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Joined: May 2002
Posts: 15,622 Likes: 4
Campfire Ranger
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OP
Campfire Ranger
Joined: May 2002
Posts: 15,622 Likes: 4 |
I have 2 credit cards with modest limits on them. They've both been pushing me to jump to a reward type card since forever, but I never felt like pursuing it.
I read the details of one offer this morning.
What it boils down to is that there doesn't seem to be any downside. The upside is that I could earn either money back, on all purchases made, or "miles" that I assume are airline miles as a reward
The money back seems a sure thing. I have a vigorous agenda of travel plans which will require air travel.
I'd appreciate any experienced perspective.
"Chances Will Be Taken"
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Campfire Tracker
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Campfire Tracker
Joined: Jun 2012
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Not big on cc, but I'll take advantage of the 0% stuff that gets offered. Heck, just needed a set of new truck tires, boy they have gone up. WF had an active cash card that gives you 200 back on first purchase over 500 bucks plus 2% after that. 0% for first 15 months. Tires were 1500otd, WF gave me 200 for the purchase and 2% on top, I've got about 1250 bucks to pay back at 0% over 15 months. Trick is, making sure you pay it off by 15 months, I guess they hope folks wont and all that crazy interest gets added back. I could have paid cash for them, but this saved me more money.
Last edited by killerv; 01/05/24.
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Campfire Outfitter
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Campfire Outfitter
Joined: Aug 2006
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What do you use it for, and do you carry a balance? We use an Amazon card, so cash back in credit on Amazon for everything. Friends that fly more use cards that gives them miles. The key is what does it cost, what do you get out of it, and is it worth it. We put tons on the card then pay it off monthly, so the money back is "free" but if you carry a balance, the percentage you pay waaaaaaay outweighs the benefit you're getting.
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Campfire Tracker
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Campfire Tracker
Joined: Sep 2021
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A free rewards card is brainless. Just do it.
A fee based rewards card like the AMEX Delta card is awesome if you travel a lot and use a card a lot. I've got the Platinum card and I rack up 150K to 200K miles each year on it. Unfortunately, Delta along with most of the other carriers have changed their rewards program based on ticket expenditure and not so much for card expenditure. So you really have to weigh out the advantages/disadvantages on airline rewards.
Si Vis Pacem, Para Bellum
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Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2014
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I don't know about "rewards" cards...but I got a straight AMEX Business card...straight 1% cash back every month (I don't carry a balance, it's computed on the billing date). 1% is pretty poor, but there are no rules or gimmicks, and 1% is better than nothing. It used to add up when I was doing 5 or 10,000 a month in parts bills.
Well this is a fine pickle we're in, should'a listened to Joe McCarthy and George Orwell I guess.
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Campfire Ranger
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OP
Campfire Ranger
Joined: May 2002
Posts: 15,622 Likes: 4 |
I have pretty much always carried a zero balance from month to month. I'll make a purchase with each card once a month or so and pay it off as the statements are issued
Pursuing rewards would, I think, entail using the card for almost all purchases. Making thr reward worthwhile would likely hinge on ability to pay off the balance monthly
How do the "Miles" rewards work?
"Chances Will Be Taken"
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Joined: May 2002
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Campfire Ranger
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Campfire Ranger
Joined: May 2002
Posts: 15,622 Likes: 4 |
The Cap1 miles offer is 1.25 miles per dollar charged to the card. (edit) If I read it right.
What I don't understand is how I buy fuel at the kwik Trip, breakfast at the Red Apple, and a length of chain from Farm and Fleet, and use the rewards for airfare.
Last edited by johnw; 01/05/24.
"Chances Will Be Taken"
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Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2007
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I have 8-9 different cards. As a rule only 2 get used and if I don't pay them off at the end of the month I don't carry much over and it would be rare to keep a balance for over 2-3 months. I get rewards on both of those. It's $500ish combined each year and I don't see how I have anything to lose as long as I don't carry a big balance long term.
