Cash in credit-card rewards to help with holiday spending
Do you still have a long holiday gift list but find yourself running short on gift-giving funds?
Your credit cards may help you to stretch your budget. No, I don’t mean adding more credit-card debt that could take six months or more to pay off. Instead, as you look for ways to save this year, you should take a close look at the reward points that you might have earned.
Throughout the year, many consumers have ignored their rewards points with the intent of using them for some major purchase. Now may be the time, says Bill Hardekopf, chief executive of LowCards.com and author of The Credit Card Guidebook.
"If you have a reward card, you may have unused points piling up. Redeem these for gift cards or merchandise," he said.
In addition, Hardekopf says that shoppers should also gather unused gift cards and airline miles for savings.
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