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You’ve got one or more credit cards which offer rewards points, frequent flyer miles, or cash back programs. But it seems that you never have enough points to get what you want. Here are a few good strategies for getting the most out of your credit cards’ rewards programs.
Most rewards programs give you a point, mile, or penny cash back credit for every dollar spent on the card. But there are some cards that provide a better exchange rate for purchases in specific categories (gas, restaurants, etc.). And sometimes, cards will have promotional periods during which you can get double or triple points for your charges at certain businesses.
Many times, you can get a gift card worth more than the raw value of your cash back rewards if you choose a specific retailer (for example, a $25 Bed Bath and Beyond gift card for just $20 in cash back rewards).
You may have small amounts of points or miles on a few different cards. Consider transferring them all onto a single card so you can redeem them for a round-trip airline ticket.