How Using Credit Cards Can Save You Money
| Self Development : Money This might seem like an odd title - credit cards saving you money! But if you are disciplined with your spending then this can be exactly what happens. The reason is all to do with payment cycles. When you pay by debit card, or cash, the effect is that the money leaves your account instantly. However with a credit card you do not lose the money straight away - you get credit of 30 days or less and only at your billing period do you have to part with the cash. The bottom line is that the money stays in your account for longer, enabling you to benefit from any extra interest that would accrue on that money during that time period. Depending on the money and interest rate on your account this could vary from next to nothing or a sizeable amount; so if you have the discipline to stick to the limit on your card and always pay it off in full, then this could be the way to go.
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