Maximising Your Credit Card Rewards Points

March 30, 2021

Via Jamaica Observer

Published: Monday, March 29, 2021

When used wisely, credit cards are great tools that offer cardholders the unique benefit of earning while spending through rewards programmes that can expand spending potential and give persons access to additional services.

Historically, credit card rewards have been believed to only be useful for special occasions, but that has changed over time with the introduction of various features that help you maximise your rewards points for everyday usage. From cashback to pay with rewards, your loyalty card benefits give you access to local and international merchants to purchase items or pay for services of your choosing. The card perks can also afford you opportunities to enjoy luxurious amenities based on your terms.

Antonette Rose, manager – loyalty and retention in Sagicor Bank's Cards and Payments Unit, said with rewards programmes improving daily, credit cardholders can make every day a special occasion by capitalising on improved systems and features.

She noted that knowing how to maximise these rewards can be a prudent financial booster that assists you in getting value for your money, and shared the following tips for credit card users.

Understand the terms of your card

Being aware of your card agreement can help you to better monitor your usage and keep track of your rewards. In addition to rewards, some cards also offer perks like access to airport lounges, which can help you minimise your spending on certain amenities you would usually pay for.

Use your card for almost everything

As the digital shift continues globally, more and more will the use of cash decrease. What better way to earn while you spend than using your credit card when making purchases? The more you put on your credit card, the easier it will be for you to earn rewards points!

Cash in on limited time offers

Your card issuer occasionally runs seasonal promotions that can increase your rewards earning potential within a given period. Ensure to keep abreast of your financial institution's promotions and initiatives so you can optimise your rewards earning capacity.

Pay your bill in full and on time

This is a key factor in determining your credit score and will assist you in getting the most value for your rewards. Avoid missing out on rewards and accruing debt by paying off your balance each month.

Redeem your rewards

From cashback to travel and hotel accommodations, there are many rewards and perks associated with credit cards; these can help you to save when covering associated expenses. Don't let your rewards go to waste; always remember to redeem them before the points expire.