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Ever been confused about how to check your credit card point balance? Maybe you didn’t even know you were accumulating points in the first place!
The number one way to get the most out of credit card rewards is to know how they work.
We sat down with Akshay Choudhary, Personal Banking Advisor with Cambrian, to learn about how to get the most out of credit card rewards.
Signing up for a credit card is a great time to get freebies! Look for offers that you can put to good use.
“Every financial institution offers incentives to attract you,” says Akshay, “so be sure to check them out.”
Check out our Special Offers for any current offers on a Cambrian Collabria Mastercard®!
“My suggestion is to check your monthly statement,” says Akshay, “It shows how many points you’ve earned. Redeem them monthly or every two months as a statement credit to pay off part of your balance. It might not cover everything, but it could pay for a tank or two of gas.1 If you pay your balance on time, you avoid being charged interest,2 which means you’re basically using free money for 21 days.”
“Your needs will determine whether an annual fee makes sense for you,” says Akshay.
Some cards with annual fees have benefits that cards without fees don’t offer, so don’t skip checking out cards with fees before looking into their features.
Note: Sometimes a credit card application might take income and other factors into consideration, so you may not always qualify for every card.
If you spend a lot on groceries, focus on a card that gets you points for dollars spent at the grocery store.1 If you prioritize travel, select a card with better travel rewards, like hotel and flight costs.*
Akshay generally recommends Collabria Mastercard®, offered through Cambrian.
“Some providers only give points for transactions over $100,” says Akshay. “Most of my day-to-day bills are usually in the range of $70 to $80, so I wouldn’t earn anything. Most Cambrian cards give points for every dollar spent.”
Browse our credit card selection here. Use Collabria’s Credit Card Selector tool to help you figure out which card could suit your needs!
It’s important to find a credit card that suits your lifestyle.
“Make the credit card work for you, rather than you working for the credit card,” says Akshay.
You can redeem points for travel, purchases, flights, hotel reservations, and more.*
“Even if points only cover part of your flight, why not use them?” says Akshay. “Plus, booking with your card could add perks like trip cancellation coverage.”3
“If you’re unsure or confused about choosing a credit card, meet with an advisor at any Cambrian location,” says Akshay. “We’re happy to assist and guide you.”
Book a meeting today!
*Terms and conditions apply. Visit https://reward-headquarters.com/groupCollabriaNational/home for more details.
1Reward points are earned on net purchases only. Any cash-like transactions including cash advances, balance transfers, and interest charges, fees, payments, credit or debit adjustments and any amount other than purchases that may be charged to your account with your card do not qualify for points. For more information visit collabriacreditcards.ca/rewards.
2The interest rates are in effect from the date the credit card is approved. For more information, please reference your cardholder agreement or visit online http://www.collabriacreditcards.ca/cardholder-agreement.
3Insurance coverage is underwritten by Desjardins Financial Security Life Assurance Company. Details of insurance coverage, including number of days of coverage, definitions, benefits, limitations and exclusions are in the Travel Insurance Contract. Please visit collabriacreditcards.ca/insurance for complete details. Insurance coverage is subject to change.
®Mastercard is a registered trademark of Mastercard International Incorporated. The Collabria Mastercard is issued by Collabria Financial Services Inc. pursuant to a license from Mastercard International Incorporated.
Collabria Financial Services Inc. (“Collabria”) is an independent entity from your credit union with no ownership interest in the other. If you choose to obtain Collabria credit card services through a referral from your credit union, it will receive compensation from Collabria.
We would be happy to discuss your unique situation with you.
Our goal is to make complex topics like this one, simple.
