I would love to switch to a cash-back card, but adding the extra layer of accounting I'm afraid that a few hundred bucks a year isn't worth the added complexity. If I could tie one to my online banking so I could continue to peg each individual purchase to a specific pile of money so I could continue to track my spending as I do with our debit cards I could buy in.
>$300 In Credit Card Cash Back: Good, Bad, or OK
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Originally Posted By: Mykl
I would love to switch to a cash-back card, but adding the extra layer of accounting I'm afraid that a few hundred bucks a year isn't worth the added complexity. If I could tie one to my online banking so I could continue to peg each individual purchase to a specific pile of money so I could continue to track my spending as I do with our debit cards I could buy in.
Are you talking something that analyzes how much spent on groceries, gas, etc. in a number of categories or something more complex than that? Most cards have some type of general spend analysis by month and year - I don't really use them much but I know Discover, Chase, and Amex all do.
I would love to switch to a cash-back card, but adding the extra layer of accounting I'm afraid that a few hundred bucks a year isn't worth the added complexity. If I could tie one to my online banking so I could continue to peg each individual purchase to a specific pile of money so I could continue to track my spending as I do with our debit cards I could buy in.
Are you talking something that analyzes how much spent on groceries, gas, etc. in a number of categories or something more complex than that? Most cards have some type of general spend analysis by month and year - I don't really use them much but I know Discover, Chase, and Amex all do.
Originally Posted By: 99Saturn
Are you talking something that analyzes how much spent on groceries, gas, etc. in a number of categories or something more complex than that? Most cards have some type of general spend analysis by month and year - I don't really use them much but I know Discover, Chase, and Amex all do.
Yeah, that's it. In the three minutes it takes me to log in I can tell you exactly how much money we've spent on groceries, gasoline, utilities, etc. over the course of whatever time period I specify.
Adding the extra report means having to check multiple sources and combining reports to get an accurate view of what's going on with my budget.... and I'm guessing that many of these cards don't offer the instant feedback I get from my online checking account.
Yeah, the extra cash would be pretty sweet, but I place such a high value on keeping things simple and easy when it comes to my finances that the reward would have to exceed a few hundred bucks a year.
Anyway, it's a system that works for me and my wife. I'm jealous if you can get the rewards of these cards and still easily stick to a specific budget.
Are you talking something that analyzes how much spent on groceries, gas, etc. in a number of categories or something more complex than that? Most cards have some type of general spend analysis by month and year - I don't really use them much but I know Discover, Chase, and Amex all do.
Yeah, that's it. In the three minutes it takes me to log in I can tell you exactly how much money we've spent on groceries, gasoline, utilities, etc. over the course of whatever time period I specify.
Adding the extra report means having to check multiple sources and combining reports to get an accurate view of what's going on with my budget.... and I'm guessing that many of these cards don't offer the instant feedback I get from my online checking account.
Yeah, the extra cash would be pretty sweet, but I place such a high value on keeping things simple and easy when it comes to my finances that the reward would have to exceed a few hundred bucks a year.
Anyway, it's a system that works for me and my wife. I'm jealous if you can get the rewards of these cards and still easily stick to a specific budget.
Originally Posted By: Mykl
Originally Posted By: 99Saturn
Are you talking something that analyzes how much spent on groceries, gas, etc. in a number of categories or something more complex than that? Most cards have some type of general spend analysis by month and year - I don't really use them much but I know Discover, Chase, and Amex all do.
Yeah, that's it. In the three minutes it takes me to log in I can tell you exactly how much money we've spent on groceries, gasoline, utilities, etc. over the course of whatever time period I specify.
Adding the extra report means having to check multiple sources and combining reports to get an accurate view of what's going on with my budget.... and I'm guessing that many of these cards don't offer the instant feedback I get from my online checking account.
Yeah, the extra cash would be pretty sweet, but I place such a high value on keeping things simple and easy when it comes to my finances that the reward would have to exceed a few hundred bucks a year.
Anyway, it's a system that works for me and my wife. I'm jealous if you can get the rewards of these cards and still easily stick to a specific budget.
Use Mint.com. Far more powerful and totally free. Works across all your banks, CCs, brokerage, etc.
Originally Posted By: 99Saturn
Are you talking something that analyzes how much spent on groceries, gas, etc. in a number of categories or something more complex than that? Most cards have some type of general spend analysis by month and year - I don't really use them much but I know Discover, Chase, and Amex all do.
Yeah, that's it. In the three minutes it takes me to log in I can tell you exactly how much money we've spent on groceries, gasoline, utilities, etc. over the course of whatever time period I specify.
Adding the extra report means having to check multiple sources and combining reports to get an accurate view of what's going on with my budget.... and I'm guessing that many of these cards don't offer the instant feedback I get from my online checking account.
Yeah, the extra cash would be pretty sweet, but I place such a high value on keeping things simple and easy when it comes to my finances that the reward would have to exceed a few hundred bucks a year.
Anyway, it's a system that works for me and my wife. I'm jealous if you can get the rewards of these cards and still easily stick to a specific budget.
Use Mint.com. Far more powerful and totally free. Works across all your banks, CCs, brokerage, etc.
Originally Posted By: Mykl
Originally Posted By: 99Saturn
Are you talking something that analyzes how much spent on groceries, gas, etc. in a number of categories or something more complex than that? Most cards have some type of general spend analysis by month and year - I don't really use them much but I know Discover, Chase, and Amex all do.
