How to Earn Money From Credit Card
How to Earn Money From Credit Card
Hello friends, welcome to Blog Tricker, in this post you will learn about how to earn money from Credit Card. As we know, from banks we give two types of cards to use. Which consists of Debit Card and Credit Card. Can you earn by using credit card?
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| How to Earn Money From Credit Card |
Here you can earn good from your credit card through the way of Credit Card Use.
What is the right way to use Credit Card? Do you know ? Otherwise you can read this article in full and the money can be saved and earned from your credit card.
Smart spending and budgeting are required to use a credit card so as not to get stuck in debt or pay hundreds of rupees in interest and fees.
However, when you shop carefully and make strategic use of your credit card, you can take advantage of rewards, points and other perks to earn or save money. And you can do it without putting yourself in debt as long as you follow two basic rules: charge only what you can afford and pay off your balance each month.
Know, using a credit card carefully can help you lose, rather than earn.
Right now I have 3 credit cards - to spend money, no. to earn money. You must have only heard that the use of credit card is used only to spend money. But what can you earn with Credit Card? Here we will know about 7 such ways to use Credit Card. In this article, 7 Ways To Earn From Credit Card will be learned about the methods. In this article, we will learn about how to earn money from Credit Card.
What is the difference between Credit Card and Debit Card?
First of all, we will know the difference between Credit Card and Debit card.
When we make payment with Debit Card, then this Amount gets your account directly deducted.
But when you make payment with credit card then it does not cut the money immediately, because you get money on loan. And how much time does this loan get for 50 days. If your statement is generated in the month of March on the 15th, then if you spend on the 16th date, then this expense will not come in the statement of April 15 and you will have to fill this money in the statement of 15 May. Between this, you can use the Credit Card without any interest rate. You get an Interest Free Amount for 50 Days. Get Intrest Free Loan for 50 days. Can you take advantage of Interest Free Loan? Yes You can take advantage of a 50-day Interest Free loan. I am going to tell you 7 ways.
7 Ways To Earn From Credit Card
Method 1: 50 Days Interest From Saving Account
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| How to Earn Money From Credit Card |
The way of this is that you can keep those money in your Saving Account. For this, you have to use a credit card, the amount of Amount you have shopped with your credit card, put the same amount in your Saving Account and we get interest on Saving Account. And when the credit card due date comes, break it and make credit card bill payment.
Example: Suppose the laptop with which I have written the article, I had to buy the laptop and believe that this laptop is worth 1 lakh, if I have money in my Saving Account, then it has two options if I pay with debit card If paid through, then 1 lakh rupees will be deducted from my account today. And the second option is with me that if I pay with a credit card, if I pay with a credit card, then money is not deducted from my account. Now 1 lakh rupees are lying in my account and suppose we get 4% interest on saving account, then 6000 rupees of the year and 500 rupees of the month and 50 days of interest is 833 rupees. This is your saving.
Method 2: No Cost EMI Option
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| How to Earn Money From Credit Card |
If you use your No Cost EMI Option then you will get time to put more time in a Saving Account because this money is not going to be deducted from my account at one time, you have to fill a Fixed Amount every month.
If we purchased a laptop without No Cost EMI Option, then you received Earning of 833 rupees and if we choose No Cost EMI Option and make 6 months EMI without any interest and assume this EMI Amount then you will get your 16666 If per month comes, then after 50 days you have to fill EMI of Rs 16666 which is to be paid to you out of your 1 lakh which is in the Saving Account, then you will have 100000 - 16666 = 83334 rupees to save in the savings account on which you will be Getting interest
Similarly, you will continue to get interest on your savings for 6 months + you will also get interest of 50 days because you will start filling EMI after 50 days.
Method 3. Improve Your Cibil Score
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| How to Earn Money From Credit Card |
If you spend millions with a debit card then your Cibil Score never increases, but if you spend with a credit card, then your Cibil Score increases. But the thing to note is that you kept paying Timely. How will you benefit from increasing Cibil Score Let's know. Suppose you have taken a loan at 18% according to which your EMI is 10000 but your Cibil Score will be good, then you will get a low Enterest Rate Offers. Assuming you have a Loan Approve at 12% due to a good Cibil Score, you will get EMI. If you get 8000 rupees then you will save 2000 which is your earning.
Method 4. Earn Attractive CashBack:
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| How to Earn Money From Credit Card |
You must have seen this, you get different cashbacks on different credit cards. Cashback Offers are available on your shopping site, using which you can save well. Suppose you bought 10000 mobile in 10% cashback offer, then according to 10% you will be saving 1000, this will be your earning of 1000, which will be on using credit card.
Method 5. Earn Reward Point on Credit Card:
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| How to Earn Money From Credit Card |
When we shop using a credit card, then Reward Point is added to your credit card. And you can withdraw these Reward Points in Cash, which will be earned by using your credit card.
Method 6: Income Tax Benefit On Business Expenses
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| How to Earn Money From Credit Card |
Suppose you have purchased a computer for computer work in your office, then it will become your official expenses because you use it for business work which is not your personal, so you can show it in Tax Benefit as well. Due to which you will also get tax exemption.
Revenue - Expenses = Taxable Income
Method 7: Track All Your Expenses on Statement
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| How to Earn Money From Credit Card |
The big benefit of using credit card is that you are getting a record of all the expenses that you are spending, which is in the form of credit card statement. Now you can monitor your own Unwanted Expenses with the help of Credit Card Statement and reduce those expenses or stop them altogether.
Golden Rules for Using Credit Card
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Golden Rules for Using Credit Card |
1. Fill your Credit Card bill on time. If you do not make credit card payment on your time, then you will have to pay only 18% which you have thought to save 6%. Therefore, it is very important to pay on time.
2. Spend no more than 60% of your credit card limit. If you use more than 60% limit then your Cibil Score will be down. This will cause your negative marking.
3. Keep Sufficient Balance in your Saving Bank Account. Spend on credit card only if you have balance in the account. The same people do the biggest Mistake because there is no balance in their account but if you spend with a credit card, then you do not already have money and if you used your credit card from above, then they will fill it. And then you get caught in the interest rate trap of the Credit Card. You should know that even after 1 minute of payment, you have to pay 500 or more Amount Paid even if you have Paid Paid after that.
4. Won't spend credit card because you have a credit card. People do it now that I have a credit card, I will take it, I will take it and I will take it on EMI. With which you start spending unwanted expenses and the credit card people want you to use the credit card. With this, they also increase your limit from time to time. They understand that if not today, then tomorrow it will give us an interest rate because at any time you can get EMI Paid, there will come a time when you cannot fill with EMI time, the only reason for this is to do the Unwanted Expense from Credit Card.
Now you must have understood how to use the Credit Card so that you earn Earning from it, rather than filling the Earning money as an interest in the Credit Card.
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