Using Cash Reward Credit Cards for Survival & Profit

 

Introduction

I’ve talked a lot about using cash reward credit cards, lately. It actually feels like I am living in a credit card world. In fact, this for two reasons. One is because I have wanted to learn everything I could about cash reward credit cards, credit scores and credit reports, too. The other reason, probably the most important one, is that cash reward credit cards have become one of my most essential survival tools.

cash reward credit cards
Alison D. Gilbert, The Credit Card Maven
The Credit Card Maven

As a result of my intense interest and need to know everything I can about credit cards, I’ve even created a Facebook page called The Credit Card Maven. This is where I post information as I have researched and sourced it. I have found a number of websites, blog posts, Facebook pages (listed here) and groups that are extremely helpful resources in my quest for knowledge as The Credit Card Maven in my credit card world. Included are:
Credit Card Mastery
Credit Karma
CreditCards.com
NerdWallet
Wallet Hacks
Wise Bread
 

cash reward credit cards
Viper Tool Storage Box Survival Toolkit as part of My Credit Card World
Credit Cards as a Survival Tool

As I mentioned at the start of this post, credit cards have become a survival tool in my credit cards world. It was not by design that this came to be.

It was more a matter of circumstances. Once I got a feel for how useful and profitable using credit cards could be, my desire to use them and master it increased. Let me give you an example.

I have had cash reward credit cards for a number of years. I can accumulate up to about $40. in a two month period from one of them. That was a good beginning. Then I decided to get a travel rewards card in anticipation of someday going to visit my family in Colorado. I used it and kept on accumulating points.

Credit Card Currency

When I went to check on the conversion to paying for an airplane ticket, the results were not impressive. I had to find something better. This time by design, I set out to find the best deal I could for air travel benefits using a credit card. I found one that I ultimately used for my flight. It rewarded me with 30,000 points and a $100. discount on my airplane ticket. This was such a great deal that I have enough points to return to Colorado for free, right now.

cash reward credit cards
Credit cards currency from 123RF.com
Now that’s what I call using credit cards as currency. If I could do that with a travel rewards credit card, I wondered what other benefits and rewards I could manifest in my credit cards world. I familiarized myself with a few other travel rewards cards as part of getting a second ticket for my husband and having funds for other things related to our vacation. All in all, my activities resulted in a savings of between $400 and $500 for our trip.

 

 

Credit Card Investing

Let me present one more situation where the skilled use of a credit card became very profitable. I found an offer for a cash rewards credit card that would refund $100 on spending $500 within 90 days of acquiring the card. That would be a 20% profit. I had never accomplished that in the stock market. It seemed like a very good investment to me. I wasn’t sure if I would be granted another card as I had accumulated quite a few by this point. But it came through. I fulfilled the requirements. Now I am just waiting for my investment to pay off.

cash reward credit cards
Credit Card Monthly Rotation represented by a photo from blog.taxact.com
Credit Card Monthly Rotation

I made another discovery. It may seem a bit confusing. In fact, I am kind of surprised that I am even able to do this. I am calling it credit card monthly rotation. It is based upon a combination of the nature of credit cards themselves and good credit card hygiene.

Each credit card has a closing date and a payment due date. Since I have several cash reward credit cards and they have different closing and payment dates, I can stagger them and not have to pay them at the same time. If I make my purchases and schedule my payments using my monthly rotation system, I have a revolving credit situation. In other words, if my budget in a particular month needs to be exceeded, I can use a card that has a closing date that will allow payment the following month. I just have to make sure the funds will be available then. I also have to have a very good bookkeeping system to keep track of every detail of every card.
 

cash reward credit cards
Brian Cain’s Credit Card Mastery Course
Credit Card Mastery

What is credit card mastery? Have I achieved it? It turns out that this term exists. I did not invent it as I thought I had. There is actually a course called Credit Card Mastery that costs $97. Much of it seems similar to my own system. Although I have not taken that course, it looks very comprehensive. This is an introduction to the course and an explanation of it by founder, Brian Cain.

Based upon my understanding and goals to achieve Credit Card Mastery, I believe that I am on my way but I have not achieved mastery yet. When will I achieve it? There are several requirements that I have established for myself:
• My credit scores average will be over 800 again. It is only about 10-20 points from that now.
• My monthly rotation system will have proven itself to work and I will have a sense of mastery in my credit card world
• My Credit Card Management Chart will be complete and committed to memory. As a result, I will have a firm grasp on all my cards and a natural flow for their use in rotation as needed.

