Christmas travel money.

I overheard a conversation yesterday that basically was going over the huge benefit of using a certain Canadian department store credit card to make Christmas purchases. They had a lot of spending coming up in the next month (over $5000) and were happy they were going to get about $100 back in “store credit.”

Maybe get a couple hockey sticks, maybe buy a tire, maybe a new helmet? The opportunities were endless with what that $100 could get you!

cdn tire

This just reminded me of my own situation – I am about to spend a bunch of money with Christmas coming up, but more for the certain expenses we have coming.

If you knew you had to spend $5000 in the next little while would you be OK with getting back about $100 in store credit? That’s 2% back which is actually pretty good!

We go on about Amex because of their generous sign-up bonuses when you get one of their cards – and how you can refer “a friend” for more bonus points.

“But I’m not spending $5000, I’m spending maybe $1000”

Ok, well that gets you $20 in store credit…or $250 in travel…or 2-3 round trip flights.

The point is this is the time of year when you probably use your credit card the most – maybe not – but for many, yes.

Why settle for some small store credit amount? I know the answer.

1) love your store credit card – it’s great getting little bonuses every now and then

2) hate Amex – they are the evil empire

3) meh. why am I even reading this?

It’s what I hear all the time – “I’ll just stick with what I know”

Up until a few years ago I was the same. Meh. free groceries. free hockey stuff every now and then.

Many of my co-workers have jumped on the “travel rewards” bandwagon and read the blogs, get the points, do the research. It’s worth it – it really is.

You need to be good with money. Without a doubt, this is very important. You need to pay of your balances before you pay interest. You need to know your balances. But, if you know you are good with your finances why wouldn’t you take these “generous” sign-up bonuses Amex offers.

Amex Gold Rewards Card. – no fee first year, spend $500(3 months), get 25,500 Amex points.

Amex Business Gold Rewards Card. – no fee first year, spend $5000(3 months), get 45,000 points – when referred.

You may not know what 70,000 Amex points gets you – remember no fee first year.

Well, if you just want travel money that is $700 in travel money.

So…spend about $5500, get $700 in travel money? You are getting about 13% of your money back.

If you put more thought into it and read up on Airline programs (see our pages on Avios and Aeroplan) and transfer those 70,000 points into Avios, you get substantially more value.

Did you know 72,000 points (spend a bit more or refer someone to get 10,000 points) will fly a family of 4 from Detroit to Tampa/Orlando/Ft. Lauderdale/Ft. Myers round trip?

florida

So, what is that worth? I’d give it a value of about $1200-$1600.

These are truly great bonuses they offer, if you just have a little spending to do try the Gold Rewards Card and start racking up the points!

goldcard ad

You don’t need to go through our link, you can go straight to their site and sign up as well.

It starts with the Amex Gold Rewards Card. The Business card is the 3rd one down.

You can also see our Amex page for more.

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