Friends occasionally ask me to buy stuff for them online. Today, I thought of an interesting question. Am I charging them interest?
All of my credit cards have cash back rewards. Depending on where the purchase is made and with which credit card, the cash back is as high as 5%. Let's say I order something for $100. I'll charge the person I'm buying the item for, $100. Here's the problem though, I'll get $3 back from the credit card, so the actual cost is not $100, but $97. Even worse, Chase Freedom gives you 3% back on top 3 categories for that month and 1% back for the rest. As far as I remember, there's no way to check which purchases are in the top 3.