News From This Week

New Discover CC Update: Earn 5% Cashback At Restaurants

Earn 5% Cashback Bonus at Restaurants and Wholesale Clubs, now to-June 30, 2023, on up to $1,500 in purchases when you activate (link to more info).

Chase launches its new credit builder card Chase Freedom Rise

Chase has introduced the Chase Freedom Rise, a new credit card designed for first-time applicants with limited or no credit history.

This is a great card for students or those with no past credit history.

The new credit card offers 1.5% cash back on all purchases & a $25 statement credit.

For Chase Southwest Holders: Earn 10 points per $1 spent for next week only:

Earn 10 points per $1 spent on Southwest Airlines purchases with your Chase Southwest Rapid Rewards Credit Card from 6/12-6/18/2023, up to $500.

Note: to be eligible, holders must register on Chase for this specific offer.

Pro Tip of the Week

Remember To Check The Fine Print On Points & Rewards Expirations

Did you know not every rewards program allows indefinite holding of points?

Some programs like Citi ThankYou Points actually expire after a set time.

Every year: this results in tons of points becoming invalid along with some very angry holders.

Points and rewards can expire for the following reasons:

1. Expiration after a certain period of inactivity: Some credit card companies will expire your points if your account has been inactive for a certain period of time, such as 12 or 18 months. Inactivity usually means not making any purchases or not earning or redeeming any points.

2. Expiration after a set time period, regardless of activity: Other companies may have a set expiration date for points, such as 24 or 36 months after they were earned, regardless of whether the account is active or not.

3. Expiration due to account closure: If you close your credit card account, you will typically lose any unredeemed points or rewards. Some companies may give you a grace period to redeem your points after closure, but many do not.

4. No expiration as long as the account is open and in good standing: Some credit card companies have no expiration dates for their points or rewards as long as the account is open and in good standing, meaning you're not behind on payments.

5. Expiration due to changes in the rewards program: Sometimes, credit card companies change their rewards programs, and points or rewards earned under the old program may expire after a certain date.

Here’s some examples from the most popular cards:

• Chase Ultimate Rewards: These rewards do not expire as long as your account is open.

• American Express Membership Rewards: These points also do not expire as long as your account is open and in good standing.

• Citi ThankYou Points: These points typically expire after 3 years, regardless of account activity.

• Wells Fargo Go Far Rewards: These rewards typically expire 5 years from the end of the quarter in which they were earned.

Remember, it's always important to read the terms and conditions of your specific credit card to understand its rewards expiration policy.

Reward Reminder of the Week

Automatic Payments: Your Best Friend in the Rewards Game

A simple yet effective strategy for ensuring maximum rewards accumulation is setting up automatic payments for your credit card bills. Here's why it's a game-changer:

1. Avoid Unwanted Interest and Fees: Failing to pay your credit card bill on time results in late fees and interest charges, which can quickly overshadow any rewards you've earned. Automatic payments ensure you never miss a payment and avoid these unnecessary costs.

2. Maintain a Healthy Credit Score: Your payment history contributes significantly to your credit score. Even one late payment can impact your score, potentially affecting your ability to get the best rewards cards in the future. With automatic payments, you maintain a consistent payment history and protect your credit score.

3. Focus on Earning, Not Paying: By automating the payment process, you can focus more of your energy on optimizing your spending and reward strategies, rather than remembering due dates.

4. Flexible Payment Options: Most card issuers allow you to choose between paying the minimum payment, the statement balance, or the current balance, providing you with flexibility while ensuring timely payments.

As a rewards enthusiast, your focus should be on earning and redeeming points—not worrying about missed payments.

So, take advantage of automatic payments and give yourself peace of mind and the freedom to concentrate on maximizing your rewards.

Community Corner

Our Answer:

Good question! The answer depends on several factors, including the type of credit card you have, the value of the rewards points when redeemed for cash versus travel, and your personal spending habits and preferences.

1. Type of Credit Card: Some credit cards are specifically geared towards travel rewards. These cards may offer a higher value for points when they are redeemed for travel expenses, such as airline tickets or hotel stays, compared to cash back.

2. Value of Points: It's important to understand the conversion rate of your points. This varies by credit card. Some cards may offer 1 cent per point for cash back but 1.5 cents per point for travel redemptions. In this case, if you travel frequently, it might make more sense to redeem your points for travel.

3. Personal Spending Habits and Preferences: If you don't travel often, it might not make sense to redeem your points for travel, even if the value is slightly higher. The utility of the rewards is also important. Cash back can be used for any purchases, while travel rewards are limited to travel-related expenses.

In summary, there's no one-size-fits-all answer to this question. It's important to evaluate your own spending habits, travel frequency, and the specific terms of your credit card rewards program to make the best decision for your situation.

Community Codes

Looking for a new credit card and want to help out a Points Paradise community member? The links below contain referral codes from the community.

Chase Sapphire Reserve (60k Signup Bonus Currently): Best all around rewards card.

• Code 2

Chase Sapphire Preferred: Flexible Rewards + Lower Annual Fee

Amex Platinum: Best Luxury Travel Rewards Card

American Express Gold: Best for Dining at Restaurants

• Code 2

• Code 3

American Express Hilton Honors Aspire: Best Overall Hotels Card

Chase Freedom Unlimited: Great overall bonuses on categories

• Code 2

Capital One Quicksilver: Best flexible Capital One Card

Chase Business Ink Preferred: Best Business Card

Capital One Venture X: Best Capital One Luxury Card

Discover It Cashback: Best Cashback Card