Cashback credit cards are highly valuable things. Many people use them, and they help a lot of people keep afloat, financially.
That being said, there are a number of rules to do with cashback credit cards. You should take note of these as you use your card, so that you can both maximize it’s potential and avoid any trouble.
Before that, visit https://www.roshi.sg/credit-cards/cashback/ for more information.
Take a look!
Overdue Credit Card Bills are Insanely Expensive!
An overdue credit card bill builds up very quickly. If you leave it for even a few months, you’re looking at quite a bit of debt. Any longer than that and your credit card will end up maxing out, leaving it completely useless until you pay it off.
You Cannot Use Another Credit Card to Pay It Off
It may seem like a good strategy to use your cashback credit card and then pay off the credit with your other credit card. Sadly, you cannot do this. You must make sure not to overuse your card.
Don’t Waste Money on Rewards
When short-term rewards turn up, it is always good to look into them. However, don’t overspend on a reward that gets you too little. If you need to spend a fair amount of money on something you don’t need for a reward worth less than the amount you spent, it isn’t necessarily a good idea to go for it.
Make sure to only follow rewards that actually help you, in the long run.
Never Withdraw Cash on your Cashback Credit Card
Withdrawing cash on any credit card costs you a huge amount in interest. The cost will be charged to you right away and it isn’t a pretty number.
These are just a few of the top rules that pertain to cashback credit cards. Try your best to remember them. Don’t make any of these mistakes and you should do just fine!
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Happy shopping, everyone!