Save money: What are the smart ways to lower your credit card bills?

By on Oct 8, 2013 in Credit Card Debt, Personal Finance | 0 comments

The following is a featured post from Christina Jones at oglv.com. Feel free to contact us if you would like an article featured on our blog. Save money: What are the smart ways to lower your credit card bills? Usually, credit cards aren’t considered as a money-saving tool. However, if you’re a savvy credit card user, then you can actually employ them for your best of interest. How to save money from credit cards Here are some credit card tips to help you to lower your bills and drive up your savings: Opt for balance transfer offers – At any given moment, you may get bombarded with several 0 annual percentage rate (APR) card offers to transfer the balances from your existing credit cards to the new one.Right now, it is considered as one of the most suitable time to get the balances transferred from a high interest credit card to a zero or low one. This will save you quite a lot of money while paying them off during the promotional period. Make good use of credit cards – This is one of the basic rules of using any kind of credit and the same goes in case of credit cards as well, i.e., to use them responsibly. You won’t even save a dime, if you pay too much of interest on your credit card bills. Moreover, you must always make it a point to make full payments and never miss any monthly deadline.This is because missing payments or paying minimum on your bills will cost you a lot more in the long run by way of late fines and higher rate of interest. So, always try to use cards with least interest rate and if possible, then use that during the teaser rate period. Benefit from credit card rewards – Though rewards on debit cards have become quite an extinct thing now, yet you’ll get plenty of them on credit cards. So, if your credit is good, then you may opt for various rewards like cash back offers, airline miles, vacation packages and so on.However, find out the kind of reward card that fits you the best and go for that only. Moreover, by paying off all your cards’ balances in full, it’ll help you to earn rewards that’ll save you a good amount of money in return. Study your credit card statements – Whenever you receive credit card statements, make sure to go through them carefully. A lot of people like you pay off their balances without reviewing each transaction that they’ve made in a given month.Behaviors like these will make you vulnerable to fraudulent transactions or identity theft that may even result in some huge unwarranted purchases. There is a deadline to report any of these issues and if you don’t review your financial statements regularly, then it is very likely for you to miss them. Last but not the least, if you’ve run up on huge outstanding credit card balances, then you can get that settled. This will help you to repay your credit card debt for pennies on the dollar and save a handsome amount of money out of it. In order to settle your overwhelming credit card balances, you need to have excellent social skills, sturdy emotional stamina and an easy access to a pile of reserve cash to offer your creditors on the spot. Not every creditor will accept your offer and settling debts is surely a long-term process, so never give up mid-way through...