Using credit cards for the perks (miles, points, etc.)

[rszdtrvl]

My question is :

How do you keep track??

I have tried to use our Southwest credit card for everything, but I end up confused and putting more on it than I should

Is there a tried-and-true way to earn the miles but still stay within your budget?

I know I can put the following monthly bills on our credit card : Cable, PUD, Utility. That comes to approx. $500 (sometimes more). If I just put those on the card monthly, I know I can keep decent track of it and earn 6,000 miles/year.

But I would like to put as much as possible on it. And would love to know if you have a routine or way that works for you that I could try.....

Thanks!

 

[geckodani]

Keep a log, either in a spreadsheet, a checkbook register a notebook etc. Write down every transaction.

 

[momto3pirates]

I don't know about tried and true, but I buy everything for my house with my Disney visa and everything for my business on my United card. I use them more like debit in that I only spend what I know I can go in and pay off. I have both accounts online and pay them off once or twice a month. You do have to be careful to never buy more than you can pay off. One month with interest will wipe out any "savings" you have earned.

 

[lurkernj]

I use chase online. When I log in, it shows me every card I have through chase, which is all of them except kohls and target. I logon at least once a week so I can make sure there is no fraud, and to keep an eye on the balances.

I pay every credit card off when the bill comes in and have reaped magnificent benefits from these cards. We are on our 5th SW visa (between DH and I), which has given us several las vegas and orlando flights free, plus have a United card that we've used for about 20 yrs and had eight free round trips to Hawaii from that one (will have another 4 to use summer of 2014). Trips we couldn't otherwise afford have been made possible.

If you can manage properly, it can really be beneficial.

 

[msmama]

I treat my credit card the same way I treat my debit card/check book. Every transaction gets written down so I always know how much is on there.

With most online/computer money managing gizmo's, you can add recurring monthly charges, too. If you did it on paper you'd have to remember that yourself.

 

[mrsklamc]

My question is :

How do you keep track??

I have tried to use our Southwest credit card for everything, but I end up confused and putting more on it than I should

Is there a tried-and-true way to earn the miles but still stay within your budget?

I know I can put the following monthly bills on our credit card : Cable, PUD, Utility. That comes to approx. $500 (sometimes more). If I just put those on the card monthly, I know I can keep decent track of it and earn 6,000 miles/year.

But I would like to put as much as possible on it. And would love to know if you have a routine or way that works for you that I could try.....

Thanks!

When you say 'more on it than you should' do you mean you blow your budget or you go over the limit of the card?

 

[mrsklamc]

plus have a United card that we've used for about 20 yrs and had eight free round trips to Hawaii from that one (will have another 4 to use summer of 2014). Trips we couldn't otherwise afford have been made possible.

I am looking at United cards now, because I have always wanted to go to Hawaii. About how many points/miles does a trip to Hawaii cost? I find miles so confusing, Disney Dollars are so much easier.

 

[wiigirl]

Keep a log, either in a spreadsheet, a checkbook register a notebook etc. Write down every transaction.

Thats what we do and we pay our credit card WEEKLY on transactions. We do almost all our payments online and it just helps us keep organized and on track.

 

[lurkernj]

I am looking at United cards now, because I have always wanted to go to Hawaii. About how many points/miles does a trip to Hawaii cost? I find miles so confusing, Disney Dollars are so much easier.

If you book far enough in advance (like at least 7-8 months out), you can get pretty good flights/times for about 40k round trip. We only use these miles for Hawaii as it is a great value for the points.

The card we have (which I think most of them have this now) gives an extra 10k bonus at the end of the year if you spend over $25k, which for us isn't an issue since I charge every possible thing on there (gas/groceries/car repairs/cell phone bill, etc), so each year I'm close to one more round trip to Hawaii.

 

[ZephyrHawk]

All food and gas is purchased with my Disney Visa and all other purchases are made with my Southwest card. I pay both off every month. I don't keep track other than that.

 

[ColoradoDisneyFreaks]

We use MS Money to track all of our accounts, checking, credit, etc. Every transaction we make is entered (we save receipts and enter a couple of times a week) and then my DH reconciles against the credit card statement or bank statement on line a couple of times a month and pays the credit card. The benefit is we always know exactly what's on the card, and we frequently catch fraudulent charges pretty much right away.

We use the card for everything, and love the miles tickets to travel!

 

[Darcy03231]

Thats what we do and we pay our credit card WEEKLY on transactions. We do almost all our payments online and it just helps us keep organized and on track.

This is what I do too.

