You Want Your Rewards Faster! Here’s How
Apart from its convenience of making credit purchases, credit cards are also popular for their cash backs and rewards. Every bank or organization offers some benefits or points which can either be converted to gifts or real money.
It’s great getting credit card rewards as you keep swiping your cards and end up with a better lifestyle. Free air travel, stays in the best of hotels, complimentary meals at 5-star restaurants, lavish gifts and what not. That’s why it always pays to keep earning more and more rewards faster.
However, it’s worth knowing that you need to pay off your monthly dues, or else your interest charges eat into your ultimate gains!
We will give you an insight into how you can earn those rewarding points faster and reap the maximum advantage out of your card.
Have Multiple Cards
Severe competition among banks has led to a situation where each credit card issuer is doling out hefty sign-up bonuses by way of significant cash back, miles or points. For instance, with even 100,000 miles being offered for signing up, you get 2 coach tickets to any European city, worth a few thousand dollars.
So go for multiple cards and watch the rewards fly in!
Transfer cash to friends and family members
Use payment services like PayPal, Amazon Payments or Venmo to pay for friends, associates and family members. It will make your rewards soar because when large amounts are paid out, the point count also shoots. Make sure your card issuer supports rewards points for cash transfers, some do, some do not.
You get your reimbursement while the point meter too, keeps ticking.
Segregate your daily spending
Each card gives extra points for either gas, dining, travel or groceries. So use your card wisely to get the maximum number of points, depending on which is giving you the best bargain.
While buying airline tickets, for example, use that card which gets you a single point for every purchase as also one point for each mile that you fly. Common sense!
Make use of shopping portals
Instead of going directly to any vendor’s website, first always check whether it’s listed with the airline, hotel or bank’s shopping portal that is associated with the credit card you have. If yes, then your chances of earning rewards for your spends, additional points, cash back or miles goes up.
However, remember that prices of some portals are much more than the actual retail value of your chosen items and this makes those extra points expensive.
Lend to someone abroad
Certain international micro-lenders allow you to loan money through your credit card to foreign nationals. The borrower, of course, repays you over time and you get your points.
It is safe and reliable.
Register with iDine
iDine is a program that allows registration of a maximum of 5 credit cards and helps you earn cash or miles for eating at certain participating restaurants. You acquire at most fifteen percent cash back or fifteen miles for every $1 spent.
It again depends on your frequency of eating out and your willingness to participate in surveys that iDine conducts on your experience.
Get manual reimbursements
If you have a spending account that’s flexible and pay your medical bill from that, it is time to stop! Pay for it with your credit card that has reward points to it instead and subsequently claim reimbursement manually.
It’s a little time consuming, but your points increase quickly.
Use gift cards
Paying off nannies, house cleaners, babysitters and yard men with gift cards issued by some credit card companies instead of cash or even through Venmo, Paypal or Amazon Payments helps rake up the points faster.
Moreover, if you are getting your house repaired, buy all the raw materials like cement, bricks and paint using your card to garner more points.
It is also wise to choose a card from which you can reap maximum benefits. Banks and other organizations issue the cards based on a broad category of consumers to attract more profit. You need to figure where you fit in, apply for those cards and then follow the techniques mentioned above.