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re: Credit Card Rewards and Points Discussion
Posted on 10/14/15 at 6:21 am to Teddy Ruxpin
Posted on 10/14/15 at 6:21 am to Teddy Ruxpin
That makes sense, I was trying to hold out on the citi aa hoping it would have a 100k bonus again at some point but I guess this is the next best thing.
Do you know how Chase cards are coding this?
Do you know how Chase cards are coding this?
2
Posted on 10/14/15 at 8:29 am to Creamer
The other day I was thinking of a way to make easy money and had an idea that has to do with credit cards and there rewards systems. I have no clue how they work at all but in short my idea was for users of a credit card to build/earn money that would then be donated to a charity.
So instead of someone choosing to earn flights or cash back they would slowly earn money that would automatically be donated to a charity. I feel like theres a good bit of people who would chose this over earning flight points, especially if you could right that off on taxes.
Again I have literally no clue how any of this works or shite this could already be a thing. But my plan was to start a company that would partner with the credit cards and take the money people would earn and then be like the money manager/ middle man between the people and charities, and its at this point I would take a percentage of the donations and make my money.
So, am I a fricking retard our could this be a thing? as I wrote it out it sounded retarded
So instead of someone choosing to earn flights or cash back they would slowly earn money that would automatically be donated to a charity. I feel like theres a good bit of people who would chose this over earning flight points, especially if you could right that off on taxes.
Again I have literally no clue how any of this works or shite this could already be a thing. But my plan was to start a company that would partner with the credit cards and take the money people would earn and then be like the money manager/ middle man between the people and charities, and its at this point I would take a percentage of the donations and make my money.
So, am I a fricking retard our could this be a thing? as I wrote it out it sounded retarded
Posted on 10/14/15 at 8:53 am to Creamer
quote:
Do you know how Chase cards are coding this?
Unfortunately reports are it's coding as a cash advance
Posted on 10/14/15 at 9:07 am to Teddy Ruxpin
My deposit is sitting in my Citi Gold account now. 
I haven't done any research. Does making payments on the Citi AA card count as qualifying bill pay?
I haven't done any research. Does making payments on the Citi AA card count as qualifying bill pay?
Posted on 10/14/15 at 9:56 am to LSUAfro
quote:
I haven't done any research. Does making payments on the Citi AA card count as qualifying bill pay?
I read Citi payments don't count.
I've already set up 5 bill pays for this month and 2 on Amex's for next month.
I'm going to withdraw the leftover cash and deposit into Cap One to pay the Citi AA card.
This post was edited on 10/14/15 at 9:57 am
Posted on 10/14/15 at 9:59 am to MLSter
quote:
So, am I a fricking retard our could this be a thing? as I wrote it out it sounded retarded
I don't think you're retarded but I'm aware of some programs allowing points earned to go to charity. But charity isn't the primary focus of those programs.
Of course, I have no idea how you would set your system up so I'm not going to tell you if it would work or not.
Posted on 10/14/15 at 10:35 am to Teddy Ruxpin
quote:
I've already set up 5 bill pays for this month and 2 on Amex's for next month.
I'm going to withdraw the leftover cash and deposit into Cap One to pay the Citi AA card.
Good to know. I'll probably do the same.
Posted on 10/14/15 at 10:39 am to Teddy Ruxpin
quote:
I don't think you're retarded but I'm aware of some programs allowing points earned to go to charity. But charity isn't the primary focus of those programs.
Yes, many CC rewards programs already allow you to donate to certain charities.
Posted on 10/14/15 at 1:32 pm to LSUAfro
quote:
LSUAfro
quote:
Teddy Ruxpin
Ok, so I'm ready to look into this deal now, please let me know if what I say makes sense and what you may be able to help on.
Ok, got the Prestige on the way. I should go ahead and open the CitiGold account now, right? Then, I need to set my cash advance to as low as they'll go and then deposit with my Prestige everything beyond that cash advance minimum, correct? Let's say it's a minimum of $1,000, then I could deposit $25,000 into the CitiGold account and would also get 25,000 TY points for the "purchase"? That's sweet. Of course, I would want to pull that money out of my account to pay back the card, is that an issue and how fast can you do that?
