Some people enjoy travel rewards cards, but I prefer either cash back or points towards free groceries. I even redeem AirMiles for free gas.
I’ve written before about how I maximize my credit card rewards. The way I see it, if I am going to spend the money anyways, I might as well get something in return.
Using The PC MasterCard
My main credit card for monthly purchases is the PC MasterCard, which gives me 10 PC Points for every $1 spent. So far this year I have earned over 180,000 PC Points, which is worth $180. I redeem the points for groceries, diapers, and other baby supplies at our local Superstore.
So how did I maximize my rewards? I started by changing the way I pay my monthly bills and my regular expenses.
In the past, after I got paid I would proceed to pay bills online through my chequing account. I rarely used cash, but would use my debit card for all of our other monthly expenses like groceries, gas, clothes, and entertainment. Now I pay for everything I can with my PC MasterCard:
Automatic Monthly Payments
- Electricity and Gas
- Water and Sewer
- Cell Phone
- Cable/Satellite TV
- Auto Insurance
Regular Monthly Expenses
- Groceries, cleaning, baby supplies
How To Get Free Groceries
I end up spending around $2,000/month on my credit card, which gets me 20,000 PC Points, or $20 in free groceries each month. That doesn’t sound like a lot, but it adds up over time. Add in bonus offers for purchasing items at Superstore, and the points accumulate quickly.
I know there are other rewards cards out there that pay 2 percent cash back or higher, but I notice that most have quite a few stipulations about shopping at participating locations, etc. Plus, I don’t spend nearly as much on my credit card as some people who travel for business, and I don’t want to pay an annual fee either.
Using a credit card responsibly is a great way to put a few bucks back in your pocket by spending money that you were going to spend anyways. I don’t really care about the credit card interest rates offered since I don’t plan on paying any interest.
Which is a reminder to pay off your balance in full at the end of every month, or your rewards strategy will backfire quickly.
Do you use a credit card for all of your monthly expenses so you can get free groceries or cashback rewards?