Home Forums Hunting & Shooting Hunter's Campfire "REWARDS" Credit Cards?

I use a cc for buisines travel

The reward programs are OK at best

Miles aren't miles

It's a term.....normally pennies

Remember....always use less then 30% of your available credit even if you pay your balance off 100% monthly.

It will hurt your credit score

A rewards CC is a no brainer IF you can have a CC responsibly. Some can't.
I use my Cabelas card for everything I can possibly put on it and pay it off completely each month, before the statement date. I use the points for 22lr, shipped free to my door with a 5% military discount. Again, no brainer.
Rewards cards are not a good deal, or any card for that matter, if you pay interest. Don't use a CC if there is a cash discount that is more than the reward.

Most years I'm getting around $500 worth of "free" 22lr ammo.

But if you load it past 1/3 that 500 isn't worth the credit score penalty

I pay mine off monthly, but pay it about 2 days before the closing date so the balance is usually at zero regardless of how much I used it that month. I also really don't care about my daily credit score. Over 800 is over 800. If it caries 15-20 points from month to month, who cares? It's only really an issue if you are doing something that requires a credit score, which really isn't that often.

Remember Traver's checks?

That doesn't save you....

Paying it off monthly is perfect it's the the amount of used available credit. If you routinely use more the 30% your score will slip regardless of paying it off 100% monthly

I guess you don't understand. I pay it off before the closing date, so it is a zero. That's using 0% of my credit. Your closing date balance is what is reported, not how much you actually used it.
It usually don't matter anyway. You don't use your score on a daily basis. Only for very specific things. Earning rewards with responsible use is far greater than what few points your credit score changes each month.

Google might teach you a different angle on cc available credit and credit score

Monitoring your actual score on a weekly basis might teach you more than google. Pay it off before the closing date and the reported usage is zero. But you do you. I'm not worried about my score. Unfortunately I have good enough credit for whatever I want. People that do have to worry probably aren't the best for CC usage anyway.

If you are regularly running up over 30% of your available credit and paying it off each month it isn’t difficult to get the issuer to raise your limit.

This. Had lunch w my best friend(and wife)60 yrs today. They pay all their bills thru their CC w points. Rack up a lot of travel w the points.
My oldest son, DIL, and kids just went to Crested Butte for a week on their points. All his business purchases are made thru their CC points program.

It works only if you control it.

If you are working for that 500 gift and filling up a card each month to do it you sound like a financial genius working for that $1.37 of "free" money per day

Smarter than some...

Enjoy that $1.37 per day

We got $750 back in 2023.
(60k on the AmEx)



#stoked

Sam's Club card, 5% back on gas wherever purchased. I think there's a 5K limit. Works well for me, plus a % credit (don't recall exactly what) on Sam's Club purchases.

Yes, I do enjoy free money, but it seems some don't. Takes no more effort to get it than to not get it.

Seriously though, it seems there's a disconnect. I'm sure I just explained it poorly.
Your monthly CC balance is what is reported to the credit agencies. If your balance is zero, then your usage is zero. You can still use your card as much as you want, but if you make the payment in full prior to the closing date, your reported usage is zero. It takes no more effort to make the payment before the closing date as opposed to after. It's the same process.

You are correct if you carry a balance, it can affect your credit score. The amount varies based on how good your credit is to begin with. Better credit has less effect than poor credit. Those with poor credit are probably not the best people to have a CC, although proper use can in crease their credit. The fact my score varies 10-15 points throughout the month does not negatively affect me in any way. Most "best rates" start in the mid to upper 700s, so if you are there, it doesn't matter if you are there+. Most people do not use their credit score more than once or twice a year, if that often. How many times a year are you attempting to acquire credit?

There is no free money free miles free anything. Every nickel of your rewards are paid by the people you purchased from. The card companies couldn’t care less if you pay the balance monthly or not. They make money off the merchant discount, the more you use the card the more they make.

And you can forget about that don’t use more than x percent of your limit or if will hurt your credit score, it doesn’t move it more than a few points anyway and it bounces back.

KC

Of course people are making money off cards. There's no reason you shouldn't either. Very few places offer a cash discount. Same price for cash or card. Same price for a card with and without rewards. Obviously if there is a cash discount that is usually better than whatever reward program, but not always. So is it free?

The crazy thing is people don't want cash these days. We just had a custom table and chairs made from local lumber. They guy wanted paid with a card even though I offered to pay in cash. He would have made an extra $200 with the cash, but didn't want it.

As for Delta SkyMiles, one mile is worth about 1.1 cents.