Saturday, May 26, 2007

rewards cards

i carry a few credit cards, but my primary one is an amex cash rebate card. with it, i get a graduated cash back reward that goes from 0.25% to 1.5% (when i spend more than $5,000 in a year). i am thinking about switching over to the amex blue cash card. it pays 0.5% to 1% until you spend $6,500 in a year and then it bumps that up to 1.5%. then it bumps the reward to 5% on purchases at gas stations, drugstores, and supermarkets. it's got no annual fee and a 0% APR for the first 15 months.

sounds like a decent way to 'save' some money on money that i'm going to be spending anyway.

3 comments:

I am a pharmacist said...

I have been using the Amex Costco card. It has a tiered system of 1% retail/Costco purchases, 2% for travel purchases and 3% for dining establishments. There is no annual fee and no cap on the reward.
The key of course is to pay your bill in full each month or your rebate is just being paid by your interest payments.

aggressive saver said...

i considered that card, too. we spend a good deal on travel and dining, so that one would make sense. i guess in the end, the difference between 1 and 2% of our annual spending doesn't amount to that much really.

CreditOwner said...

Yeah, your new credi card sounds like a good deal, especially with all the savings on gas, cloths and groceries. Good luck in saving money!