Most of the others are store specific cards, Home Depot, Sears, Cabelas, etc. I almost never use those and always pay the balance at the end of the month. You have to read the fine print carefully. For example my Cabelas card charges like 8% interest on Cabelas purchases, but over 20% if you use the card for anything else. And they make it harder to pay off the 20% part. I usually wait until I have at least $200 in Cabelas bucks and use it on a more expensive purchase.
Most people don't really want the truth.
They just want constant reassurance that what they believe is the truth.
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Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2012
Posts: 67,397 Likes: 53 |
ve been flying my daughter back and forth to Australia twice a year just from attaching my electric bill and insurance to auto draft via my United Airlines Visa
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I have Amazon Chase. 1-3% depending on some categories. I run through almost all my bills, so I get points pretty quick. I think maybe 30-50 bucks a month. I usually just apply it to an Amazon order, or better yet I sometimes just get slim jims and protein bars. That stuff tastes better because it is free. Really painless, no fees, easy to apply points to amazon. Had it for decades.
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Campfire Regular
Joined: May 2002
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I have a Citi Double cash card. Basically 1% back on every purchase 1% back when paid - which is before the bill ever comes due. I also have a Discover IT card which is 1% on all purchases and 5% on a "category" each quarter. I literally use a credit card for any purchase that will let me and use the points / cash / miles.
It's a no brainer.
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Campfire Regular
Joined: May 2009
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The credit card companies pass the cost of their rewards on to the vendors, who pass it on to us, one way or another. So, if you're not using a reward card, you're still paying for it. Might as well use one.
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Campfire 'Bwana
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Campfire 'Bwana
Joined: Dec 2013
Posts: 44,622 Likes: 18 |
A free rewards card is brainless. Just do it.
A fee based rewards card like the AMEX Delta card is awesome if you travel a lot and use a card a lot. I've got the Platinum card and I rack up 150K to 200K miles each year on it. Unfortunately, Delta along with most of the other carriers have changed their rewards program based on ticket expenditure and not so much for card expenditure. So you really have to weigh out the advantages/disadvantages on airline rewards. Go with an American AAdvantage card. Way less miles for reward travel. Especially overseas. And you have the One World airline alliance to pick your flights from. I actually often prefer flying foreign carriers. Many of them treat you better and the food is often a lot better. Although, I'm not a big Airbus fan. So, I avoid them whenever possible. Don't like their seating.
Slaves get what they need. Free men get what they want. Rehabilitation is way overrated. Orwell wasn't wrong. GOA member disappointed NRA member 24HCF SEARCH
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Campfire Tracker
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Campfire Tracker
Joined: Jun 2012
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The credit card companies pass the cost of their rewards on to the vendors, who pass it on to us, one way or another. So, if you're not using a reward card, you're still paying for it. Might as well use one. Yep, yet folks will still argue that you being charged some hidden interest. I guess you are when its figured in the product price....but a 700 dollar dish washer from lowes is the same exact same price if you pay cash or take the 0% for 6 months and some times even 12 months when offered. The 0% for 6 months is offered every day at lowes on purchases 300 bucks or more. Even cheaper if you take their 5% off when using their card and just pay it off when the bill comes. While I understand not having a bill over your head, if you have discipline you can save alot of money.
Last edited by killerv; 01/05/24.
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Campfire Outfitter
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Campfire Outfitter
Joined: Jun 2000
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A free rewards card is brainless. Just do it.
