Financial experts know the secrets to making the most out of their money. Using rewards cards is one of the best ways to get more "bang for your buck." Here are some tips for being financially responsible and making gas rebate cards work for you:
- Know what rewards your card offers
- Don't forget to use your card for purchases that are eligible for the reward
- Don't lose sight of your budget - only make purchases with your rewards card that you know you will be able to pay off at the end of the month. If you have to pay interest, your rewards are not helping you as much.
- Credit card companies can be very flexible, especially when you have been with them for a while and are paying your bill.
- Call the credit card company if you need to request a credit line increase, frequently they will allow it.
- If you lose your credit card, call the card provider immediately. They will deactivate the old card and send you a new one.
- If you see a fraudulent charge on your statement, call your provider and frequently, they will take the charge off.
- For rewards other than gas, use your card for as many possible expenses you have to get the most for your money.
- Good opportunities for getting rewards exist when paying many everyday bills that you normally wouldn't think of paying with a credit card (things like cable and internet bills, cell phone bills, and utility bills frequently can be paid with a credit card).
Gas Prices: Why are they so high?
Gas prices are a result of many different factors, but the one that seems to be affecting prices the most now is the price of crude oil. Crude oil is typically affected by supply and demand, but political climates can have a big impact as well. For more information and statistics related to US gas usage, visit http://tonto.eia.doe.gov/ask/gasoline_faqs.asp#gas_prices
How Do Credit Cards Work?
Credit cards provide members with the ability to pay for many different products and services using their "line of credit." A line of credit is the amount that the card issuer is willing to let the member spend using their credit card. Nearly all merchants accept credit cards worldwide these days, so they have become a popular alternative to using cash or checks to pay for goods and services. Some of the benefits of using credit cards include:
- Special rebates and rewards, like the ones promoted on this website.
- The security of not having to carry around cash.
- Many credit cards offer buyer protection for goods not delivered.
- Security measures are very good these days, most credit card companies catch fraud quickly, even before the cardholder.
- Stolen credit cards are easily cancelled and replaced, and card providers usually reverse the fraudulent charges immediately.
How do credit card companies make money?
There are a few ways the credit card company's make money. Some of the money comes from processing fees that are charged to merchants. Processing fees vary for each card, and typically range from 1-3%. Merchants accept this profit loss because they know that they will get more sales if they accept credit cards.
It also makes it easier for their customers to shop at their store.
Another way that credit card companies make money is by charging annual fees. Although there are many credit cards these days that don't charge annual fees, there are some who still do. It's important to read your credit card company's policies to find out if they charge an annual fee for use of their card.
Finance charges are probably one of the most profitable source of income for credit card companies. A finance charge is applied to the cardholder when the monthly balance is not paid off in full. This charge is based on the interest rate, or percentage of the balance not paid. Interest rates vary amongst the different credit card companies, and are a product of the prime rate plus whatever percentage they want to charge.
What is the downside to using credit cards?
Finance Charges. For those who aren't good at managing money, it's easy to get behind on credit card payments and start accruing finance charges. The key to making the most out of credit card rewards is not spending more than one can afford to pay off at the end of the month. The problem is, that many people aren't good at that. They get credit cards with the best of intentions, but once they start spending, quickly find themselves "in the hole." For some good tips on managing your money, visit: MyMoney.gov.
Saving Money on Gas: Many ways to go about it
Gas rebate cards are nice, but they aren't the only way we can save money on gas these days. Of course there are the obvious choices we can make every day, like opting to walk, ride a bike, carpool, or take public transportation. But what if those aren't an option? Here are some other possible gas-saving strategies.
Many family households these days have more than one car. If it's possible, try to use the car with better gas mileage to drive the longer distances, or whenever possible if no one else is using it.
Another strategy is to be more alert when it comes to what you're paying at the pump. Once you start noticing gas price differences, you will see that they can vary greatly amongst different parts of town and different cities. Often times, the stations on the outskirts of town will have cheaper prices than those in the center of town.
Did you know that your driving style can save you money on gas? Drivers who speed and accelerate quickly get worse gas mileage than others.
These are just a few strategies we came up with, but I'm sure many of you have gas saving strategies of your own. Feel free to visit and comment on our blog with your tips for saving money on gas.
Tips to Save on Gas with Credit Cards
When the price of gas at the pump seems to be increasing week to week (even though, at times, the reported national average price may drop by a few cents), more and more individuals start to look at options that are available that will help them to save - especially since the price at the pump affects everything from the amount of cash we have on hand to the cost of groceries to the costs of heating and cooling one's home. It is, in part, because of the ways in which we are all affected by the costs of gas that more and more people have started to look to gas credit cards as a possible way to save.
With gas credit cards, a variety of commuters find that they will be able to save at the pump - at least in the long term - provided they are aware of some of the "catches" that come up for those who are looking to save on gas credit cards.
First, if you are looking for more information on how to save on gas credit cards, you are going to want to be sure that you are looking at the fine print on the credit applications and offers that you receive. When you apply to save with gas credit cards, you are going to want to look at the issuing bank to determine what the reputation of the bank is. Some people find that the issuing bank is known for rapidly increasing the interest rates associated with the balance that they carry; others find that the rewards and rebate amounts that are highlighted and promoted are not locked in for the long term.
Because of this, when you are looking to save with gas credit cards, you are going to want to be looking at both the introductory savings rate associated with the credit cards and at the overall rates of the card. For example, a card that starts with a 5% gas rebate may only offer that rate for a period of three months and then drop to a rate of 2% with the potential to drop even lower over time.
Speaking of interest rates, when you are looking for the chance to save with gas credit cards, you are going to want to look at the interest rates associated with your purchase amount. In many cases, those who open gas credit cards with the hopes of saving over time quickly discover that the interest rates associated with purchases, balance transfers and cash advances are considerably higher than those that apply to more traditional credit cards - and some gas credit cards also charge a relatively high annual fee.
Ultimately, you are going to want to be sure that you are taking interest rates, annual fees and the amount that you can save with gas credit cards into account before you open a gas credit card; similarly, you're going to want to be sure that you are looking at a gas credit card that is either affiliated with a gas station where you regularly fuel up or if you will be able to save on gas regardless of where you fill up. All of these elements are going to have an effect on how you save with gas credit cards.
Gas Card Details: BP VISA
Gas Card Details: Discover Open Road
Gas Card Details: Chase PerfectCard
