We asked experts to weigh in on how family should be enjoyed and how to make the most of free points or cash back to benefit your entire family
1. Choose free points wisely
“The easiest way to get family points is to choose your credit card wisely,” says Paul Smallwood, head of multichannel at TSB. “Make sure that you are going for cards that earn the most points, because each point won’t carry over from one card to another.
“So if you have one card, and you use it every time, you’ll typically be spending twice as much on that card as you would on a comparable regular cashback card.”
But it’s not necessarily a bad thing if you just use that card to pay the cost of an appliance or similar item, such as family hols abroad, Smallwood adds.
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Other ways to use points without necessarily spending as much include booking family holidays on the group buying site Clubgig or booking hotel rooms, and sending money to family members with international points you have saved on one card.
2. Cash in your points on experiences, not things
If you have a Tesco Clubcard you might like to use it to buy something from the Fogo de Chao chain of Brazilian steakhouses in London or other cities. They offer to replace Tesco vouchers with customers’ Clubcard points.
Instead of using the points you earned on an item, you can use the vouchers to purchase a meal, or you can use the points to book a one-off night in a restaurant, book and pay for a private band to perform an a cappella concert or a solo performing arts show.
In another example, if you have an American Express Premier Rewards American Express card, you can use it to book tickets for a Broadway show to see Hamilton.
3. Think about alternative cash transfers
If your family comprises of the reluctant gamers, it can be hard to persuade them to spend money on multiplayer games online. The answer could be to transfer your points to your loved ones who can spend it on the stuff they enjoy most.
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The UK’s free cash transfer company, Etah, allows users to transfer points from Tesco Clubcard, American Express and TopCashback reward cards to someone on your Friends Reunited and Facebook friends list.
Such a gift can be a great way to extend the scope of a gift basket or other items you give, and allow money to be split up in all directions to benefit everyone.
Friends Reunited: could you use it to give away money in four different ways? Photograph: selectagent/ClassicStock/Alamy