Im sure this has been covered before, but if there are people who aren't aware of cash back cards, let me tell you how I make $1200 using citi credit cards.
Citi offers 2 cash back cards: Citi Dividend and ATT Cash Rewards. They are essentially the same card. 1% cash back on all purchases, 5% back at supermarkets, drug stores, gas stations.
Annual limit is $300 per card.
I use my dividend card the 1st 3 months of the year, maxing out the rewards. I then switch to using my ATT card for the next 3 months, doing the same thing. After both are maxed out, I switch to using my gfs cards and she also has the dividend and att cards.
Now, I do not actually spend enough money to max out the rewards.
Here are my secrets:
Most of the time, the retention dept has additional cash back offers if you try to close the account. Most of the time the ATT cards get 5% on all purchases for 6 months or etc. My dividend card has had 10% on the EDS and 5% on all other purchases.
Also, when you are near your $300 limit, you can go buy a big ticket item, claim the rewards, return the item. They're not going to ask for their check back and when the next year rolls around, youre back at 0, ready for another $300.
One of the places to use to max your card out is a Walmart Supercenter. No matter what you buy at that store, Citi treats it as a supermarket and gives you 5% back. You can go buy a plasma or a 3, max out your rewards, get a $300 check, return the plasmas, and not use the card till the following year. Etc, etc.
Im trying to find other stores that I can use in this instance as well.
Citi IMO has the best cash back cards on the market, especially if you know how to use them.
However, I would love to hear others stories on how you're making money using your credit cards.
If anyone has any questions, feel free to ask!
Full Version: Using credit cards and getting money.
QUOTE(Storme @ Mar 2 2005, 03:32 PM)
Here are my secrets:
Most of the time, the retention dept has additional cash back offers if you try to close the account. Most of the time the ATT cards get 5% on all purchases for 6 months or etc. My dividend card has had 10% on the EDS and 5% on all other purchases.
Also, when you are near your $300 limit, you can go buy a big ticket item, claim the rewards, return the item. They're not going to ask for their check back and when the next year rolls around, youre back at 0, ready for another $300.
One of the places to use to max your card out is a Walmart Supercenter. No matter what you buy at that store, Citi treats it as a supermarket and gives you 5% back. You can go buy a plasma or a 3, max out your rewards, get a $300 check, return the plasmas, and not use the card till the following year. Etc, etc.
If anyone has any questions, feel free to ask!
Most of the time, the retention dept has additional cash back offers if you try to close the account. Most of the time the ATT cards get 5% on all purchases for 6 months or etc. My dividend card has had 10% on the EDS and 5% on all other purchases.
Also, when you are near your $300 limit, you can go buy a big ticket item, claim the rewards, return the item. They're not going to ask for their check back and when the next year rolls around, youre back at 0, ready for another $300.
One of the places to use to max your card out is a Walmart Supercenter. No matter what you buy at that store, Citi treats it as a supermarket and gives you 5% back. You can go buy a plasma or a 3, max out your rewards, get a $300 check, return the plasmas, and not use the card till the following year. Etc, etc.
If anyone has any questions, feel free to ask!
So you figured out how to beat the credit card companies at their own game. Good for you!! Some of your tips are legitimate. Others (like the ones listed above) border on fraudulent. I wouldn't be too terribly proud of those tips if I were you.
Michael
QUOTE(Hwkdrvr @ Mar 8 2005, 10:45 AM)
QUOTE(Storme @ Mar 2 2005, 03:32 PM)
Here are my secrets:
Most of the time, the retention dept has additional cash back offers if you try to close the account. Most of the time the ATT cards get 5% on all purchases for 6 months or etc. My dividend card has had 10% on the EDS and 5% on all other purchases.
Also, when you are near your $300 limit, you can go buy a big ticket item, claim the rewards, return the item. They're not going to ask for their check back and when the next year rolls around, youre back at 0, ready for another $300.
One of the places to use to max your card out is a Walmart Supercenter. No matter what you buy at that store, Citi treats it as a supermarket and gives you 5% back. You can go buy a plasma or a 3, max out your rewards, get a $300 check, return the plasmas, and not use the card till the following year. Etc, etc.
If anyone has any questions, feel free to ask!
So you figured out how to beat the credit card companies at their own game. Good for you!! Some of your tips are legitimate. Others (like the ones listed above) border on fraudulent. I wouldn't be too terribly proud of those tips if I were you.
