How to utilize our credit card(s) to the maximum to save money?

Tweet

I am going to discuss here some of the credit card usage and how to use it wisely rather than falling into the pit with its abuse. First of all, if you have multiple credit cards, you should be knowing the statement date of each card by heart because if you are using a card and paid only part payment and if you still use that card again for purchases, you would add up to the pile and your interests will be escalating like a roller coaster. So, if you are making a purchase, use the credit card which has nil balance and use that card and that too if you know the statement date and if you buy it after the statement date you could actually save some bucks through that with some 40 to 50 credit free period which you can utilize to pay up the other card bill. Secondly, you should know about various offers that credit cards come up everytime, you should be fully updated on it (for that see their brochure that they send along with their statement or sign up for their email news letter) and use that fully. Sometimes they will come up with 5% to 10% cash back offer, or 0% balance transfer offer, etc and use to the max and get back some amount from them through these various offers that they come up every time. Thirdly, use the rewards points to get some gifts that they offer every year and don't forget to redeem it every year, as they tend to lapse after a particular period of time. Then, regarding the annual fee for the card, I guess you could actually negotiate with the bank through phone banking and could waive the entire amount waived off or at least part waived off, if you tell them that you don't want that card anymore and want to cancel it, etc. and most of the time, the credit card company will not want to lose you if you are a good customer (yes they will check your track record of yours) and waive off the annual fee, it worked for me many times and i hope it will work for you as well, just try, you won't lose anything. I had many other things to discuss regarding credit card usage but since it is late night and i am having writer's block, could not come up with more, but will post more in this thread as a comment, please do look for it if you like my above tips. I would like you to also post your experiences on credit cards savings, tips, etc here, so that others will be benefited too.