Quote:
Originally Posted by Run Silent
Because, in general, the standard % back on most cards doesn't really make it worth the hassle.
I don't really have any bills and most places like the utility company or water company charge a 2% convenience fee to use a CC, negating any gains. Wife and I don't really spend much money. When we do make a big purchase, like travel, we will open a card to get the 'introductory' offers and then cancel them.
The only card I actually use is my bank CC, which gives me 3% back on gas. I pay it off every Friday, lol.
That adds up to a little bit, but not much - something like $70 a year.
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Well for me, and I assume many others, I use my cards for everyday purchases like gas, groceries, dining out, and bills that don't charge additional fees for using a card. Depending on the card, I am getting between 2-5% back on those purchases which definitely adds up over time.
There are other benefits in addition to the cash back and travel points. For example, the credit card companies have been really good at handling any fraudulent purchases when things get hacked, which is inevitable these days. Other protections like insurance on rental cars and various other travel related things is useful as well.