Using credit cards to earn rewards can be a great way to save money or earn free travel, but it can be difficult to navigate the different types of rewards programs and maximize your earnings. Here are some tips and tricks for earning the most points and cashback from your credit card rewards.
Choose the right credit card
- Research different credit card rewards programs and compare the earning rates, redemption options, and fees.
- Look for cards with high earning rates on the categories you spend the most on, such as gas, groceries, or travel.
- Consider whether you prefer cashback or points, and choose a card that offers the type of rewards you prefer.
- Check if the card has any sign-up bonuses, and make sure you can meet the spending requirement to qualify for the bonus.
Use the card strategically
- Use the card to make purchases in categories that earn bonus rewards.
- Keep track of rotating categories, and make sure to use your card for purchases in those categories when they are offered.
- Use your card for all purchases, including bills and recurring subscriptions, to maximize your earning potential.
- Pay off your balance in full each month to avoid paying interest and avoid hurting your credit score.
Redeem rewards wisely
- Understand the value of your rewards, and make sure you’re redeeming them for the highest value.
- Look for opportunities to transfer points to partners or use them to book travel through the card’s travel portal.
- Be aware of expiration dates and redemption minimums for your rewards.
- If you’re not sure how to redeem your rewards, check the card issuer’s website or contact customer service for guidance.
By following these tips and tricks, you can maximize your credit card rewards and enjoy the benefits of free travel, cashback, or other rewards. Remember to always pay off your balance in full and keep track of your rewards program to make sure you’re getting the most out of it.