Many people treat credit card as one of their expenses, something which costs them money. Many people refuse to have a credit card just because they think they can not afford to have one. They think, once they have cloned credit cards for sale, they are going to pay more. This is totally wrong. They do not understand what is credit card, what credit card can does for them. Some pay more just because of their own bad habits of using credit card. Credit card may earn more for us if we use it wisely and chose a correct credit card for us. The most two important factors to make credit card earn more for us are, annual fee waived cards and no interest charged card.
Before we apply for a credit card, we have to make sure no annual fee will be charged. There are some credit cards which are totally free for whole life without any condition. Some are free with conditions. A normal condition such as, at least 12 purchases made for one year. Another normal condition is, at least certain purchase amount made for one year. Please make sure you may fulfill the condition before you apply for it. Besides this, I will also consider the waive method used. Some credit card issuers just need a call to waive the annual fee. And some need to see your signature on black and white. You have to be very clear about this before credit card application. For me, I will only apply for a credit card which just needs a call because I am not willing to send an application form to apply for the annual fee waiver. This is just because I need to pay more if I need to send out an application compare with a telephone call.
Second factor will be, no interest charge. We have to make sure we are able to pay full before we purchase anything, before we use the credit card, such that no interest will be charged. The interest charged through credit card is the highest rate among all banking facilities. If you are using credit card to own something which you actually not affordable, then you are paying more to the credit card, you can not earn through credit card. If you are this kind of person, then you may stop reading this article. We may make credit card earn more for us only when we are able to paying full statement balance.
We are not suppose to spend more money in making payment to the credit card. For me, I prefer the payment make through internet banking which is the most convenient and cheapest payment method. If I need to go to the banking hall to do the payment, then I need to pay for the petrol, car parking and I am wasting more time to do so. With three factors above, we are paying the minimum amount, which is maybe one telephone call to get the annual fee waiver and the internet banking charge. If the credit card is a free for whole life card, we even save the telephone call. Below are five factors which may make us earn some money.
Firstly, every month we have to make a full payment before the due date, for one amount which consists of many purchases we made. If we pay cash for our purchase, our money will leave our wallet or purse before we have the goods. But if we are using credit card, our money is still in our banking account earning the interest. If we are able to pay the credit card payment after a longer period, then we earn more. For example, if I made a purchase on one day and I need to do credit card payment after 10 days, then I earn 10 days interest just because the money is still in my banking account for 10 days. If I do credit card payment after 20 days, then sure I will be earning more compare with 10 days. So now, how to have a longer repayment period, even for more than one month?