Loyalty Programs: Your Secret Weapon

Every time you purchase something without earning points, you are essentially throwing money away. Loyalty programs are designed to keep you coming back, but smart consumers know how to use them to their advantage to score free travel, products, and exclusive perks.

Not All Points Are Created Equal

Before signing up for every program under the sun, understand the value of a point. Airline miles and credit card flexible points are often worth more than simple store cashback. Focus your efforts on programs that offer high redemption value and flexibility.

Double Dipping Strategies

The holy grail of reward earning is double (or triple) dipping. This means earning rewards from multiple sources on a single transaction. For instance, click through an airline shopping portal to buy a laptop from a retailer (earning miles), pay with a rewards credit card (earning points), and input your retailer loyalty number (earning store credit).

Travel Hacking for Beginners

Want to fly first class for the price of economy? That's the power of travel loyalty programs. By accumulating miles through sign-up bonuses and everyday spending, you can book dream vacations for pennies on the dollar. The key is to pay off your credit card balance in full every month so you never pay interest.

Grocery & Gas Rewards

Don't overlook the humble grocery store loyalty card. Many chains offer fuel points that can save you significantly at the pump. Combine these with digital coupons loaded to your card for immediate savings at the register plus future savings on gas.

Conclusion

Loyalty programs are more than just plastic cards on your keychain. When managed correctly, they are a powerful financial tool. Start paying attention to where your money is going and ensure you are getting something back in return for every penny spent.