Advertiser Disclosure
A blue checkmark icon
Fact Checked
A black x icon

Kudos has partnered with CardRatings and Red Ventures for our coverage of credit card products. Kudos, CardRatings, and Red Ventures may receive a commission from card issuers. Kudos may receive commission from card issuers. Some of the card offers that appear on Kudos are from advertisers and may impact how and where card products appear on the site. Kudos tries to include as many card companies and offers as we are aware of, including offers from issuers that don't pay us, but we may not cover all card companies or all available card offers. You don't have to use our links, but we're grateful when you do!

Got it
Special Offer:

5 Essential Year-End Credit Card Tasks to Complete in 2024

Essential year-end credit card tasks to help you maximize benefits and rewards before December 31st.

Small Kudos square logoAn upside down carrot icon
Person writing a checklist

As December approaches, it's crucial to review your credit card portfolio to ensure you're maximizing benefits that may expire or reset at year's end. This is particularly important for cards with annual fees, where unused benefits essentially mean leaving money on the table. Let's explore the essential tasks you need to complete before the calendar year ends.

1. Maximize Your Statement Credits and Annual Benefits

Credit card issuers often provide various statement credits that expire either on a calendar year or cardmember year basis. These outstanding benefits can significantly offset annual fees, but they typically follow a use-it-or-lose-it model. According to recent data from J.D. Power, nearly 30% of credit card rewards go unused each year.

Here's a breakdown of common credits to check:

Travel and Airline Credits

Lifestyle and Shopping Credits

  • Monthly credits for streaming services
  • Semi-annual credits for specific retailers
  • DashPass membership benefits
  • Annual statement credits for shopping
  • Limited-time promotions through Amex Offers, Chase Offers, or BankAmeriDeals
More:

Put your cards to work.

Kudos is your ultimate financial companion, helping you effortlessly manage multiple credit cards, monitor your credit score, and maximize your rewards—all in one convenient platform.
Add to Chrome – It’s Free

2. Review Spending Thresholds for Elite Status and Free Nights

Many co-branded cards offer valuable milestone rewards when you reach certain annual spending thresholds. These often include:

  • Hotel elite status through spending
  • Free night certificates (like the World of Hyatt Credit Card's Category 1-4 free night award)
  • Airline elite status boost
  • Companion passes or companion fares
  • Fourth night free offers

If you're close to these thresholds, consider whether the additional spending required would be worthwhile for your travel plans.

An icon of a lightbulb
Kudos Tip
More:

3. Evaluate Infrequently Used Cards

While it might be tempting to close cards you rarely use, this decision requires careful consideration. Tom Quinn, Vice President of FICO Scores, explains: "Closing a credit card can impact both your credit utilization ratio and length of credit history, potentially affecting your credit card score."

Instead of closing accounts, consider:

  • Making small purchases periodically to keep accounts active
  • Evaluating if downgrading to a no-annual-fee version makes sense
  • Using these cards for specific bonus categories where they excel
More:

4. Review Points and Miles Strategies

Year-end is the perfect time to assess your rewards strategy:

  • Check points purchase limits if you need to top off accounts
  • Consider transferring points between programs before any devaluation
  • Review point expiration policies
  • Evaluate elevated welcome bonuses for new card applications
  • Check IHG points, Marriott Bonvoy points, and other hotel program points balances

5. Plan for the New Year

Use this time to strategize for the upcoming year:

  • Review bonus categories alignment with spending patterns
  • Plan for upcoming large purchases that could earn welcome bonuses
  • Evaluate whether your current cards' benefits justify their annual fees
  • Consider applying for cards with elevated welcome bonuses

Maximize Your Rewards with Kudos

While managing multiple credit card benefits can be overwhelming, tools like Kudos can help simplify the process. This free AI-powered browser extension automatically recommends the best card to use for each purchase, ensuring you never miss out on rewards. Currently, Kudos is offering $20 back after your first eligible purchase — just sign up for free with code "GET20" and make a purchase at a Boost merchant.

Expert Takeaway

A thorough year-end credit card review ensures you're maximizing value from your cards while maintaining a healthy credit profile. By following this checklist, you can enter the new year with an optimized credit card strategy that aligns with your spending habits and financial goals.

