Playing the Frugal Game Is Fun!

[Walt34]

I think there's a better way to do this than to control your spending, and that is to control your desires.

That is the key, and why so many will never be able to retire and will only stop working when health issues force them to.

 

[Alex in Virginia]

I forgot to mention cash back cards!

(Hello, All... Please consider this an add-on to my original post.)


Just a couple of months ago, I found another fun way to play the Frugal Game: cash back credit cards! The idea of getting another 3% (sometimes even 5%) off on groceries and on gasoline is a big winner, I think. So now I only carry cash-back credit cards in my wallet.

Used to be I always paid for my groceries with my debit card. Charging groceries just struck me as really, really lame. Not anymore, though. My poor debit card is gathering dust in my wallet. If I can get another 3% off on groceries on top of whatever discounts and coupon savings I've been able to score... bring it on! (Just pay off the balance monthly, that's all.)

As so happens, I've actually had at least 2 cash-back credit cards for years. I just never paid attention to that feature. So my cash back points had been accumulating unintentionally for who knows how long (because apparently they don't expire). With those past accruals to give me a jump start, I just reached the minimum redemption level on my Bank of America and Discover cards. And I got an extra "chaching!" when I did my redemptions!

I found out that the Bank of America card will add an extra 10% to my redemption amount if I process that redemption as a deposit to my BofA checking account. So... why not! Chaching!

Then I found that my Discover Card would jack up my redemption amount BY 25 PERCENT if I took it as a Bed, Bath & Beyond gift card. Hey! That's where I go to buy my Keurig single-serving coffee thingies (and always using a hefty discount coupon). So... of course! I took that redemption deal and now, the next time I go to get coffee supplies at BB&BY I'll be getting even more of the stuff and it will be for free. Chaching! Chaching!

What about you? Have you got any nifty cash-back credit card stories to share?

Alex in Virginia

 

[pb4uski]

I have had cash back credit cards in the past and they are ok. As I once found out the problem with some of Discover's offerings (and I imagine other offerings as well) is that they are limited. I once bought a few thousand worth of kitchen appliances using Discover during a time period that they offered 5% cash back on home improvement items, only to find out that the high cash back rate was limited to a small amount of purchases since I failed to read the fine print.

(What I did make out on though is that Discover doubled the time for the manufacturer's warranty which save me over $600 in repairs on those appliances).

I find the 2 miles/points for each $1 spent cards to be much more convenient. We use Escape by Discover (unfortunately no longer available, but grandfathered) but there are other similar deals still available from what I have read. Since we travel enough to fully use the credits, we end up getting 2% back on everything we charge and most of our spending is put on that card which is paid off every month.

While I could finagle the various cash back deals and probably do better, to be candid, I have better ways to spend my time.

 

[Mulligan]

I have had cash back credit cards in the past and they are ok. As I once found out the problem with some of Discover's offerings (and I imagine other offerings as well) is that they are limited. I once bought a few thousand worth of kitchen appliances using Discover during a time period that they offered 5% cash back on home improvement items, only to find out that the high cash back rate was limited to a small amount of purchases since I failed to read the fine print.

(What I did make out on though is that Discover doubled the time for the manufacturer's warranty which save me over $600 in repairs on those appliances).

I find the 2 miles/points for each $1 spent cards to be much more convenient. We use Escape by Discover (unfortunately no longer available, but grandfathered) but there are other similar deals still available from what I have read. Since we travel enough to fully use the credits, we end up getting 2% back on everything we charge and most of our spending is put on that card which is paid off every month.

While I could finagle the various cash back deals and probably do better, to be candid, I have better ways to spend my time.

I am like you, PB, I will use them as often as possible, but do not go reaching for the last buck. There are some real fanatics and I admire them for it. For example, a 5% cash back card with a $1500 offering for a typical 3 month buying window. Say it is at Walgreens for that three months. People who do not normally buy anything at Walgreens will then go in and buy $1500 worth of various gift cards and then spend them elsewhere to capture their 5%.