A fee based rewards card like the AMEX Delta card is awesome if you travel a lot and use a card a lot. I've got the Platinum card and I rack up 150K to 200K miles each year on it. Unfortunately, Delta along with most of the other carriers have changed their rewards program based on ticket expenditure and not so much for card expenditure. So you really have to weigh out the advantages/disadvantages on airline rewards. Go with an American AAdvantage card. Way less miles for reward travel. Especially overseas. And you have the One World airline alliance to pick your flights from. I actually often prefer flying foreign carriers. Many of them treat you better and the food is often a lot better. Although, I'm not a big Airbus fan. So, I avoid them whenever possible. Don't like their seating. I’d like to hear more from Citi AA users. For years I was able to do airfare for an annual fishing trip using Citi AA miles, and over time, it became more and more difficult and untenable, to the point that I went away from Citi AA completely. I still have some miles in that account, but to me they look like they have been devalued considerably, although I would love to be incorrect on that score. Always looking for a better travel card here ...
"What we obtain too cheap, we esteem too lightly: it is dearness only that gives every thing its value. Heaven knows how to put a proper price upon its goods; and it would be strange indeed if so celestial an article as freedom should not be highly rated." Thomas Paine
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Joined: Mar 2001
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I am happy with my rewards card because of the air miles. They are always advertising hotel stays and car rentals but I limit my rewards to flying.
I have flown from Denver to various destinations in Alaska, ten times and never paid more than $16 for taxes. If you want to hunt in Alaska, then an Alaska Airlines credit card is a wise decision.
I have also flown for free from Denver to Puerto Rico, Costa Rica, Washington D.C., Cabo San Lucas, and Mexico City, and never paid more than a few $$ for taxes.
I pay for all my normal monthly expenses using my credit and I never carry over a balance, so I pay no interest. I pay an annual fee of $90.
Wind in my hair, Sun on my face, I gazed at the wide open spaces, And I was at home.
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Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2012
Posts: 67,397 Likes: 53 |
I’m constantly soaking the pukes for their rewards and then dumping and cancelling them.
The one’s especially that offer $200-500 if ya spend $5000 inside of 90days.
Keep a rotation of offers and new banks. Play about 4-5 cards a year like that, toss the money to pay my property taxes.
Been doing that for about 15 years
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Campfire 'Bwana
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Campfire 'Bwana
Joined: Jun 2001
Posts: 32,191 Likes: 4 |
If you do a "rewards" every time it is offered by every establishment/business, you will need to buy a shoe-box for the cards....
And this stuff ain't free; You or others are paying for it- they jack up the prices and interest rates to pay for the cash back or other stuff. If it isn't more bother than worth to you, by all means work the system.
We are running "rewards" on Alaska Air, WF accounts, and Fred Meyer and Safeway. Well, I am, anyway. No telling what my wife has going on, but she pays the bills. FM and Safeway are good for fuel discounts, for us. We gotta eat anyway!
FM and Safeway, I don't need no stinking card to carry- just the "alternate ID".
The only true cost of having a dog is its death.
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Campfire Kahuna
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Campfire Kahuna
Joined: Nov 2003
Posts: 67,793 Likes: 8 |
I use one card. I pay everything with it. Groceries, diesel, doctor Co Pay, utilities. Pay it off before due. Get at least $75 bucks back every month.
Sam......
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Joined: Oct 2016
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I'm in the camp where if you are using cash for everything, you are leaving money on the table. Cash however, is always good when you don't want the purchase to be trackable. Here's what I think is the best breakout and comparison of all the cash back cards and air miles cards on the web. They also explain and make recommendations for a "two card strategy". https://www.nerdwallet.com/best/credit-cards/cash-backWhat I've learned about these cash back cards... I want to use one basic 2% cash back card.I have a Cabela's card that is a 1% card and I never use it except for the rare Cabela's purchase. I'm not going to play the "categories" game where it's gas rewards for this quarter and groceries rewards for the next quarter. That's a bad joke, but some people do it. You have to pay off your balance each month or you are not in the game.Be sure to set up your auto-alert system so you are notified (via text) of all purchases (or attempted purchases !) I'm using the Citi Double Cash card for a basic 2% card on all purchases. The only downside thus far is that their customer service is off shore, so you may get an agent with a heavy accent. I shop at a discount grocery store that only takes cash or debit. I spend a lot there and it kills me to not be racking up cash back points. Well, just recently Discover started offering the first cash back debit card that I know of. I got one, it's only 1% but it's something. The Discover "system" has been top notch to deal with so far. https://www.discover.com/online-banking/checking-account/
B L M - Bureau of Land Management
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Campfire 'Bwana
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Campfire 'Bwana
Joined: May 2003
Posts: 31,289 Likes: 10 |
I have two cards. I use a Southwest Air Visa for all my personal buying, and an Delta Air Amex for all travel. Both offer air miles as the reward. I pay both off in full the day I get the bill.
