Reward credit cards have been increasing in popularity over the past decade. Many consumers like the idea of getting a reward for making purchases that they would have made anyway. No matter what form you want your rewards to be in, there are many methods to maximize the value of your purchases.
Earn rewards at the places you shop at regularly
Obviously, you want a rewards credit card that rewards you greatly for buying the things you purchase frequently. For example, you will not want a gas rewards card if you do not own a car. The best choice is a card that gives you points, travel credit or rewards for your everyday purchases. Ideally, you will want to find a card that offers a great all-around value, redemption options you really want and gives you top rewards.
Find out what extra rewards, promotions and discounts are available when you purchase products from affiliated partners. Online shopping portals are provided by many rewards credit cards. These portals can give you additional rewards from popular retailers. You can find out about discounts on Delta flights by searching online.
Think about paying your car insurance, phone bill, cable bill or other recurring payments using your rewards credit card. This is another popular way to earn rewards on your frequent payments and purchases.
If you operate your own business, you may want to consider getting a business rewards credit card. Business purchases earn higher rewards when using one of these cards. A higher rewards cap is a common feature of business rewards credit cards. For example, instead of earning double points on purchases up to $3,000, you would be able to earn double points up to $6,000 on purchases on an annual basis and incremental rewards after you have gone over the cap.
Redeeming your rewards
The art of redeeming your rewards is something that should not be taken for granted. Find out if your particular card has any kind of expiration date in regards to when you can redeem your rewards. If you have a card where your rewards expire, be sure that you will be able to accumulate enough rewards to use them before the expiration date. You may need to use only one card for your purchases in order to accomplish this.
There are some rewards credit cards that will give you additional rewards if you choose to redeem them for gift cards from a retail partner. For example, a $30 reward might get you a $35 gift card from a retail partner.
Get the best value
Getting a rewards credit card that has no annual fee and a low interest rate will help you to improve the value of the card. Look for a card that does not have any rewards redemption fees. It would also be a nice bonus if the card does not charge any fees for making same-day payments by phone or online.