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Just to gain rewards!

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L-TWT
Established Contributor

Just to gain rewards!

Regardless if you have the ability to PIF your CC each month, do you find yourself spending more to capitalize on rewards (i.e, cash back/points)? I think I do, and when i calculate my gains to that of what the CCC's make each time i use their card, I start to wonder if reward cards are really worth itSmiley Indifferent


Message 1 of 14
13 REPLIES 13
creditnocash
Valued Contributor

Re: Just to gain rewards!

1% on everything back is better than 0% on everything. 

 

or vise versa. taking the time to plan it out is your choice. 



Current: Fico ScoresEQ~706 TU~719 EX 709 4/28/23

Inquiries (24 Months): EQ 0 TU 0 EX 0| Most Recent: A LONG WHILE
Over 12 Months:0


2023 Goals:
Buy A Home
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000

Message 2 of 14
Anonymous
Not applicable

Re: Just to gain rewards!

I


@L-TWT wrote:

Regardless if you have the ability to PIF your CC each month, do you find yourself spending more to capitalize on rewards (i.e, cash back/points)? I think I do, and when i calculate my gains to that of what the CCC's make each time i use their card, I start to wonder if reward cards are really worth itSmiley Indifferent


I can't say that ill go out of my way to use the card in order to gain points (Only during sign up bonuses). i use the card for things I would purchase everyday with cash and only will use the card if I have the actual amount of cash to pay it off. 

Message 3 of 14
jsickz32
Valued Contributor

Re: Just to gain rewards!

im the worst when it comes to rewards....

Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
Message 4 of 14
kimmiller112
Frequent Contributor

Re: Just to gain rewards!

I like having rewards cards but I don't spend any more than I normally would just to get rewards.  I do plan out the cards I will be using especially when the Chase and Discover categories are ones I use.

Barclays USAir World MC $8300 - DCU $7500 - USAA World MC $7000 - PayPal Extras MC (GE) $5500 - Chase Saphire Preferred $5000 - Discover It $6000 - Barclays Sallie May $2700 - Chase Freedom $1000 - Capital One $8500 (business) - store cards ranging from $500-$9500
Message 5 of 14
Imua
Frequent Contributor

Re: Just to gain rewards!


@L-TWT wrote:

Regardless if you have the ability to PIF your CC each month, do you find yourself spending more to capitalize on rewards (i.e, cash back/points)? I think I do, and when i calculate my gains to that of what the CCC's make each time i use their card, I start to wonder if reward cards are really worth itSmiley Indifferent


i don't spend any more (as in buying something i wouldn'thave bought anyway) but i do pay for some things via a rewards card that i used to pay by check (e.g. nursing license renewal, car insurance premium every 6 months, annual car registration)

Message 6 of 14
webhopper
Moderator Emeritus

Re: Just to gain rewards!

I found myself doing that with credit cards and overspending. Smiley Sad. Which is why I switched to a charge card.
FICO 9:
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.

Goal: Gardening!


Message 7 of 14
pt2005
Regular Contributor

Re: Just to gain rewards!

I think cash rewards definitely help if you plan it right and of course if you spend because you need to spend, not because you want to see the rewards.

Since early Oct, I collected $38 from Discover More, $40 from Cap1, $47 from AMEX TrueEarnings, and $46 from Chase Freedom. Total almost $200 for 2 months.

 

I spent about 8 past years using my ATM card only and that was my big mistake IMO. Not only did I not build my credit, but never got any cash back.

FICO Scores 8: EX 731, EQ 731, TU 725

Credit Cards: Chase Freedom 9.5K | AMEX TrueEarnings 4.5K | Cap1 Venture Visa 3.5K | Cap1 QS MC 3.5K | Discover IT 1K | Cap1 Spark Cash 15K | AMEX SimplyCash 9K

Store: PayPal SmartConnect 10K | JCP 5.2K | Banana 3.3K | Walmart 4.5K | Kohls 1.5K | TargetRED 200
Message 8 of 14
distantarray
Established Contributor

Re: Just to gain rewards!

careful with reward cards mainly because if you carry a balance all the rewards are gone! through apr Smiley Tongue


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 9 of 14
creditnocash
Valued Contributor

Re: Just to gain rewards!


@distantarray wrote:

careful with reward cards mainly because if you carry a balance all the rewards are gone! through apr Smiley Tongue


be a pifuller. 

i treat all my cards like charge cards. 

except my best buy because its 0% for two years anyways. 

and all my new cards are 0% until july and august. 



Current: Fico ScoresEQ~706 TU~719 EX 709 4/28/23

Inquiries (24 Months): EQ 0 TU 0 EX 0| Most Recent: A LONG WHILE
Over 12 Months:0


2023 Goals:
Buy A Home
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000

Message 10 of 14
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