4 Smart Ways to Get the Most from Your Credit Card

Credit cards are more than just convenient; for most people they are a necessity, especially when traveling or in the event of an emergency. However, tighter credit standards and rising interest rates are beginning to take a toll. Learn how to use credit cards wisely to save big and keep the flexibility you need.

1.    Simplify Your Life. Credit cards are a great way to keep track of expenses each month. Simply open a card for business-related costs and another for personal items. At the end of the year it’s easier than ever to tally the total cost of deductions.

2.    Go Prepaid. Send a prepaid card with your teen or college student to help make sure that he or she has access to emergency cash without the worry of running over the limit.

3.    Compare Points. Credit card points can add up to big perks, even for those who pay in full every month. You might be surprised by how quickly you qualify for everything from gift cards to movie tickets or even a free vacation simply by charging routine items like groceries and gasoline. Pay in full as usual and then pocket the perks!

4.    Don’t Fill Your Card Up. Many credit card companies are cutting back on credit lines, so it’s a good idea to leave a little extra wiggle room just in case. Credit scores should reflect a low debt-to-income ratio to ensure that you qualify for the best rates.