How to Leverage Credit Card Rewards Points - and Score Big!
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Evil Credit Cards
We all know credit cards are evil. They entice usa with their power to buy us things when we don't have the cash, and then proceed to suck united states of america dry with always rising interest rates. Wiggle-faces. Merely information technology doesn't have to exist that style. Credit cards can exist our friends if nosotros use them right. We merely have to acquire to play the game. Nosotros tin can leverage credit card rewards points to get great deals!
I went to All-time Buy recently and bought a very nice Canon WIFI camera (priced at $279.99), a 64 GB memory card ($89.99), a gaming controller ($24.99), and a Bluetooth wireless speaker (39.99). That is nearly $400 worth of merchandise!! Do y'all want to know how much money I spent? $5.31. That'southward right, I scored nearly $400 worth of goodies from Best Purchase and I only paid five dollars and thirty-1 cents!
Impossible!
Just its really not. Y'all can leverage rewards points to fob the organization and score big! There are two main rules for leveraging rewards points. The offset is that you should never buy stuff you don't need to gain points, and the second is to always pay off your credit card balance in full.
Rule ane to Leverage Credit Card rewards
I followed the starting time rule to vanquish the BestBuy credit card at information technology'southward own game. I needed a new laptop. My old laptop was running out of memory, and didn't have the ability to process the pictures I needed for my web log. I budgeted for this. I had 3K put bated for computer shopping in my next large purchase business relationship.
Pro tip: You should never make a huge purchase similar this without budgeting for it!
I went into Best Buy armed with my cash and an excellent idea of what I wanted. As I was browsing laptops and comparing specs, I noticed a sign for the Best Buy Rewards credit card. They were offer 10% back in Best Buy rewards when yous purchased items with a new business relationship. Unremarkably, a bargain like this wouldn't entice me, but the laptops I was looking at were between one and two grand, and so 10% back is a pretty nice chunk of change. And don't forget, I needed a bunch of accessories! I also knew that I'd need a new camera at some point. The wheels in my head started turning…could I go the card and use the reward points to buy my new camera?
I picked out the perfect laptop (considering the keys light upward like a rainbow!) and all the accessories. The total price for everything I needed came to almost $2800. I applied for the Best Purchase rewards card, and chose the Best Buy rewards selection. They also take a one yr no interest choice, but since I had the cash, I knew I would be paying it all off correct away.
Pro Tip: Pay off your credit cards right away!
Dominion ii to Leverage Credit Card Rewards
This brings us to dominion number two: Pay off the credit carte du jour right abroad so that you don't have to pay involvement. That'south how they get you. They requite y'all $250 in rewards, but they know that most people won't pay the credit card off correct abroad. Guess what, if you don't you lot volition be paying three times that in involvement!
I did have to wait two weeks for my rewards to come in, but as it turns out, that was extremely advantageous. My rewards came merely in time for Blackness Friday! I had $280 of free All-time Purchase money to spend on the biggest auction weekend of the flavor! The photographic camera was on sale for $230, then I had an actress $fifty to spend on any else I might need! I chose a gaming controller for $14.99 and a wireless speaker for $ix.99. As well, I bundled the retention carte with the photographic camera for even more savings. The $89.99 memory card was only $fourteen.99 when arranged with a new camera. And of class, I paid off the credit card and then no interest was incurred. Remember, that'southward how they get you!
If yous're interested in leveraging a rewards card, check out the ten best greenbacks back cards yous can get. You'll definitely find a bargain that's right for you!
The Moral?
The moral of this story is that credit cards don't take to be evil. When used correctly, they tin really be very advantageous. Y'all can apply the credit card rewards points to save a ton of money! Just don't forget the two key rules:
i. Don't buy things you don't demand simply to get points.
ii. Pay off the credit card right away so you don't have to pay interest.
If you do this, y'all can beat the credit cards at their own game and come out a winner.
Source: https://partnersinfire.com/finance/leverage-credit-card-rewards-points/
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