Yeah, that's it. In the three minutes it takes me to log in I can tell you exactly how much money we've spent on groceries, gasoline, utilities, etc. over the course of whatever time period I specify.
Adding the extra report means having to check multiple sources and combining reports to get an accurate view of what's going on with my budget.... and I'm guessing that many of these cards don't offer the instant feedback I get from my online checking account.
Yeah, the extra cash would be pretty sweet, but I place such a high value on keeping things simple and easy when it comes to my finances that the reward would have to exceed a few hundred bucks a year.
Anyway, it's a system that works for me and my wife. I'm jealous if you can get the rewards of these cards and still easily stick to a specific budget.
I can't really comment as to feedback on the reports as I don't use them, other than glancing at the end of the year and saying, wow we spent a lot on gas
. I can tell you while I was logging in to make sure all three I mentioned had some type of report, I noticed at least 1 (Discover I believe) went through today for the report date. I am sure there is a few day lag with the date the transaction posts.
From your comments, I'm assuming though there may be some things that you wouldn't be able to pay with a CC (mortgage, taxes, car payment and utilities are all on my list on non-credit card expenses) but you can pay them from a bank account, so all the reporting is in one place.
Makes sense to me as long as it works for you. There is definitely a value in it being something you are comfortable and happy with. IMO running out after the next best thing (next cash back opportunity) isn't always the best either.
We probably get ~$200 in cash back for gas a year, but we drive 40,000 miles just going to work, so it works for us. Anyway, I originally just wanted to point out some cards have those reports in case you didn't know but I get it. Long winded post over.
And I saw dparm's post that sounds interesting.
Originally Posted By: 99Saturn
Are you talking something that analyzes how much spent on groceries, gas, etc. in a number of categories or something more complex than that? Most cards have some type of general spend analysis by month and year - I don't really use them much but I know Discover, Chase, and Amex all do.
Yeah, that's it. In the three minutes it takes me to log in I can tell you exactly how much money we've spent on groceries, gasoline, utilities, etc. over the course of whatever time period I specify.
Adding the extra report means having to check multiple sources and combining reports to get an accurate view of what's going on with my budget.... and I'm guessing that many of these cards don't offer the instant feedback I get from my online checking account.
Yeah, the extra cash would be pretty sweet, but I place such a high value on keeping things simple and easy when it comes to my finances that the reward would have to exceed a few hundred bucks a year.
Anyway, it's a system that works for me and my wife. I'm jealous if you can get the rewards of these cards and still easily stick to a specific budget.
I can't really comment as to feedback on the reports as I don't use them, other than glancing at the end of the year and saying, wow we spent a lot on gas
From your comments, I'm assuming though there may be some things that you wouldn't be able to pay with a CC (mortgage, taxes, car payment and utilities are all on my list on non-credit card expenses) but you can pay them from a bank account, so all the reporting is in one place.
We probably get ~$200 in cash back for gas a year, but we drive 40,000 miles just going to work, so it works for us. Anyway, I originally just wanted to point out some cards have those reports in case you didn't know but I get it. Long winded post over.
And I saw dparm's post that sounds interesting.
Originally Posted By: 99Saturn
I can't really comment as to feedback on the reports as I don't use them, other than glancing at the end of the year and saying, wow we spent a lot on gas
. I can tell you while I was logging in to make sure all three I mentioned had some type of report, I noticed at least 1 (Discover I believe) went through today for the report date. I am sure there is a few day lag with the date the transaction posts.
From your comments, I'm assuming though there may be some things that you wouldn't be able to pay with a CC (mortgage, taxes, car payment and utilities are all on my list on non-credit card expenses) but you can pay them from a bank account, so all the reporting is in one place.
Makes sense to me as long as it works for you. There is definitely a value in it being something you are comfortable and happy with. IMO running out after the next best thing (next cash back opportunity) isn't always the best either.
We probably get ~$200 in cash back for gas a year, but we drive 40,000 miles just going to work, so it works for us. Anyway, I originally just wanted to point out some cards have those reports in case you didn't know but I get it. Long winded post over.
And I saw dparm's post that sounds interesting.
Yes, Mint will basically scrape your account details for banks, credit cards, brokerages, etc. It then gives you a lot of reporting, planning, and budgeting tools (it's owned by Intuit). They've also worked out some partnerships with financial organizations to make "suggestions" on how to save money on bank fees, etc.
It is an immensely powerful tool. I've been using it for a few years now.
I can't really comment as to feedback on the reports as I don't use them, other than glancing at the end of the year and saying, wow we spent a lot on gas
From your comments, I'm assuming though there may be some things that you wouldn't be able to pay with a CC (mortgage, taxes, car payment and utilities are all on my list on non-credit card expenses) but you can pay them from a bank account, so all the reporting is in one place.
We probably get ~$200 in cash back for gas a year, but we drive 40,000 miles just going to work, so it works for us. Anyway, I originally just wanted to point out some cards have those reports in case you didn't know but I get it. Long winded post over.
And I saw dparm's post that sounds interesting.
Yes, Mint will basically scrape your account details for banks, credit cards, brokerages, etc. It then gives you a lot of reporting, planning, and budgeting tools (it's owned by Intuit). They've also worked out some partnerships with financial organizations to make "suggestions" on how to save money on bank fees, etc.
It is an immensely powerful tool. I've been using it for a few years now.
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