Yesterday the Honeybee and I got another dividend rewards check from our credit card company – this time for $247.10. I love it when those checks come in, as we use the money to treat ourselves to a nice dinner, night on the town, or other fun activity.
Over the past several years we have earned over $1500 for nothing more than using our credit card!
We get these checks because we have a credit card that pays us a one percent dividend on all of our purchases – and we use that credit card for every purchase we can, from large purchases like new furniture to smaller stuff like our groceries and gasoline.
Of course, such a program only makes sense if you’re like us and absolutely refuse to carry a balance on your credit cards; we only use the card if we know we can pay it off in full before the grace period expires.
As for those of you who lack such fiscal discipline, I strongly recommend you stay away from these dividend rewards cards. Instead, you would be much better served financially by learning to control your urge for instant gratification and eliminating the revolving debt on your existing credit cards.
After all, I hate paying interest to anybody – for anything. You should too.
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