Key takeaways
- Use your flat-rate money again card to pay utility payments, lease, mortgage funds and different month-to-month bills with a purpose to maximize your rewards.
- Purchase by means of your issuer portal and particular money again apps to earn more money again when purchasing. Reap the benefits of issuer-specific gives at designated retailers.
- Keep away from carrying debt in your account. Curiosity on this debt can lower into your money again earnings.
- Pair your flat-rate card with one that gives extra rewards in bonus classes equivalent to eating or groceries. This will help you earn the next charge of money again in your spending.
Flat-rate money again bank cards undoubtedly have their benefits — particularly for individuals who haven’t any want to maintain monitor of rotating classes or incomes caps. With the appropriate flat-rate card, you possibly can earn 2 p.c money again (or extra) on all purchases with no annual charge. And with no bonus classes to maintain monitor of, you gained’t must surprise in case you’re utilizing your rewards card the “proper means.”
Nonetheless, there are methods to spice up rewards earned with a flat-rate money again card. For probably the most half, you’ll simply must be strategic along with your purchasing and keen to take a number of further steps.
Listed here are six methods to maximise rewards with a flat-rate money again bank card from any of the key issuers.
1. Use your card to pay payments
While you’re incomes money again rewards with a flat-rate money again bank card, you’ll inevitably make more cash again the extra you cost. That’s what makes paying for recurring bills like payments an ideal possibility. Though not all payments will earn rewards (it is determined by the kind of invoice), many will, so it is sensible to search for new payments you possibly can pay with a bank card.
For instance, with the appropriate bank card, you might be able to pay:
Simply watch out about this technique’s affect in your credit score utilization ratio — the measure of how a lot you owe in comparison with your accessible credit score. Having a excessive utilization ratio can hurt your credit score rating. Ideally, your credit score utilization ratio ought to keep below 30 p.c. So, in case your credit score restrict is $10,000, you must attempt to hold your steadiness below $3,300. Repay your balances promptly to maintain this quantity low.
2. By no means carry debt in your account
Remember that it’s unattainable to maximise the worth of your money again in case you aren’t additionally maintaining a tally of your steadiness and month-to-month fee. In any case, the excessive rates of interest bank cards cost can value you much more than you’re incomes in money again.
In case your aim is to rack up as a lot money again as doable, you actually do want to remain out of debt and keep away from carrying a steadiness. You are able to do this by solely charging purchases you possibly can afford to repay, monitoring your spending all through every billing interval and faithfully paying your whole steadiness in full and on time every month.
3. Double up with a money again app
Any time you pay for one thing on-line with a bank card, you even have the chance to earn rewards with a money again web site. For instance, Rakuten helps you to earn more money again once you click on by means of the web site earlier than you store with shops like Kohl’s, Macy’s, Nordstrom, Outdated Navy and Priceline. And bear in mind, the money again you earn with this portal is obtainable on high of the money again you earn along with your bank card.
Different money again apps and portals to take a look at embrace Dosh, Cashback Monitor and Ibotta.
Increase your rewards with a money again app
Buying on-line with a money again web site is a good way to spice up the money again you’re already incomes once you use your bank card.
4. Strive card issuer purchasing portals
Some card issuers even have their very own purchasing portals that allow you to earn more money again.
When you have the Chase Freedom Flex®* or Chase Freedom Limitless®, for instance, you possibly can click on by means of the Store by means of Chase Journey portal earlier than you store to make more money again on all of your purchases. Whereas shops within the Chase purchasing portal fluctuate, they steadily embrace choices like Walmart, Sephora, Finest Purchase and Macy’s.
In the meantime, Barclays has its personal purchasing portal often known as RewardsBoost, and Capital One has Capital One Buying.
5. Capitalize on issuer-specific gives
You may also examine for extra money again gives if in case you have a bank card from American Specific, Chase or Capital One. Every of those card issuers has a further program (Amex Presents, Chase Presents and Capital One Presents, respectively) by means of which you’ll be able to decide in to earn more money again from choose retailers.
For instance, with Capital One Presents, people with money again bank cards just like the Capital One Quicksilver Money Rewards Credit score Card or Capital One QuicksilverOne Money Rewards Credit score Card can make more cash again with specific retailers. To entry these perks, merely log in to your Capital One account and navigate to the purchasing portal. From there, click on “Save Now” to be taken to a retailer’s web site to buy and earn further rewards at try.
Money again percentages fluctuate from retailer to retailer, and there are often limits that cap how a lot more money again you possibly can earn. Both means, these particular gives are all given on high of the money again you’ll usually earn along with your bank card. They’re additionally straightforward so as to add to your card and use, so attempt to take benefit in case you can.
6. Pair with a rotating bonus class card
Lastly, you possibly can contemplate pairing your flat-rate card with a bonus class card providing further rewards. This technique could make it extra difficult to earn rewards, however it may allow you to earn the next charge of money again in your spending.
To pair playing cards with out overcomplicating your life, choose one different rewards bank card to go along with your flat-rate card. Particularly, you must choose a card that gives boosted rewards within the classes you spend probably the most in or a 5 p.c rotating bonus class card that gives heightened money again in new classes every quarter.
For instance, listed here are some playing cards to think about in case you primarily use your card to purchase on a regular basis necessities like groceries, or if you wish to prioritize eating and leisure spending classes:
The underside line
There are many causes to choose a flat-rate money again bank card. In any case, flat-rate playing cards allow you to earn a higher-than-average rewards charge on all of your purchases and payments, whereas additionally serving to you simplify your life and funds.
Whatever the card you select, there are all the time alternatives to maximise the money again you earn, even when that simply means discovering a number of extra payments you possibly can simply pay along with your rewards bank card. By clicking by means of purchasing portals, benefiting from particular card issuer gives and pairing your flat-rate card with a card with bonus classes, these methods might add as much as a whole lot of {dollars} in more money again every year.
*Details about the Chase Freedom Flex has been collected independently by Bankrate. Card particulars haven’t been reviewed or authorised by the cardboard issuer.
For Capital One merchandise listed on this web page, a number of the above advantages are supplied by Visa® or Mastercard® and will fluctuate by product. See the respective Information to Advantages for particulars, as phrases and exclusions apply.
