Cash Back Results for December 2015

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Cash Back Results for December 2015

Postby CardAttack » Wed Dec 30, 2015 8:10 pm

I ran about $2,225 through my cards in December. That's my typical monthly send outside of my mortgage, insurance, and some utility bills that I can't put on my cards.

My cash back rate for this month was a little over 11%, not including sign up bonuses. The Amex offers and Freedom Amazon promotion helped a lot.

I've also been looking for other ways to save money. I carefully plan my grocery tripa to take advantage of store sales and coupons. I especially like the Publix gas card promos to save 20% on gas. I've also joined various reward programs to squeeze out some extra money. I also buy gift cards for at least 10% off on restaurants I frequent.

I'm now planning which savings accounts I'd like to open to take advantage of sign-up offers . That nicely complements my credit card cash back strategy.

How have you all done this year for cash back? Do you have other strategies you'd like to share?
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Re: Cash Back Results for December 2015

Postby kdm31091 » Mon Jan 04, 2016 8:54 am

My strategy in my mind has steadily shifted towards not spreading the spend across 7 or more cards, and instead concentrating more spend on to less cards. While you do technically leave some rewards on the table this way, you make up for it (at least, IMO) in simplicity and getting to a meaningful amount of rewards quicker. You also don't have as much headache with a bunch of rewards scattered into different programs. For some that may not be an issue, but for my spend level and income, it's not really worth spreading the spend all too much.

Lately, I've been using Discover more and more. There's really no reason not to, as since I snuck in with the double promo, it's at least 2% on everything. I could use my Double Cash of course, but Discover has been nothing but good to me and I want to at least give them some business (especially since the gas quarter is more or less useless to me so I won't be using it much on the bonus category). There are no headaches with Discover rewards...redeem anytime, can direct deposit right into my checking acct or get a gift card (which I like) with extra value, etc. They have steadily raised my limit. lowered my APR and showed they valued me as a customer. So...why NOT use it? I'm not really losing out on much.

Having said that, I still try to give my other cards some activity (cash+ is useful for certain things, etc). I just find for me the "less is more" approach results in a more fruitful reward overall, vs having $5 in rewards on 10 cards which I cannot easily combine. YMMV.

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Re: Cash Back Results for December 2015

Postby takeshi » Tue Jan 05, 2016 9:11 am

CardAttack wrote:How have you all done this year for cash back?

Looks like about $1,700 for the year though that includes some UR's that could have probably been redeemed at a higher rate. Still, it's all just gravy.

CardAttack wrote:Do you have other strategies you'd like to share?

I'm only willing to expend so much effort on this. I'll use Amex, Discover and UR offers and that's about it aside from cards that earn at higher rates on spend categories that I use quite a bit. Also using Discover while the Double Cash Back promo is running. Was using their Apple Pay promo until it ended.

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