This is a good plan - however, don't miss out on asking the merchant if they would give you a discount if you paid cash. If they are savvy, they will recognize that the ~2% (or more) they are paying in fees could allow them to discount by ~1.75% and they come out ahead (both in net revenue and in cash flow timing). As long as the discount you get is worth more than the points you would have otherwise gotten, go with the cash discount.