The Money Couple Minute:
5 Ways to Use Your Credit/Debit Cards Together
Credit cards are one of the major issues of tension and fighting in relationships. Couples that have a Spender or a Risk Taker Money Personality have to be especially careful. But never fear, couples and cards can mix, here's how:
- Become strategic and intentional as a couple! - In your next Money Huddle talk about how you can win at the credit card game.
- On-line shopping protection - Credit cards can give you a level of protection that you have to have! In case of damaged, fraudulent or disputed merchandise you can reverse the charge at any time. One important fact to know is that if you sign for a debit card purchase you are covered by the same zero liability policy offered by MasterCard and Visa credit cards.
- Rental Car - Many cards protect the driver while renting a car. This is a great benefit and you should check your card to verify you have this protection. We (The Money Couple) got in an accident with a rental car. We were thankful for the benefit!
- Organizes your expenses at the end of the year - Many cards will give you a consolidated report, itemizing your expenses for the year. This is helpful for a family to see where they are spending but is also a huge benefit for those who are self employed! It helps you organize your deductions and see where your cash flow is heading with your business.
- Airline miles! - If used properly, you can build miles for upcoming work trips and vacations. Using miles is a great way to reap credit card rewards.
Remember, these types of perks are not only for credit cards. There are debit cards that offer benefits as well. Jason Henrichs with PerkStreet Financial says, “We give customers 2% back for their debit card purchases. These rewards, which add up fast, can be used for date night, a little extra spending money or saved to pay for a vacation without going into debt.”
If you, as a couple, are communicating clearly about your card, paying them off each month and being intentional and strategic, your Money Relationship will soar to new heights.
Make It Happen!Scott and Bethany Palmer
The Money Couple
Money Huddle Tip: Call your credit card or debit card company and see what perks are available for you to take advantage of!
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