Studies have shown that the type of spending on credit cards has been changing. While credit cards were once used for luxury purchases to allow people to pay a little each month rather than saving up enough cash to make the purchases - like vacations and big ticket items - more recently, credit cards are being used to pay for necessities. People now regularly swipe their cards to pay for groceries, put gas in their cars, and even to pay their other bills.
If this is how you are using your credit cards, you’ll want to use a rewards card to further maximize that spending. If you have a card that offers rewards or cash back every time you put gas in your car, for example, your gas purchases can help fund your grocery shopping - and it won’t cost you any more to do so.
The trick is to choose a rewards card that matches your lifestyle and how you spend money. Read the fine print of the rewards program to find out how much you have to spend and on what or from what retailer in order to get the rewards; and then how many rewards points or dollars you must earn before you can redeem.
Carefully selecting a rewards program can save you money in the long run.
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