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Do your credit cards work for you or is it the other way round

For most people who have a wallet or purse full of charge cards and credit cards the chances are they’re costing the individual money. Credit cards should work for you rather than you work for the credit cards. Thankfully there are now hundreds of cards which can actually earn you money and other rewards every time you use them.

Credit balance transfers

Choose credit cards that pay you back with rewardsYou can immediately start to win some of that money back and start earning money simply by transferring balances from your existing credit cards to a new credit card with low interest or zero percent for a fixed period. Instead of paying your current twenty five percent or whatever exorbitant interest rate you’re being charged, you can pay next to nothing for a fixed period.

Then, when the new card low or zero rate expires you transfer the balance to another card offering the same deal. A great way to help rebuild a credit status and a great way to save money is by playing the credit card companies for as much as you can get, as often as you can get it.

Rewards and cash back

Rewards come in varying degrees from card to card, issuer to issuer. Frequent flyer air miles, cut price gasoline or cash back on goods and services. Some cards are issued which offer the user free insurance or medical insurance when traveling. Others guarantee the products bought on them, say  if a supplier ceases trading but the product is faulty, you will be able to obtain refunds for goods and services which do not fulfill their purpose. There are many variations on a theme, but you can, if you work it right, have your cards working for you and paying you money every month. Not a bad thought really.

Repairing credit ratings

Credit cards are an excellent way in which to rapidly improve your credit rating status if it has taken a battering for one reason or another. Taking out one or more cards, using them frequently and making the repayments on time will immediately start raising your credit rating. It is easy to fall foul of credit ratings agencies for even a small misdemeanor such as a late payment, charging over your card limit or making a minimum payment for one month.

How to take advantage of credit card companies

If you play the card companies at their own game but play by the rules you can make money from your cards, earn some great incentives and keep your credit rating buoyant. All you have to do is apply for a card; if you fulfill the criteria you have as much right as anyone to take advantage of the special offers and rates available.

Check what cards are on offer and apply online today; there are hundreds of credit cards available and the credit card companies want your business. The more you use the low rate and special rewards cards, the more you actually save as well as keeping your credit rating and credit score high.