[fabsroman]

Val,

I buy almost everything with credit, but pay those credit cards off every month a week before they are due. The reason I buy everything with credit cards is because I hate carrying around a lot of cash, and I get a ton of rewards by using them.

I was getting 5% back on gas, office supplies, and utilities from one card, but they just sent me a notice that gas will be reduced to 3%. I guess they are losing too much money with gas being so high.

Another card gives me 5% back on groceries and pharmacy.

Another card gives me 3% back on gas, office supplies, home improvement supplies, computers, and restaurants.

Another card gives me 3% back on the 3 most used categories of expenditures out of 15.

All of the cards give me 1% back on everything that doesn't fall within one of the bonus categories. We probably save $1,000 by using the credit cards and it doesn't cost us anything.

By the way, most of the credit companies are changing their agreements because they are trying to make money anywhere they can. I would be willing to bet that they also figure that in a down economy more people will be defaulting on their credit cards and declaring bankruptcy.