@birjest wrote:Ok, I have been a member here since October. Receive great cards after 3 years of financial recovery and heavy (only) debit card usages. So, here is my question...why do people go wayyy out of their way to push tons of money through a card, just to get....let say 25k points, which is equal to $625 in airline fare or similar? I just received an email about spend $10k in 3 months to get 25k points and a year later, spend the same amount for 25k points.
True, there are reasons for everything, however, when the Apprentice was the #1 show, I learned a lot from the show, as well as CNBC, and what I learned was Return of Investments (ROI). So, again, where are the ROI, if you have to push so much, or spend so much in 3 months or less just to get so little in return for points. Understand all about the 2,3,5% cash back, but I just don't see the returns. Is it me?
To me, it's free money I wouldn't get running it though a debit card and it's way safer than a debit card using a CC.
@LS2982 wrote:To me, it's free money I wouldn't get running it though a debit card and it's way safer than a debit card using a CC.
Definitely! I feel really edgy about having my bank card hanging out there. I've pretty much stopped using it altogether. With the cost of living increasing all the time, many of these offers are pretty easy to benefit from just with day-to-day usage, and with much lower risk!
Rewards cards only really work if you don't step out of your usual spending patterns.
If you wind up spending more than you normally would, you're shooting yourself in the foot. (And there are studies that do show that those using plastic typically spend more than those who don't, but there are a lot of variables there, far beyond simply using plastic.) The extra expenditures are NOT cancelled out by the rewards. That's like spending way more for a house than you ought to, telling yourself that it's worth it for taxes, when you'd be better off with a much lower payment and little or no tax credit. (Heresy, I know. 
)
The cards that require spending a "gazillion dollars" generally work for those who can run work expenses through them. Most of us don't have enough in normal expenses to qualify, unless we can somehow run our rent or mortgage through as well.
+1 for the best thread title I've seen in a while! 
The part that statistically people spend more with a credit card is true. When I got my very first CC last year when grocery shopping the first time I bought a bit more junk food than usual, also on xbox live I bought some virtual clothes for my avatar with real money. I would not have done that without a credit card. Buying virtual stuff for a virtual character with real money. lol
However once a few months went by and I saw exactly how much money I was spending per month that was a little horrifying. With a debit card you don't see exactly how much you spend per month. I always just went out to eat, and bought various things because I had the money, and each paycheck kept giving me more money.
Since then when grocery shopping I have cut back on the junk food and started buying the bargain brands and buying things on sale or in bulk, and only go out to eat maybe 2 or 3 times a month instead of 2-3 times a week. Particularly with the rise of gas prices I have started walking to work since I can walk to work in 15 minutes. I now fill up my car with a full tank of gas once every 2-3 months instead of once every month. This is also going to do wonders for my waistline. A credit card is helping me track my spending because I can see exactly how much spent total that month, and maybe set a goal for the next to cut back a little. The more money I save the sooner I can pay off my student loans and the more personal trips I can afford to take.
The best credit card is always YMMV. So for me a card with excellent gas rewards won't do any good. 