Page 12 - aruba-today-20240201

A12 BUSINESS
Thursday 1 February 2024

Maximize your credit card rewards with

minimal effort

By SARA RATHNER of Nerd-
Wallet
Credit card rewards can
help you get some money
back on every dollar you
spend, but they can also
be confusing. First, there’s
deciding which card to
apply for if you don’t yet
carry a rewards card. Then,
there’s how and where
best to use it. And finally,
the good stuff: cashing in
your earned rewards.
Rewards program rules can
get intense. Points may
be worth a certain value
when redeemed for travel
but have another value if People pass through Salt Lake City International Airport
traded in for cash back. Wednesday, Jan. 11, 2023, in Salt Lake City.
Sometimes you can trans- Associated Press
fer points to airline or hotel
loyalty programs, or com- It’s enough to make any- Friends may have strong
bine them with someone one want to toss their wal- opinions about which card
else’s points. Airline miles let out a window. But with is best, but your ideal card
might be worth more for some gentle strategizing, doesn’t need to be trendy.
international travel book- maximizing rewards is pos- Think about where you
ings, but if you just want a sible. (And, yes, if what you spend money the most,
cheaper ticket for a do- want most is discounted how much effort you’re
mestic flight, your points domestic travel, go for it.) willing to put in to manage
wouldn’t be reaching their MATCH YOUR LIFESTYLE cards and rewards and
full potential. AND DESIRED LEVEL OF EF- what you’d like to redeem
FORT rewards for.
If what you want is sim-
plicity, opt for a card that
earns a high flat rate on ev-
erything. If you’re comfort-
able with some additional
complexity, select cards
that earn higher rates for
your specific spending,
such as at grocery stores,
gas stations or restaurants,
or on travel-related pur-
chases.
Cash-back cards offer the
easiest redemption op-
tions, typically a statement
credit that lowers your next
credit card bill, or per-
haps a direct deposit into
your bank account. Travel
cards offer the glamorous
promise of cheaper vaca-
tions, but using points and
miles requires some longer-
term planning.
“Try to avoid groupthink
and allowing others to in-
fluence what card is right
for you,” says Juan Ruiz,
co-founder of JetBetter,
a travel concierge and
award booking service.
“Picking the right card is
like being prescribed medi-
cation by a doctor.”q