How to kick start your credit card point journey while the year is young?

Written by 
Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
Our authors
, updated on March 16th, 2021       

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Kickstart the point journey

If you are planning to maximise your reward points this year, it helps to know a few handy tips and tricks that can get you there. There are many ways in which you can kickstart or boost your reward points and these are 5 tips on how you can do this.

Get a card that comes with the perks

With so many cards that are available on the market, it is essential to find one that is suitable for the way you spend. This means comparing various features to find the one. If you are someone who loves to travel, a reward card that comes with sign-up bonuses can come in handy as you can get cards that go up to 100,000 bonus points. For shopping perks, you can consider taking a card that rewards you with a good point earn rate for every $1 spent. A card that also has a diverse way in which you can redeem points can also be useful.

Choose a car that partners with the right partners

There is no point in getting a credit card that comes with great offers that can only be used with partnered shops or airlines that you never use. Checking the cards features is vital as this can show you what is offered. Remember to also look up the terms of these features to avoid taking out a card that will be hard to meet when it comes to the spending requirements.

Assess your current card

If you already have a reward card, check if it is still carrying out the purpose of what you initially took it out for. This means looking beyond the perks of the card and looking at the fees and charges that come with it. An annual fee will always be attached to a rewards card, but it is important to look out for other fees such as the cash advance rate, foreign transaction fee, and an additional cardholder fee. Such fees can affect the cards affordability. Paying for a card that has limited features that are not worth the annual fee means that it is time to change your card.

Don’t be tempted to spend your points immediately

The sign-up bonus reward points and your ability to natural meet the spending requirements of your card can result in you collecting a sizeable amount of points. This takes time to do. Have a plan in place as to where you are planning on spending these points instead of using them as cash back all the time or at a rewards store. You can save your points to use towards a big-ticket item such as flight or putting away to use as part of reducing the amount you spend on shopping.

Family pool your points

Similar to carpooling, you can add other cardholders such as family members, spouse, or a close friend to the card to help you build points faster. Of course, this goes without saying that it is important to check if there is no additional cardholder fee that you have to pay. For example, the ANZ Frequent Flyer Black card includes a $69 for each additional cardholder.

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