3 Ways Your Credit Card Rewards Can Make You Rich

By Jason Steele. Last updated 2 May 2017. 0 comments

This post contains references to products from our advertisers. We may receive compensation when you click on links to those products. The content is not provided by the advertiser and any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any bank, card issuer, airline or hotel chain. Please visit our Advertiser Disclosure to view our partners, and for additional details.

If you don't already have a credit card that offers rewards (whether cash back or travel), it's time to sign up. If you're worried about being able to understand all the terms or rules, or wonder if it'll make you go further into debt, just take a little time to consider your shopping habits and review some "best" lists (we have lots of them!). As long as you commit to paying off the entire balance each month, you'll be pleasantly surprised at how credit cards can help you save and make you richer! (See also: Ask These 7 Questions to Help You Choose the Perfect Credit Card)

Cash Back for All Your Purchases

If you don't want to grapple with redeeming your points for travel, get a simple cash back credit card. No matter what you purchase, you'll get cash back for it. It doesn't get easier than that. If you spend a lot in one particular category, you might want to look into a card that offers bonus cash back for those purchases. For example, if your family spends a lot in groceries every month, you should be using a credit card that offers bonuses for supermarket purchases. (See also: How Cash Rewards Credit Cards Actually Work

Automatic Saving

You know how it's so hard to fill up that "trip jar" for your dream getaway? There never seems to be any money left over at the end of the month to add to it. Well with a travel rewards credit card, you'll be racking up points with your normal purchases. It's essentially filling up your trip jar for you, automatically. Since you can only use it for travel (to get the best value for each point), you won't be tempted to reach in and grab a few bucks. Once you've accumulated enough points, redeem them for that trip you wouldn't have otherwise been able to save for. (See also: How to Redeem Rewards for Free Trips)

Cash Bonuses

There's nothing better than getting a wad of cash, free. That's what many cards offer new cardholders. This doesn't mean you should sign up for a hundred different credit cards. At some point your score will plummet and you'll no longer be approved. However, if you pay attention and wait for a lucrative cash bonus offer, you can come away with some extra cash, and a useful rewards credit card, too.

3
Average: 3 (5 votes)
Your rating: None
ShareThis
Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Guest's picture
Lynne

I will certainly try these things because this seems like a great idea. Please do keep on writing more post about making money.