Maximizing Your Credit Card Rewards

A full one-third of credit card users with a major credit card don’t take advantage of its rewards program because they don’t know about it. This article discusses some simple ways to earn points. It also talks about the most common types of cashback offers that new card holder may want to investigate.

How to Maximize your Credit Card Rewards

According to an article published at, one-third of consumers who hold a credit card offering cash back or rewards points don’t use everything available to them. Whether they don’t know how to maximize credit card rewards or just forget that they have them, it’s like leaving money on the table. By doing a little homework, you can make sure that you’re part of the two-thirds of credit card holders who understand and use your credit card rewards.

Different Types of Cashback Offers

Before applying for a new credit card, it’s important to read the fine print to make sure you’re getting the best cash rewards credit card. Some credit card issuers strictly provide cashback offers, while others give you discounts on only certain products and services it’s also important to know if you have a time Omit for using the rewards you have accumulated. You wouldn’t want to build up a large balance and then discover that your points expire at the end of the year. Additionally, some cash back credit cards only allow you to request a credit at certain times of the month or year. We all know the basics of credit scores. It’s not rocket science As long as you pay your bills on time and don’t declare bankruptcy, you’re golden, right? Wrong. Several factors can hit your credit score harder than a bad beat at the poke-table. Gambling with your credit score can leave you up the river without a paddle.

When you’re ready to make a major purchase such as a car or a house, for example, you’ll have to lay all your financial cards on the table. If your credit Is poor, the next thing you will see is a sad-eyed dealer shaking his head as your chance at a new house or car evaporates.

Standing pat it sounds counter-intuitive, but it’s true having a handful of credit cards and failing to use them can damage your credit score, part of which Is based on your credit utilization rate. If you appear leveraged to the hilt, your credit score is going to reflect that, and not in a good way. To find your credit utilization ratio, divide your total credit card balances by your total credit limit. You should sways shoot for a rate below 30%. Keeping It under 20% is even better.

For this reason, you should think twice (or three times) before you fill out a credit application at the cash register when they offer you a coupon or other enticement for doing so. “It’ll just take a sec, and look at how much you’ll save!” they tempt. Don’t do it.

Saving ten bucks on those stylish new boots is not worth it. Here’s why, and this is especially true for stores you seldom visit. When the store approves you for that card, It arrives in the mall; chances are, you’ll shove It in the back of your wallet, where it Just sits unused. Eventually, the store will declare it “Inactive.” When that happens — BAM — your available line of credit goes down. Remember there are only two numbers In that all-important credit utilization rate (the one you want to be lower than 30%).