Most credit cards feature a rewards program. Credit card rewards are a great benefit to have just for making your regular purchases through a card. Follow this guide to collect credit card rewards in the most optimum way.
If your card comes with a rewards program you should take advantage of the credit card rewards. In order to maximize your use of the card reward options you need to be aware of a few basic points first. Keep the following facts in mind and you can collect credit card rewards like a pro, without spending too much in a chase for more reward points.
The standard way of collecting reward points
Every reward card comes attached with certain basic features. Whenever you spend on some item through your credit card you automatically receive reward points, which could be redeemed for a variety of goods or services according to your particular reward program terms and conditions. While reward programs vary in how many points they offer for every dollar spent on the card, you can make the most out of your existing reward card by moving all your regular expenses to your card. Keep in mind though that certain transactions such as cash advances and balance transfers do not count toward credit card rewards. In general it is a good idea to have one reward card to collect credit card rewards, and a separate one for balance transfers and cash withdrawals (if required).
Multiple cards on one account
Many card providers have the option of linking two cards to your single account, one American Express card and another a Visa or MasterCard. Typically the American Express card gives more reward points per dollar spent than the other card. If the merchant accepts American Express card payments, always use that for purchases over the Visa or MasterCard.
Choose a premium card
If you spend a fair bit of money on regular purchases per month (e.g. $2000 and above) then it is worthwhile for you to switch to a Gold or Platinum card. These premium card accounts offer accelerated points for your spending, and also come with a higher annual fee. As long as your reward points are not capped, then the greater rewards points earned on Gold and Platinum cards far outweigh the additional cost. Such premium cards also come a host of VIP benefits too.
Get those bonus points
Find the designated bonus partners mentioned in your reward program. When you purchase from these participating retailers using your credit card you get bonus points for every dollar spent. You don’t need to go out of your way, most often you will find a bonus partner where regularly shop anyway e.g. your local supermarket or electronics retailer.
Credit card rewards are a simple way of treating yourself to some extra benefits. As long as you follow the simple steps above you can collect credit card rewards faster and with greater ease and convenience.