Frequently Asked Questions

What happens to unused credit card credits at the end of the year?

Most statement credits expire if unused, either at the calendar year end or your cardmember anniversary, depending on the specific benefit terms.

Should I close credit cards I don't use frequently?

Generally no, as closing cards can negatively impact your credit score by affecting your credit utilization ratio and length of credit history.

How do I know when my credit card benefits reset?

Check your card's benefit guide to determine if benefits reset based on the calendar year or your cardmember year (when you opened the account).

What's the difference between calendar year and cardmember year?

Calendar year benefits reset on December 31st, while cardmember year benefits reset on your account anniversary date.

How can I track multiple credit card benefits?

Consider using a free tool like Kudos, which helps track and maximize credit card rewards across all your cards automatically.

Supercharge Your Credit Cards

Experience smarter spending with Kudos and unlock more from your credit cards. Earn $20.00 when you sign up for Kudos with "GET20" and make an eligible Kudos Boost purchase.

Get Started

Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

In this article

No items found.
Kudos, featured on:
200,000 members and counting
Advertiser Disclosure
A blue checkmark icon
Fact Checked
A black x icon

Kudos has partnered with CardRatings and Red Ventures for our coverage of credit card products. Kudos, CardRatings, and Red Ventures may receive a commission from card issuers. Kudos may receive commission from card issuers. Some of the card offers that appear on Kudos are from advertisers and may impact how and where card products appear on the site. Kudos tries to include as many card companies and offers as we are aware of, including offers from issuers that don't pay us, but we may not cover all card companies or all available card offers. You don't have to use our links, but we're grateful when you do!

Got it
Special Offer:

5 Essential Year-End Credit Card Tasks to Complete in 2024

Essential year-end credit card tasks to help you maximize benefits and rewards before December 31st.

Small Kudos square logoAn upside down carrot icon

As December approaches, it's crucial to review your credit card portfolio to ensure you're maximizing benefits that may expire or reset at year's end. This is particularly important for cards with annual fees, where unused benefits essentially mean leaving money on the table. Let's explore the essential tasks you need to complete before the calendar year ends.

1. Maximize Your Statement Credits and Annual Benefits

Credit card issuers often provide various statement credits that expire either on a calendar year or cardmember year basis. These outstanding benefits can significantly offset annual fees, but they typically follow a use-it-or-lose-it model. According to recent data from J.D. Power, nearly 30% of credit card rewards go unused each year.

Here's a breakdown of common credits to check:

Travel and Airline Credits

Lifestyle and Shopping Credits

  • Monthly credits for streaming services
  • Semi-annual credits for specific retailers
  • DashPass membership benefits
  • Annual statement credits for shopping
  • Limited-time promotions through Amex Offers, Chase Offers, or BankAmeriDeals
More:

Put your cards to work.

Kudos is your ultimate financial companion, helping you effortlessly manage multiple credit cards, monitor your credit score, and maximize your rewards—all in one convenient platform.
Add to Chrome – It’s Free

2. Review Spending Thresholds for Elite Status and Free Nights

Many co-branded cards offer valuable milestone rewards when you reach certain annual spending thresholds. These often include:

  • Hotel elite status through spending
  • Free night certificates (like the World of Hyatt Credit Card's Category 1-4 free night award)
  • Airline elite status boost
  • Companion passes or companion fares
  • Fourth night free offers

If you're close to these thresholds, consider whether the additional spending required would be worthwhile for your travel plans.

An icon of a lightbulb
Kudos Tip
More:

3. Evaluate Infrequently Used Cards

While it might be tempting to close cards you rarely use, this decision requires careful consideration. Tom Quinn, Vice President of FICO Scores, explains: "Closing a credit card can impact both your credit utilization ratio and length of credit history, potentially affecting your credit card score."

