Guest Post

Many frugal experts will shy readers away from using credit cards because it can be easy to overspend. But credit card rewards can actually help you save.

Here are ten ways to use credit card rewards to benefit you:

1) Statement credits: Some cards, like the American Express Blue Sky card, allow you to use your points as a statement credit toward qualified travel purchases, including any flights, hotels, or car rentals. If you do any traveling at all, this is a useful reward that is basically like cash toward your statement.

2) Gas rebates: A straightforward reward for something you always use, gas rebates can be an easy way to make sure you are using your points for something you will use.

3) Fund your IRA: Some cards will deposit your cash rewards directly into an investment account or 529 college fund. For example, the Fidelity Rewards American Express Card will make a $50 deposit for every $2,500 in purchases.

4) Hotel stays: If your card offers travel rewards, consider skipping the rewards tickets and using your points to pay for the hotel, instead. Hotel stays are often cheaper than flights, so can be purchased with fewer miles.

5) Travel insurance: Travel rewards cards often offer great travel protection, making their annual fee cheaper than the purchase of comparable insurance. For example, the American Express aeroplan card includes automatic coverage of up to $250,000 in travel accident insurance.

6) Cash back rewards: More than half of credit-card users choose to get their rewards as cash. Look for a card that maximizes the percent back on the items you actually buy the most. One nice straightforward option is Capital One’s No Hassle Cash Rewards Card, which pays 2% cash back on gas and groceries and 1% back on everything else.

7) Retail shopping: If you do much of your shopping in one place, you might find that the big benefits of merchant rewards pay off for you. Merchant rewards points can be worth almost twice the dollar value of travel reward points. Chase’s Amazon.com Rewards Visa offers triple points on Amazon purchases, which can add up fast, and a $40 Amazon credit for signing up.

8 ) Catalog products: Many rewards cards offer a catalog of home items and electronics. Generally, these items can be purchased much more cheaply with cash at an online retailer than with points. But, if you have points that are about to expire, these purchases can use a small number of miles and don’t require any additional expenditure.

9) Gift cards: Much like catalog products, they can be purchased with a small number of points, making them a great way to use points that would otherwise expire. And unlike catalog products, they can be used to buy a huge variety of products in the future.

10) Frequent Flyer Miles: Rewards cards are most known for their frequent flyer programs. If you tend to travel on one airline, choose a card for that airline. Otherwise, consider a flexible card like Capital One’s VentureOne Rewards Visa, which lets you spend accumulated points on travel with any airline or hotel.

When signing up for a rewards card, be careful that the annual fee doesn’t exceed the card’s benefit for you. And read the fine print for exceptions. For example, even one late payment on the American Express Blue Sky card can cost you all your rewards points for that billing cycle.

With a little caution and research, credit card rewards can be a great perk for purchases you are already making!

Image Source: CreditCards.com

Related Posts:

How Can Air Miles Credit Cards Get Me Traveling Further?
How Can a Credit Card Save You Money?
Advantages of Business Credit Cards

OR, AVOID ROUTINES – DO SOMETHING UNUSUAL!

By Dave Kelly

Are you in a rut, bunky? Feeling like every day is like the day before? And you are certain that you are not caught up in a “Star Trek” or “Groundhog Day” like time loop?

I have an idea for you!

Change things up! Do something impulsive, unusual, or out of your world. Go for a bike ride, take a dance class, or apply to be an astronaut. An astronaut? Sure! You might not make it, but would it not be cool to go through the interview process?

Or take a trip.

I am currently 9,500 miles short of making it to “Gold” status. I have a flight to Milwaukee at the end of the month that will get me 669 miles. So, how do I get to my coveted status? My goal?

I am doing something different!

I am going to get on a plane in Atlanta on December 15th and fly to LAX airport (1941 miles). Then, I am going to return to Atlanta an hour later (1941 miles). And after I get to Atlanta? I am going to do it again! 3882 miles! That is 7,664 miles in a 24 hour period.

That will leave me around 1,160 miles short of what I need to qualify as a “Gold”. So, upon my return to Atlanta, I will hop a flight to Milwaukee, and fly right back an hour after landing.

Crazy? Yes. Stupid, In some people’s eyes, sure. But, am I excited and looking forward to it? Absolutely! For over 20 years, I did the 9-7, on call all the time, many times working until midnight and hating it. Life is too short not to have some fun and do something goofy.

And I have submitted it to the “Guinness Book of World Records” for consideration as “Most Miles Flown in a 24 Hour period on a Commercial Airline within the Continental United States”. I’ll let you know if they accept it!

This plan of mine might not work for you. I got some incredible airfare deals, or else I would not be doing it. However, what can you do to break your routine? To give yourself something to look forward to? My wife and Little One became members of the Georgia state parks’ Canyon Club. They have already visited two of the four canyons in Georgia and are looking forward to the others.

Break your routine. Be crazy. Do something fun.

By the way, you can follow my adventure, which I am calling “Gonzo’s Great Gold Quest: Delta Airlines and Me” on Facebook, Twitter, and YouTube. The first of my video updates can be seen at YouTube.

Feel free to live vicariously through me those days. Happy skies!

If you are looking for a great speaker for your next event…

Look no further because I am the one!

Do you need a great inspirational speaker for your next event?

No matter what you call it, I am available for your next conference, convention, conclave, convocation, reunion, rally, workshop, ed session, orientation, meeting, before/during/after breakfast/lunch/dinner, gathering, commencement, groundbreaking, team building, staff development, leadership retreat, continuing education, ceremony, assembly, congress, council, confab, forum, roundtable, symposium, opening session, closing session, or any session in between. I present practical information in a fun and informative manner with humor, stories of overcoming obstacles, and with anecdotes about cats, football, and biscuits and gravy (among others). I can entertain and inspire your audience for 15 minutes to as long as you need me to. Please call or email me and we can easily work out the details! To see what dates I have available, feel free to contact me via email.