(BPT) - Amid a period of high inflation nationwide, everyone stands to gain from extra savings. Whether your aim is to reduce travel and entertainment expenses, cut down on grocery bills, or perhaps accumulate funds for a vacation, credit cards offer advantageous perks that boost the contents of your wallet. Below are five ways to take advantage of your credit card rewards:
Many co-branded credit cards today offer great cashback which can be a helpful tool to offset expensive costs. It's also useful to save the accumulated cashback over time, allowing it to grow and serve as a financial cushion or contribute toward larger financial goals like a vacation or gift.
Choosing the right cashback rewards program can help you save money and ensure your credit score stays high.
2. Save on Everyday Purchases
Cashback isn't the right fit for you? No worries, you can also save money when making everyday purchases. By choosing a credit card that offers generous rewards for grocery store or gas station purchases, you can gain points and miles, which can then be redeemed for discounts or freebies.
Strategically utilizing these reward programs allows you to turn your routine spending into an opportunity to save money.
3. Save on Travel
Often, credit cards allow you to earn 2-3x the rewards points for flight purchases, car rentals and hotel stays. Reduce your hotel expenses by utilizing a top-tier credit card and secure premium hotel rooms for any destination.
Premium cards offer helpful ways to make your airport experience seamless from check-in to baggage claim. For example, if you're often running late, some cards offer reimbursement for Global Entry or TSA PreCheck application fees. With a credit card, you can also access a number of airport lounges, making wait times a lot easier.
4. Save on Entertainment
You can leverage your credit card rewards to enhance your entertainment experiences and indulge in your favorite activities. For instance, redeeming cashback or points toward concert tickets, movie theater outings, or even streaming subscriptions provides a premium experience.
Remember waiting in line for your Taylor Swift tickets? With a credit card, you could have exclusive access to VIP events, allowing you to secure tickets to attend live shows that may otherwise be difficult to attend.
5. Store Brand Credit Cards
Finally, store brand credit cards allow shoppers to enjoy exclusive discounts, special promotions, and loyalty rewards tailored specifically to the store's products. For example, these credit cards often offer additional benefits such as extended warranties, free shipping, or flexible financing options, all of which can contribute to significant savings over time.