Credit Card Reward Points adds to my net worth
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In a previous post, I talked about how you can create some cash/savings through the use of all of the current rewards options available. I decided to utilize this startegy by paying my recent graduate school tuition bills through a Citibank Dividend Rewards card. With this card, I receive a certain percentage back in cash through a dividend check.
As each semester is completed, I accrue these dividend dollars quickly with my credit card. I just recently requested a dividend check valued $129.57 so that I can create additional passive income by earning interest in my ING account. I will update my net worth to include these savings.
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4 Comments on this post
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Cash Back Credit Cards said:
Does your school not charge a processing/transaction fee for using a credit card to pay tutition? Mine charges 3% and it pretty much eliminated any incentive to use a credit card to pay tuition.
Good for you though, that’s a nice amount to build up the savings.
July 11th, 2008 at 11:50 am -
pfstock said:
At the time of your previous post, you didn’t mention a Citibank Dividend card. In fact, I think I brought up the idea of using a Citibank Dividend card in the comments. Does your graduate school not accept American Express?
July 11th, 2008 at 1:46 pm -
Finance Puzzle said:
PFStock, you are correct you originally recommended the Citi card. I prefer to use my Amex but my school doesn’t take it so I carry a Citi card as a backup reward option. The school also doesn’t charge a processing fee for credit card payment which makes it beneficial.
July 11th, 2008 at 1:59 pm
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