Take Advantage of Reward Points, But Be Careful

If you need to make a purchase anyway (such as weekly groceries), using a payment option that gives you some form of reward points or loyalty program makes sense.

For example, if every time you use your credit card, you can get points towards seeing a movie at a theater for free and you see a lot of movies you could save a lot of money. Several times a year you and your spouse and kids can go to the movies for free, refreshments and all, covered by the reward points.

Of course you must ensure that you are not shopping at a store that costs more just so you can earn reward points.

And don’t fall into the trap of adding to your credit card debt just to get reward points, because if you don’t pay your credit card in full each month you will end up paying more in interest than you saved with the reward points.

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