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How to manage money with a credit card

Practical! Complete Guide to Credit Card Financial Management

I don’t know if you are familiar with credit card financial management, but for some experienced cardholders, credit card financial management is a matter of course, and some people have made a lot of money from it. Today, I will introduce to you some credit card financial management strategies for your reference.

One of the credit card financial management strategies: Master the skills of applying for cards

The more credit cards the better, once there are too many, it is easy to have management confusion and misunderstandings about the repayment date and credit limit of the card. , consumption limit, etc., resulting in overdue repayment and leaving a bad credit record. Generally speaking, 2 to 3 credit cards are enough to meet your basic needs.

Credit Card Financial Management Strategy 2: Master the Skills of Using Cards

Sooner or later, credit card overdrafts will have to be repaid, so when using credit cards, you must first have a correct attitude and do not regard the credit card as your "own" "Backer", the overdraft limit is generally less than the salary level. In addition, during use, try not to use credit cards to withdraw cash or make installment payments, as the cost of doing so is too high.

Credit card financial management strategy No. 3: Investment skills

Credit cards have a maximum interest-free period of about 50 days. If used properly, credit cards can be used to invest and benefit. Assuming you have two credit cards in your hand, it is a good choice to set different settlement dates to extend the repayment time, use credit cards to make some short-term investments, and invest in financial products with flexible periods. However, the prerequisite for this is that your credit card's available limit reaches a certain amount and you can repay it on time.

Credit card financial management strategy No. 4: Tips for saving money

At the same time, pay attention to credit card repayments. Repaying on time will not incur late fees and interest. These credit card financial management tips are for everyone. refer to.

How to use your credit card wisely and make it one of your financial management tools? You might as well try these 7 methods

First, you can waive the annual fee by swiping your card more often. 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 a 5,060-day interest-free period 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 use their cards in order of time to spend, the interest-free period they enjoy may vary. The 5060-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 a 2,050-day interest-free period, and you will receive double points when you swipe your 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 in your card use. 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 4056 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 on credit cards, but it's still useful to be aware of these issues. To avoid getting stuck in debt due to excessive credit card use, 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.

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.

Credit card financial management strategy

Credit card itself is a very excellent financial management tool. Proper use of credit cards can bring great convenience to your life. If you can skillfully master the skills of using credit cards, you will definitely become a successful financial manager in your family. Let me introduce to you the credit card financial management strategy.

1. Card application skills

The more credit cards the better, once there are too many, it is easy to cause confusion in management, such as the repayment date, credit limit, consumption limit, etc. of the card. This results in late repayments and a bad credit record. Generally speaking, 2 to 3 credit cards are enough to meet your basic needs.

2. Card usage skills

Sooner or later, credit card overdrafts will have to be repaid. Therefore, when using credit cards, you must first correct your attitude and do not regard credit cards as your "backer". Overdraft limit Generally, it is better to be less than the salary level. In addition, during use, try not to use credit cards to withdraw cash or make installment payments, as the cost of doing so is too high. At the same time, retaining the credit card voucher after making a purchase with a credit card will make it easier for us to summarize consumption records every month and effectively prevent credit card theft.

3. Investment skills

Credit cards have a maximum interest-free period of about 50 days. If used properly, credit cards can be used to invest and benefit. Assuming you have two credit cards in your hand, it is a good choice to set different settlement dates to extend the repayment time, use credit cards to make some short-term investments, and invest in financial products with flexible periods. However, the prerequisite for this is that your credit card's available limit reaches a certain amount and you can repay it on time.

4. Saving money skills

Use your credit card wisely and you can save a lot of money. Take credit card points as an example. Points can be redeemed for prizes, cash, airline miles, etc. In addition, some co-branded credit cards offer cash back or discounts when shopping, as is the case with Bank of Communications’s hottest Friday.

5. Repayment skills

Many cardholders always have problems in this aspect of credit card repayment. Either you miss the repayment time, or you repay too early and lose your interest. Therefore, when repaying a credit card, pay attention to the following two points: first, try not to use the credit card's recurring limit (or use the minimum repayment amount); second, set a repayment time reminder on common repayment channels such as Alipay to avoid above questions.

Tips on credit card financial management summarized by netizens

If used properly, credit card financial management will not only make life easier, but also help you obtain some small expected annualized returns. Through personal practice, netizens have summarized three of the easiest credit card financial management tips, which can also be said to be three ways to save money - overdraft consumption, accumulation of points, and attention to discounts.

