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It is (sometimes) possible to buy stocks with a credit card, but it’s rarely a good idea for most people. Most brokerages do not allow you to directly fund your account with a credit card, and even if you find a brokerage that does, the fees associated with buying stocks with a credit card can outweigh any advantages.

Before you buy stocks with a credit card, make sure you understand the risks as well as the benefits. Investing in the stock market always comes with a degree of risk. If your investments lose money, you may not be able to pay off your credit card statement, which will mean that you’ll have to pay additional interest.

Using Your Credit Card to Buy Stocks

Most brokerages do not allow you to use your credit card to buy stocks. For example, SoFi’s online trading platform does not permit you to fund your account with a credit card. Brokerages generally don’t allow you to buy stocks with a credit card to help comply with the federal regulations governing financial products, such as stocks.

However, while you can’t purchase stocks directly with a credit card, there are still ways you can use your credit card to fund your purchase of stocks. This includes using cash back rewards to fund investments as well as taking out cash advances. Another option is to use a credit card that allows you to transfer funds to a checking account, which you can then move over to your brokerage account.

Recommended: Tips for Using a Credit Card Responsibly

Benefits of Buying Stocks With a Credit Card

You generally aren’t able to buy shares of stock with a credit card, and even if you find a workaround to do so, the risks mostly outweigh the potential benefits.

Perhaps the main benefit if you’re investing with credit card rewards is that it can offer a way to put the rewards you get from your everyday purchases toward your financial future. While there’s no guarantee of success in investing, it’s possible the rewards points or cash you invest could grow in the stock market.

Risks of Buying Stocks With a Credit Card

Just like buying crypto with a credit card, buying stocks with a credit card comes with considerable risk. If you attempt to do so, take note of the following potential downsides:

•   Investments in the stock market may lose value. If this happens, you may have a hard time paying off your monthly credit card statement in full.

•   There are fees associated with buying stocks with a credit card. If you can find a brokerage that allows the purchase of stocks with a credit card, you’ll generally pay a fee to do so. Additionally, if you opt for a cash advance to use to buy stocks, you’ll also run into fees, not to mention a higher interest rate. There’s always a chance your investment returns won’t offset these costs.

•   High credit utilization could affect your credit score. Making stock purchases with your credit card, taking out sizable cash advances, or racking up spending in order to earn rewards could all drive up your credit utilization, a major factor in determining your credit score. Having a high credit utilization — meaning the percentage of your total credit you’re using — could cause your credit score drop.

•   You could get scammed. If you’re getting offers to buy certain shares with your credit card, there’s a chance it’s a scam. Do your own research before making any moves, and be wary before providing any personal information.

Recommended: Can You Buy Crypto With a Credit Card

Factors to Consider Before Buying Stocks With a Credit Card

There are a variety of different factors that you should keep in mind before buying stocks with a credit card.

Investment Fees

If you do find a brokerage that allows you to buy stocks with a credit card, they will likely charge a credit card convenience fee. This fee, which helps the brokerage to offset their costs for credit card processing, usually runs around 3% of the total price of your investment. Starting 3% in the hole makes it very difficult to make profitable investments.

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Cash Advance Fees

If your brokerage does not support buying stocks with a credit card, you might consider taking out a cash advance from your credit card. Then, you could use the cash to fund your brokerage account.

However, this transfer will often involve a cash advance fee, which typically will run anywhere from 3% to 5% of the amount transferred. Additionally, interest on cash advances starts to accrue immediately, which is different than how credit cards work usually, and often at a higher rate than the standard purchase APR.

Transfer Fees

Another way to use your credit card to purchase stocks is by making a balance transfer. You can transfer funds from your credit card to your checking account, and then move that money again to your brokerage account. In addition to the hassle of moving money around, you’ll likely pay a balance transfer fee, which is often 3% or 5%. Plus, interest will start accruing on balance transfers right away unless you have a 0% APR introductory offer.

Interest

If you’re not able to pay your credit card statement in full (because your investments have decreased in value), your credit card company will charge you interest. With many credit card interest rates often approaching or even exceeding 20% APR, this will very likely swallow up any profits from your short-term investments.

You’ll also want to look out for interest getting charged at a higher rate and starting to accrue immediately if you opt for a cash advance or a balance transfer.

Recommended: How to Avoid Interest On a Credit Card

Avoiding Scams When Buying Stocks With a Credit Card

Because most reputable brokerages don’t allow you to buy stocks with a credit card, there are occasionally scams that you need to be on the lookout for.

Watch out for individuals or lesser-known companies that say you can buy stocks with a credit card through them. Do your own research to make sure it is a legitimate brokerage and offer before using these other companies.

Recommended: Does Applying For a Credit Card Hurt Your Credit Score

Does Buying Stock With Your Credit Card Affect Your Credit Score?

