How to make a profit with a credit card
The competition in the banking market is very large, so banks use different promotions, discounts and bonuses to attract customers. The grace period on a credit card today will not surprise anyone. But not every credit card can return a part of the money spent. The CashBack service allows you to return a part of the spent money back to the card. However, many do not know about the valuable possibilities of credit cards. Or consider such earnings not serious and a waste of time. But if there is an opportunity to get additional profit, why refuse it?The refund amount can be from 1% to 10% of the money spent. The percentage of return depends on the choice of credit card. Each bank offers its own terms for using a credit card.
Before applying for a credit card, it is necessary to consider the offers of several banks. It is necessary to approach the choice of a credit card responsibly, since your earnings will depend on it.Find out what the maximum return percentage can be on the proposed cards. Be sure to get information about the amount of annual maintenance of the card. And how and in what way the money will be refunded - in bonuses, miles or rubles. It is very important to know for what kind of purchases and services you can benefit. Each bank has partners, so CashBack can only be in certain stores, restaurants, hotels and gas stations.
I want to immediately assure that a credit card without annual service and a 10% return for any purchases does not exist. If the bank offers a large percentage of CashBack, then the cost of service is higher or the interest on a credit card is higher than that of competitors.
To choose a profitable card, it is necessary to make calculations and find out what the biggest expenses are made per month on a plastic card. For example, products are mainly bought for cash, but refueling a car with gasoline occurs on the map. Or the main costs go to food and medicine. Choose a card that you will use more often where you can get CashBack.
I will give a simple calculation of using one of the credit cards. The amount of annual maintenance is 900 rubles, 3% CashBack for any purchases.
For example, the monthly family expenses for food, medicine and services amount to 20,000 rubles.15,000 of them are made by credit card, and 5,000 in cash. In addition, another 5,000 rubles go to pay with a gas card. Total per month credit card expenses amount to 20,000 rubles. 3% CashBack from this amount will be 600 rubles, therefore, 7200 rubles per year. We will deduct 900 rubles for the service and get 6300 rubles in net. The amount is small, but you can buy a good gift for the new year.
As you can see from the calculation, the higher the cost of a credit card, the higher the income. To receive a credit card with a monthly expense of less than 5,000 rubles may be impractical and unprofitable.
It is easier to spend the money when the cashback is in rubles. If CashBack is in bonuses or miles, then you need to find out in which stores you can spend bonuses, as well as what ratio or rate of bonuses to rubles. You can also spend miles, respectively, only at the bank’s partners.
The range of credit cards is very large, so anyone can choose the most suitable and profitable credit card. If you do not have a credit card, then it is time to get it and start earning.
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