Here’s How To Cash In On Credit Card Rewards And Take Advantage Of Your Points This Holiday Shopping Season
If you’re in your 20s and have started earning a consistent income, you most likely already have a credit card or are in the process of getting one.
After everything that’s happened with the economy in the last few years, some people from younger generations are hesitant to apply for credit cards, even if they are fairly financially stable, as many grew up with parents who were dealing with credit card debt or heard horror stories about falling behind on credit card payments.
However, when you responsibly use a credit card, lots of them have many perks that you should be taking advantage of, especially around this time of year. After all, we’ve entered the holiday season, which is typically the time of year when people are spending a lot of money.
Here are some ways to take advantage of your credit card points and rewards during the holiday season!
Use cashback rewards when buying gifts
If you have a credit card that’s been racking up cashback rewards any time you’ve used it, now is the time to use them! When you buy a gift for someone, choose to pay for it with your cashback rewards when it’s time to pay your bill. This way, you don’t have to worry as much about saving money for gifts in advance.
Look into discounted products
Some places offer discounts on certain products and gifts for certain credit card holders. Go on your credit card’s online portal and see if there are discounts on certain items or brands you can use! For instance, some credit card portals will offer you 20% off a skincare brand or $5 off your next online order with a certain company.
This is the best time of year to take advantage of discounts and coupons, so don’t be afraid to use them.
Photo 47409343 © Iryna Kalchenko – Dreamstime.com – illustrative purposes only, not the actual person
Start paying with your credit card now to benefit you later
If you haven’t racked up a ton of credit card points or cashback benefits yet, that’s okay! Start using your credit card for all of your holiday shopping now so that you can build up those points for next year and future events. If you know you’ll be able to pay your next credit card bill on time, go ahead and use it as much as you can to gain more benefits for the next holiday season!
Use your points for travel
One of the best parts about having a credit card that racks up travel points and airline miles is getting to use them during a time when airline travel is at the highest rates, which is usually during the holidays. I know people who have saved up so many travel points that they’ve been able to score a flight across the country for less than $100.
If you have to travel to visit with friends or family this holiday season, use up those travel points and airline miles! You’re already spending money on gifts and other expenses, so you might as well save money on travel if you can.
Use travel discounts
Similar to product discounts in your credit card portal, there may also be discounts on travel opportunities you could use! For instance, some credit cards offer 10% off hotel bookings in a certain area, $25 off a rental car, etc. See if any of those discounts apply to the area you’re traveling to and utilize them!
Again, while credit card usage can get risky if you’re not careful, there really are so many benefits that come with them that you shouldn’t be afraid to use. Do some research on your specific credit card to see just how much you can redeem, and rest easy knowing you’ve saved some money this holiday season!
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