Free Points for Credit Cards
With all the various miles, points or rewards available on the market for credit cards, it can be tricky to manage or to get the most out of your rewards program. With the credit card companies offering the exact same programs, finding the card that suits your spending habits, the points you want, the cash back you deserve, or the discounts that benefit your lifestyle can be hard to find. Most of the credit card customers are not getting the most out of the programs that they sign up for. Below are some tips and tools to help you learn how to maximize your credit card rewards, get the bonuses that aren’t advertised and ways to better manage your points!
Credit Cards That Fit Your Lifestyle! Don’t be a sucker for the large bonus points or free miles when you sign up. That can be a great deal but just make sure it’s the right deal for your spending habits. If you spend more of your daily transactions on gas and groceries, don’t sign up for a card that only allows you to earn points on restaurants and travel. Find a credit card that is tailored toward your spending habits and see if the card has any partnerships with local vendors. This will help you earn the most points and incentives for your daily transactions and not wasting any opportunities with a card that doesn’t allow you to earn rewards on your spending habits.
Credit Card Promo Rates. Don’t be lured by fancy commercials with celebrities promising you large percent on discounts, 0% balance transfers or 5% cash back. Read the fine print and make sure that there are no restrictions or underlying minimum spending. Go with the guaranteed long term rates and cash backs incentives. Take the 1.5% cash back versus the 5% cash back with only a 0.5% cash back after the 6 month promotional period.
Combine Your Miles and Points. Credit cards want you to get that trip to Europe or that weekend getaway but that requires a lot of miles. More and more rewards programs are now allowing you to combine points, transfer rewards or even give the miles as a gift. Making some reward programs more desirable by allowing customers to share in gifts, travel, and discounts that they desire. Such reward cards offering these incentives include Bank of America, Royal Bank of Canada, and Chase.
Take Multiple Routes. Airlines offer more and more miles than ever before. A lot of frequent flyers forget that airlines factor rewards with how many miles you fly and also for different routes it takes to get where you’re going can earn double the miles. These flights are usually cheaper and can help with earning you more miles quicker.
Daily Purchases with Credit Cards. If you pay everything with your bankcard or debit card and don’t like have cash on hand, then take advantage of your credit card. Bank of America provides me with bill pay and it’s free of charge. Allowing me to automatically transfer money from my checking account to pay off any daily transactions so I don’t accrue any interest and still earn the points!
Beware of Expiration and Blackout Dates. While 60% percent of rewards programs don’t have any blackout dates or expiration dates, keep track of your status and if you are signed up for that program that does have limits or expiration’s linked to your program. Some programs have rules and restrictions that state you will lose points after a period of inactivity or low spending on the card itself.
Avoid Electronics and Gadgets. When it comes to cashing in those rewards for an LED TV or DVD player, you should think twice before cashing in those points. If you were to add up all the money for the points earned, you most likely pay three times or more than the actual cost of purchasing it at a retail location.
Pay Your Bills. If you can’t afford it then don’t buy it! Your credit card is a tool to help with your purchases and can help you in the processes. If you allow the monthly interest charges to bail up, then your rewards can become a reminder of how much money you wasted.
Link Your Programs More reward programs allow customers to sign up there existing account to a particular program that might not have been available when received your card. Beware that this might mean you forfeit some free upgrades or kick backs, but these programs will allow you to earn double or triple the points for doing so.
Benefits Without Spending! Some credit cards will offer you savings and benefits for free! What if your credit card paid you to drive and all you have to do is send them a copy of your last oil change receipt showing the miles on your vehicle and they send you check! The card that offers this great benefit is the Citi Drivers Edge Card.