Often times, I meet people who think that collecting points is too much of a hassle, so getting a cash back credit card makes more sense to them. Less hassle and get back straight up cash.
But then I also meet people who do not collect points and do not earn any cash back either. For a points addict, that is probably one of the most painful sentences for me to write. I do agree that earning points takes work. I’ve always advocated that the work pays off. I also mentioned that the more work you put in, the more you will be rewarded.
Getting a credit card is only one method to earn points. Having a loyalty card that is accepted at sponsor stores, such as Air Miles, Shoppers Optimum, Aeroplan, etc. is another way of earning points that does not require a credit card.
There are many generous people in the world who do donate to charities. Here’s another option for you to consider. Instead of giving straight up cash to the charity of your choice, you can donate your points instead. If you do not feel that you have any use for points, then at least do it for the charity.
For example, Air Miles and Red Cross have teamed up. We even donated a few months ago. This donation worked out perfectly because Air Miles decided to implement a 5 year expiry policy on our points, so we may not be able to earn enough points to get anything significant if we do not earn points faster enough. Instead, I would be happy to donate some of my points to a cause that I believe in.
You can even take the reverse approach and choose the charity of your choice, see which loyalty program is affiliated with that charity so that you can start earning points with that program. The work you put in to keep track of your points account is similar to volunteering for the charity.
This way, you can save your money and invest it so that you can in a better financial position. The better position you are in financially, the more you will be able to help that charity in the future. By saving your money, you may be able to retire sooner so then you can volunteer full time with the charity. Or maybe you can leave a larger donation to the charity of your choice in your Will. Being financially stable will put you in a better position to make an even bigger difference with the charity.