When it comes to your credit card reward points, you want to get the most out of them. If you think about it, your rewards points are basically the equivalent of free money. So you definitely want to use them wisely.
Today I’m going to give you three tactics that will help you maximize your rewards points.
Let’s start with this obvious but often overlooked tactic.
Align your credit card rewards with your actual interest.
When it comes to reward card programs, they come in many different shapes and sizes. With some you can accumulate points for merchandise, for others it’s travel miles, then with others, it’s gift cards or cash back.
Your first goal if possible is to make sure your rewards points are actually going towards something you have an interest in redeeming. If you don’t travel much, points for air travel won’t do much for you. So you might want to stay away from an airline miles reward card. On the other hand, if you’re a daily driver rewards points for fuel is something you won’t have much trouble using.
No matter if it’s gas, travel, or merchandise, make sure you’re accumulating points for the things you actually want or need.
Nothing beats cash back.
From a money management perspective what can really beat cold hard cash? A cash back card will give you cash that you can spend on the things you want. Most people realize this and elect cash back rewards cards over airline rewards, hotel rewards, or other incentives. Cash back is king when it comes to credit card rewards.
Realize that your rewards points expire.
You have to check the fine print when it comes to picking the right rewards card. In many cases, your rewards points have an expiration date. Be sure to use them before that expiration date.
Conclusion
These are just a few tips to maximize your credit card reward points. When it comes to picking a credit card rewards program, choose wisely, and don’t hesitate to drop less rewarding cards!
