Basic skills in credit card financial management!

Nowadays, credit card, as a convenient payment tool, has been accepted and loved by more and more people. Not only that, credit cards can also be used as financial management tools to give full play to financial management tools. Today I will tell you about the basic skills of credit card financial management.

When it comes to financial management, the most basic skill is to save money. Saving all the expenses that can be saved in life is a kind of financial management. So how can you save money with a credit card?

1. Enjoy discounts and get cash back on purchases

The most basic benefit of a credit card is that you can enjoy discounts when spending at designated merchants, as well as cash back, multiple points and other discounts.

2. Enjoy discounts when booking hotels

Some banks have discounts on hotel bookings, including one night for free, two-for-one stay, or 10% cash back, etc. This all requires friends to thoroughly research the credit cards they hold.

3. Free airport transfer

Airport transfer is convenient and time-saving. The key is to avoid the trouble of waiting for the bus after traveling. Taking Industrial Bank's credit card as an example, designated credit card holders/customers of Industrial Bank can enjoy exclusive limousine airport pick-up and drop-off services in designated areas of designated cities by presenting Industrial Bank's designated credit card or other designated cards/certificates. The limousine is awesome.

4. Insurance

1) Enjoy aviation accident insurance

When you buy a ticket, there will be insurance included in the total cost, usually 20 yuan. The 20 yuan air ticket insurance premium belongs to aviation accident insurance. Since it is commercial insurance, it is not mandatory and can be purchased according to personal wishes.

However, many people rarely check this option. There are also some friends who will purchase comprehensive aviation insurance with large insurance coverage on the official website or Taobao Insurance. However, there is no better way to save money than to use a credit card with value-added aviation insurance to pay for air tickets and enjoy the accompanying protection.

Take CITIC iBai as an example, 15 million aviation accident insurance. Of course, various banks have similar aviation accident insurance services. Friends may wish to learn about the services of the cards they hold.

2) Baggage delay and flight delay protection

A flight expert once joked that the compensation received from each flight delay insurance is enough to pay for the flight. He was talking about CITIC at the time of a certain credit card. The compensation amount of flight delay insurance. Some credit cards will determine the specific amount based on the length of flight delay, while some credit cards will provide a fixed amount.

Take the CITIC Platinum Card as an example: it enjoys 1,000 yuan flight delay insurance for 2 hours

5. Other additional functions

Of course, credit cards also have other preferential services, such as Roadside assistance, medical examinations, dental care, women's care, golf services, etc.

How to use credit card to increase financial value?

The correct way to maintain a credit card: 1. Three months after opening the card, you must accumulate credit and repay on time. Let the bank be absolutely assured of you. It takes more than 3 months of using the card to increase the bank limit, and it also takes 6 months of using the card to apply for a card. These are all used to see your performance. Only the first few months have been good. Only if you have a good credit record, the bank will be able to raise your credit limit and apply for a card with your card.

2. Use POS machines with small amounts and points as much as possible. Only when the bank makes money will the bank increase your balance. The profit sharing of the POS machine is as follows: 7 for the card issuing bank, 2 for the depositing bank, and 1 for UnionPay. Those with points are not capped, and those without points are capped and cannot make money.

3. Repay frequently. The purpose of this is to increase efficiency and increase the utilization rate of funds. The more frequently you swipe and repay the card, the more the bank likes it. Only in this way can the bank feel that the funds are safe and make money. .

4. Friends who want to cash out working capital, read this article. Banks believe that the key to cashing out is large-amount consumption - large sums of money in and out, the overdraft limit accounts for a high proportion of the total limit, and the maintenance period is long, which is a big taboo for using the card. In fact, it doesn't matter if you want to cash out. This is a problem that every bank cannot solve. The key is not to go too far. My personal advice: Be careful when making large amounts, and the amount should not exceed one-fifth of the total amount. Except for brushing points.

5. Take advantage of every opportunity to brush every day, no matter how big or small. When I buy a bottle of mineral water, I always swipe my card. Why pay electricity bills, water bills, and phone bills? Don’t underestimate these small credit card swiping records, they are very useful for your card usage activity.

The amount of card swiping, the frequency of swiping the card, the type of consumption, the repayment record, and the contribution value of the card? These are the categories that the bank's computer system examines.

6. Make at least two cash withdrawals a month to let the bank earn some interest. Make an installment every two months, and the number of installments should not be too long.

7. Participate in the bank’s preferential points activities.

How to use credit card money to manage finances

1. Make reasonable use of the interest-free period. The interest-free period of credit cards is generally 30-56 days. How to make reasonable use of this period? As long as you start swiping your card the day after the bill is issued, you can enjoy the maximum 56 days. And you can use this method for several cards in your hand, and I remember that the repayment date can be modified once or twice a year, and you can make the most appropriate choice based on the time of your salary and income.

