5 Ways To Make Money From Your Credit Card
Look for the best credit card rewards and offers.
The impressive potential of credit cards has been on display during the past year and a half as Americans used their cards for everything from buying gas to booking vacations. Equifax reports that Americans opened 11.5 million new accounts in January and February 2022. And they opened 233 million more from April through June 2022, according to the Federal Reserve Bank of New York.
What was a main force behind the dramatic increase? Rising costs from inflation. But with a variety of card options available, lenders face strong competition for your business—and they’re working hard to incentivize you to spend with them. Here’s how to pick the credit card that works best for you—and even makes you money while you spend.
1: Earn in earnest.
Many cards offer cash back, but what keeps evolving is the percentage you get—and the categories that the cash back applies to. Cash-back categories have long been gas, groceries and dining, but now some cards offer rewards for electric vehicle charging, philanthropic donations and professional services, including legal assistance and accounting.
2: Get the sign-up bonus.
Some credit cards provide a statement credit as an introductory offer when you use their card on qualifying purchases. Others have an introductory period during which the cash-back bonus is higher.
3: Play to your passions.
Do you prefer to be rewarded for travel? Love to see a statement credit? Select a card with rewards that suit your lifestyle so you can optimize the financial benefit.
4: Take the offer.
Credit card companies often partner with retail and service brands to grant discounts or offers on their products. For example, Mastercard partners with brands including DoorDash and Lyft, while Visa partners with 1-800-Flowers and Crocs.
This card is issued by US Bank NA dba ACG Card Services, pursuant to a license from VISA USA Inc. Equal Credit Opportunity Lender.