How to Score More Credit Card Rewards in 2023

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More rewards means more for you to enjoy. 

Although credit cards tend to get a bad rap, as long as you pay your bills on time and in full every month, they can actually be a helpful tool. Not only can they help you build credit, but they can also put extra money in your pocket.

It’s common for credit cards to offer reward programs that give you some sort of benefit for the purchases you’re making. In some cases, your rewards might come in the form of air miles. In other cases, they might come in the form of points you can redeem for gift cards.

But either way, your goal should be to snag the maximum amount of rewards you’re eligible for. And these tricks could help you ramp up your rewards balance in the new year.

1. Take advantage of bonus cash back

Many credit cards offer 1% cash back on most purchases, but will then give you 2%, 3%, or even 4% cash back on specific purchase categories, like gas and groceries. Make sure you’re well-versed in the details of your various credit cards’ rewards programs so you can capitalize on bonus reward points or cash back by using the right cards in the right places.

2. Pay attention to revolving reward categories

It’s common for credit cards to have revolving reward categories that change on a quarterly basis. You might, for example, be eligible for extra cash back or reward points at hardware stores during the first quarter of the year and then extra points at restaurants during the second quarter of the year. Pay attention to those different bonus categories and put them on your calendar so you know which cards to swipe at what point during the year.

3. Chase a sign-up bonus at the right time

Many credit card companies will give you a lump sum of reward points or cash back as a new cardmember. All you have to do is meet a specific spending threshold in a certain period of time — usually within three months of opening your new card. If you time your credit card applications strategically, you might manage to take advantage of those sign-up bonuses and earn added rewards or cash.

So, let’s say you’re planning a vacation in August. Applying for a new credit card with a sign-up bonus in July could be a good bet. That way, as you rack up charges for hotel stays, meals on the go, and entertainment, all of those extra purchases will count toward the spending requirement needed to score your bonus. If you apply at a time when you’re not spending more money than usual, you might struggle to meet the bonus requirements — or, worse yet, push yourself to spend money needlessly to get your sign-up bonus.

Credit card rewards are a wonderful perk — one you should try to make the most of in the new year. These tips could be your ticket to extra rewards and the many awesome things they can buy you.

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