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Tips to Shop Smart with Your Credit Card

Credits cards are a great tool to help manage your budget by tracking expenses, pay bills, and build credit history. Most cards offer perks like cash back on purchases, travel rewards and a protection plan, but you want to make sure you’re using your card to maximize the perks available. Here are some tips on how to get the most from your card.

Know your limits
The most important credit card advice is to understand how much you can afford. Utilizing your card shouldn’t be “this means I have an extra $1000 to spend”, use your card responsibly to ensure you benefit from all it offers while staying on track with your goals.

Pick the right card
Most credit cards offer points, travel discounts and other advantages like cashback rewards from using them. Often it will require you to utilize your card quite frequently to accumulate the points required. But don’t pay a fee if you aren’t reaping the rewards, learn what the card you have offers and make sure it aligns with your shopping style.  

Manage your budget in one place
Managing your finances monthly can get complicated quickly with cell phone(s), utility bills, etc. – this can be made easier by paying using your credit card. Not only can you manage cash flow better, but you will also be benefit from your reward programs.

Build up your credit score
When it comes to borrowing money, financial institutions always consult your credit score to assess your ability to repay. The better your credit score, the easier it is for you to borrow. Pay off your card monthly, whether it’s from cash, your savings, or line of credit, carrying a balance of zero each month will help you build your credit score and show your reliability.

Our expert Advisors are here to walk you through these tips help you find a card that best suits your lifestyle so that way you can manage your credit card more efficiently and earn back some rewards. 

 

Need advice? Just ask.

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