February 22, 2008

Saving Money with points programs

Filed under: Personal Finance — Jason @ 3:07 pm

So what other methods can you use to save yourself some money. Penny saved is a penny earned sorta thing. Well I’ve been trying out some points/loyalty programs at the places I normally shop anyway to see if they do anything. I really never wanted to go through the hassle of carrying and having to dig out the cards when I go shopping, but it really is no big deal.

So what are points programs?

It’s really very simple. You apply for membership at whatever store or offer you happen to want to take part in and they will usually give you a card right then and there. Otherwise you can apply for some on-line and it will come in the mail. You then collects ‘points’ on the card for every dollar you spend and can redeem them later for rebates or free items depending on the program.

Which point programs are the best?

While I cannot claim to have tried every program out there, I have tried a few and read up on a lot of others. Below are the top 3 that I am currently using, although I will keep trying others as they come up. Also, feel free to suggest any that you may have tried and liked. Or let us know about any that you didn’t like or feel don’t do anything.

AIR MILES

AIR MILES has been around quite a long time. Unlike the other two in this list, you can collect them for shopping at a bunch of different places from groceries to gas stations. You can redeem them for everything from trips and hotels, to gift certificates. My favorite is the $20 grocery gift certificate for 140 point.

Petro Canada - PETRO-POINTS

I just started this one, but seeing as I usually buy my gas at Petro Canada anyway I thought I might as well give it a try. There are quite a few things you can get with the points, but anytime you can get some free gas or a car wash it’s a good thing.

Shoppers drug mart - Optimum Club

This one is probably the best one out there. There are always deals that will get you a ton of extra points, sometimes you get more back in points than you actually spend. Also, there are some deals that are only offered to Optimum card holders.

Quick math breakdown: 1000 points will result in a rebate of $2.00 (75,000 points = $150 rebate). Find a product around $2.00 that can provide 1000 bonus points then essentially you can get the product for free. There are plenty of products available for under two dollars and are eligible for a bonus point coupon reward. Now obviously you don’t just get it for free, but eventually you get the money back in rewards rebates.

Again this is one I just started so I’ll let you all know how it works out after using it for awhile.

Are you Foxy? Subscribe to our Newsfeed!
These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • del.icio.us
  • Netscape
  • Reddit
  • Technorati
  • StumbleUpon

Related Posts:

  • How much money should I save?
  • Saving for your future
  • Emergency fund - want vs. need
  • 7 Comments »

    1. MyAvatars 0.2

      I try to use cards that reward with cash rebates. If you can find a card that has an extremely low interest rate AND offers a cash rebate % you’ve got a winner imo.

      Theres no point in using a more expensive card to get the rebate, one cancels the other. Likewise cars that offer free air miles are useless if you don’t buy the cheapest tickets possible to begin with… and most don’t spend the time to find those.

      Cash is universal - 2.5% cash back is nothing to sneeze at if you must use cards at all.

      Comment by Popular Wealth — February 24, 2008 @ 9:57 pm

    2. MyAvatars 0.2

      what banks offer 2.5% cash back?

      Comment by Money Merge Acc — February 25, 2008 @ 3:53 pm

    3. MyAvatars 0.2

      I was trying to save money for a long time.But as usual I failed. Thanks for your tips. keep posting.

      Comment by Expat — February 26, 2008 @ 7:46 am

    4. MyAvatars 0.2

      Nice post, I will try some of these out.

      Comment by Free Online Recipes — February 26, 2008 @ 9:05 pm

    5. MyAvatars 0.2

      I saved £75 ($150) by using an Amazon credit card for all of my purchases. That way I just got Amazon vouchers, and who doesn’t shop at Amazon?

      If you always pay your bill in full, the credit rate isn’t a factor. I’ve never seen any cards with 2.5% cash back, the maximum around is is 1%. The highest rate I’ve seen is 3% and that was ONLY for food purchases…

      Comment by NineThreeNine — March 5, 2008 @ 9:52 pm

    6. MyAvatars 0.2

      I think theres no point in using a more expensive card to get the rebate, one cancels the other. Likewise cars that offer free air miles are useless if you don’t buy the cheapest tickets possible to begin with… and most don’t spend the time to find

      Comment by Motivational posters — April 11, 2008 @ 2:01 am

    7. MyAvatars 0.2

      I think theres no point in using a more expensive card to get the rebate, one cancels the other.

      Comment by driving school worcester — April 22, 2008 @ 3:26 am

    RSS feed for comments on this post. TrackBack URI

    Leave a comment