Okay, so you've applied for a rewards credit card. Now
what? How can you maximize your returns for your reward
credit card?
If you've chosen the right reward credit card, then you
should have no problem in earning points more quickly.
Consider what type of reward credit card you have and see
if it matches your spending habits. If not, then it's not
yet too late to make a switch. If you're still planning
about getting a reward credit card, then take your time in
choosing the one that is most appropriate for your needs
and lifestyle.
Choose your rewards credit card well
How do you normally use your credit card? Do you usually
use it to pay for your monthly expenses such as groceries
and utility bills? Does a large amount of your budget go to
your car maintenance and gas expenses? Or do you travel a
lot and spend more on hotel accommodations, car rentals and
plane tickets? Based on your lifestyle, you can choose
whether a cash-back credit card, a gas rewards credit card,
or a travel rewards credit card will be best for you.
Check your credit report
Reward credit cards with the best deals are only offered
for those who have excellent credit rating. Check your
credit report and see if there are some steps you can do to
improve your credit.
Take Advantage of the 0% Introductory Offer
Whichever rewards credit card you choose, there is usually
a 0% introductory offer that you can avail off. The best
ones are those that give a 0% APR on both purchases and
balance transfers for a whole period of 12 months. Most
reward credit cards come with a high interest rate so if
you choose the one with 0% APR on purchases and balance
transfer for a whole year, that would be a great savings
and convenience on your part. There are credit cards that
give a reasonable interest rate even after the introductory
period expires and that's the reward credit card you want
to have.
Ask for additional cards
Some reward credit cards give additional cards for other
members of the family or even friends of the card holder.
The points earned from additional cards still go to the
main card holder so you get to earn more rewards at a
shorter time.
Pay off your monthly balances on time
Even if you intend to earn as much points as you can, don't
use your credit card for purchases if you know that you
can't make your monthly payment on time. Unless you're
still within the 0% introductory period, then you can
afford to incur a remaining balance and pay it off for the
next month. Remember that reward credit cards have higher
rates and if you often incur a monthly balance, the amount
you pay for your interest may be worth way more than the
value of the rewards you actually get.
Use your credit cards to pay your utilities
If your credit card gives you a point for general
purchases, then take advantage of it and use your card to
pay your telephone bills, electricity and cable. Since you
really have to pay for these bills one way or another, why
not use your card and collect points at the same time
instead of paying in cash?
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Ann Wilson is the head writer of Credit Card Rewards -
Credit Card Reward Programs - Rewards Credit Card Site.
This resource provides consumers with valuable reviews and
information on the best gas, cash back, travel, or airline
credit cards programs. Visit
http://www.rewardcreditcardsite.com for more information.
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