Couple Money

How to Get the Most from Reward Credit Cards

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Last month I signed up for a credit card to get some cash back. To be honest, I've been debating this for a bit.

On one hand, I've noticed an uptick on credit cards offering bonuses for signing-up, up to $500. Extra money is nice, but you don;t get something for nothing.

I worry about how chasing the rewards may change our spending.

Our monthly expenses has been fairly consistent, so I believe using the credit card won't increase our spending while we grab some cash back rewards.

I hope I'm correct, but I'll be tracking the numbers just in case.

Maximizing Reward Credit Cards 

If you already have a reward or cash back credit card and you're looking to maximize your rewards, here are some tips:

I'd even suggest reviewing your usual spending habits for the past year and see if your current reward cards are being optimized. With free tools like Mint it can take 10-15 to pull the data and you can quickly see where you can adjust your spending.

Reward Debit Cards

For some readers though reward credit cards are too much hassle and not enough bang for their buck. They prefer to use debit cards to keep from getting charged by the credit card company.

While most debit cards don't offer rewards, there are a few options out there that may be of interest like PerkStreet FinancialSM Debit MasterCard® which has a cash back rewards program.

Thoughts on Reward Credit Cards

I'd like to hear from you about credit cards. How many of you have reward credit cards? How many of you use it regularly to maximize its bonuses?

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