I have had the US Bank Cash+ card for over a year, and if I used it I would earn cash back instead of points. Thus, for the most part of 2013 it sat unused.
I began thinking that the 5% rotating categories of my choice were too much to pass. Now, I max out the quarter to manufacture spend just to use the card. Instead of earning 5% cash in lieu of points, I use the 5% category and with my latest strategy, it is reduced to a 2.5% return instead.
I’ll take it because this strategy is mutually exclusive from my normal points earning capabilities.
How many cards do you have that you do something like this?
If anyone was wondering what the scheme is: Choose your 5% category wisely (duh), find a place that will give you 5% cash back vendor, and then …… you fill in the blank!
I have the same card. But it’s too much bother to use. $2K rotating isn’t worth my time. Even using Kiva is a PITA – charity is almost always 5%, but the wait to get repaid isn’t worth it. I’d rather do lower return methods, but do them at higher velocity. The fact that Kiva is a scam is besides the point.
The only small volume card I bother with is BCP with $6K annual limit. Do that in a day and put in a drawer for a year.
What do you redeem your points for? Would you consider the US Bank Flexperks? 3x points on Charity (Kiva), and then try to redeem the points up to $.02 for ~6% back. Or is that still not enough because of Kiva still being a pain?
I like 5% back at electronic stores…$40 profit AND $40 best buy points = win in my book. 3 or 4 years from now maybe I’ll have enough points to buy something nice. The game for me is a marathon not a get rich quick scheme.
That’s a good return and approach. A lot of the smaller things we do are definitely a marathon