|
Oldsrocket_27 posted:I'm looking at getting out of Wells Fargo and I have a credit card with them. I've got everything ready for the checking and savings accounts save a meeting with a local banker and actually moving the money to my new bank prior to said meeting. My assumption is that I won't be able to move my Wells Fargo rewards card to another bank, but on the off chance that it is possible, how would a person do such a thing? Alternatively, how much of a pain would it be to keep nothing but the card at Wells, set up a recurring expense on the card, and set up a recurring payment from a separate bank? Would it be worth the trouble or would I be better off closing it and getting a new card? I don't have any major purchases planned soon, nearest thing we're looking at is maybe a car in 1-2 years. You can either just keep the card open with Wells Fargo and pay the bill via a transfer from your new bank, or you can close your Wells Fargo card and open up a new card with your new bank. Which is really what you're doing with your checking and savings as well. You aren't actually transferring your existing accounts to the new bank, - you're closing your Wells Fargo accounts and opening up new ones with your new bank. It isn't a hassle to keep the Wells Fargo card open if you want to, it's all just an online payment. I have credit cards with Citi but no bank account with them. And while I have a small checking account with Chase now that I opened to get a bonus, I had credit cards with them for years before I had any type of checking or savings relationship with them. That said, in your case it seems like it'd be easier if you just all had everything together in one place so it wouldn't be a bad idea just to close the WF one and get a new card with your new bank if they offer a similar rewards card, especially if they have any type of sign up bonus. Edit: You also could leave the Wells Fargo card open and additionally open up a second card with your new bank or any other bank. If you're 1-2 years away from purchasing a new car one or two credit dings aren't going to matter as long as you're staying current on paying the bill for anything you open. Really just consider credit cards to be totally separate from your checking/savings and don't limit yourself to only getting a card from the bank you do your checking at. You don't have to go all in on churning or opening up 20 different rewards cards, if you don't want to mess around with multiple cards for different categories to min/max rewards as a hobby just find a good 2% cash back card and run with it. Even though this thread is like 8 years old the first post is still kept up to date by the OP and is worth taking a look at. Thoguh fucked around with this message at 21:39 on Aug 16, 2022 |
#
?
Aug 16, 2022 21:17
|
|
|
|
| # ? May 17, 2024 17:22 |
|
|
product change sure is nice
palindrome fucked around with this message at 09:09 on Aug 18, 2022 |
|
#
?
Aug 16, 2022 21:59
|
|
|
Thanks for the quick replies. My "moving the card" comment was the foolish hope that I could keep the same card but have nothing to do with Wells to have my cake and eat it too, both keeping my credit pristine but also getting out of my bank completely. Realistically I should probably just close the card and open a new one with decent enough rewards and move on with my life. The new bank offers a comparable (honestly a little better) card, but it's through American Express for as much as that matters where businesses not accepting them is concerned. If I'm making an online payment to another financial institution anyway, then I get to decide whether keeping an old card or getting better rewards is worth more to me. Unless I'm missing something it looks like getting better rewards would be better in that case.
|
|
#
?
Aug 16, 2022 22:00
|
|
|
There's American Express the bank and American Express the payment network. If the new bank's credit card is the New Bank Flagship Whatever American Express, then it's a card issued by the bank that just runs on the Amex payment network. You wouldn't actually be paying a different financial institution (American Express the bank) when you paid the bill. Not that any of this matters. I'd get the new card and keep the old card as a backup for places that don't take American Express. Alternatively, get the new bank's American Express and get another new card that's a Visa or MC from a third bank as a backup. Then keep the Wells Fargo card or cancel it, whatever you want. It's not going to ruin your credit, so long as the new card has a satisfactory credit limit.
|
|
#
?
