Credit Card Rewards

Save Make Invest
Jul 26, 2017 · 2 min read

How I make extra cash and rewards by paying with a credit card.

As a disclaimer, if you have credit card debt this is not for you. Credit cards with rewards programs typically have higher interest rates. The 1% cash back may not be worth the 5% more on interest. If you carry a balance on your credit card, pay it off. You are paying someone a premium price to borrow their money.

If, on the other hand, you pay your credit card balance off every month this is for you.

Pick Out The Best Card For You

To find a card for you, check out a comparison of cards on Bankrate. You want a card that best fits your lifestyle. Which card will you get the most points with? If it is a card with travelers miles and you never travel, this is obviously not for you. Some cards have 2% cash back or rewards and others have 1% cash back or rewards with 5% cash back or rewards on select categories. Just find one that you can rack up points on. Now ask yourself, what can I use this money on? Some cards will earn points to get discounted or free hotel stay, a Disney one to use on all things Disney (possibly help with a vacation), and even a card that credits your amazon account.

Use on Everything That Takes a Credit Card

I try to pay for everything including bills with my rewards credit card. The only thing I cannot pay for with my card is my mortgage. Imagine the points you could get for that.

Pay Off Every Month

The most important thing to remember is, this does not work if you carry over a balance to the next month. Pay off every month.

What I Use

I like the Chase Freedom card the best. I get 5% back on select categories and 1% back on everything else. You can also earn points by shopping through their site. This works similar to Ebates. I can choose to redeem points with gift cards but I prefer cash. I just click to redeem my points and my bank account is credited with the payment. I even take it a little further and transfer to investment account(s) to make even more money. If you are interested you can get $150 if you spend $500 in 3 months — Chase Freedom.


Originally published at savemakeinvest.com on July 26, 2017.

Save Make Invest

Save the money you earn, make more cash, and invest for true passive income.

Save Make Invest

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We are all about saving hard earned money, making extra cash, and investing for true passive income. Visit savemakeinvest.com.

Save Make Invest

Save the money you earn, make more cash, and invest for true passive income.

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