2. Make good use of credit card limit funds. The credit card limit is generally determined by factors such as your assets, education, income, bank statements, liabilities, personal credit, and credit card limits from other banks. If you want to raise your balance, you have to swipe your card more, make more installment repayments, and maintain good repayment habits. Don't make overdue payments. Let the bank make money, and then the bank will be willing to lend you more money. The larger the limit, the more money we can use for financial management.

3. Spend money for others and pay you in cash. Many times, friends around you will go online to buy some products with slightly higher prices. At this time, you can help your friends pay with your credit card and use your friends to transfer cash to you. This is to invest the funds again, because there is no handling fee, so the income is very considerable. The benefit of paying on your behalf is not only to increase the cash available for financial investment, but also to earn credit card points. Nowadays, points from many credit cards can be redeemed for various products, such as recharge cards, airline miles, household items, etc., thus saving a fortune.

4. Make more use of mobile payments. With the popularity of WeChat and Alipay, you can now pay with your mobile phone on the streets. As long as you bind a credit card to WeChat and Alipay, you can pay for most purchases with a credit card. In this way, you can save cash on financial investment, and you can also accumulate points and credit. In particular, when Alipay and WeChat hold various activities, you can often get cash rebates.

Everything has its advantages and disadvantages. Although credit cards are convenient, they can also easily lead to excessive spending. Of course, this time will test the control of the card user. If you can control your credit card well and use it wisely, you can maximize the value of your credit card and it will only benefit you. There will be no chance of becoming a card slave every month.

Is credit card financing reliable? How much money can you make?

Speaking of credit card financing, I believe that every cardholder with a certain credit card experience has his or her own opinion. Some people say this You make money by doing it, and some people make money by doing it. So, is it reliable to use credit cards to manage money? How much money can you make in this way?

1. Credit card installment repayment, swipe the card to buy financial products

Example: Mr. Zhang overdrafted 20,000 yuan using a credit card. He planned to repay it in cash, but because the bank had For activities, he can apply for credit card installment repayment at 0 interest rate, so he plans to apply for half-year installments, and then use cash to purchase P2P or Yu'E Bao financial products. Let's calculate whether this is cost-effective.

Take China Merchants Bank as an example. According to the credit card installment calculation, the handling fee for each installment is 150 yuan, and the handling fee for 6 months is 900 yuan.

Method 1: Mr. Zhang invests 20,000 yuan in a P2P financial management platform. The investment period is 6 months. The annualized expected rate of return is calculated by re-investing with expected returns. Then after maturity, he can get 938 yuan. expected earnings.

Method 2: Mr. Zhang invests 20,000 yuan in baby products with an investment period of 6 months. Calculated based on the annualized expected return rate of Yu’e Bao, he can get an expected return of 423 yuan.

Through the above comparison, you can still make tens of dollars by investing in P2P, but you will directly lose money by investing in Yu'e Bao. However, these tens of dollars are also risky, so I don't think it is cost-effective.

2. Purchase financial products in installments with credit card cash

After reading this, do you still think it is profitable to use credit card to manage finance?

You can apply for various credit cards quickly and safely.

How to buy funds with a credit card?

Fund is a kind of financial product, which refers to a certain amount of funds established for a certain purpose. Internet babies such as Yu'e Bao are basically monetary funds.

A credit card is a credit limit granted by the bank to the cardholder, which can be used to make purchases and repay later. All banks have credit cards with interest-free repayment function. Cardholders generally enjoy an interest-free repayment period of about dozens of days. During this period, they can overdraft for consumption. As long as the repayment is made on time, the bank will waive the fee. Overdraft interest.

If you can buy funds with a credit card, doesn’t it mean you can enjoy the expected annualized return without spending your own money? How to buy funds with credit card?

In fact, credit cards can only be used for overdraft consumption and cannot be used to buy funds. This is already stated in the credit card regulations or agreements of major banks, that is, the credit card overdraft amount cannot be used for investment activities. This is mainly because buying funds with a credit card is essentially a cash-out behavior. Therefore, fund products also do not support credit card payment.

In order to make arbitrage, a small number of people withdraw money from their credit cards and use them to buy funds. Analysts believe that this behavior is very unworthy.

1. No matter what method is used to cash out the credit card, the cardholder has to bear the handling fee. The longest interest-free period of the credit card is only 56 days. It is used to invest in funds. The annualized investment expectation is expected. The income is a little higher than the cost of cashing out, and the expected annualized income is very little;

2. Cashing out on credit cards is illegal. Once identified, the bank may reduce the limit, suspend the card, or even bear the risk. Legal liability;

3. In order to increase the expected annualized expected return, some people will use interest-free repayment funds to purchase stock funds. Although the expected annualized expected return of this kind of fund may be higher, the net value of the fund Ups and downs are unpredictable, and you have to pay a handling fee of about 2% for purchase and redemption. After 50 days, on the repayment day, even if your fund has increased by 2%, you are still working in vain. What if it falls by 2%? At this time, the redemption fund will repay the overdraft, which will result in a loss of 4%! Moreover, debt investment is more psychologically stressful than investing with own funds, and you have to bear the real risk of loss.

That’s it for the introduction to financial management using credit cards.