Rewards credit cards?

Question

When you have a rewards or cash back credit card do you need to hold a balance on the card for a certain amount of time before they give you the "points" for that purchase?

for example if i spend 500 on the card and pay it all of the same month will i still recieve the points for that purchase or do i need to wait until the following month to gain the points and then pay off the card?

Answer 1

You got it.  I have a Hawaii credit card that gives us a certain amount of Hawaii miles for every dollar we spend.  We pay it off completely every month.  So we put everything on the credit card; bills, groceries, car payment, entertainment, and others on the card to get the miles.  Then we pay it off.

My father in law also does this and Discover card canceled his credit card because they weren't getting money from him but instead paying it to him.

I have no spending problems or any inabilities with paying credit card bills off completely so I love these rewards cards.