By David
It is no secret, credit card companies have numerous ways to separate you from your money, but you can end up on top if you take advantage of reward programs and swipe responsibly. Almost all credit card companies offer some form of reward program, so it’s only a matter of finding what works best for you. Here are a few tips that will help you score card rewards and make the most out of them.
Focus on programs that reward you for being yourself
There’s no point getting a credit card that only rewards you for activities you never partake in, now is there? The way most reward programs work: the lending institution gives you points towards a reward when you make select purchases. For some, it might be groceries, while others might reward you for making purchases at the hardware store. Obviously, for example, if you’re a carpenter who frequently visits the hardware store to purchase tools and materials, it makes more sense to get a card that rewards you for that.
When in doubt, go with cashback
Even though most credit card companies have some sort of reward program that gives customers cash back, most people elect for other rewards. That’s because many feel there’s more value in the other alternatives, even though that isn’t always the case. For example, some lenders offer up to 3 percent cash back on all purchases, so if you typically spend $2,000 on monthly bills — which many people do — you’ll get back $60 every month.
Use your primary card for all purchases
There’s no point in having multiple reward cards, so focus on having a primary one. That way, you can accumulate rewards a lot faster, score credit card rewards, and also make it easier for yourself to keep track of your points. Sometimes, using one card isn’t a viable option. The main thing is to keep the number of credit cards you have to a minimum.
Click here to compare cashback rewards credit cards
Watch your rewards like investments
The points are yours. You’ve scored card rewards with your hard earned money, so don’t let them go to waste. Rewards often expire after a specified period. Make sure you go over the terms and conditions of your lending institution, and always keep an eye on your points. If you slip and let some points expire, no need to panic, as many credit card companies allow you to buy back your points after they expire. Still, it never feels good to spend money on something you’ve already earned, so try not to be in that position in the first place.
While credit cards can ruin an irresponsible person financially, they have a lot to offer those who are able to manage their finances properly. By following the above tips, you should be able to score card rewards, and maximize the number of points you earn. Don’t feel guilty about taking free stuff from the banks, if you weren’t responsible with your money, they wouldn’t hesitate to slam you with all sorts of fees and charges.
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