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the clerk at my local CVS or Stop and Shop doesn't know if my CC is rewards or not, and that includes the CEO and all the exec. If I use a Chase or AMEX card, how do the biggies know if I signed up for a rewards program? Maybe just the CC companies keep track, but not merchants!

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Someone help. I tried to buy a Master, Visa or AMEX prepaid or gift card and all 4 of my chain supermarkets only sell cards up to 100.00. So when if I use my 6% CB AMEX card with the fee there is no benefit. I did buy an AMEX prepaid card this Am at CVS for a fee of 4.95 and put 500.00 on it and used my Chase card for the 5% category. But basically it's not a big money maker. 500.00 @5% =25.00 - the 4.95 fee. Any better way? I did use the card at Firestone for some work. Trying to find gift cards to use in stores that have no CB categories on my other cards. I guess 20.00 is better then 5.00. Where do you buy big prepaid cards with a low fee? Thanks all. I don't want a reload card, too complicated, I want to make it an easy operation. I saw the Vanilla relaod card but forgot my glasses so couldn't read all the fine print, but it seems to involve banks!!

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barrytuneup said:   500.00 @5% =25.00 - the 4.95 fee. ... I guess 20.00 is better then 5.00.

If you have a 2% all-purpose card, then you have to deduct $10 (2% of $500) from your $20 profit.

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barrytuneup said:   Someone help. I tried to buy a Master, Visa or AMEX prepaid or gift card and all 4 of my chain supermarkets only sell cards up to 100.00. So when if I use my 6% CB AMEX card with the fee there is no benefit. I did buy an AMEX prepaid card this Am at CVS for a fee of 4.95 and put 500.00 on it and used my Chase card for the 5% category. But basically it's not a big money maker. 500.00 @5% =25.00 - the 4.95 fee. Any better way? I did use the card at Firestone for some work. Trying to find gift cards to use in stores that have no CB categories on my other cards. I guess 20.00 is better then 5.00. Where do you buy big prepaid cards with a low fee? Thanks all. I don't want a reload card, too complicated, I want to make it an easy operation. I saw the Vanilla relaod card but forgot my glasses so couldn't read all the fine print, but it seems to involve banks!!

Even with what you did at CVS this morning, you essentially turned the AMEX prepaid into a 4.06% Cash Back card. That's about the best you're gonna do for a CB "everywhere" opportunity, unless you get into CC churn and the mileage game. There's nobody that sells prepaid cards with values greater than $500.

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N/M

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Did anyone hear that a new credit card rule from the Feds takes effect today? Something about a merchant can charge a CC fee up to 4% for each transaction? I heard this this Am on 2 NYC radio station--1010WINS and newsradio88. (both all news stations) They also said it is effective in 40 states and it excluded NYState and CT. I live in NYState opposite Danbury CT so I wouldn't be affected. If this is true, then all the CC bonuses and rewards in 40 states would be moot.Hopefully I am wrong. Trying to research it now. Thoughts?

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http://business.time.com/2013/01/25/a-4-surcharge-for-using-a-cr... this article also mentions rewards and that CC uses spend more then cash customers.

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I buy Apple products regularly. Which card(s) do you recommend to maximize the rewards?

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4RainyDays said:   I buy Apple products regularly. Which card(s) do you recommend to maximize the rewards?

Citi Forward counts Apple Store purchases as "music" so you get 5x rewards points. It also covers up to $250 in damages(if unusable)/lost/stolen with a $50 deductible if you pay your cell phone bill with the Forward card. If you purchase your apple products on Amazon then you also get 5x points as well though I usually use my most robust purchase protection card for major purchases.

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I would greatly appreciate some help on finding a card to purchase upcoming travel to Hawaii and I'm expecting to spend at least $6K for the whole family. I don't really travel often so I prefer a CB rewards card.

I would like a card that has 0% Apr for at least 12months or more and a good bonus points. It would be even better if the card is a CB reward card that I can use on a daily basis. Oh and no annual fee

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cnaypi said:   I would greatly appreciate some help on finding a card to purchase upcoming travel to Hawaii and I'm expecting to spend at least $6K for the whole family. I don't really travel often so I prefer a CB rewards card.

I would like a card that has 0% Apr for at least 12months or more and a good bonus points. It would be even better if the card is a CB reward card that I can use on a daily basis. Oh and no annual fee


If you live near a US Bank branch, you could try to get a Cash+ card and set Airlines and Hotels as your 5% categories. Penfed Travel Rewards AMEX gives 5% on airfare. Chase Sapphire gives 2x on travel. None of these offer a 0% intro APR though, and I don't think there are any other cards that have bonuses for travel purchases and pay rewards in cash. If you are not trying to maximize CB on travel, you should probably explain more about your spending patterns so we an recommend the best card.

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Hi guys, I pay $1,250 to the owner for rent every month. Is there any cash-back credit card that will not charge the owner transaction fee? Kind of Win-Win?

