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February 07, 2012

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One of the things that I do with my credit card, since I don't travel, is to pay lots into the credit card and use it to pay the other bills. That way, when I take the money that I'm going to be spending on the power bill and put it into the credit card, I'm paying both of them simultaneously. I'm going to take advantage of the points that I'm getting, too. Thanks for the post! :)

I know you can get some savings on gas with certain credit cards. However, the amount I can save with those cards doesn't equal the amount I can earn by using my Amex Blue Cash for gas.

I guess it somewhat of an example of how some choose frugality while others work on increasing income.

I think this is a great example of how to save/earn with credit cards. I still don't think there is an end-all answer, other than having a well rounded 'arsenal' of cards. Blue Cash Preferred for Groceries, Sapphire Preferred for Travel, Ink Bold for my tv/phone/internet monthly bills, etc.

With a well rounded lineup of cards, you'd be hard pressed to find a purchase where you won't earn more than 1% cashback (or equivalent)

I didn't get the card to save money, but I did open an AmEx last year because of the sign up bonus. However, in the mean time, we've "earned" money with it - AmEx had a few Black Friday deals where we basically got purchases we would have made anyway for free. They also seem to be working with local businesses around here, offering a statement credit when money is spent there - if it's a business we were going to visit anyway (like getting $5 back on pizza last weekend) then it's worth it to track those offers.

What about just plain saving cash. I did this by transferring balances from high interest cards to a lower or no interest card. The savings here depends on how much you transfer and the length of time it takes to pay the balance off. I was actually able to make a dent in my debt with each payment because I wasn't paying the high fees I was with some of my other cards.

@ CCC If you're having to make payments on interest on your credit card then you are not really saving money.

@Claire - I have an Amex Blue Cash. Where do you see these deals for local businesses? On the Amex website or e-mails?

I have an Amex Blue Rewards. We've turned in our rewards points a number of times over the years for gift certificates that we would use for things like furniture (Pottery Barn) or tools (Home Depot).

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