Many credit card users, especially those with premium travel rewards cards, face a growing challenge: keeping track of statement credits. Annual fees are rising, and cards now offer a wider range of statement credits that reset on various schedules. Failing to use these perks means leaving money on the table – and no one wants that.
The Problem With Proliferation
The increasing complexity stems from the sheer number of cards and benefits. Popular options like the American Express Platinum Card, Capital One Venture X, Hilton Honors Surpass, and Chase Sapphire Preferred all offer statement credits that cycle monthly, quarterly, biannually, or annually. Managing these across multiple cards can quickly become overwhelming.
Four Ways to Stay Organized
Fortunately, several methods can help you maximize your card perks. The best approach depends on how much effort you’re willing to put in.
1. Weekly Account Check-Ins
A simple starting point is regularly logging into your card accounts. Issuers like American Express clearly display how much credit you’ve used and how much remains. While it may take a few days or weeks for credits to post, this method works for many. The downside is its manual nature. As card portfolios grow, it becomes less efficient.
2. Spreadsheet Tracking
Dedicated rewards enthusiasts have long used spreadsheets to track credits, bonus categories, and balances. Carly Helfand, a director of points and miles content, breaks down credits by card, listing the amount and frequency (e.g., $100 Resy credit every quarter). She marks credits as used with an “X” to stay on top of them. Spreadsheets are flexible, but require consistent updates.
3. Digital Reminders
To automate the process, use email and calendar reminders. Katie Genter, a lead points and miles writer, relies on AwardWallet to notify her when credits are expiring. Matt Moffitt sets recurring Google Calendar alerts for monthly, quarterly, and biannual credits, such as the $75 quarterly Lululemon credit on the Amex Platinum. These reminders ensure timely action without constant manual checking.
4. Mobile App Solutions
For those who prefer mobile tools, apps like TickTick and Todoist can manage recurring credits. Matt Moffitt maintains a “master list” in his iPhone Notes app, while Carly sets up notifications within her task manager. The key is to layer reminders: Katie “doubles (and triples) up” on alerts to avoid missed opportunities.
Staying On Top of Perks
Whether you choose manual check-ins, spreadsheets, or digital reminders, the goal is the same: maximize the value of your premium credit cards. The more cards you have, the more critical organization becomes.
If you’re balancing multiple rewards cards with time-sensitive statement credits, it’s time to get on track. The effort required is minimal compared to the benefits lost by letting perks expire.
