Do you play the cash back credit card game ??

OldAndInTheWay said:
No. I don't have money like that. I do have medical insurance. And I am very fortunate, at this point, not to have had any major medical issues. However, I do notice a tinge of anger in your question. Why? I was just saying that I don't like credit card debt nor do I trust those companies.
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No tinge of anger just curios. Having a credit card doesn't mean a person has to carry debt. Just seemed a bit foolish to not have a means to buy needs, delay payment get cash back on those needs then pay the card charges in full so there would be no interest.

I couldn't begin to guess how many time we've bought a major item on sale then get cash back on top of the savings. Having the cash to pay at the time gets a small amount of interest waiting until the 30 days until the credit card statement shows up. At the end of the day it's your money to do with as you please, not getting something for it is your choice.
 

Knight said:
No tinge of anger just curios. Having a credit card doesn't mean a person has to carry debt. Just seemed a bit foolish to not have a means to buy needs, delay payment get cash back on those needs then pay the card charges in full so there would be no interest.

I couldn't begin to guess how many time we've bought a major item on sale then get cash back on top of the savings. Having the cash to pay at the time gets a small amount of interest waiting until the 30 days until the credit card statement shows up. At the end of the day it's your money to do with as you please, not getting something for it is your choice.
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i agree 100% with what you said ..but what i object to is when misinformed people perpetuate myths that can effect other people ..

things like i have to carry a balance on the card and pay interest or the credit card company is out to trick me even if i pay my bill in full is just a lot of nonsense .....

then you have those who brag about not spending money , eating out or go anywhere and then ask others if they want to live like they do ? what kind of answers would one expect to get.

my reply's are never sugar coated , i call it as i see it .
 
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Trade said:
Nope.

My only credit card is through a credit union that I have been with for over 40 years. It has no fees and no gimmicks and that's the way I like things to be.
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I'm so glad I fell for those gimmicks Trade! I'm loving the more than $6,000 I've gotten in cash back rewards over the last 11 years. :p
 

OneEyedDiva said:
I'm so glad I fell for those gimmicks Trade! I'm loving the more than $6,000 I've gotten in cash back rewards over the last 11 years. :p
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Just don't think some people understand how that works. Its important to know how it works. One time I paid off my Mastercard bill with a Discover card (right after they first came out). Never acquired interest but they were having a "launch" promotion from Discover - remember when Sears first came out with it? It was something like "use this card for $$$$ and get back $$ dollars or something- no limit "hold 'em". So, just kept paying off the M/C card with the Discover card and then paid off the Discover card before any interest was due on it.

Well, one day soon after the promo ended, got a phone call from a guy, who identified himself as a Sears VP of Finance, asking a lot of questions about it. I ask him why he was asking and he told me I had managed to find the single flaw in their new card marketing campaign! Go figure, huh. Bunch of suits - lawyer'd up guys sitting around a conference table can't figure out what one dumb chick in Texas could. Incidentally, we'd just Mastercarded this joint, which was why I'd thought to do it..never had a mortgage on it - was a diy project. Heck of a big one, but one none the less.
 
There is no such thing as a free lunch. If it sounds too good to be true, then it probably is.

From investopedia - Cashback rewards sound enticing, and they can help certain consumers save a bit on credit card purchases. However, once the restrictions and qualifications are spelled out in the fine print, including any limitations on how much cash back credit card users can earn per year, these programs do not appear as generous as they may seem on the surface.

Because these programs are incentives for consumers to use their credit cards in lieu of cash or debit cards, they generate increased merchant fees for the credit card company and may also cause some consumers to increase their debt, providing yet another source of revenue for the credit card company. Rather than draining corporate profits, cash back rewards programs are ingenious marketing tools that actually increase credit card companies' bottom lines.
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Who do you think pays for the rewards, that's right the consumer, higher prices to cover the retailers cost.
 
