Tips to maximize your PayRewards Points 

Looking to earn valuable and flexible points on your business payments? Of course you are! PayRewards allows you to earn points on every business expense. You can stack PayRewards Points on top of your business credit card rewards, and you can even earn points on ACH transfers! You can transfer our PayRewards to our expanding list of partners, pay down an invoice, or convert to a gift card. 

But how can you make the most of PayRewards Points? It’s simple. The more you transact, the more points you can earn. Here are some tips and tricks to get you off to a flying start and maximize your PayRewards Points. 

Double your PayRewards Points on every transaction 

Every time you process a payment through PayRewards, you can choose to earn PayRewards Points. As a baseline, you can collect 1 PayRewards Point per dollar spent at a processing fee of 1.75% (‘Core Tier’). But there’s a way to double your points on every transaction, without doubling the transaction fees. 

Choose to earn 2 PayRewards Points per $1 spent and the processing fee is only 3.25% (‘Plus Tier’). This means you’re paying 1.625c for every PayRewards Point earned, rather than 1.75c per PayRewards Points as with Core Tier. 

With twice as many points to spend, you can get yourself flying business class faster – and more often. 

Make more payments on PayRewards 

The best way to maximize your points on PayRewards is to- well, use Payrewards! One of the most popular ways business owners use our platform is to make payments to vendors using a credit card, specifically when vendors don’t accept credit cards. You pay us by credit card, we pay your supplier by ACH, wire transfer or check, and you earn points – easy! But that’s just the start. 

How about your company payroll? Those staff salaries you’re paying can be another opportunity to pile up the points. Even better, those quarterly estimated tax payments to the IRS can be a juicy way to earn PayRewards Points. 

Almost any payment your business makes can be a way of topping up your PayRewards Points. How about your office rent, utilities, and even any business loan repayments? That’s easily done, and if you opt to pay by ACH, don’t worry! You still have the option to earn PayRewards Points. 

Just check our list of prohibited payments for the exclusions. Don’t worry, there aren’t too many. 

The power move: earn points by paying your credit card statements 

You probably know that credit cards can be a powerful way to earn points for your business. But we’ll let you in on one of our favorite tricks. Through PayRewards, you can earn points by paying off your credit card. That’s right – you could earn points first by spending on your card, at your bank’s usual points-earning rates… and that boring payment to clear the bill? You could earn points on that, too. 

Here’s how it works: You pay us via ACH, and we pay your bill – in this case, your credit card statement – by check. In between, you earn PayRewards Points. This means your business can generate up to 2 PayRewards Points per $1 repaid onto your credit card account. 

Just look at your credit card statement or your bank’s website to confirm that checks are accepted for credit card repayments, and where those checks should be sent. While a few card issuers don’t accept check payments, most major credit card issuers do. For instance, American Express, Bank of America, Capital One, Chase, U.S. Bank and Wells Fargo all accept credit card repayments by check. 

After your payment is processed by PayRewards, we’ll send a check to your credit card company directly. Allow enough time for your check to be received by the bank before the statement due date. 

Don’t forget, you can also use credit cards to make payments via PayRewards, which means earning any usual credit card points or miles, as well as PayRewards Points if you choose. Then, use the PayRewards platform to pay off your credit card, taking your points to new heights. 

Use these tricks and you’ll be rolling in points in no time! You may never fly coach again. Get started below!

Written by PayRewards

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