capital one

No I'm not being paid for this... well actually sort of I am... not paid to blog about a credit card company, but... go ahead, just read about it.

We really like our Capital One credit card!!!

We don't belong to the club that pays cash for everything... we're the ones who use our credit card for everything. But before you pass out or leave me a mean comment... let me explain.

Our Capital One card gives us 1% cash back on most purchases and 5% on a few others. That means for every $100 we spend we get $1. That may not sound like much, but when you pay for everything on the card it adds up... roughly to about $200 per year, give or take.

To increase this number we have both been known to pay for business expenses on our card and then wait for reimbursement (as long as we have the money to cover the immediate charge, of course!), simply because we can get cash back.

We completely pay off our credit card each month so we never pay interest. That means the Capital One folks actually pay us to use their card.

Some folks I have talked to who use a certain cash only plan (which will remain nameless), don't understand how this works. One well-meaning lady informed me that I must be confused because credit card companies are evil and would never give money away and I really should switch to a cash only system. She was sure I was somehow being scammed.

I don't spend what I don't have, I save, I am not in debt and I get paid to make everyday purchases... that works for me!

Check out Rocks in My Dryer for more Works for Me Wednesday tips.

** Disclaimer: I am fully aware that some people find credit cards to be a stumbling block to their spending habits. You know yourself, a cashback card doesn't matter if you don't pay it off each month. **


Wanda said...

Sounds like a good plan. We do not have CC's they have hurt us in the past.
Not something we learned easily.
But....now we are cash only nerds.

Your situation seems very valid!

emw said...

Thanks Wanda. Everybody's got to do what works for them! Have a blessed day.