>$300 In Credit Card Cash Back: Good, Bad, or OK

Status
Not open for further replies.
gathermewool

gathermewool

Site Donor 2023
Joined
Jan 9, 2009
Messages
10,193
Location
New England
So far, I don't think I've paid a single cent in interest payments for my credit card (usually paid off bi-weekly,) and have accrued > $300 in statement credits this year.

Amazon card:

3 points for every dollar spent on Amazon.com
2 points for fuel, dining, etc.
1 point for everything else

1 point = $0.01 (so, 3% back on amazon, 2% back...)

I use my credit card for just about everything I possibly can, and only make a point to pay cash for certain things, such as:

1. Tipping

2. Cash deals

3. Local businesses for smaller purchases, and similar

When I travel it's usually for work. I don't vacation often or fly/travel for fun much, so frequent flyer miles and the like haven't been very appealing to me, though I'm open to other incentives; however, it is tough to beat a statement credit each and every month based on how much I've accrued in the preceding month.


I'm curious to see what/how others are doing.
 
Last edited:
Same way. I've made tons of cash from Chase Rewards over the past few years, typically a few hundred bucks a year.

I also use an Amex for travel (which I do a lot of) so I've got almost 100k points there, which I can use for gift cards/Amazon credit/airline miles/etc. Never cashed them in...but probably should. They have some good promos for bonus points and such.
 
Originally Posted By: dparm
Same way. I've made tons of cash from Chase Rewards over the past few years, typically a few hundred bucks a year.

I also use an Amex for travel (which I do a lot of) so I've got almost 100k points there, which I can use for gift cards/Amazon credit/airline miles/etc. Never cashed them in...but probably should. They have some good promos for bonus points and such.


I'll have to check out AMEX. Discover was offering some good rewards for a while, but then I found the Chase Amazon card and it was tough not to switch.

I wish I could opt out of my company travel card and pay for all of my travel expenses on my own card. Stupidly, I only recently signed up for rental and air line member programs to take advantage of their rewards!
 
Last edited:
Penfed Platinum Rewards for 5% on gas; 3% at Grocery Stores
Amex Blue - 3% grocery stores
Fidelity CC - 2% on everything
Discover for the Discover mall categories - ran up some bills when Home Improvement was up for grabs
smile.gif


I also wish my job let me use my own card for work, rather than the corporate amex.
 
+ 1 for Chase.. i easily earn a few hundred a year on their program.. and ive never paid a penny in interest.
 
Originally Posted By: gathermewool
Originally Posted By: dparm
Same way. I've made tons of cash from Chase Rewards over the past few years, typically a few hundred bucks a year.

I also use an Amex for travel (which I do a lot of) so I've got almost 100k points there, which I can use for gift cards/Amazon credit/airline miles/etc. Never cashed them in...but probably should. They have some good promos for bonus points and such.


I'll have to check out AMEX. Discover was offering some good rewards for a while, but then I found the Chase Amazon card and it was tough not to switch.

I wish I could opt out of my company travel card and pay for all of my travel expenses on my own card. Stupidly, I only recently signed up for rental and air line member programs to take advantage of their rewards!



I use Amex because the company requires us to. If they didn't, I'd have taken out a Starwood or Southwest credit card.

And yeah, I am a baller when it comes to frequent traveler programs: Southwest A List Preferred, Starwood Platinum-75, Marriott Silver, Hilton Gold, and Hertz President's Circle. Haven't paid for a vacation since I started the job and had so many points I even sent my parents on vacation.
 
My family uses the Amazon card. What is real nice is home heating fuel which is a $2800 purchase /year alone counts as 2% kick.

We seem to earn about $500-650/year in kick backs.

For life simplicity we charge everything we can, and pay two checks at end of month:

Mortgage & Credit card

When I travelled for work it was nice getting those perks. However now you really pay dearly with real security at airports, delays, and overcrowded planes. When I last travelled for work I used to swipe my credit card at gate with no id or real security check and hop a commuter to DC or NYC from Boston.
 
My cards seem to max out at $300/ year in cash back so it's worth carrying a couple.

