Free money from your Credit Card

Free Money!  All you have to do is spend.  And sign up.  Check your wallet for one of these cards – Chase Freedom, Discover it or Citibank Dividend.  From now until the end of the year you can earn more rewards for certain spending categories.  The money is free as long as you were planning to buy an item form one of these stores and you use this credit card instead of paying with cash, debit card or regular credit card.

The catch?  You have to sign up for these specials.  You may have even received an email from your bank reminding you about these offers.  I love these offers as I spend what I can afford and watch my free money roll in.

My free money experience.  Last quarter the Discover it category was gas.  I consistently buy gas at Sam’s Club since it is already 20 cents per gallon cheaper and I am there regularly buying milk and fruit for my kids.  Since they do not take my favorite American Express card, I always use my Discover it.  So, last quarter I pocketed extra money for doing something I already do.  Isn’t that the definition of free money? Thanks Discover it!

OK, back to this quarter.  There is a theme – Holiday Spending.  Take a look at the categories for the big three:

Chase Freedom –, select department stores

Discover it – Online shopping

Citibank Dividend – Best Buy, department stores and toy stores.

If you have one of these cards, go and sign up for the bonus categories right now. There are limits to the amount of cash you can earn, so read the fine print.  Then you can mix and match your spending to the card.  Remember, slow and steady wins the credit card game.  This is not a get-rich-quick scheme.  Just a way to find the best credit card to maximize your reward for making a purchase.

Keep in mind that if you are carrying a balance on any of these cards you are charged interest from the moment you make the purchase.  Getting 5% cash back when you are paying double digit interest rate does not result in making your money feel better.

Is there another credit card you use that has a rotating category for extra cash back?  Let me know if the comments section so we all can check out another option.


Keep making your money feel better.