How to Keep Track of Your Points Schemes

There are a plethora of reward schemes available to join today. And whatever they’re called, loyalty points, rewards schemes, airline miles, frequent flyer points, if you’re a member of multiple schemes, it can get confusing keeping track.

Luckily, there are a few ways to keep track of all your loyalty points. So don’t let all of your reward schemes overwhelm you, keep track and take advantage of as many as you can.

If There Are Points, Get Them

Most people spend money in lots of different places, most tend not to stick to one supermarket chain for example, or the same restaurant. Knowing this, some people are overwhelmed by the amount of loyalty schemes available and decide that they only want to fill up their wallet/purse with the ones they tend to shop in most.

I have come up with a few strategies to manage the plethora of loyalty cards and here are a few:

First off, if there is a scheme, us it. Here are just a few of the loyalty schemes you could/should be a part of:

  • American Express Membership Rewards

  • British Airways Avios

  • BPme

  • Flying Blue

  • Hilton Honors

  • Morrisons More

  • Nectar

  • Subway

  • Tesco Clubcard

  • Waterstones

How To Organise Your Loyalty Schemes

Loyalty Card Management:

I purchased a card organiser where I store all of my physical loyalty cards. If I'm going out somewhere, and I know I'm going to a specific shop, I take out the card. This is my preference, I prefer real cards as it reminds me to use them. A key fob also works well, since they're really small. I get them when they're available.

Reward App Management:

There are apps where you can store all of your loyalty cards so you never have to carry a card with you. Personally, I get irritated by the fact that not all loyalty schemes are yet available on them, so I would have to remember if they're on the app or not when in store. 

A card is always available. Card storage apps will get better in future, and I am prepared to switch to them when they do. 

How Do I Keep Track Of All My Points

I keep track of my loyalty account balances in the same way as I track my bank balances, a spreadsheet. It usually takes about 15 mins to check all of them online. Using a password manager is useful here. A password manager like Keychain for MacBook (others are available) means you just have to go onto the login page and your details are automatically filled in.

(Hint: This also allows you to store different, complex passwords for different sites, making your accounts more secure)

I check each account and add the balance to a table at the bottom of a spreadsheet I made (see below). I also use this Spreadsheet to keep track of my credit cards (fees, bonuses, etc.) and credit score.

Whilst I believe the app alternative is getting better, a points spreadsheet (if done properly) still offers the best solution.

You can download the very spreadsheet I use through my online shop, where 10% of all profits go to charity.

Capital Matters - Keep Track of Points Schemes - Downloadable Credit Card and Points Tracker Spreadsheet

How To Maximise Your Value Per Point

Sometimes rewards schemes, like Tesco Clubcard, offer you the option of an in-store voucher, or a voucher with a reward partner. Normally, the £:p (Pound to point) ratio is better if you redeem with a reward partner (like a restaurant chain) rather than an in-store voucher. 

What Out For Point Devaluations

The problem with saving points is that you never know when they are going to get devalued. For example, 100 points in a certain loyalty scheme might get you a £10 gift voucher. One month later, the same 100 points might only get you a £5 voucher.

In my opinion, large point balances are better in credit card rewards schemes (eg. Amex Membership Rewards) where they have lots of redemption partners. Similarly, large point balances in air mile schemes can save you thousands of pounds if you redeem them for the right seat. 

So just be aware that point devaluations can occur. Don't treat points as absolute savings, in my opinion. 

Credit Card Introductory Bonuses

When you are considering an application for a credit card, the introductory bonus is an important factor. You will usually, but not always, have to reach a minimum spend in a certain amount of time. For example, you may have to spend £1000 on the card in the first 3 months.

The starting date could be the date you received the card, it could be the date you applied, or somewhere in between. If it is not clear, ask the card company. Ask them the exact date that you have to reach the minimum spend and write it in your calendar. 

I was given 3 months to spend £1000 when I received my Amex Rewards card. I checked the exact due date with Amex and noted it down. I had to reach a £1000 minimum spend by the 14th of October, 2017 to be awarded 10,000 Amex MR points.

I set a reminder for the 14th of August and September to remind me to hit the minimum spend. I never spent more than normal. Instead I used a few tricks to hit the minimum as soon as possible.

  1. If someone kind, that you trust (eg. a family member) is making a purchase, ask if they can give you the money instead so you can then purchase it using the card.

  2. The voucher trick. If it counts towards your minimum spend, buy a voucher that you know you will redeem (like a major supermarket voucher).