Author Topic: Effective cc hacking cutting into bank profits  (Read 1376 times)

lhamo

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Michael in ABQ

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Re: Effective cc hacking cutting into bank profits
« Reply #1 on: July 13, 2018, 10:27:32 PM »
Since we became debt free about a year and a half ago we completely stopped using credit cards. We use primarily cash with a debit card for some things like gas. Recently I was transitioning between jobs and we had just bought a larger vehicle but hadn't yet sold the old one and had to pull out an old credit card for a few weeks. I felt bad about going into debt again, even temporarily but I think we got something like $60 in cash back rewards and of course didn't pay any interest. I would guess some of these banks will start reducing their CC benefits or at least capping them but then again there's so much money to be made if someone does end up carrying a balance for even a month or two.

lhamo

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Re: Effective cc hacking cutting into bank profits
« Reply #2 on: July 13, 2018, 10:32:14 PM »
I used two different cc/ff programs (the latter which included a substantial amount of cc signup bonus miles) to book tickets to the UK in a couple of weeks, saving over $2000.  And put hotel reservations on another new card that will secure me a 60,000 pt sign up bonus.  The cc bonus game is fun if you play it right (rotate cards regularly, never carry a balance).