The best ways to maximise your rewards points

Credit card reward points, most of us have access to them but how do we get the best use out of them?

The answer is NOT to spend more on your credit card to earn more points!

Instead, you should:

  1. Choose a card that has a low annual fee.
  2. Cards that provide at least 1 point for $1 spent give you the most value.
  3. Ensure that points are used before they lapse.
  4. Ensure the interest is repaid on time every time!
  5. Make use of double reward points where appropriate. Some cards and rewards systems offer a point for each $ you spend plus an extra point for shopping at a particular store.
  6. Use your reward credit card to pay for flights with the reward partner.
  7. Use frequent flyer points firstly for:
    1. Flight upgrades, to maximise the use of points.
    2. Then for flights.
    3. Then for taxes on flights.
    4. Lastly for store vouchers or reward items, (as these generally offer the least value for money).

Continually review and compare your rewards scheme and credit card to ensure you have the best match.

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General Advice Disclaimer

This article contains general advice only, which has been prepared without taking into account the objectives, financial situation or needs of any person. You should, therefore, consider the appropriateness of the information in light of your own objectives, financial situation or needs and read all relevant Product Disclosure Statements before acting on the information. Whilst every care has been taken to ensure the accuracy of the material, Paradigm Strategic Planning or Sentry Advice Pty Ltd will not bear responsibility or liability for any action taken by any person, persons or organisation on the purported basis of information contained herein. Without limiting the generality of the foregoing, no person, persons or organisation should invest monies or take action on reliance of the material contained herein but instead should satisfy themselves independently of the appropriateness of such action.

Paradigm Strategic Planning Pty Ltd is an Authorised Representative of Sentry Advice Pty Ltd AFSL 227748

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