Does anyone know the best way to use a rewards credit card?
Im getting a gold credit card (Australia) with up to 55 days interest free. Im thinking Im going to use it to pay for almost everything, and then put the money straight back on it and reap the rewards! Does anyone have a system they can suggest? Can I pay my home loan and other bills with credit card without it being a 'cash advance (which pays immediate interest). Tell me what you do in case I miss something! Thanks
You're on the right track. The best way is to make all your purchases on the card, and pay it off in full each month. Just make sure you dont get sucked in like a lot of people and buy things you cant afford and end up paying loads of interest, as it's not worth it.
Generally you cant pay a Home Loan or Personal Loan from your Credit card, as most cards wont allow you to "Pay credit with credit" Most bills such as power, phone and cable you are able to pay with your credit card.
I put my pay into a high interest account, and just pull out the required amount each month to pay on the card to avoid interest being charged. Everything possible goes on the credit card.
November 29th, 2008 at 11:15 am
You're on the right track. The best way is to make all your purchases on the card, and pay it off in full each month. Just make sure you dont get sucked in like a lot of people and buy things you cant afford and end up paying loads of interest, as it's not worth it.
Generally you cant pay a Home Loan or Personal Loan from your Credit card, as most cards wont allow you to "Pay credit with credit" Most bills such as power, phone and cable you are able to pay with your credit card.
I put my pay into a high interest account, and just pull out the required amount each month to pay on the card to avoid interest being charged. Everything possible goes on the credit card.
References :
work for a bank
November 29th, 2008 at 12:00 pm
very easy
1) Use your credit card for things you would normally buy.
2) Put your cash in the bank, write a check to pay off the credit card at the end of the month.
If you cant pay off your whole balance every month, then rewards and free cash from credit cards isnt for you.
References :
November 29th, 2008 at 12:18 pm
Yes buying as much as possible and paying it off everymonth is the way to go for rewards. You can pay bills with most credit cards, you just have to see if your bill companies accept credit cards.
References :