credit cards

6 ways to spoil your cash-back rewards

Letting points expire
Letting points expire

If you like to hoard your cash-back rewards for a big redemption someday in the future, you may want to reconsider your strategy. Those rewards may expire, depending on your card's fine print, and the point of having a cash-back card becomes moot.

Nineteen of the cash-back rewards credit cards in Bankrate's survey, or nearly a third, come with an expiration period on rewards. That period ranges from three to five years, depending on the card.

To avoid losing free cash, Ulzheimer recommends making cash-back rewards redemption an annual event. For example, cash in right before the holidays to help with the shopping load. Or, give yourself a birthday present each year with your cash-back rewards.

"You don't want to let your cash-back balance get so obnoxiously high that if you do forget and your rewards expire," he says, "then you'll really kick yourself."


Editorial Disclaimer: The editorial content is not provided or commissioned by the credit card issuers. Opinions expressed here are author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers.

Show Bankrate's community sharing policy
          Connect with us
Product Rate Change Last week
Balance Transfer Cards 16.33%  0.07 16.26%
Cash Back Cards 16.59%  0.10 16.69%
Low Interest Cards 11.60%  0.32 11.28%
Credit cards on a table

Get advice for managing credit cards, building your credit history and improving your credit score. Delivered weekly.


Credit Card Blog

Mitch Strohm

Will card fraud increase at the pump?

Fraudsters may be taking advantage of the lack of security at pay-at-the-pump card readers.  ... Read more

Partner Center

Connect with us