Why you should buy everything with credit cards — provided you meet 1 condition

If you're wise about how you use the cards, having several credit cards and playing the rewards game can save you hundreds of dollars annually.

Whether or not you carry a balance is the key decision point, according to Ted Rossman, senior analyst at Bankrate.com and Creditcards.com.

"I believe that since credit card rewards are so fantastic, you should use them for everything. Over time, they can pile up quickly. Better fraud precautions and buyer protections are provided.

The hefty interest rates on credit cards are "the one major drawback," he continued. Credit cards are fine if you're paying in full and avoiding those, but.

Responsible credit card users who don't carry debt often save $300 to $400 annually. In 2022, Rossman received $1,701 in credit card rewards. But, making the most of your credit cards depends on your spending patterns and identifying the benefits that will cost you the least.

Choose a card that offers 5 or 6% cash back on groceries if your household spends a lot on groceries, advised Rossman. "That right there is a really nice inflation buster. Consider getting a second card with a stable fixed rate, like 2% cash back on everything, he suggested.
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