Tip of the Day
Make sure you are getting rewarded for using your credit card.
Today’s tip: Using credit cards is not always a bad thing as many might have you think. The trick is being in control when using them. Many cards offer rewards like 1% or 2% cash back on all purchases or frequent flyer miles and can really add up if you spending high dollar amounts. They do this to try to get you to overspend what you will be able to pay off, thus leading to interest and fees that far exceed the 1 or 2 you are getting when making the purchase. If you can however control your spending and not use your card without having the cash in your bank account you can gain an extra 1-3% return on your income you spend. A nice return for doing nothing but spending your money.
Here are a couple rewards cards to look at- please remember this may not be for everyone and to read the fine print before accepting any credit card offer. These are all cards with no annual fees.
1. Fidelity Retirement Rewards American Express Card Read more >>
2. Chase Freedom -great card and popular Read more >>
3. Citi Dividend for College Students - popular also with college students Read more >>
4. Citi Forward Card for College Students- Rewards for paying your bill on time Read more >>
This is not a complete list, but rather a starting point for a search for the best reward card for you. It will all depend on what you spend your money on and what reward you prefer whether it be cash, flyer miles, or dining out.
