Credit Cards are Making Me Rich

Back in the beginning of April, I wrote about the new credit card that I applied for in the post A New Credit Card in the Mail. People must have been thinking that I was crazy to apply for a card with a $75 annual fee. Two months later, let me give you an update because I confirmed that I made the right choice.

In 3 months of using this card(my membership started on March 12), I accumulated 54,082 thank you points. That roughly equates to $540 dollars if I take the gas rebates (just as good as cash) or probably even more if I use these points for air travel. Let me give you some more details because I did not spend $54,082 dollars in 3 months. Check out the break down below: First month of 17,726 points came from $2,726 of spending plus 15,000 bonus points for signing up. Second month of 9,754 points came from $5,452 of spending (do not shoot me, 98% of my credit card expenses are for business trips) and 4,302 flight points. These flight points (the reason I joined) equates to flying 4,302 miles the month earlier.

Third month is the interesting month with 26,602 points. Here’s a screen shot from the online account itself:

As you can see, I was on an airplane for 26,966 miles in the month of May! For those that are curious, one of my business trips consisted of flying from Los Angeles to Japan and Japan to Los Angeles. Of those 26,966 miles, I was able to earn 22,762 points (I’m not sure why 22,762 and not the full amount since I’m not at the limit of 120,000 flight points per year yet). Add another $3840 worth of spending and you get the 26,602 points.

I am happy because after the $75 I spent on the annual fee, I have about $470 or so to spend on something like gas just because I switched to this credit card. This is compared with my previous 1% cash back card that would’ve given me $108 since I used about $10868 on my credit card in the last three months.

Tagged as: Credit Cards

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