The act of just buying stock with your credit card won’t affect your credit score any more than any other purchase on a credit card. However, your credit score might be affected if you aren’t able to pay your monthly balance off in full. One of the best ways to improve your credit score is to always make sure that you have the financial ability and discipline to pay off your credit card statement in full, each and every month.

Additionally, your credit score could take a hit if you use too much of your available balance or even max out your credit card with your stock purchases, as this would increase your credit utilization. Also, you might see an impact on your credit if you open a new account to fund your stock purchases. This is because credit card applications trigger a hard inquiry, which will temporarily cause a dip in your score.

Alternatives to Buying Stocks With a Credit Card

As you can see, buying stocks with a credit card generally isn’t a great option — or even possible with most brokerages. If you want to start investing in stocks, you might consider these other ways to do so:

•   Cash back rewards: Then, you can take your cash back rewards that you earn and use them to invest in stocks or other investments.

•   Employer-sponsored 401(k): A great way to invest is through an employer-sponsored retirement plan like a 401(k). By using a 401(k), you’ll get to invest with pre-tax dollars and defer paying taxes until you make withdrawals in retirement.

•   Brokerage margin loans: If you’re looking to borrow money to invest, one option could be a brokerage margin loan. These allow you to borrow money directly from the brokerage, often at a lower rate than what’s offered by most credit cards. Be aware of the risk involved here though — even if your investments don’t pan out, you’ll still have to repay your loan.

The Takeaway

Very few (if any) brokerages allow you to directly buy stocks with a credit card. If you do find a brokerage that allows you to buy stocks with a credit card, note the fees involved, not to mention the risk of loss in investing and the possibility of damaging your credit score. This is why even if you do find a way to do it, it’s rarely a good idea to buy stocks with a credit card for most people.

One alternative is to get a cash back rewards credit card and then use rewards you earn to fund your stock investments.

FAQ

What is credit card arbitrage?

Credit card arbitrage is usually defined as borrowing money at a low interest rate using a credit card and then investing that money, hoping to earn a higher return on investment. This is often done with cards that offer 0% introductory APRs.

What are the risks of credit card arbitrage?

The biggest risk of credit card arbitrage is that your investments will lose money, or they won’t make enough money to repay your credit card balance. This can cost you a significant amount of interest and/or credit card fees. You should also be aware that having a large balance on your credit card (even if it’s at 0% interest) can have a negative effect on your credit score.

Does buying stock with a credit card affect my tax?

Buying and selling stocks does often come with tax consequences, and you should be aware of how your investments affect your tax liability. How you buy stocks (with cash, credit card ,or in other ways) doesn’t affect the amount of taxes you might owe on your stock purchase.

Should I buy stocks with my credit card?

The way that credit cards work is that you borrow money and, if you don’t pay the full amount each month, you’re charged interest. Some brokerages may also charge credit card processing or convenience fees if they allow you to purchase stocks with a credit card. Because of the interest and fees potentially involved, it’s very difficult to come out ahead buying stocks with a credit card. Plus, there’s no guarantee of success when investing.

Is it safe to buy stocks with a credit card?

Because most reputable stockbrokers do not accept credit card payments to fund your account or buy stocks, you’ll want to be careful with any site that says that it will let you buy stocks with a credit card. Follow best practices for internet safety when trying to buy stocks with a credit card, just like you would before making any purchase online.

Do stockbrokers accept credit card payments?

Most stockbrokers do not accept credit card payments to fund your account or to buy stocks. If you want to buy stocks with a credit card, you will need to find a workaround such as taking a cash advance from your credit card and using that to fund your brokerage account. Just be sure that you understand any cash advance fees and the interest rate that come with that type of financial transaction.

Photo credit: iStock/katleho Seisa

SoFi Credit Cards are issued by SoFi Bank, N.A. pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

¹See Rewards Details at SoFi.com/card/rewards.

¹Members earn 2 rewards points for every dollar spent on purchases. No rewards points will be earned with respect to reversed transactions, returned purchases, or other similar transactions. When you elect to redeem rewards points toward active SoFi accounts, including but not limited to, your SoFi Checking or Savings account, SoFi Money® account, SoFi Active Invest account, SoFi Automated Invest account, SoFi Credit Card account, or SoFi Personal, Private Student, Student Loan Refinance, or toward SoFi Travel purchases, your rewards points will redeem at a rate of 1 cent per every point. For more details, please visit www.sofi.com/card/rewards?cardtype=c. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA/SIPC. SoFi Securities LLC is an affiliate of SoFi Bank, N.A.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .

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The world of earning and burning credit card miles has an undeniable appeal. However, figuring out how credit card miles work can have you falling into a rabbit hole of bonus offers and travel portals.

Before you go click-happy with applying for travel credit cards, it’s important to know how miles work on credit cards. That way, you can make a solid choice in your travel cards, and make the most of your miles. We’ll share the ins and outs of credit card miles, including how they work, how much they’re worth, how to earn miles with a credit card, and how to use credit card miles.

