Thursday, June 23, 2011

I Got A Rewards Card!

I finally got around to getting a rewards card. Yesterday, on a whim, I called my credit card company and told them I'd like to upgrade my card to a rewards card. I had a sense that the time was right, because they recently upped my credit limit. I'm also pretty sure it had something to do with my paying my balance in full every month for the past six months (and keeping the balance relatively low, prior to that).

Nevertheless, I made the call, was advised that an "upgrade" would not suffice and that I'd have to open a new account, so I did. I answered questions about my income, bank account balances, and rent payments. All in all, it took about 12 minutes.

In the coming weeks, I should receive a shiny new credit card with a $15,000 limit. I don't care what the APR is because, like I've done for the past several months, I'll be paying the balance in full. Additionally, there is no annual fee. I will earn 1.25 miles for every dollar spent, miles do not expire and there's no limit on the miles I can earn. Additionally, I can redeem my miles for airfare, hotel, and more (I'm most interested in airfare purchases). If I spend $1400 a month on my new card, I can rack up 1,750 points a month (21,000 a year). I'm already thinking about what expenses to charge (phone bill, groceries, gas, miscellaneous expenses). Sadly, this will impact my "Keep the Change" savings; however, I'm hopeful that the purchases I'll be able to make with my miles will offset the change. I'll keep you posted!

Do you have a rewards card? 
What's your favorite feature of the card?
What do you use your points/miles for?

1 comment:

  1. What rewards card is that? Sounds awesome.

    ReplyDelete