Angela Farquhar is a self-described B次元官网网址渟ucker for a loyalty program.B次元官网网址�

The 32-year-old teacher from Waubaushene, Ont., collects PC Optimum Points and Petro Points, but Air Miles are her favourite. She pays close attention to bonus events in order to rack them up faster.

But with her husband off work for two months due to the pandemic and travel looking unlikely for the foreseeable future, Farquhar B次元官网网址� like many Canadians B次元官网网址攈as had to change the way she uses her rewards. This year, instead of buying airline tickets, she used her Air Miles to buy a backyard slide her daughters, Mackenzie, 3, and Alexandra, 1.

B次元官网网址淢ackenzie absolutely loves it and I just started sliding Alexandra down too,B次元官网网址� Farquhar says. B次元官网网址淪he actually thinks itB次元官网网址檚 more fun taking turns with her sister.B次元官网网址�

Charlene Suchy, however, is taking the opposite approach.

The 37-year-old divemaster from Pefferlaw, Ont., is a devoted Air Miles collector, but has decided to save up rather than spend on non-travel items.

B次元官网网址淚B次元官网网址檓 currently looking at either round trip flights or an all-inclusive package using my miles,B次元官网网址� she says. IB次元官网网址檓 not sure of a destination yet, but have a few in mind for when we can travel again. My trip will only be nicer the more miles I can save.B次元官网网址�

So which is the right approach when it comes to rewards cards? Save up in the hope a vaccine will make travel possible relatively soon? Or use the points right now?

According to Patrick Sojka, the founder of Rewards Canada and an expert on travel rewards, Canadians are increasingly looking to do the latter, despite the fact that travel typically offers better value.

B次元官网网址淭he loyalty programs have told us that more people are using their rewards for merchandise, more people are redeeming for gift cards. ItB次元官网网址檚 definitely happening.B次元官网网址�

Whether thatB次元官网网址檚 the right strategy depends on your financial situation, says Sojka.

B次元官网网址淚f youB次元官网网址檙e an average income earner and you donB次元官网网址檛 have a way to rack up miles quickly, short-term benefits are probably a healthy way to look at it. A lot of programs tend to devalue over time, and thereB次元官网网址檚 uncertainty over the lack of travel and the global economy generally.B次元官网网址�

For those in higher income brackets, continuing to accumulate miles may be the better option. B次元官网网址淚t might not matter to you that a business class flight will cost 20,000 more miles in a year and a half,B次元官网网址� says Sojka.

The good news is that even travel-focused loyalty programs have become more flexible in recent years, including Air CanadaB次元官网网址檚 recently relaunched Aeroplan program.

B次元官网网址淲hether itB次元官网网址檚 merchandise, gift cards, tickets, Amazon purchases, cashback options: thereB次元官网网址檚 a whole gamut of options, depending on the program, says Sojka. B次元官网网址淢ost of them have added more, you just have to find the program that suits your needs.

The other option is to ditch your rewards card and switch to a cash-back credit card, though Sojka says this strategy has some drawbacks. For starters, cash-back cards tend to offer lower-percentage returns on purchases than travel rewards. And most cash-back cards only pay out once a year, making them less useful for those in search of short-term financial relief, though some, such as TDB次元官网网址檚 Cash Back Visa, allow you to redeem much sooner.

Whatever rewards strategy you choose, SojkaB次元官网网址檚 final piece of advice is to check to see when your points expire. Most programs have 12 to 24-month inactivity rules if youB次元官网网址檙e not earning or redeeming. Many pushed that forward due to the pandemic, but the deadlines will return.

B次元官网网址淓ither earn a mile or spend some on a reward,B次元官网网址� he says. B次元官网网址淭hat keeps them active.B次元官网网址�

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Alex McClintock, The Canadian Press

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