Hit $250 in cashback this quarter and I'm honestly confused

People always say cashback cards are a waste and you should just use debit to avoid debt. But I put all my monthly bills and groceries on a simple 2% card and paid it off every week. Ended up with $250 last quarter just for buying stuff I needed anyway. It's not life changing money but it's $250 I wouldn't have had otherwise... I guess I just don't see the downside if you're disciplined. Has anyone else had this experience with cashback cards?

3 comments

3 Comments

jaken2316d ago

250 bucks is 250 bucks, I get it. But I've seen way too many people trick themselves into thinking they're "saving" by spending more. You say you're disciplined but most people aren't. The whole cashback game works because the banks know a lot of folks will eventually slip up and carry a balance or buy something they wouldn't have otherwise. It's not really that serious, it's just a few hundred dollars extra per year. If you're that tight on money, focusing on cutting expenses would probably do more for you than chasing cashback.

emerycarr16d ago

Exactly, nothing says financial wisdom like assuming everyone else is gonna blow it on a Peloton. Some of us just like free money without the drama.

johnthompson16d ago

Read an article that said the average person with a cashback card spends about 15% more than if they used cash or debit. It all adds up whether you notice it or not.