Conclusion

To many people, understanding credit scores and reading credit reports are overwhelming and confusing. There is no need to not have transparency and clarity about your credit cards world. Credit cards are an important tool and can even be crucial for personal survival and business development. Study the resources provided. Take the Credit Card Mastery Course if you can. Having one’s finances in order and being able to live solvently in a credit card world are not luxuries. They are necessities and everyone deserves to have them.

cash reward credit cards
The Cool Piggy Bank property of The WalletHacks.com and the cover image of their facebook page
Sources & Resources

CreditCardMastery.com, a course developed by Brian Cain
CreditCards.com, find a credit card that’s right for you
CreditKarma.com, free credit scores and more
NerdWallet.com, Best Credit Cards of 2017
NextAdvisor.com, all about finances
WalletHacks.com, founded by Jim Wang
WiseBread.com, great blog post advice about credit cards and everyday frugal living

FICO SCORE AND CREDIT REPORTING AGENCIES
Equifax
Experian
Transunion
Identity Guard

Continue Reading

Using Credit Cards for Survival and Profit

 

financial survival tools
My two published eBook on Amazon.com

My second eBook, USING CREDIT CARDS for Survival & Profit is now available on Amazon along with my first, The Poor Middle Class Crisis. The second eBook temporarily is available in the older version entitled, Mastering Credit Cards for Survival & Profit.

Introduction

I am The Credit Card Maven. I have learned ways to use credit cards for survival and profit. This post is designed to share these techniques with my friends and followers.

I started using charge cards many years ago. I never abused them. The bills were always paid on time. But they were not credit cards. They were charge cards for department stores. At one point, I decided to eliminate most of them.
 

credit card maven

The Credit Score Scale from Shutter Stock®
Credit Cards Replace Charge Cards

My FICO score has always been in the excellent range. In spite of that, I had no idea how FICO scores worked. It was just one of those mysteries of life. I continued to carry a limited number of cards as well as having a credit score of over 800. When our financial situation changed in 2008, credit cards took on a totally new meaning for us.

Credit Cards Become Currency

Due to circumstances which I detail in my first eBook, The Poor Middle Class Crisis Introduction, our financial profile changed drastically. Our equity was gone as well as our income. We no longer had savings. Suddenly credit cards became a way to earn money and derive other benefits from them, as well.

The biggest incentive to use credit cards as currency was our need to take a trip to Colorado to visit our families. Because of that, I signed up for a total of four travel rewards cards. One of them was the airline travel rewards card. I signed up during a promotion. If I spent $1,000 in three months using this card, I would get 30,000 bonus points and $100. off the airfare. I have earned enough points for a free trip to Colorado and back, again. Hopefully it won’t take six years to see our families again.

credit card maven
The Gold Delta SkyMiles® Credit Card Offer from Creditcards.offers.com
Mastering Credit Card Use

As you can imagine, using so many cards can become very confusing. I am still perfecting my system. But I can tell you what I have learned so far. We are fortunate enough to have excellent credit. So we were easily able to secure all the cards we wanted. If you don’t have great credit, do everything you can to improve it. There is a link to an article from NextAdvisor.com in the Sources and Resources section about paying down if not getting out of debt. Do read it.

Treasure An Excellent FICO Score

For the person with excellent credit, you want to keep it. Great credit is precious. Here are some golden rules on how to train yourself to use your credit cards wisely.
• Sign up for cards that best meet you needs and spending habits. There are websites that show you which to use.
• Always pay bills in full and on time.
• Make a chart of closing and payment due dates for all your cards.
• Keep an accounting of how much you spend each month so that you do not exceed your budget.
• Use no more than 30% of the credit limit you have on each card.
• It is better to charge larger amounts on a few cards than to charge small amounts on many cards.
• For cash rewards cards, write on the card itself the cash back % you get on each category of purchases.
• Do not close old credit card accounts. It is best to have as long a credit history as possible.
• Avoid fee based cards unless the benefits greatly outweigh the out-of-pocket expense.

