Credit card rewards?

G

goodoldalky

Member

15+ Year Member

• 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?

 

R

RockShox

Full Member

10+ Year Member

15+ Year Member

• 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

Drinks, anyone?

10+ Year Member

7+ Year Member

15+ Year Member

• 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?

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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

Practicing Doc and Blogger

Verified Member

Partner Organization

Physician

20+ Year Member

• 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

Senior Member

Moderator Emeritus

Verified Member

Physician

Faculty

15+ Year Member

• 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.

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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

Practicing Doc and Blogger

Verified Member

Partner Organization

Physician

20+ Year Member

• Aug 26, 2007

• #7

TMP-SMX said:

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

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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.

 

E

Ephesus

Member

10+ Year Member

15+ Year Member

• Sep 3, 2007

• #8

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