Most people today have moved on to other modes of paying money like credit cards. While credit cards have managed to become one of the primary modes of payment many people often find themselves stuck under credit card debt issues. This is not because they are spending more, but because they are not spending the right way.
A penny saved is a penny earned. This famous quote by Benjamin Franklin certainly tells us the importance of saving money. Generally, when we think of saving money we focus on how we need to cut down impulsive buying patterns and focus on what's necessary for our routine life. However, is that the only way we can save money?
Most people today have moved on to other modes of paying money like credit cards. While credit cards have managed to become one of the primary modes of payment many people often find themselves stuck under credit card debt issues. This is not because they are spending more, but because they are not spending the right way.
As per a new survey by Bankrate.com, more than 30% of American credit card holders never use or redeem their credit card rewards. One of the reasons why they don’t redeem their rewards is because they don’t know about the rewards they have accumulated over the years. The survey indicates that the probability of redeeming the rewards is higher when the customers are reminded about redeeming their rewards.
On the other hand, some people do redeem their rewards but prefer to wait until they have gathered more points to help them cash out the best way. Hence, it requires them to plan and wait for the right time to help them make the most of their reward points.
If you are travelling frequently you can make use of credit card miles that would allow you to get the right discounts and offers when you travel to different places. While many reward programs with a credit card and airline companies seem pretty straightforward they can be confusing for sure.
You need to have a better understanding of how you can plan your travel trips. If you are redeeming a reward you must know how you can plan the trip in a way to redeem enough points that would cover the trip expenditure. Plus, different cards have different rewards. So, if you’re using multiple credit cards or airline miles you need to have clarity on what card you need to use.
All this can be quite overwhelming and confusing. However, now with the help of smartphone apps, you can make it easier. With apps like Card Curator, you don’t have to worry about not using your rewards. You can install it on your smartphone and feed in the relevant information and that makes your job easier. The proprietary algorithm of the app helps you know what credit card you should use to earn maximum rewards on the things you buy daily and also for your frequent travel trips.
This certainly means more miles and more shopping without increasing your spending. You can use this additional free money on things that you want to buy to satisfy your urges.
Using your rewards a.k.a. free money is a great way to provide yourself with that extra financial buffer that you need when you want to shop without increasing your monthly budget. However, you must also know that you redeem these rewards before they expire.
Using these travel hacking apps would be a great way to ensure that you don’t have to keep tabs on what rewards you can use how and when. If you love to travel and make use of the airline miles using the Card Curator app would offer you recommendations on what credit cards offer the best travel rewards. This means that you know exactly what credit cards and airline miles you need to use to travel for free.
With the help of these apps, you now have the liberty to focus on your personal and professional goals and commitments while the app takes care of your travel plans and goals that can be done by redeeming various credit card and airline miles rewards. It also saves your time as you don’t have to research or plan on how to redeem those reward points.
If you are a credit card user or have an airline miles program rewards you need to focus on how you can cash in the rewards because these rewards don’t gain value over time. Hence, you need to look for better ways to redeem these points in time regularly to help you save more.
Main photo by Jason Leung on Unsplash
