Credit card rewards
- Thread starter Munch
- Start date
Here's some info I came across...
http://www.noobtraveler.com/using-c...les-or-meet-minimum-spend-with-your-mortgage/
Many of us use a rewards card to earn cash back. This is a great deal specially to those who fad of using credit card. Most of these rewards are obtain through spending, while Bank of America's Bankamericard is the different. It incentivizes consumers for paying their regular bills on time and for throwing in a little more over their minimum charge. Get it here: Bankamericard Better Balance Rewards Card.
Have you tried Bankamericard? It's BofA's reward card, which rewards consumers for paying their regular monthly bills instead of spending. BankAmericard Better Balance Rewards card targets consumers with lower incomes and fair-to-poor credit, speculates the Los Angeles Times. Read this here: Bankamericard Better Balance Rewards Card.
not sure if its cause I'm on mobile and something's jacked up but link sends you here... https://personalmoneynetwork.com/
Interesting new twist, I noticed that when I charge $1000 to my Capital One Visa, I'm getting 2000 points.
I use Amazon Payments to charge my card, and send myself the $$ actually. So in the course of a month of sending myself $3000, using this card, I'm getting 6000 points. Which I then use 5,000 points to purchase $50 gift card to various stores. The other 1,000 points stays banked until I get upto a redeemable amount.
Most card give you $1 per $100 spent, or 1% cashback, this essentially double that
I use Amazon Payments to charge my card, and send myself the $$ actually. So in the course of a month of sending myself $3000, using this card, I'm getting 6000 points. Which I then use 5,000 points to purchase $50 gift card to various stores. The other 1,000 points stays banked until I get upto a redeemable amount.
Most card give you $1 per $100 spent, or 1% cashback, this essentially double that
Well, it's not a loophole, there's nothing to catch. I just hadn't realized that Capital 1 is 2% cashback on everything (most are 1% or have special rewards - AMEX is 3% on dining, etc). It's just what they reward for using the card. If I could charge 100k a month on it I would, simply for the points. As long as you don't pay interest on it, you're good. I charge everything I can on cards... wish I could do mortgage, kids student loans, etc
Last edited by a moderator:
Yes, you're actually correct, I am purchasing nothing. I charge my card, using amazon payments. I withdraw to $$ my bank, I pay my credit card in full. I do this 3x a month. So I pay myself $3000, and pay the cards $3000. Net = zero.
The only gain is I'm awarded points for using the card - 2% which is $60 in giftcards monthly. It's a lil work, but takes 5 minutes the first day of each month. $60 a month, $720 a year, x years, it adds up.
Heck that makes my internet free
Just setup an Amazon payments account for each person in your house, you can expand as much as you can.
Amazon used to have a higher limit of spending without being charged, but they capped it at 1k a month per account, to limit this.
The only gain is I'm awarded points for using the card - 2% which is $60 in giftcards monthly. It's a lil work, but takes 5 minutes the first day of each month. $60 a month, $720 a year, x years, it adds up.
Heck that makes my internet free
Just setup an Amazon payments account for each person in your house, you can expand as much as you can.
Amazon used to have a higher limit of spending without being charged, but they capped it at 1k a month per account, to limit this.
Last edited by a moderator: