How to use reward cards?

[livingfree]

I'm sorry if this is a stupid question but I will like to know how to use reward cards.  Do you pay everything with the card and not worry about utilization but PIF every month or do you use the card in being careful of utilization?  I hope that I am being clear in my question.  I just want to get the most rewards possible.  I have been approved for a Barclays Rewards Mastercard.  Thanks for your response.

[Anonymous]

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@chaleria wrote:

I'm sorry if this is a stupid question but I will like to know how to use reward cards.  Do you pay everything with the card and not worry about utilization but PIF every month or do you use the card in being careful of utilization?  I hope that I am being clear in my question.  I just want to get the most rewards possible.  I have been approved for a Barclays Rewards Mastercard.  Thanks for your response.

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I  pay everything with the card and not worry about utilization but PIF every month to avoid interest.   

I only worry about utilization when I am planning to apply for credit, then I prepay everything for a month before applications time.

[Anonymous]

I assume every cash back card has a policy against using one cashback card to pay for another.  Does anyone know if this is true?  In other words, use a discover card to get 1% back and then use a different card with 1% cash back.

[clocktick]

Do you mean balance transfer the balance from cashback card to another?  Balance transfers do not usually count for any cash back to you.

[mmduluth]

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@Anonymous wrote:

I assume every cash back card has a policy against using one cashback card to pay for another.  Does anyone know if this is true?  In other words, use a discover card to get 1% back and then use a different card with 1% cash back.

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You can't use a credit card to pay another credit card bill. You can do a balance transfer but that involves fees and you don't earn points/cash back on that. You also can't use a credit card to pay on any other loans in my experience. 

[pipeguy]

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@chaleria wrote:

I'm sorry if this is a stupid question but I will like to know how to use reward cards.  Do you pay everything with the card and not worry about utilization but PIF every month or do you use the card in being careful of utilization?  I hope that I am being clear in my question.  I just want to get the most rewards possible.  I have been approved for a Barclays Rewards Mastercard.  Thanks for your response.

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Some "rewards addicts" will pay everything from a 50 cents coffee refill at starbucks, to their mortgage on their "rewards card" and then pay in full before the next statement cuts. This game maximizes the amount of rewards, especially if you have the various cards that offer special bonus percentages for certain categories such as gas, movies, etc.

WAY too much work for me, I just charge what I would normally on a card (disclosure, most of my bank cards are rewards cards because that is what is currently issued). I do pay in full by the date due, even before any statement date, but only because that is the way I handle credit cards. I do NOT chase rewards, actually I pay no attention to them at all other than to automatically credit the amount back to my account as a payment when it hits a specific amount.

I'm sure some will say I'm wasting free money back but then again I won't drive 20 miles to save 10 cents a gallon on gas either (do the math at 15 MPH and a 25 gal fill up)

[Kendro]

I use the cards strictly as cash and always pay in full. If I cannot afford to buy something in one shot, I simply save until I can. I never think of a cash back card as a way to make money because at 2 to 3%, there isn't much money to be made. I use the card so I don't have to carry around cash and enjoy the extra protection like the extended warranty.

[pipeguy]

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@Kendro wrote:
I use the cards strictly as cash and always pay in full. If I cannot afford to buy something in one shot, I simply save until I can. I never think of a cash back card as a way to make money because at 2 to 3%, there isn't much money to be made. I use the card so I don't have to carry around cash and enjoy the extra protection like the extended warranty.

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+1 exactly right !

[afbar1114]

it depends on what i am buying. if i buy something for less a dollar or less ill use freedom because of 11.1% cash back because you get 10 points for just swping. i have 3 main cards each has a use and each gets its use daily. DD will go on Zync because of 2x points and DD pack. gas is either Chase or BoA when chase is not offering 5%. as well as grocery stores. 

[Lambo23]

I like to keep my life simple. I just use my zync for everything. I have a few packs that give 2x points (restaurant, family travel, eco). When I shop online I just use the amex website to earn 3x-10x points. This adds up to around 2% cash back with my current spending. Not bad and much easier to use only 1 card.