How much cash back do you earn a year?

[longtimelurker]

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@newUser0 wrote:

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@longtimelurker wrote:

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@dearppl wrote:

Just out of curiousity, how much cash back are you guys earning a year? I think it was around $300 more or less for me last year.

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There are at least three different classes of cashback:

1) Cashback through regular spending.  (I bought this stuff as I usually would, and my card gave me cashback)

2) Signup bonuses (I get the card, meet minimum spend, and may or may not use the card again)

3) Manufactured spend (I buy (near) cash equivalents, get the points, convert to cash, pay the credit card, and repeat)

In general 1 << 2 << 3

so as a fairly light MS user, I got ~ $10K on one card (of which $2K was expense).  Others do much more.

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Just curious, was this card Amex BC?

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No, it was the Citi 5x TYP.   Using the BC more lightly at first.

[MoreRewards]

Last year over $400. I think it was $410.10.

This year I hope to do more. I didn't get a some of my cards until near the end of the year. I also didn't really get into maximizing bonuses until mid year.

[dearppl]

Did you consider the "opportunity cost" for the manufactured spending? Instead of using the prepaid visa to pay for expenses, you could be getting maybe 2% using your credit card. But, agree with you, it's still a good deal when you get 5% back even taking the opportunity cost into consideration.

[09Lexie]

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@dearppl wrote:

Did you consider the "opportunity cost" for the manufactured spending? Instead of using the prepaid visa to pay for expenses, you could be getting maybe 2% using your credit card. But, agree with you, it's still a good deal when you get 5% back even taking the opportunity cost into consideration.

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[takeshi74]

Going to take some digging to get an actual total.  I can easily find $466 but that's not everything.

[longtimelurker]

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@dearppl wrote:

Did you consider the "opportunity cost" for the manufactured spending? Instead of using the prepaid visa to pay for expenses, you could be getting maybe 2% using your credit card. But, agree with you, it's still a good deal when you get 5% back even taking the opportunity cost into consideration.

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Not quite sure what you mean here.  There are two common models:

1) Paying rent/mortgage etc, with bluebird/serve etc

2) Cashing out  giftcards via money order or similar

The whole point of 1) is to do this when you CAN'T use a credit card to pay or to get additional category bonuses.   

In 2) the prepaid cards aren't used for purchases at all, just to convert to cash.

I agree there would be an opportunity cost if you merely bought gift cards and used them for purchases but precisely for those reasons, I don't think it is common.  (With the possible exception of Amex Gift Cards bought through cashback portals)

[Blackbeauty212]

I will bank roughly ~700$ year Cash Back on my Cap One QS... 

Guys, I've gotten way too tired of playing Rotating Cats or Targeted Cats games, while having to manage 5-6 cards a month just for maximizing 5% Cashbacks (after a while it really does become exhausting)... I guess I really brought into those Samuel L Jackson commericals.... I wanted ONE card that gains me Cash Back on all spending.

My QuickSilver is my Auto Bill Payments "Catcher" card, if you will. I route roughly $2K worth of Monthly Bills throught it, I have set up all my Auto Pays to Push to the Card within a 2 week window so that I can always PIF before the statement cut, so a 0$ balance always reports to the CRAs.

[-NewGuy-]

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@Blackbeauty212 wrote:

I will bank roughly ~700$ year Cash Back on my Cap One QS... 

Guys, I've gotten way too tired of playing Rotating Cats or Targeted Cats games, while having to manage 5-6 cards a month just for maximizing 5% Cashbacks (after a while it really does become exhausting)... I guess I really brought into those Samuel L Jackson commericals.... I wanted ONE card that gains me Cash Back on all spending.

My QuickSilver is my Auto Bill Payments "Catcher" card, if you will. I route roughly $2K worth of Monthly Bills throught it, I have set up all my Auto Pays to Push to the Card within a 2 week window so that I can always PIF before the statement cut, so a 0$ balance always reports to the CRAs.

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I am with you to be honest. I don't use more than three cards, and 99% of everything goes on a CSP or Freedom. I just have no desire to manage more than that. But I do love me the UR shopping portal.

[Josh2942]

probalby around 300. Capital One, Chase, and AmEx are bread winners