Recommended: Does Applying For a Credit Card Hurt Your Credit Score

What Are Credit Card Miles?

So, what are miles on a credit card? In short, they’re a way for credit card issuers to reward you for using their card to make purchases.

Typically, the more you spend, the more miles you rack up. Depending on the card, you can rack up a higher number of points when booking travel on certain airlines or in certain categories.

Aside from redeeming miles to cover the cost of flights, you might be able to use credit card miles for hotel reservations, ride shares, or car rentals. Many credit cards also allow you to redeem your miles for cash back, gift cards, or online purchases with partnering retailers. If it’s an airline-branded credit card, you might also be able to use your miles for upgrades, free checked bags, and in-flight purchases.

Credit Card Miles vs Frequent Flyer Miles

Credit card miles and frequent flyer miles are customer loyalty incentives that both offer ways to earn miles to redeem for free flights.

Most major airlines have a frequent flyer program. Signing up for a frequent flyer account is usually free, and it allows you to earn miles when you book with that particular airline. Depending on the program, you can also use those miles for travel perks, such as seat upgrades, priority boarding, and free in-flight purchases.

With credit card miles, on the other hand, you earn miles when you make purchases on your credit card. Unlike with frequent flyer miles, you don’t have to make these purchases with a particular airline in order to earn credit card miles. However, you will have to apply for a credit card and get approved to get those miles.

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How Do Miles Work on Credit Cards?

A credit card will reward you with miles when you spend a certain amount on the credit card. Often, cards will offer one mile per dollar spent, though this can vary depending on how a credit card works. In turn, you can redeem these miles for a free flight or other perks.

Some credit cards offer bonus miles for spending in different categories, allowing you to earn more than the standard mile per dollar. For instance, if you use your credit card at restaurants during certain months of the year, you could receive three miles per dollar spent, instead of the usual one mile per dollar.

As for the redemption value (or how much a point is worth in booking flights), that’s worked out between the airline and the credit card issuer. If the redemption value is 1 cent per mile, for instance, you’d need 40,000 miles to cover a $400 flight.

How Much Are Credit Card Miles Worth?

How much credit card miles are worth depends on several factors, including the redemption value, whether you’re booking through a travel portal, and the particular credit card. But typically, each mile is worth 1 cent apiece.

The number of points that you’ll need to book a free flight varies. It largely boils down to the redemption value, or how much a point is worth in dollars. As mentioned before, this value is determined between the airline and the card card company. Additionally, the cost of the flight itself will influence how many points are needed.

Some of the major credit card issuers, airlines, and hotels have travel portals where you can redeem your credit card miles for flights, hotel stays, and car rentals. An incentive might be offered to use these travel portals. For instance, your miles might stretch further if you redeem them through the portal. Or, there might be a featured, limited time offer where your miles are worth more if you travel to certain cities or regions.

How to Earn Airline Miles With a Credit Card

Now, we’ll dig into the fun part: how to earn credit card miles. There are a bunch of ways to rack up airline miles. Let’s take a look at the most common avenues.

Spend on the Card

The more you spend on your credit card card, the more miles you’ll earn. Plus, a credit card might offer the opportunity to earn more miles in certain categories (i.e., 5 times more on flights booked through a portal) or in rotating bonus categories.

While it might be tempting to keep spending in order to earn more miles, remain mindful of your credit card limit and avoid racking up too much debt (not to scare you, but here’s a look at what happens to credit card debt when you die).

Sign Up for a New Card

A credit card might feature a generous sign-up offer. If you hit the minimum on the sign-up offer, you could rack up a slew of credit card miles (just make sure you can afford to still pay off at least your credit card minimum payment).

Typically, you’ll need to spend a certain amount within a particular period after opening your account. For instance, if you spend $4,000 on transactions within the first three months of being a new cardholder, you could net 75,000 credit card miles.

Sign-up bonus offers are constantly changing, so it’s a good idea to check what a card’s intro bonus is currently before you apply. Also make sure to weigh factors aside from just a welcome bonus, like whether there’s a good APR for a credit card.

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Refer Friends

As a cardholder, you also can earn credit card miles when you refer friends. Often, there’s an affiliate link that you can send to your friends and family members. If they decide to apply and get approved for the card, you’ll earn a referral bonus.

Credit card referral bonuses often have limits though. For instance, a credit card might offer a 20,000 bonus miles per referral, but with a 100,000 limit per year. That breaks down to a maximum of five referrals per year.

How to Redeem Credit Card Miles

Once you’ve racked up credit card miles, you’ll need to redeem them. Let’s take a look at how to do so.

