The holiday shopping season can get expensive, but it's also a great way to cash in all those credit card points you've been piling up over the past year.
“For example, through Chase's Ultimate Rewards, you can access all different kinds of retailers and shop right through there with your points. You can also book travel with your points or buy gift cards with your points,” says Farnoosh Torabi, Chase Financial's education ambassador.
Many retailers offer a similar plan, not to be confused with retail credit cards.
“The rewards card, sometimes stores have their own frequent shopper card where you can get different kinds of announcements and rewards exclusive to being a member in their community, but it's not a credit card,” says Torabi.
However,Torabi warns all these digital transactions expose you to fraud.
“Time is money when it comes to fraud,” she says. “The longer you take to detect it and do something about it, the more likely you'll be compromised and have to pay more to recover.”
Thegood thing she says, card companies are much better at alerting consumers of potential fraud.