How To Get Rewards Points On Your Credit Card Faster

For many people, rewards points are a key influencer when they are deciding which credit card to apply for. There are various schemes out there in different categories, such as air miles, frequent flyer, cashback and retail rewards, but they all have one thing in common: if you are not spending on your credit card then you are not earning rewards points.

There are several steps you can take to increase the amount of points you earn on your rewards credit card:

Spend, spend, spend:

This point should be prefaced by the warning that you should never spend to such an extent that you create a debt you cannot pay off. This is how people start getting into debt difficulties, and such a situation can completely colour how they lives their lives. Spending on unnecessary items purely to accumulate points is foolish if you wind up paying interest because you have been unable to completely clear your debt at month-end. With that out of the way, let’s look at ways in which your spending can count towards rewards points.

Switch your everyday spending

Making any purchase of goods or services from a retailer or company will earn you rewards points. This means that you should be able to add utility bills to your credit card and earn points from those. In fact, any regular spending you make in cash that could be covered by your credit card will accumulate points, so switching these to plastic will boost your points total. Just make sure you set aside the cash you would have spent to cover your credit card balance at the end of the month.

Use only one credit card

Make sure you use only your rewards credit card to make purchases, and if you have several cards that all have rewards schemes, use the one that offers you the best value for your points, and the best choice of rewards. However, remember that you must be careful that you do not entirely neglect any other credit cards you may possess if you wish to keep those accounts open. Credit card providers can unilaterally decide to cancel your account if it has seen no activity for a while. Even the odd $5 purchase will serve to keep it active.

Check the value of your rewards points

As mentioned above, it is vital that you ascertain the true value of your rewards points when it comes to redemption. The dollars-to-points ratio can only make sense if you also know the points-to-rewards ratio.

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Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0