This article is sponsored by Westpac Altitude Rewards Card.
Use your present life-style to maximise your bank card reward factors and get extra bang in your buck. Listed below are a couple of methods to signal your self as much as perks value bragging about.
Typically it’s arduous to earn sufficient reward factors to make having a bank card worthwhile. That is why not all bank cards are good worth for money and equally, not all reward packages are value losing your time on.
Select the very best bank card for you
That is crucial step in your journey to maximising your bank card factors. Don’t get roped into selecting a card solely primarily based on its rewards program or flashy advertising marketing campaign. As a substitute, do your homework and work out how a lot it’ll price you. What are the annual charges and curiosity prices like? Are there every other prices you have to be cautious of?
Then see how the prices stack up in opposition to any signup bonus provided, complimentary options, partnerships with different retailers and so forth.
Westpac, for example, presents a spread of bank cards, no less than considered one of which offers you a decrease annual price. This would possibly imply not be on the receiving finish of some options however maybe you don’t really want them.
Be a factors hacker and regulate the marketplace for profitable new signup offers to take advantage of your incomes potential.
Reap the benefits of signup bonuses
In case you’re nicely into your analysis there’s no probability you possibly can have escaped adverts from bank card suppliers providing an enormous variety of factors when you spend a sure amount of cash inside a sure variety of days.
Westpac’s Altitude Black Credit might earn you 150,000 bonus Altitude Factors if you spend $4,000 or extra on eligible purchases inside 90 days of your new card’s approval. It’s a worthwhile providing when you’re already spending greater than $1,335 monthly and are more likely to meet the supply threshold.
Deal with points-to-dollar ratio and high-value purchases
You’ll want to decide on a bank card that provides you a excessive points-to-dollar ratio in any other case your rewards stability will go up at a snail’s tempo.
Let’s check out Westpac’s Altitude Black and Altitude Platinum playing cards. The primary one offers you 1 Altitude Level or 0.5 Qantas Factors per $1 spent whereas the latter will earn you 1.25 Altitude Factors or 0.75 Qantas Factors per $1 spent on all eligible purchases. It’s vital to bear in mind although that a greater points-to-dollar ratio will almost definitely carry the next annual price for extra rewards, resembling insurance coverage on purchases or 24/7 concierge.
That is the place costly purchases or classes are available in. Spending on flights and lodging is nice methods to earn extra factors. Select a card with partnerships that fit your spend after which use the identical hard-earned factors to make journey purchases, spend on a protracted weekend away together with your mates or get round city.
Westpac’s companions embody Spotify Premium, Airbnb, UberEats and extra — all nice choices that many Aussies use on occasion if not every month.
Use your bank card on the each day however repay your invoice ASAP
So long as you’re not spending past your means, utilizing a bank card in your each day purchases is a good way to maintain incomes factors, like for grocery runs that at all times result in a hefty quantity. You may be out for dinner with buddies — don’t cut up the invoice simply pay the whole quantity and easily ask your mates to switch again the money.
Whereas doing the above is nice, you have to keep away from being caught with excessive curiosity in any other case you received’t be maximising your reward factors. Repay your complete stability in full and keep away from any late charges.
Add an extra cardholder
In case you and your partner are comfy sharing playing cards, you possibly can simply improve the month-to-month spending in your bank card to earn extra reward factors. You simply must see if the corporate you’re with is joyful to ship an additional bank card for a similar account.
By racking up the next factors stability, you possibly can spend on a much-needed home break — given the toll 2020’s taken on all of us — we might all use one. Westpac’s Altitude Rewards program would, for instance, be nice for anybody who’s a loyal Qantas traveller.
On the finish of the day, it’s all about doing all your analysis and never falling for advertising gimmicks that’ll go away you excessive and dry.
Disclaimer: This text comprises normal info solely and isn’t supposed for use as private recommendation.
The post How to Get the Most Out of Your Credit Card Points appeared first on Correct Success.
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