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Rewards Card

March 9th, 2011 at 09:12 pm

Today I had a light bulb moment I would like to share.
My AMEX has a balance of $2774.89 @ 13.24%. The reason I got this card was because of the rewards program. Every $7,500 points you get $100 off any airline ticket. Currently, I'm 500 points away. This morning I took a look at the rewards program for the master card that I have and the rewards were alot better and I get 2 points for my purchases instead of 1. So here's what I was thinking. Pay all my recurring bills, cell phone, insurance, etc, with the master card instead of AMEX because of the lower APR and better rewards progam. I already have those expenses in my budget so the card will be paid off every month. Thoughts?

Posted in Credit Cards | 3 Comments »

3 Responses to “Rewards Card”

  1. momcents Says:
    March 9th, 2011 at 09:16 pm 1299705414
    1299705414


    I use my card for points. I pay my gym membership, my sewer and water bill, cable/phone/internet. Similarly, I pay them off every month. I've earned enough for a $50 Target gift card. That is how I plan on funding Christmas this year. (My bank issued credit cards get 4x the dollar amount charged).

  2. J-Money Says:
    March 10th, 2011 at 05:29 am 1299734953
    1299734953

    I would personally ditch the credit cards period -- people tend to spend more if they use a credit cards instead of cash. And $100 off airline tickets doesn't seem like that great of a deal, if you are carrying a high balance you will pay that (or close) in interest. Another concern is with yours being the only income for the family, if something happen to that income you wouldn't want to be strapped with credit card debt. good luck ;-)

  3. KiwiJo09 Says:
    March 10th, 2011 at 02:01 pm 1299765695
    1299765695

    I'm a little skeptical about using credit cards at all. (Well, working on it) But, if you are in it for the rewards program and as long as you pay off the account at the end of every month, I don't really see a problem.

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