Choosing the Right Credit Card

This is something I often don’t hear mentioned in the same sentence as domaining, but when you think about it, doesn’t it make a whole lot of cents [sic] ?

I spent almost $50,000 on domain names last year.. With a cashback/rewards card, that’s potentially a whole whack of cash back in your pocket! I get 1% cashback on each and every purchase I make on my credit card. Provided you pay off your card each month, that’s essentially the same thing as receiving 1% off each and every purchase you make. Reward cards typically aren’t as good. Air miles, in example, are worth approximately 12 cents per, so if you could find a deal of 1 Air Mile per $8 or less, you’d be better off with that. The best cards I’ve seen with Air Miles are typically around $10 = 1, with $20 = 1 being far more common. Many of these cards have a small annual fee, but they’re worth it!

 I pay $35 per year for the privilege of receiving 1% cashback — so if you were planning on spending more than $3500 per year on this card, it’d be a good decision to pay that little bit extra for the cashback option. In my case, I ended up making about $450 profit last year from my bank by doing this. Some cards pay as much as 5%+ cashback for a limited period of time.. Take advantage of that time to increase your LLLL.com collection. To put it in perspective — a $200 LLLL.com would now only cost you $190. You could resell it for $200 and bank a $10 profit on the spot.

A good resource for comparing credit cards is: www.creditcards.com . Even if you don’t qualify based on location, income, etc, I highly recommend checking it out.

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~ by Reece on January 15, 2008.

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