Redeem cash back for statement credits. The CreditCards.com poll did find that consumers were more likely to redeem cash back than other reward categories, despite the fact that not enough individuals were using their rewards.
In fact, cash back or gift cards were preferred above other options by 55% of respondents who did redeem their awards. Individuals who have a large reserve of rewards might readily use their cash back to offset inflation and generally high prices.
For instance, when you redeem for cash back, you frequently receive a check in the mail that you can use to pay for things like groceries and other household expenses. Similar to redeeming for statement credits, doing so actively lowers your credit card payment and, over time, keeps more money in your pocket.
Choose a credit card with flexible rewards. If you have upcoming travel plans, getting a credit card with flexible points through a program like American Express Membership Rewards or Chase Ultimate Rewards, for instance, can also assist you against inflation.
After all, cards with flexible rewards programs allow you to convert your points into convenient options like cash back or gift cards if necessary, but you can also use them to reduce your travel expenses if you are planning a trip.
You can convert your rewards points into hotel or airline miles using credit cards that offer transferable points to earn better redemption values. You might, for instance, transfer your Chase Ultimate Rewards points to a partner like Southwest Rapid Rapid.
In fact, cash back or gift cards were preferred above other options by 55% of respondents who did redeem their awards. Individuals who have a large reserve of rewards might readily use their cash back to offset inflation and generally high prices.
For instance, when you redeem for cash back, you frequently receive a check in the mail that you can use to pay for things like groceries and other household expenses. Similar to redeeming for statement credits, doing so actively lowers your credit card payment and, over time, keeps more money in your pocket.
Choose a credit card with flexible rewards. If you have upcoming travel plans, getting a credit card with flexible points through a program like American Express Membership Rewards or Chase Ultimate Rewards, for instance, can also assist you against inflation.
After all, cards with flexible rewards programs allow you to convert your points into convenient options like cash back or gift cards if necessary, but you can also use them to reduce your travel expenses if you are planning a trip.
You can convert your rewards points into hotel or airline miles using credit cards that offer transferable points to earn better redemption values. You might, for instance, transfer your Chase Ultimate Rewards points to a partner like Southwest Rapid Rapid.
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Credit Suisse