•   Credit card’s travel portal: Travel portals usually give you the option to redeem your credit card miles in a number of different ways, such as flights, car rentals, or hotel stays. You might even get a better deal than you would purchasing tickets outside of the portal. Typically you won’t need to provide information, such as your CVV number on a credit card, to redeem your miles.

•   Travel-related platform: Besides redeeming credit card miles through a credit card network’s travel portal, some hotel chains offer their own online platforms. You can choose to redeem credit card miles there as well.

•   Bundling with a partner loyalty program or frequent flyer program: Some credit cards give you the option to transfer your credit card miles to a hotel, airline, or car rental transfer partner.

Recommended: Tips for Using a Credit Card Responsibly

How to Use Credit Card Miles

Perhaps the most obvious way to use your credit card miles is for free flights. However, you may also be able to redeem them for the following benefits as well:

•   Seat upgrades

•   Priority boarding

•   In-flight purchases

•   In-airport purchases

•   Purchases with specific retailers

•   Gift cards

•   Events

Do your homework and look for ways to get the most out of your miles. For instance, some travel portals give you a higher redemption value. In other words, your credit miles will be worth more and go further, and you’ll get more bang for your buck.

How to Check Your Credit Card Miles Balance

Wondering how many credit card miles you’ve racked up? Here are a couple easy ways to check your balance:

•   On your credit card app: You can easily check your credit card miles through the credit card app. Usually, it will also direct you to ways that you can spend your miles.

•   On your online credit card account: Once you log onto your cardholder account, you’ll typically find the number of credit card miles you’ve racked up on the dashboard. You can also see a breakdown of how many miles each transaction yielded. This is important to check regularly anyways, in case you need to dispute a credit card charge or request a credit card chargeback.

•   By contacting your credit card issuer: You can also reach out to your card issuer over the phone to learn your credit card miles balance. Simply call the number listed on the back of your credit card to speak to a representative.

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Other Types of Credit Card Rewards

Credit card miles aren’t the only reward you can earn from using your credit card. Here are other types of credit card rewards you can swoop in on:

Cash Back

With cash back, you earn back a percentage of eligible purchases made with your card in cash. For example, you might earn 3% cash back, which means you’d get 3 cents back for every dollar you spend.

You can redeem the cash-back rewards you earn in a number of ways, such as a statement credit or as straight cash. However, you might not snag great travel deals like you would with more travel-oriented credit card rewards.

Points

Credit card points offer you a certain number of points for your spending on the credit card. You could get two points for every dollar you spend, for instance. You’ll then be able to redeem those points for a wide range of purposes, though the value of the points can vary depending on the card and how you opt to use your points.

The Takeaway

Credit card miles allow you to get rewarded for your spending with your card. You’ll earn miles whenever you make a purchase on your card, and you can then use those miles to cover the cost of flights and enjoy other travel-related perks.

Beyond looking at a credit card’s miles-earning potential, you’ll also want to look at the APR on a credit card, as well as its fees, terms and conditions, and other featured perks. With the SoFi Credit Card, for instance, you can earn cash-back rewards. Plus, travelers will be happy to hear that the card charges no foreign transaction fees.

FAQ

Is earning credit card miles worth it?

As long as you’re using your credit card responsibly, earning credit card miles to use toward free flights, car rentals, travel perks, and other rewards can potentially help you save.

Which types of credit cards offer airline miles?

Many different credit cards offer airline miles. Usually, travel credit cards or credit cards co-branded with an airline offer additional perks or a greater number of miles earned per dollar.

What are the different types of credit card rewards?

The main types of credit card rewards are miles points, and cash back. Each type of reward has its pros and cons, but they all allow you to earn rewards for your spending on your credit card.

What is the difference between credit card miles and points?

Typically, miles can be used for travel, and they may be tied to a specific airline’s frequent flyer program. Points, however, can be used toward a slew of non-travel related rewards.

Photo credit: iStock/Prostock-Studio

¹Members earn 2 rewards points for every dollar spent on purchases. No rewards points will be earned with respect to reversed transactions, returned purchases, or other similar transactions. When you elect to redeem rewards points toward active SoFi accounts, including but not limited to, your SoFi Checking or Savings account, SoFi Money® account, SoFi Active Invest account, SoFi Automated Invest account, SoFi Credit Card account, or SoFi Personal, Private Student, Student Loan Refinance, or toward SoFi Travel purchases, your rewards points will redeem at a rate of 1 cent per every point. For more details, please visit www.sofi.com/card/rewards?cardtype=c. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA/SIPC. SoFi Securities LLC is an affiliate of SoFi Bank, N.A.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

SoFi Credit Cards are issued by SoFi Bank, N.A. pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

¹See Rewards Details at SoFi.com/card/rewards.

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Plastic credit cards are easily destroyed by simply cutting them up with a household pair of scissors. But in recent years, some credit card issuers have started issuing metal credit cards. While these have become somewhat of a status symbol, the problem comes in trying to figure out how to dispose of metal credit cards.

