Re: The Best Way to Use Reward CC?
05-26-2010 07:30 AM
I agree with hauling's approach. Here is what I do:
PenFed Cash Card: Gas (5%) and Groceries (2%)
Amex Zync w/ Style Pack: Department Stores (2%) and Everything Else Not Listed (daily card)
CitiForward: Restuarants, Movies, Books, Amazon, and Entertainment (5 points for every $1 in these categories)
USAA MC: USAA Monthly Insurance Bill (auto payment)
USAA Amex: Big Ticket Items (for extended protections)
I usually get back $350 - $600 a year in rewards. Might sound complicated, but it just works for me...a lot ofit habitual now.
I also have a chase card and BofA card that will probably die a natural death by each CCC soon.
Time to clean house and get rid of CCs from bad CCCs. Opt'd Out and Paying off the Balance: BofA. Closed: Chase Freedom. Keeping: Amex Blue, Amex Costco Cash back, Citi Forward, USAA MC, USAA Amex, and PenFed Platinum Cash Back. Next up for review: Chase Sapphire...