Are you getting the most from your credit card rewards? Learn how rewards programs work and discover some simple tips that can help you get more value from the purchases you’re already making.
Earning credit card rewards is easy. Getting the most value from them can take a little more know-how.
Most rewards cards allow you to earn points, miles or cash back on eligible purchases and redeem those rewards in different ways. But rewards programs aren't one-size-fits-all.
How much you earn, which purchases may earn more, how you can redeem your rewards and whether they expire – can vary by program.
Want to make your rewards work a little harder?
Six tips to help you get more from your card
1. Use your card for everyday spending
You don’t have to spend more to earn more rewards. Consider using your rewards card for purchases already in your budget, such as groceries, gas, dining or recurring bills, and then manage your balance as you normally would.
Tip: Some rewards programs offer additional points or cash back in certain spending categories, such as gas, groceries, dining or travel. Check your card’s program to see where you may be able to earn more on things you already buy.
2. Know where you can earn more
Not every purchase necessarily earns rewards at the same rate. Some programs offer bonus categories, limited-time promotions or other opportunities to earn additional rewards.
Tip: Check your rewards account or card benefits periodically. If your program offers bonus categories or special promotions, knowing about them before you shop can help you take advantage of them.
3. Be strategic about redeeming your rewards
Depending on your program, you may be able to redeem rewards for cash back, statement credits, travel, gift cards, merchandise or other options. But your points may not have the same value with every redemption choice.
Tip: Before redeeming, compare your options. Rather than automatically choosing the first one you see, consider which gives you the most useful value for your points.
4. Don't let rewards expire or disappear
You've earned those rewards, so don't forget about them. Depending on the program, rewards could expire or be forfeited under certain circumstances, such as closing an account.
Tip: Make it a habit to check your rewards balance a few times a year and review your program's expiration and account-closure rules. Setting a calendar reminder can make this easy to remember.
5. Look beyond points and cash back
Rewards may not be the only benefit that comes with your card. Depending on the card, there may be other benefits available, such as travel-related perks, purchase protections or special offers.
Tip: Review your card's benefits guide or online account at least once a year. You may discover a perk you've been eligible for but haven't been using.
6. Don't spend just to earn rewards
Here's perhaps the most important tip: rewards are only rewarding when the spending makes financial sense.
Buying something you didn't plan to purchase just to earn points usually isn't a good trade-off. And if you carry a balance, interest charges can outweigh the value of the rewards you earn.
Tip: Think of rewards as an extra benefit for purchases you were already planning to make, not as a reason to spend more.
The bottom line: A little strategy can go a long way. Know how your program works, use your card intentionally and check in on your rewards periodically. That can help you get more value from purchases you're already making.
NEW! Use Your Points at Checkout
With Arizona Financial Premium Payback™, eligible Visa® cardholders can redeem rewards points toward qualifying purchases at participating merchants. If an eligible offer appears at checkout, you can choose to use your points for instant savings.
Rewards and redemption values may vary. Refer to the ScoreCard® Rewards program for current redemption rates, options and details.
