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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Tommaso who wrote (63134)4/23/2006 2:07:55 PM
From: diana g  Read Replies (3) of 206121
 
<OT>CreditCard Rebates
Citi has a no annual fee, cash-back card that pays a base 1% back on every charge and then an additional 4% on particular kinds of charges (Many common retail purchases- Gas stations, grocery & drug stores). They call this the "Citi Dividend Platinum Select Card" (which is a really silly name, isn't it?) I recently looked back through my statements and calculated that I am getting about 2.4% back overall from Citi.

There is a $300 annual limit on the rebate for an account. I therefore have 3 of this type of CC account. I keep an eye on the rebate accrued on the 1st card on the monthly statement, and when it approaches $300 several months into the year, I switch to using the second card. Then, at the appropriate time, move on the the 3rd. So far I've run out of year before getting up to the limit on the 3rd card which would total $900 in rebate cash. One could get more if they spent more by simply having a 4th & 5th card account.

Of course I always pay the full amount every month and never pay a penny in interest.

The CC is safer and more convenient than paying cash. The amount spent is in effect a short-term no-interest loan from the CC bank. Readily available free internet bill-pay service makes it easy to schedule payment of the balance just before the due date. And then there's the cash rebate. What's not to like? :)

regards,
diana

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