To each their own I guess. Money matters to me, getting 2 to 5% back every month for EVERYTHING I purchase in life is
very significant.
I can take it in cash, I can let it accumulate. I mean, if you dont care about money that's ok too. But I wouldnt call into question people who like a nice return on their money. It's a hobby for my wife and I.
I let the money accumulate in my main 2 accounts and recently now a third. The small ones I just cash right away. The money I accumulate in the large amounts I treat myself to something though lately not sure what else I need.
My wife also holds her own accounts in her name and she collects cash back, we use specific cards between us for the full 5%.
Such as right now, I get off 5% every time we eat out for dinner and 5% cash back at Sam's Club on one card for quarter.
Another card is 5% cash back on Amazon and Lowes.
Another card is 3% on groceries.
We use my wife's cash back card for 5% on gasoline. Her actually floats to the most used category in the billing period, so we use it for whatever I dont get 5% back on.
THEN we both have 2% cash back to default on with two other cards.
We are not poor by any means, at the same time we like to use all systems allowed to save money. We dont have so much that we feel we can throw it away and that is what we feel if we dont take the money corporations are offering us, for free! WE NEVER, EVER, EVER, EVER run a balance. Always pay in full every month.
I mean, this is just 2 of my largest cards with cash back on them, I have smaller amounts on others and my wife has her own. The smaller cards total about $300 in cash back on them. Since they are smaller amounts I sometimes take bill credits on it.
If someone offers you $1,183.00 for free, you're not going to accept it? (ONE THOUSAND ONE HUNDRED EIGHTY THREE DOLLARS) On just two of my cards. The biggest banks in the country offer this to you and people say no to it?
I understand not everyone has the self control and that is the danger, they know most dont pay the entire bill every month. But if your one who does, then use the system, its there and its free.
My two main cards cash back that I let accumulate (for about a year at a time, sometimes more, I dont keep track of time) until I have something I really want for myself as a free gift or even investment.
Discover card - $538.38
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Citi Card $645.44
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