 

[manning]

I am looking at United cards now, because I have always wanted to go to Hawaii. About how many points/miles does a trip to Hawaii cost? I find miles so confusing, Disney Dollars are so much easier.

From Chicago lowest point usage

27,500 points plus $125.00....each way.


I think if you don't pay a fee it's 40,000 each way.

 

[scard192]

I have 3 Chase credit cards, Discover, Amex Blue. I keep a "cheat sheet" with who is offering the best rewards for the categories I purchase and it changes each quarter based on what Chase Freedom and Discover are offering. None of my cards have groceries anymore so that goes on Amex @ 3%. All puchases that only pay 1% go on my Disney Visa. After I pay a bill by credit card I go right into my on line banking and send that amount to the credit card company. A little more work but love the rewards.

 

[mrsklamc]

From Chicago lowest point usage

27,500 points plus $125.00....each way.


I think if you don't pay a fee it's 40,000 each way.

Thanks!

 

[Leeanne]

I use the website/app Mint.com. I love it! I can pull all my savings, checking, credit cards, mortgages, even my 401K into one place. I set up a monthly budget (right now is a great time to pull all your info as its the end of the month and you can see your past months spending. I take that info and create a monthly budget. I can see every time something posts (both debit and credit) and immediately put into the correct line item. Cool thing is (for example) our gas budget is $350/month. If I have an extra $50 left over at the end of the month, then that can go in savings, vacation fund, etc. It works on apple, android, and PC computer. I use all three and love it!

 

[alryan]

I use chase online. When I log in, it shows me every card I have through chase, which is all of them except kohls and target. I logon at least once a week so I can make sure there is no fraud, and to keep an eye on the balances.

I pay every credit card off when the bill comes in and have reaped magnificent benefits from these cards. We are on our 5th SW visa (between DH and I), which has given us several las vegas and orlando flights free, plus have a United card that we've used for about 20 yrs and had eight free round trips to Hawaii from that one (will have another 4 to use summer of 2014). Trips we couldn't otherwise afford have been made possible.

If you can manage properly, it can really be beneficial.

Can I ask, how did you get 5 SW visas? I just cancelled the one I did last year, but when you read the fine print it says the bonus offer is not for past SW visa cardmembers. I know others have also posted on here that they have done it more than once, but I don't want to pay the annual fee and not get the bonus points.

 

[lurkernj]

From Chicago lowest point usage

27,500 points plus $125.00....each way.


I think if you don't pay a fee it's 40,000 each way.

Maybe it's different depending where you are flying from, though I'd think from NJ it would be around the same as Chicago.

Just yesterday I was playing around with the site to see if I could fly from NJ, stop in Las Vegas for three nights, and continue onto Maui, and it all worked out to be 20,000 miles each way, and $10 total taxes (I had just read on flyertalk that you are allowed one stopover). This was for November. (I'm not actually planning to go then, just seeing what's possible)

 

[lurkernj]

Can I ask, how did you get 5 SW visas? I just cancelled the one I did last year, but when you read the fine print it says the bonus offer is not for past SW visa cardmembers. I know others have also posted on here that they have done it more than once, but I don't want to pay the annual fee and not get the bonus points.

I had applied for one 2 or 3 yrs ago when they were giving the two free round trip flights, not points. I cancelled it when the annual fee came due. Last year DH and I each applied for the basic card, the $69 annual fee one, and we each got 50,000 miles. Later in the year, while still having the basic card, we both applied for the premier card, which is $99 annual fee. I fully did not expect to get approved, but we both did so now we have another 50,000 each. (we've used the points for 4 rt tickets to Disney, 4 rt tickets to vegas, and still have a ton left!)

Yes, I know about the credit hits, but we have no debt except our mortgage, which is almost paid off.

 

[hsmamato2]

OP,I'm a little unclear as to your meaning....do you mean you have hard time keeping track of your various cards,and what you're spending/earning on them? Or are you having a hard time staying within a budget,and using them for rewards? those are 2 different things....I will say this, if you can't stay within your own budget on a monthly basis,and pay off your cc in full before it's due,then you should stop using cc's for rewards,as you're paying too much into the card. This method of rewards only benefits you,the consumer if you don't go beyond your budget,and PIF every month. YOu should NOT be paying any interest,that negates any potential savings,and you're better off with a cash system.
I keep track of mine by using it like a checkbook, and I keep a running budget list that has exactly how much I can spend monthly,along with weekly updates as to where I am on my budget for the month.It's a notebook.
If it's keeping track of various cards/awards, awardwallet is a good place ot keep track of that kind of thing.