I Wrote About Credit Cards for Years: Here's My Credit Card Rewards Strategy

This is how I maximize cash back and points for various purchases and leverage premium card benefits such as airport lounge access and annual fee waivers for active-duty military members.

By Lisa Gerstner

published 11 October 2025

in Features

A woman sitting on her sofa smiles as she looks at her credit card and holds a tablet.

(Image credit: Getty Images)

Before I became editor of Kiplinger Personal Finance Magazine, I spent many years writing about credit card rewards, and it was one of my favorite topics to cover. I enjoyed tracking the newest offers from issuers and gauging whether various cards were worthy of consideration.

My time on the credit card beat also informed my own strategy as a rewards card user. I charge most purchases on a card that has no annual fee and offers 2% cash back on all spending. (And, practicing what we at Kiplinger preach, I don’t charge more on it than I can afford to pay off each month.)

My husband, Tom, is also on the account, and together, we earn hundreds of dollars in cash back each year, which we deposit into our checking account.

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Otherwise, I put restaurant and travel purchases on a card that offers extra points on each dollar spent in those categories. When I’m ready to exchange the points for rewards, I check the redemption values to make sure I’m getting a healthy return.

Many cards offer varying point values depending on how you redeem the rewards, so it’s worth doing the math.

My advice: Aim to get a value of at least 1 cent per point. Or, in other words, each 100 points should be worth at least $1. American Express Membership Rewards points, for example, are worth a penny each if you use them to book flights through Amex Travel, but only 0.6 cents each if you exchange them for statement credits.

Although rewards rates drive most of my decisions on which card to use for a purchase, I consider the card’s additional benefits, too.

When buying electronics or appliances, for example, I often charge them to a card that offers an extended warranty, in case the item breaks down shortly after the manufacturer’s warranty expires.

Premium rewards credit cards

I keep a couple of premium travel cards in my wallet, too. Thanks to Tom’s status as an active-duty military member, he qualifies for a waiver of the annual fee on some credit cards, and the benefit extends to me as an authorized user on his accounts.

For us, taking advantage of the many perks premium cards offer while bypassing annual fees in the hundreds of dollars is a no-brainer. (After Tom retires from military service, however, we’ll have to assess whether the annual fee is worth paying.)

One of the best benefits has been complimentary entry into airport lounges. Along with offering access to lounge networks such as Escape and Priority Pass Select, some card issuers are opening their own lounges, too.

Chase, for example, has been expanding its network of Sapphire lounges. Over the summer, I visited the sleek, expansive lounge Chase recently opened at Philadelphia International Airport. I ordered a fresh bowl of noodles with vegetables, which a server delivered to my table restaurant-style, and my kids played arcade games and shuffleboard while we waited out a three-hour flight delay.

Free wine, beer and cocktails, shower rooms, and private rest pods are other amenities you’ll find at many lounges run by issuers such as Amex, Capital One and Chase.

Judging by the responses to our annual Readers’ Choice Awards, many of you use rewards cards, too. If you’d like to share your strategies to maximize rewards or highlight your favorite perks, feel free to drop me a line.

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

Lisa has been the editor of Kiplinger Personal Finance since June 2023. Previously, she spent more than a decade reporting and writing for the magazine on a variety of topics, including credit, banking and retirement. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school’s “Graduate of the Last Decade” award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons.