The credit-savvy individuals among us have been able to use credit cards to save money in the most efficient and intelligent way possible, even when they charge their credit cards.

You can achieve a lot more by using your credit card than if you only use cash.

Use these strategies to get the most out of your credit cards.

1. You can only use the award card if your balance is paid in full.

Awards cards offer higher rates of interest than regular credit cards.

You can only get American Award Cards if you are able to pay off your entire balance each month.

You should choose lower-interest cards if you are unable to commit to such a schedule.

2. Pay on time, and pay more than minimum amount

If you have good payment habits, it will help to avoid the excessive charges and finance penalties that are imposed on your account.

If you can’t afford to pay the full amount, paying more than the minimum will save you some interest in the long run.

Some credit cards offer rewards for good behavior.

3. You should consolidate all your credit card debt.

Customers often use the same method to reduce their credit card debt.

The balance transfer cards they use offer an APR of zero percent or less on the amount transferred, although for a limited time. Be sure to do a cost/benefit assessment before you implement this strategy. The majority of credit cards have a charge for balance transfers (normally about three percent of what you owe), which you must pay when you switch.

To avoid a rise in your credit card rate, you should also determine if you can pay off all of your outstanding debts before the promotion period ends.

Even if you can’t make the balance transfer work, a new credit card with a lower interest rate might be worth it if your old one has a higher APR.

4. Contributing to arbitrage credit card systems? Be careful

It is harder for cardholders with a shrewd mind to set up any cash-making systems by using their credit cards.

In previous years it was relatively simple to make money by using cards. Simply take borrowed money and put them in a higher-interest savings account, which led to a high yield.

Savings accounts no longer offer such large returns, and there are fewer balance transfer cards available with great terms and conditions. Therefore, this plan has become less profitable.

It is still played by individuals, but the game requires excellent structural skills, since any payment late can cost you much more than what you could earn using this strategy.

5. Always carry an extra credit card

You can make a great compromise if you still want to benefit from credit awards. Keep your awards card, but only use it for items you are able to afford each month.

6. Don’t rely on your credit cards as an emergency.

Some individuals are not able to have emergency fund Many people rely on their cards to get them through every situation.

You will likely retain the balance if you do not have any savings. This is because you may need to use your money for unexpected costs. Retaining your balance also means paying more in interest.

It is tempting to use your credit cards for a backup, but it can be expensive in the end if you are charging a lot.

Some credit cards are a bit tricky.

Pay off the balance at the end each month. It can be difficult to pay off the entire balance.

The interest rate on credit cards can be high and the amount increases abruptly.

So, take the bulls by the horns. Trim your expenses.

Watch the payments shrink. You can save a lot of money if you deal with your arrears in a decisive way.