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Guess if you want to churn, you have to play the "try to get the annual fee waived" game now.
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Jan 4, 2023 16:30
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I should be okay with a minimum spend singup bonus right? I got a USBank Shopper Rewards card about a month ago and didn't realize it had a $95 AF (waived first year), and there's a $250 bonus on $2k spend. Due to the AF, I will almost certainly cancel after 1 year. I can't imagine they would claw back the $250 as opposed to something like a CSR gives you 75k points on signup.
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Jan 4, 2023 16:36
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Those points are also spend-dependent, I believe. You'll have to check the cardmember agreement.
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Jan 4, 2023 16:37
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Josh Lyman posted:I should be okay with a minimum spend singup bonus right? I got a USBank Shopper Rewards card about a month ago and didn't realize it had a $95 AF (waived first year), and there's a $250 bonus on $2k spend. Due to the AF, I will almost certainly cancel after 1 year. I can't imagine they would claw back the $250 as opposed to something like a CSR gives you 75k points on signup. Some banks will try to clawback cash. I'd check for U.S. bank specifically. Generally, you can cancel after the one year, but less than one month after the annual fee bills and get them to refund it.
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Jan 4, 2023 16:38
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KillHour posted:Guess if you want to churn, you have to play the "try to get the annual fee waived" game now. You just wait till the 2nd annual fee posts and then cancel and they refund it. This isn’t really new.
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Jan 4, 2023 17:49
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To chime in on something good, my Iphone's port got corroded which is something that is pretty rare apparently. Was able to use my Amex's warranty extension to get it covered pretty easily with some minor hiccups. Took about a month.
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Jan 4, 2023 18:26
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UnleashedDad posted:To chime in on something good, my Iphone's port got corroded which is something that is pretty rare apparently. Was able to use my Amex's warranty extension to get it covered pretty easily with some minor hiccups. Took about a month. How involved was Amex in that process?
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Jan 4, 2023 22:23
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Leon Trotsky 2012 posted:Amex customer service has really sucked for me recently. I mean there was no doubt some bad customer service along the way there, but it's also kinda on you for keeping bad notes and not waiting a full year. It's pretty widely known your bonus will get clawed back in that case. pseudanonymous posted:You just wait till the 2nd annual fee posts and then cancel and they refund it. This isn’t really new. Yep, you've got 30 days after the AF posts for a refund. Unless you live in Massachusetts, then you can go even longer and get a prorated refund.
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Jan 7, 2023 07:00
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I’m seeing an Amex Platinum sign-up bonus of 150,000 points, and am wondering if I should go for it considering the points don’t expire and I could make good use of the perks/credits being offered in the first year. However, I rarely fly on their US airline partners (Delta, JetBlue, Virgin) as I don’t travel to their hubs and the places I do travel are better served (cheaper and non-stop) by American, United, and Southwest. With a growing family, I also don’t see any international travel in our future.
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Jan 8, 2023 11:39
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Tortilla Maker posted:I’m seeing an Amex Platinum sign-up bonus of 150,000 points, and am wondering if I should go for it considering the points don’t expire and I could make good use of the perks/credits being offered in the first year. You can book United flights with Avianca and American flights with Avios, but I'd do a quick check for partner availability from whatever hub you're departing from. You can also redeem them at about ~1cpp through Amex Travel. Not the best, but its still a decent chunk for the SUB.
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Jan 8, 2023 13:36
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Guys I need some emotional support. I just spent $300 at Costco and I couldn't remember which card had 5% at wholesale so I panicked and used my 2% Wells Fargo.
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Jan 8, 2023 21:34
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Condolences on your $9, and thank you for reminding me why I prefer to prioritize SUBs before categories
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Jan 8, 2023 22:49
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Medullah posted:Guys I need some emotional support. I just spent $300 at Costco and I couldn't remember which card had 5% at wholesale so I panicked and used my 2% Wells Fargo. I treated someone to lunch over the weekend at a downtown Subway where the prices are higher than usual and I forgot Chase's 10% offer!  to my $2 and some change back
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Jan 8, 2023 22:52
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Since this is the de facto reward thread, a question about whether I got a good “deal” or not with Hyatt points. Standard Room: 21k points or $490/night Grand suite: $1100/night or 6k points plus $490. I don’t normally book suites but I did in this case since we’re traveling with our baby and I’ll be status post a 120 mile bike ride. Seems like a decent deal right?
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Jan 8, 2023 23:06
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Medullah posted:Guys I need some emotional support. I just spent $300 at Costco and I couldn't remember which card had 5% at wholesale so I panicked and used my 2% Wells Fargo. wait which one has 5% CB at wholesale clubs???
