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The article I read the other day prompted me to write about an issue, which many people know about, but fail to use at the right moment. Here are my thoughts on the subject of charging for the purchase.
People are selling, people are buying. If you are one of the lucky ones, who is buying a property right now, keep in mind, that you may charge some of your expenses to your credit card, or all of it, if you have a certain American Express Card).
Same applies to the existing property taxes: charge it (if your city allows it), and then pay it off in full. What’s gained? Your credit card will award you points, which, depending on the card, can be spend on the purchase in the department store or obtaining a couple of tickets to Europe or Las Vegas.
Here is an excerpt from the article I read: “When I was getting ready to write out the check, I was just joking around and said, ‘Can I put this on my card?’ They said yes. It worked out to a $1,000 gift certificate at Saks.”
… isn’t the first buyer …to figure out that his new building could get him all sorts of free swag.”
Let’s consider an example: you buy a brand new TV for a $1,000. If you charge it to a Nordstromcredit card, you’ll earn a $20 gift certificate. Not much, but enough to buy some cosmetics or part of a blouse. If you pay the balance off in full right away, you’ll save on the interest, which could be as high, as 21%. Even if you get this money from your savings, where you earn 3%, it still makes sense. Then start depositing your imagined installments back to your savings account.
Also, many stores have policies, where depending on your level of spending, you may earn a free gift wrapping, sending a gift for free to other states, paying for your parking or a free coffee with something else at the store’s cafe.
No matter what you buy, you’ll still pay for it. So, why not to get something out of it. Keep in mind, that the miles, accumulated on some of your credit cards, may expire. Check the timing and use it.
Read a short article, which I was inspired by at: Curbed and make sure you read the comments. The information you gain may prove to be invaluable.
