How to Avoid Losing Rewards Points

Rewards points are offered with many credit cards. If you are not careful, you could potentially lose the rewards points to which you are entitled. Here are a few things to keep in mind when trying to avoid losing your rewards points.

Automatic Payments

Many times, if you make a late payment, you are not going to be able to keep your rewards points. This can happen even if you are only one day late on your credit card payment. In order to avoid this problem, you need to sign up for automatic bill pay. Your payment can be automatically deducted from your bank account every month in order to make sure that you make your payment on time. This will help you hang onto those rewards points that you have earned.

Frequent Use

You may also have to use your card a certain number of times in order to keep the points. Every card is going to be different when it comes to these standards. You need to check the credit card terms in order to determine how frequently you have to use your card to keep the points. If you have restrictions on this, you need to make sure that you make the appropriate number of purchases in order to keep your rewards points.

Sweeping Points

Something else that you may be able to do is sweep the points to another account. You could open another credit card account with the same company and transfer the points over to that new account.

Gifting Points to Others

Some credit card companies might also allow you to turn points over to a friend or family member. This is going to allow you to transfer the available point balance that you have to someone else that is a customer with the same company. Not every credit card company is going to allow you to do this, but some will.

Donating

Something else that you can do with your credit card rewards points is to donate them to charity. Many credit card companies have preselected charities to which you can donate your points. For every point that you donate, a certain amount of money is going to be donated to the charity of your choice. You will typically be able to choose from a number of different charities that have been selected by the credit card company. This will allow you to make a difference in the lives of individuals that need it with your credit card rewards points.

Do Not Wait

Many people wait an extended time before they cash in their rewards points. If you want to make sure that you do not lose them, you need to cash them in quickly. Sometimes, they will expire, and you will no longer be able to use them. Instead of trying to keep them for an extended period, take advantage of them soon.

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