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Jan 8, 2023 23:13
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Unsinkabear posted:Condolences on your $9, and thank you for reminding me why I prefer to prioritize SUBs before categories SUBs over clubs
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Jan 8, 2023 23:38
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Shear Modulus posted:wait which one has 5% CB at wholesale clubs??? It's the Best Buy Visa, after researching. Which I'm meh about missing since their rewards are for Best Buy credit. Edit - And it's not permanent, just this quarter. I know Chase Freedom has it usually one quarter a year too.
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Jan 8, 2023 23:43
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pseudanonymous posted:No it’s subscription but you can choose to pay 1$ as far as I know. Well, after trying every day to log in and getting "uh-oh, something went wrong, please try again later" every time, I'm unlikely to bother with them. Which is a shame, because I primarily use Citi and Amex.
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Jan 9, 2023 00:19
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I've asked this before, but is there a good way to get value out of Amex points other than transferring them to travel partners and doing that whole song and dance? I've got a bunch to burn but cash back seems like a rip. Do you get better values in their vacation portal or something?
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Jan 9, 2023 01:42
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disaster pastor posted:Well, after trying every day to log in and getting "uh-oh, something went wrong, please try again later" every time, I'm unlikely to bother with them. Which is a shame, because I primarily use Citi and Amex. It can be a bit tricky and sometimes appears to net synch up right. Sometimes I have to get a code from Amex to enter.
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Jan 9, 2023 03:24
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FunOne posted:I've asked this before, but is there a good way to get value out of Amex points other than transferring them to travel partners and doing that whole song and dance? If you have the Business Platinum or Business Gold, you can a 25 or 35% rebate on flights (booked thru Amex not transferred to use as an award flight). Alternatively, the Schwab and Morgan Stanley cards allow cash out at 1cent per point (1.1 I think with Schwab?)
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Jan 9, 2023 04:25
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FunOne posted:I've asked this before, but is there a good way to get value out of Amex points other than transferring them to travel partners and doing that whole song and dance? Seconding this. I can't even figure out who the "good" travel partners are with Amex. I guess Marriott isn't bad if you do the stay 4/5th night free thing?
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Jan 9, 2023 04:26
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Small White Dragon posted:If you have the Business Platinum or Business Gold, you can a 25 or 35% rebate on flights (booked thru Amex not transferred to use as an award flight). It's 1.1 CPP for Schwab right now, afaik you can cash them out directly into a ROTH IRA, they don't count against your limit for the year and you never pay tax on them, so you could say they are worth 1.1 * Mgtaxrate in that sense. I think Amex is good if you travel a lot and want to grab the 1x lifetime subs, after that not so sure it's worth paying 700 bucks a year, though I do get compliments on my AMERICAN EXPRESS PLATINUM CARD.
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Jan 9, 2023 05:43
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pseudanonymous posted:It's 1.1 CPP for Schwab right now, afaik you can cash them out directly into a ROTH IRA, they don't count against your limit for the year and you never pay tax on them, so you could say they are worth 1.1 * Mgtaxrate in that sense. That is wild, why don't they count against your yearly IRA cap? And how complicated would it be to do that and then empty the Schwab IRA into an existing Vanguard or Fidelity one? 
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Jan 9, 2023 06:06
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pseudanonymous posted:I think Amex is good if you travel a lot and want to grab the 1x lifetime subs, after that not so sure it's worth paying 700 bucks a year, though I do get compliments on my AMERICAN EXPRESS PLATINUM CARD. At the airport earlier this week there was a Clear representative asking if we had Clear or an Amex Platinum, and explained Clear was free for Amex Plat members. I can only imagine how hard some members must huff their own farts when they get that question. "Why YES, I AM an EXCLUSIVE member, tell me MORE about these AMAZING benefits!" (just ribbing the Amex folks, most of y'all anyway)
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Jan 9, 2023 06:15
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Unsinkabear posted:That is wild, why don't they count against your yearly IRA cap? And how complicated would it be to do that and then empty the Schwab IRA into an existing Vanguard or Fidelity one? My understanding is it’s not a contribution of earnings it’s a rebate. It is also a grey area like back door Roths and other things with no formal IRS guidance.
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Jan 9, 2023 07:40
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pseudanonymous posted:It's 1.1 CPP for Schwab right now, afaik you can cash them out directly into a ROTH IRA, they don't count against your limit for the year and you never pay tax on them, so you could say they are worth 1.1 * Mgtaxrate in that sense. You can't send it to a standard brokerage account or something like that? I have a ton of MR and have been considering this. pseudanonymous posted:It is also a grey area like back door Roths and other things with no formal IRS guidance. ? Pretty sure the IRS has reviewed backdoor Roths.
