The Smart Shopper’s Guide to Tracking Credit Card Rewards

Credit cards allow you to accumulate points and rewards whenever you make payments for services or purchases. The points or rewards you earn can be exchanged for cash or used to obtain discounted prices on select products and services. Credit card companies inform cardholders about these benefits through various communication channels. People tend to lose track of their rewards because they either forget about them or do not have enough time to monitor them before they disappear.

A person must understand how to track their credit card points and discount offers. Users of credit cards should follow these guidelines to protect their rewards from expiring.

Regularly Review Your Credit Card Statements

Your monthly statement will show how many credit card points you have accumulated. The document contains a complete record of your financial activities and accumulated reward points. You need to record the credit card reward points that you earn each month. The application allows you to track your reward points expiry dates, which enables you to use your points before they expire.

Expiry Date Of Credit Card Points

Your credit card reward points will start to accumulate in your account once you earn them from your credit card usage. The card determines the validity of the points. The rewards on some cards have an expiry date, but other cards have different expiry dates for their rewards. Most credit cards come with an expiry date that usually lasts between 18 and 36 months. The system determines point expiration by starting from the moment when your points appear in your account. You have to use your reward points before the expiry date because they will become invalid after that time.

Annual Spending Milestone

Most card companies provide spending milestone rewards on their credit cards if you cross a defined spending limit. You need to track your credit card spending because it determines how many reward points you will receive. You can use your credit card for the next purchase if you owe a small balance on your card, because this will help you reach the spending target and earn additional reward points.

Maximise Benefits Before They Expire

The reward points do not expire at the same time. The points will disappear over time. You should use your reward points regularly because they will expire if you do not use them. People tend to continue using their credit cards without realising that their accumulated reward points will eventually lose their value. The first reward points you accumulate will be the first ones used when you use your points regularly. You will be able to use your reward points efficiently through this method.

Use Tracking Apps

Some mobile applications enable users to connect multiple credit cards to track reward points' expiration dates. The feature proves helpful when you need to manage multiple credit cards at the same time. Such apps usually require your credit card details to track the reward points, so you should select them carefully after verifying the authenticity of such apps. People who use their credit cards for all their purchases can benefit from the rewards that credit cards provide.

Your rewards, however, will only be meaningful if you pay your credit card bills on time. If you max out your limit and start accruing interest, the value of your rewards quickly diminishes. Always aim to pay your bills in full each month—not only will this protect the value of your rewards, but it will also boost your credit score, helping you qualify for better cards and premium benefits.