Tuesday, February 5, 2013

Playing The Credit Card Game

We're ahead of the game with our Citi Forward card for 2013. this morning I received our February statement and so far this year they've only charged us $43 in interest. Most of that money was in January since we charged a lot during the holidays. This month the interest charge was only $11. This is what they had on the statement:


The good thing about using abusing the Citi Forward card is the rewards. I made another $50 in gift cards this month so I went ahead and got another $50 gift card to Best Buy. I don't really need anything from there but they're nice to have in case I want something. So far this year I'm up to $100, way ahead of the $43 they've charged me:


Here's the points summary for the year, as you can see the bonus points are what make the Citi Forward card the best rewards credit card out there (yes we charged that much in 2 months):


This is what I call playing the credit card game but you need to be really careful, right now I may be ahead but like most of you know I've been on the opposite side of the game. I remember some months paying $150 in finance charges. I don't recommend this strategy to people but if you can pay off your credit card every month, the gift cards are very nice to have.

HS

4 comments:

  1. That seems to be a very nice reward system. I do like my Chase card for its rewards, though they build up a lot slower as I charge less than $200-$300 a month in total. Even less since I'm going with all cash and only charge my gas (for 3x points). Definitely a dangerous game to play, but it can be rewarding. My only CC game right now is the one where I pay no intest at all.

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  2. That's the goal, 0 in finance charges and lots of rewards.

    HS

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  3. I love credit card reward points too! Interestingly enough, I've never bothered to compare the difference in what we pay in interest to the rewards that we earn each month/year.

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