DO YOU SHOP WITH A CREDIT CARD? MAKE THE OCCASIONAL AIR TRIP? YOU COULD ACTUALLY BE BETTER OFF THAN YOU REALISED
AFEW MONTHS ago, I parted with two years of credit card points to
upgrade my Tata Sky subscription to HD. For free! If you use your credit
card often, keep track of your points – they’ll give you free gifts.
To get started, first pick the right card, says Shailesh Baidwan, country manager, and head of consumer cards at American Express Banking. Choose one “depending on what you want to redeem your points for – lifestyle items, airline miles, fuel, etc – and what kind of ‘earn’ the card is offering [essentially, how little you need to spend to earn one point].” Also check the extent of the card’s redemption categories, how soon points expire (later is better), and their bonus points programmes.
“Once you pick a card, consolidate all your spending on that card to add up points faster,” advises Baidwan. Use it for groceries and fuel. Shop at the places that provide bonus reward points. It saves trips to the ATM and helps accumulate points faster. And most importantly, adds Baidwan, “pay your bill in full. Otherwise, the interest charges from a single month can wipe out the benefits of any rewards.”
AFEW MONTHS ago, I parted with two years of credit card points to
upgrade my Tata Sky subscription to HD. For free! If you use your credit
card often, keep track of your points – they’ll give you free gifts.
To get started, first pick the right card, says Shailesh Baidwan, country manager, and head of consumer cards at American Express Banking. Choose one “depending on what you want to redeem your points for – lifestyle items, airline miles, fuel, etc – and what kind of ‘earn’ the card is offering [essentially, how little you need to spend to earn one point].” Also check the extent of the card’s redemption categories, how soon points expire (later is better), and their bonus points programmes.
“Once you pick a card, consolidate all your spending on that card to add up points faster,” advises Baidwan. Use it for groceries and fuel. Shop at the places that provide bonus reward points. It saves trips to the ATM and helps accumulate points faster. And most importantly, adds Baidwan, “pay your bill in full. Otherwise, the interest charges from a single month can wipe out the benefits of any rewards.”
Sometimes, signing up for a loyalty card gives you other benefits,
explains Rahul Rana, the chief operating officer of Payback, a
multibrand loyalty programme. “These include separate queues at stores,
customer lounges and free parking.”
Several stores also offer an additional small discount at a sale, send you a voucher to redeem around your birthday and go the extra mile with home delivery of goods.
Be shameless. Let friends and family carry your card when they shop so you can earn points.
And every time you take a flight, make sure you sign up for the airline’s frequent flier programme. Even if you’re not a regular flier, there’s still free stuff to be had from even one flight to the US or Europe. For example, the one round-trip to Paris I made with Etihad, netted me a free sleeping bag once I redeemed my points from just that flight. The husband, who also flew Etihad back from London one way in addition to the Paris flight, walked away with a free Zippo lighter and a Swiss army knife respectively worth about
R1,000 and R5,000. There will soon be a time when even as little as 30 to 50 points can entitle you to a redemption, promises Rana. So start amassing those points today.
Several stores also offer an additional small discount at a sale, send you a voucher to redeem around your birthday and go the extra mile with home delivery of goods.
Be shameless. Let friends and family carry your card when they shop so you can earn points.
And every time you take a flight, make sure you sign up for the airline’s frequent flier programme. Even if you’re not a regular flier, there’s still free stuff to be had from even one flight to the US or Europe. For example, the one round-trip to Paris I made with Etihad, netted me a free sleeping bag once I redeemed my points from just that flight. The husband, who also flew Etihad back from London one way in addition to the Paris flight, walked away with a free Zippo lighter and a Swiss army knife respectively worth about
R1,000 and R5,000. There will soon be a time when even as little as 30 to 50 points can entitle you to a redemption, promises Rana. So start amassing those points today.
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