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Today due to stiff competition, many credit card companies are throwing in good marketing money to attract new customers and retain old customers. Most of the times, the credit card companies run numerous marketing and promotion programs to maximize the revenues from the cardholders and fend off fellow bankers’ competitions.

You could actually take advantage of these marketing and promotion programs offered by these credit card companies without paying extra. Here are some of the things you can do:

The below apply to Malaysia only. Some other countries may differ.

1. Take advantage of the free gift offers.
Look for a credit card that offers no card fees and offers free joining gift. Some banks offer free mobile phone, free astro, free dvd player or free mp4 player as free gifts. Credit card companies that offer free gifts usually setup conditions to tie you up for two years. If the set condition is not a problem for you to fulfill, you can proceed to apply for the credit card. You can collect the free gift almost immediately upon approval of your credit card.

2. Do not rolling over your outstanding balance.
Make it a point to spend within your monthly means. Do not spend till more than you can afford to pay in your next bill. This way, you can control the extra fees or interest charge to your credit card by the banks.

3. Settle the outstanding amount in full.
Make it a point to settle all your credit card balance in full every month. The bank charges a very high interest on credit card balance. If you settle the credit card balance in full every time you received the statement, you will save on paying the interest.

4. Do not take cash advance from your credit card.
When you take cash advance from your credit card, most banks charge a cash advance withdrawal fee and interest start on the day of the transaction. The cash advance withdrawal fee and credit card interest start from a minimum of 3% per transaction and 15% per annum respectively. Try not to withdraw cash from your credit card unless necessary. This will help you to save on cash advance fee and credit card interest.

5. Maximize loyalty points earning from your credit cards.
Most banks offer loyalty points for using credit cards to make purchases. When making purchases, if there is no price difference in paying by credit card or cash, use your credit card. This way you will enjoy the interest free period of 20 days and earn loyalty points. This is especially true, when purchasing petrol and paying restaurant bills with fixed prices.
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6. Avoid paying credit card annual membership fees
Look out for no fees paying credit cards. Some no fees pay credit cards have conditions attached. Ensure that you are able to fulfill the conditions, if there are, when selecting which one to get. Some credit cards only offer free fees for a certain times period. Once the free fees period lapsed, annual credit card fees will be charged to your cards. If that happen, remember to call the credit card companies to waive off the fees. Due to still competition, most credit card companies will accept your request to waive off the card fees. After calling, if your credit card companies refuse to waive off the card fees, it time for you to think of canceling the credit card and look for another free card from other banks.

7. Take advantage of insurance offer by credit card companies.
Ensure that you buy air-tickets using your credit card that offer travel insurance. This way you can save purchasing additional travel insurance. Some credit card companies also provide delay flight benefit where it will come handy when your flight is delayed too long.

8. Take advantage of the Interest Free Extended Payment Plan
Some credit card companies offer interest free extended payment plan on certain purchases. Check this out and take full advantage of it, if your purchases qualify for this plan.

In order to enjoy the full benefits of the above strategies, you need to have the ability to settle the monthly credit card amount due in full. If you doubt that you are not able to meet this financial obligation, either you cut down your spending or don’t spend. If you are not sure about how to manage your financial obligations, you may like to consider subscribing to a personal budgeting tools or software which is easily available in the net.