|
Consumers love reward credit card programs,specially those
who pay off their credit card balance every month. Most consumers
justify using their credit card for large purchases to earn
more rewards. But even smaller, day to day purchases add up,
so it is important to have a plan for harnessing your household
expenditure to ensure that you are getting the maximum value
from your rewards credit card.
Listed below are some points for organizing your household
spending habits to get the maximum reward points possible
out of the credit card rewards program:
If you or your spouse has a rewards credit card, request
a companion card from their bank so that you can combine to
earn more rewards.
Pay for groceries with your rewards credit card - most people
pay for groceries either by check, cash or with a bank debit
card. If you analyze your monthly grocery bills you will observe
that you can utilize this day to day expense to increase your
reward points.
Pay your household bills online with a rewards credit card
- Most companies, even conservative public utility companies,
have begun accepting credit cards for immediate bill payment
or planned recurring payments. Some, however, may charge a
"convenience" fee for credit card payments. It may
be best to pay these by checks. There are numerous payments
made by checks such as paying your cable, internet service
provider, dentist, doctor, etc. that can be paid by reward
credit cards to earn additional reward points
Put your monthly rent or mortgage payment on the credit card
- Several of the nation's largest apartment property management
companies along with many mortgage companies have recently
begun accepting credit cards for monthly payments. This can
be a good opportunity to earn large and recurring rewards,
but make sure to pay off that outstanding balance at the end
of the month. Even one month of finance charges on such a
large purchase could wipe out the value of the rewards earned.
The main objective is to shift your day to day expenditure
and other optional spending onto your rewards credit card.
In addition to the extra rewards that you can earn there is
the benefit of getting a monthly statement showing all of
your spending for better record keeping.
|
