Need retirement savings help?6 of 8Investing in your future is another way to use credit card rewards points.There are a few cards that allow users to deposit rewards points in IRAs or 529 accounts or put rewards points toward paying down their mortgages.These cards often come with restrictions -- for instance, one such card requires the cardholder to make $2,500 in purchases before points can start going to the mortgage -- so be sure to read the fine print.The Fidelity Retirement Rewards American Express Card is an example of a rewards card in which points can be deposited in a retirement account or a 529 account."It's a great card for somebody who wants to apply rewards to a goal such as college spending," says Patricia Gooding, a vice president of product management at Fidelity Investments in Boston. "You can set it and forget it." Related Articles:Credit card rewards survey3 tips for rewards cardsWhat's the best reward card?Organize credit card debtRelated Links:Minimum payment calculatorChoosing a rewards cardCard rewards disappointCredit card debt calculator advertisement
Investing in your future is another way to use credit card rewards points.
There are a few cards that allow users to deposit rewards points in IRAs or 529 accounts or put rewards points toward paying down their mortgages.
These cards often come with restrictions -- for instance, one such card requires the cardholder to make $2,500 in purchases before points can start going to the mortgage -- so be sure to read the fine print.
The Fidelity Retirement Rewards American Express Card is an example of a rewards card in which points can be deposited in a retirement account or a 529 account.
"It's a great card for somebody who wants to apply rewards to a goal such as college spending," says Patricia Gooding, a vice president of product management at Fidelity Investments in Boston. "You can set it and forget it."
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A little research could save you BIG on interest.