Michael
Care to explain how this borders on fraud? All he is doing is making a purchase and returning according to the retailer's guidlines. It's not his fault that the Credit Card company "chooses" not to reverse the dividend rewards from a credit back to his account.
Kinda sounds like the scam that took place in South Florida after one of the Hurricanes went through. Short and simple: that part of Florida (Miami) was included in the disaster area. The hurricane hadn't caused any damage on that coast. Everything had taken place on the west coast ; not the east. Well, since FEMA was reimbursing for purchases made in a disaster area, you better believe that a lot of folks were buying crap and making claims. None of them were denied because they were in a legitimate disaster area.
It doesn't take a genius to figure out that all those folks were stealing from the US Government under the publised guidelines. It doesn't take a genius to figure out that the above individual is stealing three hundred dollars from Citi under their published guidelines.
Hey everybody, the soda machine in the student break room is giving away free sodas!!!!
That machine will give away "free sodas" until the owner figures out that it is broken and fixes it. In the meantime, everyone who rushed down there and got their "free" soda is a thief.
Have a good day!!
Michael
It doesn't take a genius to figure out that all those folks were stealing from the US Government under the publised guidelines. It doesn't take a genius to figure out that the above individual is stealing three hundred dollars from Citi under their published guidelines.
Hey everybody, the soda machine in the student break room is giving away free sodas!!!!
That machine will give away "free sodas" until the owner figures out that it is broken and fixes it. In the meantime, everyone who rushed down there and got their "free" soda is a thief.
Have a good day!!
Michael
If you think it is fraud, I obviously can't do anything to change your opinion.
Like the above poster said, I'm not doing anything outside of my terms and conditions of my credit card agreement.
While the option is still available to me to max out my dividend dollars, I will use it to my full advantage.
I call it smart money management and investing.
Not all strategies are for everyone, if you have some moral issues about using that particular strategy, just make your normal purchases totaling $15-30000 a year and you'll get your $300 just the same.
I just prefer to accelerate my rewards.
Like the above poster said, I'm not doing anything outside of my terms and conditions of my credit card agreement.
While the option is still available to me to max out my dividend dollars, I will use it to my full advantage.
I call it smart money management and investing.
Not all strategies are for everyone, if you have some moral issues about using that particular strategy, just make your normal purchases totaling $15-30000 a year and you'll get your $300 just the same.
I just prefer to accelerate my rewards.
QUOTE(Storme @ Mar 8 2005, 09:22 AM)
If you think it is fraud, I obviously can't do anything to change your opinion.
Like the above poster said, I'm not doing anything outside of my terms and conditions of my credit card agreement.
While the option is still available to me to max out my dividend dollars, I will use it to my full advantage.
I call it smart money management and investing.
Not all strategies are for everyone, if you have some moral issues about using that particular strategy, just make your normal purchases totaling $15-30000 a year and you'll get your $300 just the same.
I just prefer to accelerate my rewards.
Like the above poster said, I'm not doing anything outside of my terms and conditions of my credit card agreement.
While the option is still available to me to max out my dividend dollars, I will use it to my full advantage.
I call it smart money management and investing.
Not all strategies are for everyone, if you have some moral issues about using that particular strategy, just make your normal purchases totaling $15-30000 a year and you'll get your $300 just the same.
I just prefer to accelerate my rewards.
While it may or may not be fraud, it is certainly immoral and unethical and this board doesn't condone that kind of nonsense. The OP can do as he/she sees fit, but I definitely wouldn't do it nor promote it.
Nodding with LKH, and adding my .02
Eventually the retailers will catch up to you... they've begun instituting methods to curb this type of behavior
http://www.detnews.com/2005/business/0502/03/C01-78357.htm
http://www.eweek.com/article2/0,1759,1743671,00.asp
http://www.washingtonpost.com/ac2/wp-dyn/A30908-2004Nov6
Maybe it's not outside the terms of your CC agreement, but it will ultimately land you on blacklists with retailers.
Eventually the retailers will catch up to you... they've begun instituting methods to curb this type of behavior
http://www.detnews.com/2005/business/0502/03/C01-78357.htm
http://www.eweek.com/article2/0,1759,1743671,00.asp
http://www.washingtonpost.com/ac2/wp-dyn/A30908-2004Nov6
Maybe it's not outside the terms of your CC agreement, but it will ultimately land you on blacklists with retailers.
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