Most people think that credit cards are only a piece of plastic that you often use for paying for your goods and services. But wait; there are various other opportunities to save money on the purchases and also to earn rewards such as gift cards, travel, cash back, and other goodies. There is no doubt that the ins and outs of credit card rewards are somewhat complicated. It is imperative you know how the game should be played. Have a look at the 5 credit card hacks that can help you save money.
5 Credit Card Hacks That Will Save You Money
Reassessment
If any point of time, your credit card application has got rejected, then you may be questioning yourself as what you could have done to avert such a situation. But, the actual truth is that there have been instances in the past where the applicants have been turned down in spite of having good credit. The reasons for the denial could vary from having an excessive number of recent applications to having already too much credit extended.
Nevertheless, you can request the card issuer or your bank to have your application reviewed by a representative. At that point of time, in order to cut down the exposure to a possible default, you can propose closing down of an existing account or transferring some part of your credit line.
Waiving Off Late Fees
Everyone make mistakes and it is a human nature, but making a late payment for your credit card can prove costly. But, on the brighter side, the card issuers are eager to waive off these late charges if you make a humble request. There is no doubt that the credit card industry is quite competitive and the card issues give more importance towards attracting more and more customers. Therefore, in a sense, it is worth for the card issuers to waive off the late fees and perhaps interest charges as well in order to keep the good customers.
Bonus Bumping
Have you ever signed up for a credit card having lucrative sign-up bonus only to discover that there is a different offer available with a much better bonus? You don’t need to worry as you may make the request to have that other offer. All you need is to inform your card issuer about the offer and make a request for the other offer code to be applied to your account.
Asking For The Bonus Rewards
Most of the credit card issues offer promotions that offer you a chance of earning bonus rewards in the form of cash back, points, and miles. For instance – there are probabilities that you get 3x rewards whenever you make purchases from a supermarket or a gas station during a given time period.
At times, such offers will arrive in the mail or online, but other times you may have to make a call and ask for these rewards. By making a call to your card issuer on regular intervals, you can get to know if there are any bonus offers that can be applied to your account.
Waving Off Annual Fees
Pretty much like the late fees, you can also waive off credit card’s annual fee by calling your card issuer. There are cases in which the fees will be waived off easily, while other times you may have to indicate your intention for the cancellation the card, mentioning late fees as the reason.
Doing so will probably result in transferring your account to some other representative in their retentions department, where they are authorised to waive off the fees or offer other benefits to keep you as a customer. For instance – a card offering reward points or miles may not waive your annual fees, but there are chances that it may offer additional rewards worth as much or more as the annual fee.
So, there you have it. Go on and use the above-mentioned credit card hacks and save money.
