How to make money on a credit card: the essence of earnings, cashbacks, terms of use and income calculation

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Surely many people would be interested to know how to make money on a credit card. Some, having heard about this, are unspeakably surprised: is it real? Quite. And what pleases - today almost every person has a credit card.

That is why now we will talk about how you can use it to your advantage.

What's the point?

It's worth starting with a consideration of the principle of such a specific "earnings". In general, there are several options. Here are the most famous ways to make money on bank cards:

• Interest calculation. Here you will need not a credit, but an income card (debit). The bottom line is this: all your income must be put on it. The larger it is, the larger the interest credited to the balance will be. It turns out a more flexible analogue of a bank deposit. However, you have to live on something! This is where a credit card with a grace period comes in handy. If you do not go beyond it, then you will not need to pay interest.
• Cashback. By spending credit funds, you can get some of them back. This is cashback - a bonus from the bank for the fact that a person has chosen it.
• Cashing out credit funds with their subsequent storage on a deposit or income card. Here the principle is clear. But, again, you need to remember about the interest-free period.
• The use of credit cards as a source of financing for small businesses. You can, for example, buy cheap goods and resell them through an online store. But this is a little more difficult. After all, we are talking about entrepreneurship, and here we need ideas and a certain fuse.

Well, these are just some of the ways that are the answer to the question of how to make money on credit cards. Having learned about their specifics, you can proceed to study the details.

Card from Alfa-Bank

Some options deserve special consideration. Now we will talk about how you can make money on the "100 days without%" credit card issued by Alfa-Bank. Its main features:

• With this card you can repay loans from other banks without commission.
• Within 100 days, 0% on the loan is valid.
• Cash withdrawal - 0% fee.
• The limit is 500,000 rubles.
• You can top up from any other cards for free.

This card has no cashback, unfortunately. But it can be used differently. The best option is to withdraw cash and put it on an income card. And then, as needed, cash, withdraw 3-5 thousand rubles.

The same card can beuse for small business if you have ideas. It is an alternative to a line of credit. The scheme is as follows: a person buys a product, and then he has 100 days to sell it and pay off the debt without interest. A pleasant and significant bonus is the profit from sales.

Tinkoff Black card

Even the bank itself hints that this is a profitable product. "Tinkoff" advertises it with the words: "A card that earns." Its benefits:

• Charging interest on the balance (6% per annum).
• Cashback 1% from regular purchases. For every 100 rubles spent!
• Cashback 5% from purchases from three categories. Increased percentage!
• 30% cashback from purchases from Tinkoff partners.
• Cash withdrawal without commission. Even at ATMs of other banks (but from 3000 rubles).
• Multicurrency account.

This card can be used to transfer money without commission. However, it is debit. Tinkoff Bank also has loan offers, and they will be discussed further.

Tinkoff credit cards

The most famous is the Platinum card. She has a lot of advantages. And here are the features:

• Loan up to 300,000 rubles
• The rate is from 15% per annum.
• Installment 0% up to 1 year from bank partners.
• Cashback up to 30% from any purchase.
• Interest-free period of 55 days.

How to make money on a Tinkoff credit card? It is enough just to pay with it, purchasing food, clothes and other services. When points are accumulated, it will be possible to use thembuy a train ticket, for example, or go to a restaurant for dinner. As many rubles will be returned to the card as the points were spent.

And it is also convenient to use the Platinum card to earn money with the aforementioned Tinkoff Black. How?

Let's say a person's salary is 45,000 rubles. It should be credited to the Black card and bought with it in stores, transfer payments for the Internet, telephone, etc. In general, you need to spend 3,000 rubles so that interest is accrued on the balance.

What's going on? The remaining 42,000 rubles will be on the Tinkoff Black card. A credit card "Platinum" a person will pay for everyday needs. In a month, he will receive interest on the balance and bonuses for purchases. Most importantly - no interest on the use of credit funds! Because it will be possible to meet the interest-free period.

Offers from Sberbank

Since we are talking about how to make money on credit cards, we need to pay attention to the most famous bank in the country. It offers several types of cards to its customers:

• Golden.
• "Premium".
• "Classic".
• Aeroflot. There are both gold and classic.
• Aeroflot Signature.
• "Give life." Also available in gold and classic.