Over the years, the number of miles points you need for any given flight has increased tremendously. IIRC, it's now about double what it used to be. A flight that used to cost me 45,000 miles points now costs over 85,000.
I don't travel nearly as much as I used to, and am contemplating changing both cards over to cash back versions. It's a tossup of unnecessary air miles or unneeded cash.
Cleverly disguised as a responsible adult.
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Joined: Oct 2016
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I have two cards. I use a Southwest Air Visa for all my personal buying, and an Delta Air Amex for all travel. Both offer air miles as the reward. I pay both off in full the day I get the bill.
Over the years, the number of miles points you need for any given flight has increased tremendously. IIRC, it's now about double what it used to be. A flight that used to cost me 45,000 miles points now costs over 85,000.
I don't travel nearly as much as I used to, and am contemplating changing both cards over to cash back versions. It's a tossup of unnecessary air miles or unneeded cash. I'd be willing assume the hardship of accepting all of your unwanted cash.
B L M - Bureau of Land Management
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"When the going gets weird, the weird turn pro." Hunter S. Thompson
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Campfire Outfitter
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Joined: Nov 2006
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I keep it simple. I have a Costco Citi Visa that gives me back cash, 4% for gas at Costco (where I get most of my gas anyway) and 2% for almost everything else at Costco. I have a Capitol 1 card that gives me 2% back on everything (which I just apply to my account before I pay it off every month.
Mathew 22: 37-39
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I have a Capital One Venture card that gives me airline miles. I like to travel, so it’s worth it. I don’t carry a balance though.
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The credit card companies pass the cost of their rewards on to the vendors, who pass it on to us, one way or another. So, if you're not using a reward card, you're still paying for it. Might as well use one. Yup. If you have the discipline to pay off every month, you may as well take advantage of the system. I’m constantly soaking the pukes for their rewards and then dumping and cancelling them.
The one’s especially that offer $200-500 if ya spend $5000 inside of 90days.
Keep a rotation of offers and new banks. Play about 4-5 cards a year like that, toss the money to pay my property taxes.
Been doing that for about 15 years Same. I really need to rotate more often to take advantage of the initial rewards offers, but I get lazy. I have an AMEX that does 1-3% cash back and no fees. I'll keep that one around. I also have another 1-2 cards that we rotate every couple of years for miles, hotels, etc. rewards. Most of them are free for a year, then $100/year, but the initial rewards are several hundred $/points/miles.
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Guess what's in my wallet.
NRA-Benefactor TSRA-Life
"It's a terrible thing when governments send their young men to kill each other." Charles Byrne,WW2 Vet. On the day Desert Storm began.
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Joined: Sep 2014
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I use mine all I can and get 2% back. Bought a new SUV and cashed in for about $850. Took the sting off taxes. I pay it off in full every month.
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Wife and I use a CC (2)for everything and I mean everything. Pay them off in full every month. Both are setting on well into 4 digits of free cash available. I sometimes have a hard time finding something to spend it on. That money will pay for a cruise next august. You cannot win though if you carry a balance and pay interest. You must pay it off every month to "win". I've "paid" for a lot of free stuff over the years doing this. I consider it making my money "work" for me.
