Credit Card Points
- Thread starter mavrick
- Start date
GTaranto
NAXJA Forum User
- Location
- Charleston, SC
USAA does.
Stumpalump
NAXJA Forum User
- Location
- Franktown Co.
Almost all of them have one if you ask. We have a Wells Fargo card and put everthing we can on it because you can trade you points in for $600 cash toward your bill after a year or two of normal spending. We put food, utility bills and everthing we can on it but pay it off each month.
DrMoab
NAXJA Forum User
- Location
- The Utah Backwater
Points are a scam. The amount of points you get isn't even close to the amount you will pay in interest.
RichP
NAXJA Forum User
- Location
- Effort, Pa
No free lunch, the people that run these credit card companies are NOT doing it for altruistic reasons...
Stumpalump
NAXJA Forum User
- Location
- Franktown Co.
Like Dave Ramsey says "Credit card companys are snakes and sooner or later you will get bit." We charge 1-2k a month running a houshold of 4. If we miss a payment we will get screwed. So far it allways gets paid first on the first of the month in full. Knock on wood!
DrMoab
NAXJA Forum User
- Location
- The Utah Backwater
Stumpalump said:
Stumpalump said:
Sounds like you have debt to me.
JeepFreak21
NAXJA Forum User
- Location
- Cameron Park, CA
DrMoab said:
You don't pay any interest if you don't carry a balance.
Billy
JeepFreak21
NAXJA Forum User
- Location
- Cameron Park, CA
RichP said:
There are ways of getting a free lunch out of them! We have a CitiBank Dividend card. We charge all the everyday stuff on it. We used to get 5% back on gas and groceries but they changed it (not sure what it is now). They cap you at $300 cash back per year, but we would hit that around mid-summer. There are no annual fees and auto pay makes sure the balance is paid in full every month. So, they pay us $300/yr and they haven't made a cent off us.
Billy
DrMoab
NAXJA Forum User
- Location
- The Utah Backwater
Yeah and for every person like you how many are there who get suckered into the deal because they offer "points"JeepFreak21 said:There are ways of getting a free lunch out of them! We have a CitiBank Dividend card. We charge all the everyday stuff on it. We used to get 5% back on gas and groceries but they changed it (not sure what it is now). They cap you at $300 cash back per year, but we would hit that around mid-summer. There are no annual fees and auto pay makes sure the balance is paid in full every month. So, they pay us $300/yr and they haven't made a cent off us.
Billy
You may think you are screwing them but the ten thousand jokers out there who get suckered to the one of someone like you makes it totally worth their while.
It's still all a scam.
XJ Dreamin'
NAXJA Forum User
- Location
- Huntsville, Texas
They charge the merchant a fee per transaction, which the merchant then passes on to the consumer - me. Thanks for running up my bill. Enjoy your $300.
Don't take that too hard. I'm mostly pulling you leg. But, it is true they do nothing for nothing. They will collect from someone, somewhere along the money trail.
Don't take that too hard. I'm mostly pulling you leg. But, it is true they do nothing for nothing. They will collect from someone, somewhere along the money trail.
JeepFreak21
NAXJA Forum User
- Location
- Cameron Park, CA
DrMoab said:
Oh, I don't care if I'm screwing them... in fact, I'm glad they are making money off some people, so they can give $300 a year of it to me
Billy
XJ Dreamin'
NAXJA Forum User
- Location
- Huntsville, Texas
JeepFreak21 said:Oh, I don't care if I'm screwing them... in fact, I'm glad they are making money off some people, so they can give $300 a year of it to me
Billy
Can't you just feeeel the love :kissyou: :loveu:
JeepFreak21
NAXJA Forum User
- Location
- Cameron Park, CA
XJ Dreamin' said:
Actually, then I take my "free" $300 and buy goods or services with it, making merchants more money and helping to soften the blow of those nasty transaction fees
Like Moab said, they're making the $300 off somebody else's interest. Hell, I can give you the first and last name of 5 people that pay that much in interest every month.
