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4 lessons on maximizing cash back from someone who gives it away
Learn how to get the most out of your rewards cards with someone who maximizes their cash back so they can donate it to their community.
CIBC
Jan 05 2021
2 minute watch
Sponsored by CIBC
When should you choose credit over debit? Are you getting the most out of your purchases? What’s a multiplier? When it comes to getting the most bang when you spend bucks, Jolie Tardos — who maximizes her cash-back rewards to donate to charity — has a few lessons on how to use your credit card to benefit yourself and those around you.
Lesson 1: Make credit your primary card
As we move further and further away from using cash in our daily lives, we’re using our cards more often. Whether it’s tapping at the store or shopping online, we’re reaching for a card to make a purchase. So why not reach for the card that gives you something back every time you use it? Whether it’s monthly bills, groceries, gas — anything — you could earn money when you spend money. By choosing the card that gives you something back, you’re getting more out of the things you’re already buying.
Lesson 2: Only use one card
Once you select a credit card with rewards that make sense for you, try to stick to that card and that card only. Like Jolie said, having too many credit cards can be overwhelming and hard to keep track of. Using one card and paying it off as soon as possible will help you keep track of your spending, build your credit score and maximize the rewards you get.
Lesson 3: Take advantage of multipliers
Another great way to maximize your cash back that often goes overlooked by many cardholders is to seek out and take advantage of multipliers. CIBC offers cash back on things like gas and groceries. Getting to know the benefits of your card and cash-back rates means you can make the most of your everyday expenses and maximize your rewards.
Lesson 4: Giving back with your cash back
If you’re maximizing your cash back simply to have a little extra money in your pocket, that’s great. And if, like Jolie, you want to put extra money in the pockets of others, that’s great, too. She tracks the cash back she’s earned and sets that amount aside in her chequing account to donate to her local food bank. You never know how big a difference a little cash back can make.
Sign up for the CIBC Dividend card and start maximizing your rewards, today.