Credit Card Myths and Tips
credit card maven
‘Treat Your Cards Like Your Best Friends’. Man Holding A Credit Card from 123RF.com

Myths about credit cards abound. So here are some tips to dispel them.
• A credit score will not necessarily be lowered by having numerous cards. But don’t sign up for too many too close together. That can appear to the credit card score companies like you are in crisis.
• Almost every credit card company has a ‘Check Your FICO score’ feature. You can use it without negatively impacting your score. This is a ‘soft’ check.
• A ‘hard’ check can negatively impact your score. That could be checking by a loan company, a future employer,etc.

 

Conclusion

There is so much more that can and will be said about credit cards, their use and mastery in future posts. Credit cards can be like a loaded gun. They can be dangerous, even deadly if you do not know how to use it. On the other hand, they can be a lifesaver when properly trained.

Sources and Resources

0% Interest Card Offerings Now, from NextAdvisor

Getting the Right Card for Your Balance Transfer
Credit Cards Dos and Don’ts

The Ten Best Cash Rewards Cards from CreditKarma.com

How To Pick The Best Credit Card for You from NerdWallet.com

Find The Best Credit Card Offers for You

5 Money Problems You Can Solve With A Good Attitude

There are so many invaluable posts on the WalletHacks.com site, I am linking to their archive

Using Credit Cards from The Alison D. Gilbert Blog

Continue Reading

A Savvy Savings Shopper

 

savvy savings shopper
A Savvy Savings Shopper Award adapted from a Pinterest image

Introduction

I am a Savvy Savings Shopper. Why do I call myself that? It is because I have had to learn, adopt and develop as many money saving, frugal habits and techniques as possible so that I could survive.

It has taken time, energy, research as well as trial and error to learn what to do and how to do it so I could be considered a savvy savings shopper. Consequently, the things that work have helped me to go from being One Day From Homeless, to a Senior Suburban Survivalist and now to A Savvy Savings Shopper.

Therefore the purpose of this blog post, A Savvy Savings Shopper, is to review some of these techniques, tools and tips I have learned. I wish to share what has worked for me with other people who need and want to survive, too. In addition, recognition goes to others who have accomplished a similar feat and to recognize them with The Savvy Savings Shopper Award.

 

ASKING FOR HELP

Back in 2008 when the stock market crashed and my husband was laid off from his job, all within one week, I realized we were going to need help. It really sank in when we had to use his pension and lose my savings just to survive. We needed help. As a result, I had to swallow my pride then learn to ask for help.

GETTING HELP

We researched and applied for whatever social services we could qualify for. We sought help from our local senior center. We got food stamps which were very helpful initially. This was because the amount we got is based upon a peculiar formula reflecting past income and medical expenses. But as time went on, our income was reduced to unemployment and there was less money for medical expenses. As a result, our monthly food stamp allotment diminished substantially.

APPLYING AND QUALIFYING FOR GOVERNMENT ASSISTED LIVING

Consequently, we had to continue to seek out other opportunities for assistance. Fortunately we did find subsidized, senior housing where we continue to live today. Refer to another blog post I wrote about affordable housing.
savvy savings shopper
 

GOING TO FOOD PANTRIES FOR FOOD

Since we had such limited income and minimal food stamps, we had to find other sources for food. There are food pantries in just about every town where we live. Most are open once a month and some are weekly. We have found the ones that work best for us. But even then, there is still a shortage of fresh produce and meat.
 

GOING TO FOOD PANTRIES FOR CLOTHES

Some food pantries also have clothes that have been donated. Depending upon the source and the community, the clothes can be very good quality. Since I cannot afford to even go to thrift stores any more, these ‘Lord’s Taylors’, as my husband calls them, are a tremendous help.
 

COUPON WEBSITES

Some websites are specifically for coupons for food, household and all kinds of item. One of them is coupons.com.

savvy savings shopper
A sample of the coupons that can be printed and downloaded from coupons.com

 

SHOPPING THROUGH CASHBACK WEBSITES
Both BeFrugal.com and ebates.com are cash back websites.
Savvy Savings Shopper
BeFrugal.com is a Cashback website

savvy savings shopper
ebates.com is a cashback website.

 

SHOPPING WHERE I GET SENIOR DISCOUNTS

AARP.COM is a great source for senior discounts. In addition, there are restaurants and stores that give discounts to seniors. But don’t wait for them to tell you. ASK rather than wait for them to let you know!

savvy savings shopper
The AARP website is a great source of senior discounts and offers
Some supermarkets give everyday discounts to seniors, like Wild By Nature. Others have senior discounts one day of the week, like Gala Fresh and Compare. Riteaid gives seniors a discount on the first Wednesday of the month.

