Credit Card Rewards Rip-Offs
I enjoyed this article on CNN money covering how credit card rewards aren’t always so rewarding. It also gives some tips on how to use rewards cards to really benefit.
While this list is a nice overview, I really enjoy reading about how Free Money Finance uses his cash-back reward cards to earn money for spending money he would have spent anyway.
As the Money article mentions, be careful with these techniques. If you have the discipline, then go for it but as the article states some are tempted to charge more just to earn rewards. Be disciplined!
We haven’t tried these techniques much. We do have a GM rewards card that will likely never get redeemed since I don’t think we’ll be buying any more brand new cards. We’re just starting to get our finances in order and gaining the discipline to spend only what we have. Once I feel more confident that we can do this consistently, we’ll start to move to cash-back rewards cards. It’s hard to turn down free money!
