Every time you purchase a credit card or store loan, you earn a point or two! Well, about 100,000 points or 5% of the purchase! Who wouldn’t want to accumulate points? You can keep them for the rest of your life! But with cash back credit cards, what happens to those points? Well, the credit card companies are actually the ones who make money, so basically they make a profit transferring your credit card balances, making it more difficult for you to redeem them! You can get a point or two for every $100 you spend! That’s plenty. But how do you redeem them? You take from 50% for yourself, or get a monthly percentage of $100.00. That means that once you hit 7,500 points, you will receive 1 point. That is just 1 point being sent to your rewards card account, as you can’t get any more points. So, what is going to happen? Someone’s going to call and ask you to ‘trade off’ your points to a specific store!
Some credit card companies might provide you with a ‘points’ account that you can use these points for. However, with cash back credit cards, you can only have ‘1000 of these points’. How do you receive the rest? You can compare the fees, rewards, and other charges associated with each of these points. To learn more about credit card rewards, see Reward Options For Credit Cards.
When you’re interested in converting your points to cash back, be sure to read all the terms and conditions, to be sure that you are aware of what you are getting into! When you receive your credit card statement, take all of the ‘cash back’ you receive, place it in a filing cabinet, and put it in the filing cabinet box of your savings and loan company’s office. Make sure that the credit card company looks into these offers carefully. Some don’t exist! Other credit card companies will look only at the first ‘point’ that’s used, and apply those points. If you’ve received a ‘point’ before, you should know that you’ve been paying the credit card company for the time being, so don’t skip a beat! Of course, if you still can’t figure out what to do with the ‘1000’ that you’re getting then that’s the time you get started on getting credit to get your dream car back! You might also want to look over some of the other incentives that are available. In most cases, you can get a points reward for making a single purchase, but there are a couple of things you’re going to want to look over before you get started.
First, is giving away points back free! In many cases, it’s a good idea to get points in a small amount of reward category, for example, food or shopping, to help you maximize the points you’re getting back. After you’ve already accumulated points, you can use them immediately to redeem them! You can also make purchases on the credit card through that particular vendor when you redeem your points. The more of the credit items you shop for on any given day, the more of a nice difference that you’re getting back instead of throwing a bunch of points at a store that doesn’t even have a candy bar stand!
Now you know what to look forward to this month. To be able to redeem some of your points you are going to need to have some cash at hand. A great place to find some cash or to transfer your points for a special occasion is to visit a local cashier or clerk and let his or her know that a ‘digit’ has been taken from your credit card. How many times have you gone by only to be let down and disappointed by the answer you get instead of coming home to find the store was the same one that provided you with that ‘digit’ digit for that particular item you have purchased! It’s also important in some cases to go take a look at the order form that has been provided to you by the credit card company, to see if they might be able to do that for you.
Now when you’ve checked out your credit card requirements, and there are still a few more new purchases, you’re sure to be able to find a special credit card! Then you’ll want to be sure that you have a good credit rating. Just filling out one of the applications for credit cards can usually help you get it. You just might want to do the application online as well, so that you can see what the credit card involved could do for your credit. It’s important in order for you and your family to maintain good credit, whether you want it or not.