Quote:
Originally Posted by pyroguy
Silver14, even if you use 5% of 20,000, that’s only $1,000. That’s IF you get 5% back on everything. Most of the time the 5% is on an extremely limited list of things and gets capped for annual earnings long before you max out your spending for the year.
As for extended warranties, that’s a whole other discussion on how big of a rip off they are. 60% of an extended warranty is pure profit. From there they have marketing costs/advertising, commissions, research on what to charge, and other adminstrative fees. On average 10% of the cost of an extended warranty is used for covering the item it is guaranteeing.
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If I have the cash and can get cash back from using a credit card, it's no risk to me. Some people keep the cash saved and use the card for its benefits. Credit card companies make money on most of their customers but not all. You seem to ignore that it's been mentioned several times that each deal requires it's own evaluation. If a place doesn't give a cash discount, if I have the cash to pay for the item, why wouldn't I charge it if I can get the benefits of the card and pay it off without incurring interest and getting cash back?
I didn't mention purchasing an extended warranty, credit cards usually include them for being a member. Here's links if you'd like to see details:
https://usa.visa.com/supporting-info...rotection.html
https://creditcards.usnews.com/artic...rranty-benefit