Instead of closing accounts, consider:

  • Making small purchases periodically to keep accounts active
  • Evaluating if downgrading to a no-annual-fee version makes sense
  • Using these cards for specific bonus categories where they excel
More:

4. Review Points and Miles Strategies

Year-end is the perfect time to assess your rewards strategy:

  • Check points purchase limits if you need to top off accounts
  • Consider transferring points between programs before any devaluation
  • Review point expiration policies
  • Evaluate elevated welcome bonuses for new card applications
  • Check IHG points, Marriott Bonvoy points, and other hotel program points balances

5. Plan for the New Year

Use this time to strategize for the upcoming year:

  • Review bonus categories alignment with spending patterns
  • Plan for upcoming large purchases that could earn welcome bonuses
  • Evaluate whether your current cards' benefits justify their annual fees
  • Consider applying for cards with elevated welcome bonuses

Maximize Your Rewards with Kudos

While managing multiple credit card benefits can be overwhelming, tools like Kudos can help simplify the process. This free AI-powered browser extension automatically recommends the best card to use for each purchase, ensuring you never miss out on rewards. Currently, Kudos is offering $20 back after your first eligible purchase — just sign up for free with code "GET20" and make a purchase at a Boost merchant.

Expert Takeaway

A thorough year-end credit card review ensures you're maximizing value from your cards while maintaining a healthy credit profile. By following this checklist, you can enter the new year with an optimized credit card strategy that aligns with your spending habits and financial goals.

Frequently Asked Questions

What happens to unused credit card credits at the end of the year?

Most statement credits expire if unused, either at the calendar year end or your cardmember anniversary, depending on the specific benefit terms.

Should I close credit cards I don't use frequently?

Generally no, as closing cards can negatively impact your credit score by affecting your credit utilization ratio and length of credit history.

How do I know when my credit card benefits reset?

Check your card's benefit guide to determine if benefits reset based on the calendar year or your cardmember year (when you opened the account).

What's the difference between calendar year and cardmember year?

Calendar year benefits reset on December 31st, while cardmember year benefits reset on your account anniversary date.

How can I track multiple credit card benefits?

Consider using a free tool like Kudos, which helps track and maximize credit card rewards across all your cards automatically.

Supercharge Your Credit Cards

Experience smarter spending with Kudos and unlock more from your credit cards. Earn $20.00 when you sign up for Kudos with "GET20" and make an eligible Kudos Boost purchase.

Get Started

Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

In this article

No items found.
Advertiser Disclosure
A blue checkmark icon
Fact Checked
A black x icon

Kudos has partnered with CardRatings and Red Ventures for our coverage of credit card products. Kudos, CardRatings, and Red Ventures may receive a commission from card issuers. Kudos may receive commission from card issuers. Some of the card offers that appear on Kudos are from advertisers and may impact how and where card products appear on the site. Kudos tries to include as many card companies and offers as we are aware of, including offers from issuers that don't pay us, but we may not cover all card companies or all available card offers. You don't have to use our links, but we're grateful when you do!

Got it
Special Offer:

5 Essential Year-End Credit Card Tasks to Complete in 2024

Essential year-end credit card tasks to help you maximize benefits and rewards before December 31st.

Small Kudos square logoAn upside down carrot icon
Person writing a checklist

As December approaches, it's crucial to review your credit card portfolio to ensure you're maximizing benefits that may expire or reset at year's end. This is particularly important for cards with annual fees, where unused benefits essentially mean leaving money on the table. Let's explore the essential tasks you need to complete before the calendar year ends.

1. Maximize Your Statement Credits and Annual Benefits

Credit card issuers often provide various statement credits that expire either on a calendar year or cardmember year basis. These outstanding benefits can significantly offset annual fees, but they typically follow a use-it-or-lose-it model. According to recent data from J.D. Power, nearly 30% of credit card rewards go unused each year.

Here's a breakdown of common credits to check:

Travel and Airline Credits

Lifestyle and Shopping Credits

  • Monthly credits for streaming services
  • Semi-annual credits for specific retailers
  • DashPass membership benefits
  • Annual statement credits for shopping
  • Limited-time promotions through Amex Offers, Chase Offers, or BankAmeriDeals
More:

2. Review Spending Thresholds for Elite Status and Free Nights

Many co-branded cards offer valuable milestone rewards when you reach certain annual spending thresholds. These often include:

  • Hotel elite status through spending
  • Free night certificates (like the World of Hyatt Credit Card's Category 1-4 free night award)
  • Airline elite status boost
  • Companion passes or companion fares
  • Fourth night free offers

If you're close to these thresholds, consider whether the additional spending required would be worthwhile for your travel plans.