It’s good practice to destroy a metal credit card once you’re done using it so that nobody can access your personal information. However, disposing of a metal credit card is not as easy as using a pair of regular household scissors. Thankfully, there are a few options to consider if you want to know how to destroy a metal credit card.

Why Should You Destroy a Metal Credit Card?

The biggest reason to destroy a metal credit card is to make sure that nobody uses your credit card information.

Even though most credit card companies have a $0 fraud liability policy, you don’t want to deal with the hassle of unauthorized purchases. And even if you’ve canceled your credit card or it’s expired, you’ll still want to destroy it, since it has personal information that might be used in different types of identity theft.

Recommended: Does Applying For a Credit Card Hurt Your Credit Score

Factors to Consider Before Destroying a Credit Card

Before destroying a metal credit card, you’ll want to make sure that it makes sense to cancel your account.

If you’re still using a credit card through automatic payments or recurring purchases, make sure to cancel those or move them to other cards. Once you close your account and dispose of your metal credit card, any such purchases will be declined.

Also take into account any potential impacts on your credit score that closing your account may have. Closing an account could increase your credit utilization ratio since you’ll have less available overall credit, and it could also lower the age of your accounts, depending on how long you’ve had your account. Both factors could lead to a dip in your credit score.

Before moving forward with closing your account, you’ll also want to take a look at your rewards to ensure you wouldn’t lose what you’ve already earned. Also remember that you’ll still need to pay off your card’s balance in full. Keep an eye out for any final payments that might roll in after your account is closed.

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Ways to Get Rid of a Metal Credit Card

If you’re confident you want to move forward, here are some options for how to dispose of a metal credit card.

Sending It Back to Your Credit Card Issuer

One of the best ways to dispose of a metal credit card is to return it directly to your credit card issuer. Most credit card issuers will provide you with a postage-paid envelope to return your metal credit card, if you ask. This can be a great (and relatively secure) way to dispose of your metal credit card.

Returning It to a Physical Bank Branch

Another option for returning your metal credit card to your credit card issuer is by bringing it to a physical bank branch. Of course, this is only a viable option if your issuer has physical branches near you. If your card has reached its credit card expiration date and you want to get rid of it, this can be a reasonable option.

Stowing It Away

Another option for disposing of a metal credit card is to simply stow it away somewhere safe in your house. This could be a filing cabinet, sock drawer, or anywhere else in your home. While this isn’t a great long-term solution, since there is some risk, it may work in the short-term.

Destroying It on Your Own

The final option for disposing of a metal credit card that you’re no longer using is destroying it on your own. After all, this is the preferred solution for most non-metal credit cards. And it is still possible with a metal credit card, though it is a bit trickier, as you’ll see in the next section.

Guide to Disposing a Metal Credit Card on Your Own

For those who want to DIY the destruction of their metal card, here’s how you destroy metal credit cards.

Using Tin Snips

If you have a pair of tin snips, that’s probably the easiest way to destroy a metal credit card on your own. Tin snips should make quick work of most metal credit cards. If you don’t have a pair of tin snips yourself, check with friends and family to see if you can borrow a pair.

Using Heavy-Duty Scissors

While most traditional or kitchen scissors will not do much to a metal credit card, if you have a heavy-duty pair of scissors, you may be in luck. Heavy-duty scissors made of stainless steel or titanium may be able to help you destroy and dispose of a metal credit card.

Mangling It With Pliers

If you don’t have heavy-duty scissors or tin snips, another option is to use a regular pair of pliers. While this may not be the most practical way to dispose of a metal credit card, it could be worth a try.

Drilling Holes Into It

If you have a power drill with metal-cutting bits, you might be able to dispose of your metal credit card by drilling holes into it. You’d just need to drill enough holes in your card to remove any of your personal information as well as the EMV chip. Keep in mind that you’ll need a powerful drill with special bits — it’s unlikely that a regular drill will do the job.

Using a Blow Torch

If you have access to a blow torch, and are knowledgeable enough about it to be able to use it safely, you may have luck using it to destroy your metal credit card. Of course, if you have a big enough shop to have a blow torch, you probably also have a pair of tin snips. That will be much easier, but maybe not as fun!

Throwing It in Your Fire Pit

While you may be able to destroy your metal credit card by simply throwing it in your fire pit, this may not be the most environmentally-conscious way to dispose of your metal credit card. Many metal credit cards have different kinds of metals in them that may not be safe to burn.

Avoid These Methods for Discarding a Metal Credit Card

Out of the many ways you can dispose of your metal credit card, here are the methods to steer clear of.

Giving It to Third-Party Services

One of the top credit card rules is that you should not give your personal information out to anyone. This still holds true, even if your credit card account is closed. Your personal information can still be used for identity theft or other nefarious purposes. Either destroy your metal credit card yourself, or deal directly with your credit card issuer.

