Are you a rewards junkie? Want to strategically use credit cards like pawns in chess? Establishing credit and earning points/rewards are great ways to use credit cards. But you have to make sure that you will be using your credit card responsibly. Putting your monthly bills on your card can easily bring in thousands in points, but it’s easy to over do it. Make sure that your rewards are lined up
- Make sure that your rewards are lined up with your hobbies, travels, etc.
- Look for cards that have bonus point promotions
- Review the redemptions levels. I was using American Express for years until I realized they only redeem 50 points/$1. Capital one is double that
- Cash rewards are nice.. but often they have annual limits.
- Make sure the annual fees aren’t more expensive than for what you redeem your points. If you travel once every 2 years domestically, the $95 annual fee may not be worth it.
- It’s also important to check credit card rates, and compare that to potential rewards.
Maximize Your Monthly Rewards
- Charge all of your monthly expenses – visits to the grocery store, gas station, restaurants, etc.
- Find out if your card offers extra rewards at certain retailers or store types, restaurants or on certain purchases
- Sign up for your credit card’s rewards program newsletter for reward bonus offers and exclusive deals or discounts
- Determine if utility bills, insurance payments, rent or even your mortgage payment can be made with a credit card
- Offer to use your card to purchase big ticket items for family or friends to earn the rewards
Rewards for Business Credit Cards Testimonials:
I consider myself a credit card rewards expert. I review all credit card options and weigh annual fees, reward points, and redemption value. I also own my own business, Cat Furniture, and look for ways to save money where ever I can. For business: Capital One- Preferred No Hassle Miles You get tripe rewards on one category ex Travel, Shipping, Advertising, etc…I do about $100,000 with Fedex annually, all paid with my credit card. So that’s 300,000 points. Which can be redeem for travel at a rate of 100 points/$1 - So 300,000 points gives me $3,000 in free airfare/hotel. Also if you have a checking account you can link and transfer the points. – Jason
Rewards for Personal Credit Cards Testimonials:
Lots of cards have 1 point to $1 ratio. I select cards that offer multiples or promotions and that I can redeem for things I actually want.I have two personal cards. United Select and Gap since I travel and I shop at the Gap family of stores. With United Select a get triple miles for United purchases and double for groceries, dining and other airline purchases. With those purchases and the miles earned from flights, I got a free trip to Australia last year and have already earned enough for a second trip. The $95 annual fee is worth the free trip outside the country. With Gap, around the holidays they offer triple points for things like dining and groceries. So depending on which card is having the promotion is the card I use to pay for things. I have earned $200 in free clothes and have been upgraded to their top card. – Josh
My wife and I have currently have had the Starwood American Express Card since 2006. We applied for that card because it consistently has won a top award from the Freddie Awards each year and offers us the flexibility to redeem our points for airline flights, hotel stays and gift cards. We’ve redeemeed points for airline flights on Delta and Frontier Airlines along with stays at the Westin and Sheraton Hotels. Customer service from both and American Express and Starwood have been excellent. – Jason