Monday, March 23, 2009

Credit Cards

Although this blog is about saving money and most people do not equate credit card use with saving money, I do use credit cards and believe that if you use them intelligently they are a great way to MAKE money - yes, you heard me correctly!

There are many great credit cards out there that give you cash back when you make certain purchases. I have several of these cards and use them primarily only for the biggest benefit they give. For example, if a card gives 5% cash back on gas only, I mark the card "gas" so I can remember and use that card only for gas. Having credit cards is essential to having good credit and if you only charge what you cna pay off completely each month, there won't be any trouble!

The Discover More card is a card with great benefits to its members. First of all, it offers 5% cash back when you make purchases in its set categories that you sign up for (i.e. gas, groceries, restaurants, travel) up to $3,000 per year. After the $3,000 you will earn 1% per year. I would use this card until I got the $3,000 and then use a different card to maximize the card's benefit. You can request a check once you've earned $20.

The Discover Open Road card is another great Discover card you could apply for. There is no annual fee and the card gives 5% cash back on your first $100 in gas and auto maintenance purchases each billing period (per month) up to $1,200 back annually. This would be a card I would use for gas only to maximize the benefit.

To research other credit cards with cash back benefits to you, please click here or the banner below. If you do your research and apply for the right card(s) for you, you can earn money when you shop and shop smarter!
Credit Card Search Engine
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