How to Redeem Credit Card Rewards Points
Choosing a credit card that has the added benefit of loyalty points is a wise move for the savvy consumer. Furthermore, if you’re going to use a credit card for your purchases, why not take the opportunity to acquire points towards a product or service that you would otherwise have to pay for? In fact, for all intents and purposes, you’re getting something for nothing and we all love a bargain. So, what are the best ways on how to redeem credit card rewards points?
Compare Your Options
Start at the beginning. Chose a reward credit card that offers a loyalty program that aligns with your interests or requirements. In addition, some cards offer cash rewards, others give travel discounts, and others offer the opportunity to purchase items with no cash outlay.
Also, select a card that will give you the best benefits in alignment with your lifestyle.
A word to the wise, if you are spending more to earn points or you can’t payoff the balance each month you might be better of with with just a basic card that won’t cause you to spend more.
Once you understand your spending patterns and how they fit your lifestyle and the math makes sense, then choose a reward credit card that’s best for you.
Have a look at this short video that will help you understand some basic concepts about credit card reward points
Redeem Credit Card Points For Cash
You can’t go past a bundle of free cash. Some cards offer the choice of a straight cash back in return for points redemption. Consequently, the money can often be offset against your existing credit card debt or you may have the choice to divert it to your bank account.
Putting money back in your own pocket is always a good option for the astute consumer.
Points For Travel
The thought of exchanging accumulated points for travel is enticing. Yet, who could say no to a holiday in return for using your credit card?
However, read the fine print on your card. In fact, you may find that in order to redeem credit card points for travel you need to build up a lot of points. So, this may not be a viable option for some.
Free Food and Gas
For other people, it makes sense to use a rewards credit card which offers cash back or discounts on grocery shopping. Hence, this option is an excellent choice for budget-conscious consumers.
Similar loyalty cards may offer fuel discounts or savings. As a result, Filling your gas tank in return for using your credit card adds up to excellent mileage for your dollar.
Many credit card companies give loyalty card users the choice to exchange their points for a donation to their favorite charity. Most of all, this is a feel-good option which ensures your charity benefits from your regular shopping activities.
Many US charities are also tax deductible. So, shop around. Find a card which helps you to help others.
Some consumers choose to redeem credit card points for gift cards, which is another great way on how to redeem credit card rewards points. Gift cards are an excellent choice for the hard-to-buy-for person, and they’ll never know you used your credit card loyalty points to obtain it.
Gift cards may be offered for a range of products and services from homewares to movies to clothing to restaurants. You’re sure to find a gift card to match the tastes of the person you’re gifting to.
Collecting Points Makes Sense
Now that you have learned how to redeem credit card rewards points go a little further to increase your credit know-how. Utilize your credit card rewards to get the things you want without opening your wallet.
Cut down your credit cards if necessary and use one card for all purchases. This will allow your points to accumulate faster and enable you to get the best from your reward points redemption.
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