SHOPPING AT DISCOUNT STORES

There are all kinds of discount stores from cheap dollar stores to high end ones. My favorite is HomeGoods. In fact, if you use their credit card for purchases, you earn points and get a $10 store coupon for each 1000 points earned.

savvy savings shopper
HomeGoods is my favorite discount store that carries designer items from food to furniture

savvy savings shopper
I am a CVS Supersaver in the top 4% of their stores in New York.
SHOPPING WHERE I GET GREAT SAVINGS

CVS Pharmacy, their official name, carries much more than prescriptions. I buy all kinds of household items there. Because they regularly offer discount coupons, I regularly shop at their stores. In fact, they just acknowledged me as being in the top 4% of supersavers in their New York stores. This is because I regularly make purchases at deep discounts from CVS. These include:
• all my paper goods
• vitamins
• kitchen accessories
• dental care products
• occasional candy and dessert treats
• nasal and vision aids
• over the counter medical needs
• clothes and shoes
• hair care products
• special body soaps
• skin care products

 

 

 

 

 

 

Bird's eye maple table with colorful legs. © Decorative Painting by Alison Gilbert
Bird’s eye maple table with colorful legs. © Decorative Painting by Alison Gilbert
GETTING FURNISHINGS FROM THE TRASH (STREET FINDS) AND GARAGE SALES

Unless something is made out of fabric and stuffing, like beds and chairs, I have gotten almost all our furniture from street finds or garage sales. In fact, the quality of old wooden furniture is far superior to the new cheap materials, chipboard and fast growing pine. Consequently, old furniture is in demand.

After honing my skills on pieces I got at at little or no cost or my own furniture, I took on client work and started a business painting,customer furniture and creating custom decorations.
From this, my own 5-Step Decorative Painting System emerged. Here are the five steps involved:
1. Prep
2. Prime
3. Paint
4. Prettify
5. Protect

A manual that describes the process step-by-step is in progress. This makes it possible for anyone to upcycle old furniture and furnishings.

 

USING CREDIT CARDS RESPONSIBLY

PLEASE NOTE THE NEW SECTION DEVOTED TO CREDIT CARDS USAGE. BECAUSE OF THIS, CREDIT CARD USE SYSTEMS ARE NO LONGER PART OF SAVVY SHOPPING SAVINGS TOOLS.

Because of the potential financial dangers of using credit cards irresponsibly, I especially caution that only people with excellent credit and extreme diligence with their use of credit cards follow these ideas. I compiled two booklet from resource materials that detail the best credit cards to use for cash back and travel rewards. They are The Best Cash Back Credit Cards and The Best Travel Rewards Credit Cards. Furthermore, there is a website creditcards.com that will actually calculate which are the best credit cards to use for individual needs.

savvy savings shopper
Credit Cards from Linkedin.com

 

 

 

 

 

 

 

 

 

 

PARTICIPATING IN SOCIAL MEDIA ON THIS TOPIC

Participating in Facebook groups and pages as well as websites can provide lots of new information. The groups can also function as support groups. I strongly recommend joining and participating. Some of my favorite sources are listed below.

READING AND WRITING BLOG POSTS WITH SUGGESTIONS ON THIS TOPIC

Reading and writing blog posts are two great ways of learning new tips as well as processing what one knows on this topic. Here is another blog post I wrote on this topic, Living A Consciously Frugal Life.

READ EVERYTHING I CAN ON THIS TOPIC AND WRITE AN eBOOK ABOUT IT

Especially relevant to writing on this topic to read, are other sources of material. Based upon extensive research and writing, I composed, The Poor Middle Class Crisis eBook. It is designed to ‘tell our story’, going from ‘One Day from Homeless’ to where we are now. The book is filled with savvy savings shopper tips.

a Savvy Savings Shopper
Poor Middle Class Crisis eBook
Conclusion

In conclusion, the list of resources is growing exponentially. It will continue to grow as the need and demand for savvy shavings shopping tips increases.

Sources and Resources

The Savvy Savings Shopper Facebook page
Savvy Shopper Savings Facebook group
A Senior Suburban Survivalist Facebook page
Senior Suburban Survivalism Facebook group
Survival Comes First Facebook page
WiseBread.com website with a Facebook page
WalletHacks.com website with a Facebook page
CreditCards.com website with a Facebook page
NerdWallet.com website with a Facebook page

Continue Reading