topic Re: What do you do with your Cash Back? in Credit Cards

What do you do with your Cash Back?

Anonymous — Fri, 09 Mar 2018 17:04:41 GMT

I am just curious to see what everyone here does with their Cash Back/Rewards that they get on their credit cards?

Re: What do you do with your Cash Back?

Anonymous — Fri, 09 Mar 2018 17:05:57 GMT

Typically I just apply it as a statement credit.

Re: What do you do with your Cash Back?

Anonymous — Fri, 09 Mar 2018 17:08:29 GMT

I usually save mine up to use for a nice little vacation for the family.

Re: What do you do with your Cash Back?

Jimp2323 — Fri, 09 Mar 2018 17:09:19 GMT

Apply it to statement w/ Cap 1 and Discover. Navy Fed it goes into savings account.

Re: What do you do with your Cash Back?

Anonymous — Fri, 09 Mar 2018 17:12:07 GMT

I take my bofa into savings account.

Re: What do you do with your Cash Back?

Anonymous — Fri, 09 Mar 2018 17:12:54 GMT

Are you taking purely cash-back? When you say cash back./rewards I am guessing you mean non-cash rewards as well.

I started getting rewards end of last April. This is what I have used my points and rewards for:

New Washer and Dryer

Round Trip ticket to Scotland

3 Round Trip tickets to Orlando and 5 nights hotel. Car Rental

2 Round Trip tickets to Aruba. 3 nights hotel at Marriott Stellaris Aruba

3 Round Trip Tickets to Ireland , 3 nights hotel stay in Killarney, 10 days rental car

Also have 100k of Hyatt Points, 50k American Airline Miles, 80K Southwest Miles and a companion pass in hand. Thinking a local week at the beach in August for Hyatt points.

Re: What do you do with your Cash Back?

Anonymous — Fri, 09 Mar 2018 17:14:15 GMT

Statement credits multiple times a month to tangibly reduce my monthly expenses. Cap1 Quicksilver makes this so easy. You can do a statement credit request as many times a month as you want.

Re: What do you do with your Cash Back?

Anonymous — Fri, 09 Mar 2018 17:18:45 GMT

@frogman1 - I was really referring to any cash back or reward that you get from any of your cards that you can do something with, unlike some cards automatically give you rewards as only a statement credit and you don't have actual access to it. Anything that you consider cash back or reward. BTW, you are KILLING it on your rewards and cash back!!!

Re: What do you do with your Cash Back?

Anonymous — Fri, 09 Mar 2018 17:17:38 GMT

Mine goes straight into savings.

Re: What do you do with your Cash Back?

Anonymous — Fri, 09 Mar 2018 17:17:55 GMT

Sitting on about 90,000 Ultimate Rewards points right now that are eventually going to be used toward a family vacation.

Re: What do you do with your Cash Back?

Anonymous — Fri, 09 Mar 2018 17:21:28 GMT

@Anonymouswrote:
Mine goes straight into savings.

I am thinking of doing that with my BofA Cash Rewards, because they give you an extra 10% when you deposit it into your checking or savings account.

Re: What do you do with your Cash Back?

Anonymous — Sat, 10 Mar 2018 11:17:11 GMT

<mod edit>

Mod note: Gotta keep it family-friendly... --UB

Re: What do you do with your Cash Back?

Anonymous — Sat, 10 Mar 2018 11:17:58 GMT

@Anonymouswrote:
<mod edit>

There's always one... ;-)

Re: What do you do with your Cash Back?

Anonymous — Fri, 09 Mar 2018 17:31:47 GMT

@Anonymouswrote:
@Anonymouswrote:
Mine goes straight into savings.
I am thinking of doing that with my BofA Cash Rewards, because they give you an extra 10% when you deposit it into your checking or savings account.

I send mine over to my ME account for the 10% bonus then request a check be sent. Rewards get cashed out before heading to Disney...this pays for extras while there.

Re: What do you do with your Cash Back?

Anonymous — Fri, 09 Mar 2018 17:34:39 GMT

Other than transferring them over to Chase UR for all Chase products. I typically get a statement credit on the others.

Re: What do you do with your Cash Back?

AverageJoesCredit — Fri, 09 Mar 2018 17:45:14 GMT

Spend it

Re: What do you do with your Cash Back?

Anonymous — Fri, 09 Mar 2018 17:49:38 GMT

I let it sit and build up. Then I use it as a statement credit one month when I want to spend more. I like it getting over $100 when possible. Just a fun game for me. I do this with every card I use.

Re: What do you do with your Cash Back?

imaximous — Fri, 09 Mar 2018 18:41:53 GMT

In the past, I was just waiting to accumulate a decent amount, and then applying it as a statement credit or to erase purchases.
Now, I'm saving all of it, and then periodically, I transfer the rewards into an account designated just for that. It's my cashback savings account
Basically, a savings account that I use for vacation or some unnecessary toy

Re: What do you do with your Cash Back?

Anonymous — Fri, 09 Mar 2018 18:46:51 GMT

Statement credit fer me. Anything to make a bill smaller.

Re: What do you do with your Cash Back?

UFGuy2006 — Fri, 09 Mar 2018 18:59:17 GMT

I usually try to ensure I redeem it the moment I hit the required "redemption threshold" and then throw that into savings. I use mint to track when I get these "bonuses" so I can do a happy dance at the end of the year lol.