"Aim right, squeeze light" " Might as well hit what you're aiming at, it kicks the same whether you miss or not" NRA Life, GOA
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Campfire Outfitter
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Joined: Oct 2002
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A free rewards card is brainless. Just do it.
A fee based rewards card like the AMEX Delta card is awesome if you travel a lot and use a card a lot. I've got the Platinum card and I rack up 150K to 200K miles each year on it. Unfortunately, Delta along with most of the other carriers have changed their rewards program based on ticket expenditure and not so much for card expenditure. So you really have to weigh out the advantages/disadvantages on airline rewards. Go with an American AAdvantage card. Way less miles for reward travel. Especially overseas. And you have the One World airline alliance to pick your flights from. I actually often prefer flying foreign carriers. Many of them treat you better and the food is often a lot better. Although, I'm not a big Airbus fan. So, I avoid them whenever possible. Don't like their seating. I’d like to hear more from Citi AA users. For years I was able to do airfare for an annual fishing trip using Citi AA miles, and over time, it became more and more difficult and untenable, to the point that I went away from Citi AA completely. I still have some miles in that account, but to me they look like they have been devalued considerably, although I would love to be incorrect on that score. Always looking for a better travel card here ... We have a few of the rewards cards, but they are pretty specialized for what we do. You are absolutely right about the problem booking the flights from devaluations along with blackouts. We have the Citi AAdvantage card that comes with the Admirals Club access and the Chase Sapphire Reserve card. We travel a lot and get back far more in value than the annual fees. It is multiples for us. But you will see a distinct difference between them for flights. The Citi AAdvantage card earns "miles" and those are subject to a lot of restrictions/devaluations/barriers like you mentioned. The Chase Sapphire Reserve card is "points." There are many multipliers that are helpful, but the main advantage is that you are "purchasing" a ticket with the points. There are no blackouts or restrictions for the airline of choice because it appears that you are outright purchasing the ticket plus you get "miles" for the flight. Which you know you are not awarded any "miles" for award flights when you use miles to book. There are a lot of other savings on the Chase card for us that far outweigh the net $150 annual fee ($450 minus the $300 travel credit annually). Edited to add: We do use "miles" to book a lot of our flights, but we will find the flight we want using miles first for one of us and then immediately book the companion ticket with points right after. The airlines are notorious for allowing only so many reward seats to be available then black it out once those are gone. Buying with points has no blackout. We also use a lot of Alaska Airline miles for flights to Japan and Europe with a lot of success. Those can be some amazing deals if you know how to find them.
Last edited by Longbob; 01/05/24.
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Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2012
Posts: 67,397 Likes: 53 |
Getcha som dat alwc baldwin
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Campfire Ranger
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Campfire Ranger
Joined: Jun 2007
Posts: 21,978 Likes: 1 |
Smokin Joe Camel koozie and UST snuff can hats for the win.
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Campfire Tracker
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Campfire Tracker
Joined: Sep 2021
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A free rewards card is brainless. Just do it.
A fee based rewards card like the AMEX Delta card is awesome if you travel a lot and use a card a lot. I've got the Platinum card and I rack up 150K to 200K miles each year on it. Unfortunately, Delta along with most of the other carriers have changed their rewards program based on ticket expenditure and not so much for card expenditure. So you really have to weigh out the advantages/disadvantages on airline rewards. Go with an American AAdvantage card. Way less miles for reward travel. Especially overseas. And you have the One World airline alliance to pick your flights from. I actually often prefer flying foreign carriers. Many of them treat you better and the food is often a lot better. Although, I'm not a big Airbus fan. So, I avoid them whenever possible. Don't like their seating. I have one as well. When I was flying a bunch on Qatar Air, the miles helped. But I wouldn't fly AA if it was free... Well, maybe free. Otherwise, I use those miles to book hotels and rental cars. I have to fly Delta because 1. I fly out of ATL. and 2. 80% of my overseas flights are to Africa. The ATL to Cape Town run is a breeze and it's so much easier to clear customs there when compared to JNB - the $hittiest airport in the world to transit. I will fly halfway around to world to avoid JNB. I am two or three trips away from Diamond on Delta. Not that it means much these days.
