Rewards points are commonly one of the biggest reasons people choose a credit card, and the keenest rewards card users can earn hundreds of thousands of points in a single year. The eight habits of most successful point hackers are:
Spend with credit cards to boost point earnings
Be a member of at least two rewards programs
Use flybuys and airline partner programs
Have a credit card strategy to reduce interest and maximise points
Research new credit card offers
Pay for an annual fee
Earn at least 0.75 points per dollar spent
Aim for at least 1c per point when converting points
What Are Reward Points? Reward points are points which a user can collect following each purchase that they make with their credit card. As it usually goes, higher value purchases will earn you more points than smaller value purchases. Try to look around, major department stores and shops should normally office similar programs. Best of all, these programs are typically free to join. Dont wait, try to sign on up yourself!
The smart financial decision is to use your store rewards promptly. Saving $20 on a purchase today is better than saving $20 on a purchase a year from now. After you've hit the minimum redemption amount, apply your store rewards towards your next purchase. You will be able to save a lot of money by taking advantage of reward points. However, remember not to just buy at full price, looking for sale and promotions to double up savings!
Loyalty discounts also called patronage discounts are discounts offered to repeat customers to encourage larger purchases. Loyalty discounts give incentives on price or extra benefit or discounted rates for customers who are loyal to the brand.