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I can’t express how much this is important in an economy where times are tough, but why people haven’t been capitalizing on this earlier is beyond me. I’ve actually had a Discover Card since college and it’s never failed to provide me with all sorts of goodies that were just added benefit since I already used the card anyways.
Here’s the really great thing about it all. Cash back rewards cards are entirely useful because if you pay bills with your credit cards, then you automatically get some money back. Be it 1% or more, it’s still money that you earn because you went the extra mile to pump it through a credit line first before applying your check book on it.
Now, the only reason this would SAVE you money is if you reduce your balance to zero every month. And if you do, reap the rewards since you can sometimes even double or triple your earnings with gift cards to restaurants that you would eat at anyways, or splurge on buying a little something for yourself with money that you’ve accumulated from “paying bills”.
Really, the biggest harm in all of this is if you don’t pay off your cards in a timely fashion. But if you’re financially sound and don’t go charging outside your limits, this small boon really helps out in the hardest of times.