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Credit Card Rewards Update

December 29th, 2013 at 08:28 am

I updated the numbers below. I will still have to tweak a few numbers as statements come in.

I did also add the $75 we earned from the AmEx Amazon deal.

If I add the Cap One ($152 savings bonus) I added this year, the grand total is $2,775 for the year. VERY close to last year's number. The Cap One wasn't a credit card, but it was really the same difference (but easier, since I only had to open the account and do nothing else). I won't officially include it in my totals because it was not tax-free. But for all intents and purposes I think it belongs in the same category.

{I don't have direct deposit and don't like/trust debit cards so have never been able to do any other checking account or savings account type bonus. I know there are ways around direct deposit rules, but then it is often "at your own risk" and seems like way more work than it is worth. May be re-evaluated in the future, if credit cards dry up. Since Cap One had no direct deposit or debit hoops to jump through, it was *super easy*}.



2013 TALLY:

$580 cash (Chase Sapphire triple dip moi)*
$430 cash (Chase Sapphire triple dip dh)*
$250 cash Citi (dh double dip? Triple dip?)
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$1260 TOTAL *ONE-TIME REWARDS*

+$ 525 deposit to ROTH (Fidelity Am Ex - 2% cash back)
+$ 25 cash back Fidelity Am Ex (bonus for some alternating category?)

+$475 AmExRewards (6% cash back groceries/3% fuel)

+$ 75 American Express Rewards ($25 x 3 cards)

+$ 85 Target rewards (5% discount Target purchases; mostly groceries)

+$ 178 Visa Rewards (1% cash back - for places that don't take AmEx - primarily dentist/insurance/utilities; had 2% reward for a couple of months this year - woohoo!)
----------------------------
=$2623 Total CC REWARDS 2013
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*triple dips = rewards redeemed for the third time. We redeemed once every 12 months or so.

Year 2011 = $4,164
Year 2012 = $2,782
Year 2013 = $2,623

Total 3 Years = $9,569
**Tax-Free Income!!**

Caveat: I don't recommend using credit cards at all unless you have the discipline to pay them off 100% within grace period. I have never in my life paid a fee or any interest to a credit card company. I don't think it's a big deal if you don't spend money that you don't have and therefore pay off the balance each and every month. This strategy has worked fine for me for full two decades.

2 Responses to “Credit Card Rewards Update”

  1. rob62521 Says:

    We totally agree on credit card use. Sometimes I'm more comfortable charging something than writing a check. At least if your card number gets stolen, you have some recourse. With electronic transfers and stuff, I'm always afraid someone will clean out our bank account.

  2. Peg Says:

    Did you mean intents and purposes when you stated "intensive purposes"?

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