No sugar sugar: the prices of goods and services remain high. The American inflation rate was 2.8% for the period of 12 months ending in February 2025, according to the consumer price index of the Bureau of Labor Statistics.
At this rate, each value you can extract from your credit cards can be useful.
As long as you do not accumulate new debts or not add to existing sales on these cards, consider these seven tips to release money for other objectives.
1. Request a change of product
Ask your transmitter if you can upgrade or demo your credit card when it is no longer aligned with your expenditure habits. The demotion of a different credit card is ideal for avoiding annual costs, while upgrade can provide more precious advantages or rewards.
Another advantage with this type of decision – known as “change of product” – is that you will avoid a difficult survey on your credit report, and therefore also the temporary ding in your credit scores that such a survey can cause. (You do not open a new credit account, you simply change your existing.)
Caution: for credit cards for rewards, ask if the points, miles or existing money will be assigned before making the change.
2. Refall your credit limit
Some issuers allow you to reassign a credit limit from one credit card to another in their product portfolio. The reasons why you could explore this option include:
- Avoid maximizing a frequently used credit card.
- Increase your expenditure power in an emergency.
- Win more awards.
- Preserve the credit before closing the account.
- Qualifying for a new credit card with less risks for the transmitter.
Cindy Greenstein, points consultant and Miles and creator of the blog The Points Mom, has exploited this option to increase her probability of approval for a new card with the same transmitter, but she says she does not work with each bank.
“Call a special reallocation line and tell them you only want the card and the bonus,” said New York resident. “It usually makes them feel better to know that they don’t have to extend more credit.”
3. Search for a retention bonus
When you are on the fence to keep a credit card formerly useful, ask the transmitter if he can encourage you to help you decide. As a loyal customer with a good assessment, you may get a retention bonus that gives rewards in exchange to meet a minimum expenditure requirement. The offers may vary depending on the transmitter, and there is no guarantee that you will get one, but it is worth trying.
In the past, Greenstein and her husband have accepted two detention offers totaling around 70,000 points on credit cards with high annual costs. She estimates the offers added to a minimum value of $ 700.
“You should determine if it is worth it, depending on what they offer, so that you keep it,” explains Greenstein.
4. meet bonus requirements with gift cards
When you continue a credit card bonus, do not spend too much to win it. If your budgetary purchases are not sufficient to meet the bonus expenditure requirements within the designated time, plan to use the credit card to buy gift cards that you can exchange later.
You can buy a gift card in a grocery store, a restaurant delivery application or an often frequented retailer. Do not do too much because some issuers have rules against abuse.
5. Negotiate a lower tap
If your account is in order, try to negotiate a lower annual percentage rate with your credit card transmitter. Your solvency is part of the interest rate, but a transmitter may be willing to lower.
Delia Fernandez – A certified financial planner owner of Fernandez Financial Advisory LLC, a company based in California – suggests looking for competing offers in a different bank or credit fund and present them to your credit card transmitter to obtain a lower interest rate.
“You always want to negotiate from a strength position, if you can,” says Fernandez. “So, if you pay your invoices in time and do well, but from time to time, you like to keep a balance on your credit card, it is worth calling them and discovering if they negotiate.”
6. Take advantage of the discounts of card holders
Connect to your credit card account or contact your transmitter to discover the advantages and discounts. The type of offer available will vary depending on the card and the transmitter, but some could include:
Credits or benefits
Some cards offer discounts on delivery services, meal kits, streaming services or other options. Others may provide advantages such as mobile phones insurance if your phone is stolen or damaged. An advantage like this can help you save on a monthly protective payment, although you had to pay the phone bill with the eligible credit card to qualify. Note that the passage of your payment method to a credit card can allow automatic delivery of a carrier, so do the calculation to determine if it is worth it.
Balance transfer offers
Sometimes your existing card can provide balance transfer offers that allow you to go through a debt from a different card or lender, but at a lower interest rate. There are generally costs between 3% and 5% invoiced on the amount transferred, so weigh this cost against the current costs of your card to determine the best option.
Specific offers for merchants
Depending on the credit card or the issuer, you may also have access to rewards or additional discounts with specific retailers. These offers generally require registration or “activation”, but there is no penalty for not Using them and savings can add up.
Travel advantages
Some cards are delivered with valuable advantages related to travel, such as free checkered bags, access to the airport fair and flight credits for eligible purchases, to name only a few. Free verified bags alone during a round trip can partially or completely compensate for the annual costs of a credit card.
7. Maximize the awards
Consider having more than one award credit card to maximize your reward potential. For example, you can associate a card that earns 5% money back in certain categories with a card that earns 2% money back on all purchases. As long as you can keep track of spending on several cards to avoid debt, a dynamic duo of award credit cards can offer healthy incentives.
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Melissa Lambarena writes for Nerdwallet. Email: mlambarena@nerdwallet.com. Twitter: @lissalambarena.
The article uses these 7 credit card tips to stretch your budget originally appeared on Nerdwallet.
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