For example there's an ad for a bank of america rewards card that's good for a few percent on gas and groceries but maxes out at $1500 worth of purchases per quarter, so that might get you $30 or so per quarter.
21.gif


Right after the 2007 collapse, Chase had money to lend, and they gave my wife and myself $390 just to sign up for various cards and use them once. Finally, the unsolicited mail stopped.
lol.gif
 
Sallie Mae Barclaycard MasterCard (just picked it up to outdo my PenFed and Amex)

5% groceries
5% gas
5% books (yeah?)
1% everywhere else

I still like how PenFed credits each billing cycle automatically and will likely keep that around for gas only. I was about to cancel when they changed their terms, but ended up only having to open a $20 MMA to keep it fee free.
 
Originally Posted By: surfstar
Sallie Mae Barclaycard MasterCard (just picked it up to outdo my PenFed and Amex)

5% groceries
5% gas
5% books (yeah?)
1% everywhere else

I still like how PenFed credits each billing cycle automatically and will likely keep that around for gas only. I was about to cancel when they changed their terms, but ended up only having to open a $20 MMA to keep it fee free.


Tempting for the 5% on groceries...hmmm. Sort of annoying that it looks like only the first $250 in each category qualifies monthly for the 5%.
 
Originally Posted By: 99Saturn

Tempting for the 5% on groceries...hmmm. Sort of annoying that it looks like only the first $250 in each category qualifies monthly for the 5%.


Yeah, I'm single so I don't hit that max!

If you're one to max rewards, after the $250 limit, you'd switch to the Amex for 3%.
I've pulled my Amex from my wallet and only use it for online purchases now. Hate having so many cards!
 
Originally Posted By: surfstar
Originally Posted By: 99Saturn

Tempting for the 5% on groceries...hmmm. Sort of annoying that it looks like only the first $250 in each category qualifies monthly for the 5%.


Yeah, I'm single so I don't hit that max!

If you're one to max rewards, after the $250 limit, you'd switch to the Amex for 3%.
I've pulled my Amex from my wallet and only use it for online purchases now. Hate having so many cards!


+1 on the numerous card. I think the gf and I do a good job maximizing rewards but it's annoying to have such a variety around. We'd hit the cap on gas definitely, it was just more of a thought about needing to watch it monthly.

I've been reading about what's going on with the Penfed cards(I have one but have not received notice of any changes on mine yet) but just saw the pricing in the "rewards mall" has changed no longer being 1 point for $.01, so now I'm really glad you pointed this one out.
 
Originally Posted By: dparm
Southwest A List Preferred...


I don't fly more than 1-2 times a year, but its always Southwest. And always on points.

I use a Chase Southwest Visa for everyday expenses. I also keep an eye on Southwest's site and watch for their Rapid Rewards shopping partners to have "specials", such as Sears who recently offered 9 points for every dollar spent online.
 
Sounds like I really need to start looking around again.

Originally Posted By: Miller88
I really need to look into this. I use the credit card for EVERYTHING (but pay it off weekly).


I had to convince my wife (before we were married) to quit using her debit card for everything. She wasn't getting any rewards for using it.
 
Originally Posted By: gathermewool
Sounds like I really need to start looking around again.

Originally Posted By: Miller88
I really need to look into this. I use the credit card for EVERYTHING (but pay it off weekly).


I had to convince my wife (before we were married) to quit using her debit card for everything. She wasn't getting any rewards for using it.



I also use my credit cards for stuff like the free extended warranties. Did it for my iPhone 5S last month -- basically saved me $99 over the AppleCare.

But yeah, if you're not making money off your credit cards, don't bother having any cards.
 
We use a Discover card for almost everything. It's usually 5% cash back on *something* for a quarter, either groceries or gas or something else. I think it's 1% on everything else. In the end, it probably averages to 2% or 3% cash back.

We collect $50 in rewards cash every few months or so. So it's a few hundred bucks a year.
 
Status
Not open for further replies.

Similar threads

P
Maximizing credit card rewards
2
Replies
28
Views
2K
99Saturn
Brons2
Airline card credit card annual fees, wow $495?
2
Replies
30
Views
566
Cujet
A
How and when do you pay your property taxes?
2 3 4
Replies
68
Views
3K
John105
B
Havoline Lifelong Pro-DS Lifelong 6 qt Box. iBotta -or- Walmart Cash Rebate. $3 back Limit 2 Per Receipt.
Replies
6
Views
1K
Artem
D
Discount Tire Credit card My Synchrony rant
2
Replies
37
Views
3K
dlundblad
Back
Top