Step 14: earn money with a credit card

Though we are remaining true to our debt refusal pledge, the hubs and I realized that, in certain situations, we can use our credit card to earn money.

Yes folks, you read that right. We can actually use that evil piece of plastic for good.

Back when we set up our bank accounts, we signed up for our bank’s credit card in order to get free checking accounts. We ended up with U.S. Bank’s Perks+ card.

Here’s how they describe it:

Perks+ Rewards

  • Earn 2x points on Gas and Grocery net purchases for the first 12 months.
  • Earn 1 point for every dollar spent on everything else.
  • Redeem for rewards you want – redemption starts at 1,700 points for brand name merchandise, 2,500 points for gift cards, 5,000 points for cash back, and 25,000 points for one airline ticket (up to a $400 value) on over 150 airlines with no blackout dates.

Here’s our plan:

  • All major purchases will be put on the credit card. (We consider “major” to be anything over $50.)
  • As soon as the purchase shows up on our online statement, we pay it off with an electronic transfer from our checking account.
  • Use reward points as needed for travel, cash, or gift cards!

Side note: This plan is for items we have budgeted for; new shoes, car repair, filling up the gas tank, etc. It is not for impulse purchases!

Another side note: There are many credit cards out there with similar rewards and cash back benefits. Research to find the one that works best for you!


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