Last edited by STRSWilson; 01/05/24.
Si Vis Pacem, Para Bellum
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City Double Cash. 2pct cash back on everything, no annual fee, no gimmicks (I’ve never not paid it off when I get the bill). About to use about $5k of rewards cash to help pay for Christmas. Do it that way every year.
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Campfire Regular
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I don't travel, so fly miles mean nothing to me. But I have a cash back card that I use to buy my gas and weekly restaurants visits. Pay the card off every month, never carry anything over. Just this week went and claimed my cash back for last year, $385. Spending last year was down from the year before, Usually get back over $400, Nice way to start the year.
"The older I get, the better I was"
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Campfire Ranger
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Campfire Ranger
Joined: Nov 2007
Posts: 29,668 Likes: 5 |
You said it yourself… there is no downside.
Go for it; you’re already using something to access your money, why not get rewards for what you’re already doing it?
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Campfire Kahuna
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Campfire Kahuna
Joined: Sep 2011
Posts: 61,176 Likes: 25 |
We have a Scheels card. It's Ok.
These premises insured by a Sheltie in Training ,--- and Cooey.o "May the Good Lord take a likin' to you"
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Campfire Tracker
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Campfire Tracker
Joined: Jan 2020
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Have a Sam's Master Card that has some kind of cash back deal when you check out. I'm sure there's better options available, but it's like getting $200 worth of free groceries every few months. No need for air miles when don't fly. Learned a long time ago you can take a trip and never leave the farm.
Life is good live it while you can.
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Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2007
Posts: 11,219 Likes: 1 |
I am two or three trips away from Diamond on Delta. Not that it means much these days. Lately Diamond medallion might get you a first class upgrade...... maybe.
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Campfire Outfitter
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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
Maker of the Frankenstud Sling Keeper
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Joined: Feb 2001
Posts: 6,013 Likes: 5 |
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.
Don't just be a survivor, be a competitor.
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Joined: Apr 2010
Posts: 10,851
Campfire Outfitter
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Campfire Outfitter
Joined: Apr 2010
Posts: 10,851 |
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
Maker of the Frankenstud Sling Keeper
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Joined: Feb 2001
Posts: 6,013 Likes: 5
Campfire Tracker
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Campfire Tracker
Joined: Feb 2001
Posts: 6,013 Likes: 5 |
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 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.
Don't just be a survivor, be a competitor.
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Joined: Sep 2011
Posts: 61,176 Likes: 25
Campfire Kahuna
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Campfire Kahuna
Joined: Sep 2011
Posts: 61,176 Likes: 25 |
Remember Traver's checks?
These premises insured by a Sheltie in Training ,--- and Cooey.o "May the Good Lord take a likin' to you"
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Joined: Apr 2010
Posts: 10,851
Campfire Outfitter
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Campfire Outfitter
Joined: Apr 2010
Posts: 10,851 |
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 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. 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
Maker of the Frankenstud Sling Keeper
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Joined: Feb 2001
Posts: 6,013 Likes: 5
Campfire Tracker
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Campfire Tracker
Joined: Feb 2001
Posts: 6,013 Likes: 5 |
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 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. 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.
Don't just be a survivor, be a competitor.
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Joined: Apr 2010
Posts: 10,851
Campfire Outfitter
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Campfire Outfitter
Joined: Apr 2010
Posts: 10,851 |
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 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. 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. Google might teach you a different angle on cc available credit and credit score
Maker of the Frankenstud Sling Keeper
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Joined: Feb 2001
Posts: 6,013 Likes: 5
Campfire Tracker
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Campfire Tracker
Joined: Feb 2001
Posts: 6,013 Likes: 5 |
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 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. 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. 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.
