How to Make Money with Credit Card: Yes You Can

Using credit cards has become the part of lifestyle because of its multiple salient benefits. As of today, more than 51 million UK adults almost 96% of population use credit card. The fast-growing acceptance of credit cards in all the social segments is increasing the possibilities of online frauds also, but still, it is beneficial to use it carefully keeping in mind all the risk factors. The total transactions made through credit card are expected to be £942 billion by 2026. The interest-free period is the most lucrative feature that encourages more and more people to use a credit card.

Benefits of Using Credit Card:

Benefits of Credit Card

A credit card makes buying the expensive items easier even if you don’t have funds in the account; the credit card allows payment in full at the time of purchase, but you actually pay the cost over the months as per convenience. The credit card payments are safer if compared to payments made through cheque, cash or debit card. Section 75 of Consumer Credit Act defines that credit card agency is responsible for any type of misrepresentation or contract breach by the retailer. The 0% interest rate period allows getting the funds as and when you need without paying any interest rate for a short period. Some credit card issuing companies offer periodic incentives also; it means you save by shopping through credit cards. The interest-free period facility can be used to pay the debt owned at other shopping cards before the interest rate free period of those cards ends. In case of emergency, you can withdraw the cash also provided you have not used total credit limit. In addition to these benefits, some people are making money also by using credit cards. Wouldn’t you like to do so?

Related:11 Reasons not to apply for Credit Card

7 tips to Make Money with Credit Card:

7 Tips to Make Money with Credit Card

  1. Get Money With Credit Card Cash-Back: To earn money using a credit card, ask for a card that has cash back facility. Cash back facility can help you win even up to 5% of the total value of a purchase. By developing the habit of making all the possible investments through credit card, you can max the earning; that may be about £500 per year.
  2. Get a credit card with a sign-up bonus: Because of increasing competition in credit cards business, the agencies offer lucrative schemes; a sign-up bonus is one of those benefits. A reward may come to a kitty in different forms like free stay in a hotel, points for airline ticket buying, cash to credit card account. To earn the hefty bonus, you need to spend a certain amount on credit card within a specified period after getting a credit card.
  3. Use the credit card issuer’s discount shopping malls: It needs you to have planned ahead for shopping. By picking up the points that privilege your card especially is an excellent way to earn by spending. You can save considerably on movie tickets, flowers purchases, dining, travelling etc. by making the purchase through credit card issuer’s malls. Before getting one such card, look at online credit card issuer’s discount mall to check the possibility of getting discounts.
  4. Sell the Rewards Points But Carefully: The numbers of credit cards offer travel rewards points to the frequent traveller but if you are not a frequent traveller or you are not going to travel within the specified period, selling the earned points by booking tickets for the friends and family members is an inventive way to get cash. It is a win-win condition for both the parties; the friend receives a discounted ticket, and you get immediate cash back. However, all the credit cards don’t allow the sell the reward points; therefore, check the terms and conditions before selling your reward points.
  5. Take advantage of price difference adjustments: Many times we see a rate slashing of an item after some time that you purchase. Many times, it seems to embrace. Some credit cards refund the price difference under price protection scheme. The ease of getting back the price difference depends on the type of credit card. The price difference is not limited just to the concerned retailer to receive claim benefit; even if you find the price difference at another retailer, you are eligible to get the benefit. To get this benefit, you need to claim for the identified gap.
  6. Extended warranty free of cost: The extended warranty on expensive electronic items is a big issue; in most cases, it comes at a price. This can be yours automatically that too without paying extra by choosing the right credit card. Numbers of cards provide extended warranty as privilege benefit without charging any fee. Check the credit card’s benefits before making a purchase. Keep the purchase receipt safe for warranty period so that you could easily claim for free service.
  7. Do online shopping: The habit of online shopping with a credit card may help you earn a good percentage of the spent amount. Online stores accepting the credit card type that you have offered better discounts rather than the city stores. To get the extra discounts, you will have to find the stores that are providing the maximum discounts on the items that you need.

Related: The Best Credit Cards For 2019- An Overview

Santander Everyday Credit Card, Post Office Platinum Card, Tesco Bank Foundation Credit Card, Capital One Quicksilver Credit Card, Express Platinum Cashback Everyday Card etc. are the top ranking credit cards known for giving lucrative cash, bonus and rewards benefits. These are available for any adult UK citizen; online applying process for these cards is simple. By having these, you can get up to 3 months interest-free period on the made purchases; just think how much you can save.

Concluding Note:

Getting privilege benefits from the credit cards seems reasonable, but any trick of maximising the benefits works only when you keep an eye on spending and pay the dues well in time. Using the credit cards for more purchases and paying the dues on time help you get more cash limit; the available cash limit can be used as the anytime no guarantor- guaranteed short-term loan source also. The credit cards issuers give monthly statements, and the users can access the accounts online even; so, never let go any payment a miss.

Leave a Reply

Your email address will not be published. Required fields are marked *