More often than not we may not be doing enough research or gathering enough information before we decide on a credit card application. Over the years, credit card knowledge has become an academic course on its own.
Sticking to Your Bank Credit Card
A lot of the times, we have a tendency to apply for a credit card which is offered by the financial institution we have an account with. For example, if we have a TD account it is most likely that we will also have a TD credit card. Due to the relationship that the financial institution has built with the client, most individuals will feel they have an obligation to make further trust with their bank by applying for their credit card.
Not Signing Up for High Sign-up Bonuses
With all the competition out there, there is always going to be great promotions for high bonuses when you sign up for credit cards. Sometimes the bonuses are as generous as throwing in enough points for a trip around the continent, but we often overlook this as having strings attached because after all, nothing in this world is free.
Not Asking For an Annual-Fee Rebate
While there are many cards out there which request an annual fee, you don’t always have to pay for it. Many financial institutions are very generous to their new members and will often waive the first year annual fee. The only thing we need to do, really, is ask for it.
Using One Credit Card Only
Sometimes convenience and simplicity is not always key. There’s always one credit card that we favour over all the rest, but we should always remember that different credit cards give different rewards based on what your purchases are. For example, some cards will earn up double the points for eating out, other cards may earn us triple for booking flights and hotels. By playing the miles game smart, we can earn the points we need in less time.
Having Your Miles Expire
It’s hard to say no to those high sign-up bonuses, but once we’ve got them, we just tend to keep them in the account….for a really long time. When we wait for those yearly vacation plans to kick in, it’s a pity to find that your miles have expired when the time comes to book. By just making a small purchase with your miles, you can keep your accounts active. This is a great toss up in return for not having all those miles in your account expire. Afterall, they’re hard earned rewards.