Quote:
Originally Posted by billethkid
We use a credit card for almost 100% of all our monthly purchasing/living expenses.
We use Citi Banks Double cash rewards card.
One percent credit for evey dollar spent. Then one more percent when it is paid off. As we never carry a balance and pay it off in full each month there is an effect of 2 percent credit per month. And unlike most other reward cards there is no limit to the accumulated credits. Which can be redeemed for cash or merchandise or other stuff.
Depending on one's monthly living expenses there is a fair amount of cash back at the end of each year. One does not spend any more than if they were paying cash for everything.
There are many other benefits like charging travel, extended warraties on merchandise paid for with the card.
I believe in the old saying pennies make dollars. And in this case dollars make more dollars.
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Have been using a credit card to pay for most things for the past 23 yrs. Get cash back and it is always wise to use someone else's money! But, you must be disciplined to pay off the full balance every month, we have the payment made from our checking acct that way we are never late!