Don't just be a survivor, be a competitor.
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Joined: Oct 2002
Posts: 10,009 Likes: 3
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2002
Posts: 10,009 Likes: 3 |
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 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. 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. Google might teach you a different angle on cc available credit and credit score 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.
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Joined: Jan 2009
Posts: 1,997
Campfire Regular
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Campfire Regular
Joined: Jan 2009
Posts: 1,997 |
ve been flying my daughter back and forth to Australia twice a year just from attaching my electric bill and insurance to auto draft via my United Airlines Visa 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.
America, Our Country and we’re taking it back.
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Joined: Apr 2010
Posts: 10,851
Campfire Outfitter
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Campfire Outfitter
Joined: Apr 2010
Posts: 10,851 |
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 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. 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. 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. 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
Maker of the Frankenstud Sling Keeper
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Joined: Feb 2001
Posts: 6,013 Likes: 5
Campfire Tracker
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Campfire Tracker
Joined: Feb 2001
Posts: 6,013 Likes: 5 |
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 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. 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. 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. If you are working for that 500 gift and filling up a card each month to do it you sound like a financial genius Smarter than some...
Don't just be a survivor, be a competitor.
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Joined: Apr 2010
Posts: 10,851
Campfire Outfitter
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Campfire Outfitter
Joined: Apr 2010
Posts: 10,851 |
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 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. 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. 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. If you are working for that 500 gift and filling up a card each month to do it you sound like a financial genius Smarter than some... Enjoy that $1.37 per day
Maker of the Frankenstud Sling Keeper
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Joined: Feb 2006
Posts: 43,963 Likes: 24
Campfire 'Bwana
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Campfire 'Bwana
Joined: Feb 2006
Posts: 43,963 Likes: 24 |
We got $750 back in 2023. (60k on the AmEx)
#stoked
Last edited by SamOlson; 01/05/24.
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Joined: Jan 2006
Posts: 19,824 Likes: 2
Campfire Ranger
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Campfire Ranger
Joined: Jan 2006
Posts: 19,824 Likes: 2 |
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.
"Be sure you're right. Then go ahead." Fess Parker as Davy Crockett
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Joined: Feb 2001
Posts: 6,013 Likes: 5
Campfire Tracker
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Campfire Tracker
Joined: Feb 2001
Posts: 6,013 Likes: 5 |
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?
Don't just be a survivor, be a competitor.
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Joined: Jan 2012
Posts: 958
Campfire Regular
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Campfire Regular
Joined: Jan 2012
Posts: 958 |
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
You can easily vote your way in to Socialism; but you'll have to shoot your way out.
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Joined: Feb 2001
Posts: 6,013 Likes: 5
Campfire Tracker
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Campfire Tracker
Joined: Feb 2001
Posts: 6,013 Likes: 5 |
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.
Don't just be a survivor, be a competitor.
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Joined: Dec 2007
Posts: 11,219 Likes: 1
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2007
Posts: 11,219 Likes: 1 |
I use a cc for buisines travel
The reward programs are OK at best
Miles aren't miles
It's a term.....normally pennies As for Delta SkyMiles, one mile is worth about 1.1 cents.
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Joined: May 2002
Posts: 15,622 Likes: 4
Campfire Ranger
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OP
Campfire Ranger
Joined: May 2002
Posts: 15,622 Likes: 4 |
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. I know this is true. Have had the one CC account for maybe 11 years now, and it started with a $2500 limit. Seems like it plateaued at about $8000, til I obtained my other card. I believe they were in competition to boost my limits, for a while. While I was still working the combined limits would have added up to about 35% of a year of wages Now I'm retired, divorced, and I've reported to them an annual income less than 50% of previous. They both raised my limit again... If... I run up 30% of my credit limit on either card, I'm in deep doo-doo BTW, I upgraded to the travel miles card, after calling and asking them how it worked. It'll benefit me...
