Just to be clear - I am not suggesting that the use of credit cards is a good thing. For many it is the first step down the slippery slope into masses of credit card debt. However, I have found that I can make most of my purchases with the PC Mastercard (Costco doesn't take Mastercard) then go home and pay the bill online the same day. I even pay for my groceries with the PC Mastercard and use it to buy gas (PC gas of course, which is usually 2-3 cents cheaper per litre). President's Choice makes it easy for you to track your spending with online statements that are available for viewing anytime. Paying your balance regularly throughout each month eliminates any interest charges.
Why do I do this? For the points, of course.
Since acquiring the credit card in December I have earned around 60,000 points which equates to $60.00 I can use to purchase more groceries at any Real Canadian Superstore. Also, I have received around $15.00 by keeping my gas receipts, each of which has a barcode for a small % of your gas purchase, which again can be used in the store for groceries or anything else the store offers.
Being the thrifty person I am, I also get the satisfaction of feeling that I'm pulling one over on President's Choice. I know I'm exactly the kind of shopper they don't want, one who responsibly pays off their credit card on a weekly basis. But - they also get most of my business so it's a win-win situation. So far I haven't succumbed to any impulse purchases, none that I'm admitting to anyways, I just think of it as the same as my debit card and not to spend more than I have available in my bank account for shopping. Once that thinking becomes a habit, anyone can rack up the points interest-free!
I plan to save up my points until it gets warm enough to start going to my trailer. Then I'll use the points to fill my fridge for summer eating. Can't wait!