merchants will not accept discover card. The most widely accepted credit is visa. Pick a card that has multiple reward programs. Use your card for everything that way you have a record of all your purchases and build up points quickly. My card has Walmart gift cards which are great because they can be used to purchase necessities such as food at a great price. Stay away from airline points.You can always find discount airfares on one of the several discount travel sites.

If you own your own home and have equity in it I recommend getting a home equity line. Most banks will pay stamps, appraisal and closing cost with no cost to you. I'm including home equity lines in my credit card section for this reason. If you have to make a purchase due to an emergency such as repair for a broken car that you will not be able to pay off at the end of the month. By using your equity line instead of your credit card you will be paying a lower interest rate and you will be able to write off interest on your taxes. More on equity lines savings later. Tomorrow on line banking.