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Topics: Mortgages |
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| Mortgage Back Rewards Credit Cards |
Submitted by:
Tamara From Michigan 12/20/2008 6:45 AM
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| I have a credit card with my home mortgage company and I earn points that goes towards paying down my principle on my mortgage. I earn $50 on every 2500 points. I have all my bills pre paid with my visa card and I try only to spend on my visa to earn more points, such as groceries, gas, and of course holiday gift shopping. It really adds up. I usually earn my 2500 points at least every two months, which come out to be $300-$400 a year, but then you also have to consider the paydown calculations on the life time of the loan to really see what your saving. Plus I write fewer checks to individual bill companies(time saver) and I use fewer stamps. I ALWAYS pay the whole balance off every month. Your paying out the money every month anyways so why not work it to your advantage? |
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