Credit Cards to Save Money!
Now let me start by telling you that I have heard so many reasons why I should cut up my credit cards. I wanted to share why I and will continue to use credit cards to save money. Yes, you heard me right save money using credit cards.
Rewards, Rewards, Rewards!
Did you know that almost every store offers special rewards for being their own credit card holder? Whether its special discounts each month, rewards program for points or even freebies sent to your home! Check out some examples:
I have such an obsession with Victoria’s Secret’s Pink line of products!! They are by far my favorite line of clothing but the cost can be so high-$59.50 for a sweatshirt-yikes! Once I heard about the Victoria’s Secret Angel credit card and how I could start earning points for purchases that I normally made to save money I was so excited!!
Just for signing up and getting the approval you will get a coupon for $15 off your next purchase and in the mail you will receive a HUGE book of monthly coupons. There is a coupon in the booklet for each month, one month it may be for a pair of free underwear, $10 off a purchase or even dollars off intimate apparel. Now the points system, for every dollar you spend equals a point once you reach 250 points you will receive a coupon for $10 off your next purchase! Just for being a cardholder in your birthday month you automatically get a coupon for $10 off any $10 purchase. At least 6 times out of the year I get coupons in the mail for free underwear. I can honestly say since I have had the Angel Credit Card I haven’t had to buy underwear!
Finding quality clothes at affordable prices is very important to me, especially for my kids who continue to grow out of their wardrobe as fast as I can buy it. I love to shop at Kohl’s for the savings, coupons, and credit card!
Being a Kohl’s credit card holder provides you access to high value coupons sent directly to your mailbox. Savings will be sent up to 30% off!
Before signing up for any credit card it is important to find out the pros and cons of the card.
My number one question: Can I pay the card off at anytime or do I have to wait until I get my bill? Sometimes the companies do not allow you to pay off the debt prior to the monthly bill. The key is to not keep any debt on the credit card to avoid the high interest rates and to make sure that whatever amount you finance you can pay off as soon as possible.
My follow up question: Are there any annual fees? These are yearly or monthly fees that the companies charge for the convenience of the credit line. I will not sign up for a credit card that has this type of charge.
My last question: What are the “perks” of being a cardholder. Find out what it means to be a store’s loyalty credit card holder. Some stores offer points, some offer coupons, and some offer freebies. Know what your card offers.
My Credit Card Rules
Rule #1: ONLY charge what you can afford. Do not go into the store with a brand new credit card and splurge. If you can’t afford to pay it off within a month don’t buy it!
Rule #2: As soon as I charge my purchase I immediately pay it off. At Victoria’s Secret and Kohl’s as soon as you finish your transaction you can immediately make a payment, that’s what I do! I buy it using my credit card (for that store) then the next transaction using cash or a check I make the payment. This way I completely avoid all interest rates.
Rule #3: Boost your credit score. Did you know that by keeping an active credit card open it actually boosts your credit score! Your credit score is based upon the amount of open credit lines and how long those credit lines have been open. The longer the better.
Now I am not saying run out to sign up for a bunch of credit cards because I am not. But if you are frequently making purchases in a specific store find out what the pros are of having their credit card because over time it will save you a lot of money.