I will put anything and everything on various reward credit cards to maximize cash back/points/etc as long as the merchant does not offer a cash discount/card fee. Are there any instances were you prefer to pay in cash resulting in the loss of rewards points?
What all do you put on a rewards credit card?
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126 Replies |
Last: 2 yr ago by Ag92NGranbury
I put everything on my card except for the handful of places that prefer debit like Specs.
Ask the general board and see the responses.
Ask the general board and see the responses.
Well I did ask F16 but they all use cash so the "can't be tracked". One poster even said he prefers to sell horses for cash in order to buy groceries.
Card depends on the purchase.
Restaurants/Travel - Chase Sapphire
Groceries/Streaming Services/Gas - AMEX Blue Preferred
Everything else - USAA Limitless 2.5%, downgraded to 1.5% on Jan 1 so I'll have to reevaluate
Restaurants/Travel - Chase Sapphire
Groceries/Streaming Services/Gas - AMEX Blue Preferred
Everything else - USAA Limitless 2.5%, downgraded to 1.5% on Jan 1 so I'll have to reevaluate
As a rule I never use my debit card whatsoever, outside of the ATM when I need cash for some reason. Which is usually like twice a year at most.
For gas, I use my gas card which is tied directly to my bank. Outside of that, everything goes on my WF Active Cash Card.
Debit cards are the devil. Never use one if you can help it. If your card info is ever stolen/cloned and fraudulent charges made, good luck ever seeing that money back, much less in timely fashion.
Never mind the fact that you're leaving free money on the table. The trick is to not treat credit cards like credit. Tie everything to Mint, track your assets/debts together, and never spend what you don't have.
For gas, I use my gas card which is tied directly to my bank. Outside of that, everything goes on my WF Active Cash Card.
Debit cards are the devil. Never use one if you can help it. If your card info is ever stolen/cloned and fraudulent charges made, good luck ever seeing that money back, much less in timely fashion.
Never mind the fact that you're leaving free money on the table. The trick is to not treat credit cards like credit. Tie everything to Mint, track your assets/debts together, and never spend what you don't have.
Everything possible that does not come with some stupid fee. I don't think I have used a debit card for anything in the past 15 years besides pulling out cash from an ATM.
Seems like most travel ends up on AMEX, particularly when a property is in their "fine hotels and resorts" program as those benefits seem to be pretty attractive when booked through AMEX travel (along with the rewards point multiplier).
Everything else goes on the Fidelity unlimited 2% cash back card because I'm too lazy to track spend categories.
Everything else goes on the Fidelity unlimited 2% cash back card because I'm too lazy to track spend categories.
I put everything I buy on my Fidelity Visa like the poster above does. The only exception is when the fee for paying with a credit card (i.e. tuition for my son) is greater than 2%. I don't own a debit card.
Teslag said:
Well I did ask F16 but they all use cash so the "can't be tracked". One poster even said he prefers to sell horses for cash in order to buy groceries.
I'm sure this lie sounded good in your head, but it's a lie nonetheless....
The point I made on that thread and 100% stand behind, is cash transactions that occur - be that selling a pony, a loaf of bread, or whatever other commodity a person might sell for a livelihood - and being paid in cash for it could potentially eliminate income tax from the transaction, thus making the cash worth substantially more than taxed income. You are a simple minded, smart ass that has probably achieved the pinnacle of your financial success at some low level sales position. Congrats on running here to try and score internet points though, buddy.
I sometimes pay with gift cards I bought from Amazon where I get 5% cash back or from the grocery store where I get 6% cash back
I have a problem
I have a problem
For most expenses -
Alliant Visa 2.5% back (3.5% for the first year)
Failover CC - USAA Visa 1.5% back
For Groceries & Dining:
Amex Rose - 4x points
For Biz Expenses
Amex Plat - Misc point perks & travel
For Biz Expenses for Gas/trucks
Amex Gold - 4x points
Alliant Visa 2.5% back (3.5% for the first year)
Failover CC - USAA Visa 1.5% back
For Groceries & Dining:
Amex Rose - 4x points
For Biz Expenses
Amex Plat - Misc point perks & travel
For Biz Expenses for Gas/trucks
Amex Gold - 4x points
Groceries, gas/Amazon/Ebay/Uber/Lyft gift cards - Amex BC preferred 6%
Restaurants/bars(most months), occasional plane tickets - Citi Custom Cash 5%
Bills/utilities- Valley Max Cash 5%
gym, entertainment(concert/fest/event tix) - 2nd Valley Max Cash 5%
online purchases - BOA Cash Rewards 3%
Restaurants/bars(months I use Citi CC for another category) - 2nd BOA Cash Rewards 3%
everything else - Citi DC 2%
usually only carry around the Amex and Citi's
Restaurants/bars(most months), occasional plane tickets - Citi Custom Cash 5%
Bills/utilities- Valley Max Cash 5%
gym, entertainment(concert/fest/event tix) - 2nd Valley Max Cash 5%
online purchases - BOA Cash Rewards 3%
Restaurants/bars(months I use Citi CC for another category) - 2nd BOA Cash Rewards 3%
everything else - Citi DC 2%
usually only carry around the Amex and Citi's
Moved away from others and now put everything on the Sapphire Reserve. It has a high annual fee but that can be made up easily with perks and point structure (1X, 3X, 5X, 10X).
