Maximizing Cash Back
Many credit cards offer cash back awards (or other awards) just for using the cards.
You should familiarize yourself with each card’s bonus cash back, and try and use the card that pays you the most back (yes, consider the closing date and how long you will get the use of the credit card company’s money as well, but at the moment you can’t really get much interest back on your money, so the only real concern there should be cash flow).
Many credit card companies also offer bonus points if you use the shopping links on their web site (generally you have to sign into their online account management, and often you have to explicitly register you card).
Some credit card companies require you to always launch the shopping experience through their web site, others will recognize the merchant once you’ve registered the card — and may of those will also pay you bonus cash back at brick-and-mortar stores once you’ve registered your card.
The bottom line is, you have to read and understand each card’s reward program, and you have to be diligent in exercising the program.
So how much cash back did I get last year? $1981 — and no, most of that was not at 1% back; over half of it was at 3% and much of it was at 4% and 5%, and a little was at 10%! And the really great part of it was, a lot of that was from paying cell phone bills, telephone bills, gasoline, groceries (all at least 3%)… or money I would have spent regardless. The fact that much of my discretionary spending was done at places offering great prices and bonus cash back just sweetens the pie!
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