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Ten Ways Families Can Save Money with Credit Cards

Using a credit card for everyday purchases or big-ticket items can be a convenient way to build your credit history and expand your household purchasing power. However, if you don’t use a credit card wisely, you will have a bad credit score and unnecessary payments on fees and charges.

Here are ten ways families can save money on credit card spending and enjoy the benefits of responsible credit card ownership.

Ten Ways Families Can Save Money on Credit Card Spending

To save money using credit cards, it’s crucial that you clear balances, get 0% APR offers, and opt for cash-back offers. Another way to save is to use card benefits, collect and use airline miles, and choose purchase protections. You may also take advantage of sign-up bonuses and use discount brand partnerships.

Person using a calculator while dollar bills and a notepad are placed in a table

From cash-back benefits to discounts on name-brand items, your credit card can be more than a convenience. Here are tips on saving money and using a credit card wisely while avoiding high-interest rates.

Never Carry a Balance

You’ll avoid interest charges by paying your credit card bill every month. Interest charges on credit cards can be expensive, mainly when you regularly use credit cards with a cash advance fee.

When you carry forward a credit card bill, you are charged interest for the entire period your bill was due.  Some may require you to pay the cash advance fee.

Thus, before you even consider the possibility of saving money with a credit card, make sure you control your spending and budget to avoid carrying a balance forward.

Get 0% APR Offers for Big-Ticket Items

If you can access a credit card offer with 0% APR for a limited time, this offer may be an excellent way to help you pay for a larger purchase like a car or engagement ring, while using a credit card wisely. 

This way, you can save money and avoid depleting the household budget you rely on for important expenses like housing, bills, and everyday necessities. This is a great way to facilitate larger credit card expenses without negatively impacting your family’s budget for regular expenses. 

Look for a Generous Cash-Back Credit Card Offer

To improve your family’s savings with a credit card, find an offer with strong cash-back based on your spending. With a good credit score and positive credit history, you will have more access to favorable cash-back credit card offers. 

By choosing the right credit card offer, you can make a tremendous difference in the value of credit spending, whether you want to pay less interest or earn more credit card points. In effect, you can spend money using a credit card with an interest rate. 

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Get Benefits for Dining Out

Another great way to save money when using credit cards is to seek a card designed to reduce your expenses on luxuries like dining out. Every meal out is an opportunity to save using a credit card with a strong dining reward package. 

Avail Cards With Grocery and Gas Benefits

Analyze where you spend money the most to avoid paying higher interest rates. Every dollar you can save on these credit card expenses can go a long way toward helping your family manage household finances.

With this in mind, you’ll want to shop around for credit card offers that include generous benefits for spending extra money at the supermarket and the pump, helping you improve your finances and save money.

Collect and Use Credit Card Airline Miles

Whether you must travel for business, to visit family members, or for vacation, the right credit card offer can help offset this major cost and save money. And you can do it by using your credit card for everyday expenses. 

Instead of using cash, you can use your credit card while traveling to accrue even more benefits and discounts, letting you save some extra money on your transactions.

Take Advantage of Credit Card Sign-Up Bonuses

A few opportunities to save (or receive rewards) come with your new credit card offer. 

  • Consider getting a new credit card with a low ongoing interest rate while letting you accumulate cash.
  • You may be required first to utilize your new credit card for a set period.
  • Sign-up bonuses are another great way to maximize the value of your credit card usage. 
  • Look for credit card loans with a much lower interest rate.
Various kinds of credit cards are placed on the card holders of a long brown wallet

Seek a Credit Card Offer With Purchase Protection

Using a credit card to make a purchase—as opposed to using cash—you enjoy certain assurances from credit card companies. 

  • Your credit card company can and will assist in instances you have been victimized by retail fraud. 
  • This can save you a great deal of money or cash if, for instance, you are victimized by a dishonest online vendor. Many credit cards offer something called purchase protection. 
  • Using a credit card with this type of protection to make purchases can ensure you will pay the lowest price on any item you buy.
  • This means you can save money on purchases of all kinds just by using your credit card. 
  • Pay attention to the high interest rates you must pay to save money.
  • Be on the lookout for a cash advance fee on top of any credit card ATM withdrawal fees you need to pay.
  • Avoid credit cards with easy cash withdrawals.

Look for Discount Brand Name Partnerships

As long as you’re using your credit card to shop, make sure you do this shopping through the array of companies that credit card companies identify as preferred partners. 

Every major credit card issuer maintains ongoing relationships with an extremely wide variety of brands and vendors. With the right credit card, these relationships can benefit you. If you know how to leverage the discounts your credit card company issued, you can avoid paying more than you have to. 

Teach Your Children How to Use Credit Cards 

This is your chance to introduce your children to the basic rules of credit card usage.

When you make credit card spending a part of your family’s savings plan, you’ll also have the chance to help your teenage children learn how to navigate responsible credit card usage and avoid incurring debt

Person putting a coin in a black piggy bank with various coins scattered on the table
  • Explain how not paying high interest rates can prevent them from saving money.
  • Discuss the importance of learning when to pay the credit card bill to avoid getting charged interest and potential late fees.
  • Explain why should credit card holders need to pay charged interest rates.
  • Discuss how any cash-back, miles, or points earned will be negated by the amount you owe in credit card interest and fees.

Related Questions

Can Having a Credit Card Damage My Good Credit Score?

Having a credit card won’t damage your good credit score. However, not paying your credit card dues on time and accumulating debt can ruin your credit score.

What Are the Different Types of Credit Cards That I Can Choose From?

The various types of credit cards from credit card companies you can choose from include rewards, cash-back, travel, and business credit cards. Some banks also offer lifestyle credit, corporate credit, and student cards.

Can College Students Get Credit Cards?

College students can own credit cards. However, you’ll need parents or a trusted adult to co-sign the application if you’re under 21 and don’t have an independent income or extra money.


To spend money and save by using credit cards, you must pay down any credit card debt that might be holding you back. You must prevent the incursion of interest charges for most credit card benefits to help your family’s finances.