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How to make the most of Cash Back Credit Cards this Christmas

December 13, 2007 by Lulu in Credit Cards with 8 Comments


I wrote recently about using cash back credit cards to make money and help you to save some money too. I use my Chase Freedom Visa card in this way and I always make sure to maximize the results that I can get from using the card.

Charge everything!

I do this by firstly charging everything under the sun. If I have the money set aside for something I look to see if I can charge it and then send the money over to the credit card instead of the company.

If your cable company lets you pay your bill via credit card then you should use your cash back card and then send the amount of the cable bill over to the credit card company. It is important to make sure that you send the exact amount because it is like paying with cash in a roundabout way.

Now that Christmas is here I am sure that many of you have set aside money for Christmas shopping. All you have to do is take that money and put it on the credit card. Then you go ahead and shop like you would if you were going to write a check or pay with cash.

Record everything!

Walk around with a calculator and keep track of everything that you pick up. If you have a $100 budget then stick to it. Just because you are paying with plastic it does not mean that you can spend more than you originally planned to.

Pay off the card!

When you do all of this shopping PLEASE make sure to pay off the card. This way you will not have to deal with interest and fees eating away at your cash back reward. If you are unable to pay off the entire thing then you need to reconsider your shopping budget.

Get a 0% transfer!

If you do spend money this Christmas then I would recommend trying to get a 0% balance transfer offer in January if you do not already have a 0% card. Most credit card companies know that people will be looking for a way to ease the debt burden in January so there should be some really attractive offers then. Transferring the debt to a lower interest card should help you a little bit if you do happen to go overboard this Christmas.


8 Comments

  1. How I Saved Money on my Christmas Shopping. | How I Save Money.netDecember 14, 2007 at 12:34 pmReply

    [...] other place with my friends. I made sure to put the gift on my Chase Freedom card so that I could make the most of my cash back rewards and I have already sent the cost of the gifts over to the credit card [...]

  2. How to Solve Your Money WorriesDecember 21, 2007 at 8:07 amReply

    [...] presents How to make the most of Cash Back Credit Cards this Christmas posted at How I Save [...]

  3. InvestorBloggerDecember 23, 2007 at 1:24 amReply

    Carnival of Making Real Money #5…

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  4. Carnival of Making Real Money #6 - January 1st, 2008 | InvestorBloggerDecember 30, 2007 at 10:42 amReply

    [...] presents How to make the most of Cash Back Credit Cards this Christmas posted at How I Save Money.net in which Lulu outlines how to earn and save on your Credit Cards on [...]

  5. Everything FinanceJanuary 3, 2008 at 8:00 amReply

    2008 Carnival of Everything Finance Begins ! (# 10…

    Welcome to the January 2, 2008 edition of carnival of everything finance.

    We had over 70 really good articles submitted for this edition.
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  6. Mark @ TheLocoMonoJanuary 28, 2008 at 1:20 pmReply

    That’s the best quote I have seen yet when it comes to credit cards,

    Just because you are paying with plastic it does not mean that you can spend more than you originally planned to.

    Interesting Net Worth graph you have going on by the way.

  7. LuLuGalJanuary 28, 2008 at 3:45 pmReplyAuthor

    Hey Mark thanks for dropping by. I am glad you like the article.
    Yeah I know my Net Worth chart is a bit groovy but I have just gotten into the personal finance scene so it is taking me a while to get adjusted.

    Plus I only recently started working full time.

    I am working on it though and hope to have a smoother, upward trending graph soon. :-)

  8. coral gables homesOctober 13, 2011 at 7:54 pmReply

    Christmas is around the corner and this is a good way to spend money. From what it seems, it works like a debit card.

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