Tight Budgets

[danbyrambler]

Been seeing mention of tight budgets here on CC for awhile - - - This might help some

 

If you have a credit score somewhere around 650 & up it's worth looking at the cash back offerings at http://www.creditcards.com/cash-back.php

 

Chase Freedom for example will give you $200 for opening an account & an extra $25 if you later add an authorized user, like the Mrs or whomever

The hook is you've gotta use it $500 worth inna 1st 3 months - That's all - - Don't have to have a balance oweing - Just use it 500 bucks worth - Gas-Groceries-Insurance-cable-phone-Whatever you're gonna spend anyway - - Not a scam & Chase has bonus 5% back on Gas July-Sept & Jan-Mar

 

BOA - Capital One - Citi & AmEx Everyday all have offers With a $500/1st 3month use excepting AmEx which is $1000 - AmEx has 3% back at supermarkets alla time-BOA 3% back for gas alla time - Cap1 1.5% back everywhere & free credit score report every time you log on - Discover also has this feature but has recently dropped their bonus for opening an account

 

A little free money - If you've already one of these cards you can open a new account in the Mrs name, for example, then close the existing when you get the new card

 

Hope this is useful

:thumbsup:

 

 

 

 

[Jeep Driver]

These card games that people play are for people with money, not tight budgets.

 

"Tight budgets" mean that people have no money, people with no money do not play money games.

 

I have no credit card, will not have credit cards, do not pay 27% interest.

[johnj92131]

Jeep Driver is correct - "These card games that people play are for people with money, not tight budgets."  They work if you pay off the balance in full each month.  If you do not pay it off every month then it doesn't work so well.  If your budget is tight and you pay late - well you will get the sharp end of the stick in your back side.  I use a Costco American Express card for just about everything and pay it off every month.  Once a year, I get a check back that I promptly spend at Costco for the most part.

 

I know some people who do like to play the multiple credit card games and get lots of airline miles, etc.  But I have found it to be more trouble than it is worth.  But that is just me.  Now, my better half likes to save grocery coupons - she gets a kick out of it.  Me?  I don't care to put out the effort.

[danbyrambler]

Seems I was less than clear - - Didn't realize it was necessary to point out that the best/easiest use of a rewards card is for stuff you are going to spend money on anyway - Gasoline - Food - Insurance - Tuition

 

Not advocating using a card to run up a BA debt & then make payments - - Keep it simple - just the $ you'll have to spend anyway - - Gonna spend $500 total inna next 3 months on Gas, Food, Insurance, Phone, Cable? - Chase Bank's offering $200 - - Too weak to resist the temptation of an evil credit card?  Is that what's bothering you, Bunky?  Then don't - Duh!

 

I use 3 cards - Chase/5% back on Gas - AmEx/3% back at supermarkets - CapOne/1.5% onna everything else - Money back autoed as account credit - Account balances PIF each month autoed from my checking account - - pretty simple game plan - - You'll spend more time here searching for a DW cure than managing a card or 2 online.

 

See Y'all at the next stockholders meeting

:thumbsup:

[86FUBAR]

These kind of deals are really good , me and the wife have done some of these over the years all with 100% effective ness but you have to make sure to stay on top of the payments etc... And watch the balances closely . It's just like the Home Depot 12-24 month no interest on purchase from 300$-1500$ etc...as long as you pay it off with in the time frame given then you save big but if you don't you get hit with pending interest and it's those people that screw up that they are counting on. If you look at the bill it breaks it down completely for you and if you still screw it up then you just suck at managing money.

[Eagle]

A little free money - If you've already one of these cards you can open a new account in the Mrs name, for example, then close the existing when you get the new card

There's no such thing as "free money." You are paying for it, somehow, somewhere. We are living in a time when banks may very well go from paying interest on deposits to charging for the privilege of letting them use your money ("negative interest," coming soon to a bank near you), so if you think any bank is giving you something ... think again.

[Incommando]

Playing these games is great when it works...but the casinos are full of people who believe that gambling works for them while in reality no matter how well they think they are doing it is the house the wins. 

[91Pioneer]

 

There's no such thing as "free money." You are paying for it, somehow, somewhere...

 

While I agree there is no such thing as "free money" especially when it comes to banks, the reality is that cost is being paid by all customers of that bank, whether you use the perk or not. So in this case, no big deal IMHO.

 

My Visa credit card has no annual fee, but pays a 1% dividend on all purchases made throughout the year. So they actually pay me the more I use it the more I get paid. I realize the 1% is coming from the merchant fees, but again, that's factored into the cost of goods/services sold, so no big deal. The folks paying cash are actually better for merchants because there are no fees associated with that transaction. If the merchants don't like it, they don't accept Visa (like Costco for example).

 

I've switched to using my Visa to pay for 99% of everything every day. I pay the entire balance every month instead of using my debit card and make cash back for doing so. It's also kind of "free money" which of course we know doesn't come out of thin air.