How Do You Redeem Credit Card Rewards?

To redeem credit card rewards, get rewards in cash, use airline travel points, buy a gift card or save credit card points through the company, recommends Melody Warnick for CBS MoneyWatch. Contact the credit card company to get a list of eligible rewards or to redeem awards.

Websites for credit card companies such as Capital One provide log-in information to redeem rewards for customers who have credit cards. Type in the username and password associated with the card to access the rewards system, explains Capital One.

Discover suggests paying off credit card balances on time to maximize rewards. The more interest the balance has over time, the less valuable the rewards on the credit card. Discover recommends asking for bonus options on credit card plans to get the most out of rewards on the card each month.

To use credit card rewards, most card owners transfer rewards points into money, notes Warnick. Cash-back cards give customers this option. Cardholders who have travel rewards available need to check for an expiration date on the rewards, and use the travel points before they expire. Cards that offer points for store gift cards are redeemed in the store specified on the card. Warnick suggests signing up for a card that deposits money into a bank account or college fund for additional rewards options.

Whether you do it when your points are about to expire or to help out a cause you care about, the credit card reward points can be used to make a donation to a specific charity, relief groups after natural disaster or non-profit groups, states Discover. Some card providers also allow you to convert your points into a cash after a specific point, which can directly transfer to a bank account or apply to your credit card balance.