How to Use a Retail Reward Credit Card

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- Budget your income so you can repay your spending each month
As with any reward credit card, it's always a good idea to budget your income each month so that you can repay your retail reward credit card balance in full.

Spending freely and always repaying your retail reward credit card balance each month will keep you in good standing for racking up rewards without racking up charges in interest.

Retail reward credit cards all offer interest free periods on your purchases, this means that although you are buying stuff on credit, you'll get a number of days to repay your retail reward credit card in balance without having to pay any interest charges.

Remember though, most interest free periods only include purchases, so any cash transactions or balance transfers may be charged interest even if you clear your balance in full.

- Avoid cash transactions
Try to avoid using your retail reward credit card for cash transactions, not only will you not earn any reward points on these transactions, but they may also be subject to higher interest rates and handling fees.

We always advise using your debit card for any cash transaction that you need to make, including withdrawing cash from an ATM machine, getting 'cash back' at the supermarket, buying foreign currency or traveller's cheques and gambling transactions.

Make the most of your card...

- Double your retail reward points
Some retail reward credit cards will award you with double reward points when you spend at selected retailers and companies.

Finding out who these retailers and companies are can help you to increase your retail reward earning potential - just remember to always use your retail reward credit card when you shop with them.

- Increase your retail reward earning potential
Retail reward points will generally be earned on all your purchases, so it goes without saying the more you spend the more points you'll earn.

You can increase your retail reward earning potential by using your retail reward credit card to pay for all your everyday spending such as your weekly shopping and petrol.

If your service provider allows it, you can also increase your retail reward earnings by paying your monthly bills and direct debits with your retail reward credit card.

Although not for everyone, getting an additional card for your immediate family, like your partner can really help to increase your retail reward earnings. However, it's important to know you can trust their spending and their repayments.

Remember, with all your extra spending you'll need to budget your monthly income so that you can repay your retail reward credit card balance at the end of each month, and really benefit from the rewards you are earning.

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