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I don't use credit cards. Ever. And although I'm happy with that particular financial decision, I sometimes feel like I'm missing out. Rewards credit cards have taken root in thousands of households because of the perks they provide, like free airline miles and gasoline. Opting out of credit cards means opting out of those rewards.
Fortunately, there are lots of non-credit card rewards programs out there that I can take advantage of. It's just a matter of looking outside the credit box.
Gift Cards
They're a popular holiday gift staple, but I also purchase gift cards for myself when there is a rewards program attached. Some stores reward gift card purchases by offering coupons and even additional cash. My favorite of late is Half Price Books, which at certain times of the year gives out a five-dollar coupon to those who buy gift cards. They also hand out free calendars with coupons on the back.
Newsletters
The online marketing craze is just as pervasive as the credit card craze, which means untapped rewards programs. When I like a store, I visit their web site and sign up for their newsletter. This often means coupons delivered by email, as well as special sales available only to newsletter subscribers. Kohl's department store is one example. I signed up for their newsletter, and I get a coupon about once a week, sometimes for 20 percent off a single item, sometimes for a smaller percentage off my entire purchase.
Loyalty Programs
This particular rewards program might not be as popular as it once was, but they are out there. A loyalty program is like a membership club: You get a card for that store, and each time you make a purchase, it's recorded on the card. A certain number of purchases or dollars spent results in coupons or other rewards that wouldn't otherwise be available. My family shops at Kroger, for instance, and every few months we receive a coupon booklet with twenty or so coupons for items we buy on a regular basis. We also get a coupon for a free turkey during the holidays.
Choosing a Rewards Program
I'm always very careful to read the terms and conditions of a loyalty or rewards program before I take advantage of it. Because I'm a bargain shopper, I'll sometimes sign up for a program I don't really need or want to use, which leads to unnecessary purchases.
The rewards programs that benefit me most are those associated with stores at which I already shop. They're getting my money, so I might as well take advantage of any perks I might enjoy as a result of those purchases.
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