With the average cost of tuition rising every year, parents often look for creative ways to stretch dollars to offset the cost of post-secondary education. A rewards-based credit card can take off some of the pressure of school expenses. Whether it’s for necessary items like textbooks or stress-relieving leisure activities, here are five ways parents can use their rewards to make their student’s life a bit easier:
1. School essentials. Redeem cash-back credits or points towards back-to-school supplies. Or use your rewards to buy practical merchandise like a coffee maker or microwave and gift cards for groceries or clothes.
2. Treats. Convert points to send your student to a favourite restaurant or the movies after a tough exam.
3. Trips home. Redeem points to bring your student home for the holidays with a flight or a gas card for their car, or use your cash-back credits to off-set some of the cost.
4. Special offers. Take advantage of offers where you can earn bonus points to accelerate your rewards balance and get what they need that much faster.
5. Invest before they go: Put your credit card rewards to work by contributing points towards your child’s education. RBC financial rewards are unique vouchers for investing in a Registered Education Savings Plan (RESP).
Find more information and advice online at rbcrewards.com.