Ask Away...: The Great Alternatives To Credit Cards

Monday, January 8, 2018

The Great Alternatives To Credit Cards

There’s a lot of money in the world, despite a lot of it being controlled by a select few, and that means everyone has a bit to go around. However, having the right control over your money whilst still living comfortably can be a hard balance, and often it feels like you’re walking a very thin tightrope over the ocean! And there’s no better offender to this feeling than having and using a credit card. Yet, you’re not always going to need to turn to one when you realise the amount of options there are out there. Let’s take a look at a few of the best.

Options with Lower Fees

You could look into something like peer to peer lending. This is something relatively new that exists mainly online, so once again thanks to the internet for making our lives better! It involves you and your situation being matched up with a lender who’s stocked away a lot of savings, and are willing to make a good investment in other people. That could be you! There’s little fees involved in the process, and if you have a good to middling credit score, you’re worth a look.

If these options haven’t convinced you there’s more out there than simple credit cards, you could always try to apply to something with lower fees or interest rates. A lot of them can be found on lists like these, so take a browse for something that’ll give you a better chance with your money.

Use a Prepaid Credit Card

Having a credit card can quickly lead to you looking into how to fix your credit fast, but there’s so many types out there you may not have heard of that don’t affect how your credit report looks at the end of the month.

For example, using a prepaid card means you’re only spending what you allowed yourself to in the first place. You can spend this money anywhere and you’re totalling in control when it comes to the money on it; use it up then top it up without incurring any bank fees. On the other hand, if there’s no money you can’t spend. It works both ways!

Use Reward Programs

A lot of cards out there offer rewards for their use, and sometimes this can be a gateway into overusing it. However, when it comes to things like cashback, discounts, and free tickets, often this risk is made up for. If you don’t have a card with a reward program attached to it, look into one now and see what it could do for you.

These cards are often handed out by big retailers and offer a lot of maneuverability when it comes to their stores. Collecting enough points in these kinds of offers can even mean a lot of money back at the end of the fiscal year, and a lot of opportunity for the summer!

Use these alternatives to your advantage as often they’re better for your credit and savings.

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