Tracking Rewards You've Earned
Lots of folks sign up for rewards programs associated with credit cards and retailers. But they’re only valuable if 1) you use them and 2) the overall amount of money you spend on merchandise and rewards is less than you would pay outside the program. (More on point #2 another time …)
It isn’t uncommon for many people to miss out on the value of their programs by failing to keep up with their points and special offers. You defeat the purpose of incentive-based cards if you don’t make use of the benefits. Here are three ways to make sure your rewards programs really pay off.
First, check your monthly statements. It’s kind of obvious, but mailings are the best way to become aware of special offers and limited time discounts. Review each insert and decide if it’s an offer you’ll use. If no, pitch immediately. If yes, keep it in a centralized location where you can refer to it easily.
Second, go online before making a big purchase. In addition to checking your point totals for possible redemption, this is your best opportunity to uncover Internet-only deals and recent offers that can save you money.
Finally, consider using a website to keep track of points for you. Points.com has a free service that allows you to monitor all your programs in one place. For a nominal fee, you can also swap your points with other people through their GPX service. If a lot of your consumer benefits are tied up in frequent flier and other travel-oriented loyalty programs, pay MileTracker.com a visit. This site works with over 100 loyalty programs. Enter your info and they can handle the rest.