MONDAY, OCTOBER 15TH WILL BE MY VERY FIRST “MONEY BY MEL” POST… STAY TUNED!

YES to Credit Cards

In our everyday lives, we make decisions on whether or not to use our debit and credit cards. Often I default to using my Chase Freedom Credit Card to earn points for spending. Don’t be mistaken, I use my credit cards for emergencies BUT there’s an exception. There’s some form of benefit to spending money that I plan to spend anyway. With everything being at your fingertips these days, I check my Chase app almost everyday. If I spend $100 on my Chase Freedom Card, I make a $100 payment that same day to replace the funds I’ve used. That way, I’m earning my 1% cash back or 1% in points on money I planned on spending anyway. Now, that’s just my piece….let’s get into the real when determining when to use your debit or credit card. Let’s talk Pros of using your credit card:

  1. POINTS & REWARDS

    As I mentioned before, why not earn points when you can. I look at it as free money! You have the choice of turning those points into cash back or cash them in for sweet gift cards. I just cashed in a $50 Sephora gift card last week! Who doesn’t love Sephora? Some credit card companies also offer periods where you have the opportunity to earn a higher percentage of cash back. Higher percentage more points! That’s a win win!

  2. FREQUENT FLYER MILES

  3. SAFETY

  4. INSURANCE

    Ever consider adding insurance on your rental car for an additional $13.99/day? Well guess what, some credit cards offer car rental insurance. Honestly, I found this out after an argument with my boyfriend *rolls eyes* haha. But yes, it’s true! Read the fine print on your credit cards! Now, whenever I need a rental car, I use my credit card to make sure I always have rental coverage.

  5. BUILDING CREDIT