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How I use credit cards:
Amex blue cash: 3% on groceries, 2% on gas
Discover IT: Revolving 5% categories, adjust as needed to match
Chase Freedom: 3% restaurants, 1.5% standard (use for all purchases that don’t fall in above cards).
Pay off statement balance monthly.
Amex blue cash: 3% on groceries, 2% on gas Discover IT: Revolving 5% categories, adjust as needed to match Chase Freedom: 3% restaurants, 1.5% standard (use for all purchases that don’t fall in above cards).Pay off statement balance monthly.
In general ive come to prefer cards:
With $0 annual fee
That match my larger spending habits (like gas and restaurants)
If you track spending, you can do the math to decide if a card is worth it in the long run vs your current set up.
Plus some great sign up bonuses!
With $0 annual fee That match my larger spending habits (like gas and restaurants)If you track spending, you can do the math to decide if a card is worth it in the long run vs your current set up.
Plus some great sign up bonuses!
This means I never pay interest (by paying statement balance), and get to enjoy the cash back.
Then use your cash back to pay for your statement or deposit to your bank.
@outwrklifestyle points out means your new purchases will also generate cash back vs getting gift cards.
Then use your cash back to pay for your statement or deposit to your bank.
@outwrklifestyle points out means your new purchases will also generate cash back vs getting gift cards.
In general (not tax advice for your situation) credit card rewards are treated like a rebate, so they are not considered income.
This is good, because you’re sorta generating income through normal spending activity without tax burden.
Do NOT spend extra just for rewards.
This is good, because you’re sorta generating income through normal spending activity without tax burden.
Do NOT spend extra just for rewards.
One card I’m considering:
Amazon: Gives 5% cash back on Amazon purchases, which we all are making more of these days.
Again, maximize spending categories that are frequent.
More credit cards vs credit used will mean your credit utilization will be lower (good for score)
Amazon: Gives 5% cash back on Amazon purchases, which we all are making more of these days. Again, maximize spending categories that are frequent.
More credit cards vs credit used will mean your credit utilization will be lower (good for score)
I ONLY recommend using a credit card if you’ve built discipline with a budget/spending
You can use credit cards to your advantage, earn extra
, AND not wind up paying more in fees like the average card user
And unlike cash, if you lose it or it’s stolen — it gets replaced!
You can use credit cards to your advantage, earn extra
, AND not wind up paying more in fees like the average card userAnd unlike cash, if you lose it or it’s stolen — it gets replaced!
