Are you making the most of credit cards with rewards?

Nowadays, it seems like everyone has a credit card. For buying stuff on the Internet, booking flights over the phone, impulse buying at the mall… we’ve really come to rely on them a lot! But many people overlook that credit cards with rewards offer more than just convenience.

Think about it: how do credit card companies stay in business? Well, by getting as many people as possible to use their credit cards as often as possible. The more you spend, the more they earn on interest and other fees. So with such a competitive market, the various companies and partners are falling over themselves with better and better offers. Many people overlook these perks, but really, you’re paying enough for this service, so why not make the most of it?

Take travel for example. Do you take out travel insurance for you and your family? Stop! Check your credit card terms first, because many of them come with travel insurance built in. And booking your flights and car hire with your credit card could also get you a nice discount too.

Credit card companies want you to buy stuff using their cards, and retailers want you to buy stuff from them. So you’ll also find a lot of partnerships appearing that take advantage of this synergy. Maybe your local restaurant will give you a discount if you pay using a particular brand of credit card, or you may get priority seating at a local concert. Larger retailers may even offer branded credit cards to encourage you to open a credit card account through them.

The global scope of the major credit card players can open a lot of doors for their customers… literally! Try their concierge services to book a table at a popular restaurant, or see if they can get you into a fully booked concert or sports event. Don’t forget that some of those booked places are held by the credit card companies themselves especially for their customers.

Of course, each credit card comes with different perks, and it’s worth comparing these benefits in detail before deciding on one. Depending on your lifestyle, APR and other figures that are usually used for comparisons are not the only criteria you should depend on when choosing between credit cards, with rewards playing an increasingly important role.

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