News & Tips

With all the hustle and bustle of daily life, especially during the holidays, it’s easy to overlook the potential of your credit cards’ rewards. From buying gifts to family trips, using your credit cards strategically can lead to a treasure trove of rewards. Every swipe of your card is an opportunity to benefit from those expenses (and possibly even treat yourself at some point!). This article will give you a step-by-step plan to maximize your credit card rewards. 

Step 1: Explore the rewards programs of your credit cards.

Before you can get the most out of credit card rewards, the first step is to know the ins and outs of the rewards programs of your current cards. In most cases, credit cards offer opportunities for you to earn points or cash back for making purchases that fall in certain spending categories (gas, groceries, etc.) or at specific retailers. 

If you’re not sure where to find the rewards program information, it’s usually available in your card’s portal on a website or in the app. Be sure to take a look at how you can redeem the rewards, what you can redeem them for, and any other rules you should keep in mind. 

• Points program: Currently with Space Coast Credit Union (SCCU)’s Visa Signature®, you can earn points on every purchase⁴³. Then, you can redeem the points for experiences, gift cards, fuel, and more. Learn more here.  
• Cash back program: With SCCU’s Visa® Platinum, you can earn 2% on streaming services, 1.5% at gas stations and EV charging stations, and 1% on all other purchases³³! Learn more here.  

Try to match the card’s rewards program with your spending habits. Not sure if you should open another card or not? Learn more about the ideal amount of credit cards to have here.

Step 2: Check out your digital wallet’s rewards.

Digital wallets, such as Apple Pay® and Google Wallet, offer a convenient and secure way to make purchases with your credit card. (SCCU members can add their cards to their digital wallet through Manage Cards in Mobile Banking.) You may be able to tap into exclusive rewards and promotions with your digital wallet, such as bonus points or discounts for using them at certain stores or on specific products. Score! Learn more about how to unleash more digital wallet benefits here.

Step 3: Plan your budget with rewards in mind.

While you may be tempted to go on a shopping spree to earn more rewards (happens to the best of us), it’s wise to examine your spending habits and recurring expenses. Sometimes credit cards offer limited-time promotions, such as during the holidays, so make a note of expected purchases during that time (flights, gifts, décor, etc.). Then, match the best credit cards to use for those expenses to earn more rewards! 

While finding opportunities to maximize your rewards is the goal, staying within your monthly budget and overall financial health should be a top priority. Learn more about how to make a budget with this handy guide. 

Keep in mind that revolving balances accumulate interest and can outweigh the rewards you’re earning, so paying off the entire balance in full every month gives you the best chance at maximizing rewards. Watch out for any fees that could offset the rewards you’re earning as well. 

Step 4: Time credit card purchases to maximize rewards.

Now that you have a better idea of what you’re going to purchase and where to shop to earn more rewards, it’s all about the when! Mark your calendar or set reminders for any limited-time promotions. 

Time is of the essence when it comes to maximizing your chances of earning extra rewards for purchases you’re already planning to make. Also, keep an eye out if your credit cards rotate out purchase categories/retailers for rewards, which may happen quarterly.

Be sure to keep your credit utilization ratio—available credit you’re using divided by the total credit limit of all revolving credit accounts—under 30%, which is better for your credit score. Learn more with our “Beginner’s Guide to a Good Credit Score.”

Step 5: Ring in the rewards!

Every credit card’s redemption offerings will vary, but you may be able to redeem rewards for cash back, statement credits, travel reservations, merchandise, live concerts or sports events, gift cards, and so much more. Your goals for what you’d like to do with your credit card rewards may look very different than for someone else. Whether you’d like to redeem rewards for next year’s holiday gifts or travel experiences, they can certainly help ease some financial burden. 

Explore the Travel Perks and Benefits of Your Credit Cards

In addition to cash back or points, most credit cards offer benefits that could help you save more money and give you peace of mind. For example, you may be able to take advantage of rental car or travel insurance, warranties, roadside assistance, etc. 

Take a look at the fraud protection features as well. At SCCU, our credit cards offer Visa® Zero Liability Protection¹⁴ and free 2Way Text Fraud Alerts. Plus, SCCU members can turn cards on or off if they’re lost or stolen, set dollar amount a location restrictions, and so much more with Manage Cards in Online & Mobile Banking.

Make Earning More Rewarding at SCCU

SCCU is the third largest credit union in Florida, serving over 30 counties with more than 60 branches. Anyone who lives or works in these counties or has a relative at SCCU can become a member with a $5 deposit in a Share Savings account. If you’re considering getting a credit card, check out credit cards at SCCU, where they have no annual fees, no balance transfer fees, and no cash advance fees. We also offer low variable rates. Learn more about our credit cards here. 

Ready to start earning rewards? Apply for a credit card at SCCU today!