How To Make Money Using Your Credit Cards
Credit cards are not that bad, you can even make money and save money if you use them smart.
Here is the smart technique I use to make money by using my credit cards. First rule to remember is that you must pay your bill in full each month as soon as you get a statement.
Many no annual fee credit cards are offering from 1% to 5% cash back on every purchase. For example I love my discover card. They give 1% cash back and they also run a short term offers for 5% cash back on some items such as gasoline, books or food.
So I set up all my bills – cell phone, internet, cable, electric etc to automatically charge my credit card every month + I buy gasoline and food on credit card too. Only items that I would buy anyway every month even if I didn’t have a credit card.
To summarize, depending on your family size, you can probably spend between $800 – $2500 monthly on your credit cards and you’ll be earning around $10 – $50 monthly.
I do not keep track of cash back earnings, but when you check them 6-8 month later you’ll be surprised. I earn more money on my credit cards then on my savings account.
Last thing to address is that you shouldn’t even care about their APR, because you pay your bill in full each month. That is the key.
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