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Credit Card Rebates

October 5th, 2008 at 05:45 am

I just had one of those "Aha" monents while reading another member's blog about receiving a rebate check from their credit card company. I use my Discover Card for everything and pay it in full promptly every month. Discover Card offers rebates based on purchases which are available in $20 increments and can be used for gift cards, usually with a $25 value, applied to your credit card balance, donated, received via check, or transfered to any bank account. In the past, I've allowed the rebates to build up until I decide what I want to do with them. I could never decide which restaurant to use the money at so I would end up requesting a check, cash it and spend it without any thought since it was "free" money.
I've just realized that if as soon as the rebate is available, and I request the funds to be transferred into my Emergency Fund account, I don't have to spend andtime thinking about what to do with it and it won't get spent on something I don't need. With less than one minute of data entry, I added $40 to my EF. Going forward, each time another rebate becomes available, I'll send it to the same account with a few clicks of the keyboard. What an easy way to build the fund!!

4 Responses to “Credit Card Rebates”

  1. gamecock43 Says:
    1223216102

    I have the same card as you and always apply it directly to my balance. I love it.

  2. Ima saver Says:
    1223224011

    I save all my rewards checks and add them to my challenge money.

  3. asmom Says:
    1223239256

    Yup, that's what I do. Those little bits of money add up.

  4. Jerry Says:
    1295023806

    That is a smart move that will lead to a little extra money each and every month... I like it. Plus, if you have some insurance that you are not blowing it then that's even better! Smile Jerry

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