The credit crunch is here and with it enforced dieting and caravan holidays in Devon. OK, it might not be that bad (and we certainly don't want to cast aspersions on caravans, Devon or indeed, dieting) but the fact is that almost every aspect of daily life is affected by the current financial crisis. Utility bills are soaring and petrol prices are still unbearable as the UK's debt increases by 1 million every 8.5 minutes. If you are feeling the effects of the crunch then you will no doubt be looking for ways of saving every penny that you can. One way of saving money is to apply for a new reward credit card and use it wisely.

One way to make savings with reward credit cards is to apply for those offered by the major supermarkets. These cards often have reward schemes attached that help reduce the cost of the weekly shop. At present families are spending 15 more on their weekly shop than they were at the same time last year, and this is directly a result of the current economic difficulties. With such a huge increase surely any way to reduce the cost is going to be helpful.

Supermarket reward credit cards work by offering discounts on goods and service, or by giving reward points. One card available, from one of the major supermarkets, offers 5 reward points for every 4 spent on the card. These points can then be redeemed for cash off your shopping bill. If you use the card on a weekly basis then the savings can add up and yearly are quite substantial. Other cards of this type give points that can be redeemed in a number of participating stores. The type of card that you choose ultimately depends on your lifestyle, where you shop and you spending habits.

Another card that can help is a travel-related reward card, especially if you are one of the 24% who have cancelled their holiday this summer because of the crunch. With one of these cards you may still have time to book somewhere in the sun and make a saving into the bargain. These cards work by giving free Airmiles when you use it for purchases. The number of Airmiles varies; one card offers 1.5 Airmiles for every 1 you spend. Some of these cards also give rewards for having the card in the first place, one company offers 20,000 Airmiles if you spend 250 in the first 90 days; this is enough Airmiles to buy a return flight to Italy.

These are only a couple of ways that money can be saved by clever credit card users. There are many other offers available offering similar savings in other areas of everyday life. If you want to know more about the types of cards available then simply look online for details. Whereas many people are hastily trying to pay their cards off and shutting down their accounts, this may not always be such a great idea. Reward credit cards can actually help in this time of turmoil and make things a little easier on the wallet.

Although these are only two of the types of reward cards available the benefits are clear. If you look online you will find many more offers that can help make savings in nearly every aspect of life. Although at first applying for a new card in the current economic climate may seem like sheer craziness, this may not be the case. In order to be accepted for a new card you will have to have a reasonable good credit rating and this implies that you have handled your money well in the past, that a new card may not be such a risk, and may actually help reduce your outgoings.