"Chances Will Be Taken"
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Joined: Dec 2008
Posts: 78,306 Likes: 2
Campfire Oracle
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Campfire Oracle
Joined: Dec 2008
Posts: 78,306 Likes: 2 |
I use one card. I pay everything with it. Groceries, diesel, doctor Co Pay, utilities. Pay it off before due. Get at least $75 bucks back every month. Same here but mine is not a cash rewards card, I get points towards motel stays. Since I travel a bit, going back and forth to Texas about half my stays are paid for.
"...the left considers you vermin, and they'll kill you given the chance..." Bristoe
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Joined: May 2002
Posts: 15,622 Likes: 4
Campfire Ranger
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OP
Campfire Ranger
Joined: May 2002
Posts: 15,622 Likes: 4 |
I use one card. I pay everything with it. Groceries, diesel, doctor Co Pay, utilities. Pay it off before due. Get at least $75 bucks back every month. Same here but mine is not a cash rewards card, I get points towards motel stays. Since I travel a bit, going back and forth to Texas about half my stays are paid for. Most of Cap1's reps are offshore and have an accent of one sort or another. When I called about this yesterday, I spoke with a pleasant gal in Phoenix AZ. She explained that the travel miles don't relate to any kind of mileage anywhere. I accrue a rewards dollar amount that I can apply to about any travel expense. She mentioned airfare, lodging, auto rental, and campground fees. That will do nicely, for me
"Chances Will Be Taken"
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Joined: Sep 2021
Posts: 4,099 Likes: 8
Campfire Tracker
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Campfire Tracker
Joined: Sep 2021
Posts: 4,099 Likes: 8 |
I am two or three trips away from Diamond on Delta. Not that it means much these days. Lately Diamond medallion might get you a first class upgrade...... maybe. Not even that with the new program. At best they offer to upgrade from cattle class to Comfort Plus and that is generally a middle seat so that isn't happening with me. I like my emergency row exit on the Airbus A350 unless I want to burn miles on a business class ticket. Diamond means nothing with the new program. I only fly Delta out of necessity.
Si Vis Pacem, Para Bellum
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Joined: Jul 2010
Posts: 2,728
Campfire Regular
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Campfire Regular
Joined: Jul 2010
Posts: 2,728 |
Have a mileage reward and a Wells Fargo visa. Didn’t really want to get a WF card but they have our mortgage so I use the rewards on that card from budgeted expenses like gas and groceries to make extra mortgage payments.
Government is like a baby: An alimentary canal with a big appetite at one end and no sense of responsibility at the other. - Ronald Reagan
For why should my freedom be judged by another man's conscience? - 1 Corinthians 10:29
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Joined: Nov 2010
Posts: 578 Likes: 1
Campfire Regular
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Campfire Regular
Joined: Nov 2010
Posts: 578 Likes: 1 |
What do you use it for, and do you carry a balance? We use an Amazon card, so cash back in credit on Amazon for everything. Friends that fly more use cards that gives them miles. The key is what does it cost, what do you get out of it, and is it worth it. We put tons on the card then pay it off monthly, so the money back is "free" but if you carry a balance, the percentage you pay waaaaaaay outweighs the benefit you're getting. This. APR is near 30% on some cards now.
Dyin' ain't much of a livin' boy - Josey Wales
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Joined: Jan 2006
Posts: 69,475 Likes: 18
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2006
Posts: 69,475 Likes: 18 |
Banks charge sellers about 3% on all card purchases so that's built into their retail prices. Some will give you a discount if you pay cash but most won't. A rewards card gives you a chance to recover a little of what you've been overcharged for bank fees. As has been said, do NOT fail to pay it off monthly or it will cost you big time. What the banks charge you is immoral and outright theft.
“In a time of deceit telling the truth is a revolutionary act.” ― George Orwell
It's not over when you lose. It's over when you quit.
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