In any dental business, overhead is a fact of life. Specifically, we are talking about recurring and consistent bills month-over-month, like lab tests, supplies, utilities, and routine repairs. A gander at the books might reveal that these bills add up.
But beyond being merely the price of doing business, these charges represent an opportunity for you to leverage these costs to earn credit card points, which you can use for items you truly value. If this sounds fun to you, then here are a few pointers on how to participate from Dr. Jason Annan's article on DentalTown.com.
The Right Charges on the Right Card
To play this game well, you have to follow a couple of guidelines. First, only charge for the expenses you'd need to pay anyways. Second, this isn't an invitation to make extraneous purchases. Instead, this process is merely a means of transfer where, amid that transfer, you gain whatever promotional points or perks that credit card offers.
If you follow this first rule, you may take advantage of the best way a consumer can use a credit card. In other words, if you pay an expense with a card and promptly pay off the balance, what you have is essentially an interest-free, one-month loan. With each monthly cycle where you cover the costs on a credit card and then immediately pay it off, you will accumulate bonuses depending on what you value.
Get to Know the World of Perks
One of the most common promotions credit cards offer is 2% cashback on all purchases. The math for this option is easy enough to use as a basis for comparison on other possibilities. For example, if you were to charge $5000 a month for expenses over one year, you earned $1200. That's not a bad chunk of change just for paying the bills.
But if you want to take the game to the next level, take some time to shop for a card that offers better rewards. For example, some cards offer double points with certain purchases, such as office supplies. So if you happen to spend a lot on those particular purchases, you will earn a lot of bonuses.
A Few More Pointers
Now that you know the essentials of the game, you can work on points for style. Here are a handful of tips and tricks to maximize your returns:
- Don't fear multiple cards – If you use them responsibly, having numerous cards won't hurt your credit score more than other factors, like payment history and credit utilization.
- Get new cards often – Keep your eyes open for the latest promotions and sign-on bonuses.
- Travel offers great returns – In general, exchanging points for travel promotions can yield up to a four-time return.
- Earn and burn – If you're earning points for travel, use them promptly before the card issuer changes the terms.
Learn More from Dr. Jason Annan at East Cooper Smiles
For more information on utilizing credit cards to pay expenses and earn perks, check out Dr. Annan's comprehensive article with several more valuable recommendations. Anyone can play the game, and anyone who plays should play it well.