So you want to earn those rewards faster, and more of 'em. Here are some tips:
-- Pay close attention to bonus spending categories, if they exist for your credit card. For example, some credit card reward programs may give you double points whenever you shop at a department store or grocery store during a certain month, or at a gas station or restaurant during another month.
-- Consider paying monthly bills and utilities using your credit card. A surefire way to help grow your rewards points.
-- Sign up at a time when your credit card company is offering bonus points just for getting an account.
-- Consider adding "authorized users" to your credit card account; giving family members a card tied to your account can be a great way to rack up air miles or hotel points... assuming they spend responsibly and you can keep a watchful eye over their purchases. Discuss this with family members; let them know what purchases are acceptable and which are "excessive."
WARNING: Don't buy things on your credit card just for the points -- I have found that it's rarely a good idea to buy something just so you can get another 500 or 1,000 air miles. But if you're going to buy it ANYWAY, or need to buy it (textbooks or clothes, for example), why not put it on the card that gets you the most rewards or cash back? Instead of paying with cash and receiving no benefit whatsoever.
Not professional financial advice; no warranties or guarantees associated with this content.
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