Credit Cards

Keeping Tabs on Your Credit Card Perks: A Simple How-To

Intro: Why Bother With Reward Points?

Credit cards these days do more than just let you buy stuff. They also give you rewards like points, cashback, miles, or other freebies just for using them. If you are money-wise, these rewards can really add up.

But here is the thing: a lot of us have a bunch of cards. Each one has different rules for earning, using, and when the points expire. It can get confusing quickly! So if you don’t keep up, you might miss out on perks or let points go to waste.

Keeping track isn’t just a good idea but a smart move. It helps you get the most from what you spend, pick the right card for each purchase, and make better money choices.

This guide gives you a simple look at the easiest ways to track your rewards across all your cards. We’ll also chat about how to lump them all together, keep an eye on them, and get the most bang for your buck.

 

Why Juggling Rewards From Several Cards Isn’t Easy

Keeping up with rewards from a bunch of different cards can be tough because:

First off, all rewards are not created equally. Some cards give you cashback right away. Others give you points you can only use on their site. And some let you move miles to airlines or hotels, but the rates can change a lot.

Second, reward points don’t stick around forever. Every card has its own rules. Some points last as long as you have the card, but others disappear after a bit. Store and travel cards are usually the strictest, so watch out.

Third, your reward balances are all over the place. To view them, you might have to log in to a bunch of different bank sites, airline accounts, hotel programs, and store pages. It’s annoying, and it’s easy to lose track.

Last, a reward point isn’t always worth the same. A point you use for products might be worth less than if you move it to a travel partner during a special deal. If you’re not on top of it, you could be wasting points.

 

What Makes a Good Reward Tracking System?

Before you pick tools or methods, think about what you want your tracking system to do.

The big thing is to see all your rewards in one spot. It doesn’t have to be one app, but you need a way to see the total.

It also needs to be correct and up-to-date. Your reward balances change when you buy things, get bonuses, or use points. Your system needs to keep up with it.

Plus, it has to help you keep from losing rewards. Expiration is where it gets you. A good system will tell you when points are about to expire and remind you to use them.

It should also help you make wise choices, tell you which card to use for buys, which rewards to use first, and when to move or use points to get the best deal.

 

Easy Tips for Tracking Reward Points

List All Your Rewards

First, get a handle on your rewards program by checking out what each card offers – credit cards, debit/credit cards with rewards, and store cards. When you do this, write down what kind of reward it is, how much you need to cash in, when the rewards go bad, and how to actually use them.

It’s way easier to keep a list of all your rewards programs than to try to remember them all or write them down on random papers.

Sort Your Credit Cards by What You Use Them For

You probably use each card for different stuff. Like, maybe one is for groceries and clothes, and another is just for travel, gas, restaurants, or buying things online. Sorting them this way is a simple way to keep track.

It also helps you spend smarter. When you know which card is best for each buy, you’ll earn rewards quicker.

Watch When Points Expire

You don’t want those points expiring without you knowing. Check the dates of when you earn them, not just before they disappear.

Create reminders to remind yourself. Use a calendar, to-do list, or other reminder applications online to track when you will run out of time to utilise expiring reward points. This allows you to take your time and plan your course of action before using your reward points and making hasty decisions that would result in wasted reward points.

Understand the Real Value of Your Reward Points.

A great deal of people overlook this simple idea, but it is very important. Until you know the value of your points, points are nothing more than a number in the digital world without any real meaning behind them.

 

If you know the value of each point, you can compare reward programs evenly. This helps you decide which points to earn and which to use first.

 

Tracking by Hand or With Digital Help

If you like being organised, give spreadsheets a shot.

They’re great for watching your rewards, especially if you’re into details. Tweak them how you like to watch balances, expirations, value, and how you’re putting those rewards to use.

Spreadsheets give you a clear view of what’s up. Write down when you get and spend points, and you’ll quickly see what’s working and what isn’t.

Keeping up with spreadsheets takes effort, but you’re in control.

Make Spreadsheets Easier with Automation

If you know your way around tech, you could probably get the spreadsheet to run smoothly. Some bank programs allow you to download your information, so you can just drop it into your spreadsheet. You can also set your email up to automatically grab new reward updates.

Even a little bit of automation will help save you time while still letting you stay in control of everything.

 

Reward Tracking Apps and Tools

Scope Out Your Bank’s Reward Place

Most card companies have reward sections in their apps or on their sites. These show you the most current reward info, including every buy you create.

These are reliable, but they only show you info from that company. If you have a bunch of Credit Cards, you can’t use them alone. But they’re a good place to get the info you need for your tracking system.

Use Other Reward Tracking Apps

There are apps built to track rewards from different programs. They show you all your balances in one spot and send you alerts about expirations, bonuses, and account changes.

Some even give you tips on which card to use or show you the top ways to use your points. If you have a lot of Credit Cards and programs, these tools can come in a clutch.

Before you use one, make sure it’s safe, works with all your programs, and is worth the money.

Use Mobile Wallets for Fast Info

Mobile wallets are starting to let you track rewards for the Credit Cards and programs you connect. These might not have many details, but they give you a quick look at your balances.

You can use mobile wallets for quick info while using a tracking system for everything else.

 

Smarter Tips for Combining and Maxing Out Your Rewards

Have a Reward Plan

Tracking is more helpful if you have a plan. Figure out what’s most important to you. Travel rewards? Cashback? Maybe both?

When you know what you want, you can spend on the Credit Cards that help you get there. This helps you rack up big rewards even faster.

Use Transfer Choices

A lot of programs let you move points to other programs, but the rates can change. If you move points smartly, you can get a higher value, especially when there are bonus offers.

Your tracking system should show you your current balances and potential transfer choices, so you can decide when to move points.

Use Points Based on Risk and Value

Not all points are the same. Points about to expire should be used first, even if you don’t get the best value from them. Points that can be used in many ways and don’t run out soon can be saved for more valuable options.

Be able to determine how much risk and what value will be associated with your point programs based on understanding how and when they expire.

 

Stay Organised, Check Often, and Stay Safe

Use your tracking system regularly. Make it part of your routine to look at it once a month for accuracy, and review it after a couple of months to make adjustments based on changing circumstances.

Keep a record of the following: When you earned points; When you used points; When you moved points; and When you lost points. This information will help you to keep track of how much you’re getting for what you’ve invested in point programs. If you’re managing rewards for a family or business, it allows you to make sure you are managing those reward programs effectively and to the best of your ability.

Finally, stay safe. Points in your reward account are valuable, so use robust passwords to protect your accounts and use secure tracking tools. Avoid keeping sensitive information about your reward accounts in unsecured locations.

 

What’s on the Horizon for Reward Tracking

Reward tracking will be more connected, automated, and smart. New stuff is starting to analyse your spending and make suggestions for reward plans.

As banks link their systems and loyalty programs become linked, tracking will get simpler. Computers will likely help you nail the best times to use your rewards.

 

In Short: Use Your Reward Points Like a Pro

You can think of reward points as “free” dollars for purchases; however, if you don’t pay close attention to them, you may lose out on some points. Track your points carefully, and you have a greater potential to take advantage of them.

By consolidating all your rewards into one centralised location and making use of the appropriate tools for managing your accounts, you create an extensive method for monitoring all of the information related to your rewards. This will allow you to keep track of their expiry dates, as well as how to utilise your rewards for your own benefit.

Just be crystal clear and keep at it. When you do that, reward points become more than just perks. They turn into a smart part of your money game.