Tuesday, May 7, 2013

May 2013 Citi Statement

Our Citi Forward statement for May has arrived. As usual and like I mentioned on the previous post, we are spending way more than we are paying back. As you can see below, the balance right now is almost $1,800 but I was able to send back $2,000. That sounds great if only we didn't have that previous balance. If we look at the purchases you can see an extra $667 dollars and that's where the problem is:


The bulk of this spending includes groceries, gas, entertainment, eating out and just about anything else that can be purchased with a credit card. If wife needs something for school or wants to get her hair done, it goes on the credit card. If I need something for one of my many hobbies, that purchase goes on the credit card. We do make a weekly trip to the ATM to keep some cash on hand but don't ask me where that money goes.

Looking at the interest, we are still way ahead for 2013. We get our money back from them using their own Thank You network. Just last month we redeemed $97.99 from our rewards account to spend on Amazon and this month I already redeemed more money from them (see the purchase below). Here's what they've charged us so far for 2013:


In one month and with all of our purchases we were able to get 4,874 points. As I've mentioned before, it is the bonus points that quickly add up on this card. I have no idea why I still get 100 Cardmember points as a bonus but I'll take it. Here's what we earned for last month:


As soon as these points hit my account I went ahead and spent them! We purchased one car seat last month but now we needed one for the SUV. The spouse liked the Graco seat I got for my car but of course she had to get something more fancy. She ended up getting a Diono RadianRXT Convertible Car Seat and with the points above I was able to get $39 off at Amazon. You know me and I always keep gift cards stashed away so that took off another $200 form the purchase. The total out of pocket was only $18.39:


That is all for now... remind me to try to spend less money but at least the rewards make it nice to charge stuff :)

HS

5 comments:

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  2. Hey you, Jon and I got our first line of credit from citi. We havent spent anything on it yet, but our plan is to use it for date night once a month and pay it off in full every month to build our credit. We want to buy a house. So we will see how it goes.

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  3. Hey Rhi, Careful with credit LOL on the house... yea did you know that houses in Houston are selling overnight and there's no supply?!

    HS

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  4. Have you thought about looking at your credit card history to see how much your spending on Gas/Groceries/Entertainment/Hair/Clothes ect. and then comparing that to what you can afford? Then - creating a joint chequing account, rather then credit, that gets 'paid' from your main account every Friday (or however often you want) - you both have debit cards and access but when the money runs out, it runs out and you can't go into debt.

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  5. HS,
    Email me a better explaination of what you are saying about the houses. Being that we are new to this, I'll take all the advice I can get.

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