Throwing It Away or Recycling It

You’ll also want to avoid simply throwing your metal credit card away or recycling it. You may be trying to take advantage of “security by obscurity,” hoping that nobody will find it. But because of how a credit card works, it’s easy for anybody that has your card to access your account and your personal information. Don’t take that risk — make sure to destroy your card responsibly.

Recommended: Tips for Using a Credit Card Responsibly

Using a Paper Shredder

While most paper shredders do have the capacity to shred a non-metal credit card, it is unlikely that your typical paper shredder can handle a metal credit card. You are more likely to damage your paper shredder and still have an intact metal credit card.

Using Traditional Scissors

Traditional kitchen scissors will not be able to destroy most metal credit cards. While you’re unlikely to damage your scissors, you’re also quite unlikely to make any progress trying to destroy your metal card with a traditional pair of scissors.

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The Takeaway

While it may be trickier to destroy a metal credit card than it is to get rid of a plastic credit card, it’s still important to do. You don’t want your personal information floating around for anyone to possibly use. Even if your credit card account is closed, you still run the risk of someone using the card to steal your identity. The easiest way to destroy a metal credit card is securely sending it back to your credit card issuer.

FAQ

What is the safest way to destroy a credit card?

The safest way to destroy a metal credit card is to securely send it back to your credit card issuer. Most credit card issuers will send you a postage-paid envelope that will allow you to send the metal card back to them. Alternatively, you can return it directly back to a physical branch location.

How do I get rid of a metal credit card at home?

One of the easiest ways to get rid of a metal credit card at home is using tin snips. If you have a pair of tin snips, they will make quick work of a metal credit card. Just make sure to be careful with the rough metal edges once you cut it up.

Can you burn a metal credit card?

It is possible to burn a metal credit card, though it may not be the most environmentally-conscious thing to do. Burning a metal credit card may release toxic gasses into the air.

Can I destroy my metal credit card with tin snips?

Yes, destroying a metal credit card with tin snips is one of the easiest ways to dispose of a metal credit card. Of all the different options for destroying a metal credit card at home, tin snips are the tool that is most likely to be found in the homes of most credit card consumers.

Photo credit: iStock/Katya_Havok

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .

SoFi Credit Cards are issued by SoFi Bank, N.A. pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

¹See Rewards Details at SoFi.com/card/rewards.

New and existing Checking and Savings members who have not previously enrolled in direct deposit with SoFi are eligible to earn a cash bonus when they set up direct deposits of at least $1,000 over a consecutive 25-day period. Cash bonus will be based on the total amount of direct deposit. The Program will be available through 12/31/23. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC.

SoFi members with direct deposit can earn up to 3.80% annual percentage yield (APY) interest on Savings account balances (including Vaults) and up to 0.50% APY on Checking account balances. There is no minimum direct deposit amount required to qualify for these rates. Members without direct deposit will earn 1.00% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 3/17/2023. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet

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Antisocial people tend not to like being around others, which can sometimes be a barrier to getting certain jobs. In reality there are plenty of jobs that do not require any social interaction, making them perfect for an antisocial person.

What Does It Mean to Be Antisocial?

The clinical definition of “antisocial” is someone that shows no regard for others and does not want to be in the company of other people. However, in common usage, antisocial can be used to describe someone that prefers to be alone most or all of the time.

Why It Can Be Difficult for Antisocial People to Find Work

Most jobs require at least some form of interaction, either with customers or coworkers. This can be a struggle for an antisocial person, who would likely prefer to find work that requires limited or no interpersonal interaction.

Antisocial people may also experience anxiety about job interviews, which are typically a prerequisite in the hiring process for many jobs.

What Makes the Ideal Job for an Antisocial Person?

An antisocial person may want to find a job that requires no interaction and can be done from a quiet and isolated location at their leisure. Self-employment can be a career path for antisocial people to consider or jobs that only require interaction through virtual (email, text, etc.) correspondence.

What Kind of Work Does Not Suit an Antisocial Person?

Any job that requires a lot of engagement with others, such as customer service or retail, would likely not be a good fit for an antisocial person. At the same time, any job that requires a lot of on-the-job training or management would likely not be ideal.

15 Entry-Level Jobs for Antisocial People

Antisocial disorder is often diagnosed at a young age. For those looking to start an entry-level career, here are 15 jobs that are well-suited to an antisocial person (with salary data from the Bureau of Labor Statistics):

Computer Programmer

2021 median salary: $93,000
Primary Duties: Write and test code and scripts that enable computer software to function.

Farmer or Rancher

2021 median salary: $73,060
Primary Duties: Oversee the production of crops, livestock and dairy products.

Writer and Author

2021 median salary: $69,510
Primary Duties: Write original copy for personal or business websites.

Aircraft Mechanic

2021 median salary: $65,550
Primary duties: Repair, inspect and perform maintenance on various aircraft.

