Make Money Work Harder (MMWH) - how to make credit cards work harder for you
I have a dozen of cards in my wallet and while I need to do lots of bill payment to different banks every month, the savings or rewards I get make it all worth it. My rationale is that since the money has to be spent, make it work harder for you. Here's my algorithm for using my cards to maximise my rewards. This runs inside my head prior to every card transaction I make. The order matters. If it's all too confusing or too much hassle for you , fret not. Just focus on 3 questions, what is your total expenditure per month on things that are chargeable to cards? Is there a few spend categories that make up most of your spend? What's your preferred reward type? Then, you can identify what's the best way to make your money work harder for you. 1. Immediate discount at Point of Sale If a certain card gives an upfront discount just by using a certain card , just use it. So you can typically save 10-20% off the price just like that. Examples: look ...