Monday, August 12, 2019
(Family Features) – When using a combination of multiple rewards and savings strategies, it can be hard to keep track of where and how much you’re earning and saving at a given time.
Your bank may offer digital tools that provide assistance and resources to simplify your banking experience. For example, some digital dashboards allow cardholders to track their rewards earnings and redemptions, and discover additional benefits. Those using their bank’s application on their computer or phone can typically manage their rewards, deals and benefits across multiple rewards programs.
Keep Tabs on Your Credit Reports and Scores. A numeric representation of your credit, your credit score signifies to lenders what kind of borrower you are. Because it influences everything from mortgage and auto loan rates to credit card approvals, keeping an eye on where you stand can be important in achieving your financial goals. It’s smart to periodically check your credit score to make sure everything is accurate and know where you stand. You can check your score through the major credit bureaus, and some credit card issuers even allow you to view your score for free through online or mobile banking.
The key to keeping your finances fresh is to create a simple strategy that allows you to push toward your financial goals all year long. By consolidating your wallet, creating realistic goals and budgeting, you can set yourself up for financial success.
Earn Rewards Where You Spend Most. According to the spending analysis of more than 50 million Bank of America credit and debit cardholders, the average cardholder spent $3,174 on groceries, $2,430 on dining, $2,319 on travel and $1,627 on gas last year.
“Regardless of whether your spending priorities change frequently or remain steady, you should consider a flexible card that allows you to earn cash back across multiple categories that align with your spending patterns,” says Bank of America Credit Cards Executive Jason Gaughan.
Source: Bank of America
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