Aug 17, 2022 03:43
|
|
|
Oldsrocket_27 posted:Thanks for the quick replies. My "moving the card" comment was the foolish hope that I could keep the same card but have nothing to do with Wells to have my cake and eat it too, both keeping my credit pristine but also getting out of my bank completely. Realistically I should probably just close the card and open a new one with decent enough rewards and move on with my life. The new bank offers a comparable (honestly a little better) card, but it's through American Express for as much as that matters where businesses not accepting them is concerned. Depending on what your credit history looks like, don’t cancel the Wells Fargo card. Average length of account can be a big factor in your score.
|
|
#
?
Aug 17, 2022 04:59
|
|
|
mightygerm posted:Depending on what your credit history looks like, don’t cancel the Wells Fargo card. Average length of account can be a big factor in your score. Seconding this. Keep the old card just in case.
|
|
#
?
Aug 17, 2022 05:22
|
|
|
Old card has some annual fee though, right? Cancel it if you're not going to use it but after you get your new one(s).
|
|
#
?
Aug 17, 2022 12:52
|
|
|
Due to daycare prices increasing a ton and other factors, we have some credit card debt I want to consolidate so we can avoid paying interest on it for a year while paying the cards down. We already have chase (sapphire and freedom), amex (blue cash preferred) and citi (costco) cards. The total debt is under 10k. Questions: -any card that is recommended for consolidating credit card debt and avoiding paying interest on it for a year? -Can one person (we're married) open one card and put balance in it from a card not in their own name? Or do I have to open one and my wife another one?
|
|
#
?
Aug 17, 2022 20:28
|
|
|
SamDabbers posted:Alliant Credit Union offers a Visa Platinum with 0% APR for 12 months (2% fee) on balance transfers if you're not opposed to joining an online credit union. Quoting myself from the previous page, since it's relevant to your question.
|
|
#
?
Aug 17, 2022 21:16
|
|
|
redreader posted:Due to daycare prices increasing a ton and other factors, we have some credit card debt I want to consolidate so we can avoid paying interest on it for a year while paying the cards down. We already have chase (sapphire and freedom), amex (blue cash preferred) and citi (costco) cards. The total debt is under 10k. Citi is shoving balance transfer offers down my throat and has generally accepted good cards. They'll just dump the cash into your checking account and you can pay whatever credit card you want.
|
|
#
?
Aug 18, 2022 02:39
|
|
|
Go to one of the 10,000 credit card review sites/ affiliate link farms and look at their listicles for balance transfer offers imo
|
|
#
?
Aug 18, 2022 04:58
|
|
|
First Tech Fed - 10K minimum credit limit - Always $0 transfer fee - you can literally deposit the money into a checking account and spend it as cash* - 12-month intro 0% APR - Solid Credit Union that routinely offers me 3% APR promos** *may no longer be the case, but I can 99% guarantee they don't care who's debt they're potentially collecting interest on. ** I'm generally willing to take a 3% loan and float about $15K constantly because I make more than that using the money, I also have the money to pay it off anytime if I can't find the next offer to daisy chain. 3% APR is better than a 3% fee because the effective rate decreases as you pay your balance down, so their follow-up retention offers are still better than most CC intro rates+fees. Remember, they never have a balance transfer fee. CubicalSucrose posted:Old card has some annual fee though, right? Cancel it if you're not going to use it but after you get your new one(s). Product change to a no-fee card. You'll keep your total history in most cases and then you can just sock drawer it. Girbot fucked around with this message at 06:00 on Aug 18, 2022 |
|
#
?
Aug 18, 2022 05:57
|
|
|
My partner recently got a letter from A+ Federal Credit Union about the A+ Max Cash Preferred card, which offers 5% cashback on two categories including utilities, cell phone bills, and TV/Internet/streaming. The letter said it was an exclusive offer since she has an account with A+ but as far as I can tell, I can apply for the same card from a link on their site. I'm looking at either that or the US Bank Cash+ card, which is similar, and have a couple of questions: 1) Both cards mention in the fine print that the categories are subject to change; does anyone have experience with whether/how often they actually do? The idea would be to use it as a dedicated utilities/Internet card. 2) I picked up the Citi Custom Cash card earlier this month. Should I have any concerns about applying for another card so soon?
|
|
#
?
