Frugal Friday: Using credit offers wisely

Yesterday I received a credit card offer that I can't refuse. While working hard on paying down our credit card debt, I've done my best not to use our credit cards. But if you have willpower, you can use offers to your advantage. Here's what I'm doing:

Yesterday I received an offer to get back 20% on ANYTHING I buy with Card X between now and 8/31, up to $45. That means I can spend $225.00 and get back $45. Now, THAT is a considerable saving! So here's what I resolved to do: use that card for the next $225 worth of purchases, then as soon as the transaction hits the online account, immediately pay it out of our bank. This card does not limit how many online payment transactions you can have per month, so I could pay off 10 transactions if that's what it were to take. Luckily - so to speak - I had to take my daughter to the eye doctor today, so between the exam and the new glasses, I spent $148 right there. I spent another almost $50 on household items and a fan for the church building. So in just two transactions, I've already accumulated most of the $225 I can spend to get money back on.

You've got to have willpower to use credit card offers wisely, though. I'm not going to go out and spend the money on things I wouldn't have bought otherwise "just because" I'm going to get the 20% back. What I spent today is things I would have bought anyway. I'm just sticking an extra step into the payment system. Read all the rules, understand what you're getting into, make yourself stick to the deal and nothing more, and keep up with what you're doing - follow through.



And while we're on the subject of frugality, here's a post on FREE online movies and TV shows that I put up as my "WFMW" post - you can't beat free!

Be sure to visit Crystal's blog for more great frugal goodness!