Tips to Get a Maximum Reward From Your Credit Card

By: Ann Wilson

Copyright (c) 2008 Ann Wilson

The potential of getting the maximum points and rewards from your credit card reward programs is huge if you know how to use it correctly. Most credit card rewards today provide a variety of choices and flexibility for its card members to enjoy.

With the convenience of online account management, you can easily access your account and make your payments through the internet. You can pay your telephone bills, cable, electricity and other monthly utilities as well as your monthly mortgage or your retirement fund through your reward credit card. This lets you earn more points and at a faster rate as well.

Reward credit cards also give you unlimited options on how you want to be rewarded. You can exchange your points for a free travel ticket, concert ticket, a hotel accommodation, free restaurant meals, appliances, and other purchases. You can even choose to contribute your rewards to your favorite charitable organization. Truly, reward credit cards have come a long way since Discover started it back in 1980.

How can you maximize your benefits from your reward credit card? Consider the following suggestions:

Avoid carrying a balance. The rewards you earn from your purchases may just as well go to waste if you have to pay for a very high interest on your credit card bills. Why? Because reward credit cards have higher interest rate than non-reward cards. Therefore, if you want to make your reward credit card work for you, avoid carrying a balance. Don't spend more than what you can afford to pay for the month. Also, remember to submit your monthly payment on or before but NEVER later than the due date.

Know your card's affiliates. Reward credit cards have partnerships with hotels, airlines, stores, gas stations and other establishments. Whatever type of rewards credit card you have, you need to be aware of which companies does your credit card have affiliates with. Some credit cards only award points if purchases are spent from an affiliate merchant.

Even if your credit card gives points regardless of where you shop, it is more likely that you'll get higher points or higher rebates if you use the card from an affiliate. Thus, it is also a good idea to choose a reward credit card that has partnership with your favorite establishments.

Know your boundaries. Usually reward credit cards impose restrictions with regards to earning points. For example, some credit cards impose a maximum amount of reward that a card holder can claim. After that, you will not be allowed to earn more regardless of how much you spend on the card.

It would work to your advantage if you know your limits so you can do the necessary steps needed before your rewards go to waste. If you think a particular credit card imposes unreasonable limits, then don't waste your time signing up for that card. There are many credit card companies that give better deals and do not impose a limit on the rewards you can earn.

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