Aug 21, 2022 03:58
|
|
|
The issuers will sometimes change the categories that you can pick from. They did this with the USBank Cash+ at some point and got rid of some of the awesome categories (I think at some point they were giving 5% cash back on airfare or something) and replaced them with crappy categories. That was a year or two ago. I dunno how often they do this, for the Cash+ it was maybe a few years after the card was introduced and most likely they got rid of the best ones because they were too good, and they were giving out more money than they wanted to. It's not something you should really plan for in my opinion, just ride the best rewards offers until they stop being offered then move onto the next one. Applying for a bunch of cards back to back doesn't matter. It might ding your credit score a couple points for a few months, but that affects absolutely nothing unless you happen to be applying for a mortgage or another big loan right now and that couple of points is enough to affect your offered interest rate. Also, Chase has this policy where they won't give new cards to people who have already opened 5 cards in the past 24 months, but if you're not churning cards that doesn't matter either.
|
|
#
?
Aug 22, 2022 00:32
|
|
|
 gently caress you, Synchrony. Don't loving put $600 on the 12 equal payments line that should only have $240 applied to it, but then only put 2 loving dollars on the deferred interest item that's expiring soon. You know exactly what you're doing.
|
|
#
?
Aug 23, 2022 14:36
|
|
|
KillHour posted:
The terms should indicate how payments are applied to balances due. Did this not follow the way it's outlined in their terms? You should generally assume they are designed to screw the customer as much as possible. It's also generally not a good idea to mix new charges with 0% promos like that if you have even a remote fear that you can't pay everything off, at which point you should probably not be worried about credit card rewards.
|
|
#
?
Aug 23, 2022 17:49
|
|
|
astral posted:The terms should indicate how payments are applied to balances due. Did this not follow the way it's outlined in their terms? I can pay everything off, it's just that what they do is they apply the money in an order that is intentionally designed to gently caress you over. It's not even the regular charges that matter (since I pay those off fully every month), it's the "6/12 equal payments" promotion that screws you, because they apply extra to those before they apply them to the deferred interest. As an extreme example, if you have $5 left on a deferred interest payment that expires this month and $5000 in a 12 month equal payments purchase that you just bought, the only way to pay that $5 off so you don't get hit with the deferred interest is to either pay the entire $5k upfront (+$5) so you don't get to take advantage of the equal payments at all, or you have to call and tell them what to apply to each line. I ended up calling and fully paying off everything except the equal payments and I'm going to stop using the card. In contrast, paypal does this correctly, in that it always applies your payments first to regular purchases and then to deferred interest balances, always oldest to newest (and they don't have the equal payments option at all). Edit: There are options to change how balances are applied, but what they don't do is give you the option to pay the minimum on the equal payments before the rest is allocated.  To use this optimally, what you should actually do is pay the minimum, except in the two months before your promotional balance is up, where you should pay the entire thing at once. This is a huge pain in the rear end and not how normal people finance things, though. TL;DR: Equal payments options exist to gently caress you over and you shouldn't do them. You especially shouldn't combine them with more traditional deferred-interest financing. KillHour fucked around with this message at 18:12 on Aug 23, 2022 |
|
#
?
Aug 23, 2022 18:01
|
|
|
KillHour posted:To use this optimally, what you should actually do is pay the minimum, except in the two months before your promotional balance is up, where you should pay the entire thing at once. This is a huge pain in the rear end and not how normal people finance things, though. This is exactly why these things exist, and exactly why I will never, ever mix any such charges on a card. If I'm using a card for any promotional financing of any kind (aka the only reason I'll ever carry a balance at all), I won't put a single transaction on it that's outside of the one promotion I'm using it for. And then, yes, I do exactly what you mention - I pay the minimum every month until the month before the deferred interest ends, and then I pay it off in full, and then I stash that card away for the next time I need to buy tires.
|
|
#
?
Aug 23, 2022 19:47
|
|
|
The dumb thing is I also have a chase Amazon visa that gives me the same cash back and I don't use it for ~reasons~
|
|
#
?
