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Credit Card Reward Round Total Update & Mortgage Update

September 7th, 2011 at 08:00 pm

Officially Received, between 1/1/11 and 9/7/11:

$1030 cash (Chase Sapphire)
$1015 gift cards (Citi $500 + SW rewards $500)
$ 350 deposit to ROTH (Fidelity Am Ex)
-$99 annual fee (SW card)
-$23 lost value for exchanging some Citi gift cards for cash and amazon gift cards
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$2273 TOTAL

cha-ching!

Dh is still due $200 cash from Chase.

=$2473 TOTAL

Today I signed dh up for a reduced Southwest deal. Deal is to make one purchase, pay a $69 fee, and get $250 in amazon gift cards. (HE is eyeing the new kindle, so this will cover it. & how easy is it to just make one purchase)?

I've got my eye on a Citi deal - $300 gift card reward + no fee first year. BUT, I am going to hold out a bit and see if I can get a better direct mail offer. Or, maybe close all the other cards before I start this merry-go-round again. I think you have to spend $1500 in 3 months? I am waiting to redeem that $200 cash from Chase in a couple of weeks. So, I will re-evaluate at that time. For now, the SW card was a no-brainer since it only involved one purchase. Anything more complicated than that, I rather close the chapter on all the other cards first!

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If I get that $300 deal, I will probably turn it into cash for the school. Will see!

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MORTGAGE UPDATE

Expect to make an extra $450 mortgage payment this month, with credit card rewards.

This puts the balance to about $201,750. I had expected to use savings/Christmas money, etc. to pay this down to my $199,999 goal, but doesn't seem too necessary. Normal principal is around $300/month, and I can add $250/month for the rest of the year with no cable + payroll tax holiday (& piano lessons covered by MIL). So, that about covers it.

This is good, because I probably need to divert about $1500 from savings, to max out our ROTHs in 2011. We are on track to put in a full $10k this calendar year, but also diverted a LOT of that to fund tax year 2010. So, I ran the numbers and a $1500 deposit will get us maxed out by April.

I am keeping an eye on the market. If it REALLY tanks, I will slip in that $1500 earlier. IF not, will wait until the last minute (either December or April - just depends). For now, seems like lots of downward pressure on the markets, so I will wait it out and build up more cash, first.

$30,000 cash goal is still so close but so far!! Kids have dental appointments today, which is never good news! I also need to set aside about $1500 for taxes. (The usual was not withheld from my overtime - so will owe)! & that ROTH money I just mentioned. & so it goes - on and on and on!

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I got $10 off at Kohls (Kohls cash) for buying stuff with my free gift card. Woohoo! (I think usually when I spend enough to get Kohls cash - the last thing I need to do is go shopping there again)! But this was a little different.

I also have a 20% off coupon, so will buy myself a treat today. Probably a nice top that I can wear to work. I don't think I've bought any work clothes this year, and I am feeling the boring-ness of my wardrobe.

5 Responses to “Credit Card Reward Round Total Update & Mortgage Update”

  1. creditcardfree Says:

    Just curious: When the credit card companies ask why you are closing your account with them after such a short time, what do you say?

  2. MonkeyMama Says:

    Because I want to? Big Grin
    Actually, the last one I closed asked if I minded if they asked why. I suppose I could have said "yes, I mind." But I am usually pretty open that I have other cards with better rewards.

    Actually, what I usually say is, "I am no longer using the card and would like to close it." If they ask why am I not using it (they don't always), then I am usually pretty honest that I have better rewards elsewhere. Or because I don't intend to pay an annual fee.

    In the past, they would offer me the moon to stay (match any rewards, etc.). But, in the last 5 years or so, they don't seem to really blink at it. IT pretty much goes, "I wanna close my card." Response? "Okay - Done."

  3. Petunia 100 Says:

    You've racked up some nice rewards this year! Good job.

  4. Looking Forward Says:

    Awwwesome! Big Grin

  5. creditcardfree Says:

    Thanks for the response to my question. I was just curious how that went. I, of course, closed many cards years ago and simply told them I wasn't planning to use cc's anymore. When I read about all the reward money on these cards, I get very tempted. If my DH would agree, I would be on board!

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