Everybody gets that miles and points are a great way get free flights and hotels for your vacation, but what about paying for things like scuba diving while you’re in Maui? What about that zip-line you want to ride through the canopy of the rainforest? Are these costs that you are just going to have to be stuck paying for? I try to pay for as little as possible and there are many ways to get these excursions paid for as well. Redeeming your credit card points for cash or statement credits will generally give you far less value than using them for flights and hotels. Typically you will end up with a value of $0.01 per point. Not very good. But sometimes it needs to be done.
One great way to get some extra cash to cover some of these expenses is to take advantage of category bonuses on cards along with cash back websites. I am assuming I am not alone in this but I hate shopping, but when it comes to Christmas I simply cannot avoid shopping completely without ending up in the doghouse!
The Discover More credit card is a great card to hang on to for taking advantage of category bonuses. Discover offers 5% cash back on select types of purchases that rotates quarterly. This quarter they are giving 5% back for purchases made at department stores and online purchases! I hopefully will not have to step foot in a department store, but I know I can get almost all my Christmas presents online and get 5% back via the Discover More card.
This will be even better when used in conjunction with a cash back website like topcashback.com. Unlike other cash back sites, topcashback gives you 100% of the commission they earn for referring you to merchants! For example, right now I could shop at Kohl’s through the topcashback portal and get 10% cash back from them in addition to using my Discover more card and getting 5% back because it is an online purchase for a total of 15%!! Nice!
UPDATE: No longer available