Platinum reward plans through your Credit Union or bank can be very beneficial. These type of plans are associated with your credit cards. Some of these plans do have an annual fee and if they do the cost usually isn't very significant (check with your institution to see the cost or if there is even a cost).
The way we use this program is with our everyday expenditures such as groceries, gas, clothes, baby expenses, bills, school expenses, etc. We acquire points (for our institutions program) by getting a point for every dolar we spend. Keep in mind that we don't go into any credit card debt just to simply get points. We keep a close eye on what we are spending and make sure we have the money to pay it off before we spend it. By doing this we slowly but surely acquire points with every purchase we make. It's also convenient because these programs often have special promotions such as double or even triple point periods. These special promotions double or triple with each purchase.
Since we have been on our platinum rewards plan (4 years) we have acquired enough points to get 2 plane tickets to Virginia, a $350 crib, a car seat, and a bike trailer. It's nice to be able to get something back just from our everyday spending.
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