Originally posted on http://www.wfmj.com/story/40611873/7-unexpected-benefits-of-using-a-credit-card
We all know the building our credit is important.
The most well-known way to do that is by using a credit card. It’s simple, really: use the credit card and pay it off each month. If you don’t pay it off each month, make sure your balance remains below 30% of your overall credit limit.
The best way to use a credit card is with wisdom. We know that familiar temptation to throw another transaction on the credit card. In the long run, if this is your continued habit, the interest (if not paid off every month) will cause you to spend more of your hard earned money.
With self-discipline and wisdom, you can use credit cards for your benefit. There are many other benefits besides using them to build your credit, even ones you may not know about!
Many people are already familiar with benefits like points and rewards offered by credit card companies. Did you know that many credit card companies go a little bit further to reward their members? Some benefits (like the ones below) aren’t as well known.
Even if you don’t have the best credit, you can still find the right credit card. Use resources like Bonsai Finance to locate the best one.
Anyone who has done any international traveling is familiar with international transaction fees. These fees are charged to the cardholder when a purchase is made in a foreign currency.
The typical fee is around 3%, which may not seem like much, but remember this fee is charged for every transaction. That means for every $5,000 you spend, you would then spend another $150 in fees.
Some credit cards are doing away with the international transaction fee. That means saving some cash when traveling abroad. It also means saving money when you are at home, purchasing from vendors outside of the United States.
Bank of America offers the “Museums On Us” program to their credit card holders. This year they celebrate their 22nd anniversary of offering this to their credit card members.
On the first full weekend of the month, credit card holders can enjoy one free general admission ticket to a participating museum. Just make sure to have your credit card and photo ID present!
This benefit is great for wine connoisseurs who enjoy expanding their palate while saving money. By using the Visa Infinite or Visa Signature credit card, you can save money at more than 50 wineries in Sonoma County, California.
That means that it doesn’t matter who the issuer of the credit card is. To determine if your card qualifies, check the front of your credit card, by the Visa symbol. If your card says “Infinite” or “Signature” under the Visa symbol, then you’re eligible.
Benefits include purchasing one standard wine tasting and receiving one complimentary tasting (of equal or lesser value) free. Who doesn’t like a buy one get one free? This also makes that girls weekend a little more attainable.
As technology advances, so do the ability of our cell phones. That means the price tag on our phones keeps advancing as well. With the steep cost of phones, we are always looking for ways to protect our investment.
Great news for Wells Fargo credit card holders! With eligible credit cards, you can get up to $600 of protection for your phone. With only a $25 deductible, you can have peace of mind.
To participate in this benefit, make sure to pay your monthly cell phone bill with your Wells Fargo credit card. Build your credit and protect your phone at the same time!
With the rising cost of education, students do all they can to save money. With Discover it, your good grades could be earning you a $20 credit to your bill every month.
$20 could equate to a couple of free pizzas or some morning frappucinos. Why not get rewarded for your hard work? Keep your GPA 3.0 and above, and say hello to some “extra credit”.
Enjoy a complimentary 4th-night stay as a card benefit with Citi. When you book a stay at a hotel designated as “Complimentary 4th Night Eligible”, through Citi’s website thankyou.com, they cover the 4th night for you.
Once you book your stay of at least 4 nights, you will see the savings at checkout. You can enjoy up to 2 of these complimentary nights per the calendar year.
Go ahead, extend your stay. It’s Citi’s way of thanking their credit card holders. Visit their website for more information about booking your hotel stay.
If you use the American Express Platinum credit card, you will be able to enjoy access to the American Express Centurion Clubs. These airport lounges are better than the ones you’ve visited before!
The American Express Centurion Clubs can feature gourmet meals. You may even be able to enjoy their complimentary spa treatments and massages. This sounds like the kind of layover you can enjoy.
With self-discipline and wisdom, you can use credit cards for your benefit. There are many benefits to using a credit card, besides using them to build your credit, like the ones listed above.
There are many credit cards to choose from. Each credit card offers unique rewards and benefits. Make sure to review the fine print before choosing the credit card that is right for you.
For more ideas on finances in today’s economy, check out some of the other areas of our website!
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