Football season is here — and for fans, that can mean pricey tickets, tailgates and travel. In fact, 54% of fans are making tradeoffs to afford their sports-related spending, according to a recent Bank of America survey.
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However, cutting expenses isn’t the only way to afford football season. GOBankingRates spoke with Lora Monfared, head of consumer credit card products at Bank of America, about how football fans can best maximize their credit card rewards to save on game-day costs.
1. Maximize Cash Back on Football-Related Purchases
Monfared advised using a credit card that offers flexible rewards in categories where you spend the most during football season, such as online shopping.
“If you’re likely to make online purchases for tickets, fan merchandise, decorations or even curating the menu for game-day gatherings, then this is a winning card to add to your starting lineup this football season,” she said.
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2. Use Welcome Bonuses Strategically
A study from the Bank of America Institute found that 36% of Americans have opened at least one credit card to take advantage of the sign-up bonus and/or rewards offers to pay for sporting events. This can be a savvy way to earn welcome cash — as long as you use the credit card responsibly.
“Football season can offer a natural window to meet the spending criteria,” Monfared said. “Just be sure to stick with your budget and spend within your means.”
3. Stack Rewards With Loyalty Programs
You can maximize your rewards by stacking credit card rewards with rewards from various shopper loyalty programs.
“Start by making sure you’re enrolled in all relevant customer rewards and loyalty programs at your preferred grocery stores, gas stations, restaurants and fan gear vendors,” Monfared said. “These are often an easy way to catch exclusive price reductions, member-only rates or rewards that accumulate over time. From there, use a rewards credit card to earn points or cash back, layering your benefits on the same purchase.”
You should also find out if your bank offers a loyalty program with additional credit card perks for its clients.
But Remember, Avoid Overspending for the Sake of Rewards
While you may want to cash in on all the rewards available to you this football season, it’s important to remember that taking on debt is never “worth it.”
“Only pursue rewards on purchases that you can comfortably afford to repay,” Monfared said. “Always aim to consistently pay your entire credit card balance on time, avoiding costly interest fees. View your credit card as a tool to maximize current spending habits that are within budget, not an excuse to spend beyond your means.”
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This article originally appeared on GOBankingRates.com: Bank of America Expert: 3 Ways Football Fans Can Maximize Credit Card Rewards This Season