Craft Artist

2021 median salary: $49,960
Primary Duties: Create original works of art for sale and exhibition using a variety of materials.

Truck Driver

2021 median salary: $48,310
Primary Duties: Pick up, transport, and deliver packages or goods from one location to another.

Machinist

2021 median Salary: $47,940
Primary Duties: Operate mechanical- and computer-controlled equipment used to manipulate metal parts, instruments, and tools.

Embalmer

2021 median salary: $47,780
Primary duties: Prepare the bodies of the deceased for interment.

Medical Transcriptionist

2021 median salary: $30,100
Primary duties: Transfer voice recordings from physicians and other healthcare professionals into formal reports or other documents.

Proofreader

2021 median salary: $43,940
Primary duties: Read content and correct for spelling, punctuation, and grammatical errors.

Assembly Line Worker

2021 median salary: $37,170
Primary duties: Use hand tools or machinery to produce vehicles, electronic devices and other materials and goods.

Animal Trainer

2021 median salary: $31,280
Primary duties: Teach animals skills such as obedience, performance, riding, security, and assisting people.

Veterinary Assistant

2021 median salary: $29,780
Primary duties: Feed, bathe and take care of animals in need of treatment.

Janitor

2021 median salary: $29,760
Primary duties: Clear and sterilize buildings, schools, hospitals and other commercial businesses.

Crematory Operator

2021 average salary: $37,490
Primary Duties: Perform cremations, including the preparation and transfer of the body post-service.

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The Takeaway

Having antisocial tendencies doesn’t mean you can’t find a fulfilling career. In fact, many jobs offer solitude and limited people interaction, which can appeal to many antisocial and introverted individuals.

Regardless of your chosen career path, it’s important to exercise responsible spending and money habits and keep track of your financial goals.

SoFi can help you track your money like a champion, with tools for monitoring your credit score, setting financial goals and monitoring your spending.

FAQ

What jobs require no social interaction?

Computer programmers that work from home, janitors that work night shifts, and farmers and ranch-hands typically have little to no social interaction in their day-to-day work.

What is a good job for antisocial people with no experience?

Artisan jobs, online bloggers, and transcriptionists all provide strong starting salaries and require no formal degree or experience.

Photo credit: iStock/ferrantraite

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

*Terms and conditions apply. This offer is only available to new SoFi users without existing SoFi accounts. It is non-transferable. One offer per person. To receive the rewards points offer, you must successfully complete setting up Credit Score Monitoring. Rewards points may only be redeemed towards active SoFi accounts, such as your SoFi Checking or Savings account, subject to program terms that may be found here: SoFi Member Rewards Terms and Conditions. SoFi reserves the right to modify or discontinue this offer at any time without notice.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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Along with flights, lodging costs are one of the biggest expenses for many vacationers. As such, savvy travelers are likely on the lookout for how to save money on hotels when planning their vacation.

While hotel prices often rise and fall over time based on supply and demand, there are ways to save money on hotels on vacation. This ranges from being flexible about when and where you travel to getting a hotel credit card and taking advantage of cashback rewards. Read on for a full rundown of the best ways to save on hotels for your next vacation.

Recommended: Can You Buy Crypto With a Credit Card

Tips to Save on Hotels While Traveling

Wondering how to save on hotels when traveling? Here are some tips to try.

Getting a Hotel Credit Card

Using credit card rewards to travel for less is one way to save money on hotels while traveling. Most major hotel chains have a co-branded credit card that allows you to earn points for staying with them as well as on your everyday spending.

Additionally, many of these hotel credit cards offer sign-up bonuses. With these bonuses, you may be able to earn enough credit card points for a few free nights just by meeting a minimum spending amount.

There are different credit card rewards programs, so just make sure to choose the one for the hotel where you’re wanting to stay.

Earning Hotel Cashback

One of the downsides of getting a hotel credit card is that in most cases, you’re limited to using your points to stay with that particular hotel chain. If you have a Marriott credit card that earns Marriott Bonvoy hotel points, for instance, you can’t use them to stay at a Hilton or Hyatt.

One way to get around that is to use a credit card that offers cash back rewards. These cards allow you to redeem cash rewards from your everyday purchases that you can then use to pay for any hotel you want.

Recommended: What is the Average Credit Card Limit

Keeping an Eye Out for Deals

Flexibility is key to saving money on hotels, and the earlier you start planning your vacation, the more luck you’ll have in finding travel deals. Many successful vacationers start planning their trips up to a year before they actually plan to travel. That gives you plenty of time to explore your options, wait for deals to pop up, and keep an eye out for sales.

Checking All the Conditions While Booking the Hotel

When you’re booking a hotel room, you’re generally presented with several different room rates. You might have a different rate if you’re a member of the hotel loyalty program, if you prepay for your stay, or if you belong to a specific organization.

