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There are tons of articles out there that give you advice on earning more cash back on your credit card; most of this advice centers on using the card more often and avoiding fees. Here’s a tip that may prove more useful but can be dangerous and costly if you aren’t careful. Setting up automatic payments onto your credit card can be a great, carefree way to earn more rewards each month.
Instead of setting up payments for things like Netflix, Gamefly, XM Satellite and other subscriptions on your debit card put your cash back card on file. As long as you stay on top of your account balance and don’t go over your limit you won’t be charged any fees. You know you’re going to pay for these services anyway so why not earn a little cash back on top of it?
Here’s a look at what you can be saving by setting up automatic payments onto your cash back card. With an average Netflix subscription price of around $15 per month you can be earning between $0.15 to $0.75. Gamefly can earn you about $0.25 to $1.25 per month. As you can see, these small services really add up each month, especially if you have a number of subscription-based services you use regularly.
Setting up all of these accounts and subscriptions on your credit card is usually very simple. Log in and check your account settings. Replace the card on file with your credit card. Remember: always be aware of when charges will go onto your account and pay your bill in full each month to avoid interest. This can be an easy and worry-free way to earn a bit more cash back with your card every month. Just be sure you don’t go over your credit limit because you forgot about some recurring charges on your card!