Credit card rewards can be very valuable, especially if you tend to charge a lot of the purchases you make. The ability to earn cash back is one big reason why I use credit cards whenever I can, and I’ve earned a substantial amount of money over the years simply by opting for a card that pays me to use it.
Because I really value the rewards that credit cards provide me, I’ve actually implemented an approach that allows me to maximize the rewards I’ve earned over time. My technique has helped me earn thousands of dollars in extra rewards, all of which I’ve deposited into investment accounts to help me build wealth.
Here’s how I’ve earned tons of extra credit card rewards
The technique I’ve used to maximize the credit card rewards I’ve earned involves making sure that I’m always using a card that is optimized to my spending patterns.
See, many people sign up for a credit card and then just stick with the status quo since they get comfortable with using it and it seems like a lot of hassle to explore other options. But I made a conscious choice not to do that, as I realized early on that my habits change over time so my card’s rewards program should change with it.
When I was younger, for example, I generally spent a lot of money on traveling and dining out because I didn’t have kids yet and those were the leisure activities that I enjoyed. But as I got older and had two children, it became more difficult to take long and expensive trips — and then COVID-19 basically put a halt to traveling and dining out for a long period. And this is just one example of many shifts in life circumstances that have occurred over time.