Your credit card is an important tool when it comes to your finances. This is precisely why you should do everything you can to get the most out of it. You may not realize it, but there are a number of things you can do to maximize the use of your card.

This article presents a couple of interesting tips that every cardholder should remember.

Get the most out of your billing cycle

How you pay your monthly bills is crucial to maximizing your card. For example, if you pay off your debt on time and in full, you can avoid being charged interest. This is probably the best way to use your card. This is because you are technically getting a free loan from your card provider.

Of course, there are still a couple of tricks you can do to make things better. Consider this: If you make a charge one day before your statement closes, you’ll have about 20-25 days to settle that charge. However, making that same charge one day after the statement closes will give you a total of at least 55 days to pay that charge. This is because that charge will carry over to the next billing cycle.

Another important trick to remember is that some card providers allow their users to delay their expiration dates, thus extending their payment cycles. This can certainly help if you find yourself in a financial bind. However, you should be aware that you will not be able to do this repeatedly.

Always ask to be reconsidered

If your initial credit card application was denied, you should never hesitate to request reconsideration. There is always the possibility that your creditworthiness has not been properly assessed. Keep in mind that the process itself is not perfect, so mistakes are bound to happen.

Just call your card provider right away. Explain to them why you deserve to be approved for that particular card. If you’re convincing enough, the person on the other end of the line might give you the card you want.

Threatening a chargeback

Asking a merchant for your money back is often a wasted effort. Fortunately, credit card users have a slight advantage over people who pay in cash. As a credit card holder, you are entitled to a chargeback option.

The chargeback option is an important trick that all card owners should remember. All you have to do is call the merchant and ask to speak to a supervisor. Let them know you want your money back. However, if your initial refund attempts are declined, tell them you intend to request a chargeback from your card provider.

It’s virtually guaranteed that the supervisor will change his mind once you threaten him with this. This is because a chargeback means higher trading fees. They would rather return your money than charge you additional fees.

Get the most out of your reward cards

As you may have already noticed, many reward cards rely on tricks to make you spend more. Don’t fall into this trap. Overspending is one of the worst things you can do with your credit card. Instead, you should try to use these cards creatively. Earn reward points the smart way.

For example, if you want to qualify for a sign-up bonus, try using your credit card to purchase gift cards. Just make sure that you will use them in the future. That said, buy them from retailers you visit often.