Most major airlines offer rewards programs travelers can use to score free flights and accommodation. And many credit cards link with these rewards programs to super-charge your points balance. 

Here’s how you can use some popular point hacks to maximise the rewards you’re getting for your spend.

The smart way to use your reward points:

Many credit card providers partner with rewards programs to offer their customers added value. You can use these points to reduce your holiday spending. 

But not all credit cards are created equal. Some credit card providers offer huge one-off sign-up bonuses. Others offer more points per dollar you spend. Some offer rewards you can redeem for flights, and others for items such as homewares and electronics. 

Got some gifts to buy? Find out if you can use your points.

Did you know the following items can be purchased via points (or for points-plus-pay):

• Apple 10th Generation iPad: 123,390 points

• Dyson V8 Vacuum: 86,780 points

Can I use my points to travel?

Yes! Here’s a small sample of destinations you can get to for 120,000 Qantas Frequent Flyer points:

• Sydney - Singapore for 2 return - 100,400 points

• Mel - Singapore for 2 return - 100,800 points

• Syd - Gold Coast for 4 return - 96,000 points

Compare Club make it easy to find out which credit card offers the best overall points deal for you here:

Cost-effective ways to gain credit card reward points:

There are two main ways point hackers use credit cards to rack up reward points. 

The first is with sign-up bonuses. Some credit cards offer huge one-off bonus points when you sign up for their card and meet their spending criteria. These large bonuses are one of the quickest ways to get your points balance off to a flying start. 

Another way to earn points is via the money you spend on your card. Credit card reward programs offer a set number of reward points for every dollar you spend on eligible purchases - but the number of points you get for your spend varies between different cards. 

Compare Club takes the hassle out of finding the best credit card for rewards to save your holiday season. Our online comparison tool is free to use, and comparing cards won’t affect your credit score. 

Special Offers for high value rewards:

From time to time, credit card providers offer special promotions to encourage people to sign up to one of their frequent flyer cards. Rest assured that we keep our ear to the ground to seize any special points offers or limited-time sign-up bonuses to will super-charge your point hack. 

Using your card for everyday expenses keeps your holiday points balance high:

Reward points are usually awarded per dollar you spend. So using your credit card to cover as many of your everyday expenses as possible really racks up your points. Consider paying for your groceries, petrol and recurring bills with your credit card to quickly build your points balance. 

Partner retailers offering extra points:

Some rewards programs partner with certain retailers, such as wine clubs or fashion outlets. These partner retailers often offer more points for your dollar spend. So it pays to know — and shop with — retailers who partner with your credit card rewards program of choice. 

Getting the best value from your hard-won points:

Just because it’s not ‘actual money’ doesn’t mean you haven’t worked to earn your points. It’s worth considering what you want or need most before splashing out on products in rewards stores. You may prefer a vacation over shopping - or not. Your points means it’s your choice.

Making the best use of your reward points comes down to being smart with your spending, paying your credit card bills on time, and factoring in the interest-free periods, interest rates and any annual fees associated with your credit card.

Deliberately over-spending just to boost your points balance will likely leave a jet-sized hole in your budget. And letting your credit card bills build up will increase the interest you pay, eating into your hard-earned holiday savings. 

Compare Club can help you find a credit card with rewards that make a difference to your budget. We compare more than 80 credit cards side by side, so you can find the right one for you and point hack with confidence.

Disclaimer

This guide is opinion only and should not be taken as financial advice. Check with a financial professional before making any decisions.