Saturday, August 11, 2012

Saving the Moola: get cash back on purchases without using credit

photo credit
While Jason and I have each had credit cards in the past, we do not make it a habit to have and use credit cards now. There is one caveat to this, though, that I want to share in the interest of full honesty: I do have a Kohl's charge card that I use when I shop there. I use the card to pay for my purchase, then I immediately head to the customer service desk, take the total from my receipt and pay the amount in cash at the desk. Thus, my credit card bill is always $0 when it arrives at my house.

Why do I use my Kohl's charge? Isn't it simply easier to pay in cash or use my debit card? I get a lot of perks by using my Kohl's credit card. I regularly get 30% on top of all the sale prices. Granted, I don't shop at Kohl's often - maybe three or four times a year. But their prices are competitive, so long as you shop only the sales and use a 30% off coupon. We've bought many items lower than our buy-now prices.

That is the only credit card we have. We do not have a regular credit card we could use wherever we wanted. Just as the Kohl's card comes with its own perks in the form of coupons, there are many credit cards available that have their own perks.

Most of those perks are never redeemed. Most of those perks aren't useful to me. Most of the perks aren't worth it to me to have a credit card.

But I want to make the most of the purchases I make. Jason and I both listen to Dave Ramsey and often hear him talk about the PerkStreet debit card, which offers cash back on every purchase. I am the more skeptical one in our family, but Jason really latched onto this idea. I told him if he wanted to research it and set it up, that would be fine, but I wasn't sure it was a worthwhile investment of our time and energy.

And as it often turns out, my husband was absolutely on the money with this idea. We've been using our PerkStreet card for a over a month now, and we are huge, huge fans. It's a debit card, so there's no credit. You earn cash back on literally every purchase you make, from either 1 percent to 5 percent. You can opt to have the cash back on your debit card, but it will incur a cost - for every $20 you can have put on your card from your cash back perk, you'll use $22 perk dollars. Or, and we are absolutely opting for this idea, you can use $20 to get a $20 gift card. You can get gift cards to restaurants, Target, amazon.com, etc.

As one example, we used the PerkStreet debit card to purchase Preston's food from amazon.com. This is where we always purchase his food as he eats a specific brand that is not sold at regular pet stores. We earned 2 percent back on our purchase from his food!

We don't yet use the PerkStreet debit card for everything, but the money we earn back from what we do use it for is adding up over time. We are appreciative that there is a way for us to make a little bit more of the money we have without using credit.

If you want your money to work a little bit harder for you, you should definitely check out perkstreet.com.

1 comment:

Cashback said...

Simple process with lot of benefits..