Applying credit card for cash back reward

mathjak107 said:
the most lucrative deals are the premium cards not the free ones .

we rarely take advantage of the free ones as they are petty in comparison ….

even without much travel we have made out like bandits with the chase sapphire reserve and sapphire preferred.

be careful applying for all these small deals as many card issuers like chase who have these fabulous deals will not open you up if you have opened more than i think 4 or 5 cards in 24 months
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Good point ,I never have but 1 card at the time because you can sure get in over your head if your not good with your money and don't use the card properly and you have to pay on time too if you get a no interest card or you lose the free interest part of the card.
 

NorthernLight said:
No, I don't like most "deals." I like things to be very straightforward. If I get a credit card it's because I want a credit card, period.
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I'm usually like that, but I've been changing. I look for cash back offers that continue on. $200 is a tempting one time offer, but I usually disregard that, and I'm not sure why. US Bank lets you choose two categories each quarter that pay 5%, but they aren't categories that I use regularly. I never bothered using US Bank after I saw the categories. Verizon Wireless offers a cash back of 4% on both gas and groceries, which are my biggest expenses (usually) and 1% on everything else, and I only use it for gas and groceries, nothing else. Walmart gives a 5% discount if you use it's credit card, but that runs out after a year, and I'll quit using it. I also have a now unused card from Best Buy, where you get credit for future purchases, but they expire before I need to buy something. I also have a now unused LL Bean card that also gives credits, which lacks the flexibility of cash. I have a separate savings account where only my cash back is held. I do this savings account thing to keep track of the value of cash back, but in all honesty, I do it because I think it's fun.
 
those of us who reap thousands of dollars from these rewards want to thank those who don’t bother .

the credit card costs are all baked in to the prices of the items we all buy ..

if more took advantage of the rewards the costs of using the cards would go up along with the item prices .

so we just want to thank you for paying the price of admission but not taking advantage of getting anything back
 

mathjak107 said:
those of us who reap thousands of dollars from these rewards want to thank those who don’t bother .

the credit card costs are all baked in to the prices of the items we all buy ..

if more took advantage of the rewards the costs of using the cards would go up along with the item prices .

so we just want to thank you for paying the price of admission but not taking advantage of getting anything back
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That is like the many government programs. The people that know how to take advantage of the programs should thank the ones that do not bother and help pay for the programs.
 
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I love, love, love credit cards!
I start out by saying I pay full balance every month, automatically.
I haven't paid interest in at least 20 years.
What I have gotten free in return:
Airline trip for 2 on Hawaiian Air to Maui.
2 High end hotel stays for 14 days each in Maui.
Rental car paid for with credit card points.....in Maui
Ireland 5 star hotel stays in Dublin and Cork
Many Portland Maine hotel stays
NY hotel stays....and many more I have forgotten.
On the home front.....Samsung fridge, new stove, golf clubs and so many other products.
Bottom line, why use cash when you can use their money.
I take advantage of all sign-on point offers. Reading the fine print, when I finish using sign-on points, I will drop the card, wait the 24 months, and resign for additional points, or add a new card with a partner hotel or airline, and move the points.
I still have enough airline points for at least 2 trips on 4 different airlines.
I could pay cash, but why? Why leave free money on the table?
With 5 or 6 credit cards that are automatically paid each month, my credit rating is always in the 800's.
Everything gets put on the cards, gas, utility bills, groceries, phone, wi-fi, insurance, everything I can.
If I lose a card, no big deal, I'm not responsible for any fraudulent charges, and they get me a new card within days.
Credit card companies have a name for us.....deadbeats......Love it!
They are not crying though, they get their 2-4% on each transaction from the merchant. They would like to profit on both ends, merchant and consumer, but even if they get one side they are making money. Merchants try to recoup the costs through price increases, but the its the same cost for cash or credit.
Its sort of like career coupon-ing. Some people are obsessed with it.
 
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lots of eateries now have added surcharges for using credit cards .

they are allowed 3-4% as a processing fee .

so the handwriting on the wall is clear that pretty soon credit cards will be a thing of the past .

few that can pay cash are going to pay a premium …

i lost count of how many places near us now charge more for using cards
 
mathjak107 said:
lots of eateries now have added surcharges for using credit cards .

they are allowed 3-4% as a processing fee .

so the handwriting on the wall is clear that pretty soon credit cards will be a thing of the past .

few that can pay cash are going to pay a premium …

i lost count of how many places near us now charge more for using cards
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So far I haven't seen any restaurants here in Jersey that charge extra for using credit cards, but since the prices of restaurant meals has gone up, perhaps it's built in. One of the pizza shops we go to asks that you spend a certain amount to use cards and I've seen that in other places as well. Some smaller retail stores I've been to charge extra for using cards.
 
mathjak107 said:
lots of eateries now have added surcharges for using credit cards .

they are allowed 3-4% as a processing fee .

so the handwriting on the wall is clear that pretty soon credit cards will be a thing of the past .
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More likely: many of these restaurants will either change their policies or become a thing of the past themselves. Irritating one's customers with surcharges isn't the smartest move, particularly in NYC when there are numerous other choices.

