The Credit Card Story So Far
- Use them
- They help build your credit rating
- They delay money going out of your account allowing you to earn more interest
- Your purchases have better protection
- You may be able to earn points or cashback
- They require careful money management, particularly with regard to knowing what money you have coming in and what money you have going out.
The Cashback Catch
The Cashback Solution
Obviously the only problem is working out how much to spend each month on each card. Here's how I did it: I earn 3% on my spending up to £100 a year. This mean that to get £100 I must have had to have spent £3333.3 in the year. Divide this over 12 months gives me my monthly spending: £277.7 or £280. The rest of the spending for that month can be done on the other cashback card.
Readers, what cash saving tips do you have?
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