Just redeemed credit card cash back

[disneysteve]

I just ordered a check for $105 from Chase. Love those cashback rewards.

[Slug]

Absolutely.

[kork13]

For sure. I love the rewards I get from my various credit cards. Although I'm starting to develop preferences between how I get them...

My PenFed card was great, it simply auto-posted my cash-back against my card balance. They went to a points system now, so that's not a possibility, but I think that's my favorite redemption method.

I think Discover did great partnering with Amazon... You can use your Discover cash back directly on Amazon's site while checking out, and you can redeem it for ANY amount (whether $2.99 or $100) -- you're not limited by some arbitrary redemption level. To my knowledge, it's the first credit card to redeem rewards directly with an unaffiliated retail partner, and I personally really like it.

My Capital One Venture card has a similar method to PenFed, except you have to go in and select which travel expenses will be offset by your rewards. But again, once you do that, it goes straight against your card balance, and you can redeem any amount (limited, though, by how many "travel expenses" you have on your statement).

Sure, ordering a check (or preferably direct deposit) from a credit card's rewards site is just as easy, I just don't like needing to keep track of my outstanding rewards, and waiting until I reach a certain point to cash them in.

Slight diversion, and personal preferences only, but the thought came to mind when you brought up cashing in your rewards...

[Goldy]

I also just did this a couple weeks ago for a whopping $500.00. We use the american express blue card so we can get up to 6% cash back on certain things with no annual fee and since we use our cards for every single purchase it adds up pretty quick.

[disneysteve]

My PenFed card was great, it simply auto-posted my cash-back against my card balance.

ordering a check (or preferably direct deposit) from a credit card's rewards site is just as easy, I just don't like needing to keep track of my outstanding rewards, and waiting until I reach a certain point to cash them in.

I actually wouldn't want it to auto-post because this is a card I don't use regularly. I mainly use it to take advantage of the 5% cashback offers.

I agree about having a minimum to cash in. I wish they wouldn't do that but I understand that they don't want to be sending out checks for a dollar or two. I purposely didn't cash out all of my points this time, leaving enough there to meet the minimum ($20) for next time.

[disneysteve]

Just redeemed $50 more from Discover, so $155 between the two.

I also signed up for all of the April-May-June bonuses from Chase and Discover.

[dh1989]

Just got $50 from Discover. I only use that card when they offer the 5% on gas. I think it's 5% on restaurants now. It feels wrong to pull out a credit card at a restaurant, so I think I'll pass on that and stick with cash.

[kv968]

I can be so stupid at times. I have about $600 sitting in my Chase and Capital One accounts making absolutely nothing but I can't seem to pull the trigger and request a check.

I think I have it in there as a "back-up" for paying the bill some month even though I really shouldn't need it.

[disneysteve]

It feels wrong to pull out a credit card at a restaurant

Really? I can't imagine using cash. We just got home from dinner and I used my Discover card to get started on that 5% bonus. I didn't waste any time with that since to day is only the 1st.

[disneysteve]

I can be so stupid at times. I have about $600 sitting in my Chase and Capital One accounts making absolutely nothing but I can't seem to pull the trigger and request a check.

I think I have it in there as a "back-up" for paying the bill some month even though I really shouldn't need it.

Just have it credited to your account to defray your bills.

[kv968]

Just have it credited to your account to defray your bills.

I know, but I think I'm keeping in there as some sort of "emergency fund" for a bill when cash flow one month is kinda tight.

Although I'm almost tempted to just cash it out and let it all ride on black in AC

[ShawnaC123]

I like to save up my rewards and only redeem them when they're about to expire or if I really want something.


I have around $200 at Discover, $325 at Citi, and a few dollars spread around with other issuers waiting to be redeemed.

[disneysteve]

I like to save up my rewards and only redeem them when they're about to expire or if I really want something.


I have around $200 at Discover, $325 at Citi, and a few dollars spread around with other issuers waiting to be redeemed.

Why? One, you run the risk of forgetting and having them expire (happened to me with Discover once - I didn't realize they had an expiration). Two, you are giving them free use of your money with no interest. Better to have the money in your pocket than theirs.

[ShawnaC123]

Why? One, you run the risk of forgetting and having them expire (happened to me with Discover once - I didn't realize they had an expiration). Two, you are giving them free use of your money with no interest. Better to have the money in your pocket than theirs.

My Citi points don't start expiring for three years and the Discover ones don't expire. I like to save them up instead of redeeming them a little at a time because even though I'd be earning interest doesn't mean I'd actually end up saving it until I want to use it. I'd end up buying something smaller or using it for bills. This way I can decide what I really want and have all the money at once. I guess it's along the same lines as to why people get a tax refund instead of getting more money throughout the year.

[disneysteve]

My Citi points don't start expiring for three years and the Discover ones don't expire.

You might want to check on that. On my account, Discover rewards expire after 18 months of inactivity. Not a problem if you use the card regularly but just something to be aware of.