Activate Rolling Rewards on Your Credit Card to Get Even More Cashback
When used responsibly, credit cards are great for cashback or travel rewards. In certain months, issuers offer bonuses on expenses and in certain categories. However, as NerdWallet points out, you must activate these “spinning rewards” in order to earn.
If you’re unfamiliar with rotating reward credit cards, the concept is pretty simple. This type of card gives you 1% cashback on most purchases and 5% on one or two bonus categories that change every quarter. However, in order to receive the bonus, you need to register in the category or “activate” it. There is a cap on how much refundable cardholders can earn by bonus category (typically spending $ 1,500, or $ 75 per quarter). Cards usually offer a 1% refund on spending in excess of this limit.
Signing up is easy enough. Log in to your account, go to your rewards and find the option to activate.
For more details, navigate to the full NerdWallet post at the link below.
Top Credit Card Tips From NerdWallet For April 2016 | NerdWallet