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Revolvers increasing your spending?

Super Contributor

Revolvers increasing your spending?

I've never liked revolvers (go for cards where you KNOW the bonus categories!) but as I have the Freedom, I've found myself thinking "How can I max out this category this quarter?"  

 

Intellectually, I know that saving 5% on a unnnecessary purchase is more like a 100% loss than a 5% gain, but it's sort of tempting to me.   I don't feel this way on my other cards, even those that have quarterly goals, oops mean caps, on spending like Cash Plus.  I suspect it's because of the time limited nature of the category, spend even if you don't need to!

 

Do others feel the same?  Or are you more in control!

42 REPLIES
Established Contributor

Re: Revolvers increasing your spending?

I probably did that a little bit last quarter with my Discover card. I did a lot of shopping online for things that I'll need in the not-too-distant, and somewhat distant future in order to take advantage of the 5% then. I also bought some things that were "nice to haves".

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Established Contributor

Re: Revolvers increasing your spending?

The sad part is even a single purchase that you don't need due to fear of loss of a great deal can negate all of your MR or cashback rewards.  I personally will not be failing for that trap.  Spending $100 on things you don't need to get $3.50 back is silly. 

 

Lately I've been spending way too much time on this site and too much time to understand the ins and outs of the CC world.  After ten years away I'm getting back to understanding what works. 

 

One aspect that has proven to be most costly is TIME.  The time spent on trying to save money and time spent on trying to line up the right revolvers for rewards are lost time that could be spent elsewhere more profitably.

 

 

 

 

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Super Contributor

Re: Revolvers increasing your spending?


longtimelurker wrote:

Do others feel the same?  Or are you more in control!


Ah, just went to get coffee at Startucks with my Freedom.  And, I'm not even thirsty, and need to wake up early!

Valued Contributor

Re: Revolvers increasing your spending?

I am an over spender in general Smiley Sad

 

I've never had a BK, CO, or bad debt... But I am great at digging a hole for myself and then having to use a bonus or tax refund to eliminate it. 

 

I don't have a lot of the prime rewards cards yet and I'm not apping for any new cards for quite some time.  I am going to take my spending habbits and control them, not let them control me!

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New Contributor

Re: Revolvers increasing your spending?

I agree spending is very easy and saving is hard. I find curbing spending is much easier when you make a spreadsheet of all your credit cards and monthly expenses. This way you can actually see how much you are spending each month with real numbers. After seeing these numbers and seeing what "play" money I have left, helps to put purchases into perspective. 

Established Contributor

Re: Revolvers increasing your spending?


Fico2Go wrote:

The sad part is even a single purchase that you don't need due to fear of loss of a great deal can negate all of your MR or cashback rewards.  I personally will not be failing for that trap.  Spending $100 on things you don't need to get $3.50 back is silly. 


This is 100% true! It is no wonder my friend, who is an organizational psychologist is recruited heavily by businesses, particularly the credit card companies.  I went from debit a year ago to now using credit exclusivley for the last two months. I can honestly say that I subconciously spend more with my credit card than I ever did with debit - even though I PIF with my credit cards. 

Frequent Contributor

Re: Revolvers increasing your spending?

Call it self control or whatever, but I never over spend. I have always been a saver I remember being a little kid and getting birthday checks and I didn't want to spend the money at Toy's R Us. To this day I will NEVER put something on a CC I can't pay off even if I have a new card with 0% APR. I look at credit cards like debit cards but with better rewards. I refuse to keep less than a particular amount of money  in liquid just becuase I like knowing "its their". I have had my banker complain but its just the way I am. My investments are fine, let me be lol.

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Valued Contributor

Re: Revolvers increasing your spending?


eagle2013 wrote:

Fico2Go wrote:

The sad part is even a single purchase that you don't need due to fear of loss of a great deal can negate all of your MR or cashback rewards.  I personally will not be failing for that trap.  Spending $100 on things you don't need to get $3.50 back is silly. 


This is 100% true! It is no wonder my friend, who is an organizational psychologist is recruited heavily by businesses, particularly the credit card companies.  I went from debit a year ago to now using credit exclusivley for the last two months. I can honestly say that I subconciously spend more with my credit card than I ever did with debit - even though I PIF with my credit cards. 


I remember reading a study or something somewhere that if people go into a store with cash they're likely to spend less than if they go in with a debit / credit card. For some reason, it's easier to hand over a card than it is to physically hand over cash. It seems silly,  but I can see where it makes sense... and I try to keep it in mind now when I make purchases.

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Valued Member

Re: Revolvers increasing your spending?

I have to watch it when using plastic, whether debit or credit. I know that I use less when paying with cash; however, since all of my bills are paid online, I might as well be getting rewards for swiping. I have just learned to wait until the cash is in the bank to pay off the card immediately before charging things like monthly bills and groceries.

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