[g0077b]

...should i get 1 with mortgage rebates? I been using my Citi master-card with miles for many years now and accumulated enough to get 4 air line tickets to Dominican Republic. i get 1 mile for every dollar spent. recently i got an offer from my mortgage company stating that if i apply for their credit card, for every dollar spent, i would get 1% cash reward toward my principle of my house. my question is, which is more beneficial for me, to keep my miles card or get a new one with my mortgage bank. i usually spend about 4K monthly on my card. btw, the 4 airline tickets i got would have cost me $1600. thank you in advance

[denissnowy]

Long term the best plan would be mortgage option. I have no idea what mortgage interest rate you are paying, but lets pretend you have 5% 20 years. If you paid off $1000 extra in year 1 you would save $1500 in interest over the remaining term. The gain you get is less apparent but lasts longer than the 2 weeks in the sun.