Credit Card Rebate is a Welcome Bonus
I’ve heard good arguments for getting rid of credit cards completely and never using them again. But one of the things that I do like about them (in addition to the convenience) is the cash back programs that are offered by most companies now.
Some cards offer up to 5% off on certain types of transactions. That is a great deal, but I find that they are more hassle than they are worth. In nearly every case, the higher rebate percentage only applies to certain categories of transactions, while everything else earns a 1% rebate. Some other blogs I read have details on how to get the highest rebate using some combination of credit cards.
For myself, I just have a simple USAA credit card that gives me 1.5% cash back on all charges, regardless of the category. I’m a little tempted to look into something with a higher rebate, but I just like the simplicity of this one. Anyway, I just received the year end statement that included the $314.42 rebate. That means that we spent almost $21k this year on the credit card. That seems like a lot, but I am putting most of our monthly bills (phone, electricity, etc) on it now. Also, when we bought our van a few months ago, we put $3,000 on the credit card just to earn the $45 rebate it provided. All in all I’m just happy to say that the credit card is paying me money, instead of the other way around.
1.5% on everything is really a pretty good deal. We just happen to spend a lot in the Freedom Card categories that give 3% back. We still won’t make as much as you because we don’t spend that much.
February 6th, 2008 at 9:29 amI guess it depends on how you use your credit card. I tend to put everything I can on it because I rarely have much cash with me.
Also, thanks for adding me to your blogroll
I just noticed it.
Thanks,
February 6th, 2008 at 2:41 pmOdnal