Aug 23, 2022 21:04
|
|
|
i'm a bit confused. so you have 2 0% down promos and the part of the payment that was deferred they were not bothering to pay down so you'd owe them way more once the promo ended? the one highlighted started in april so the bill came after 8/19 right? which would mean they should have started to pay down that part of your account first? am i getting that right?
|
|
#
?
Aug 24, 2022 02:00
|
|
|
Strong Sauce posted:i'm a bit confused. Deferring interest is seen by Synchrony as their riskiest loan/promotion/leverage, because it is. Default allocation for Synchrony appears to be to pay the standard balance, then the minimum 1% (or fixed payment) on every type of promotion, and then further pay off the non-deferred interest promotions. It's also "deferred" interest. Meaning it's building in the background and you're only absolved the responsibility to pay it if you finish paying off the balance during the terms. So yeah, the default makes sense for Synchrony. The number they're not overtly showing you and you're not thinking about is going up more with a higher balance. Girbot fucked around with this message at 04:41 on Aug 24, 2022 |
|
#
?
Aug 24, 2022 04:34
|
|
|
So Chase 5% category is paypal for Q4, with out the Paypal Key I'm not sure how I'm supposed to do that. I have a bi-annual 600 car insurance payment, and some other large CC expenses, I'd like to get them on the 5% but I'm not sure how to manage that.
|
|
#
?
Sep 15, 2022 22:41
|
|
|
Super-NintendoUser posted:So Chase 5% category is paypal for Q4, with out the Paypal Key I'm not sure how I'm supposed to do that. I have a bi-annual 600 car insurance payment, and some other large CC expenses, I'd like to get them on the 5% but I'm not sure how to manage that. And Walmart.
|
|
#
?
Sep 16, 2022 04:43
|
|
|
Small White Dragon posted:And Walmart. Eh, I don't live near a Walmart so I can't really leverage that category. Super-NintendoUser fucked around with this message at 13:52 on Sep 16, 2022 |
|
#
?
Sep 16, 2022 13:44
|
|
|
Super-NintendoUser posted:So Chase 5% category is paypal for Q4, with out the Paypal Key I'm not sure how I'm supposed to do that. I have a bi-annual 600 car insurance payment, and some other large CC expenses, I'd like to get them on the 5% but I'm not sure how to manage that. There are a few auto insurers that accept Paypal, not sure if yours is one of them but it's probably worth asking. Otherwise I don't think there's a way to run non-purchase spend through Paypal anymore.
|
|
#
?
Sep 16, 2022 13:53
|
|
|
saintonan posted:There are a few auto insurers that accept Paypal, not sure if yours is one of them but it's probably worth asking. Otherwise I don't think there's a way to run non-purchase spend through Paypal anymore. I have travelers, I checked and they don't take it. I'll try to keep an eye on online purchases to see if I can use paypal, but I really miss the days of Paypal Key.
|
|
#
?
Sep 16, 2022 14:15
|
|
|
Looks like Progressive accepts PayPal
|
|
#
?
Sep 16, 2022 15:15
|
|
|
I'd buy gift cards on Fluz. Or you could load up your Amazon balance.
|
|
#
?
Sep 16, 2022 22:48
|
|
|
So I just got a job offer in Switzerland, and will be moving there in a few months. Does anyone have any insight on where to start and what cards I should look at? I'll be in Geneva, so I'd ideally like no forex or foreign transaction fees (or at least none in EUR). My current slate here in the states is Amex Plat/Gold/Blue Business Plus, but I think I will be getting rid of the gold. I also have a chase sapphire reserve for rental cars and for when places don't take Amex, and if I get a Swiss Visa/Maestro I'm down to drop that too.
|
|
#
?
Sep 18, 2022 14:03
|
|
|
Wait, so you have an Amex gold AND platinum AND a CSR? Why?
|
|
#
?