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Jan 9, 2023 10:28
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pseudanonymous posted:It can be a bit tricky and sometimes appears to net synch up right. Sometimes I have to get a code from Amex to enter. No, like, I signed up but can't get any further than that; I give it my email, my password, and I get that error. I don't have a profile yet, let alone cards to sync. But thank you!
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Jan 9, 2023 13:52
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Small White Dragon posted:You can't send it to a standard brokerage account or something like that? You can, it's just (slightly) better to get it in a tax-preferential account. Wish I had known before doing my large SUB cashouts (to a regular brokerage account) but now it doesn't seem worth the hassle of yet another account to manage.
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Jan 9, 2023 16:05
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If you're someone who lacks a 401k and is normally limited by a capped IRA being your only retirement savings vehicle, that trick becomes even more attractive imo. I don't see it being much hassle, either. Can't you just close the Schwab IRA once you've gotten your SUB and transferred it over to your existing Roth elsewhere? Since these SUBs are once per lifetime and iirc the current one is only 100k, I'm going to wait to see if the offer goes back up to 150k points. If it does, I'll jump on it. Unsinkabear fucked around with this message at 16:56 on Jan 9, 2023 |
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Jan 9, 2023 16:28
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Shortly after posting that, I went to Amex's website to look up the food delivery credits on the Gold (possible downgrade path) and got offered 125k. Which one of you works at Amex? 
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Jan 9, 2023 16:56
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Getting extra into a Roth with credit card points is a pretty cool trick. So you need to accumulate a ton of amex subs, then cap it off with the Schwab plat and rip them the points out before having to pay the 2nd annual fee eh. The regular no-fee Schwab card doesn't let you do it?
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Jan 9, 2023 22:38
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Unsinkabear posted:How involved was Amex in that process? I filled it out online, they sent me a form to fill out, I sent them the form filled out with the receipts of the work done (all from Apple store). I did have to call in because they were saying stuff was missing when it wasn't, which got resolved when the person on the phone looked it over and confirmed to the warranty people that everything was good. Minor issues but it got fixed with a 5-10 minute call and a few things to send it. It saved me 500 bucks so I'm happy.
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Jan 9, 2023 22:58
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New Amazon Rewards Visa opt-in bonus arrived: "Activate this special offer by March 31, 2023 and you’ll earn a total of: 5% back at gas stations 5% back on internet, cable and phone services 3% back at grocery stores This offer is valid for every $1 you spend on up to $1,500 in combined purchases made with your Amazon Rewards Visa Card." This card has really woken the gently caress up lately after years of slumber. Edit: Huh, "this promotion is not available for the account you entered," okay. Prime only? Not for my zip code, perhaps? Space Fish fucked around with this message at 02:24 on Jan 10, 2023 |
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Jan 9, 2023 23:03
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Baddog posted:Getting extra into a Roth with credit card points is a pretty cool trick. So you need to accumulate a ton of amex subs, then cap it off with the Schwab plat and rip them the points out before having to pay the 2nd annual fee eh. The regular no-fee Schwab card doesn't let you do it? The Amex Schwab Platinum is a separate product, so technically you get 3 "one time" sign up bonus for platinum cards, Vanilla, Morgan Stanley, and Schwab. So if you do 1 for a year then sign up for the second then the 3rd that's 3 annual fees for 3 years of platinum benefits (6 years of annual credits possible since a lot of the credits are calendar year). this is my current "credit card strategy".
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Jan 10, 2023 00:48
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You'd have to do the Schwab one last, so assuming you only want to pay one annual fee at a time, there's a bit of a gamble there. The extra 10% at Schwab and/or the IRA grey area could both change in three years. That's also a long time to hold that many points, I'd be worried about amex loving with the value.
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Jan 10, 2023 01:23
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Unsinkabear posted:You'd have to do the Schwab one last, so assuming you only want to pay one annual fee at a time, there's a bit of a gamble there. The extra 10% at Schwab and/or the IRA grey area could both change in three years. The loophole getting closed is prolly the biggest risk! Being able to deposit an extra 5K or more in 3 years for doing a couple credit card signups would be very nice.
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Jan 10, 2023 02:09
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Baddog posted:The loophole getting closed is prolly the biggest risk! Are you limited to how many points can transfer over to the Roth? Say, if you also had a gold card and got 4x points?
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Jan 10, 2023 02:54
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I have a garbage Citibank card that I haven't used since 2020 and they just sent me a polite letter saying that they're going to close it due to inactivity if I don't make at least one purchase by 6/30/23. That's good service! I'm not being sarcastic
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Jan 14, 2023 02:06
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That is nice; a lot just say "thanks we're closing it [in 30 days] and you can do nothing about this" and maybe if you're lucky you can quickly product change it to interrupt the closure.
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Jan 14, 2023 02:56
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