Sharing Daily Discoveries About Personal Finance And Business Topics

Holding Out To Redeem Your Points For More

Today a person was telling me that she had about $10 worth of credit that she could get if she cashed in her reward points right now as she has to buy something at the store. The thing is too that the reward point structure for this store was kind of interesting as if she waits a little longer she could get almost $25 worth of credit instead.

Mathematically, think of it like you can spend $100 to get $5 worth of credit or keep spending until $200 to get $15 worth of credit. For the most part I personally treat bonuses and rewards as just that…. a bonus. Therefore, I never think of it as like a coupon where you want to use it right away necessarily. That makes it easier to hold out for the deals that are clearly a better value.

Come to think of it, I think I should start using up my points for one of my cards now that I switched it to a cash back option instead. I literally have never claimed a reward ever since I got the credit card. Can probably get something really good.

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