Second part (sorry for the long read): I'm debating back and forth between the TY and AA reward. 50,000 TY can give me an $800 flight on AA and I don't have to deal with bullshite mileage issues like I seem to be having with AA (no availability on saver awards). Just book a flight with "cash" TY points and I could even potentially upgrade that flight using my AA miles, I think.
BUT, if you cancel the CitiGold account with the TY points offer, you need to reeem them or transfer them out and use them in 90 days. That's a big one and I'd need to make sure I'm going to keep the Gold account open or have a trip planned in 90 days. Worst case I guess I could do $500 gift card but I think 50,000 AA miles is definitely worth more than $500.
That link you posted also mentions having the CitiGold account should reduce my annual fee to $350 on my Prestige so that's a sweet byproduct. I wonder if that means I have to go the TY reward route or it happens even if I get the 50k AA miles?
The bill payment is just any bill (cable, phone, etc)and you just need to pay it from the CitiGold account, right?
Anything I left out or advice I need to know? TIA
This post was edited on 10/14/15 at 1:40 pm
Posted on 10/14/15 at 3:32 pm to Sho Nuff
I think you got the gist of it.
I went with the AA miles for a couple reasons.
1. I'm just more familiar with AA miles as I just earned the Premier 50k TY bonus a few weeks ago,
2. I used the AA card to fund (you need this card to even be eligible for the AA offer),
3. I didn't want to deal with all the TY BS with the account and possible tax forms Citi issues sometimes apparently.
I've read nothing limiting you to liquidating the checking account. Probably want to leave in about $100 to cover any $30 monthly fees that may be applied (first 2 months should waive).
As of now, I'm using the 10,000 cash
1. to pay off my other CCs to complete bill pay requirements.
2. Will buy a couple $500 GCs with my debit card to satisfy the $1,000 minimum.
3. Have already withdrawn $400 (and will do this 6 times this month to have ATM fees reimbursed) and deposited it into another checking account to bill pay funding AA card I used.
4. Will use my regular checking account to pay down remainder of $10k on AA card that would have went to paying off other CCs.
I went with the AA miles for a couple reasons.
1. I'm just more familiar with AA miles as I just earned the Premier 50k TY bonus a few weeks ago,
2. I used the AA card to fund (you need this card to even be eligible for the AA offer),
3. I didn't want to deal with all the TY BS with the account and possible tax forms Citi issues sometimes apparently.
I've read nothing limiting you to liquidating the checking account. Probably want to leave in about $100 to cover any $30 monthly fees that may be applied (first 2 months should waive).
As of now, I'm using the 10,000 cash
1. to pay off my other CCs to complete bill pay requirements.
2. Will buy a couple $500 GCs with my debit card to satisfy the $1,000 minimum.
3. Have already withdrawn $400 (and will do this 6 times this month to have ATM fees reimbursed) and deposited it into another checking account to bill pay funding AA card I used.
4. Will use my regular checking account to pay down remainder of $10k on AA card that would have went to paying off other CCs.
This post was edited on 10/14/15 at 3:33 pm
Posted on 10/15/15 at 9:37 am to Teddy Ruxpin
quote:
Have already withdrawn $400 (and will do this 6 times this month to have ATM fees reimbursed) and deposited it into another checking account to bill pay funding AA card I used.
Why are you doing this step? From my understanding it reimburses up to 6 ATM fees per month, but not necessary to make 6 W/Ds to receive reimbursement.
Posted on 10/15/15 at 9:41 am to Sho Nuff
quote:
I'm debating back and forth between the TY and AA reward. 50,000 TY can give me an $800 flight on AA and I don't have to deal with bullshite mileage issues
If I was in your shoes and wanted the miles strictly for getting from your retirement community to MSY, I'd probably go the TYP routes too, but AA miles definitely have more potential value as I'm sure you know. They can just suck so bad for domestic routing. I've actually been real impressed using Delta miles domestically. They are great for getting in to rural airports.
On a side note, AA seems to have opened up plenty of Europe space in biz class. Just booked my flight home next summer DUB-CLT-MSY for $45 per ticket and 50k miles each. Just can't route through LHR, so I opted to start in DUB.
This post was edited on 10/15/15 at 9:43 am
Posted on 10/15/15 at 9:42 am to LSUAfro
quote:
Why are you doing this step? From my understanding it reimburses up to 6 ATM fees per month, but not necessary to make 6 W/Ds to receive reimbursement.
