Tricks to Get the Most Out of Loyalty Schemes
Loyalty schemes are absolutely everywhere these days! From store cards to air miles to hotel vouchers and more it seems every one is willing to offer you rewards for using their service. But how easy is it to get the most out of the schemes and what tricks and tips are there for using the schemes to your total advantage?
Loyalty schemes are only worth it if you actually make a saving. Often you can think you are making a saving because of the points you are earning but when you consider how much you have actually paid you are not really any better off.
Maximise The Points You GetWhen it comes to collecting points you need to make sure you maximise the points you are collecting. You may always get your card out when you make a purchase but how often do you take notice of vouchers and double and treble points offers. In store there will be plenty of offers that you are missing out on. For example if you usually buy one brand of products check to see if there are any offers on any of the other products.
Sign up to the free in-store magazine. The magazine will include plenty of vouchers which will give you the chance to increase the amount of points you earn on each product. Always make the most of the offers available and you can save yourself a fortune.
Work Out Whether it’s Actually a SavingYou may make the mistake when using a loyalty points card of thinking you are making a saving when actually you are not. For example if you buy a product in one store where you can use your card when that product may in fact be cheaper in another store. Work out the saving you can make on the product by the amount of points you’ll gain and if it still does not make the product as cheap as it is in the other store then make sure you buy it there. There is no point being in a loyalty scheme that actually costs you more than not being in it!
Don’t be Blinded By Rewards on Credit CardsWith credit card cash back and reward schemes you can often get blinded by the rewards on offer and not realise you are actually doing your finances more harm than good by using the card. It’s all very good getting rewards and cash back but if you are getting in trouble by spending more than you intend on your card then you could actually be doing more harm than good.
Loyalty schemes are a great way of saving money so make sure you make the most of them and work out how to make the best savings but you should also be careful you are not being taken for a fool by trying to collect loyalty points and not noticing you are actually spending more than you should and not making any savings at all.