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Making the Most of Your Rewards Credit Cards

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Authored by Lori Godin in Credit Card
Published on 01-11-2009

Rewards credit cards are a great way to earn from your regular spending habits. Most cards earn one reward for each dollar that is purchased with the card, with special sales and stores offering even two to three times the points on special purchases. These rewards can be redeemed by the card holder for merchandise, gift certificates to your favorite retail stores and even cash back to be applied to the balance of the card.

Experts recommend that customers choose the cash back option for rewards to make the most of their rewards card. This option can apply the cash back rewards automatically, on a monthly basis to the balance of the card. Depending on card use, many customers accumulate money to be put towards the minimum monthly balance. As an alternative, these funds can be distributed to the card holder via check, once per month, once per year or at the request of the card holder. Cash back rewards provides a versatile way to earn money purchases that are made on the credit card.

Take Advantage of introductory offers. These offers can be upwards of ten-thousand points and are instantly redeemable for merchandise or cash back offers. Choosing a credit card that offers this type of introductory bonus can kick start the points collection, making your way to higher levels of rewards points.

Watch for limits. When choosing a rewards card, it is important to avoid programs that have points limits. Limits can impose the amount of points that can be earned on a monthly basis, especially if you intend to use the card to make the most of the rewards points, it is important to look for a card without earning limits on rewards points.

Watch for expiring points. Points that expire cannot be used after a certain period of time. When watching for expiring points, be sure to use caution when record keeping. As an alternative, use a credit card that allows the card holder to use points at their leisure, as the points do not expire.

Points can even be redeemed to save money through the holiday season! Merchandise and gift cards can be “purchased” with the points to save money on those loved you need a special gift for. If you have enough points accumulated, you can easily cut your Christmas list in half!

When using your rewards points, it is important to research which redemption method will yield the best results. After this, redeem and reap the benefits of enrolling in the rewards program.

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