How To Make Reward Points Work For You
There is a lot to love about credit cards, having this plastic card brings a lot of ease and bounties to our lives. One of the bounties credit card offers you is reward points. These reward points are given based on each rupee you spend, for example, HBL green visa card offers one point per PKR 25; Faysal bank platinum card offers one point per PKR 50. Then these Points can be redeemed for annual fee waiver; merchandise in the various home and lifestyle categories; gift cards; etc.
But many cardholders fail to understand that how to spend their points is as important as how they earn them. When you are attempting to spend your hard-earned points, you should do the following six tips if you want to make the best out of your plastic points:
Compare The Value On Different Cards:
The first tip to make your credit card points work efficiently for you is to do a quick comparison in the market for cards which earn the most value per rupee spent, before buying a card. In addition, remember to look at the rates, such as annual fees and interest rates that may make buying that card not worthy for you. You can check out best credit cards to view the variety of reward offers from our partners and compare them by clicking here: https://www.karlocompare.com.pk/credit-cards/reward-points
Redeem Your Points On Regular Basis:
Don’t forget to check frequently that how many reward points you have accrued on your credit card and make it a priority to use them on regular basis because every year, most programs raise their number of points required for awards, so your points will clearly become less valuable over time.
Pay Off Your Balance:
Just be careful not to overspend just to gather more points and then not be able to pay back immediately. By ending in debt each month, your points will become less valuable so avoid interest by paying your balances in full.
Focus Your Spending On One Card:
When it comes to earning reward points, one gets easily activated on spending. But remember, usage of many credit cards will lead you to fewer rewards, which will be accumulated on each card. Focus your spending on that one card that proposes most reward points in categories where you spend mostly, instead of making purchases from multiple cards and making it difficult to gather enough points on one card to truly help you.
Don’t Allow Points To Expire:
Don’t save your points for too long, be sure to check for expiry dates on points. There is nothing as devastating as planning to redeem a bunch of points only to learn that they have expired.
In case, your points are near to their expiry date, consider donating your points rather than spending them on something you don’t need. Donating to a charity by using your rewards points to donate is an extra way to help without spending from your own pocket.
Be Loyal To A Few Brands:
Mark a point to concentrate on accruing points on limited brands; by doing this you will earn credit card points much faster and will even help you gain higher levels of loyalty, eventually which will result in better perks, such as upgrades and other bonuses.
Credit card reward points are simple to earn, but complicated to spend. I hope now with the help of this blog you are aware of how to make more out of your points and avoid the pitfalls. Reward yourself by using your credit card points wisely.