When my husband and I first started getting serious, we both had different credit cards. We had quite the time trying to figure out how we would handle finances in the beginning and so we kept things separate.
Eventually, when we were thinking about buying our first house, we realized that in order to make things easier moving forward, we should open up a joint bank account. Because the bank that we chose to use was also attached to my credit card, we decided to get a second card for him to use as well.
We also had his credit card that had a higher limit, which especially when we were purchasing items for our new house, came to be quite useful. What we really liked about this credit card was that it was one of those cash back credit cards where at the end of the year, you receive a cash credit on your bill. The money off of your bill is a percentage of how much you spent on your credit card throughout the year.
We found this particularly useful because come December, our budget is always on the tighter side due to the Christmas holidays and shopping. It is always nice that our bill is lower than we had in our original budget for the month. We consider it an added bonus.
To this day, we still have both credit cards. One in my name and one in his. It is important that we both establish a good credit.
His credit card is our main one because of the extra bonus of getting cash back at the end of the year. One can receive gift cards, discounts and more, but there is nothing better than plain old cash back!
Do you have a credit card? What kind of perks do you receive?
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I have one credit card that I use mostly if I see something online that I really want other then that I try to keep it to a minimum. You have to be extremely careful with credit cards or you can get yourself in trouble lol.
I have a PC mastercard and I find the points add up quickly so I can get free groceries.
Hubby and I both have credit cards, but we make sure to pay them off every month. We get cash back with ours.
Kate – we also make sure to always pay them off every month!
I have a Walmart credit card which I used for my daily purchases — it gives a pretty good cash back value. I also have a BMO card, which I use for larger purchases, and an AMEX, which gives Air Miles rewards. I’m pretty good at paying them off monthly.
I loved when Sears had partnered with Petro Canada. We could buy gas at Petro with our Sears card and collect points with both companies. The rewards added up to fast free gc’s @ Sears. We always pay off out cards each month so it was a great bonus. Now that perk is gone so I just use a cash Back Visa.
Thanks for the great read and tips !