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You should always remember that not all rewards cards are created equal. So how do credit card points really work? For most rewards credit cards, each dollar of spend earns one rewards point, but it can be more or less – a different card might provide one rewards point for every $1.25 spent on the card, even one from the same provider.

As an example, let’s take a look at two American Express rewards cards:

One card earns one Amex rewards point for every eligible $ spent

Another earns two Amex rewards points for every eligible $ spent

Bear in mind that it’s more likely that a card with a greater points-per-dollar ratio will carry a higher annual fee and a higher interest rate.

Creating a budget helps you to identify common pitfalls like overspending and stay on track to meet your financial goals.

  • Calculate your take-home pay.
  • List your expenses.
  • Categorise your expenses.
  • Find a budget planner.
  • Choose a budgeting method.
  • Review your budget.
  • Create your savings plan.
  • Lock away your savings.
  • Automate your savings.
  • Be disciplined.
  • Leverage micro-investments.

It’s possible to receive great rewards just by using your credit card for everyday shopping. Reward credit cards work just like any other credit cards but include an incentive where you earn points for every dollar you spend. These cards can generally range from 0.5 to 2.5 points per dollar, so it’s important to weigh up your reward card options to get the most value.

There are a variety of credit card rewards programs you can join, some including: Membership Rewards, Qantas Frequent Flyer, Velocity Frequent Flyer, Woolworths Rewards

Through these programs, you can spend your reward points on numerous goods and services. To help you get the most out of these points, we‘ve compiled a list of products and experiences you can cash in on.

Rewarding yourself for victories, big and small, will make a world of difference! Even a small reward is a great motivator – maybe it's a coffee break, a walk around the block or a mini-vacation

With a little planning, you can amplify your usual spending to earn points and rewards, enabling you to live a more rewarding life. But these rewards vary greatly between financial institutions, so take the time to do the research and make sure you’re getting the best rewards on the market.

  • 1. Be engaged
  • 2. Use your card
  • 3. Keep up to date on offers
  • 4. Know your spending patterns
  • 5. Extra perks
  • 6. Decide what value means to you
  • 7. Consider your savings goals
  • 8. Look for simple language
  • 9. Pay cards off in full