Ways to Maximize Cashback in 2021

 The year 2020 impacted many travel plans, shopping, and even investment/financial activities in Stillwater bank and trustAfter having an 'off' financial year, it's time to focus on getting some cashback in your pocket. Minnesota bank and trust highlight that a penny earned from a cashback card, in the end, becomes a penny saved for your financial future!

Tips to Maximize Your Cash Back Earnings in 2021

1. Check your spending pattern

Take a look at your spending pattern of the month before switching your credit card or apply for a new one from a bank in Stillwater. Categorize your top spendings. See if you spend enough to cover your credit card annual fees. If not, the card is not the best option for you.

2. Find cards with a bonus cashback offer on the top spending

After you understand your spending habit, pick a card that matches accordingly. For example - If the majority of your monthly spending goes to the grocery, ask the Stillwater bank and trust for a card that gets you 6% cashback on spending at U.S. supermarkets.

3. Adjust spending on your current cashback cards

If you use cashback cards in your wallet with only 1% cashback compared to another card that gives 3% for the same purchase, adjust your spending habits appropriately.

4. Don't focus on one credit card for all your cashback

If one credit card gives you higher cashback on spending at U.S. supermarkets, keep another one for wallets to make transactions and earn 1% cashback.

5. Pick a cashback card with a solid sign-up offer.

There are different types of credit cards available with various Minnesota banks and trusts. Go with the one that gives you a Welcome bonus offer (at least $300 cash back on the spending of $3,000) in the first six months of membership.

You can also check out for a card that pays a $200 cash bonus on $500 spend within three months of opening an account with a bank in Stillwater.

6. Use shopping portals and cashback apps.

Nowadays, when you purchase and shop online in your favorite stores using your cashback card, it can earn you rewards too. Additionally, cashback sites like Ibotta, Rakuten (formerly Ebates), and Dosh give you a percentage of your spending back. It helps you get extra money back other than the earnings of your credit card.

7. Use cashback rewards wisely.

People mostly use their cashback rewards to offset their monthly spending, like statement credits. You can use it to pay yourself forward, like saving up for a big purchase.

8. Look out for card-linked offers from your Stillwater bank and trust

Always check with your bank in Stillwater when it gives additional rolling bonus offers on your credit card. For example - In tax season, some may offer 10 % extra cashback on Turbo Tax purchases. It's a simple way to maximize cashback on tax returns.

Conclusion

Do your homework by gathering information on cashback cards from various Minnesota banks and trusts. Use the card often and wisely to maximize your cashback in 2021.

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