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Here are the best ways to use credit card points

A Creditcards.com expert explains how to get the best bang for you buck.

GREENSBORO, N.C. — Pretty much everything costs more these days because of inflation. Plane tickets went up 29% in 2022. Fuel prices rose 42%. Eggs shot up a staggering 60%.

Financial experts said one way to help offset these costs is by making the most of your credit card rewards. Creditcards.com found 23% of folks aren't using any of their rewards at all.

To help make sure you're getting the most bang for your buck, Creditcards.com's Tedd Rossman says you might have to do a little homework.

“You can typically find out for yourself by logging into the app or the card company's website,” he said. “If you're really confused you might ask customer service too. What do I have? Is it cashback? Is it travel points? How do I use it? if you are confused and you want to keep it really simple, maybe just get a 2% no annual fee cash back card. It really doesn't get any easier than that. Something like the City Double Cash or Wells Fargo Active Cash. That's a solid straightforward return.”

Once you find the best card for you, consider putting all of your day-to-day purchases on it to rack up as many rewards as possible. Yet, there's a big catch:

“The key here is to pay your bills in full and avoid interest. 54% of credit card holders pay their bill every month,” Rossman said. “These are the people that are best suited for a reward. You don't want to pay 20% interest just to get 1 or 2 or even 5 or 6% cash back or even airline miles.”

If you are carrying a balance on your cards right now, he says it's better to consider a 0% balance transfer card instead of one that has rewards.

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