An icon of a lightbulb
Kudos Tip
More:

3. Evaluate Infrequently Used Cards

While it might be tempting to close cards you rarely use, this decision requires careful consideration. Tom Quinn, Vice President of FICO Scores, explains: "Closing a credit card can impact both your credit utilization ratio and length of credit history, potentially affecting your credit card score."

Instead of closing accounts, consider:

  • Making small purchases periodically to keep accounts active
  • Evaluating if downgrading to a no-annual-fee version makes sense
  • Using these cards for specific bonus categories where they excel
More:

4. Review Points and Miles Strategies

Year-end is the perfect time to assess your rewards strategy:

  • Check points purchase limits if you need to top off accounts
  • Consider transferring points between programs before any devaluation
  • Review point expiration policies
  • Evaluate elevated welcome bonuses for new card applications
  • Check IHG points, Marriott Bonvoy points, and other hotel program points balances

5. Plan for the New Year

Use this time to strategize for the upcoming year:

  • Review bonus categories alignment with spending patterns
  • Plan for upcoming large purchases that could earn welcome bonuses
  • Evaluate whether your current cards' benefits justify their annual fees
  • Consider applying for cards with elevated welcome bonuses

Maximize Your Rewards with Kudos

While managing multiple credit card benefits can be overwhelming, tools like Kudos can help simplify the process. This free AI-powered browser extension automatically recommends the best card to use for each purchase, ensuring you never miss out on rewards. Currently, Kudos is offering $20 back after your first eligible purchase — just sign up for free with code "GET20" and make a purchase at a Boost merchant.

Expert Takeaway

A thorough year-end credit card review ensures you're maximizing value from your cards while maintaining a healthy credit profile. By following this checklist, you can enter the new year with an optimized credit card strategy that aligns with your spending habits and financial goals.

Frequently Asked Questions

What happens to unused credit card credits at the end of the year?

Most statement credits expire if unused, either at the calendar year end or your cardmember anniversary, depending on the specific benefit terms.

Should I close credit cards I don't use frequently?

Generally no, as closing cards can negatively impact your credit score by affecting your credit utilization ratio and length of credit history.

How do I know when my credit card benefits reset?

Check your card's benefit guide to determine if benefits reset based on the calendar year or your cardmember year (when you opened the account).

What's the difference between calendar year and cardmember year?

Calendar year benefits reset on December 31st, while cardmember year benefits reset on your account anniversary date.

How can I track multiple credit card benefits?

Consider using a free tool like Kudos, which helps track and maximize credit card rewards across all your cards automatically.

Supercharge Your Credit Cards

Experience smarter spending with Kudos and unlock more from your credit cards. Earn $20.00 when you sign up for Kudos with "GET20" and make an eligible Kudos Boost purchase.

Get Started

Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

In this article

No items found.
Kudos, featured on:
200,000 members and counting
Advertiser Disclosure
A blue checkmark icon
Fact Checked
A black x icon

Kudos has partnered with CardRatings and Red Ventures for our coverage of credit card products. Kudos, CardRatings, and Red Ventures may receive a commission from card issuers. Kudos may receive commission from card issuers. Some of the card offers that appear on Kudos are from advertisers and may impact how and where card products appear on the site. Kudos tries to include as many card companies and offers as we are aware of, including offers from issuers that don't pay us, but we may not cover all card companies or all available card offers. You don't have to use our links, but we're grateful when you do!

Got it
Special Offer:

5 Essential Year-End Credit Card Tasks to Complete in 2024

Essential year-end credit card tasks to help you maximize benefits and rewards before December 31st.

Small Kudos square logoAn upside down carrot icon

As December approaches, it's crucial to review your credit card portfolio to ensure you're maximizing benefits that may expire or reset at year's end. This is particularly important for cards with annual fees, where unused benefits essentially mean leaving money on the table. Let's explore the essential tasks you need to complete before the calendar year ends.

