10 Best Ways to Get More Rewards From Your Credit Cards
Credit cards are more than just a convenient way to pay for things. Used strategically, you can gain valuable rewards and perks that you won’t get with cash. Get the most out of your credit card rewards with these top 10 tips.
10. Choose the best credit cards for rewards for your lifestyle.
The best credit card for rewards won’t be the same for everyone. It depends on how much you spend on different categories. If you shop frequently at the same stores, check this table to see which credit cards will save you the most at those stores. If you shop primarily on Amazon, some credit cards are more useful than others. If you travel frequently, you may be interested in credit cards that entitle you to free hotel stays or airline tickets . We’ve rounded up some of the best reward credit cards here and compared the five reward credit cards in our Hive Five . You can also check out this chart comparing 25 popular bonus credit cards . So many to choose from!
9. Use a trading portal with cashback.
Every time you shop online, you can earn extra points, miles or cashback. Your credit card bank has its own shopping portal from which you can start your shopping, such as Chase’s Ultimate Rewards, but there are also refund sites such as Ebates and FatWallet. The rewards will differ depending on where you shop. To that end, find the right shopping portal for each store using sites like Cashback Monitor or the previously mentioned Evrewards .
8. Buy and sell gift cards to get more cashback.
If your card offers double (or more) points for purchases at a store that sells gift cards, such as grocery or office supply stores, buying gift cards there may earn you bonus rewards . However, keep in mind that this depends on your credit card company and the store you shop at: some stores will mark that you bought a gift card there, and some banks do not allow bonuses to be used on them. Also, if you exchange your credit card rewards for gift cards, you can expand and sell them to boost your income , depending on your credit card money back rates.
7. Activate reward categories
It is not difficult, but we often forget to activate the rotation of the rewards offered by our credit cards. You usually receive a reminder email from the credit card company, but you can also set a calendar reminder to activate the bonus categories. They usually happen on a quarterly basis.
6. Waiver of annual fees
Some bonus credit cards, especially tourist bonus cards , charge an annual fee. Sometimes the benefit is worth it, but if you forgo the annual fee, you are simply adding to the value of the card. All you have to do is ask . They may say no, but it’s worth a try.
5. Time to register your credit card for the biggest bonuses
Sometimes credit card companies increase signup bonuses, which can cost free flights or hundreds of dollars. This is the best time to get a bonus credit card and not when they are offering the usual signup bonus. NerdWallet has found the best time of the year to get these extra bonuses .
4. Take advantage of the hidden benefits of your credit card.
In addition to popular benefits such as money back and purchase protection , most credit cards offer other rewards such as travel insurance and roadside assistance. Check your policy so you don’t waste money on benefits already covered by your credit card.
3. Connect your credit cards to loyalty programs.
There are several loyalty programs that reward you for dining or shopping at specific locations. Join the program and connect your credit card, and every time you eat or shop, you will be rewarded in the form of cashback or miles. Or, in the case of Upromise Dining , college money. iDine , AAdvantage Dining and thanks again are other programs worth considering.
2. Change credit cards and use them everywhere.
You will get even more rewards if you have multiple cash back credit cards as each pays more for different categories. I have a special card for grocery shopping like a 5% money back card, a card for shopping on Amazon, a regular 2% money back card, and so on. If you find it difficult to remember which credit card is for what, keep a cheat sheet in your wallet . Plus, if you’re responsible and pay for all of your purchases each month, use your credit cards for everything, even if possible for bills .
1. Exchange your points and miles
Finally, don’t let your miles or points just stay on your credit card account. Some awards are expiring . Even if you don’t, the biggest mistake people make with credit card rewards is not using them. (Although you can save them for a big trip or for emergency flights, too.) If you don’t need the rewards, you can gift them or give them to a family member or friend (or me).
All of this goes to show that remember to always make your credit card payments on time. Otherwise, you may not only lose your rewards, but also end up in a trap of debt that is not worth the credit card rewards.
Illustration by Fruzhina Kuhari.
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