They'd be wiser to raise their prices 4% and offer a 4% cash discount, explaining that it costs them 4% to process CCs.

Consumers are getting fed up with (perceived and real) opportunistic post-pandemic greed, including jack-up-the-bill restaurant surcharges.
 
I don't accept these offers because I still really on my trusty Chase Freedom card for discounts and cash back. However, I have a friend that does this frequently and I think she has almost made more money than she has spent! You just need to be really adept at this.
 
Remy said:
No, I've never got the cash back. I pay my credit card off every month. Very rare that I don't.

Now I have things that go on my credit card every month. I also pay my car and renters insurance when it's due on the insurer's web site with my card. But then I pay it off.

This month I'll have an Amazon book order in addition to the regular stuff.
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You can pay your credit card off every month (I do as well) and still receive cash back. I put our property taxes on my card in January and received a $349 credit back to my account. That was an extraordinarily high expenditure, but even during normal months I typically have enough points to go toward a couple of Amazon orders.

Chase also offers discounts on certain gift cards and with certain merchants. As an example, they are offering a 5% savings on Lyft. We used them on a recent trip and received a discount. They send updates indicating how much I have saved in the previous billing cycle. Last billing cycle I saved $49. I'll take it.
 
seadoug said:
I don't accept these offers because I still really on my trusty Chase Freedom card for discounts and cash back. However, I have a friend that does this frequently and I think she has almost made more money than she has spent! You just need to be really adept at this.
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"Adept". That's exactly it Doug. I can honestly say I've made at least $10,000 in cash backs over the last 10 or 11 years, maybe more, all from paying for stuff I'd otherwise pay by check and buying things I really need. Many don't even have $10,000 in their savings accounts, so it's nothing to sneeze at. But I have a note app that I sometimes refer to so I know which card to use and when. It lists the 5% quarterly bonus categories for Chase Freedom and Discover, which cards pay 3% rather than 1.5 or 2% at certain merchants, etc. Good money management may take a little time but I've always micro managed my finances so it's no big deal to me to keep track of these things. I have Chase Freedom and Chase Unlimited plus a few other cards.

Basically the rewards are from between 1.5% to 5% normally, but there are also special rewards for various companies that I get notified by emails from Chase and BOA. For instance Bank of America was offering $15 back on Chewy purchases of $49 or more. That almost 31% cash back! I assume you are getting those notifications in your email, shown as Chase Offers, since you have Chase Freedom and mentioned the discounts with certain merchants. I've seen offers as high as $30 off and 40% off.

@Dave03 People who can't handle credit properly definitely should stay away from using credit cards.

@Remy Paying your card in full each month (as I've always done) has nothing to do with your ability to earn cash back rewards. Are you saying you don't have a card that gives rewards?
 
here in new york most of the places surcharging are doing it illegally.

they can not post a sign at the register that says 3% surcharge for credit cards .

they can offer cash discounts but that means the menu prices must assume credit cards will be used and show the higher price .

or they can put two prices on the menu, one for cash and one for credit like gas stations do .

but they can’t have one price on the menu then tell you that it’s more because you are using credit

but many do exactly that now . i may confront them next time i run in to it
 
One thing I like about credit cards is that they help me keep track of how much I spend each month, at least in the past. Now that I use 4 credit cards, it's a bit harder because they all come due at different times, and it's not worth my time to total them up. I originally had just one card from my bank, and my checking, savings, and card information were all available at one place. My bank's cash back card was decent, but when I had a chance at 4% on gas and groceries, I signed up for Verizon Visa, and then realizing how much cash back builds up, I started exploring others. Some are duds, I got a Ducks Unlimited card because they offered 5% on gas, but 3 months later, they changed their structure and when to 2% on everything. So that card is at the bottom of a drawer somewhere. I should destroy it.

If you can't keep your impulse spending under control, credit cards should be avoided. Their interest rates are phenomenally high. Can you imagine companies that offer helping you get your credit card use under control. I know some people can't control their debt. Unfortunately, it's most likely to happen to people who can't afford it.
 
There is one gas station nearby that charges you more than their listed price if you use your card, but they don't tell you this. I bought gas there several times before I checked my receipt, and realized it was more than what the pump said. When I pointed it out, they told me about the surcharge. I avoid that place now just on the principle of their shady business model.
 
In Las Vegas some restaurants are charging a Concessions Fee. It goes by many names and will be posted in small font somewhere on the menu. They explain that it’s to help with their expenses. People can insist that it be removed, which many tourists won’t know especially after a few drinks. Online chat has said that they’ve seen it in their home towns too. I think I would notice something like this on the final bill but often they’ve an itemized break down that make it difficult to dissect; they count on that.
 
JustDave said:
There is one gas station nearby that charges you more than their listed price if you use your card, but they don't tell you this. I bought gas there several times before I checked my receipt, and realized it was more than what the pump said. When I pointed it out, they told me about the surcharge. I avoid that place now just on the principle of their shady business model.
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The gas stations here in Jersey list the prices if you use cash or if you use your card. Most of the time my son gets gas from Costco now because it's cheaper and they don't accept cash. Only Costco members can get gas from their stations.
 
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