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Frequent Contributor
L-TWT
Posts: 290
Registered: ‎12-18-2011
0

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 it:smileyindifferent:

Portfolio: Amex BCE (21.6k) | Cap1 QS VS (15k) | Citi Dividend WEMC (30K)

"Having a credit card is nice, but cash is king"
Valued Contributor
creditnocash
Posts: 2,195
Registered: ‎07-23-2012
0

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: Discover Fico 689 7/14 Walmart Fico 697 8/14

Inquiries (24 Months): EQ 6 TU 3 EX 4 | Most Recent: 09/04/2013
2 Inquiries in The Last 12 Months


2014 Goals:
Lower Utility

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Contributor
toiletbowl69er
Posts: 106
Registered: ‎11-08-2012
0

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 it:smileyindifferent:


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. 

Capital One Platinum MasterCard | $2,000 | 05/08
Macy's Store Card | $1,500 | 09/09
Chase Freedom Visa | $3,100 | 11/11
Discover It | $750 | 03/12
American Express BCE | $1,000 | 11/12
Chase SP Visa Signature | $8,000 | 12/12
Valued Contributor
jsickz32
Posts: 1,987
Registered: ‎06-25-2012
0

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)
Frequent Contributor
kimmiller112
Posts: 467
Registered: ‎04-09-2012
0

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 $5000 - Barclays Sallie May $2700 - Chase Freedom $1000 - Capital One $8500 (business) - store cards ranging from $500-$9500
Frequent Contributor
Imua
Posts: 291
Registered: ‎01-17-2009
0

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 it:smileyindifferent:


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)


BofA visa $9.4k ... BofA Cash Rewards visa sig $10k ... Cap 1 Venture1 visa sig $10k ...
Chase Freedom visa $10k ... Macy's $1.5k ... Macy's Amex $5k ... Sam's Club $6.3k
myFICOs as of 3/25/14:...EX=809 .... EQ=802....TU=787
Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: Just to gain rewards!

I found myself doing that with credit cards and overspending. :smileysad:. Which is why I switched to a charge card.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Regular Contributor
pt2005
Posts: 129
Registered: ‎10-12-2012
0

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: EX 744 (Quizzle), myFICO EQ 675, myFICO TU 708
Credit Cards: Chase Freedom 7k | Cap1 Spark Cash 5.5k | AMEX TrueEarnings 4.5k | Cap1 Cash Visa 3.5k | Cap1 Cash MC 3.5k | AMEX SimplyCash 3K | Discover IT1k
Store: PayPal SmartConnect 5k | JCP 4.2k | Banana 3k | Walmart 2.2K | Kohls 1500 | TargetRED 300
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Just to gain rewards!

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


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Valued Contributor
creditnocash
Posts: 2,195
Registered: ‎07-23-2012
0

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 :smileytongue:


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: Discover Fico 689 7/14 Walmart Fico 697 8/14

Inquiries (24 Months): EQ 6 TU 3 EX 4 | Most Recent: 09/04/2013
2 Inquiries in The Last 12 Months


2014 Goals:
Lower Utility

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000

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