Earning rewards based on your credit card spending can be thrilling. After all, who doesn’t love to get more bang for their buck?
Used strategically, “rewards are free money,” says Ted Rossman, senior industry analyst for CreditCards.com and Bankrate. For instance, Rossman earned more than $2,300 in cash back last year by paying for everyday expenses such as food, gas and streaming services for his family of four using three cash back credit cards: American Express Blue Cash Preferred ($95 annual fee, waived the first year), Chase Freedom Flex and Wells Fargo Active Cash. “That’s meaningful,” he says. “Credit card rewards are an inflation buster.”
