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[Black Republican]

http://www.nerdwallet.com/blog/credit-cards/152-million-credit-card-rewards-holiday-season-2015/

The season of giving can also be the season of getting, especially if consumers use their credit cards to earn points, miles or cash back. But about 1 in 8 Americans with credit cards say they don’t plan to use plastic when shopping this holiday season, which means they may miss out on up to $152 million in rewards, according to a NerdWallet poll and analysis.

In a survey of some 1,600 U.S. consumers, NerdWallet found that 13% of credit card holders who will buy gifts between Thanksgiving and New Year’s Day don’t plan to use their credit cards. These shoppers could have collectively earned $151,810,172 in rewards with a card that had the average rewards rate of 1.14%, according to the analysis.

Key findings
A budget just over $600. More than 85% of Americans with credit cards will buy gifts this holiday season, and spend an average of $601.70 each. That should be enough to buy a hoverboard, one of the hottest gifts this year.

Rewards for better credit. Not all shoppers use credit cards that earn rewards, since these cards typically require a good credit score or better to qualify. We estimate that if all shoppers with credit cards used a rewards card at the average rewards rate, consumers together would earn a total of $1.02 billion in rewards this season from holiday shopping alone.

If all holiday credit card shoppers were to use cards with a higher rewards rate of 2% instead of the average 1.14%, they would collectively get an additional $770 million in rewards.



Maximizing rewards cards
If you plan to do your holiday shopping with a credit card, we recommend using a rewards card with the highest rewards-per-dollar rate to maximize your return. For example, pick a card with a cash-back rate of 1.5% or 2% instead of 1%. If you have a card that earns points or miles, here’s where to find the rewards rate for some of the most popular credit cards.

Additionally, pay attention to bonus offers. Some credit cards have higher reward rates for purchases at department stores, and others have seasonal bonus rewards for specific retailers or spending categories.

No rewards credit card in your wallet? NerdWallet analyzed and found the best rewards credit cards.

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[Visualante2]

To me there's something unpleasant about taking a slice out of other people's debt repayments as a "reward" because I can afford to pay my balance immediately. It's not so much that I'm leaving the rewards on the table, I'm leaving the entire concept of credit on the table.

I know a lot of people are very big proponents of credit on GAF. And it's quite a heated topic from the last thread I read. Hopefully this one won't be the same.

 

[giga]

To me there's something unpleasant about taking a slice out of other people's debt repayments as a "reward" because I can afford to pay my balance immediately. It's not so much that I'm leaving the rewards on the table, I'm leaving the entire concept of credit on the table.

I know a lot of people are very big proponents of credit on GAF. And it's quite a heated topic from the last thread I read. Hopefully this one won't be the same.

You're leaving money on the table. I'll fight you.

 

[No_Style]

To me there's something unpleasant about taking a slice out of other people's debt repayments as a "reward" because I can afford to pay my balance immediately. It's not so much that I'm leaving the rewards on the table, I'm leaving the entire concept of credit on the table.

I know a lot of people are very big proponents of credit on GAF. And it's quite a heated topic from the last thread I read. Hopefully this one won't be the same.

Today I learned it's immoral to take advantage of credit cards & their reward programs.

I'm honestly in disbelief.

 

[M3d10n]

Put together that is indeed a large number, but when your individual credit card rewards can barely buy a Tupperware set before they expire, what's the point?

 

[Blackthorn]

Wow, almost a whole dollar per credit card owner!

In September 2014, the Federal Reserve Bank of Boston published data from its 2011 and 2012 Surveys of Consumer Payment Choice and found that in 2012, 72.1 percent of consumers had at least one credit card. Using the 2014 Census Bureau estimate of 232 million adult consumers in the U.S.,that means there are about 167 million Americans adults with at least one credit card.

 

[RumblingRosco]

To me there's something unpleasant about taking a slice out of other people's debt repayments as a "reward" because I can afford to pay my balance immediately. It's not so much that I'm leaving the rewards on the table, I'm leaving the entire concept of credit on the table.

I know a lot of people are very big proponents of credit on GAF. And it's quite a heated topic from the last thread I read. Hopefully this one won't be the same.

But... credit is essentially necessary in the US. Even if those reward programs didn't exist, I'd still use my credit card to build credit or more importantly for all the other added perks (convenience, security, warranty extensions, etc). If I didn't use my credit card those people would still be in debt. So, I mean, I understand what you're saying, but it basically doesn't make any sense. You're hurting yourself at the benefit of no one.

