Companies allow cardholders to redeem rewards points for airline miles, gift cards and merchandise from a variety of stores, according to CreditCards.com. Some credit card firms also enable customers to obtain cash back rewards or use their points to pay for gas.Continue Reading
Some credit card providers allow their customers to make online purchases at participating retailers using all or part of their reward points, explains Discover. As of 2015, many cardholders can claim gift cards at low price points, such as $20, $25 or $30, eliminating the need to accumulate large amounts of points to enjoy benefits. Another possible option when redeeming reward points involves donating them to charity.
Individuals who aim to manage their income better should pick a card that provides points for basic expenses such as groceries, recommends CreditCards.com. An airline miles rewards card is ideal for people who travel frequently. A card that enables customers to earn points, cash back or a combination of both is also a wise choice.
Instead of using different cards, cardholders can maximize rewards by using a single account for most purchases, suggests CreditCards.com. It is essential for cardholders to learn the expiration date of reward points by reading the credit card agreement or visiting the provider's website. Reward points typically expire after 12 to 18 months, but some rewards last as long as two years.Learn more about Credit & Lending