Taking Advantage of Credit Card Rewards

Posted On: February 28, 2006

Author: Tommy
Posted: Tue Jul 22, 2003 9:03 am
Post subject: Taking Advantage of Credit Card Rewards

I just got my first credit card from Citibank.  It says that before the end of the year, I’ll have 5% cash back. Then 1%. The credit limit is $5000.
I’m wondering if I can buy money order for myself using credit card to earn those 5% cash back. Or if there’s any other way to use the card but not spend money while earn cash back.  Any advice will be greatly appreciated!!

why is it that some people’s first reaction to a new opportunity is to try to figure out a way to beat the system, thereby eventually ruining it for everyone else? Just use your card the way it’s meant to be used making legitimate purchases, pay your bill every month, and you’ll be dollars ahead.

BEAT the system or USE the system? The credit card companies are not stupid. They know EXACTLY how people are going to take advantage of their offers. For instance, every time I get an intro zero percent balance transfer offer with no transaction fee I transfer just under the credit limit on that card to an interest bearing account, pay the minimum each month until the offer expires, at which time I withdraw the principal from the interest bearing account and pay the credit card company in full. I get to keep the interest.l As I said, this is not BEATING the system; it’s merely a case of USING the system.