By Jolandé Duvenage, CEO of eBucks Rewards, the leading multi-partner rewards programme offered by FNB and RMB Private Bank.

In today's tough times, your wallet might be bulging, but it's more likely to be overflowing with umpteen loyalty cards, rather than cash, right? Those cards that seemed like such a good idea at the time, but now you probably can't remember why you signed up, what you had to do to earn rewards, and whether you have ever benefitted from any of the programmes. Still, you carry on lugging these cards about, swiping them when you remember, hoping one day to get those rewards you was promised.

Not ideal when you consider that you're missing out on using rewards to pay for everyday necessities and even life's indulgences – but only if you play your loyalty cards right.

With around 70 reward programmes in South Africa, subscribed to by 10 million of us, how do you know which is the best one for you? To give you the upper hand, let's demystify the loyalty programme landscape, and offer a few tips on making the most of your spending power.

First and foremost, you need to consider your personality and spending habits. Are you likely to change your shopping habits to make the most of loyalty-programmes, or will you probably revert to your usual habits after a few weeks, abandoning the potential rewards? Generally it's better to choose a loyalty programme that rewards you for the things you already do. For instance, you're going to buy airtime or do banking anyway, so make sure you earn rewards for doing so. Be rewarded for existing expenses, such as insurance and even extraordinary transactions including foreign exchange. Run a business? Choose a programme that lets you earn rewards on your business account as well. Having said that, maybe you do want to eat healthier or always have your finances in order – in which case you might want to choose a programme that encourages this behaviour.

Next, to really match a programme with your lifestyle, you need to take the time to understand your rewards programme. The simplest reward programmes lets you earn and spend your rewards in one environment. Are you prepared to go out of your way to earn points or do you want the flexibility of earning every time you shop?

Moving up a notch, some programmes allow you to earn rewards from various stores, but you only redeem the points at a single shop. This is all very well, but still limits your choice and may not be all that convenient.

Then, on to the big daddy of reward programmes; the one that not only allows you to earn points at multiple stores, but also spend your rewards in more than one shop, as well as online and by mobile. You may even be able to benefit from significant discounts on buying vouchers for certain retailers. This combination gives you both the maximum earning potential as well as the most opportunities to spend your hard earned rewards – making sure you get something you want or need.

But what about the fine print? As well as where you earn and spend your rewards, you need to understand how many reward points you actually get for each Rand you spend, and what this translates to in terms of discounts or buying power. What's more, check if there are minimum thresholds you need to reach before you can start spending or if you need to pay some form of a membership fee. And, do your points expire? This can prevent you from ever accumulating enough to buy that flight or holiday you had your eye on from the outset.

Speaking of using your rewards for something more expensive, find out whether you can pool your reward points with friends and family, and if so, is there a charge?

One last tip for those of us who love numbers: find out what the spend-to-earn ratio of the loyalty programme is. This indicates to what extent rewards are being spent, compared to what was earned each month. A higher percentage means more people are taking advantage of the programme and are really benefitting from it. Industry averages for developed countries are around 60-70% with some programmes, such as eBucks Rewards, as high as 80%. Any lower and it's likely that the programme is not that practical or beneficial.

The bottom line: if you do your homework, have a bit of patience and choose a loyalty plan that suits your normal shopping behaviour, you can really have your wallet bulge thanks to your increased spending power.

About eBucks:

eBucks, the rewards programme offered by First National Bank (FNB) and RMB Private Bank, is acknowledged as one of South Africa's leading rewards programmes with highly active members spending in excess of 80% of the eBucks earned in any given month.