How to Get The Most Out of Credit Card Rewards

Rewards points and perks are one of the main drawcards for using a credit card. If you want to use your rewards points as efficiently as possible, you’ll need to have a strong grasp of your card’s payout and bonus rate conditions. To kick-start the research process, read on for our three top tips for getting the most out of your credit card rewards system.

1. Compare Reward Offerings Between Competing Credit Card Providers

For such an important financial decision, it’s amazing how little thought people put into selecting a credit card. Before adding another credit card to your wallet, make sure you’re considering its rewards system and how it stacks up against other popular credit cards.

2. Try To Only Use a Single Credit Card

Once you’ve found a credit card with a great rewards system, try to funnel as much of your spending as you can through this card. As your points balance builds, you’ll have the flexibility to spend your points on more cost-effective payout options. Remember, it’s almost never cost-effective to spend extra money for the sole purpose of accruing more rewards points.

3. Be Aware of Your Points Balance Conditions and Terms of Services

Depending on your credit card provider, your rewards points may have an expiry date. To avoid losing your hard-earned points, make sure you keep a record of any rewards expiry dates. It’s also a good idea to frequently check your credit card rewards platform for any changes in the terms of service that affect how you accumulate or use your points.

Photo: Pexels

More

Investors in the tech industry have pointed to trouble ahead after some closely followed measures of tech valuations have revealed that they are,...

Few things feel as good as having a beautiful and well-organized home. An aesthetically pleasing environment is good for your mind, body, and soul...

Wouldn’t you love to have a space in your home solely for relaxing and meditation? Everyone gets stressed out and worries from time to time and...

Everyone ought to have a special place where they can unwind and relax after a hard day’s work. For many people it is their bedroom. You can own a...

Life insurance is a personal insurance product that allows an individual to designate a beneficiary in the event of their death. When the...