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| jasonr114 |
 Posted: Sat Mar 12, 2005 3:55 pm Post subject: |
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Investing Associate
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I highly recommend using your credit card for ALL your purchases. I have a variety of credit cards (20+) and I find the rewards offers to great to resist!
HOWEVER --> I always pay off my balance in FULL and do not spend more than I normally would.
I have two MBNA cards that earn 10% rewards on $250 of purchases per month. Using these cards to pay my for my cell phone, cable bill, dsl, home phone, gym bill, gas, groceries purchases SAVES me at least $25 per month. These are ALL on pruchases I would make every month.
I use a Citi 1% back card to pay my graduate tution, it is nice to get $9 back for each $900 class that my employer is going to reimburse me for anyways.
Other cards (like discover) have a variety of "promo" cash back offerings that can net you savings when making purchases when buying things through particpating vendors.
When you consider that credit card purchases are also "disputable" with the cc company when things go bad - the benefits are even greater.
They often provide a VERY easy way to TRACK your day-to-day purchases -- leaving a "paper trail" so you can REALLY see where all your money goes. |
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| thekingofspain |
| Posted: Sat Mar 12, 2005 8:00 pm Post subject: |
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New Poster
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| Credit cards are the means to financial success if one is displined with there money. You delay payment of your transactions for month or so with is a plus. You can earn at least 1% rebate on every purchase. I have been using a AAA credit card with 5% off gas for the last and lovin it. |
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| thrilla |
| Posted: Fri Mar 18, 2005 7:52 am Post subject: |
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Investing Sr. Associate
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| thekingofspain wrote: | | Credit cards are the means to financial success if one is displined with there money. You delay payment of your transactions for month or so with is a plus. You can earn at least 1% rebate on every purchase. I have been using a AAA credit card with 5% off gas for the last and lovin it. |
Great post, I completely agree with this statement. With discipline, reward/rebate credit cards can be an essential part of financial success for any person. Without discipline, they can lead to financial ruin. This applies to many aspects of finance. |
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| tylr |
| Posted: Sun Mar 20, 2005 5:19 am Post subject: |
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Investing Associate
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| Most reward CCs have an annual limit for cashback or reward points. So besides the points already mentioned which are not carrying a balance and being disciplined in spending, also keep track of the limits and switch to other 'rewards' cards after reaching the limit on each would maximize your total earnings for the year. |
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| InvestingMac |
| Posted: Sun Mar 20, 2005 6:58 am Post subject: |
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Investing Manager
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| As a few people have already mentioned, the reward cards can be great as long as you make sure that you aren't getting hit with the interest. If you pay off the balance you will have the full benefit of the rewards. Over a years time all of those 1% rewards can add up, and even a few hundred or a few thousand dollars off of a big purchase can help. (I have a GM card) |
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