When it comes to maximizing the cash back on a credit card there are a lot of ways that you can get quite a sizable cash back reward. It is really just all about how you use your cards.
Get Multiple Cards
If people are trying to maximize their cash back from credit cards the first thing that they will have to do is get multiple cards. Every card is not going to give them the best cash back that they could receive in a certain category. There are cards that are going to offer 2% while others may offer as much as 5%. Typically the cards that are going to offer more than 2% are the ones that are designed for a specific category. People that have gas cards for a certain gas station, for example, will typically have a card that gives a higher cash back reward, but it is only for this one select category.
Keep Up With the Changes in Categories
Consumers that are serious about maximizing their returns will notice that it is easier when they pay attention to the categories and when they change. There are a lot of credit cards that have categories that offer more of a cash-back reward by season. People may find that they can get as much as 3% to 5% on certain categories like grocery stores but it may only be for summer months. There may also be categories for entertainment or department stores but this may only be from September to November. People that are trying to maximize their cash back rewards will have to pay attention to this in order to reap the benefits.
Be Mindful of Holiday Rewards
Consumers that are using credit cards should always be mindful of the holidays. There’s always going to be a chance to get more if credit cards are utilized during the holidays. This is when some of the Cash Back Rewards are doubled.
Use Credit Cards Instead of Debit Cards and Pay Full Balance
People that are trying to maximize cash back rewards should always take the time to pay the credit card in full. So many people will overlook this, but it makes no sense to get cash back rewards if you are paying interest on the card that has been utilized. It is much better to use the credit card instead of the debit card to get the cash rewards. Once the statement comes out you should simply pay the credit card balance in full. That way you get the chance to get a mini loan for a month that you can pay back and earn cash back rewards on this.
Compare Cards and Go With the Ones That Have Double Cash Back
At the end of the day a person can utilize credit cards continuously, but they can still find that they have not maximized their potential to get cash back rewards if they have not compared credit cards. Sometimes people are not earning what they could earn because they just have not paid attention to what is available.
Consumers will actually be disappointed to find out that they have not received the type of cash back rewards that they were expecting simply because they did not compare credit cards before they started making purchases.