How to Use Reward Points: Keeping Things Organized

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Reward points are a great way to save a lot of money. From traveling on the cheap to taking care of entertainment costs, there’s a lot to take advantage of in these types of programs. Unfortunately, many people don’t sign up for these types of credit cards because they don’t know how to use rewards points or how to maximize their savings. Here are a couple of organizational tips to help you get started.

Read All the Detailed Information and Take Notes

It can be overwhelming at the start of signing up for reward points. Each company has their own set of policies when it comes to earning and redeeming points. Set aside some time to read through all that fine print and take notes on the important information. Be sure to find out exactly how points are earned, when they expire, how they can be redeemed and any important travel restrictions that may be included.

Keep Records of All of the Points Obtained

After learning how the program works, it’s time to keep track of all the points earned. Make a separate log for each of the companies offering reward points. Each month, check the balance to ensure that all records are correct. If something doesn’t look right, it helps to be able to make the adjustments right away. It may help to put a points goal beside each company’s information, allowing you to learn just how close you are to getting that airline ticket or hotel stay.

Write Down All Info When It’s Time to Redeem

When the time comes to redeem, make sure to take more notes. Document the redemption details, including the confirmation numbers. If points are redeemed over the phone, write down the time and date of the call, as well as the name of the person you were working with. This can offer some security should anything go wrong. It’s a great idea to keep the details of each company, the running tally of points, and the redemption details all together to help maximize the benefits of the program. Don’t be afraid to check online or ask questions about the programs if something is confusing.