I met a friend recently and he confidently told me that You know there are smart ways of funding your holiday that is free but unknown to many.
Of course being a financial coach it got my ears tickled as I am always excited when I come across information like this because it is not only that I want to take advantage of such products ( especially if it puts money in my bank account ) but also because another good info to share with my coaching clients.
Which is what I am doing now through this blog. As I normally spend my budget amount anyway though I have been using my debut card and I have mastered the act of always spending below my means ( income).
If you are yet to learn how to live below your income..I do not recommend you use this financial product -credit card until you have done so. The aim of this is to make your money work for you hence I call this winning with money Tip.
If you are disciplined, can delay gratification and have mastered the art of controlling money( not money controlling you) then this financial product is for you.
- No fee on the credit card account
- You earn loyalty point on every pound spent
- You earn additional 6000 points if you use in the 1st three months.
- You pay no interest IF you pay your balance every month when due( which is my recommended way of making credit card work for you)
- When you spend up to an amount in a year ( £20000) you get a companion voucher to travel ( which can be used for your spouse or anybody you want to travel with).
For me it’s a WIN WIN Card if you use credit card anyway . As soon as I OPENED this account I just closed my other credit card that is not giving me any additional benefit other than credit. Why did I have to close the existing credit card you may be asking- It’s because I do not want to have more credit accounts than I do need . If you have more cards than is needed and are not using the credit it might , this can lead to a drop in your credit rating . For a good credit rating you are advised to always use up to 30% of your available credit. i.e if you have £2000 , try to always use up to £600 every month.
HOW I USE IT
I conveniently put all my regular bills on my credit card ( which is regular anyway). e.g phone bills, water bills, groceries etc
All the school fees are now on the card just to make sure I have more points even if it is not go to 20k all the points still counts towards discount for my travel.