How To Maximize Cashback On Your Credit Card
Many credit card lenders offer cashback and other reward opportunities to their customers. Many cardholders do their best to take advantage of these opportunities. Why do they do this? Well, the higher the cashback, the more you can spend. Cashback will definitely help you maximize your spending. Below, you will discover several tips to help you maximize cashback on your credit card.
Choose Your Everyday Credit Card Carefully
Contrary to belief, all credit cards are not created equal. While almost all credit card lenders offer cashback opportunities, the amount paid for each can vary. For example, the Citi Double Cash Card pays 1.5 percent for every purchase. When you compare this amount to what other credit card lenders are paying, there is a half of a percent difference. To maximize your cashback, you will need to choose your credit card carefully.
Other credit cards that offer higher cash back percentages on single purchases include Discover and Capital One. Do not settle for a credit card that pays only 1 percent when you can easily obtain one that will pay 1.5 percent.
Choose Your Specialty Credit Card Carefully
If you have an everyday credit card, it is likely that you also have a specialty credit card. These credit cards are designed specifically for traveling, motel accommodations, restaurants and airline tickets. Most of these credit cards utilize a reward points system. When cardholders make purchases utilizing these credit cards, they have the opportunity to earn anywhere from 2 to 6 percent in cashback rewards. Of course, the amount paid will depend on the type of purchase you make.
Use Your Credit Card To Pay Bills
You can earn cash rebate from this credit card by utilizing it to pay your bills. Most consumers prefer paying their monthly bills with a debit card or personal check. While this is great and all, you could maximize your cash back by utilizing your credit card instead. Most companies and utilities accept credit card payments. And, most lenders encourage cardholders to utilize their cards to pay their monthly bills. So, why not take advantage of these opportunities to earn more in cash back rewards.
Use Your Credit Card To Pay For High-Ticket Items
The credit card industry is extremely competitive. So, getting approved for a credit card these days is a breeze. Of course, you will want to do your research to ensure you get the best credit card for you. Instead of utilizing cash, check or a debit card to pay for high-ticket items, you should utilize your credit card. The more expensive the item, the more you will reap in rewards. It is also recommended to utilize a credit card to pay for your children’s education.
When you choose to utilize your credit card to pay for your child’s tuition, you could be rewarded significantly. Many universities and colleges now offer discounts to students who pay their tuition in full and upfront. In the meantime, you will earn anywhere from 1 to 2 percent cashback. So, it is a win-win for everyone involved.
