How to Plan Your Spending for the Best Rewards

By Leni Parrish on September 3, 2012

Spending the Best RewardsHalf of the battle in getting the best credit card rewards is strategizing for the best results. Those who have experience with rewards credit cards know that a good strategy is a key to success – having a game plan that can give you the highest rewards with every purchase you make.

Here are a few things you can do to boost your total rewards haul:

1. Carry multiple cards – You will never maximize your total credit card benefits if you use only one card. Most credit cards have extra rewards at the selection of the cardholder which cover only a few spending categories, and often only for a few months. You should always sign up for more than one card to use the two together to cover more categories, and more time.

2. Seek annual fee cards – Many credit card users skip over credit cards with an annual fee, never realizing that the annual fee can be more than a cost – it can be an investment. The best rewards are on the cards with annual fees because credit card companies know that they can only afford to give big rewards if customers use their cards more often. When customers pay an annual fee, they’re committed to the card. Those who want to maximize their rewards should never rule out an annual fee card simply on the basis that the card carries an annual fee.

3. Push for upgrades – Some credit cards are offered only to long-term customers. After having your credit cards for more than one year, see if the company has an immediately available upgrade that promises higher rewards for each purchase that you make. You might be surprised how quickly you can boost your rewards points; you might even get a new sign-on bonus!

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