7 Best Items to Put on Your Credit Card

In our blogs, there’s one thing that we’ve always stressed time and again  – you should never charge anything to your credit card that you can’t afford to pay off in full. This is because unless you pay off the entire amount on time, you’ll not only rack up hundreds of dollars in terms of interest charges and late fees, but you may also get yourself in debt. However, if you are among those who use their card responsibly, you can gain a lot from this financial instrument. All you need to do is charge the following items on your card, and watch the rewards and benefits flow in.

1. Electronics and Appliances: By putting these expensive items on your card, you can undoubtedly earn huge rewards in terms of cash back, travel miles or rewards points. Moreover, there are three additional benefits. Most networks, such as Visa and MasterCard, offer extended warranties on these purchases, meaning if they are damaged within the card's warranty period, they’ll be repaired or replaced free of cost. Some cards also offer purchase protection (which covers loss and theft), and price matching. Price matching means that if the price of the item you bought gets lowered within a certain time frame, the issuer will refund the difference to your account.
2. Travel Arrangements: Depending on your card features, it may offer benefits like travel insurance, emergency services, trip cancellation service, medical assistance and rental car insurance at no additional charge. In fact, you can also earn travel miles, free flights, hotel stays, discounts on car rentals and vacation packages, free upgrades, lounge access and even cash back.
3. Online Purchases: Many credit cards offer protection against fraudulent charges, as well as guarantees for items lost or damaged during shipping. In comparison, debit cards offer a shorter time to consumers to discover fraud. If these users fail to report the illegitimate activity within 60 days, they can be held liable for the entire amount.
4. Payment to Service Providers: Those service providers who accept credit cards are also bound by their terms and conditions. If they don’t complete the job, or if the cardholder is dissatisfied with the quality of work done, he can dispute the charges.
5. International Purchases: Many credit cards are available that do not charge any foreign transaction fees. This benefit, along with wide acceptance, ease-of-use, and favorable exchange rates, makes a strong case for using cards for international purchases.
6. Tax-Deductible Expenses: Many expenses, such as business expenses, charitable donations, health care expenses, childcare expenses and qualified education expenses, are tax-deductible. The benefit of putting such items on a credit card is that you don’t need to maintain hard copies of extensive documents and records. You can simply present your billing statement to the tax authorities to prove your deductions.
7. Recurring Charges: As long as you are conscientious about paying off your bill on time and in full each month, you should link recurring charges, such as health insurance premiums, subscriptions, gym memberships, and so on to your card. This will ensure that everything is paid on time, and you’ll only have to manage one credit card bill each month. Moreover, this way, you can earn cash back or reward points for these expenses.

Many cardholders also try to use their credit cards for loans. However, this is inadvisable because if you are unable to pay it back at the end of the month, you’ll have to pay high-interest charges. Nevertheless, at Fund&Grow we use creative credit card financing to enable clients with good credit to receive as much as $250,000 of unsecured credit at 0% interest. Available for a period of 6, 12 or 18 months, this amount can be used for anything – from funding a business to providing down payment on a property. So, if you need financing of this sort, call us at (800) 996-0270 and we will take care of the rest.