hi..

you made a good illustration on a yearly based cash back returns that card issuer would get when using a Capital One Cash Back card. but, i have been wondering if someone can reach 40 years making use of one particular card. i bet if there is any that the card holder must have fallen in love with the card along the large amount of saving he had kept in his account.

i can't think of myself reaching that long using a particular card but if it can offer the best benefits then i won't be impossible for a person to reach 40 years of loyalty with his credit card.

How a Capital One Cash Back card could earn you $29,340.67 !!

This analysis got me to thinking about if he can actually make money by switching to a cashback credit card.

Let me show you my logic. If you spend an average amount of $2500 per month on groceries and gas you would collect $50 per month in cash back rewards. $50 times 12 months equals $600 per year of cashback collected.

If you invested that $600 per year each and every year, over 40 years at 1% interest by the end of year 40 you would have a total of $29,340.67 saved up. I must state that this is a simple calculation, but it's done for illustration purposes only.

Some people may charge more or less than $2500 per month, I'm using this as an average. You see that the first year you that you saved $600, you would earn six dollars in interest which doesn't seem like a lot, but savings never do at the beginning. It's only impressive when you get to the 40th year and you've made $275 interest.

The beauty of this is it's money that you got from the cash back credit card company from groceries and gas that you spend money on anyways. So at the end of 40 years you have a nice little savings of almost $30,000 cash in the bank.

Check out our cash back credit cards here:
http://www.canadian-money-advisor.ca/capital-one-canada.html

Here's how much you save if you DON'T SWITCH TO a cash back credit card

If you don't use a cash back credit card, then you save $0.00. you get $$$Zero, zilch, nadaa!

Which would you rather have in 40 years $29,340.67 or $0.00

Let me ask you this, how much does it cost to switch to a cash back credit card? It doesn't cost a thing, and you can make yourself close $30,000

Check out our cash back credit cards here:
http://www.canadian-money-advisor.ca/capital-one-canada.html