Knight said:
No tinge of anger just curios. Having a credit card doesn't mean a person has to carry debt. Just seemed a bit foolish to not have a means to buy needs, delay payment get cash back on those needs then pay the card charges in full so there would be no interest.
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Ditto..........
 
Roadwarrior said:
There is no such thing as a free lunch. If it sounds too good to be true, then it probably is.



Who do you think pays for the rewards, that's right the consumer, higher prices to cover the retailers cost.
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which is why as a responsible card user i want my share back .... i get 5% back on selected categories every quarter on my chase unlimited card which when moved to my chase sapphire reserve card get a 50% boost through their travel portal . so i get as much as 7.50% back for nothing except using the card and paying the same prices you all pay ....

so let all those who enjoy paying for our points keep doing it and getting nothing back in return, it sweetens the deals the rest of us get ..so .thanks again to those who are paying for our points and cash back and taking nothing for themselves .!
 
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I get a kick out of my little bit of cash back every month. Usually it's between $25 and $40 but I've always been one to see the value in how even small amounts add up.

We use two cards with different percentages according to the type of purchase. All of our insurances and house stuff such as the electric bill go on the credit cards. We pay off the cards in full every month and we're not the type who are enticed to buy more just because we use credit cards.

I like that extra $300 - $500 cashback yearly that we get just because of the method of payment we use. We have to pay for things somehow so might as well work it to our advantage.
 
that is what financially smart people do . they play situations to their advantage , while the financially mis-informed go on believing their own bull-sh*t.. you see it rght here with the most illogical excuses for not doing something that rewards them .
 
Red Cinders said:
I get a kick out of my little bit of cash back every month. Usually it's between $25 and $40 but I've always been one to see the value in how even small amounts add up.

We use two cards with different percentages according to the type of purchase. All of our insurances and house stuff such as the electric bill go on the credit cards. We pay off the cards in full every month and we're not the type who are enticed to buy more just because we use credit cards.

I like that extra $300 - $500 cashback yearly that we get just because of the method of payment we use. We have to pay for things somehow so might as well work it to our advantage.
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Yep, to us its a no brainer and "found money". Welcome to the forum, by the way. Hope you truly enjoy it here!
 
Islandgypsy said:
Again, a friendly forum where the members make an effort to eliminate their hurtful comments before they post them. Are we here to share our aged life experiences and comfort each other or are we here seeking combatants to abuse to vent our displaced agression?
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People join forums for many reasons; mostly for discussion and a bit of socializing. That said, forum participants are varied personalities--the same as people everywhere. Responses are as varied as the people who make them. As long as the posts are not breaking forum rules, people will speak their minds.
 
I “play” the game regularly, have two major cards and have not paid any interest in over 20 years. We also have big box building store cards. I am a builder (still do small jobs) and use them, if a certain one has 11 %, I will check prices and pick the material up there if best price. Then I will get the 11% and if it is over a couple hundred bucks, I will also use their store card for a plus 2 %. If it is under say 200 dollars, I will use my regular card but only for the 1 %. Why you ask, the game, if it is under the stamp to pay the bill will eat up the extra 1%.
Once a person I knew needed a garage door put in, he and his wife were always in financial dire straits. I told him I would help him out, do the work if he bought the material. He also had no truck, so I picked up the material as well. At one of the big box lumber sheds I get a 10% discount. He had cash and gave me the $400 dollars to buy the material. I got to the checkout and the girl gave me the discount, saving him $40. The girl asked would you like to open a charge account today and say $50 more dollars. Now I have a card from that store and said, “no thank you.” A light came on in my brain and I said sure. Now I have two cards from that store-, have never paid them one dime in interest ever. He watched me do that and it took about three minutes. He has terrible credit and said he could never have done that. Than he asked if he could have the fifty bucks I saved on top of the ten percent. Fast forward five years and I got a letter saying they are dropping my credit line from 8000 to 6000 for nonuse on that card.
 
ronaldj touched on something that might not be considered. His friend had poor credit rating & doubted he would get a credit card the same as ronaldj.

