Yesterday in the mail, I received a notification from my credit card company that they had updated some of their terms of their rewards program. Now, the I currently have the miles rewards program, which has been totally useless to me because you need a ginormous amount of points to be able to redeem them for anything useful - or so I thought.
Now, I've been faithfully paying down my credit card balance as much as possible to become debt free. I do not use my credit card at all - I leave it open purely for the I-hope-I-never-have-to emergency. So, I decided to go onto the credit card company website to educated myself about the rewards plan that I have. I couldn't sign in but I could gather that the rewards points may be exchanged for credit, cash, or check. I called the company and ended up redeeming my points, that I'll never actually use, for a check for $75.00!
This is $75.00! Wow! Now, the only decision I have is to decide what to do with it. Do I stick it in my savings account (that is earning .20%), or do I buy three $50 savings bonds at $25 each? (The $75 is guaranteed to double to $150 in 20 years) I'm not interested in spending it - I don't need anything. Any suggestions?
I share this with you in case you have a credit card balance that is linked to a rewards program as well. Do a little research to see if you can make those points work for you. Maybe you'll get a nice little check, too!
Blessings for a great day!
--Liane
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