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Experts believe that credit cards are invaluable tools for managing your finances. If used the right way, it can build your credit score and help you save a lot of money every year. However, credit cards do not come with a smart usage manual. Where people do use it for making payments, they remain oblivious to the potential it carries.

Making credit cards work for you is not difficult if you know what you are being offered. By giving slight consideration to how you use your credit card every day, you can do wonders with this piece of plastic.

If you have been wondering how to use a credit card smartly, following are some of the ways to do so.

Choose the right credit card
Every credit card will have something to offer to you, but get a credit card that can benefit you the most. First, identify your needs by asking yourself, where you spend the most. Is it for your traveling, groceries, fuel, or your lifestyle needs? You can save on almost everything if you choose the right credit card for it.
For example, a travel credit card like Citi PremierMiles is most suited for people who frequently travel for work or vacation. Such credit cards will not only help save on hotel bookings and flight tickets but also provide lifestyle benefits like airport lounge access for free. Similarly, you can reduce your fuel expenditure with a fuel credit card like Citi IndianOil Credit Card. You can even shop to your heart’s content at half the price if you utilize the offers of a shopping credit card like a Citi Rewards Credit Card or Citi Cash Back Credit Card effectively.

Use your rewards optimally
While you might know how to redeem your rewards, using the rewards optimally could make a significant difference in your savings. When you apply for a credit card, get a credit card that offers welcome points. These welcome points could be in the form of air miles, bonus points, or even free fuel that can be redeemed as you wish.
Make a smart travel plan to optimize your travel rewards. Redeem the miles and reward points for booking flight tickets and hotel accommodation. Also, look for additional offers which airlines and hotels provide if you use a particular credit card.
For example, you can get a free stay at a hotel for one night if you book three or four consecutive nights with them using your travel credit card.

Discipline in bill payments
To make credit cards work in your favor, it is equally important that you practice self-discipline in bill payments. While the facility of paying only the minimum amount on your balances looks alluring, it is not a wise decision. Always pay your bills on time and in full to avoid balance accumulation. You might lose a lot of money on interest and penalty if you delay or miss paying the bills.
Similarly, never max out your credit card limit. Try to maintain your debt utilization ratio (total debt as compared to the credit limit on your card) below 30% to maintain a good credit score.
It is easy to use credit cards to your advantage if you use utilize all its perks and benefits optimally. Where this will help you save significantly, it will also simplify the process of making payments. Get a credit card now!

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Make the most of your savings, everyday spend, shopping escapade and travel experience with Citi. View all credit cards and apply for a credit card with Citi to start enjoying the offers today.

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