First, the annual fee can be waived by swiping multiple cards. The annual fee of 150 yuan or 300 yuan charged by a credit card often feels like an excessive additional expense to cardholders. It seems that getting a credit card is not cost-effective. However, in the current domestic credit card market, major banks have launched preferential policies that waive the annual fee if you swipe the card a certain number of times in a year. In this way, in fact, in China, the ownership and use of credit cards is basically free.
Second, learn to calculate and use the interest-free period. You can generally enjoy an interest-free period of 50 to 60 days with a credit card (different banks), which is the most attractive thing about credit cards. The interest-free period refers to the time between the loan date (that is, the bank accounting date) and the due repayment date. Because cardholders spend money in a sequential order, the interest-free period they enjoy may vary. The 50 to 60-day interest-free period we mentioned above refers to the longest interest-free period. To give a simple example, for example, the bank statement date of one of my credit cards is the 20th of each month, and the due repayment date is the 15th of each month. So, if I make a payment with my card on the 20th of this month and repay it on the 15th of the next month, I will enjoy a 25-day interest-free period; but if I make a payment with my card on the 21st of this month, I will pay it back one month later. If you repay the loan within 15 days, you will enjoy a 55-day interest-free period. And during these 55 days, I was enjoying an interest-free loan.
Credit cards have an interest-free period of 20 to 50 days, and you will receive double points when you use the card during holidays, and there are no handling fees for out-of-town purchases. First, it’s affordable. Generally, credit cards have programs where points can be exchanged for gifts. Last year, our family received a one-year insurance policy for the whole family. This part of the money used for repayment can also be used to purchase short-term financial products. It's just an idea, someone did it. The method is to buy short-term bonds and pay them back after redemption. Second, safety. There are no handling fees when traveling to other places, and you don’t need to bring large amounts of cash with you. It’s safe. Third, convenience. What to do if you don’t have enough money for shopping abroad? Make full use of your credit card’s overdraft limit.
Third, enjoy the value-added services of your credit card. At present, domestic credit cards are still in the promotion period, and major banks are making surprise attempts to attract credit card users. Cardholders can make good use of the various promotional methods offered by banks and enjoy them to their fullest. There are no separate notifications for bank credit card promotions, they are all sent to cardholders along with their monthly statements. When you receive a statement in the mail, don't throw it away; take a few minutes to read it carefully. You can also log in to the bank website of the credit card you hold to get a more comprehensive understanding of the merchants at which your credit card can enjoy special discounts.
Generally speaking, the current credit card promotion methods include points exchange for gifts, special discounts for contracted merchants, card draws, continuous card swiping to get big gifts, merchant co-branded card special offers, etc. It should be said that using a credit card is more economical and more favorable than using cash. One yuan spent with a card is definitely much more valuable than one yuan spent with cash.
Fourth, credit cards are a good helper for business travel. People who travel frequently or like to travel will be more fond of credit cards. I am accustomed to using my credit card to book air tickets through major travel websites. The procedure is simple and you can enjoy interest-free discounts. What's more, it also avoids the trouble of carrying large amounts of cash when traveling. In addition, there is no handling fee when using credit cards in other places. There was a time when I was working in Beijing. For daily consumption, I swiped cards wherever I could, which saved the handling fees for withdrawing cash from other places.
Fifth, use credit cards to manage finances. We are familiar with using credit cards for consumption, but we don’t know that credit cards can also be used for investment and financial management. Funds have become very popular in recent years, but many people suffer from lack of funds and don’t know where to start. In fact, credit card holders can also purchase funds at regular fixed amounts through their credit cards, and enjoy the benefits of post-investment payment and bonus points. Use your card to buy funds on the fund deduction day and pay on the settlement day. Not only can you earn interest, but you can also earn rewards with zero payment. However, it must be noted that this kind of borrowed money investment is also very risky and is not suitable for long-term investment.
Sixth, be self-disciplined when using cards. The interest on defaulted credit card charges is very high, so it is important to be disciplined about your card usage. Various credit cards have different terms, but some cards only require you to pay off the balance within 25 days after the monthly billing date.
Therefore, if you consume on the first day of the accounting month, you can get an interest-free loan for 40 to 56 days. The specific number of days depends on the terms of the credit card.
If you have a decent income, you may not be too concerned about saving money with a credit card, but it's still useful to be aware of these issues. To avoid getting stuck in debt due to overuse of credit cards, here are some important things to note:
Although you can withdraw cash with a credit card, the fees are generally quite high (can be as high as 3% of the withdrawal amount). If you need cash, withdraw it from the bank in the normal way.
Ideally, you would pay off your loan as soon as possible after receiving your monthly bill each time.
If you occasionally fail to pay off your loan, remember that you will be charged high interest rates.
The minimum payment marked on your monthly bill must be paid, otherwise you will be charged a high late payment fee, which will be deducted directly from your credit limit.
If you continue to make purchases with your credit card when your credit limit is maxed out, you no longer have a grace period and must pay off the interest.
Seventh, ensure the security of credit cards. Credit card crime is on the rise, so you must guard your credit cards as carefully as you would your cash. You must check your monthly bill and compare the consumption items on it with the receipt in your hand to ensure that the amount debited is indeed your own consumption.