Applying credit card for cash back reward

OneEyedDiva

OneEyedDiva

SF VIP
Location
New Jersey
I got a solicitation in my email from Bank of America to open another credit card with similar cash backs as one of my Chase cards (1.5%) and 0% interest for the first 18 months. The latter doesn't matter much since I pay my cards in full each month. But the temptation I could not resist is the $200 bonus cash back reward after spending $1,000 in three months. We can easily reach that figure in a month between my son's expenses and mine (he pays me back by the dates the payments are due). I've gotten other credit card solicitations in the past year and ironically my original BOA card was the only one I applied for (last summer).

I just had to go to each credit monitoring agency and unfreeze my credit for 24 hours since the email said the application would be approved within 30 seconds, which it was. Do you take advantage of these types of offers? If so, when was the last time and what was the deal?
 

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OneEyedDiva said:
I got a solicitation in my email from Bank of America to open another credit card with similar cash backs as one of my Chase cards (1.5%) and 0% interest for the first 18 months. The latter doesn't matter much since I pay my cards in full each month. But the temptation I could not resist is the $200 bonus cash back reward after spending $1,000 in three months. We can easily reach that figure in a month between my son's expenses and mine (he pays me back by the dates the payments are due). I've gotten other credit card solicitations in the past year and ironically my original BOA card was the only one I applied for (last summer).

I just had to go to each credit monitoring agency and unfreeze my credit for 24 hours since the email said the application would be approved within 30 seconds, which it was. Do you take advantage of these types of offers? If so, when was the last time and what was the deal?
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Nope, I already have an American Express and a Visa card, that's enough for me.

The American Express I have had the same card for 43 years, the Visa is newer I got it from Amazon for the $ back.
 

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OneEyedDiva said:
I just had to go to each credit monitoring agency and unfreeze my credit for 24 hours since the email said the application would be approved within 30 seconds, which it was. Do you take advantage of these types of offers? If so, when was the last time and what was the deal?
Click to expand...
This is how my finances work. Into our joint account at the end of each month goes my wife's employment pension, her state pension, my employment pension, my state pension and my wage. Our purchases, everything from provisions to utility bills, are all paid in cash. My wife has one card for internet purchases, but the card has no account like a debit or credit card. I simply put so much money on it and then she can use it until the cash is exhausted.

We never get cold canvas calls, nobody knows us, our spending is zilch because cash is anonymous and we never get into any sort pre-payment, direct debit scheme. UK households have a local tax called the community charge, better known as council tax. It can run into thousands and is based on your property size. We are allowed to make ten payments by whatever arrangement suits us best. Our council tax is paid, in full, when it arrives in March. It's the way that I have always budgeted our finances. We have only been in debt twice. Our first mortgage, which took five years to clear, and our second which took us about the same. As my grandmother often said: "Out of debt, out of danger."
 
Just got 5.03% on a 13 month CD...guess that's a deal. Don't ever open up new credit cards, though. Hub doesn't like it - we just carry the same Discover, MC and Visa we've had for years, but do have the Amazon card - its 5% off everything you purchase on Amazon.
 
We did take the Fidelity offer - open up an account with $50 and they put in $150. We opened up two accounts - all you had to do was leave the money in there for 90 days. Now we need to figure out what etf to buy and add to the $400, lol.
 
I use various credit cards, Chase (Preferred & IHG), American Express and First National Bank of Omaha- FNBO ) accumulating points for hotel stays. Previously had a Barclay Card, but they are a terrible company to do business with. Chase and Amex are the best. With the Chase Preferred Card I can book, hotels, resorts, car rental and airlines. The card is $95 per year but well worth it. Within seconds I have an email that the card has been used. I use the other Chase card - IHG for Holiday Inn and other related Hotels. The card is $49 per year but I also get a free hotel night after paying the annual fee. There is no fee for the Amex card and I accumulate points for stays at any Hilton Property. The FNBO card is also free and I use it to accum points for the Best Western Chain. If you pay all credit cards in full each month, and travel a fair bit, it is a wonderful way to get some free hotel stays and or accumulate points for airlines. We try to pay as many bills as possible with our credit cards, unless the company adds a service charge for the credit card. I am more interested in cards for travel benefits rather than cash back offers.
 
Alligatorob said:
Nope, I already have an American Express and a Visa card, that's enough for me.

The American Express I have had the same card for 43 years, the Visa is newer I got it from Amazon for the $ back.
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hubby always had an American Express Card And A diners Card.....
But always found it a problem to use over in the UK......No body wanted them...
So he soon binned them....
 
No, I've never got the cash back. I pay my credit card off every month. Very rare that I don't.

Now I have things that go on my credit card every month. I also pay my car and renters insurance when it's due on the insurer's web site with my card. But then I pay it off.

This month I'll have an Amazon book order in addition to the regular stuff.
 
Roadwarrior said:
I was spending myself into oblivion. Buying 'stuff' just to make the reward thresholds.
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That's why I avoid it, and of course that's why they do it.

Some might make a game of it, and be successful at it, but I don't have the energy to keep track. If I buy a cup of coffee, I want the transaction to be over and forgotten. I don't want a free cup of coffee after I've bought 10 coffees.

