5 Ways To Maximize Your Cash Back Rewards

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5 Ways To Maximize Your
Cash Back Rewards
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I'm always amazed by stories of people who travel
the world for free. They've mastered the art of
credit card rewards and use points to visit
exotic locations. 
It took me some time to remember just what we put
on the card to generate so much cash back. Some
of the rewards were earned on unique purchases as
you'll see below. But the majority of the rewards
came from taking a little effort to put every
purchase we can on rewards credit cards.
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Here's how we did it.
1. Pick the right card
The first step is to pick the right cash back
card for everyday purchases. My basic rule of
thumb is that you should have a card that pays at
least 1.5 on every purchase (1 is the industry
standard).
2. Pick the right specialty card
In addition to our everyday card, we use a second
card for travel and restaurant purchases. The key
here is to find a card that pays more than 2 in
one or two categories where you spend a lot of
money.
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3. Pay monthly bills with your credit card
These bills include the following
Cell phone
Internet TV
Subscriptions (e.g., Netflix, Hulu Plus)
Utilities
Car lease
Health insurance
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4. Use the best card for everyday purchases
For everyday purchases, we charge everything to
one of the two cards. We've also made sure that
our everyday card is the default selection on
Amazon and other online shopping portals. We've
started using Amazon more and more for everyday
purchases.
5. Use credit for big purchases
It's the big purchases that have really helped us
reap significant rewards. The big one for us is
our children's college education. We put their
tuition, room and board, and books on our cash
back credit card. By paying upfront we get a
discount from the school, and we earn 2 cash
back.
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