Credit card rewards?

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goodoldalky

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1. Attending Physician

• Aug 24, 2007

• #1

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Does anyone pay their school-related fees with credit cards and then pay them off immediately with loan funds in order to obtain airline miles or credit card rewards?

I am thinking about doing this and am particularly interested in airmiles since my girlfriend is across the country. Any suggestions?

 

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RockShox

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1. Medical Student

• Aug 24, 2007

• #2

I do this when I can and it is a nice feature. Do keep in mind that most cards usually have a annual limit as to how many you can get so shop around for the best ones (usually those platinum or higher have higher limits but also have higher annual fees). You can also try other types of cards, one of my cards gives me points for each dollar and then I can chose from a list of things to use it for. (30,000 gives me a $350 gift certificate or $500 airline voucher).

 

akpete

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1. Resident [Any Field]

• Aug 24, 2007

• #3

goodoldalky said:

Does anyone pay their school-related fees with credit cards and then pay them off immediately with loan funds in order to obtain airline miles or credit card rewards?

I am thinking about doing this and am particularly interested in airmiles since my girlfriend is across the country. Any suggestions?

Click to expand...

why limit it to school-related? as long as you're responsible about it, pay anything you can with the cards with rewards. then pay off the balance every month. get a bonus for the money you'd spend anyway.

 

N

njbmd

• Aug 24, 2007

• #4

Moving to Finance & Investment.

 

The White Coat Investor

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1. Attending Physician

• Aug 25, 2007

• #5

So far I've bought two cars on credit card. The dealers weren't happy, but, hey, they took it.

 

TMP-SMX

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1. Attending Physician

• Aug 26, 2007

• #6

ActiveDutyMD said:

So far I've bought two cars on credit card. The dealers weren't happy, but, hey, they took it.

Click to expand...

Yeah. I wouldn't want to pay 2% or up on thousands of dollars either. What's your credit limit, because that's pretty sweet?

 

The White Coat Investor

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1. Attending Physician

• Aug 26, 2007

• #7

TMP-SMX said:

What's your credit limit, because that's pretty sweet?

Click to expand...

The important thing isn't my credit limit (I have three cards...$22K, $20K, $18K, plus a $125K HELOC my bank keeps trying to get me to take) but that I bought very inexpensive cars-$7K and $2K. I'm sure I wouldn't have been able to get them to do it on a $20K car.

 

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• Sep 3, 2007

• #8

In NYS you can't put more than 2000$ on a car. Just FYI.