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I just obtained my Discover Platinum card and need a push in the right direction. I would like to start charging everything and then "Foolishly" pay off my balance each month to take advangatge of the 1% cash-back deal.

How has this strategy worked for other Fools?


It works great, but beware the urge to overcharge. Someone on this board asked a while back whether those of us that charge for rebates spent more than we planned. A quick glance at my records showed that I did spend more via VISA more than I'd have spent using cash.

Dining out, custom baseball caps, and gifts are all much easier to purchase when applying the "hey, at 1% back I'm MAKING money" rationalization.

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