Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

How to manage my credit card rewards

Should you spend or save your rewards?

Managing your credit card rewards may seem complicated, especially if you have multiple credit cards. Still, it’s an exciting issue to tackle because it means you potentially have a lot of rewards to gain. Here are some ways to simplify your rewards management.

Should you save up rewards?

If you can earn enough points to redeem for a reward while keeping your credit card active, there’s no doubt you should save up your rewards.

But if you have a credit card you rarely use — say only for traveling abroad — saving up for rewards may be a poor choice. That’s because if unused, your card issuer may close your account for inactivity and you will lose all your points.

How to manage my rewards

If you find yourself hoarding credit card rewards, here’s how to manage them better:

  • Don’t miss out on deals. If you happen to find a deal you like, use your points. Waiting on better deals can result in hoarding even more rewards that may eventually expire.
  • Save up your rewards. As mentioned before, saving up your rewards for that one trip to Europe or Hawaii can be worth it if you can manage to earn enough before your rewards expire.
  • Invest your rewards. Cashback credit cards are ideal to get new investment cash. Instead of spending your cash rewards, consider investing it in a savings account.
  • Opt-in for automatic redemption. Some card providers allow you to automatically redeem your rewards as soon as you reach a certain threshold. This can keep your mind off your rewards.

Compare rewards credit cards

If you already own a rewards credit card, you may want to consider pairing it with another to get the most of your spending. For example, if you now earn flat rewards on all purchases, you can get a credit card with accelerated rewards on gas or dining. Another example of an optimal combination of cards is the Chase trifecta, which is pairing three Chase cards that each serve distinct purposes.

Name Product Welcome offer Rewards Annual fee Filter values
Blue Cash Preferred® Card from American Express
Up to $350: 20% back on purchases in the first 6 months for up to $200 back, plus $150 statement credit after you spend $3,000 in the first 6 months
6% on select US streaming services, 3% on transit and US gas stations, 6% at US supermarkets on up to $6,000 annually, then 1% after that and on all other purchases (redeem as statement credit)
$0 intro annual fee for the first year ($95 thereafter)
Earn up to $350. In your first 6 months, you can earn a $150 statement credit when you spend $3,000, and earn 20% back on Amazon purchases made with your card, up to $200 total. Having 6 months to earn a welcome offer is a rare benefit as most cards give you only 3. Terms apply, see rates & fees
Blue Cash Everyday® Card from American Express
Up to $250: 20% back on purchases in the first 6 months for up to $150 back, plus $100 statement credit after spending $2,000 within the first 6 months
3% at US supermarkets on up to $6,000 per year (then 1%), 2% at US gas stations and select US department stores and 1% on all other purchases (redeem as statement credit)
Earn up to $250. You'll get 20% back on purchases in the first six months for up to $150 back, and $100 after you spend $2,000 in the first six months. This is a higher-than-average welcome offer for a card with no annual fee. Terms apply, see rates & fees
Chase Sapphire Preferred® Card
100,000 points after spending $4,000 in the first 3 months. That's $1,250 when you redeem through Chase Ultimate Rewards®
5x points on Lyft, 2x points on travel and dining and 1x points on all other purchases

Up to $1,250 signup bonus

Earn a massive signup bonus of 100,000 points with this popular travel card. That's worth up to $1,250!

Compare up to 4 providers

Back to top

Bottom line

Managing your rewards may feel like a hassle, but there are some strategies, such as automatic redemption when you reach a certain amount, investing your rewards in a savings account or using your rewards as soon as you spot a deal. Other events like the coronavirus pandemic can also throw a wrench in your redemption plans, so plan out how you’ll use your rewards in an emergency as well.

If you already own a rewards credit card, you may want to consider applying for a second card to complement your first.

Frequently asked questions

More guides on Finder

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site