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Credit Card Points

How Do You Spend Your Credit Card Points?

Reader birdsflyinghigh wants to know how Savvy readers spend their credit card points. This question was posted in the How Do You Save group:

So I use my credit card and always pay it off each month, so I never carry a balance. I use it since it rewards me with points and while I could easily just use my bank cards, I feel at least with my credit card I get a little back. Initially I was cashing in my rewards for gift cards, one year I bought nearly all of my gifts with gifts cards from my credit card. But I also noticed with these gift cards, I would end up spending more money at the retailer. Not the best for a budget, of course! With a little more research, I realized for the same amount of points my credit card company would credit cash towards my balance. So rather than spending a little more money with those gift cards, I now have the cash rewards applied to my balance. Much better for the budget! I started to wonder how do others use their credit cards rewards?

To read about or spill similar savvy revelations, post in my How Do You Save group.

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Join The Conversation
Spectra Spectra 6 years
We always get a rebate check from our rewards card every month. We put it in savings.
MartiniLush MartiniLush 6 years
I hoard my points all year, and then we use them to go on an annual vacation!
scorpstar77 scorpstar77 6 years
My rewards card just started doing the thing where you can use your rewards toward your balance. I'm not sure if I'll do it or not - we can also use the rewards for travel, and we want to go on a big big trip to Italy for our 10-year wedding anniversary (which is 5 years from now), so I'm kind of hoarding points as a way to force myself to pay for the plane tickets. Of course we're saving real money in a savings account too, but somehow it helps to know we may not have to save as much if we can get the airfare from our rewards.
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