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Credit Card Savings

Presented by TP Mechanical | Provided by HORAN

Shopping background Typical payment options are cash, credit or debit. Using debit or cash can help you stick to a budget because they limit your spending, but responsibly using a cash-back or rewards credit card can actually save you money.

With cash-back cards you earn cash when you use the card. Typically these cards give you 1 to 3 percent in reward money for the dollars you spend, but some may give you a higher percentage for certain categories of purchases.

Rewards credit cards allow you to accumulate points when you use your credit card. Points can be redeemed for a variety of items that may include gift cards, plane tickets or other deals depending on your credit card offer.

Although credit cards can be used to save money, remember to only use them if you know you can and will pay them off in full, or they will end up costing you extra. Here are a few tips to make sure your credit card works for you:

  • Don’t spend more just to earn cash back or reward points.
  • Pay your bill in full every month to avoid interest payments.
  • Label your cards with the purchase categories and rewards they offer.
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