With the New Year having only just started many people may have plenty of plans in the pipeline for the next twelve months. Some will be thinking about getting that luxury vacation booked, and others may be thinking about making high value purchases for the home. Some may even be thinking about making big money home improvements, such as a remodeling or a new kitchen.
No matter what your plans for spending are for the year, there is a chance that you could enjoy saving some money on the cost. The good news is that the more you are planning to spend, the more you can save. Anyone that is planning to pay in full for their planned purchases could benefit from these savings.
If you are one of the lucky people that has some money put aside to pay in full for the purchases you plan to make, then you could be in luck. As an example, you may be planning to pay for a vacation and some new purchases for the home this year. In total, this could come to several thousand dollars or more.
Rather than paying outright cash for these purchases or using your debit card you could earn cash back by using a credit card. If you get a cash back credit card to pay for these purchases you will earn back around 1-2 percent of the amount that you pay. Some providers may even give you more cash back than this.
You can then use the money you would have paid with to repay the credit card balance, which means you won’t be charged interest. However, you will have still earned up to 2 percent or more of the amount you paid out on your purchase, which could be a fair amount on several thousand dollars.
The good thing about having one of these credit cards is that you can use it time and time again. As long as you repay the balance in full each month you will always be getting something for nothing. You could use the cash back credit card for future purchases such as gifts for family or Christmas shopping. Again, this would help to increase your cash back levels so you get even more back from the provider.
It’s also important to remember that you can use your cash back credit card for every day purchases. So, rather than using cash or debit card to pay for things such as gas, groceries, etc, you can use the cash back card. You can then use your cash to repay the amounts spent, and earn cash back into the bargain.
Earn up to 5% cashback everyday or up to 20% online on Discover's wide selection of cash back cards.
Earn up to 3% cashback on everyday purchases such as gas, home improvement and department stores.
Receive up to 5% cash back in quarterly bonuses and 10% online at select merchants.
Comments
No comments yet