Tips for credit card financial management 1. Overdraft consumption

In fact, I think everyone should understand this, but they often don’t pay enough attention to it.

Take my colleague as an example

In August: He got a pedicure card for 1,000 yuan, a beauty card for 1,500 yuan, and spent about 500 yuan on eating, singing and entertainment. (There are other messes and some Alipay purchases) So the total amount I can use for credit card purchases in August is conservatively calculated: 3,500 yuan.

September: 2,000 yuan for beauty card renewal, 500 yuan for eating, singing and entertainment, 1,700 yuan for skin care products, and 1,275 yuan for treating family members to a holiday meal. In September, the total amount that can be used for credit card consumption is conservatively calculated: 5,200 Yuan.

The above consumption statistics are some of my rough statistics. I believe that many people, like my colleagues, don’t notice when they spend money, but when calculated in general, they often shock themselves. But have you ever thought about what it would be like if these were converted into credit card overdrafts, and your principal was used to obtain the expected annualized return on some financial management methods such as Yu'e Bao, online loans, etc., would it be a different feeling?

I have paid attention to some complaints about credit cards, complaining that consumption has become unrestrained since applying for a credit card. There is a very big psychological suggestion-oriented problem hidden in this, which is your understanding of the functions of credit cards. If you are a person addicted to consumption, then credit cards will be disastrous for you, but if you are a person who wants For those who tap the potential of credit cards, then credit cards are a "tool for making small money" for you.

I don’t know if everyone understands the spirit of credit cards I mentioned. If you are using a credit card, then change your concept and try to slowly use the principal after overdraft on the credit card to manage your finances. When you taste a little bit of the sweetness, driven by human nature's pursuit of interests, I believe you will change. If you haven’t used a credit card yet, learn more about it. As long as you can guarantee repayment on time, for you who use a credit card to manage your finances, you will only make more money and not lose money.

Tips for credit card financial management 2. Points accumulation

Points accumulation is very common to everyone. Maybe everyone is not very sensitive to points because the points can be redeemed for things. Too unattractive, isn't it? But having said that, if you are a very smart person with a little bit of bad ambition, you can do this - if you go out to eat with friends, or make collective purchases under the AA system, you can apply for your Come and swipe your credit card. Of course, this method seems a bit too shrewd, but in reality, many times, when checking out, everyone will spend their own 100 yuan to spend (often no one has change), and the situation will be extremely embarrassing, so this method is still very good. Yes, if you don't lose your dignity, I think it's okay for you to come and make arrangements.

One of the benefits of this is that you can withdraw cash in disguised form, accumulate points, and keep your principal unchanged.

There is also the matter of redeeming things. If you are interested in the redeemed items, it is fine. If you don’t like them, they will feel a bit cumbersome. Here I will teach you a smart little "trick". If you really don’t have what you need, you can go to 58.com, go to the market, shop for peripherals, or other second-hand communities to collect what daily necessities are urgently needed and can change hands the fastest. At this point, you should understand what I mean. It means that you can use the exchanged items to resell them second-hand and exchange them for a small amount of money.

Tips for credit card financial management 3. Pay attention to discounts

The bank's credit card business will definitely be accompanied by discounts and promotions, so you should pay more attention to which bank's credit card you apply for. But I know us girls very well, and I believe that the vast majority of people don’t have the intention to care about this, so some often remember it, some don’t, and most people don’t have a few offers to remember.

My suggestion is that now that the Internet is so convenient and almost everyone has a smartphone, it is not difficult to follow their official WeChat. Many banks will have introductions to credit card promotions so that you can learn about them at any time. Just click and take a look, and you can understand it at any time. It’s that simple.

Here I think I must also talk about the question of “Which bank credit card to apply for?”

This question is very important for It’s a bit difficult for me. There are too many banks and it’s impossible for me to try it personally one by one. But you can first go online to check the official website or official Weibo of each bank's credit card, and judge which one is more suitable for you. The distance between the bank and your bank must also be a consideration.

In addition, there is also the interest-free period of credit cards, which is not difficult to understand.

Therefore, I also hope that everyone will make good use of credit cards, use credit cards skillfully, and make credit cards become another financial management tool from today on.

This is the end of the introduction on how to use credit cards to manage finances and apply for credit cards. I wonder if you have found the information you need?