Credit cards are convenient and easy to carry than cash, and that’s all many people take them for. However, there is much more to them. By gaining some knowledge about your credit cards, you can make your shopping experience so much more rewarding. Most experts advise against using credit cards because many people end up abusing them and having a bad credit on their hand, but if used right, they are actually better than the alternative loan options.
Here is how you can find a more rewarding credit card experience:
Personalize Your Credit Card
Everyone has different shopping habits, and there is a credit card out there that will cater to yours. All you need to do is know your own shopping patterns and the rewards these different cards are offering to choose the one that will bring you maximum rewards. You can get your rewards back in two forms: as cashback or travel. Cashback rewards pay back a certain amount of your money spent back to you. It is often equal to one percent, and most cashback cards do not even have an annual fee.
If you are someone who travels a lot you, should look for a travel credit card. They reward you in miles or points that you can redeem for your trip expenses. These may include a flight or your stay in the hotel. You can even look forward to signup bonuses that you can exchange for various travel-related expenses.
You can use various budget tracking tools to find out which category you fall in. These tools help you analyze your shopping habits and show you where you spend the most.
Don’t Forget to Activate Your Rewards
Your bank usually reminds you, but it is important to not forget about activating the rotating reward offered by your credit cards. You usually need to do it on a quarterly basis so setting a reminder for it is not a bad idea.
Consider Your Lifestyle
Look at where your money is going. Do you find yourself often in the retail store or are you all about what’s new at your favorite clothing store? Is online shopping an integral part of your life or are you happy with the brick and mortar stores? Whatever category you fall in, there is a card that will save money as you spend it.
The CashBack Portal
You can shop online from the cash back portals provided by your credit card bank. These portals will help you can earn loads of extra points, miles and even cash back. There are other portals as well that will help you get these rewards. The best portal depends on what you are buying. You can search for these portals based on results provided by various sites that are dedicated to the purpose.
Do Some Research
Most credit cards often offer certain perks that most people do not know. Study your policy closely, and you may be able to find incentives like roadside assistance or travel insurance.
Bottom Line
When you use the right credit cards, they can be the best option for buying whatever you need. By connecting them to loyalty programs, you can find great rewards by shopping at particular places. Some people even get hundreds of dollars as cashback on an annual basis. You may already know this, but you can use purchase protection when shopping online to get your cash back if the price drops after you have paid for your product.