AMEX BLUE.
I only use it for gas and groceries (making it easier to track those two important expenses) and I get around $565 back each December. That's free money around Christmas.
Credit Card Cash Back
- Thread starter Hawkman98
- Start date
I only use it for gas and groceries (making it easier to track those two important expenses) and I get around $565 back each December. That's free money around Christmas.
I have the AAdvantage card that is $99 per year. Because we are building this house and running as much of the expense through the card as possible I have Executive Platinum status and I think close to 400,000 miles right now. I just had a work conference in Cleveland and my flights were free, upgraded to First Class, free checked bags. We haven't paid for bags for years and I am guaranteed at the least the main cabin plus seats with the extra legroom. Even if we only flew once per year it would be worth it to me but I generally fly 3-5 times per year. I also get free lounge access if we are flying international.
As a travel professional I feel it is my duty to remind you that sometimes travel is to get away from people. Alaska in the offseason is spectacular and empty. As is Iceland.
So who do you think is paying those transaction fees? Do you think the retailer is paying them? He is passing them along to you'
In most circumstances the price you are paying includes their credit card costs whether you pay with cash, debit or credit.
Yes, the retailer pays them. Some retailers may offer a cash discount, but in my day to day experience, the price I pay is the same whether I pay in cash or credit. Accordingly, if you like the idea that the retailer is 'passing them on to you' I'd rather get the benefits of credit card rewards program if the price is the same regardless. I don't think that should be controversial or surprising.
And by not getting your “cash back” rewards you are letting the bank keep all of that added transactional cost.
I went to Hawaii for two weeks and spent NOTHING on airfare and NOTHING on hotel accommodations. Our only expenses were for meals, ground transportation and activities. AND we had F&B credits due to Hilton Diamond status erasing the first $36 of meals/drinks expenses each day.
Those expenses I didn't have because I'm holding credit cards would have been close to $10,000 had I paid for it all in cash.
Yes, I travel a lot and accumulate a lot of points from heads in beds and sitting in airplane seats, but a lot of the points were from promotions and credit card spend.
I have airline cards on each major airline and pretty much fly free or get upgrades.
Same here. We have an Amazon Rewards card which is 5% on Amazon and then everything else goes on the Fidelity Card. It's been a nice addition to my Roth over the years.
Rule #1: Never charge for something that you don't have money in the bank to pay off
Rule #2: See rule number 1.
Rule #3: Fake your own death
Rule #2: See rule number 1.
Rule #3: Fake your own death
Age 50 for me. Hopefully, that is early enough for me to enjoy a few years before I die.
Maybe I should have made it a little more clearer. I put all of my monthly bills on this credit card and any big expenses. I have never not paid off my bill at the end of the month so I pay no interest. I realize these cash back or rewards aren't going to make me rich, but I like free things for something I'm already doing.
I hate this take. Let’s do a hypothetical. Say that fees were no longer charged on groceries. Grocery stores could not charge a credit card fee. Would your grocery bill go down tomorrow? Of course not. If the fees went up 1% would the cost of something go up 1%. The point is that retailers will charge the absolute most they can possibly charge and still have people buy their product.
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