Sep 18, 2022 14:23
|
|
|
I have a gold and csr, but yeah that platinum is redundant and needless waste of fees.
|
|
#
?
Sep 18, 2022 14:27
|
|
|
I've only had the platinum a year, got it for the 100k sign-up bonus. Not wedded to it, but lounge access is worth a not insignificant amount with how much I'll travel.
|
|
#
?
Sep 18, 2022 16:59
|
|
|
JohnCompany posted:I've only had the platinum a year, got it for the 100k sign-up bonus. Not wedded to it, but lounge access is worth a not insignificant amount with how much I'll travel. When your renewal comes up tell them you want to cancel. They gave me $550 off the fee to stay.
|
|
#
?
Sep 18, 2022 20:23
|
|
|
I got a mailer from Wells Fargo saying they're killing off the Propel card and converting it into their "Active Cash" card which seems to be a 2% cash back Visa. Meh, whatever. I haven't used the Propel card in ages.
Shear Modulus fucked around with this message at 04:09 on Sep 23, 2022 |
|
#
?
Sep 23, 2022 04:06
|
|
|
Between the universal 2% of the Active Cash and their new "Autograph" card (3% back on travel, restaurants, gas, phone plans, and some streaming services, no annual fee), there's a strong one-two combo for anyone in the Wells Fargo ecosystem. Japan's opening back up to tourists in October and I'm not looking forward to figuring out the maximum redemption route for my Chase points...
|
|
#
?
Sep 23, 2022 04:47
|
|
|
Space Fish posted:Between the universal 2% of the Active Cash and their new "Autograph" card (3% back on travel, restaurants, gas, phone plans, and some streaming services, no annual fee), there's a strong one-two combo for anyone in the Wells Fargo ecosystem. Same but Chase plus AMEX. I have so many points 
|
|
#
?
Sep 23, 2022 13:10
|
|
|
What's the best overall cashback % I can get right now for an everyday card? I have Chase Freedom Flex and Freedom Unlimited. I the better of which is 1.5% on all purchases. I'm just about out of my 1 year of 5% back on groceries which I'd like to get again in some fashion as thats the bulk of my purchases. I also have a Amazon Chase card for 5% on amazon purchases. Not really sure what card I should go for next. My preference is Chase since its nice having my CCs and Checking in one place. edit: I also like chase bc I can just redeem points as cash directly into my checking. drhankmccoyphd fucked around with this message at 19:10 on Sep 23, 2022 |
|
#
?
Sep 23, 2022 19:04
|
|
|
drhankmccoyphd posted:What's the best overall cashback % I can get right now for an everyday card? I have Chase Freedom Flex and Freedom Unlimited. I the better of which is 1.5% on all purchases. I'm just about out of my 1 year of 5% back on groceries which I'd like to get again in some fashion as thats the bulk of my purchases. I also have a Amazon Chase card for 5% on amazon purchases. Not really sure what card I should go for next. My preference is Chase since its nice having my CCs and Checking in one place. If you want a flat cashback card there are several 2% cards, there are some ways to get them up over 2%, and there's also the alliant 2.5% flat cashback card; the hoop for that one is holding 1k in a checking account with alliant (which is a credit union). A lot of people go for a Chase Sapphire card next, either preferred or reserve depending on how much you travel and want to use your points for travel. Chase also has a 5/24 rule, they won't open a card for you if you've opened 5 or more cards in the last 24 months. So if you think you might want another chase card you may want to get that before you go into other banks.
|
|
#
?
Sep 23, 2022 19:10
|
|
|
Yeah the the Sapphire Reserve looked appealing to me then I saw the $550 annual fee. I'd have to do the math on how much I travel and eat out.
|
|
#
?
Sep 23, 2022 19:14
|
|
|
|
| # ? May 17, 2024 17:22 |
|
|
The Citi Custom Cash is probably the best card for getting 5% back on groceries. It's 5% back on the biggest spending category only up to $500 a month though, and lol @ spending less than $500 a month on groceries these days
|
|
#
?
Sep 23, 2022 19:20
|
|