Use Your Reward Credit Card Wisely

Category: Finance, Credit.

Do you own a reward credit card or are you planning on applying for one? In this article, let s discuss some tips on how you can get more from your credit card rewards program and how to make sure that you ll be redeeming those well- deserved rewards: Use your discount privileges.

Many people own one or more reward credit cards on their account but not all of them are reaping the rewards they deserve. Most reward credit cards include discount privileges that are exclusive only to their card holders. If not, then take the time to review the terms of your card or check online and make sure that you are maximizing the full potential of your credit card. Are you aware of the discount privileges your credit card provides? For instance, some credit cards provide printable coupon codes online that you can use in purchasing from selected merchants. Pay your balance in full each month.

Usually, all you need to do is register online in order to access these printable discount coupons and get big savings. Reward credit cards usually come with higher interest rates than regular credit cards so you ll want to make sure that you re not carrying a balance over to the next billing cycle. If you need to pay for the interest rate each time, you may actually be paying more than what you earn from your reward credit card. Why would you pay for additional cost on the interest rates when you can avoid it by paying on time? Stay true to your card s terms and conditions. Yes, most reward credit cards impose this rule on their card holders.

Did you know that not paying your bills on time, delaying on your payments or exceeding your credit limit can disqualify you from redeeming your rewards? If you re not sure, take out your copy of your credit card s terms and conditions and review the stipulations on this matter. Use your reward credit card wisely. To be sure that you ll be eligible to claim your hard- earned points, always stay true to your credit card s conditions. To collect points and earn your rewards quickly, obviously you need to use your credit card. Remember, it is crucial for you to pay off your monthly balance regularly to avoid the interest and penalty fees. Nevertheless, this doesn t mean you need to go out of your way to make unnecessary purchases which can result to credit card debt.

Exercise caution when using your reward credit card and don t charge purchases on it just to collect your rewards. One way to rack up those points without making unnecessary purchases is to use your reward credit card in paying your monthly utilities. Pay your utilities using your reward credit card. These include your electricity, telephone, cable, gasoline, and other services you re subscribed to. If your family members need to make purchases, tell them to charge on your card and pay you the cash instead. You can also work as a family in collecting points on your reward credit card.

This way, you can accumulate more points on your account without breaking your budget.