Money Tips #2: Credit Cards

Over the years, PF Stock has collected numerous money and tax saving tips from readers. In this series of posts, I have compiled some of the best money tips that I've received and categorized each one by topic. In addition, I am including other money tips from the internet and from my own experience. I hope that this will come in handy my readers. Today's topic:

Tips for using credit cards to your advantage

• Make sure to pay credit cards off in full in month. I keep a list of all our monthly charges, each charge goes right on the list, so I know exactly what we will owe. We don't buy unless we have the money ahead of time. Also, Get a credit card that doesn't charge a fee and look for one with rewards.
• Avoid credit cards and pay with cash. You will be surprised how much money you will save.
• My best tip is if you can't pay cash don't buy it. I am currently credit card balance free. (knock on wood)
• For travelers, check out the credit card threads on FlyerTalk. You can literally fly for free with the great sign up bonuses on so many credit cards.
• Get a Travel Rewards credit card and receive a sign up bonus.
• If you pay with cash you will spend less. It's too easy to hand over a card and not think about how much you're spending.
• Plan purchases and watch hidden costs if you have to charge. Getting 18 months no interest and not paying things off is costly. You pay interest on the whole purchase after 18 months even if you only owe a few dollars. BEWARE!
• Price match, use coupons in store and online, shop around before purchasing, take advantage of credit card rewards and other store loyalty programs etc.
• Order your credit report from the 3 major reporting agencies—Equifax, Experian, and TransUnion—for free once per year at annualcreditreport.com. I joined creditkarma.com to monitor my actual credit score for free too.

Also See:
PF Stock Money Tips #1: Use Coupons

Thanks again to all of my readers who contributed most of these tips. If you have more money saving tips, please share them in the comments below. Your tip may be featured in a future compilation.

PF Stock