7 Tips to Get the Best Benefits of Your Credit Card

One of the purposes of applying for a credit card is to get its reward. We can find various and beneficial credit card offers from all brands on the market, today. And, that will multiply the advantages of the credit card. It won’t only be a simple and easy transaction tool. You also can earn more profit from using it with all those rewards. 

However, many of us don’t know how to maximize those rewards. In the end, we miss the benefits that we should receive from the card that we use almost every day. For that reason, here we have several tips that will help you to get the best benefits from the offers that your credit card has. 

Evaluate Your Credit Card Usage

The first step to maximize your credit card value is evaluation. Have you used all its bonuses and rewards? Have you received the bonuses that make its annual fee feels lower than before? Are you using your balance transfer offer effectively? If all answers to those questions are now, you don’t have to worry. There is one thing you can do, which changes your credit card.

You can request an upgrade or downgrade to get the other products from a similar company that issued your current credit card. Make sure you see the new product you will get has the benefits that you can use easily. You may have no eligibility to receive the signup bonus. But, the new card offers much better offers and rewards. So, that is worth doing.

The Retention Offer

A retention offer is another bonus or benefit you can receive from your credit card. However, you can only get it when you are going to cancel your credit card. It is one of the types of reward for keep using that card. You get a cut for its fee and receive a bonus point or something like that. 

However, before you request this bonus, you should make sure of three things.

  • You don’t use that card that much, or it is not your main anymore,
  • The retention policy has the favorable requirement, including minimum spending and such,
  • There is no better credit card product from that same company. Otherwise, you can upgrade your old card.

Speaking about the retention policy, you should pay more attention to this matter before requesting the retention offer. Make sure you read every point in the policy. Otherwise, you won’t get the bonuses you want, while you keep paying the fee for the credit card that you don’t need that much.

Do Not Keep Using One Co-Branded Credit Card

Indeed, you get huge benefits from using a co-branded credit card. However, you will only have one place to use that card. You can use it at the store, hotel, restaurant, or the brand that the card accepts. It means you only use one reward system, while many others are waiting for you out there.

Therefore, we recommend you change it to a credit card with the general reward offer here. This reward helps you a lot, especially for traveling. The rewards or bonuses maybe is a bit lower than the co-branded ones. However, with more flexibility, you have more freedom to maximize the rewards you receive from it. 

Manage the Rewards

One of the essential things to maximize your credit card offers reward is an efficient management system. Knowing and understanding your reward status help you to use it effectively, thus, you get more benefits from it.

You will need it, especially, for traveling, where the travel point matters a lot for the value of rewards you will receive. With good reward management, you will know how many points you have. Then, you also can find out, how many points you need to spend to get the best benefits from your credit card.

Also, pay attention to the reward expired date. Some of the credit cards have an unlimited period for their reward, as long as you hold and use them. However, the rewards from a specific place or usage also can change and disappear along with time. So, it is not wrong to keep a track of that change. Create a specific note to write them down for your evaluation process. 

See Your Points as Money

We are not recommending using credit card points to measure the monetary value of your credit card. However, you should see it as money, so you can value and appreciate it more. That way you can make a good decision when you are going to redeem your rewards.

It might be difficult to do because the points from your credit card are the most volatile. The points can change often depending on the situation and policy that the issuer makes. However, once you manage the point and learn more about it, you should understand the base value of it. 

With that information in your hand, you can determine, whether the point you have are equal with the value of the reward you redeem. That way you also can decide which rewards you should get by using the specific amount of your points. With that method, you can easily get the best rewards.

Activate the Hidden Offers

We call it hidden because not many people know that their credit card has these offers. Furthermore, many credit card issuers also don’t feature it as their product’s selling point when they offer it to you. Mostly, these hidden offers are one-time kind offers with specific merchants. They are also not automatic, so you have to activate them manually.

You can do it through the website where you manage your credit card account. Log in then add that limited offer to your card. It could be a discount for a specific merchant, bonus rewards, and many more. You don’t have to worry about adding more offers that you might never use later. It is a good thing to have these offers added to your card because you won’t know when you will use them.

Hand holding credit card in silver tray with icon. Illustration about spending and payment.

Shop at Shopping Portal

As for online shopping with a credit card, people mostly use it at the online store directly. That’s not wrong, but they miss the extra revenue that they can get from using their credit card. Instead, you can use your credit card through a shopping portal.

Many of those shopping portals use the affiliate system. They will receive a commission for every transaction made at their place. The good news here is you also can get a tiny fraction of that commission. 

The shopping portal gives that as a reward for its customer that has been using their service. It returns to your credit card point whenever you use it there. So, always use the shopping portal whenever you want to buy anything online with your credit card.

Conclusion Those are several tips you can use to maximize your credit card offers and rewards. Make sure you also learn more about the credit card policy from the issuer to find the best way to use your points. Make them your habit as well. That helps you to use your credit card efficiently and get maximize the reward you get from it.

If you interest another good guide for you it’s about Credit