A recent Creditcard.com report reveals that 23% of reward cardholders have not redeemed any rewards over the past year, leaving significant value on the table. Cardless Co-founder and president Michael Spelfogel joins Wealth to provide advice on maximizing credit card rewards.
Spelfogel emphasizes that credit card points are essentially depreciating assets, urging consumers to spend them "as quickly as possible." He highlights that every purchase presents "an opportunity" to earn rewards, whether through cashback, points, miles, or other incentives.
"The best strategy I recommend is a diversified one," Spelfogel tells Yahoo Finance. By maintaining multiple cards, consumers can optimize their reward potential, strategically choosing which card to use for different types of purchases.
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
