Savvy Budget

Turning in my Frequent Flyer Miles

I just learned I can turn in my FF miles for GC's. I am giving serious thought to turning in my miles for a Target card. I would then use the card to buy all my groceries and gifts for the rest of the year. Well, actually I could probably go though most of next year.

The card would be for $500. I have almost all my gifts covered right now. I also have plenty of food in my pantry. I am steadily working on eating all of that.

The biggest plus would be that I could utilize all my frequent flyer miles, transfer the account to a no annual fee card while maintaining my credit history with the same compnay. My card would still say "member since 95."

I have 79K +. If I charge my rent next month AND pay it off by auto pay. I could order a $500 Target card. I could then change my credit card to a no fee card that gets me reward points. Maybe not a huge deal since I am paying the card off and not charging.

BUT I would have a $500 GC, no fees and still be able to pay off my card and accumulate a few free items.

I just looked and this seems like the way to go. I also called Citi.They cannot tell me if I am eligible nor can the tell me what my APR would be due to updating the servers. phhht, I can call back in the morning.

While I was looking at Citi-Advantage's Diamond preferred card site, I saw several GC's I could use. Sadly, no Wal-mart. That would have been the best choice. I can use that one for food, gifts and gas. They have the better prices around here.

SO, the plan currently is to charge and payoff next month's rent, allow the miles to show up, redeem for $500 Target GC, transfer account to Diamond Preferred and then continue charging and paying off my rent to accumulate more GC's for gas, groceries and gifts. I confirmed each of these.

This would work out great. I can still earn gifts cards for my oldest sister's gifts like I currently do at Mypoints. I could then use Mypoints to earn Wal-Mart cards for my gas and groceries. ooooyeh!
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hmmmmm -Mypoints has a Visa card also. I need to ask if I can transfer my Citi Visa card to Mypoints Visa with the same deal ( keeping same % rate and credit history).
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UHOH- I did a search and it seems Mypoints is acting crazy and not letting anyone have prizes- DAYAUM- well at least I researched that one. It appears, I saved myself a headache .

posted by Casper @ 4:59 PM