Spending sprees often end in greasy guilt. There are tricks and hacks that can help you make the most of your spending. Tapping into the reward systems that credit cards can help you unlock benefits. Timing purchases and using loyalty programmes could mean spending that will bring better rewards or cashbacks.
Reward System
Taking the time to understand how the reward system of your bank works will help in the long run. While paced spending is always ideal, some banks reward daily spends. Some others have commodity specific rewards for spends. There are also rewards for specific spending like dining or accessing airport lounges. The platforms of banks will allow comparison as well, allowing the user to choose the best rates.
Plan Your Purchases
Timing your purchases also opens up a wide array of offers. Sales are often supported by bank and merchant tie-ups. This means that specific banks may have cashbacks or reductions in certain retail platforms. Huge sales like end-of-season or festive sales often whip up hefty bills that easily qualify for benefits in the future. Timing the big purchases can boost the rewards that one gets on big bills.
Membership Programmes
There are card-linked platforms and loyalty programmes that boost the benefits of the card-holder. Keeping a check of points and bonus benefits could provide premium rewards like discounts on travel and more. Accumulating enough points to vouch for decent discounts will also be easier if there is a loyalty system involved. Ensuring that paced payments are made without going over the 50% of the amount can keep the credit score in check as well.
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