Making the Most of Loyalty and Rewards Programs

Airlines aren't the only business to cash in on rewards programs and the perks of frequent purchases; hotels, gas stations and even car rental companies are joining the trends of consumer loyalty programs and offering attractive 'prizes' for any avid traveler. From free stays at your favorite hotel to reduced rates on future car rentals, you can redeem your points for a number of valuable deals, and many programs allow you to accrue points for over a year before requiring you to use them up. If you're looking for ways to maximize your travel expenses, enrolling in a rewards program can offset some of your costs and even make it easier to book future trips.

Here are some simple ways to make the most of loyalty and rewards programs:

1. Sign up for free loyalty programs at every opportunity. Don't miss out on the latest deals, promotions and special offers when a company announces free membership. Many people miss out on these opportunities if they think the latest perks program demands a fee. In many cases, you don't have to pay a penny; just provide your basic contact information such as name, address, date of birth and e-mail address and you're 'enrolled.'

2. Check your frequent flier miles regularly. If you're traveling on a regular basis and enrolled in a frequent flier program, make sure you're actually collecting those rewards points on each trip. As efficient as these programs are, there's also a large room for error; check in with your airline or travel agent after your trip to make sure the points were added to your account appropriately.

3. Read the fine print. Make sure you're using up your collected miles and points within the allotted time frame; while some companies offer plenty of flexibility for redeeming your points, others will set your account to 'zero' if you don't use them up within the designated time frame. Make sure you understand the policy to protect those hard-earned points.

4. Keep track of new offers and prizes regularly. Many companies add a roster of new perks and freebies on a regular basis, so find out what new 'prizes' are available each month. Some companies may even extend special offers through partner companies where you might be able to get discounts on shopping, eating out or other entertainment.

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