Re:Identity Theft, Credit Reports, and You
by jaclaz on Saturday September 09, 2017 @10:21AM
(#15207202)
>There are more, but that's what $40 / month.
Help me understand, US$ 40 in rewards agains a monthly spending of?
Re:Identity Theft, Credit Reports, and You
by forbiddenlake on Saturday September 09, 2017 @11:21AM
(#15207483)
Assuming a good cash-back rate of 2%, $2000 spent on the credit card for $40 back.
The point being he's spending the $2000 anyway, so he'd rather get $40 back from his credit card company rather than $0 back if he used cash or debit.
Re:Identity Theft, Credit Reports, and You
by jaclaz on Saturday September 09, 2017 @12:03PM
(#15207666)
But cash-back is not the same as reward points.
Cash-back is "money", reward points (more or less) is "discount on given good".
Re:Identity Theft, Credit Reports, and You
by glitch003 on Saturday September 09, 2017 @07:15PM
(#15209619)
Many cards let you cash out rewards points now. With Chase, for example, you can get a check in the mail, use points to pay off your CC balance directly, or use points on amazon (at full value).
Re:Identity Theft, Credit Reports, and You
by tyscorp on Sunday September 10, 2017 @02:22AM
(#15211009)
Using Chase Ultimate Rewards points at Amazon is only worth 0.8 cents per point, not 1 cent per point like the others.
Re:Identity Theft, Credit Reports, and You
by tertius on Saturday September 09, 2017 @10:54AM
(#15207352)
Then you have to pay income tax on the churn.
- Car payments (they let me use credit cards with no fee, >$9 / month rewards)
- utilities ($1 fee, with >$1 rewards)
- Food (>$20 / month rewards)
- Gas (>$5 / month)
There are more, but that's what $40 / month. If you then use a churning method to get more points, like opening a new card where you spend $4000 in three months get $500 back, then it's even better. It depends how much you normally spend, but for me - I don't need to change spending habits. Just only use that single card.
Last year I made $2500 from credit cards with my standard spending. I took out three new cards, paid for my wedding, then paid them off. Haven't used them much since and I didn't need to spend any more than I normally would have.