Why not earn points when I would typically use debit/cash...additionally, Chase has many partnerships for redeeming points.
I put everything on it.
Still carry Citi Simplicity, Citi DC, AmEX Blue Business Plus, but stopped using them along with Capital One Venture and BofA (Spirit) - yuck/crap
Why not earn points when I would typically use debit/cash...additionally, Chase has many partnerships for redeeming points.
I put everything on it.
Still carry Citi Simplicity, Citi DC, AmEX Blue Business Plus, but stopped using them along with Capital One Venture and BofA (Spirit) - yuck/crap
Quiet. There's real money guys here outlining how they maximise returns on their spending.
I calculated it a couple years ago, and IIRC, you have to spend $1300/month to cover the fee (travel credit taken out). I love the card and we only use it for eating out, travel expenses, and monthly household bills, so the monthly break even is lower with food/travel points earned.
Tip…great value for points is to transfer points to your Hyatt account to book with points.
Tip…great value for points is to transfer points to your Hyatt account to book with points.
*Very* important to run your numbers to see how things play out with rewards.
Certain cards might be beneficial at 1k spend a month and nearly worthless at 10k/mo.
Nerd wallet and other simulators can help you with your scenarios.
Certain cards might be beneficial at 1k spend a month and nearly worthless at 10k/mo.
Nerd wallet and other simulators can help you with your scenarios.
aTm2004 said:
I calculated it a couple years ago, and IIRC, you have to spend $1300/month to cover the fee (travel credit taken out). I love the card and we only use it for eating out, travel expenses, and monthly household bills, so the monthly break even is lower with food/travel points earned.
Tip…great value for points is to transfer points to your Hyatt account to book with points.
Seems about right. My granddaughter's daycare covers that at $1,300/mo.
I put all fuel, groceries, dining, and bills on it as well. For travel I like the freedom of their hotel partners but typically use Bonvoy/Marriott family Iirc many of the transfer points are 1:1 which is excellent. . I loathed my BodA spirit rewards and like the flexibility of this card with airlines.
Teslag said:
Quiet. There's real money guys here outlining how they maximise returns on their spending.
Congrats on continuing to be a pompous ass.
Merry Christmas.
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USAA reducing their rewards from 2.5% and 2% to 1.5% really really rustles my jimmies.aTm_bomb said:
Card depends on the purchase.
Restaurants/Travel - Chase Sapphire
Groceries/Streaming Services/Gas - AMEX Blue Preferred
Everything else - USAA Limitless 2.5%, downgraded to 1.5% on Jan 1 so I'll have to reevaluate
We don't need to be reducing the cashback on the card so that we can pay for Gronk's hefty sponsorship of USAA or the stupid amount of advertising they seem to be doing. Come on....
Rant over.
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The real kick in the nuts was when they sent the letter, they also sent me a cheap plastic Yeti looking knockoff coffee mug. Even slapped a giant USAA logo on it. I'll take my 1% back please...Red Pear BCS Luke said:USAA reducing their rewards from 2.5% and 2% to 1.5% really really rustles my jimmies.aTm_bomb said:
Card depends on the purchase.
Restaurants/Travel - Chase Sapphire
Groceries/Streaming Services/Gas - AMEX Blue Preferred
Everything else - USAA Limitless 2.5%, downgraded to 1.5% on Jan 1 so I'll have to reevaluate
We don't need to be reducing the cashback on the card so that we can pay for Gronk's hefty sponsorship of USAA or the stupid amount of advertising they seem to be doing. Come on....
Rant over.
Also have the Fidelity Rewards Visa. Will usually put everything I can on it. 2% back goes automatically into a Fidelity Brokerage account and invested monthly.
