Statement credit vs gift cards or other rewards

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13 posts
4ktvs
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Re: Statement credit vs gift cards or other rewards

Postby 4ktvs » Sun Dec 27, 2015 11:05 pm

augiedog wrote:I like the statement credits more than gift cards. You can use the money wherever you want and you're not restricted by terms of the gift card. Plus all the hassle of redeeming gift cards, putting them in your wallet, or storing them in your phone.

Although, direct deposits are even more exciting because I get to see the money in my checking account for a short amount of time!


I like statement credits the most as I view reward cards as "discount cards" more than trying to get a reward. For me personally I feel much better at getting a statement credit than dealing with points that are highly limited or giftcard's that are also limited.

The thing I want to avoid most is the trap of ever spending more just because of a rewards program than I had planned to spend.


kdm31091
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Re: Statement credit vs gift cards or other rewards

Postby kdm31091 » Mon Dec 28, 2015 7:47 am

4ktvs wrote:
augiedog wrote:I like the statement credits more than gift cards. You can use the money wherever you want and you're not restricted by terms of the gift card. Plus all the hassle of redeeming gift cards, putting them in your wallet, or storing them in your phone.

Although, direct deposits are even more exciting because I get to see the money in my checking account for a short amount of time!


I like statement credits the most as I view reward cards as "discount cards" more than trying to get a reward. For me personally I feel much better at getting a statement credit than dealing with points that are highly limited or giftcard's that are also limited.

The thing I want to avoid most is the trap of ever spending more just because of a rewards program than I had planned to spend.


And unfortunately, it's a trap many fall for. At the end of the day, rewards were created so that consumers spend more money and in most cases, it works beautifully. Look at the number of posters on other forums spending themselves into debt just to get 3% back on something. If one cannot have self control, then going after rewards needs to not be a priority (or just plain not happen at all). Some people just let rewards overshadow basically everything else. There's no doubt in my mind that some people would have been better off never learning about rewards.

If you can control and budget just like you do, then you're spending what you already would spend and gaining something in the process -- a win win situation.

takeshi
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Re: Statement credit vs gift cards or other rewards

Postby takeshi » Mon Dec 28, 2015 9:01 am

kdm31091 wrote:What do you guys think?

Doesn't really matter to me as long as I have a balance to credit against. It did bother me a bit that I had a $50 credit balance on my BCP for a couple of months because of a statement credit and lack of use but the card was eventually used. Rewards are just gravy. I want as much gravy as possible but it's still gravy.



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