1. Diversity is key
At the end of the day, it is important to know what kind of reward each card offers.
Spreading your expenditure across various credit cards ensures you get the best bang for your buck.
For example, if you’re looking to chalk up miles – save the big ticket items for a miles card, if you’re huge on dining or online shopping – look for cashback cards with the best rebates.
If you have a family and groceries or petrol take up a significant chunk of your expenditure, get a card that rewards you for everyday purchases and discounts at petrol stations.
It helps to map out your monthly expenditure, and see where most of your spending is concentrated before applying for suitable credit cards.
Trust us, it’ll pay off when you’re enjoying that business class seat on your next 15-hour plane ride to Europe!
2. Offer to pay first
At the end of the day, we know that banks reward big spenders.
If you’re looking to maximise rewards, it’s better to rake in the big-ticket transactions first.
Out for dinner with a group of friends? Guess it won’t hurt to foot the bill first (just make sure they pay you back!).
3. Add a supplementary cardholder to your existing credit card
For those of you with spouses and family members, perhaps consider adding them as supplementary cardholders (instead of applying for another credit card altogether).
This way their transactions can also be stacked or counted as part of the overall expenditure!
I don’t know about you but that definitely sounds like a win-win situation to me. The bank’s happy, you are happy, and everyone wins!
Sign up for rewards or loyalty programmes
Apart from optimising your spend habits, joining a rewards or loyalty programme enables you to stack rewards on top of each other – for example earning additional cashback on top of your existing purchases.
Apps like Shopee and Grab have their virtual currency in the form of coins or points you accumulate – to ultimately gain some sort of reward i.e. cashback, or discount off your next purchase.
All this is only made possible when you continue to spend more. Other hot favourites like Shopback and Fave reel you in with the idea of cashback or discounted deals on your favourite merchants.
In short, there are tons of options for you to consider. Map out your expenses before deciding what works best for you. Remember, there is no perfect way to go about doing this.
Bottom line is: if you’re going to spend anyway, you might as well get rewarded for it, right?