 

[Vincent Grayson]

To me there's something unpleasant about taking a slice out of other people's debt repayments as a "reward" because I can afford to pay my balance immediately. It's not so much that I'm leaving the rewards on the table, I'm leaving the entire concept of credit on the table.

I know a lot of people are very big proponents of credit on GAF. And it's quite a heated topic from the last thread I read. Hopefully this one won't be the same.

I'm not necessarily a proponent of credit, but I do think it's so thoroughly enmeshed in our lives today that basically only the privileged have the luxury of ignoring it.

 

[ClosingADoor]

To me there's something unpleasant about taking a slice out of other people's debt repayments as a "reward" because I can afford to pay my balance immediately. It's not so much that I'm leaving the rewards on the table, I'm leaving the entire concept of credit on the table.

I know a lot of people are very big proponents of credit on GAF. And it's quite a heated topic from the last thread I read. Hopefully this one won't be the same.

You are not doing that. The companies you shop at pay a (small) amount of the payment to the credit card company. That is how they make money primarily, but by having people in debt. The companies rather have you use the card a lot then have you in debt to them, since debt is a risk, your transactions are not.

 

[Darth Karja]

Put together that is indeed a large number, but when your individual credit card rewards can barely buy a Tupperware set before they expire, what's the point?

I've cashed in $80 in rewards for a 9 months of use and I've got $74 more waiting. My money isn't being left on the table.

 

[ColdPizza]

Put together that is indeed a large number, but when your individual credit card rewards can barely buy a Tupperware set before they expire, what's the point?

Get a better card if your rewards are expiring.

 

[Bjomesphat]

To me there's something unpleasant about taking a slice out of other people's debt repayments as a "reward" because I can afford to pay my balance immediately. It's not so much that I'm leaving the rewards on the table, I'm leaving the entire concept of credit on the table.

I know a lot of people are very big proponents of credit on GAF. And it's quite a heated topic from the last thread I read. Hopefully this one won't be the same.

I'm glad this was the first post, because this is one of the stupidest credit posts I've read. None of it makes any sense!

 

[tim.mbp]

Put together that is indeed a large number, but when your individual credit card rewards can barely buy a Tupperware set before they expire, what's the point?

Get a Quicksilver card. Rewards don't expire. Set up auto renewal and forget about it.

 

[Culex]

I pay all my bills/utilities and groceries through my credit card and pay it all off by the end of the month, I accrue between 250-300 cash back each year doing this, especially using my cards targeted 10% cash back on certain items.

It's literally free money for me at Christmas.

 

[hodgy100]

Yeah I should probably get a credit card and use that for all my payments then just pay it off at the end of each month :/

 

[Silent Chief]

Cards that give high rewards cost the retailers more.

One in a while, the retailers asks customers not to use credit cards.
The way I see it, they're asking me to donate to their store.

If you want to be a cash/debit only store, got for it, and if some customers want to subsidize me, I have no problem with that, but I'll reduce my costs if I can.

 

[David Incorporated Esq.]

To me there's something unpleasant about taking a slice out of other people's debt repayments as a "reward" because I can afford to pay my balance immediately. It's not so much that I'm leaving the rewards on the table, I'm leaving the entire concept of credit on the table.

I know a lot of people are very big proponents of credit on GAF. And it's quite a heated topic from the last thread I read. Hopefully this one won't be the same.

The takeover of credit as a primary form of consumer purchasing is undeniably bad for poorer people, but removing yourself from the equation only hurts yourself and won't change the overall system. Any sort of real change will require top-down regulation on an international level. I wouldn't hold your breath.

Edit: As far as rewards go? I've gotten many hundreds over the years from them, but I'm in a good position to use credit so I can see why others would stay away from it.

 

[ColdPizza]

this figure probably doesn't even include residual benefits other cards offer such as price protection. I bought a laptop last month and it dropped $80. My card will me file a claim to get a refund for the difference if it drops within 90 days.

 

[Eiolon]

I always use cash back credit cards for every possible transaction. I typically get about $70 a month in return. Forthe most part merchants have added the credit card transaction fee into the cost of the product. You typically don't get a cheaper product if you decide to use cash.

