I’m going to keep this short and sweet. I’ve talked about getting the most out of your rewards cards and how to use receipts to save money, but there were a few things I forgot to mention so I decided to write a quick post about it. These tips are designed to earn you more by using your friends and family. They can apply to anyone you know and trust.
Add an Authorized User
Authorized users can help you reach your credit card bonus goals or just help rake in everyday the cash back. Let’s say that you have a card that is giving 5% cash back on grocery purchases for that quarter, but you hardly ever shop for groceries. Add the person in your household who does the grocery shopping as an authorized user on your card and let them shop for groceries with your card. You will ultimately be responsible for the payments, but you can always have the authorized user pay you back for the items purchased. This is why you should only add authorized users that you trust. This is your credit we’re talking about after all. A few cards also give you a cash back bonus when you add your first authorized user so that’s even more incentive to do it.
Pick Up the Check
Ever go out to eat with friends? Offer to pick up the check now and have them pay you back later. This can work for any group outing. A friend of a friend would pay for part of his friend’s travel expenses with his travel rewards card and get paid later just so he could rack up more points (I only suggest doing this if you have the actual cash for this so you can pay off the card before you accrue too much interest that negates your rewards). Once again, only do this for people you trust to pay you back. Otherwise, you can end up losing money.
Collect Their Receipts
If you haven’t read about how to use your receipts to earn extra cash, click here or else this last point won’t make much sense. This isn’t limited to just your receipts. You can collect receipts from family and friends who don’t want to bother with using apps to get cash from them (I’m looking at you, mom). Or maybe if you’re a little more devious, you don’t share with them what you’re getting from their receipts and keep the money you earn from their purchases a secret. Hey, I’m not judging.
Stay tuned for my next post coming later this week. Don’t forget to click the subscribe button at the top of the page to receive an email update when my new post is up.