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While accumulating substantial rewards through regular credit card usage can take a considerable amount of time—often months or years—sign-up bonuses can quickly yield $300 or more in cash rewards or enough points for a round-trip flight in just a few months. All you typically need to do is apply for a rewards credit card, get it approved, and fulfill a minimum spending requirement (usually between $1,000 and $4,000) within a set timeframe, typically three months.
However, there are numerous situations in which securing a new credit card sign-up bonus might not be feasible for you. You may be preparing to purchase a property and wish to avoid additional inquiries on your credit report, or perhaps your credit score has recently declined, making it difficult to qualify for premier rewards cards.
No matter the reasons preventing you from earning a sign-up bonus at this moment, you can still find many ways to accumulate rewards with your existing cards and through alternative methods.
1. Utilize the best card for specific purchases
If you possess multiple rewards credit cards featuring different earning structures, it is vital to use the most advantageous card for each transaction.
Various cards may provide bonus points for distinct spending categories. For example, one card might give more points for dining, while another offers bonuses on grocery purchases. Maximizing your rewards entails ensuring you use the card that yields the highest points for each expense you incur. (See also: 3 Ways Your Credit Card Rewards Can Make You Wealthy)
2. Identify additional expenses you can charge to a credit card
Review your monthly spending and bills to ensure you’re taking full advantage of credit card payments wherever possible.
While charging groceries, gas, and everyday expenses is straightforward, consider whether you can use your credit card for higher monthly costs. Are daycare expenses, quarterly tax payments, health insurance premiums, or utility bills chargeable to a credit card?
The more of your monthly expenses you can handle with credit, the more rewards you can accumulate over time. Just ensure that you’re not incurring fees for paying bills with a credit card, as these could negate the value of the rewards earned.
3. Make use of shopping portals and dining incentives
Many airlines provide shopping portals such as American AAdvantage, Delta SkyMiles, and Southwest Rapid Rewards, allowing you to earn extra miles for purchases made at participating retailers. Simply “click through” the portal of your choice before making a purchase. In these portals, you might earn an additional 1-3 miles for each dollar spent, and sometimes even up to 10 miles or more on purchases from niche retailers or during special promotions.
Additionally, several airline loyalty programs feature dining initiatives that enable you to earn more rewards while dining at selected restaurants in your locality. Some programs even offer initial bonuses for dining out a specified number of times within a month.
4. Leverage Amex Offers or Chase Offers
American Express and Chase offer special “offers” that allow you to earn extra rewards or cash back when making qualifying purchases within a designated timeframe. You need to log into your account to add these offers to your card before shopping, and comply with all stipulated terms and conditions to benefit.
It’s worth noting that not all Amex or Chase Offers are geared towards traditional shopping. Some may provide cash back for spending a certain amount with hotels, airlines, or for various other services—like buying a bed or hiring a pet sitter.
Moreover, both programs offer added value beyond just the rewards. While you can receive a discount through an offer, you also accumulate rewards for each dollar spent using your credit card.
5. Enroll in free loyalty programs
Lastly, don’t overlook the fact that most loyalty programs allow free sign-ups, and they can provide avenues for accruing rewards even without a credit card. Joining airline loyalty programs allows you to earn miles when flying, independent of how your airfare is paid. Likewise, hotel loyalty programs such as Marriott Bonvoy and Hilton Honors enable you to collect points for expenses incurred at those hotels.
For those who may not travel frequently, consider cash back programs that reward regular purchases. The Rakuten portal, for instance, can offer up to 40% cash back on purchases made with select retailers like Amazon and Walmart.
Similar to other shopping portals, cash back portals also enable the opportunity to stack rewards. You can receive cash back through a portal like Rakuten or Dosh on your purchases while simultaneously earning rewards on the spending through a credit card that earns points.
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