1. Maximize Your Statement Credits and Annual Benefits

Credit card issuers often provide various statement credits that expire either on a calendar year or cardmember year basis. These outstanding benefits can significantly offset annual fees, but they typically follow a use-it-or-lose-it model. According to recent data from J.D. Power, nearly 30% of credit card rewards go unused each year.

Here's a breakdown of common credits to check:

Travel and Airline Credits

Lifestyle and Shopping Credits

  • Monthly credits for streaming services
  • Semi-annual credits for specific retailers
  • DashPass membership benefits
  • Annual statement credits for shopping
  • Limited-time promotions through Amex Offers, Chase Offers, or BankAmeriDeals
More:

2. Review Spending Thresholds for Elite Status and Free Nights

Many co-branded cards offer valuable milestone rewards when you reach certain annual spending thresholds. These often include:

  • Hotel elite status through spending
  • Free night certificates (like the World of Hyatt Credit Card's Category 1-4 free night award)
  • Airline elite status boost
  • Companion passes or companion fares
  • Fourth night free offers

If you're close to these thresholds, consider whether the additional spending required would be worthwhile for your travel plans.

An icon of a lightbulb
Kudos Tip
More:

Put your cards to work.

Kudos is your ultimate financial companion, helping you effortlessly manage multiple credit cards, monitor your credit score, and maximize your rewards—all in one convenient platform.
Add to Chrome – It’s Free

3. Evaluate Infrequently Used Cards

While it might be tempting to close cards you rarely use, this decision requires careful consideration. Tom Quinn, Vice President of FICO Scores, explains: "Closing a credit card can impact both your credit utilization ratio and length of credit history, potentially affecting your credit card score."

Instead of closing accounts, consider:

  • Making small purchases periodically to keep accounts active
  • Evaluating if downgrading to a no-annual-fee version makes sense
  • Using these cards for specific bonus categories where they excel
More:

4. Review Points and Miles Strategies

Year-end is the perfect time to assess your rewards strategy:

  • Check points purchase limits if you need to top off accounts
  • Consider transferring points between programs before any devaluation
  • Review point expiration policies
  • Evaluate elevated welcome bonuses for new card applications
  • Check IHG points, Marriott Bonvoy points, and other hotel program points balances

5. Plan for the New Year

Use this time to strategize for the upcoming year:

  • Review bonus categories alignment with spending patterns
  • Plan for upcoming large purchases that could earn welcome bonuses
  • Evaluate whether your current cards' benefits justify their annual fees
  • Consider applying for cards with elevated welcome bonuses

Maximize Your Rewards with Kudos

While managing multiple credit card benefits can be overwhelming, tools like Kudos can help simplify the process. This free AI-powered browser extension automatically recommends the best card to use for each purchase, ensuring you never miss out on rewards. Currently, Kudos is offering $20 back after your first eligible purchase — just sign up for free with code "GET20" and make a purchase at a Boost merchant.

Expert Takeaway

A thorough year-end credit card review ensures you're maximizing value from your cards while maintaining a healthy credit profile. By following this checklist, you can enter the new year with an optimized credit card strategy that aligns with your spending habits and financial goals.

Frequently Asked Questions

What happens to unused credit card credits at the end of the year?

Most statement credits expire if unused, either at the calendar year end or your cardmember anniversary, depending on the specific benefit terms.

Should I close credit cards I don't use frequently?

Generally no, as closing cards can negatively impact your credit score by affecting your credit utilization ratio and length of credit history.

How do I know when my credit card benefits reset?

Check your card's benefit guide to determine if benefits reset based on the calendar year or your cardmember year (when you opened the account).

What's the difference between calendar year and cardmember year?

Calendar year benefits reset on December 31st, while cardmember year benefits reset on your account anniversary date.

How can I track multiple credit card benefits?

Consider using a free tool like Kudos, which helps track and maximize credit card rewards across all your cards automatically.

Supercharge Your Credit Cards

Experience smarter spending with Kudos and unlock more from your credit cards. Earn $20.00 when you sign up for Kudos with "GET20" and make an eligible Kudos Boost purchase.

Get Started

Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

In this article

No items found.
No items found.