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Greenmtnphantom 01-10-2014 11:46 AM

Rewards points
 
I've heard people having great luck squeezing a little extra bang out of a buck using cards with rewards points to buy every day stuff and paying them off monthly so you don't pay interest.

Whats your experience/take on it?

Falcon16 01-10-2014 11:53 AM

I say if your card offers rewards and you were going to buy something anyways with cash then why not buy it and take advantage of the rewards if you use them. Personally my CC is a basic classic Visa but it does offer me the one perk I really like which is double manufacturers warranty on the stuff I buy. I figure once I start traveling more or doing things that would accrue true reward points on the next tier of cards up from mine I'll upgrade.

Keys_JR 01-10-2014 12:04 PM

Quote:

Originally Posted by Greenmtnphantom (Post 2878248)
I've heard people having great luck squeezing a little extra bang out of a buck using cards with rewards points to buy every day stuff and paying them off monthly so you don't pay interest.

Whats your experience/take on it?

I do that exactly. My card has 1% cash back, I normally accrue enough to get about a hundred bucks back by the end of the year. And this is mostly on groceries only.

WilD 01-10-2014 12:20 PM

Yeah, most cards seem to offer 1% cash back on all purchases (mine does, plus an extra 1% on restaurants), so it's like a little discount on all the things I buy anyway. As long as you are paying your entire balance every month, it is a complete win.

BenoitOWN 01-10-2014 12:33 PM

One offer up to 1% cashback on everyday purchase(i think it take 2000-3000$ spent to get it)
2% on gaz
3% on restaurants
Got me 140$ back for 2013 :)

Costco membership is a 2% on all items, trying for first time but cost 50$ extra
Than regular membership

Airmiles I have yet to use them, give rewards or ''cash' within participating stores. I am thinking of switching to something else.

Euangelion 01-10-2014 01:12 PM

All of my cards have some kind of cash back or rewards points incentive, and since I normally pay them off every month its definitely the way to go.

The other nice thing about all of them is when added to my Amazon account I can apply those rewards directly to a purchase, so every day items add up to or cut the cost on things i normally wouldn't buy.

This past Xmas season I happily paid for a large portion of gifts with just accrued points.

senghing27 01-10-2014 01:15 PM

I use my card instead of running cash for items for various perks.
I have the chase freedom rewards card, this gives you 1% cashback and 5% on specialty categories during season.
I recently started using the Captial One Venture rewards card which is 2% back on everything with 0% interest which is sweet.

Here's a great website to check out.
Best Credit Cards | Compare Card Offers | NerdWallet

Kraus 01-10-2014 01:25 PM

I run the Amazon Visa card and I get about $10-15 a month to use on various things. I use my credit card for everything and pay it off every month.

MaD 01-10-2014 02:34 PM

We have a citi card that we let build up points throughout the year then use those for buying stuff at christmas. Can be used at Amazon so it's pretty easy. Also can order various gift cards on it including Visa / gas cards which we've also done.

If you buy stuff on ebay you're hopefully enrolled in the Ebay Bucks thing. It's not a lot but any free $ is good and it's nice to get a freebie every few months.

In the end though I still hate credit cards. One of the reasons a lot of cards / store cards give you discounts and rewards is people tend to buy more on credit than if paying straight cash. It also gives them loads of information they can sell / target advertise to you.

travis1581 03-06-2014 05:10 PM

I have a few different credit cards for this. 2 of them have rotating categories and the third is 3% for groceries, 2% for gas and 1% for everything else. Since my largest expense every month (other than rent) is groceries, I sided with this card rather than reversing the 2 & 3%. I keep a note on my phone with the two rotating category cards so I dont get confused. I manage anywhere between $300-$1000 a year just buying things I normally would. I usually use these rewards to buy gift cards for Christmas or giftcards for clothes.


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