 

[The Chef]

To me there's something unpleasant about taking a slice out of other people's debt repayments as a "reward" because I can afford to pay my balance immediately. It's not so much that I'm leaving the rewards on the table, I'm leaving the entire concept of credit on the table.

I know a lot of people are very big proponents of credit on GAF. And it's quite a heated topic from the last thread I read. Hopefully this one won't be the same.

Everyone in this thread is now dumber for having read this post.
Stupidity at MAX LEVEL.

 

[TheWarrior]

I'm getting 5% back on Amazon this quarter and qualified for a bonus 5%.I pay my bill on time and will most likely get the max of $150 on the 10% this quarter. I use my card for everything, the key is paying in full every month to make the points mean something.

 

[modernlifeisANDY]

I have enough rewards miles on my credit card because of bonuses and putting everything on it and paying off in full to afford plane tickets for my whole family for our Disney trip next year. I'm happy with my card.

 

[The_Dama]

Is paying your bills on a credit card recommended? Asking so I can rack up points. Or just pay my bills via direct deposit ?

 

[ColdPizza]

Is paying your bills on a credit card recommended? Asking so I can rack up points. Or just pay my bills via direct deposit ?

If you can without incurring a surcharge from them, do it.

 

[Nipo]

Signing up for the right credit cards and using them smart can let you fly for free pretty much anywhere in the world. if you have good credit it is silly not to take advantage of the opportunity.

 

[massoluk]

To me there's something unpleasant about taking a slice out of other people's debt repayments as a "reward" because I can afford to pay my balance immediately. It's not so much that I'm leaving the rewards on the table, I'm leaving the entire concept of credit on the table.

I know a lot of people are very big proponents of credit on GAF. And it's quite a heated topic from the last thread I read. Hopefully this one won't be the same.

If you ask me, the only way you'd help is to be in the system and be part of the non-deliquent crowd.

 

[The Chef]

Is paying your bills on a credit card recommended? Asking so I can rack up points. Or just pay my bills via direct deposit ?

Of course its recommended. You we're going to pay your bill in cash anyway and now you get rewards for using your CC.

 

[Nipo]

Of course its recommended. You we're going to pay your bill in cash anyway and now you get rewards for using your CC.

Some utilities have a 3% credit surcharge. if the credit surcharge is greater than the rewards rate it is rarely worth using the card. The only real exception is when you need to do it to hit the minimum spend requirements to get a sign up bonus.

 

[Applesauce]

Is paying your bills on a credit card recommended? Asking so I can rack up points. Or just pay my bills via direct deposit ?

I use my American Express just for that. 1% on all purchases, it adds up. Just don't carry a balance and read the fine print for annual fees.

 

[Tesseract]

Kit Latura: [hearing the tunnel collapsing on itself] Keep trying you piece of shit. Keep trying. You've killed everybody else. You know what, you haven't killed me.
[readies an explosive]
Kit Latura: I have found your heart, and I'm gonna blow it right out of you
[thrusts the explosive right into the wall of mud]

sylvester stallone, daylight ~ 1886

 

[mackattk]

Yeah it is pretty great to get a load of cashback from credit cards. My favorite is my Discover card, the revolving 5% cashback categories every 3 months is kind of a hassle but it is doable.

The real meat of it is the 5% Discover Deals cashback on top of your normal cashback you get. Go through Discover Deal's portal and I am able to get 5% off at Best Buy or Home Depot. Best Buy GCU stacked with Discover Deals is amazing.

I have three credit cards that I use depending on what I am purchasing, The 2-3% cashback is small in most circumstances, but it adds up and am able to reap hundreds of dollars in rewards each year.

 

[BattleMonkey]

I didn't even know about!y rewards and so many expiredin the past. But I've gotten over 300 in amazon gift certificates in like the past two years from them.

 

[SmokeMaxX]

Put together that is indeed a large number, but when your individual credit card rewards can barely buy a Tupperware set before they expire, what's the point?

What cards have rewards that expire? I didn't even know this was a thing and I have like ten credit cards.

 

[tim.mbp]

Kit Latura: [hearing the tunnel collapsing on itself] Keep trying you piece of shit. Keep trying. You've killed everybody else. You know what, you haven't killed me.
[readies an explosive]
Kit Latura: I have found your heart, and I'm gonna blow it right out of you
[thrusts the explosive right into the wall of mud]

sylvester stallone, daylight ~ 1886

???