Poor credit typically means a much higher % rate for those applying for a new card. If the person for whatever reason built up a poor credit rating it stands to reason paying the higher % charges completely at the end of the month isn't going to happen. Could be those that think credit card cash back is a game aren't positioned to take advantage of the wise use of credit.
 
I have a well over 800 credit score and pay all cards off each and every month so interest is O. has been for over 25 years and all the time on most of our cards
 
ronaldj said:
I have a well over 800 credit score and pay all cards off each and every month so interest is O. has been for over 25 years and all the time on most of our cards
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Yep, ditto for us. For many years we haven't needed any kind of credit, thank heavens. Life is good!
 
Doesn't the cash back amount depend on how much you spend? For the year of 2019 I only got $82 cash back, but I don't spend much.

I have a Discover and a Chase Freedom Unlimited and a 820+ Fico. I seldom use Discover because most of their revolving promotions are not places that I shop at. And my Chase only gives 1.5% cashback on everything. What am I missing?
 
Catlady said:
Doesn't the cash back amount depend on how much you spend? For the year of 2019 I only got $82 cash back, but I don't spend much.

I have a Discover and a Chase Freedom Unlimited and a 820+ Fico. I seldom use Discover because most of their revolving promotions are not places that I shop at. And my Chase only gives 1.5% cashback on everything. What am I missing?
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It is based on a percentage of what you spend .... with a 2% back card you get 2.00 back per 100 spent ....I just spent 8000 on dental and got 160 dollars back
 
It's been almost a year since my impromptu opening of another credit account (at the urgings of a bank executive). I need the 15 months interest fee deal that's being offered now by Capital One Savory since I never got started with the kitchen remodel and new flooring I was planning when I got the Chase card earlier this year (which offered $150 cash back and 18 months). Capital One Savory presently has a $300 cash back offer when spending $3,000 in three months.
 
OneEyedDiva said:
Do you take advantage of the Discover 5% categories Catlady? I already have 4 of the cards listed in the link and am looking to get another...as mentioned in my post above.
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Most of the times it's for merchants I don't go to. Like Petsmart, restaurants, uber, lyft, wallgreens, CVS, . I should make sure to sign up in the fall, I buy a lot from Amazon and Walmart. I didn't do it this fall.

EDIT: The Blue Cash at American Express listed at my link sounds good for cash back and the $250 bonus, but they charge $95 a year, good for big spenders though. Check it out if you plan on spending on the kitchen remodel.
 
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OneEyedDiva said:
This year I've gotten back $613 cash (which I applied to the card payments) with another $17 on hold, awaiting the $25 mark.
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I use my Chase Unlimited for most of my purchases. Every quarter I do what you do, use the cash back balance to apply to my payments. Next year I will pay more attention to take advantage of the 5% cash backs at Chase and Discover. This year I mainly used Discover to get cash, Chase does not give cash. I don't want to have to go to the bank to get cash for small purchases.
 
Catlady said:
I use my Chase Unlimited for most of my purchases. Every quarter I do what you do, use the cash back balance to apply to my payments. Next year I will pay more attention to take advantage of the 5% cash backs at Chase and Discover. This year I mainly used Discover to get cash, Chase does not give cash. I don't want to have to go to the bank to get cash for small purchases.
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Catlady, Oh yes...5 times the cash back is certainly better. I only use my Chase Unlimited at Costco because it does give 1/2% more than the plain Freedom. The 5% cash back cannot be used at wholesale clubs and Walmart. Chase gives the option of depositing the cash back bonuses into my checking account or using them for statement credits. I have both the Freedom and Freedom Unlimited. It is my understanding that the Unlimited does not offer the 5% cash back categories. If I'm wrong, let me know. I've never seen them advertised for that card.
 


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