Credit Card Rewards – Tips to Reap Maximum Benefits
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Credit Card Rewards – Tips to Reap Maximum Benefits

Updated: December 26, 2012

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Credit card rewards are like a little reinforcement we get to use the credit cards. It is a reward that the credit card companies shower on us for showing loyalty towards them. All major and minor credit card companies are now offering various rewards to their customers, but you should be smart enough to take advantage of them.

Tip 1: Know the Reward Programs

There are different kinds of rewards programs and you can choose a credit card that assures you best credit card rewards. You have scope to earn more rewards if your choice of card is right. There are cash back offers, rewards on fuel expenditure, rewards for mobile phone usage, rewards for frequent shopping etc. If you are the kind who is constantly traveling, a fuel points reward scheme will give chance to earn more rewards. Similarly, shopaholics can make best use of frequest shopper rewards etc.

Tip 2: Choose Cards With No Fees

If you want to ensure that the credit card rewards you are getting is not more than what you cough up to do so, ensure that there are no annual fees that you have to bear for the card. Sometimes, when the credit card companies charge an annual fee, they assure you a scheme in return. For instance, your credit card may want you to pay an annual fee so you can get 2% cash back offer. The point is that you must not feel forced to spend a huge amount to avail that 2% cash back offer.

Tip 3: Remember to Redeem the Points on Time

You may have planned your expenditure right so you can make the best of credit card rewards, but of what use could it be if you forget to redeem it before the stipulated time? Set reminders so you do not forget the last date before which the redemption of points is a must.

Tip 4: Plan it Right

The credit card rewards also have an upper limit. For instance, you may be eligible for a cash back offer on your fuel expenditure only till you reach a $300 limit. If you are not aware of it beforehand, you may end up spending your money thinking you will get credit cards rewards, but may burn your own pockets instead. Hence, do not spend simply to avail the credit card rewards and also, take time to understand your reward scheme and its limitations.

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