These different rates also usually come with different cancellation policies. Make sure to read the fine print before you book, so you can know what to expect during your stay. The fine print could also detail additional fees that the rate doesn’t clearly include.

Looking Out for Free Breakfast

One way to plan a budget family vacation is to look for hotels that include complimentary breakfast with the room rate. If you’re traveling with a family, getting the breakfast that’s included in your hotel reservation might save you anywhere from $20-$50 per day. This can free up some of your hotel funds for other vacation activities, and can make a difference when comparing rates from different hotels.

Joining a Hotel Points Program

Even if you don’t sign up for a hotel chain’s co-branded credit card, you’ll want to make sure to join their loyalty program. There’s typically no cost to join the hotel’s loyalty program, and you’ll generally get perks like lower nightly rates or complimentary Wi-Fi. This can be a great way to save money for a trip.

Taking Advantage of Falling Rates

One strategy for saving money on hotels is to only book a refundable rate that you can cancel at any time. Then, periodically check back to see if the rate has fallen. If the rate is lower than when you first booked the hotel, cancel your original reservation and book at the new lower rate.

There are also services that you can take advantage of if you don’t want to stay on top of price tracking yourself. For example, websites and apps like Hopper and Rebookey can monitor hotel prices and notify you if the price drops after you’ve booked.

Recommended: How to Avoid Interest On a Credit Card

Making Payments in Advance

Alternatively, you can prepare financially for travel by making your hotel payments in advance. Many hotels offer a lower rate when you prepay as compared to a refundable hotel rate where your credit card isn’t charged until your stay. You could save anywhere from $10 to $20 per night by prepaying in advance.

Plus, if you pay with a credit card that offers credit card travel insurance, you’ll have peace of mind that your prepaid funds aren’t lost if your travel plans change unexpectedly.

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Sticking to Your Budget

Like most financial purchases, one of the best ways to save money is to establish a written budget and then stick to it. If you plan for a trip a year in advance, you can make a budget for your trip and then create a travel fund where you put 1/12 of the cost into your travel fund each month.

Recommended: Tips for Using a Credit Card Responsibly

Being Spontaneous

While hotel prices go up and down — sometimes multiple times per day — based on supply and demand, you can sometimes get great deals by booking at the very last minute. If you have a ton of flexibility, you can sometimes find cheap cruises or outstanding last-minute weekend hotel deals. This strategy is best used if you don’t have concrete plans and don’t have a strong preference for where you go.

Using Discounts You Already Have

If you’re a frugal traveler, you’ll want to also take advantage of any discounts that you already have. This could include saving on gas using grocery fuel points, buying discounted gift cards, or using credit card points to offset some of your travel costs.

This is another reason why planning in advance and being flexible can help — the more time you have to plan, the more time for you to take advantage of some of these deals.

Recommended: Does Applying For a Credit Card Hurt Your Credit Score

Apply for a New Rewards Credit Card With SoFi

Lodging costs can be one of the most expensive parts of any vacation, so it’s a good idea to know how to save money on hotel rooms. Hotel prices fluctuate often based on supply and demand, so plan as far in advance as your schedule allows. The more flexible you can be in terms of when you travel, where you go, and what hotel you want to stay at, the more likely it is that you’ll be able to save money on hotels.

FAQ

What days are the cheapest to stay in hotels?

Determining which days are the cheapest to stay in hotels depends quite a bit on where the hotel is and who their clientele typically is. If you’re looking to stay in a tourist-heavy vacation spot, it’s likely that weekends are most expensive. On the other hand, a hotel that caters to business travelers might be more expensive during the week and cheaper on weekends.

What time of the year do hotel prices drop?

There isn’t a set time of day or year when hotel prices drop. Instead, hotel prices vary according to supply and demand. One strategy to save money on hotels is to book a refundable rate initially. Then, you can monitor prices and if the price goes down, you can just rebook.

Are hotels cheaper last minute?

Hotel prices vary all the time, both up and down. It’s possible for hotel prices to go down if you wait until late in the day on the night you want to stay. This can be an option if you have flexibility in your plans.

Photo credit: iStock/aquaArts studio

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

SoFi Credit Cards are issued by SoFi Bank, N.A. pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

¹See Rewards Details at SoFi.com/card/rewards.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

New and existing Checking and Savings members who have not previously enrolled in direct deposit with SoFi are eligible to earn a cash bonus when they set up direct deposits of at least $1,000 over a consecutive 25-day period. Cash bonus will be based on the total amount of direct deposit. The Program will be available through 12/31/23. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC.

SoFi members with direct deposit can earn up to 3.80% annual percentage yield (APY) interest on Savings account balances (including Vaults) and up to 0.50% APY on Checking account balances. There is no minimum direct deposit amount required to qualify for these rates. Members without direct deposit will earn 1.00% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 3/17/2023. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet

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