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December 26, 2006
The Right Way to Reap Credit Card Rewards
There is a right and wrong way to do everything in life, including the use of a rewards credit card.
Here is a story about the right way to use a credit card to actually benefit from the rewards:
This story begins with waking on the day after Christmas, swearing that I would never go near a mall to face the post-Christmas sales and crowds that go along with it.
Somehow, my wife talked me into heading over to the mall to pick up some items she absolutely had to have today.
Why today! Out of all the things I never wanted to do was head off to face the bargain hunters!
OK, I went; I picked up the items she needed.
Since I managed to find parking for my vehicle I thought: What the heck, why not drop off the stuff I picked up for my wife in the truck and head back in to see if I could find a bargain myself.
After all I did manage to find parking (and parking was at a premium), I really didn’t want to give up my spot after having to hunt for 30 minutes.
So it was back into the mall and I did find a bargain on a tripod that I had been considering purchasing for quite some time. The tripod was on sale for $50, normally the price was $250. I snatched up the last one on the shelf and paid for it on my travel rewards credit card.
Happy as can be for getting such a great deal on my tripod and earning a few points towards my next trip with my credit card purchase I ventured home again.
Here is where I actually benefit from the travel rewards points:
After showing my wife my new tripod and putting away all the other stuff I bought, it was off to the computer to login to my online account and pay off the purchase immediately.
Now, the merchandise has been paid for, my credit card balance is once again at 0 and I earned points towards free travel.
Paying your rewards credit card off prior to incurring interest is the way to truly earn a benefit. If you don’t pay off your balance, the rewards could be quickly offset by the interest charges.
Start doing this yourself and you will do 2 incredibly great things for yourself:
1. You will be conscience of all credit card spending and will avoid acquiring more credit card debt than you can handle.
2. You will get free stuff from the rewards offered on your credit card account
Perform the one simple step of paying your credit card balance immediately and you are well on your way to living a more prosperous life!
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