How to Get Free Money When Using a Credit Card

Use Visa or MasterCard Rewards to Receive Free Products & Services

Oct 14, 2008

What would it be like if credit card companies paid the vacation and utility bills of customers? With the rewards programs now available, some are already doing this.

The list of credit card rewards programs available today cover almost every desire. Cards are available for free nights at hotels or purchases at a technology store. To get the most from this credit card feature, it is important to think carefully about how the rewards will be used.

Cash Back or Discount

Some credit cards will give two percent cash back or more depending on the amount or type of purchase. This reward program works best for those who want an immediate payback for using the card. Some cards will only offer the cash back for specific types of purchases like gas or groceries, so read the fine print carefully.

Make sure they spell out exactly when and how the cash will be paid. Some will make it available immediately as a reduction in the monthly bill. Others will expect the customer to build up the cash reward to a certain level like $50.00 before redemption is possible.

Airline or Hotel

For frequent travelers or for those who like to travel, one of these cards can help to secure a free vacation or business trip. They normally increase the rewards given if the card is used at their business. So spending $100 at the grocery might earn 100 points, but spending $100 at the hotel affiliated with the card might earn up to 500 points.

If a greater choice of travel options is desired, avoid getting a card that is tied to a specific airline or hotel. Some banks offer cards that give points that are usable for any kind of travel with any company. Read the fine print for important details like how quickly those points will expire if not used. In many cases, the points could be used for smaller usable items like travel bags or magazine subscriptions.

Charity

Rewards that benefit a popular charity can often be set up to provide an automated mechanism for giving. The recipient of the reward can be almost any institution from a university to a hunger relief fund. Once again, understanding how often the rewards will be sent and if there are limitations on the minimum amounts given are important.

The best way to choose which card or cards to use is to compare their options side by side. A number of web-sites allow this kind of examination. An Internet search engine lookup of "best credit cards" would provide a list of some of them. Some banks will allow the conversion of existing cards to a new reward program. Regardless of whether the rewards come from an old or new card, proper planning will help anyone to get the most out of their credit card purchases.

The copyright of the article How to Get Free Money When Using a Credit Card in Consumer Education is owned by Neil Tucker. Permission to republish How to Get Free Money When Using a Credit Card in print or online must be granted by the author in writing.