Spending more to get more rewards?

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Spending more to get more rewards?

Postby divea » Tue Nov 03, 2009 8:45 pm

Do you guys notice you spend more because you are getting credit card rewards? I have noticed I do that sometimes and I think a lot of people do to. They think the 2% cashback is an excuse to spend more money because they are saving a little bit.

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This is probably the case for some...

Postby jeffysdad » Wed Nov 04, 2009 8:47 am

I think there are times when the cashback helps grease the wheels on some purchases but not often.

I use CCs for ALL of my spending because of the rewards but also just as much for the float and the ability to track spending. I check transactions and balances on my cards intra-month. Along the way I ask myself whether all the spending was wise/necessary. This has helped me train myself to be more frugal. I have a fairly good idea where my balances should be during any time of the month; if I'm running up more debt than usual, I look for ways to scale back so as to come in "on budget" when the statements print.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Fri Nov 06, 2009 7:12 pm

When I had my first credit cards, yes I distinctively remember telling myself at least once when I was spending that it was okay to do so because of the cashback - it was a completely silly and nonsensical mindset! Fortunately, that didn't last for long and I have never spent out of control so it was never a problem.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

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Postby Cucumber » Wed Nov 18, 2009 2:13 am

I used to do that maybe a little when they had 5% on groceries and pharmacies. But w/o the cashback like that I have no motivation to spend lol
Stop talking crap about him!

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