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Do you normally take rewards in cash or statement credit?

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Steelersboy
Frequent Contributor

Do you normally take rewards in cash or statement credit?

Which is your preference? Straight cash or credit? I tend to like the cash in the bank.


If a man empties his purse into his head, no one can take it from him. An investment in knowledge always pays the best interest. - Benjamin Franklin |Capital One Quicksilver Cash Rewards|Chase Amazon Visa Rewards|BOA Cash Rewards|Commence MC| Citi Double Cash| Amazon Prime Store Card|Discover It|Chase Freedom|Chase Freedom Unlimited|Amex BCE|Wells Fargo Cash Wise|Barclays Cashforward
$89,500 total card credit FICO Equifax-823, FICO Transunion-774, FICO Experian-769, DTI-20.4%
Message 1 of 12
11 REPLIES 11
longtimelurker
Epic Contributor

Re: Do you normally take rewards in cash or statement credit?

They are hardly the only choices!   Many will take UR/MR/SPG points

 

And some cards give worse redemption rates for cash or statement credit (Citi TY cards for example)

Message 2 of 12
TsuSurf
Contributor

Re: Do you normally take rewards in cash or statement credit?

I always take cash.  I like seeing the money go in the bank.

Message 3 of 12
myjourney
Super Contributor

Re: Do you normally take rewards in cash or statement credit?

Show me the money oh my bad

(CASH)

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 4 of 12
Steelersboy
Frequent Contributor

Re: Do you normally take rewards in cash or statement credit?


@myjourney wrote:

Show me the money oh my bad

(CASH)


lol

 


If a man empties his purse into his head, no one can take it from him. An investment in knowledge always pays the best interest. - Benjamin Franklin |Capital One Quicksilver Cash Rewards|Chase Amazon Visa Rewards|BOA Cash Rewards|Commence MC| Citi Double Cash| Amazon Prime Store Card|Discover It|Chase Freedom|Chase Freedom Unlimited|Amex BCE|Wells Fargo Cash Wise|Barclays Cashforward
$89,500 total card credit FICO Equifax-823, FICO Transunion-774, FICO Experian-769, DTI-20.4%
Message 5 of 12
HiLine
Blogger

Re: Do you normally take rewards in cash or statement credit?

My cards that allow both options give me a bonus for depositing into the bank's checking/savings account, so I go that route Smiley Happy

Message 6 of 12
mikey78
Frequent Contributor

Re: Do you normally take rewards in cash or statement credit?


@HiLine wrote:

My cards that allow both options give me a bonus for depositing into the bank's checking/savings account, so I go that route Smiley Happy


I am thinking of opening a Chase Checking account since the Freedom card will give additional 10% per year if i'm a chase banker

I'm already a bofa banker since 97 so i think i'll go that route as well Smiley Happy


Current score TU 708, EX 686 EQ 715
Status I.T.Garden Till 08/2014
Message 7 of 12
HiLine
Blogger

Re: Do you normally take rewards in cash or statement credit?


@mikey78 wrote:

@HiLine wrote:

My cards that allow both options give me a bonus for depositing into the bank's checking/savings account, so I go that route Smiley Happy


I am thinking of opening a Chase Checking account since the Freedom card will give additional 10% per year if i'm a chase banker

I'm already a bofa banker since 97 so i think i'll go that route as well Smiley Happy


I bank with BofA too! Too bad they don't allow me to open a Merrill Lynch account or I would've moved my assets there and opened a Privileges card... Smiley Happy

Message 8 of 12
09Lexie
Moderator Emerita

Re: Do you normally take rewards in cash or statement credit?

@mikey78

The program with Chase has changed:



"What's changing on or about August 1, 2013:

...Starting on or about August 1, instead of earning 10% Extra Points per $1 spent, plus 10 Bonus Points on every purchase made with the card, you will now earn a 10% Annual Points Bonus on ALL POINTS earned on purchases, including the points earned in the 5% quarterly bonus categories..."
Message 9 of 12
FocusedAndDetermined
Senior Contributor

Re: Do you normally take rewards in cash or statement credit?

I will transfer some to svings, but I use the majority to purchase discount gift cards to the stores I frequent.  It's an additional savings over the cash back.

Message 10 of 12
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