Thanks to this board! (pay, credit, charge, dollars)
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About a year ago, based on all you helpful posters here, I quit using my debit card and got a Citibank Double Cash rewards card. Haven’t made any big purchases with it, basically just groceries, dining out and gas, but I’ve amassed $280.00 in rewards.
Just messing. Welcome to the game, you can always expand your game to earn more, sign up bonuses and leverage redemption if you are responsible about it and/or care to do so
Congratulations on getting control of your finances. You will find it addicting to watch those cash back amounts add up. When I buy something now, I mentally discount the amount by my cash back.
Great job! My latest credit card reward bonus was for Chase freedom flex. My car insurance was up for renewal so that met the spending requirement to get an easy 200.
It has 3% in restaurants spending which replaced the capital one savor I cancelled.
About a year ago, based on all you helpful posters here, I quit using my debit card and got a Citibank Double Cash rewards card. Haven’t made any big purchases with it, basically just groceries, dining out and gas, but I’ve amassed $280.00 in rewards.
Thanks!
Be careful about thinking that you are SAVING money by spending money. Granted, there are a variety of ways of paying for things, but it's possible to spend your way into the poor house by thinking of how much money you just saved by your last purchase.
Spending $100 just to save $3 is a false illusion of saving unless you just absolutely positively HAD to spend that money. Eating out is not something that HAS to be done under most circumstances. And even groceries and gas money is not always for necessities. Much of it can be wasteful.
I don't mean to sound like a Scrooge, but "saving" means reducing the amount you spend, not getting some trivial amount back after you've already spent it. There's an old joke about the wife who came home from shopping with her arms filled with bags of new clothing and accessories. When her husband asked how much all those clothes and things cost, she replied "Oh Honey, I just saved us over $300 because everything was priced at half off."
Be careful about thinking that you are SAVING money by spending money. Granted, there are a variety of ways of paying for things, but it's possible to spend your way into the poor house by thinking of how much money you just saved by your last purchase.
Spending $100 just to save $3 is a false illusion of saving unless you just absolutely positively HAD to spend that money. Eating out is not something that HAS to be done under most circumstances. And even groceries and gas money is not always for necessities. Much of it can be wasteful.
I don't mean to sound like a Scrooge, but "saving" means reducing the amount you spend, not getting some trivial amount back after you've already spent it. There's an old joke about the wife who came home from shopping with her arms filled with bags of new clothing and accessories. When her husband asked how much all those clothes and things cost, she replied "Oh Honey, I just saved us over $300 because everything was priced at half off."
I’m not buying anything I wasn’t already buying. Pay it off in full every month. I think I’ve got my finances in pretty good order. Don’t owe anybody a dime - no mortgage, no car payments, no nothin’. Retired and living quite comfortably.
I’m not buying anything I wasn’t already buying. Pay it off in full every month. I think I’ve got my finances in pretty good order. Don’t owe anybody a dime - no mortgage, no car payments, no nothin’. Retired and living quite comfortably.
Yup you're in a great spot to be using credit card rewards to your benefit. You're being rewarded for your good use of credit tools.
Late 2019 I was renovating a home in preparation to moving into it. I opened 2 credit cards to get their sign up bonuses and charged all the renovations costs . I paid off everything at the end of the billing cycle and incurred zero finance costs but earned over 1k in sign up bonuses and cash back. Those rewards add up pretty quickly.
We've been using the Double Cash card for a few years now for all of our credit card purchases. The 2% cash back is nice.
Citi also offers a Custom Cash card that gives you 5% back on ONE category of purchases each month. THe category is whichever one you spent the most each monthly cycle.
We got the card, got the initial bonus for spending x dollars within a certain timeframe, and now we use it strictly for grocery shopping so we get 5% back on our food purchases.
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