American Express Blue Cash Back Again
Remember, last year, when I received a $194 cash back in 2008 from my American Express Blue Cash card? On annual spending of $13,042, I averaged 1.48% in rewards. I’d never had a reward card before, I was pretty stoked about the extra money.
I'm less in love with my American Express Blue Cash card this year. I got $186 on $12,913, averaging 1.44% cash back. Note: My annual spending includes some expenses which were reimbursed, like a $488 airline ticket and $500 for my parents' television. Kudos to me for spending less this year!
Reward cards can be tricky because they entice you to spend, but I'm always careful. I use the card for almost every expense including all my bills (except rent), and pay it off entirely every month. The drawback of AmEx Blue Cash is that you get only 1% on the first $6,500 you spend in the year. After that, you get 5% on drugstore and grocery purchases only, and 1.25% on everything else (down from 1.5% last year).
As we speak, I'm in the process of switching to the Charles Schwab 2% Cash Back credit card, which will give me 2% cash back on EVERYTHING. Schwab pays the rewards monthly, and you can withdraw them in cash. If I'd had it this year, I would've gotten $258.
Sorry, AmEx. We had a good run, but you're just not competitive anymore.
I'm less in love with my American Express Blue Cash card this year. I got $186 on $12,913, averaging 1.44% cash back. Note: My annual spending includes some expenses which were reimbursed, like a $488 airline ticket and $500 for my parents' television. Kudos to me for spending less this year!
Reward cards can be tricky because they entice you to spend, but I'm always careful. I use the card for almost every expense including all my bills (except rent), and pay it off entirely every month. The drawback of AmEx Blue Cash is that you get only 1% on the first $6,500 you spend in the year. After that, you get 5% on drugstore and grocery purchases only, and 1.25% on everything else (down from 1.5% last year).
As we speak, I'm in the process of switching to the Charles Schwab 2% Cash Back credit card, which will give me 2% cash back on EVERYTHING. Schwab pays the rewards monthly, and you can withdraw them in cash. If I'd had it this year, I would've gotten $258.
Sorry, AmEx. We had a good run, but you're just not competitive anymore.
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10/28/2010 10:33 AM
CHICAGOCHEAPSITE.COM wrote:
Hey! Chicago: cheap! passed its second anniversary, and I didn't even notice! Like we did last year, let's review this year's tips for saving money. Seek out cheap rent. My rent is high for a studio because I have a certain expectations: good condition apartment, building amenities, location... but it's still cheaper than a one-bedroom in similar condition and location. After being offered a rent freeze, and unwilling to compromise for a lower quality apartment, I decided to stay another year. See other tips on getting the most bang for ...
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