I started using credit cards for rewards and now have several cards with different categories, bonus deadlines and payment dates. The small savings have turned into a spreadsheet hobby I don't enjoy. I'm considering keeping one reliable card, closing or shelving the extras as appropriate and accepting fewer points. At what point did a rewards system become more work than it was worth for you?
Handling a credit-card rewards setup that has become too complicated to track
Simulated community examples only. Not financial, tax, investment, or legal advice.
- personal-finance
- handling
- credit
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4 replies
For me the tipping point was when I started missing a payment date just from keeping track of the dates. Points are nice, but they shouldn't...
For me the tipping point was when I started missing a payment date just from keeping track of the dates. Points are nice, but they shouldn't require a calendar system I dislike using.
One card and a boring setup is underrated. I used to chase categories, and the real savings were lost in the time I spent checking which card wanted groceries this month.
I don't think there's a magic number of cards. If the setup changes how you behave, like making you buy things you wouldn't otherwise buy, that's a pretty clear sign it's too much work.
Exactly. At some point the rewards become a part-time job with worse pay than the actual part-time jobs people have.
I'm leaning toward one main card too. The mental overhead feels like the hidden fee, even before you count the annual fees and the missed of...