Tips on getting cash back from your credit card

Credit cards are a useful financial force, allowing us to pay for goods and services without having to worry about the money available and spreading the cost of expensive purchases. But, as with any financial product, it's essential to use your plastic wisely to get the most value and avoid unnecessary money worries.

Look what's in the market
There are many types of credit cards on the market, each suitable for a different type of user. In addition, providers often offer promotional offers that make the change attractive. Therefore, you should closely control what is available. The best way to do this is to review the credit card pages of Money Supermarket.

Can you get cash back from a credit card. Here you will find detailed information about the cards that allow you to transfer balances from other cards to obtain a lower interest rate, others with low-interest rates on purchases, others with rewards and cash recover your expenses, as well as useful products if you have any . a bad credit history.

Keep control of your card
The other side of the flexibility and freedom afforded by a credit card is that it requires financial accountability. The fact that you have a credit limit of, say, £ 5,000, does not mean that you should hurry up and spend that amount on the last home theater unless you have a very good idea of how which you can afford. and when.
If you can pay your balance each month, it's always a good idea because you'll avoid paying interest. And if you cannot, try to clean as much as you can, instead of just paying the minimum.
If your balance is increasing steadily, now may be the time to cut your spending, otherwise, the cost of servicing your debt will further affect your purchasing power.

Use your card with care
Your credit card must not be used as a credit card. As soon as he withdraws money with the vast majority of credit cards, he begins to accumulate interest, probably at a punitive rate well in excess of 20% (the average purchase rate is approximately 17%). And, as a rule, you will be charged interest on the cash advance, which erases the balance at the time of arrival of the invoice.

To make the pain worse, many credit cards also charge a withdrawal fee, usually of the order of 3%, and a minimum fee of £ 2 or £ 3 will apply. You should also review the terms and conditions of your card to see if there are charges when you buy currency or use your card abroad. If you plan to use plastic while on vacation abroad, consider the Sainsbury's Gold credit card, which does not charge a fee for currency exchange or withdraw money from an ATM. In addition, it does not require any interest on cash withdrawals if the balance status is paid in full.

These benefits are priced at £ 5 per month, but you also benefit from an annual travel policy worldwide, including winter sports coverage, for a family of six. In addition, the Platinum post office card does not charge for purchases made abroad. You can see a selection of the best credit cards for your expenses abroad..

Clash your balance
If you accumulate a substantial balance on your card, you will pay a painful amount of interest each month, but if you switch to a card with a balance transfer offer, you can buy a break to pay off the debt.
For example, suppose you are transferring your existing balance to Barclaycard Platinum with the Extended Balance Transfer Card. Then you will have 22 months with a 0% interest rate on that balance, which will give you a golden opportunity to make significant progress on what you owe. Best of all, the card also charges 0% on purchases, but only for the first three months.

However, you must pay a transfer fee of 2.9% (or 1.45% if transferred before August 9, 2012) and, once the 22-month offer is exhausted, the card has a representative APR of 17.9 % (variable). It is therefore particularly important to eliminate as much as possible the balance with a rate of 0%.

The Halifax Balance Transfer credit card also offers 22 months at 0% and 0% on purchases made in the first three months, but the corresponding fee is 3.5%. Another option is a card that guarantees a low-interest rate, such as the MBNA Rate for Life card, which applies a 5.9% charge on balance transfers. You can read everything about it here.
The attraction of an offer such as this is that you do not have to look for a new fare at the end of an offer period.