Gas Credit Cards

Gdetrailer wrote:

I "earn" much more than $250 per yr on just 200 shares of stocks that pays a min of $.40 dividends per share per quarter.. That IS real "earnings" unlike the "cash back" credit card scam and I DIDN'T "spend" or lose money in the process.

You don't even have to buy individual stocks, there are "money markets" that also offer quarterly dividends.

CC cash back programs encourage spending, they encourage folks to pile on more on the cards than they would typically spend.. It is a "carrot" being dangled..

$250 per yr boils down to a "reward" of a measly $20 per month and to get that you will have to put $12,000-$36,000 in charges to get it depending on percentage back offered..

Granted, you could put rent, mortgage, car, electric, phone, gas and more bills on it, but now you get slapped around with a single $1,000-$3,000 CC "payment" every month.. Without ever seeing exactly what you spent and on what or knowing exactly where your money goes is a dangerous place to go..

It is too little, too late and too low of a "hanging fruit" to be of any "savings value".

You want real money, there ARE better ways to earn it that can substantially be more than any measly 1%-5% cash back CC.

I have a family member that used the zero percent "transfers" thing for many yrs, hasn't worked out well.. Can't afford to sell his home and move to a better place due to continual remortgaging to cover his bills and has more owed than the value of his home, can't afford a new vehicle, CCs are maxed out all the time, barely able to pay the min payment due so he barely gets by.

He is older than I and yet I have retired as of last yr at the ripe age of 55.. He is out of luck unless some "rich aunt" that I am not aware of dies and leaves here entire estate to him..

I guess I have done things all wrong..

CC cash backs are nothing but a toy, not worth bothering with..

You clearly do not understand the conversation or lack the self control to use a credit card as a financial tool. For someone talking big of your investing options you are willing to forgo 2-5% income on cash that will be spent regardless of payment method. Some of us take entire vacations for free based on rewards points or cash back and pay zero interest. If your total budget is a couple hundred dollars per month probably does not make a difference. But if it is several thousand that is a pretty big lost opportunity cost.

And when I spend $36k on my card it is over $1k in benefits, not $250. Not sure where you came up with that number.