How To Maximize Your Credit Card Rewards?

For some, credit cards can be a trap, creating a never-ending spiral of debt and high-interest rates. For others, credit cards are a source of free airline miles, gift cards, and even extra cash. If you are a savvy consumer and always pay your bill in full, credit card rewards are the icing on the cake, giving you free perks just for spending on the stuff you already buy.

If you are financially responsible with a strong credit score, you can get in on these credit card bonuses and enjoy a steady flow of cashback, gift cards, airline miles, travel perks, and other offers. While you make sure to avoid the common credit card mistakes, read on some tips for making the most of your credit card bonuses too.

Book Some Quick Rewards with Signup Bonuses

Competition is stiff among credit card issuers, so much that banks will pay you to take their cards. If you watch the offers and choose your cards carefully, you could scoop up hundreds of dollars in sign-on bonuses just for using your new card.

Requirements differ, and you will need to read the fine print and make sure you satisfy all of the qualifications. Some bonus offers require a minimum amount of spending in a set period, while others ask that you maintain a bank account at the issuing bank. Be sure to follow up once the requirements have been met to make sure you get the points or cash you have coming.

Sign Up for Extra Points

From time to time, credit card issuers offer exclusive bonuses, like five times the points at restaurants or gas stations or extra cash back or points for shopping online. Be sure to sign up for email alerts, so you know which offers are active and how to take advantage of them.

Keep careful track of when these various special offers expire so you can adjust your card use accordingly. It may take some juggling, but these bonus offers can pay handsomely if you are willing to work at it.

Use the Right Cards in the Right Places

If you truly want to maximize your credit card rewards and take advantage of the best bonus offers, start by using the right card at the right time and place. If you have a card that gives you bonus points when eating out or buying groceries, pack that plastic before heading out to the store or local restaurant. If another card offers extra points for gasoline purchases, make sure you have it the next time you fill-up.

These bonus offers are subject to change, so make sure you keep abreast of the changes to maximize your rewards. And be sure to double-check your monthly statements to make sure you are getting all the base and bonus points you deserve.

Maximize Rewards with Discount Offers

Once you have earned the rewards, it is up to you to maximize them. Different rewards can have different monetary values, so look at your options carefully and choose what is best for you.

For instance, you may be able to turn your credit card points into cash, but a gift card could be an even better value. If you can get a $125 gift card to a favorite merchant instead of a $100 check or statement credit, that could give you the best bang for your credit card buck.

It is easy to get sucked into a spiral of credit card debt and high-interest charges. Still, there is another side to the financial equation. If you are highly disciplined with a solid budget in place, you may be able to beat the credit card companies at their own game, starting with the reward maximizing strategies listed above.

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