Well, I’ve finally entered the world of cash back credit cards. I’ve always thought they were a good idea, but they never seemed like they were worth the hassle. An extra card to carry around, another bill to pay, something else to organize and keep track of, I don’t know… I just never felt the need, but I was glad they worked for other people.

Then I was getting gas a few weeks ago and I’m just standing there watching our hard earned money go down the drain and there was an ad on the pump for the Costco American Express Business card, which gives 5% cash back on gas. I stood there thinking, “Gee if I had that I would be getting like $3 off just this purchase.” So I grabbed an application. It’s a business card, so I used my Ebay business as my business. Sure I only make about $10 a month, but they don’t ask for a Profit and Loss Statement, you know what I’m sayin’?

I just got my card yesterday and I’m very excited. We budget with a envelope type system in Excel. So we figured out a way to keep track of which category we spent the money from and still keep track of what we have spent on the card. I think it should work out.

As well on 5% cash back on gas, this card also gives back 3% at restaurants, 2% on travel, and 1% on everything else. I figure we should earn about $354 a year just on gas and eating out. So I think it’s worth giving it a shot.

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Pic by: ingriogiro

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