A lot of reward credit cards offer more than just one type of reward system. By combining two or more reward types in one card, cardholders are given more choices and flexibility when it comes to redeeming points. For instance, reward cards with Frequent Flier Miles reward primarily offers its cardholders the chance to travel for free using the points they earned from their purchases. However, there are travel reward credit cards that allow you to exchange your mileage points for gift certificates, or merchandise, rebates or cash back.
Why Exchange Miles Rewards for Gift Check, Merchandise or Cash Back
There are instances when a travel reward credit card holder may opt not to claim his/her opportunity to fly for free. Instead of free airline ticket, you may decide to exchange your points for other valuable goods if you feel that it’s not the perfect time for you to go on a trip. It is very important to find a travel rewards credit card with other reward options to avoid forfeiting your hard-earned points.
Does your Frequent Flier Miles card provide you with flexibility and convenience? Are you allowed to exchange your mileage points for other incentives in case you won’t be able to go on travel? Can you carry over unredeemed points for the past year or will you lose all those points if you fail to make a flight reservation? These are important factors to consider when reviewing the card’s Terms & Conditions.
On Earning Credit Card Rewards Points
Having a reward credit card isn’t just about grabbing opportunities. Do not just buy things for the sake of earning more points in your account. You also need to think whether you can afford to pay off that purchase in full before your due date to avoid the additional interest rate costs. Take note that credit cards with rewards usually carry higher APR than non-rewards cards so if you’re going to leave a balance, you’ll end up paying for more than the original amount you owe.
Before signing up for a reward credit card, you need to weigh your options very carefully. Asking yourself the following questions should help you weigh your decision:
• Will the costs of the card offset the value of rewards that you can earn?
• Does that particular credit card really give you a realistic opportunity to enjoy your rewards?
• Will you get points from your regular purchases or do you need to purchase from a particular shop?
• Will you lose your chance to be rewarded if you fail to gather enough points on time?
• Are the restrictions of the reward program reasonable?
If you’re a reward credit card holder, it is your duty to make sure that you are earning the points you deserved from your purchases. Check your account regularly and see to it that all the points you earned from your purchases are accurately credited to your account. You can check your rewards by calling your issuer’s customer hotline or by accessing your account online. If you have any queries regarding the calculation of your points, call your credit card issuer right away.
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Monday, October 5, 2009
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