Thread: Calling all Credit Card Point Junkies

All my accounts either business or personal have rewards cards. I use all the rewards cards for regular purchases. Things I cannot put on the card like insurance or mortgage juts gets auto debited. That way I gain the maxium amount of rewards for all my spending money Free airline tickets, discounts on hotels, etc. THE ONLY TIME I USE CASH IS AT STRIP CLUBS or where they dont take CCs LOL

I am a WF customer. I always hit Credit and earn points. I usually cash in my points, literaly, I take the cash option. I for $400 cash for around 4 months of transactions, and it was a slow 4 month period.

Originally Posted by jefftomascak

We use Zevez at our dealership, we charge over $200k per month on our American Express card, paying vendors, mortgage, suppliers, etc. We were able to get the black Centurion card in less than 8 months.

Zevez: Our service and software interfaces with your accounts payable system to streamline the card payment process. Businesses pay by card to improve efficiency, receive rebates or reward points, improve cash flow 30-45 days and save on banking fees. It's a smarter way to pay business invoices.

This is exactly what I was talking about hoping to find (I hope). Google couldn't find this lol Thanks for the heads up. I'm gonna start doing some homework.

Originally Posted by BogeyBoy82

This is exactly what I was talking about hoping to find (I hope). Google couldn't find this lol Thanks for the heads up. I'm gonna start doing some homework.

read this about credit cards, it has some good info even if you are out of the books age group of 20s-30s

Ramit Sethi - i will teach you to be rich

Amazon.com: I Will Teach You To Be Rich (9780761147480): Ramit Sethi: Books

I put absolutely everything on my card, have have never paid a penny in interest in my life on it. I got points out the wazoo! I'm surprised so many business mined people don't think of this

No worries, I think we're in agreement here. Its essentially incurring the same fees and screwing over the same ppl, hence my earlier comments at avoiding CC or hitting the credit button as you pointed out. This effectively only drives up consumer prices and yields more profit in the long run for big box banks. Good for the banks, but not so good for the little guys. Simply a matter of education for the consumer to undo the millions in marketing $ spent by big business promoting CC, rewards points, and paying with a debit as a CC transaction. Sure the programs may work well for some business expenses, but its hard to generalize and say the economics of charging every expense possible to rewards cards and collecting the points is the right move. Just my 2cents...

Originally Posted by Revved

What he is referring too is the fact that many banks (WF included) offer a "points rewards" system similar to AMEX where the card holder gets reward points for purchases run through as "Credit." The way the banks offset these perks is that they are able to charge the vendor the 2-3% credit card charge instead of the miniscule amount I believe they are able to charge for debit transactions. The benefit I see for the banks is that they are generating revenue and then paying back a paltry "points" benefit by giving the customer deflated purchasing dollars to buy overpriced merchandise; so it's a no loose situation for them. The customer sees it as a "free" benefit so they think nothing of hitting that credit button and the vendor selling the original product is the one that pays the price and thus has to raise the cost of his product. Sorry- maybe I just look at it from the little guy perspective as another way small business is getting screwed by the greed of the big guys.