To maximise your credit card benefits, start by selecting the right card. With many options available, you must analyse your spending habits and choose a card that aligns with them
When you get a credit card, banks often provide welcome bonuses like cash back, extra reward points, vouchers, or gift cards to attract new customers. Some may even waive the annual fee
A critical step to saving money with credit cards is making timely bill payments. While credit cards offer rewards, they also impose high interest rates if payments are late
While a credit score doesn’t directly earn you money, a good score can lower loan interest rates. Using your credit card responsibly can maintain a good credit score
Most of the credit cards provide reward points for every purchase. By using your card regularly, you can accumulate points and redeem them later for shopping, airport lounge access, travel perks and more
Credit cards offer various benefits, including discounts at specific retailers and cash back on certain purchases. Familiarise yourself with your bank's offerings for maximum benefits
Regularly using your credit card can help you earn reward points and cash back. However, keep an eye on your credit utilisation ratio, which should ideally stay below 40 per cent each month
While credit cards permit cash withdrawals, it's best to avoid this option due to high fees—typically 2.5 per cent to 3 per cent—and immediate interest charges on cash advances
Credit cards provide a revolving credit option, allowing you to pay only the minimum due and carry forward the remaining balance. While convenient, this can result in higher costs due to interest on unpaid amounts