Credit Card Updates
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In this post, I would like to provide an update on my credit card situation and how each card should be helping me to increase my net worth.
First, I just recently switched from the American Express Blue Rewards card to the American Express Blue Cash card. Even though this might seem like a small change, I noticed that I would be able to capture a larger rewards amount with the Blue Cash card. The other benefit is that the reward is paid in cash versus the rewards points that I often converted to gift cards at frequently visited stores. There are a few downsides that I have also taken into consideration: i) slightly higher interest rate (shouldn’t be a problem since the balance is paid in full every month and ii) the rewards are paid out once per year. Weighing all of the pro’s and con’s, I feel that I would be able to capture a larger rewards savings with this card that will help me with my net worth goals. Once paid, I will deposit the annual savings amounts into my account.
Secondly, I converted another $143.42 in Citi Dividend Rewards into a cash payment helping add to my overall account, similar to a previous post. This dividend amount will be deposited into my account for the month.
Are you aware of any other rewards cards that I can take advantage off? If so, please leave a comment.
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