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How to get $90 extra value out of your rewards card
18 May 2011
How to get $90 extra value out of your rewards card
The way you redeem your credit card rewards determines how much bang for your buck you get with the points you have saved up.
Choosing merchandise, such as breadmakers or computer games, over cash back or shopping vouchers averages out to be the most economical way to redeem rewards, according to financial research and ratings company CANSTAR CANNEX.
Aside from flight rewards, three of the most popular reward redemption choice are merchandise (specific retail goods redeemed through an online or print catalogue), shopping vouchers and cash back. However each has its own costs and benefits, some are measurable while others are less so.
“Looking at the dollar value of a reward at a particular spend level, or measuring what we call the reward return, shows that redeeming points for merchandise rather than vouchers or cash back will see you better off by over $90 if you spend $60,000 a year on your card,” CANSTAR CANNEX New Zealand National Manager Derek Bonnar said.
http://img.scoop.co.nz/media/pdfs/1105/nzcreditcardrewardsmay2011.pdf
http://img.scoop.co.nz/media/pdfs/1105/medianzcreditcardrewardsmay2011.pdf
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