Billy
XJ Dreamin'
NAXJA Forum User
- Location
- Huntsville, Texas
JeepFreak21 said:Actually, then I take my "free" $300 and buy goods or services with it, making merchants more money and helping to soften the blow of those nasty transaction fees
Like Moab said, they're making the $300 off somebody else's interest. Hell, I can give you the first and last name of 5 people that pay that much in interest every month.
Billy
Actually, they've written off the $300 they gave you as business expenses under the advertising budget. It means nothing to their bottom line. I did say I was mostly just pulling your leg. Overall, any CC transaction involves a fee for the merchant, even if it's not part of your points back card. Personally, it's worth $300 to me to deal with CC people as little as possible. To that end we do only, perhaps, 2-3% of our payouts by credit.
Stumpalump
NAXJA Forum User
- Location
- Franktown Co.
The finacial gurus like Dave Ramsey don't consider motgage a debt because it's an OK investment plus you need a place to live. My credit card is not a debt for us because we have the money in the bank before we use the card . Pay it off every month on time and you pay absolutly nothing but what you charged. No revolving credit debt. The points are good for a guy like me. The gas companies have cards that pay back on gas that are good but you have to be a freak with your finances to have any of this credit card stuff pay off. Like 1 in a 100. Everbody else gets bit. We stick to one card and one back-up that only gets used for my wifes items she can write off on taxes. Keeps it simple and provides a back-up in case our main card gets lost or stolen.DrMoab said:Sounds like you have debt to me.
DrMoab
NAXJA Forum User
- Location
- The Utah Backwater
Just curious...and not flaming you or anything like that but if you have money in the bank why put it on a card?Stumpalump said:
I have debt...lots of it. I also understand keeping a credit card in case there is something that comes up that you just can't pay for but if I have the cash for things I will always use it first.
Ivan
I Jeep, therefore, I am..
- Location
- Greensboro, Ga
CC Points help offset the cost of my Alaskan cruise later this year.
I got $1200 worth of airfare and $800 worth of lodging paid off, and $300 worth of meals; courtesy of my CC Points........and I didn't pay one dime in interest. I pay my CC balance in full each month....
Later this year I plan to rack up even more points, because I'm paying most the construction cost on my addition via credit cards. The addition funding is already taken care of and was saved for, long ago. So I won't be paying any CC interest on that either. We're hoping to travel to Europe next year relatively free of charge, courtesy my CC points again......
Just don't charge more on your CC than you can pay for at the end of the month... it couldn't be any simpler..... and enjoy those points.
I got $1200 worth of airfare and $800 worth of lodging paid off, and $300 worth of meals; courtesy of my CC Points........and I didn't pay one dime in interest. I pay my CC balance in full each month....
Later this year I plan to rack up even more points, because I'm paying most the construction cost on my addition via credit cards. The addition funding is already taken care of and was saved for, long ago. So I won't be paying any CC interest on that either. We're hoping to travel to Europe next year relatively free of charge, courtesy my CC points again......
Just don't charge more on your CC than you can pay for at the end of the month... it couldn't be any simpler..... and enjoy those points.
Stumpalump
NAXJA Forum User
- Location
- Franktown Co.
DrMoab said:
I have a family (see lots of spending) and the card makes it easier. Two statments every month and I can recap all that my family spent. We buy nothing, no thats NOTHING that we can't pay off at the end of the month. Never ever ever do we over spend the money thats in the bank and we watch that on-line. Anybody else gets burnt month after month.
The points are nothing but gravey. Not at all a reason to use a card. I am certainly not average or normal when it comes to spending. But I paid my dues the hard way too.
JeepFreak21
NAXJA Forum User
- Location
- Cameron Park, CA
DrMoab said:
For the points! Have you been following along?
Do you use a debit card to pay for things, or do you write a check/carry cash? Do you pay bills (like your credit card bill) online? If I didn't pay my credit card bill online, it probably wouldn't be worth the risk/hassle to use my CC instead of my debit, but it only takes 30 seconds to pay my CC bill every week (and I have autopay to cover my ass if I forget).
Billy
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