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Doesn't Win-Win require the owner to get something extra? Maybe see if he'll take $1300 in Visa gift cards.

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I was preapproved for an Alliant CU card with a 100$ starting bonus. This is just a soft hit correct? Any reason why I might not want to accept?

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princesspool said:   I was preapproved for an Alliant CU card with a 100$ starting bonus. This is just a soft hit correct? Any reason why I might not want to accept?

They recently offered 20,000 points for $1,000 in purchases in 90 days -- as well as 0% for BTs and purchases for 12 months (with no BT fee). This offer is just 10,000 points for $500 in purchases. So, it's not their best offer.

Also, while the offer was a soft inquiry, there will be a hard inquiry with your application. Alliant checks Equifax.

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Thanks, stanolshefski. Was that previous offer targeted?

I already have an ACU checking / savings account, so there wouldn't be a hard inquiry- right?

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Actually, if you have a 2% card, and spend 2% more, you aren't completely negating the effect of the card.

$100 Spend = $2 CB

2% more spending...

$102 Spend = $104.04 CB

You still make out with 4cents, or .04% ..

Argyll said:   imbatman said:   I wonder if I can get a PhD in socioeconomics by researching that.

eh. I'd rather spend my time doing things that make money.


I've seen quite a number of studies that show the majority of people who use rewards cards spend more than they would otherwise. Even those who believe they are being frugal do it, unconsciously. If you have a 2% card and you spend 2% more because you believe you are saving, then you have completely negated the effect of the card.

Credit card companies know this, which is why they offer rewards in the first place.

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Not if you're buying 2% more cash.

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princesspool said:   Thanks, stanolshefski. Was that previous offer targeted?

I already have an ACU checking / savings account, so there wouldn't be a hard inquiry- right?


Wrong. An actual app is a hard hit in 99% of the cases. If you wish you could try to apply over the phone and ask the question before you proceed.

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Sesq said:   princesspool said:   Thanks, stanolshefski. Was that previous offer targeted?

I already have an ACU checking / savings account, so there wouldn't be a hard inquiry- right?


Wrong. An actual app is a hard hit in 99% of the cases. If you wish you could try to apply over the phone and ask the question before you proceed.


Alliant CU was the 1% exception for me in this case. I saw no hard pull when I got approved for the Visa last year, after having opened a checking account with them about 1 month prior.

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dl73 said:   Sesq said:   princesspool said:   Thanks, stanolshefski. Was that previous offer targeted?

I already have an ACU checking / savings account, so there wouldn't be a hard inquiry- right?


Wrong. An actual app is a hard hit in 99% of the cases. If you wish you could try to apply over the phone and ask the question before you proceed.


Alliant CU was the 1% exception for me in this case. I saw no hard pull when I got approved for the Visa last year, after having opened a checking account with them about 1 month prior.


I did get an hard inquiry on Equifax.

ETA: It's possible that Alliant used dl73's credit pull from the checking/savings account opening.

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stanolshefski said:   dl73 said:   

ETA: It's possible that Alliant used dl73's credit pull from the checking/savings account opening.


Most of the institutions I've dealt with keep a credit report as valid for thirty days.

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I'm a landlord, how would you folks suggest reporting "income" and "expenses" on a credit card application to avoid being flagged?

I own 3 properties. I live in 1, own it free and clear. I rent out the other two, and pay mortgages on them. My credit report shows two mortgages with $3400 monthly payments, at properties I don't live at.

I used these numbers for a credit card application recently, and was surprised to be declined (official reason was a low credit score (TU 663), but I suspect my numbers gave their algorithm generator some indigestion).
* income, ~$70K
* monthly housing expenses ~$150
* source of income: self-employed
* employer: self, property manager

My questions --
* Should I report my monthly housing expense to be one of the mortgage payments, (i.e. $1100) so it doesn't get flagged as being unrealistically low?
* What's the best way to report myself as being self-employed, and a property manager? The options are "self employed," "consultant," or "other."
* What's the best way to report my job description, like "self, property manager" or "self, landlord"?

Thanks in advance,
MP

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I think you're reading too much into the info you provide. I'd guess that it was indeed your low score.

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moneypyts said:   I'm a landlord, how would you folks suggest reporting "income" and "expenses" on a credit card application to avoid being flagged?

I own 3 properties. I live in 1, own it free and clear. I rent out the other two, and pay mortgages on them. My credit report shows two mortgages with $3400 monthly payments, at properties I don't live at.

I used these numbers for a credit card application recently, and was surprised to be declined (official reason was a low credit score (TU 663), but I suspect my numbers gave their algorithm generator some indigestion).
* income, ~$70K
* monthly housing expenses ~$150
* source of income: self-employed
* employer: self, property manager

My questions --
* Should I report my monthly housing expense to be one of the mortgage payments, (i.e. $1100) so it doesn't get flagged as being unrealistically low?
* What's the best way to report myself as being self-employed, and a property manager? The options are "self employed," "consultant," or "other."
* What's the best way to report my job description, like "self, property manager" or "self, landlord"?