How to make money on a Sberbank credit card? All of the above have a grace period, but the “Thank you” bonus system is of more interest. Thanks to her, the client is charged 0.5% for all purchases. Bonuses can be exchanged for discounts in partner companies of the bank.

Aeroflot cardideal for travelers, as with its help you can save on air tickets or even purchase them for free.

You can also connect the Piggy Bank application to any card and not only store funds, but receive income.

Investments

Continuing to talk about whether it is possible to make money on credit cards, we need to tell a little more about the possibility of investing. So, here is a step by step guide for beginner investors:

• You need to get a credit card with a grace period of 50 days (although they don't do less now).
• Then open a savings account.
• When receiving a salary, transfer the amount to him.
• Until the next salary "live" on credit funds.
• When the next salary arrives, it will need to pay off the debt.
• Transfer the remaining difference to the savings account.

Thus, it will be possible to earn a little on the interest charged by the bank. On average, rates vary from 4 to 7%. If, for example, a person has 50,000 rubles on his account, then he will receive 2000-3500 rubles in interest per year. And by regularly replenishing your savings account, you can significantly increase your income.

Before choosing a bank to open such a savings card, it is recommended to study as many offers as possible. Then the probability of determining the most profitable for yourself will be higher.

What is the benefit for the bank?

This question is also asked by many people. Not everyone understands why the bank itself needs this -return money for using credit funds, give cashback bonuses, discounts, etc. What is the organization's interest? How can a bank make money on a credit card if a client wins?

It's simple. Such promotions and cashback are an effective marketing tool that helps the bank compete for customers. It is very important. Indeed, today the number of operating banks in Russia is about 500 (to be more precise - 488)! There are many loan offers, the grace period is almost the same for all. How else to interest people if not with bonuses and cashback?

In addition, cashback makes customers do a lot more card transactions. This is where psychology comes into play. It is much easier for a person to part with borrowed funds, knowing that he will receive a small return for this.

In general, it's better to think about how you can earn money with credit cards, and not about what benefits the bank has. He gets millions for annual and monthly card maintenance, plus more interest. After all, not every person manages to meet the grace period.

How to choose a card?

Many people who want to learn how to make money on a credit card do not have one, but are only going to get one. Therefore, they are interested in the question of how to choose it.

It's really hard to decide. To date, approximately 60-70 banks offer this product, and the number of program options exceeds a hundred. It is difficult to study all of them, so it is recommended to choosefor yourself 10-15 offers from the most popular and consider them.

In addition to finding out the grace period, opening conditions, interest rates and repayment options, you need to pay attention to bonus programs. Often it is they who help to decide.

For example:

• If a person decides to get a credit card just in case, as a financial guarantee, then a card with a maximum grace period will suit him. In this situation, savings on interest plays a decisive role.
• Fundamentally, is it possible to withdraw cash from a credit card? Then it is better to give preference to an organization with a wide network of ATMs. The same Sberbank will do.
• People who travel frequently should choose a card with a bonus loy alty program for railway or airlines.
• Car enthusiasts should pay attention to cards with loy alty programs of car dealers and gas stations. UniCredit Bank is popular among such clients.
• For girls who are passionate about beauty, credit cards are suitable, which can be used to get discounts in beauty salons and beauty stores. Alfa-Bank has such a card, it is called Crossroads. However, other organizations offer similar options.

In general, every person who thinks about how to make money with a credit card needs to take into account only their interests and preferences.

Summary

Well, how to make money on a credit card is clear. Now you can list the most popular options. HowGenerally, people choose from the following cards:

• Alfa-Bank 100 days. Service starts from 1190 rubles. There is no cashback, the grace period is 100 days. In the first month, you can withdraw 50,000 rubles, in the next - the same amount, in the third - also 50 thousand. And put everything on an income card. By the end of the grace period, it remains to return 150,000 rubles. to Alfa and stay in the black without paying interest.
• Alfa-Bank Keshbek. Maintenance - 3990 rubles / year. Cashback: 10% at gas stations, 15% from partners, 5% in public catering, 1% for others. Grace period is 60 days.
• "Raiffeisen All at once". Maintenance - 1490 rubles / year. Cashback: 5% from all purchases. It is charged even for paying utility bills, communications, etc. The grace period is 52 days.
• Tinkoff Platinum. Maintenance - 590 r / year. Cashback: from 1 to 30%. The grace period is 55 days. There are also convenient additional services, mobile banking, etc. In general, this product has already been discussed above. And about how to make money on a credit card of this bank, too.
• Loan card from the Ural Bank for Reconstruction and Development. Very interesting suggestion. Maintenance - 1500 rubles / year. It becomes free if a person spends over 100,000 within 12 months. Cashback - 1% without any restrictions. But the main thing is the grace period. It is 120 days!
• Card from Renaissance Credit. The service is free, cashback varies from 1 to 10%. Grace period - 55 days.
• Card from Eastern Bank. Maintenance - 800 rubles / year. How to make money with a credit card? In the same way as in other cases, but here you can alsosave significantly. Each time, 5% of the amount paid for communications, travel, housing and communal services and even purchases at a pharmacy is returned. Grace period - up to 56 days.
• Card from Home Credit. Maintenance - 4990 rubles / year. Cashback - 1.5% of any purchase and 5% of the payment for tickets, orders in cafes and fuel at gas stations. In partner stores increases up to 10%. Grace period - up to 51 days.

In general, when thinking about how you can make money on credit cards, you must also take into account the amount spent on servicing. Otherwise, if you accidentally choose the last option (indicated for comparison), then it will turn out not to be a profit, but a loss.

Calculation of income

He also needs to be considered. A preliminary calculation of the benefits will help you understand how expedient it is to use a credit card for making money. Depending on the issued income card, you can receive the following income:

• 6% on the balance: 500 rubles/month, or 6000 rubles/year.
• 7% on the balance: 583 rubles/month, or 7000 rubles/year.
• 8% on the balance: 667 rubles/month, or 8000 rubles/year.

But what will be the monthly cashback from different cards when spending on groceries:

• Rosgosstrakh: 1,000 rubles from 20,000 rubles spent. Service: 42 rubles/month.
• "Raiffeisen": 750 rubles from 15,000 rubles. Service: 150 RUB/month.

And here are examples of cashback from the Alfa-Bank card with free service:

• Public catering: 500 rubles from 10,000 rubles spent
• Gasoline: 1000 rubles from 10,000 rubles
• Miscellaneous spending: 70 rubles from 7000 rubles.

It seems that everywhere the percentage is insignificant. It is possible, but if a person or family spends about 100,000 rubles a month, and uses several credit cards for different needs, then more than 50,000 rubles can “run in” from cashback in a year. And there will also be interest from the income card.

To calculate individual income, you need to create your own table of monthly expenses. And then “try on” various credit cards offered by banks to them. There is nothing impossible in getting 5-10 cards and using them. Of course, it will take some time to get used to the new financial scheme, but one month is enough for this.

And getting a credit card is easy. In our age, you can apply online, wait for a call and come at the appointed time to the office with the documents. It is enough to be a citizen of the Russian Federation at the age of 21-23. Today, many banks even issue credit cards to people who do not have formal employment. And this means that almost anyone can make money on cards using one of the methods listed at the very beginning.

Recommendations

Wrapping up the conversation on how to make money with credit cards is worth some helpful tips. So here are people's recommendations based on their experience:

• Make a choice in favor of credit cards with free maintenance. And the more bonuses, the better. Let it be discounts, miles, promotions, partner stores.
• Relate your benefitsneed with maintenance cost. The higher the status of the card, the higher the yield, interest and cashback.
• You can use the debit and credit card calculator to find the right option. With the help of a similar service, it will be possible to pick up a profitable deposit.
• Refuse SMS-informing in favor of Internet banking.
• Never withdraw cash from a credit card. Most banks charge a fee for this. So you need to resort to this method in extreme cases.
• You should open a replenishable deposit with the highest possible rate. Funds that have not been used within a month are really better to keep on a profitable deposit. But in one bank it is not necessary to keep more than 1,400,000 rubles. For it is this amount that is protected by the insurance system.

Well, as you can see, if a person is interested in how to make money on credit cards with a grace period, he will have to study some more additional topics.