I might just be bad at the google, but which simulator on Nerd Wallet are you talking about? I can't find it.Ag92NGranbury said:
Nerd wallet and other simulators can help you with your scenarios.
How exactly can rewards be worth less if you spend more?
No, I do this regularly for Amazon because it is so easy to load the cards on the site. I should do it with other things (Uber, Lowes), but I'm too lazy. Wait for 4x point days at Kroger and you're basically getting 6%-8% back in fuel points (depends on size of tank) plus whatever credit card rewards.
Some cards have caps on rewards
Question, when calculating this are you comparing the card to no card or to other cards?aTm2004 said:
I calculated it a couple years ago, and IIRC, you have to spend $1300/month to cover the fee (travel credit taken out). I love the card and we only use it for eating out, travel expenses, and monthly household bills, so the monthly break even is lower with food/travel points earned.
Tip…great value for points is to transfer points to your Hyatt account to book with points.
We have the AMEX platinum and will cancel this year with the increased fee. Do we still see more benefit/value in the card that more than covers the fee? Absolutely. But I can go to lower cost/free cards and see some of those benefits as well.....
Red Pear BCS Luke said:USAA reducing their rewards from 2.5% and 2% to 1.5% really really rustles my jimmies.aTm_bomb said:
Card depends on the purchase.
Restaurants/Travel - Chase Sapphire
Groceries/Streaming Services/Gas - AMEX Blue Preferred
Everything else - USAA Limitless 2.5%, downgraded to 1.5% on Jan 1 so I'll have to reevaluate
We don't need to be reducing the cashback on the card so that we can pay for Gronk's hefty sponsorship of USAA or the stupid amount of advertising they seem to be doing. Come on....
Rant over.
Don't forget all the penalties they're paying for the bank's problems.
Another way to maximize earnings / savings - if you have any cash income that's not taxed, you can use it to buy money orders to pay off credit cards that are used for non-deductible goods or services - groceries, electric bills, scheels, cabelas, etc. Not only will you benefit from the points - regardless of your card choice - but the cash you use will be worth 25-40% more than taxable income.
This is the point that went over the OP's head.
This is the point that went over the OP's head.
Tom Doniphon said:
Another way to maximize earnings / savings - if you have any cash income that's not taxed, you can use it to buy money orders to pay off credit cards that are used for non-deductible goods or services - groceries, electric bills, scheels, cabelas, etc. Not only will you benefit from the points - regardless of your card choice - but the cash you use will be worth 25-40% more than taxable income.
This is the point that went over the OP's head.
Just have to keep them under $3000 per day. Also, bounce around so that you don't get noticed by the issuers.
Correct!
what am I missing here, is the need to buy money orders to avoid some consequence of having to deposit the cash?
haven't dabbled much in stripping/drugdealing yet
haven't dabbled much in stripping/drugdealing yet
Everything but our mortgage, payment to housekeeper, and occasional purchase at Spec's goes on one card.
I also think it's short sighted to clown on people for paying cash. When we move to US CBDC, that's essentially one of two seals broken for the 1984 End Times of the USA.
Very good chance we will lament the days of cash and digital payments before the federal government had full control of it all end to end.
I also think it's short sighted to clown on people for paying cash. When we move to US CBDC, that's essentially one of two seals broken for the 1984 End Times of the USA.
Very good chance we will lament the days of cash and digital payments before the federal government had full control of it all end to end.
Does anyone use The Association of Former Students Bank of America VISA Signature card?
3% gas/online shopping
2% grocery
1% everywhere else
Is this anything special? Largest expenses are house and grocery. Don't travel enough to need any hotel or flight stuff
3% gas/online shopping
2% grocery
1% everywhere else
Is this anything special? Largest expenses are house and grocery. Don't travel enough to need any hotel or flight stuff
Nm
Tom Doniphon said:
I'm sure this lie sounded good in your head, but it's a lie nonetheless....
The point I made on that thread and 100% stand behind, is cash transactions that occur - be that selling a pony, a loaf of bread, or whatever other commodity a person might sell for a livelihood - and being paid in cash for it could potentially eliminate income tax from the transaction, thus making the cash worth substantially more than taxed income. You are a simple minded, smart ass that has probably achieved the pinnacle of your financial success at some low level sales position. Congrats on running here to try and score internet points though, buddy.
Just to confirm, we're talking about tax evasion, right? What tax rules exist that allow different tax treatment based on whether someone pays in cash or on credit?
You may be... I claim 100% of my income and pay every penny I owe!
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