Credit card – Maximizing the value of it

The ins and outs of your rewards credit cards can help you capitalize on all of their benefits.

Here are five steps you can take to ensure you’re maximizing your credit card rewards.

1. Get the right card There is no one-size-fits-all credit card: An outstanding product for one person could be a horrendous option for another. Your best bet is to find a rewards program that matches your spending habits. 

2. Charge everything (then pay it back quickly) You can maximize rewards by charging all your purchases to your credit card. Rewards cards offer either a set number of points/miles or a percentage of cash back on every dollar spent. So the more you charge, the greater your rewards. 

3. Use many cards Juggling multiple cards can add a level of complication, but it also makes it easier to maximize rewards. For example, you might start by using one card for everyday purchases, such as offers 2% cash back on all purchases: 1% back when you buy and 1% back when you pay it off. 

4. Remember no need to modify your spending simply to match your credit card rewards categories. However, it doesn’t hurt to be cognizant of the categories, especially if you use multiple credit cards. 

5. Uncover hidden perks. Do you know everything your card can do for you? For example, consumers can get 25% more value when they redeem for travel booked through Chase Ultimate Rewards. Save 20% on in-flight meals and entertainment. Terms apply. Your benefits may also differ depending on what network your card runs on.