Rewards points, cashback, coupons, frequent flyer miles… any of these sounds familiar to you? If yes, then you’re doing good. So many people don’t even know they can use the points from their credit cards and rewards cards to pay for purchases and get massive discounts in certain shops and restaurants. This works exactly like the coupons you get from magazines and food packaging. It’s actually much better since you can use the points online and in many other different retail stores.
Find a Credit Card and Rewards Program That Match Your Lifestyle
No two programs are alike when it comes to rewards programs, whether they’re from credit card companies or individual retail stores. They don’t follow one formula. They have different mechanics. Some rewards programs allow the use of the points on already discounted products. Some will only allow its use on regular-priced items. You need to find the credit card promo and discount programs that work best for your lifestyle.
For example, if you have your own vehicle, then a cashback reward that gives you a discount on fuel will benefit you. Monitor your daily activities and find incentives for them. If you do online shopping in one particular store, then sign up for its rewards program.
Use Online Shopping Portals
Online shopping portals allow you to earn bonus points, frequent flyer miles, discounts, cashback, and more. The idea is that you need to check the portal for the promos. You will then click on the merchant’s link from the portal. You are still buying the items directly from the merchant, but since you started from the shopping portal, you will earn partner points. Most of these offer discounts directly on the purchase you are making, though it doesn’t deduct from taxes and shipping fees.
In addition to the discount, you will also earn rewards points that you can use for future purchases. For example, a $100 item from a department store will get a 15% discount from the store plus earn you a 1.5% cashback on the online shopping portal and the credit card you used. If you start buying directly from the store, you will lose the 1.5% cashback.
Get a Rewards Card for Food and Other Groceries
The one thing everyone does is buy food, whether it’s from restaurants or grocery stores. You should always have a rewards card for certain restaurants and food stores in your area. How much do you spend on food in a month? If you are under a rewards program, you might get 1% back of that total. This means that if you spend $1,500 on groceries, that’s still $15 a month. It could be more depending on how smart you are in collecting coupons and maximizing rewards points.
Plan Purchases Around the Rewards Program
You will get more rewards points if you make big purchases than several small ones. Look for any special program wherein you will get double the points if you spend $100 or more. That’s why you need to plan your purchases so you don’t waste the extra points you could be getting. You can also ask a friend or family member if they want to purchase something from the same store. They can repay you for the transaction, or you can pass on the discount to them. Either way, it’s a win-win situation for you.
Check the Expiry Dates of the Rewards Points
Most rewards points don’t expire until two to three years. Some do have expiration dates, so always be on the lookout for those. Check the validity of the points and use them up way before they expire, so you don’t make the wrong choice of converting them. When you have time to review the rewards catalog, you will make the best decision and maximize the use of your points.
Refer Friends to the Rewards Program
Do you know that one of the best ways to earn more points is to refer friends? Your friends will be happy to get referred to an excellent rewards program while you’re going to get an extra hundred points for the invitation. It’s a win-win situation that many people don’t take advantage of.
These rewards programs are great only if you know how to maximize them. You also need to have a tracking system for them. If you are having a hard time monitoring your rewards points, it’s best to stick with a single program, download the app, and check back for details. Although rewards points are beneficial to the customers, they also have limitations. So always be on the lookout for what and what you cannot do with them.