Redeem your reward points carefully
Redeeming your reward points can be quite overwhelming and you will need to review carefully the fine print (retailer as well as card holder). You can acquire The Home Depot gift card at a discounted rate from The Home Depot. However, Wells Fargo does not pay the entire $50 to The Home Depot on the gift cards that are given to its customers. Since this gift card is a single-destination gift card, The Home Depot is aware that it will gain from anyone who uses the gift card to redeem points. It has been found through their research there are more chances of spending over $50 if customers take their gift cards to The Home Depot.
A significant amount of money is wasted each year as shoppers either lose the card or forget to use it. Sometimes they end up using part of the value of the card and then forget about it for many years. The Home Depot has already received the money for the gift card and that is lying safely in their bank accounts and earning interest. Gift cards are a favorite among retailers, as they know that most shoppers will not use the full value of the card and hence it makes sense to offer these as part of rewards programs at a discounted rate.
However, Visa and MasterCard can be redeemed for its full value and there is no loss. According to the research it is the most used and clients do gets its full value.
Latest Credit Card Rewards News
Capital One cardholders have a great opportunity to get cash for miles earned with the Venture Rewards or the VentureOne Rewards cards. The advertising says: “Just pick up and go.” And in fact, Venture travel rewards cards make it easy to earn unlimited miles and redeem for any recent travel purchase.
The inaugural J.D. Power Credit Card Satisfaction Study found that when it comes to choosing a credit card, it’s all about rewards. But just offering rewards isn’t enough: cardholders have to understand how to redeem them, as well.
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If you’re a frequent Whole Foods shopper and an Amazon Prime member, there’s now another reason to apply for an Amazon Rewards Visa Card, if you don’t yet have one. Following the acquisition of Whole Foods by the retail giant, Amazon is offering Prime members who have an Amazon Rewards Visa Card 5% off all Whole Food Market purchases.
Sometimes it’s hard to remember to redeem your credit card rewards: an astounding percentage of cash back rewards are never used, probably because cardholders didn’t realize they even had them, or didn’t know how to redeem them.