Do PenFed Power Cash Rewards expire?

You should redeem credit card rewards as often as possible, whether they’re points, miles, or cash back. It is important to redeem often because credit card rewards can be devalued or expire, depending on the type of rewards they are.

The longer credit card rewards earnings stay in your account unredeemed, the more time they’re subject to devaluation, the more likely they are to expire, and the less you actually get to benefit. Rewards...

You can calculate reward point values by dividing the dollar value of what you redeem points for by the number of points required to get that product or service. This will leave you with the value of a single reward point. For example, if a $500 plane ticket costs 40,000 points, that means each point is worth 1.25 cents when redeemed for airfare.

Cost of Item in Dollars / Cost in Points = Value...

The best way to use credit card points is for travel purchases, according to a WalletHub research. That’s because issuers usually offer the best value on this particular category. But that’s not a rule across the board. The best way to use credit card points will vary depending on what credit card you have. Your points could be worth just as much (or even more) in cash back or gift cards. So, it’s a good idea to...