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Many people overlook valuable credit card perks and strategies that could save them money and boost their rewards. Whether you’re brand new to credit or a seasoned cardholder, these seven little-known credit card tips could save you thousands of dollars over time.

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1. Annual fees aren’t always a bad deal

While it may seem like a waste to pay for a credit card, annual fees can often be worth it. Premium cards with fees as low as $95 can offer perks like travel credits, airport lounge access, or purchase protections that far exceed the cost. And that’s not even including a welcome bonus that can easily be worth hundreds of dollars. Analyze your spending, and check out our list of best credit cards to level up your wallet today.

2. Balance transfer offers can save you thousands

If you’re carrying high-interest debt, a balance transfer card can be a game-changer. Some credit cards offer 0% introductory APR on balance transfers for up to 21 months, allowing you to pay down your debt without accruing additional interest. However, be mindful of balance transfer fees, which typically range from 3% to 5% of the amount transferred.

3. Credit limit increases can improve your credit score

A higher credit limit isn’t just about having more spending power — it can also help improve your credit score. By increasing your credit limit, you lower your credit utilization ratio, a key factor in credit scoring. Your credit utilization ratio is your outstanding balances divided by your total available credit. Keeping that number below 30% is essential; strive for keeping it below 10% if you want to reach the highest credit score you can.

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4. Rewards can expire

Your hard-earned rewards points or cash back bonuses aren’t always guaranteed to last forever. Some rewards credit cards have expiration policies for unused rewards, typically ranging from 12 to 24 months of inactivity. To avoid losing value, review your card’s terms and set a reminder to redeem your rewards before they expire.

5. Cards offer built-in purchase protection

Many credit cards include purchase protection as a standard benefit, covering theft, damage, or loss of eligible items within a specified timeframe. For example, if your new smartphone is stolen within 90 days of purchase, you may be reimbursed under your card’s policy. Check your card’s terms and conditions to see what’s covered and how to file a claim.

6. Foreign transaction fees are avoidable

Traveling abroad? Don’t let foreign transaction fees — which can add up to 3% to every purchase — eat into your budget. Many travel-focused credit cards waive these fees, saving you money on international purchases. Before your next trip, ensure you have a no foreign transaction fee card in your wallet.

7. Paying your bill twice a month can help your credit

Splitting your credit card payments into two installments per month can improve your credit score. This reduces the balance reported to credit bureaus, lowering your credit utilization ratio. For example, if you spend a total of $1,000 during the statement cycle, but you pay off $500 of that amount mid-cycle, your reported balance is significantly lower. This strategy is especially helpful for those aiming to build or repair credit.

Understanding these little-known credit card facts can unlock significant savings and benefits. Review the terms and conditions of your current cards, and explore options that align with your financial goals. With the right strategies, your credit cards can become valuable tools for building wealth and financial security.

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