 

[Skellig Gra]

Put together that is indeed a large number, but when your individual credit card rewards can barely buy a Tupperware set before they expire, what's the point?

Are you using a credit card from the 1990's or something? Almost all major modern credit cards have a straight forward cash back system.

 

[Pastry]

Kit Latura: [hearing the tunnel collapsing on itself] Keep trying you piece of shit. Keep trying. You've killed everybody else. You know what, you haven't killed me.
[readies an explosive]
Kit Latura: I have found your heart, and I'm gonna blow it right out of you
[thrusts the explosive right into the wall of mud]

sylvester stallone, daylight ~ 1886

What did I just read

 

[Lexxism]

To me there's something unpleasant about taking a slice out of other people's debt repayments as a "reward" because I can afford to pay my balance immediately. It's not so much that I'm leaving the rewards on the table, I'm leaving the entire concept of credit on the table.

I know a lot of people are very big proponents of credit on GAF. And it's quite a heated topic from the last thread I read. Hopefully this one won't be the same.

lol. This post doesn't even make any sense.

 

[ryutaro's mama]

Put together that is indeed a large number, but when your individual credit card rewards can barely buy a Tupperware set before they expire, what's the point?

I have made over $1000 this year in Amazon CC reward points just by putting all my bills/spending on the card and paying off the balance at month's end, no interest.

Essentially sponging the points off things before I pay them as I normally would.

 

[Earthstrike]

To me there's something unpleasant about taking a slice out of other people's debt repayments as a "reward" because I can afford to pay my balance immediately. It's not so much that I'm leaving the rewards on the table, I'm leaving the entire concept of credit on the table.

I know a lot of people are very big proponents of credit on GAF. And it's quite a heated topic from the last thread I read. Hopefully this one won't be the same.

That's not the money you are taking. Credit cards would still be profitable for banks because of merchant fees, even if everyone paid their shit on time.

 

[sssstententen]

Got about $200 within a 5-6 month span of using my Amazon Visa card. I have a $500 limit on it too. Just use it as essentially a glorified debit, since I always pay it off in full.

So I guess I get their point. No reason not to take advantadge of it. I haven't paid an extra cent so far.

 

[winjet81]

The wife and I bring in $40-45 a month in cash-back through our CCs.

Everything that can be paid for by CC is put on, including pretty much all of our monthly bills.

 

[victreeb3l]

Got about $150 back from Capital One. Would've been more if my limit was higher. I basically pay everything with my CC and pay the whole balance every 2 weeks or so.

 

[freenudemacusers]

Is paying your bills on a credit card recommended? Asking so I can rack up points. Or just pay my bills via direct deposit ?

Put everything you can on a card and just pay it off monthly. Win win.

 

[Maxim726X]

Why wouldn't you want your money working for you?

I never carry cash, everything is on a card. Have about 300,000 in Amex points. It will pay for a crazy vacation or two... Just for paying for shit that I would have used cash on anyway.

 

[Jeremy]

Put together that is indeed a large number, but when your individual credit card rewards can barely buy a Tupperware set before they expire, what's the point?

Yep, this is what I came to say. I have a shit ton of rewards points on a Sony card and don't feel like bidding on items all day that I'm going to lose but still don't have enough points to purchase anything that feels anywhere near worthwhile. I can't really get any other cards though.

 

[AP90]

You're leaving money on the table. I'll fight you.

This.

 

[Flo_Evans]

I get 5% back on my Amazon card /flex

 

[AP90]

I always use cash back credit cards for every possible transaction. I typically get about $70 a month in return. Forthe most part merchants have added the credit card transaction fee into the cost of the product. You typically don't get a cheaper product if you decide to use cash.

This too.. The only benefit for using cash in my area would be for gas.. But almost every rewards card offers 3% cash back on gas, 2% on groceries.. And if they are through banks, you get a 10% bonus to that reward eventually if you have them direct deposit into your checking account.

My fiancé just selected the discover deal for 5% back on gas starting in Jan for a couple of months..

 

[theechrisfox]

Wow, almost a whole dollar per credit card owner!

Statistics without context is pretty amazing. Good find.

 

[Relix]

I got an AMEX Blue Cash a month ago to go with another AMEX I have and a MasterCard. The benefits are so good that everything I've purchased the past month has been that card. In one month I probably accumulated $25-30 of rewards... and of course I am paying it off. Hell I have a negative balance . Its free money if you know how to use it