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Tips to Make the Most of Your Credit Card Reward Points

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A large number of cardholders use plastic money to accumulate reward points. There are different types of points and you must understand these to maximize your benefits.

When you want to choose the best card for reward points, you need to know what you will spend these on. Here are five beneficial tips to maximize your reward points benefits.

  1. Compare different cards

When you look for credit cards, you must compare the value of your spending. Additionally, you must check other factors such as annual fees, finance charges, and other costs.

  1. Regularly redeem reward points

It is important that you redeem the points periodically, especially hotel and frequent flyer points. It is possible that the reward points lose value as the number of required points may increase. It is recommended you opt for lower value gift cards or a domestic flight ticket to redeem points in case buying higher value cards or international tickets require a higher number of reward points. More importantly, check the expiration dates of the points to ensure you use these before the date.

  1. Brand loyalty

You will be able to accumulate more points quicker by developing brand loyalty to a few vendors. Trying to earn points with multiple programs will not allow you to accumulate sufficient rewards that enable you to avail of a free hotel stay or flight ticket. However, if you focus on one airline or hotel chain, the possibility of accumulating more points faster is higher. In most cases, a specific credit card for a particular vendor, airline, or hotel offer higher reward points for your spending.

  1. Combine personal and business card points

If you use multiple cards issued by the same company, you may combine the points on these. This allows you to accumulate more reward points and increase your options for redemption.

  1. Look for advantageous benefits

Certain loyalty programs allow you to earn more points on your spending for the same amount. Some types of cards enable you to double the reward points for spending on certain categories during selected times such as the festive seasons. For example, you may earn more points if you spend on consumer durables during festivals like Diwali or Christmas.

It is crucial that you keep track of your expenses to avoid falling into a debt trap. You must be aware of not overspending or buying items that are unnecessary. You may set alerts to ensure that you are able to curb your spending.

It is recommended that you spend some time in doing your research and compare different cards. This will enable you to maximize the benefits of your reward points without putting in too much hard work and efforts.


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