I do a mix of gaming category credit cards (e.g., 5% of x category) and opening / closing new cards to churn early spend bonuses whenever I anticipate a big expense (e.g., about to book plan tickets overseas, pay taxes, large medical bills). I made ~8% return on my spend last year on ~$35k of spend. The best part about it is that as long as the rewards are based on spend, it counts as a "rebate" so it's not taxable.
You're definitely paying for some of those rewards regardless of if you use a card or not, so I'd recommend using one. If you can get an average of 3%+ back, you're probably coming out ahead, as interchange rates are generally well below that (except on very small transactions).
You're definitely paying for some of those rewards regardless of if you use a card or not, so I'd recommend using one. If you can get an average of 3%+ back, you're probably coming out ahead, as interchange rates are generally well below that (except on very small transactions).
Statistics: Posted by Hannibal Barca — Fri Apr 26, 2024 6:34 pm — Replies 298 — Views 20353
