People with credit cards that emphasize rewards points have strong incentive to make sure that they maximize their collection of rewards points. After all, such credit cards come with increased costs compared to counterparts with fewer features, meaning that their card-holders need to maximize their collection of rewards points to make sure that they get full value for their increased credit card costs. With that said, it is interesting to note that buying gift cards can be useful way for interested individuals to increase their collection of rewards points in spite of the fact that it is not exactly the sort of thing that first comes to mind when maximizing the collection of rewards points comes up.
How Can You Use Gift Cards to Get Rewards Points?
The method for using gift cards to maximize the collection of rewards points is rather simple and straightforward in nature. In short, people should use their credit cards to buy gift cards before using those gift cards to make their purchases. On its own, this is no better than using their credit cards to make their purchases, though it will still provide them with some benefit. However, this becomes much more important when interested individuals have credit cards with reward categories because gift cards can be purchased in places other than the stores that issue them.
For example, suppose someone wants to buy books from a bookstore. If they use their credit cards to make their purchase, they will still get some rewards points but not as much as if they had made purchases at a store belonging to one of their reward categories. As a result, interested individuals should take a look at the rewards categories on their credit cards before buying gift cards from such places. For example, if they have supermarkets included as one of their rewards categories, they should buy the gift cards from supermarkets so as to earn more rewards points for their spending than otherwise possible.
Of course, there are a number of potential complications that come with this particular strategy. For example, this tends to be limited to gift cards that are intended to be used at particular stores rather than gift cards that are intended to be used with particular payment networks. This is because a lot of stores don’t let people pay for the second kind of gift cards with credit cards because they are concerned about scammers cheating them by using credit card fraud of some kind. Furthermore, the strategy is reliant on interested individuals being able to find the gift cards for the stores that they are interested in from stores falling under their reward categories situated in places that are convenient for them. As a result, while this process can be simple and straightforward for some people, other people might need to put in a lot more effort if they don’t live in places that are situated close to a lot of suitable retailers.
With that said, there are some other important considerations to keep in mind as well. For example, it is not uncommon for credit cards to have reward categories that rotate in and out on a regular basis, meaning that interested individuals will want to look into what they can expect ahead of time. This way, they can anticipate the changes so that they can adjust their shopping patterns as needed to continue optimizing their collection of rewards points. Otherwise, they could end up suffering when they make purchases based on outdated assumptions. Likewise, it should be noted that some credit cards can have higher-than-normal bonuses for rewards categories that see less use under normal circumstances, which can present interested individuals with certain opportunities. For instance, someone who knows that they make frequent purchases from stores falling under those rewards categories should seek out said credit cards for the benefits that they offer. Moreover, if they have such rewards categories, they should remember to make use of them when the chance comes up because it can be very easy to miss out on such opportunities by just doing things as normal.
Summed up, the stated strategy for collecting more rewards points by using gift cards is one more reminder than it pays to know exactly what benefits come with a credit card. After all, said knowledge is what enables the card-holders to take advantage of those benefits, thus providing them with more value for their credit card costs than otherwise possible.