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Not only can your rebates go toward future education expenses, they can also be applied directly to outstanding college loans — a nice lifeline for the millions of students who graduate in the red. Nellie Mae's National Student Loan Survey in 2002 revealed the average college student graduates with $18,900 in debt. According to BabyMint, the average member earns about $46 a month. If this money is wisely invested in a 529 Plan or Coverdell Education Savings Account for 18 years, the earnings could grow to more than $22,000 by the time junior is ready for college (assumes an annual return of 8 percent).
Stockback Credit Card: The same company that runs BabyMint offers a credit card that can "reward" your retirement savings. Stockback Credit Card users can receive up to a 20 percent rebate on everyday purchases made at hundreds of merchants in the Stockback network (e.g., Wal-Mart, Blockbuster, Dell, 1-800-Flowers, etc.) which can be directed into an IRA, mutual fund, money market account or a simple savings account. There is no annual fee for this card.
Chase PerfectCard Credit Card: With gasoline prices as expensive as they are, credit cards with a gas rebate reward are ever more appealing. As of Monday, the average retail price of gasoline hovered around $1.87 per gallon. According to an analysis by CardWeb.com, a consumer could save as much as $300 a year on gasoline by choosing to pay with a credit card at the pump. Additionally, Exxon Mobile reports the average American family spends about $1,200 annually on gasoline. The Chase PerfectCard allows consumers to earn a 6 percent rebate on all gasoline purchases at any brand of gas station for the first 90 days, after which you can earn a 3 percent rebate.
