Credit Cards Points

I started using a credit card when I was in high school. My parents thought it'd be a great way for me to start learning responsibility. And I must say, I've done pretty well so far. I find that instead of walking around with cash, I use my credit card for just about everything, even if it's just for a coffee at Wawa. I don't, however, find myself spending more just to accumulate points. I know that just because I don't actually see the money leaving my bank, it is being spent and I am very aware of what I have in there. It is fun though when I do reach the limit where I can cash in for a gift from the credit card company, like a $50 gift card to Blockbuster or my favorite store.

I do use a credit card with points and have put large purchases on it for the points and to collect the interest on my bank account for an additional month.  I do pay the credit card off each month without fail so I do not get charged interest.  I do collect the points and get store cards with it.  I will be ordering my store cards soon to buy school clothes with.  The kids get more clothes that they like and I don't pay for it.  Like I said, pay the card off each month and there is no interest. 

I pay for everything possible with my credit cards to build up cash back points. I use the points to pay down the balance on the account and pay the full balance off every month. I never pay finance charges.

I use a rewards card that allows you to choose cash back, gift cards, or discounts on merchandise. I use my card for all of my groceries, gas and drug store purchases because I get double points for those three things. I pay my balance in full every month so that I am not paying interest.

Rewards cards are a great way to get some benefits back from your credit card company. Some people are afraid of rewards cards because they think there is some catch to it or that it doesn't work the way they say it will. Not true! You can get cash back, discounts on merchandise, travel rewards and other deals. Cash back cards are best, of course. Rewards cards work best for you if you don't carry a balance. They sometimes have higher interest rates than other cards, so the rewards aren't worth it if you're paying a lot in interest each month. Also, remember that the rewards usually have an expiration date. Mark your calendar a month ahead of the expiration date so that you don't lose those points.

With gas prices as high as they are right now, companies are offering cards with gas rewards, which is great! Points for airline miles are good if you are a frequent traveler, just watch the expiration date carefully. There are lots of rewards cards to choose from. You just have to be smart about how you use them!

We use a credit card for virtually every purchase we make during the month (except those that ad a fee, such as taxes, tuition, etc.) but we pay off the entire bill each month.  MBNA, from Bank of America, allows use of points for any airline, so we accumulate enough for several flights each year (about 30,000 points representing $30,000 in charges).  Because we don't carry a balance, I don't pay attention to the interest rate but I think it's reasonable, based on our good credit rating.

I personally don't use credit cards, so it's hard for me to answer your question.  Some people will use their reward points for airline trips or vacations, while others convert their reward points to cash back.  (If you use the cash back option, take that cash back and apply it to your bill.  Interest is calculated on the daily balance, so this will bring it down.)

I will give you a heads up on those rewards cards--the credit card company doesn't pay for those rewards!  You do--check the interest rate on those cards; generally they are higher than the non reward cards.  The best thing to do is pay off your card in full each month so you have no interest and can still use your reward points; then you know the card company is paying for your rewards, not you!

I buy the same amount.  I generally will pay some of my regular monthly bills such as Cable, phone or internet, to rack up points.  In turn the points are used to purchase things I would normally spend money to buy.  I also pay the full balance on my card every month so I don't pay a cent in interest.

I mostly trade them in for gift cards. Then I either use them or give them to people who I know could use them.Thats the best way to make use of the points you have earned.