6 Ways to Use Your Credit Cards and save

Credit cards are a useful financial tool to employ for maximum savings. This is how you can do it:

1. Keep only those cards that are free for life. For each free card, you keep you can save between RM200 and RM300 on annual fees.

2. Use one of the cards for the payments of monthly insurance premiums and utility bills such as electricity and telephone. It is very inconvenient to pay so many bills all by yourself. For the monthly amount charged to the card, you can collect valuable points. You can then redeem the point for useful household appliances like cooker, Thermos flask, oven, and vouchers.

3. Use CIMB Petronas Card (gas credit card) to pump petrol and receive the 2% cash discount and the card is free for life.

4. Use a cashback credit card for all the purchase of grocery items and other goods

5. Use one of your cards to buy big-ticket items by installments with zero percent interest. You spread the installments up to 36 months. Your monthly cash flow will not be affected severely. You don’t incur interest and on top of that, you collect valuable points to redeem useful items.

6. Pay your credit card bills promptly and fully. Otherwise, the interest charges will be more than your savings.

Take advantage of offers given by credit card issuers to maximize savings. Most important of all, settle the amount fully before the due date when the statement arrives.