Thanks in advance,
MP


What about your income from the rental properties? Is that $3400 each for the mortgage payments? So you must be making a lot more than that?

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We are starting home renovations and I'd like to get a new card. We will probably spend $60k in the next 3 months. I like the flexibility of Cash Back. Is hardware/home improvement stores a bonus category on any cards?

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Pretty sure I read about this previously, but ...

I want to apply for both Barclay's NFL and AMEX Blue Sky today. Does it matter which order I apply? I thought I read that Barclay's is more sensitive to credit inquiries than AMEX (or maybe I have that backwards).

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flyingdiver said:   We are starting home renovations and I'd like to get a new card. We will probably spend $60k in the next 3 months. I like the flexibility of Cash Back. Is hardware/home improvement stores a bonus category on any cards?

US Bank 5/2/1 card lets you pick home improvement as a 5% category.
Examples include Lowe's, Home Depot, Menards and Ace Hardware.

Earn Cash Back on all your home-repair purchases, including paint, tools, garden supplies, construction materials and home décor.

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NoMoneyInMyWallet said:   Pretty sure I read about this previously, but ...

I want to apply for both Barclay's NFL and AMEX Blue Sky today. Does it matter which order I apply? I thought I read that Barclay's is more sensitive to credit inquiries than AMEX (or maybe I have that backwards).

apply the same day, order shouldn't matter. If you don't have a lot of recent inquiries, neither will care.

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imbatman,

I applied and got a SW plus card back in May or June last year.

I used AP to spend the 1k and then once miles were credited to my RR i closed the account like the next week or 2 after (which was probably a bad move) and they refunded the annual fee. this was all within the 1st billing cycle, in case that matters.

Now i want to apply for another SW card because i need to travel later this year.

I currently have a United card that I already paid off after spending the 1k and then another long standing Chase Slate card with no balance that I've had for a few years.

Can you recommend what I should do in order to get another SW (or even another United) card? and how soon? i am open to trying for a Delta but dunno if 30k miles will be enough so i'd prefer a 50+k mile card offer.

thanks in advance

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You can apply now for one of the SW cards you haven't had before (premier and plus personal or business). You may need to call reconsideration but it should be fine.
Why not apply for both SW and delta cards?

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We will doing a road trip in March around 5500 mile in total and will be spending some money on motels/hotels. I have discover card and recently applied for Barclays... Is there a way I can get more rewards and some money with another card? Should I get separate cards for gas and Hotels?

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imbatman said:   You can apply now for one of the SW cards you haven't had before (premier and plus personal or business). You may need to call reconsideration but it should be fine.
Why not apply for both SW and delta cards?


I am trying to buy my 1st house this year (already have a pre-approval letter) so i'm thinking adding 1 card might be okay, but wasn't sure about adding 2...

thoughts on that angle?

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>What about your income from the rental properties? Is that $3400 each for the mortgage payments? So you must be making a lot more than that?<

Rental properties take in about $6K/month, mortgage expenses combined are $3.4K.

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Not sure if this is the right place to put this:

2 months ago I got the FIA 2% Cash Back card (AMEX) I had to call them up and get approved. I was approved with a $500 CL today I requested a $5k limit and was approved instantly over the phone.

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Information about $250 bonus for PenFed Platinum Rewards is outdated; removed from quick summary.

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I have had a capital one credit card for a year now with a CL of $7.5k. Since ING bank was bought by Cap1, and I have a large savings bank balance, I made a phone request for a credit line increase. I was denied. I received an on-line explanation:
"This Capital One account is not currently eligible for a credit line increase upon request. We're
reviewing our policy for increasing credit limits. While we do this, we won't be able to offer you
more credit."
The document also states that they used my credit score to arrive at this decision. My credit score was listed as 813 (with a range of 300-850 for Equifax.

Can anyone clarify what has been your experience with Capital one. My capital one 360 account has a balance of more than 12 times my current Capital 1 Credit Card Limit. So I am perplexed. Do you think I should move my money to Barclays (which pays 1% in savings) and apply for a card with them?

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upnorth85 said:   I have had a capital one credit card for a year now with a CL of $7.5k. Since ING bank was bought by Cap1, and I have a large savings bank balance, I made a phone request for a credit line increase. I was denied. I received an on-line explanation:
"This Capital One account is not currently eligible for a credit line increase upon request. We're
reviewing our policy for increasing credit limits. While we do this, we won't be able to offer you
more credit."
The document also states that they used my credit score to arrive at this decision. My credit score was listed as 813 (with a range of 300-850 for Equifax.

Can anyone clarify what has been your experience with Capital one. My capital one 360 account has a balance of more than 12 times my current Capital 1 Credit Card Limit. So I am perplexed. Do you think I should move my money to Barclays (which pays 1% in savings) and apply for a card with them?


Assuming your credit score is FICO and you don't have a negative item on your credit profile, you should be approved for almost any credit card even without a banking relationship.

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