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You can maximize credit card rewards

You Can Maximize Your Credit Card Rewards!

by / 0 Comments / Mar 27, 2015

You can maximize credit card rewards, and it’s easy. Why have a rewards credit card if you never charge with it and use the points? Many cardholders who do possess these cards don’t the most of them. To really capitalize on the benefits, some effort is required. Don’t worry, it’s not much – just some extra attention. Want to maximize credit card rewards? Of course you do! Follow these maximize credit card rewards tips on how to build points that will transform into cash and other valuables:

  • Start ahead of the game.
    An astounding number of rewards cards are on the market, so when sifting through them, pinpoint the program that offers the most sign-on points for the least amount of trouble. These bonuses can be super generous, like 100,000 points for spending just a couple of thousand dollars in a few months. As long as you’re qualified, go for it.
  • Don’t have too many cards.
    The more pieces of plastic you have, the more work you’ll have to do to ensure correct charging. You can maximize credit card rewards points with just one or two accounts. It’s never a good idea to have more credit than you really need.
  • Keep abreast of promotions.
    Credit issuers are constantly fine-tuning their rewards program and partnering with new businesses. Then they offer additional points if you shop at that particular retailer or buy certain types of items. Do you really know when you get five points as opposed to one for every dollar you charge? If not, find out and fast-track your accumulation process.
  • Remember that points will never outperform debt.
    “Oh, I’ll just put it on my card and get the points,” is great, but you’d better be sure that you can repay the balance in full first. Charge $4,000 and spread the debt out over three months (assuming an APR of 17 percent) and the finance charges would be $114. Let it linger for a couple of years and it will cost nearly $750. Rewards points can’t offset those figures. Only charge what you can afford to repay quickly.
  • Maximize credit card rewards by making it a team effort.
    If the account is jointly held and two people are permitted to use it, make a concerted effort to build all the points you can as a unit. Each cardholder should know where and when they can swipe for maximum effect. Together, review the status of the account often. Establish a reachable goal too, such as building enough for a couple of round trip tickets to a special destination. Have fun working toward it while you maximize credit card rewards.

Maximize credit card reward points and make rewards cards a rewarding experience!

About the Author

Erica Sandberg is a renowned personal finance editor, advice columnist, and reporter. She hosts her own video program, Making it with Erica, and is a frequent guest on national news shows, from Fox to CNN. Her book, Expecting Money: The Essential Financial Plan for New and Growing Families was the first to address the specific financial needs of new parents. Erica is the spokesperson for some of the finest businesses and products in the U.S., including Western Union, the Better Business Bureau, Bank of America, CVS Pharmacy, Michael Minna Restaurant Group, Bounty paper towels, Chase Card Services, and Assurant Solutions. Prior to her her current journalism career Erica was affiliated with Consumer Credit Counseling Service of San Francisco for ten years.

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