I got a thing from the bank offering money if I deposit savings, and I do deposit savings. But I have to go through some process first, and it isn't worth it to me. I'm retired, and not looking for ways to scrounge $50.

I did fall for Amazon's free shipping if you spend a certain amount. But that too had me buying things I wouldn't otherwise have bought, just to top up the order.
 
I keep my and my husband's credit frozen at all of the credit monitoring agencies. Can't be bothered to unfreeze and refreeze to take advantage of CC offers. They hit the shredder unread, once we identify their purpose.

We have 3 CCs, each gives between 2%-5% back. Most of our bills are paid through them.
 
OneEyedDiva said:
Do you take advantage of these types of offers?
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I haven't in recent years, tho I guess kind of similar thing I did last month was add an authorized user to my Amazon card to get one month of higher % back for shopping in local grocery stores. I was letting my daughter use the card number anyway, so it made sense to add her as a user. Tho the card company annoyed me by sending the card to her but using my name on the address and since I had been using my daughter's address last year while traveling, the post office forwarded the card to my new address. Ugh.
 
OneEyedDiva said:
I got a solicitation in my email from Bank of America to open another credit card with similar cash backs as one of my Chase cards (1.5%) and 0% interest for the first 18 months. The latter doesn't matter much since I pay my cards in full each month. But the temptation I could not resist is the $200 bonus cash back reward after spending $1,000 in three months. We can easily reach that figure in a month between my son's expenses and mine (he pays me back by the dates the payments are due). I've gotten other credit card solicitations in the past year and ironically my original BOA card was the only one I applied for (last summer).

I just had to go to each credit monitoring agency and unfreeze my credit for 24 hours since the email said the application would be approved within 30 seconds, which it was. Do you take advantage of these types of offers? If so, when was the last time and what was the deal?
Click to expand...
Here's my reply to that one-
"Neither a borrower nor a lender be,
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry." Shakespeare
 
charry said:
hubby always had an American Express Card And A diners Card.....
But always found it a problem to use over in the UK......No body wanted them...
So he soon binned them....
Click to expand...
Yeah, I know a lot of folks don't take American Express, they charge the seller higher fees. Can't say as I blame them.

I just keep mine for sentimental reasons, they gave me a card when I was young and poor and no one else would. Probably not the best reason to keep a credit card...
 
OneEyedDiva said:
I got a solicitation in my email from Bank of America to open another credit card with similar cash backs as one of my Chase cards (1.5%) and 0% interest for the first 18 months. The latter doesn't matter much since I pay my cards in full each month. But the temptation I could not resist is the $200 bonus cash back reward after spending $1,000 in three months. We can easily reach that figure in a month between my son's expenses and mine (he pays me back by the dates the payments are due). I've gotten other credit card solicitations in the past year and ironically my original BOA card was the only one I applied for (last summer).

I just had to go to each credit monitoring agency and unfreeze my credit for 24 hours since the email said the application would be approved within 30 seconds, which it was. Do you take advantage of these types of offers? If so, when was the last time and what was the deal?
Click to expand...
I do not but I should. Good for you!
 
Alligatorob said:
Yeah, I know a lot of folks don't take American Express, they charge the seller higher fees. Can't say as I blame them.

I just keep mine for sentimental reasons, they gave me a card when I was young and poor and no one else would. Probably not the best reason to keep a credit card...
Click to expand...
@Alligatorob ......reminds me of our days as poor and helpless LOL ...The one bank that helped us , Im still with , ..Thats what I call loyalty .....
 
i upgraded my chase sapphire preferred to the reserve so i got all my points multiplied by 25% .

then i referred my wife for the sapphire reserve so she got 100,000 points and i got 20,000 for the referral …then we took her100,000 plus points and transferred them to my sapphire reserve where they get a 25% boost .

we got thousands , plus the sapphire reserve paid for my tsa precheck.

so if i am taking another card that is the kind of deal i want
 
OneEyedDiva said:
I got a solicitation in my email from Bank of America to open another credit card with similar cash backs as one of my Chase cards (1.5%) and 0% interest for the first 18 months. The latter doesn't matter much since I pay my cards in full each month. But the temptation I could not resist is the $200 bonus cash back reward after spending $1,000 in three months. We can easily reach that figure in a month between my son's expenses and mine (he pays me back by the dates the payments are due). I've gotten other credit card solicitations in the past year and ironically my original BOA card was the only one I applied for (last summer).

I just had to go to each credit monitoring agency and unfreeze my credit for 24 hours since the email said the application would be approved within 30 seconds, which it was. Do you take advantage of these types of offers? If so, when was the last time and what was the deal?
Click to expand...


yes I have done it 2 times and I always keep a 0 percent card for emergencies are big purchaces like dental so it works out great for us.Will I do it again, yes I will if the opportunity presents itself and I know I can pay off the card in the 15 or 18 months they give to get the 0 percent.
 
the most lucrative deals are the premium cards not the free ones .

we rarely take advantage of the free ones as they are petty in comparison ….

even without much travel we have made out like bandits with the chase sapphire reserve and sapphire preferred.

be careful applying for all these small deals as many card issuers like chase who have these fabulous deals will not open you up if you have opened more than i think 4 or 5 cards in 24 months
 


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