a7san 5 Credit Card Reward Tips to Remember

Many credit cards in the market today offer at least one type of rewards program to attract new cardholders. By offering the chance to get rewarded, customers are encouraged to use their credit cards more often and for bigger expenses.

If you plan to use a reward credit card, make sure that the opportunity to earn incentives does not lead you to the trap of bad debt. What can you do to make the most from your credit card rewards? Consider the following advice:

Don’t try to chase rewards. Charging purchases to your reward credit card for the sole purpose of earning points is a risky habit. Do not spend with your credit card in order to earn points. Instead, use your credit card to pay important bills and get rewarded in return.

Understand the limits. Most reward credit cards impose caps on the value of rewards you can earn per period (monthly, quarterly, or annually). Once you have reached the cap, you will not be earning points regardless of how much more you spend with your reward credit card.

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Don’t forget to “opt-in” when you need to. Sometimes just owning the reward credit card is not a guarantee that you will get rewards. Some reward credit cards require registration to the rewards program. If you do not “opt in” or register, you may not qualify for the maximum rebates or points you can earn from your purchases.

Be smart at redemption. Some credit cards give the option to choose from a variety of rewards which means you can exchange your points for cash, gift cards or merchandise. When it’s time to redeem your rewards, take the extra time to consider your options so you can get the best value.

Don’t let your points go to waste. Some credit card with rewards gives you the chance to carry over unused points for the next period so that none of the points expire. However, there are reward credit cards that impose a time limit on the period of redemption. For instance, if you do not redeem your points by the end of 12 months, all your hard-earned points can be forfeited. As a reward cardholder, you need to be aware about expiration dates and be sure to redeem your points on time.