5% CA$H-BACK CREDIT CARD ('til OCT - 1% after) + More CC Cash-Back Info!

[BronzeBruce13]

Firstly.. I ONLY use credit cards for...

• the protection they offer,

• the extra time they provide me to pay off debt,

• any perk that may be available.

 

I DON'T recommend anyone carrying CC Debt (and paying juice) for anything, especially Comics! Its a trap and you have to have the discipline to use them to your advantage... or not at all.

 

In short, I view a CC as a convenient service offering the above advantages, and pay them off IN FULL when they are due. I have never paid (1¢) in CC juice my entire life. i don't buy beyond my ability to pay.

 

Now that we have that out of the way... I seek out and take advantage of "Cash Back" cards when I can find them. I have a Discover which is cool (and now safe with Paypal) because the 1% cash back can also be doubled to 2% worth of certain products. For instance BlockBuster rental cards are doubled and FTD florist service (comes in handy with the wife).

 

I also use CitiBank Cash Back Cards regularly. Mostly they are 1%, but occasionally 2%. All these cards have a $300 a year "pay out" limit. After I reach that limit, I just get another one. I'm on my 5th now. (4) were 1%CB, and (1) was 2%.

 

Now the big news! Here is an unbelievable 5% CB Credit Card (until Oct) that i just signed up for! If you make a decent amount of purchases, you can easily rack up the $$ up to the $300 pay out limit in no time. Only $6,000 in purchases up to October will get you there. $300 back on $6K worth of buys is pretty good! if not, take what you can get and after October it converts to 1% CB.

 

Anyway... here it is. Its an annoying completely automated sign up, but well worth it. just thought some of you here would appreciate a $300 kick back for paying with your CC.

 

 

[BronzeBruce13]

[Murph]

What's the interest rate? 10.99?

 

Brian

[BronzeBruce13]

I never pay attention to what the rate is Brian... It could be 99% for all I care. It does not apply to my strategy using CC's in general. Paying juice of any amount is not an option for me and defeats the advanatge of the cash back. The point is to use the CC as a tool and pay it off when the bill comes in, staying within your budget. if you can, there is ca$h to be had just for using them.

[Murph]

It definately defeats the purpose of cash back, I just wanted to point that out in case someone was thinking about applying and then letting a balance "ride".

 

Brian

[BronzeBruce13]

Gotcha, I hope i'm not encouraging that though.

Looks like 10.99 to me and more if you screw up (they hope)

 

If you buy via CC a lot its a no brainer offer!

[Murph]

I didn't read it over well enough, there's 0 percent APR on purchases until Oct. So I guess you could buy something and let it ride a couple months..

Any idea what the limit on the card is?

 

Brian

[uclapeterg]

A lot probably depends on your credit history and income.

[BronzeBruce13]

Usually they start me off with about $7K, but then I re-distribute the credit I amassed from the previous cards that have become useless as they reach the $300 pay out. I keep my primary card at $25K, and the other 2 that are approaching the limit $10K each.

 

That's also a benefit, you can always get another from them when you use one up and you increase your credit line each time. I have $45K worth of credit with Citibank... but Discover still won't raise me over $8K. (even though I charged and paid off $11K in a 3 month stretch). Citibank seems more than willing to give you more credit when you ask too... assuming you have a decent credit history I suppose.

 

BTW... Another strategy and advantage to having more than one card is to stagger your sign ups so that you have the "end date" ending 2 weeks apart with 2 cards... or ideally 3 cards 10 days apart. That way you can maximize the time you have to pay by chossing the card that is farthest from its end date when making a purchase. NOTE: if you do this don't assume that each month the day is the same, its not (except Discover). It will vary 2-4 days. So, you have to call in and force them to tell you the exact close dates for each month. Half the reps don't know they can find this out and will BS you, but tell them to ask a manager and they will give you the info.

[Murph]

Definately, I would guess a B rating gets you something like 12.99 and a C rating probably gets you a denial

 

Brian

[BronzeBruce13]

>Bump<

maybe I should have out this in general for better coverage.

[uclapeterg]

My credit rating is 930

[BronzeBruce13]

you gonna get one?

[tilleycs]

I prefer my Chase PerfectCard. 1% back on all purchases except gas; 3% back on all gas purchases. Don't need one of these.

[BronzeBruce13]

I don't work for the company or anything, so I don't benefit from people signing up. However, I fail to see where having a 5% CB CC that converts to 1% CB after October is not an attractive offer (not to mention the calling card capabilities too). I think your card sounds great as well... with the 3% back on gas in particular, but you could "add" this card, not choose between them? Why not have the best of both worlds?... if you intend on making any significant purchases prior to October that is.

[tilleycs]

Are you SURE you don't work for them or aren't getting any kind of kickback from them (a friend or relative work there, perhaps?)? You seem to be pushing it pretty hard (bumping your own topic, etc.). There are TONS of rewards cards out there. Interesting how you didn't say in your topic title that the 5% cash back is very temporary. Sounds like typical marketing campaigns.

 

I have one credit card, and I pay it off every month. I have no NEED for this card. I'm collecting comics, not credit cards.

[Aces]

 

 

Maybe they offered the GodFather a deal he couldn't refuse.

[BronzeBruce13]

yeah...I'm quite sure. Thanks for the skepticism. I bumped it so more people would get a chance to see it... what's the mystery? Also "until October" is about a half a year, not really "very temporary".

 

i just feel its a great offer for those that use CC's for their comic purchases... particularly those that use one a great deal. Maybe you are associated with a competing company for bothering to even post you were happy with your CC.

Why bother? Actually, I'd consider getting one of those (yours) too for my wife (instead of that frequent flyer mile CC we have). With gas prices expected to hit $3.00 per galon, 3% back permanently is a good reason to get one. Want to post the info?

 

Also, I do mention the October expiration at 5% in my post and also scanned the bloody ad large enough to read. It never occured to me to put the entire offer in the thread title...but if it would make you happy. I'm just aware that there are those on the forum, that could easily charge enough prior to October to really take advantage of this offer.

[uclapeterg]

I should definitely call them.

[spidermanbeyond]

Great post. I have Discover 2% cash back and Bank of America 2% cash back cards. I never never never carry a balance (the avg household has $8000 in credit card debt). 5% is a nice payback percent even if only until Oct. I know I reach the $300 max amount easily with my routine comic purchases.