Make the Most of Your Visa Rewards Points

There are a plethora of credit cards out there—a whole rainbow of colors. It can be hard to choose the right one. But, with the sheer scale of cards offering rewards points, the question is not really “should I get a rewards credit card?” but “what kind of rewards credit card should I get?”

What is Visa^® rewards?
Visa rewards is a perk that comes with many credit cards allowing you to earn Visa rewards points on everyday purchases. Use your card on gas, grocery and utility purchases to accumulate points for travel rebates, gift cards, event tickets, experiences, cash back and more.

How do I earn the most points?
The answer is quite simple: find a rewards credit card that aligns with your interests, then put all of your qualifying purchases on that card to earn as many Visa rewards points as you can. Keep in mind, some rewards credit cards limit the types of transactions that earn points. Often, these specialized categories change based on the card. Make sure you know what types of transactions will earn rewards points on which cards.

For the biggest (and easiest) bang for your buck, look for credit cards that let you earn points on all purchases.

WARNING: This strategy helps if you use your card for regular purchases only. Don’t go out of your way to purchase items outside of your usual budget to rack up rewards points—this will end up costing you more than the points are worth.

How do I use my Visa rewards points?
Use your Visa rewards points any way you want! One of the most popular options is for travel. Get rebates on airfare, hotel stays and rental cars.

Another popular option is cash back. The cash back you earn on your balance can be applied to your statement or used toward other purchases.

Finally redeem your points for gift cards, experiences, concert tickets or other items. It’s all about picking the credit card that aligns with your interests and your already-established spending habits.

Bear in mind that, while rewards points don’t typically expire, they can depreciate over time. In that sense, they are a “use-it-or-lose-it” bonus. For instance, say you’ve got your eye on an experience that costs 2,000 points. It takes you two years to accumulate enough rewards points. When you go to purchase the experience, you see that it now costs 2,500 points. While your points didn’t expire, they did depreciate over the two years. If you accumulate points slowly, you may be better served redeeming your points as you earn them and pay for the rest of the experience in cash.

If you’re ready to get started with a rewards credit card, now is a great time. Mountain America Credit Union has great credit card options and a whole bunch of exciting and cool things to get with your rewards points.