In addition to the convenience and spending power a credit card affords, one of the top reasons people apply for credit cards is the number of rewards, points, and exclusive perks a card can provide them with. You may be thinking the same thing: if you already spend on groceries, bills, and other expenses regardless, why not make use of the credit card rewards that can come with them?
Some may think that obtaining those useful rewards is an uphill battle, especially if they’re not racking up points quickly enough to earn anything meaningful. But whether you’re a first-time credit card user or an existing credit card holder who just wants to get more value out of your card, there’s always a way to be more strategic about accumulating your credit card rewards.
Below are some useful tips to help you quickly earn more credit card points and rewards:
1) Take Advantage of Sign-Up Bonuses
Most credit card providers offer sign-up bonuses to appeal to new cardholders. These bonuses could come in the form of physical gifts such as gadgets or appliances, points, or cash credits. Different credit card providers offer different rewards, so it’s always wise to shop around first to see which card comes with the best sign-up bonuses.
Do keep in mind that to qualify for these sign-up bonuses, you’re expected to meet a minimum spending requirement during your first few months upon activating the card. You’ll want to make sure you meet that requirement so that you can enjoy those extra points and get any additional rewards you’re eligible for.
2) Check for Bonus Categories
Some credit cards allow you to earn extra points for particular spending categories or establishments. Make sure to check your card’s fine print to see what those categories or businesses are. That will allow you to maximize your credit card use when spending for them.
For example, some cards offer twice the number of reward points if used in select dining establishments. The next time you dine out with family or friends, suggest going to one of those partner restaurants to take full advantage of the bonus points.
You can also get exclusive discounts or cashbacks from a particular store or provider if your credit card issuer has them on their list of partner merchants. In the Philippines, Maya has partnered with Landers Superstore for the Landers Cashback Everywhere Credit Card, a card that takes the Landers membership experience to the next level thanks to its extensive cashback rewards on Landers purchases and other expenses.
Enjoy special perks everywhere, and not only when you go on your next Landers shopping spree—earn up to 5% cashback on your purchases from any Landers Superstore, a 2% cashback on your dining experiences, and a 1% cashback on any other eligible purchase you make with this 2-in-1 membership card and credit card combo.
3) Use Your Credit Card for Everyday Purchases
Many tend to see credit cards as only viable for big-ticket purchases that they can’t afford to pay for in cash on the spot. However, it’s actually ideal to use your credit card for smaller expenses as well, such as your utility bills, dining out expenses, shopping expenses, and more. These small purchases can quickly add up, allowing you to earn more rewards points much faster compared to just waiting for that next big-ticket purchase.
Make it a habit to use your credit card as often as you can for everyday purchases. This can also make spending more convenient for you, as you won’t have to worry about always needing to carry cash. However, do keep in mind that you should still be paying off your credit card balance each month and not letting those purchases rack up interest charges on your account. The point is to use your credit card more often while still having the means to pay off those balances in a timely manner, and not to use the card as an excuse for reckless spending.
4) Pay for Group Expenses
Group expenses—whether they’re for family dinners, outings with friends, or grocery trips with your roommates—usually lead to high bills. During such cases, the norm is for everyone to pool the needed money first before making a payment.
But if you’re confident in your ability to pay, consider offering to charge the group’s bill to your credit card first, then having everyone pay their share to you later. This way, you’ll get rewards points for that large purchase without actually having to shell out such a huge amount, provided that the rest of the group will pay you back promptly.
Just make sure it’s clear how much each person in the group owes you, as you wouldn’t want to shoulder extra expenses. Ask for their share to be paid immediately or within just a day so that there’s no risk of the payment being forgotten.
5) Maximize Your Referrals
Oftentimes, you can also earn cash incentives and extra rewards to make referrals. Ask your credit card provider how their referral system works. Some may issue you a unique referral link or code, while some may require you to fill in a form.
You can then convince friends and family to sign up for a credit card through your chosen referral method. If they get approved, then you may be able to enjoy some substantial referral rewards. Just remember to carefully read the terms of the referral program to see if there are any additional criteria needed for you to claim your reward.
There’s a multitude of benefits that come with having your own credit card, such as not having to carry cash all the time, easy monitoring of your expenses through your statements and, of course, the opportunity to rack up rewards for each purchase. Use the tips in this article to accumulate points more quickly and to secure your eligibility for your rewards program’s best perks.