Every time you make a purchase you have an important choice to make. From the morning cup of coffee on the way to work to the glass of wine at happy hour afterwards to lunch in between, every purchase gives you a chance to decide, and there are many reasons why a credit card is the best choice available.
As long as you pay the bill in full every month and keep your spending within sensible limits, you can derive a great deal of benefit from those regular purchases, actually making your limited cash go farther instead of putting it at risk. Credit card rewards in particular can be extremely valuable to your financial well being, and here are some tips for making the most of them.
• Head to the issuer website. If you want to know how your credit card rewards work and how to make the most of them, start by going to the issuer website. That is where you will find the latest offers, the best cash back bonuses and other perks you can access with the click of a mouse.
• Mind your mailings. Before you throw away that junk mail, take a look at it and see what it has to offer. You may find that the mail carrier just dropped off a brand new sign-up bonus offer – or a chance to optimize existing rewards.
• Know which card to use where. Your spending is likely to fall into various categories, and knowing which credit card to use where is key to optimizing your rewards. Filling up the tank with a credit card optimized for gasoline rewards and filling your grocery cart with a different card is a great way to rack up the highest point totals possible.
• Review your redemption options. Accumulating credit card rewards is only part of the picture; the other half is turning those rewards into cash, gift cards and merchandise. If you want to make the most of your credit card rewards, always review your redemption options to maximize the value you receive.
• Sign up for payment reminders. No amount of credit card rewards will make up for the pain of a late payment or missed deadline, so sign up for reminders so you can not end up racking up interest charges or incur any unforeseen penalties.
When used properly and with discretion, a credit card can be an invaluable financial tool, one that will help you rack up rewards, earn gift cards and make the most of the money you have available. If you want to make the most of every dollar you charge, the tips listed above can help you do it.