Just because my rough math says I should probably cash out about that much to pay off the AA card. I think my due date will be about Nov. 17th.
I don't want to be too "closed loop" if I can avoid it, and I'm visiting those ATMs and Cap Ones anyways doing Visa Buxx coming back from work related stuff.
But you're right, it is unnecessary.
ETA: My $300 Staples VGCs shipped so those are real
quote:
If I was in your shoes and wanted the miles strictly for getting from your retirement community to MSY,
This post was edited on 10/15/15 at 9:50 am
Posted on 10/15/15 at 9:52 am to Teddy Ruxpin
Got it. Makes sense.
I did make my first payment on my Citi card using Visa Buxx card this morning. That was easy
Thanks for the reminder. With the end of redbird, it was time to move on to plan B. It's also time to add my wife as a child on buxx, close her redbird, open her a Serve again, and buy $300 gift cards. Sounds like a lot.
If they close Serve, it would definitely put a cramp in my game.
I did make my first payment on my Citi card using Visa Buxx card this morning. That was easy
Thanks for the reminder. With the end of redbird, it was time to move on to plan B. It's also time to add my wife as a child on buxx, close her redbird, open her a Serve again, and buy $300 gift cards. Sounds like a lot.
If they close Serve, it would definitely put a cramp in my game.
Posted on 10/15/15 at 10:08 am to LSUAfro
quote:
If they close Serve, it would definitely put a cramp in my game.
Keep your mouth shut.
quote:
With the end of redbird
That escalated quickly huh? Shot out of the gate like a rocket and crashed like Challenger. I hope its just them.
Ya, I'm finding Buxx to be real easy, even way easier than Staples and Serve since my closet Kate isn't so close. I opened Cap One checking because they are every where, and its maybe 3 minutes from fee free Allpoint ATM withdrawal to pulling up and depositing the cash.
Posted on 10/15/15 at 10:54 am to Teddy Ruxpin
quote:
Keep your mouth shut.
Yeah...don't want to jinx it. quote:
Ya, I'm finding Buxx to be real easy
Ditto. Wish I would've started this years ago.
quote:
Staples
What a racket that is... $9 for a $200 card
. Would've been really nice to have started this game when the $500 Office Depot cards for $5 were available and could be loaded online to various accounts.
Posted on 10/15/15 at 11:00 am to LSUAfro
quote:
What a racket that is... $9 for a $200 card .
$8.95 for $300 is better than $6.95 for $200. And easier to load to Serve which is worth something. But ya, who would buy those who weren't MSing?
quote:
Would've been really nice to have started this game when the $500 Office Depot cards for $5 were available and could be loaded online to various accounts.
Vanilla Reloads. God those were amazing. $3.95 for $500 X 5. Missed them at OD by a year as I didn't start getting into this until 2013. I think the Mint ended in 2012 as well. I sure hope some of those type of deals return for public consumption. I bet some guys are onto some things we can't even get our heads around.
This post was edited on 10/15/15 at 11:01 am
Posted on 10/15/15 at 11:05 am to Teddy Ruxpin
quote:
$8.95 for $300
Yeah that's what I meant. And agreed. Definitely better than the alternative $200, and I would guess that >99% of those cards purchased are for MS purposes. Visa and Staples would be disappointed to see that revenue stream disappear if there wasn't an easy unload option.
quote:No doubt. I've had a few ideas pop in to my head here and there, but never really put the effort in to seeing it through.
Vanilla Reloads. God those were amazing. $3.95 for $500 X 5. Missed them at OD by a year as I didn't start getting into this until 2013. I think the Mint ended in 2012 as well. I sure hope some of those type of deals return for public consumption. I bet some guys are onto some things we can't even get our heads around.
The bank account route is definitely an option I will explore in 2016.
Posted on 10/15/15 at 11:08 am to LSUAfro
quote:
The bank account route is definitely an option I will explore in 2016.
Me too. I had disregarded it thinking it would be too much work with my HR department, but that's not the case so I'm all in.
Here's a hint for MS opportunites: Search credit unions
I found one in LA that sounds awesome when I read the T&C, I just can't find a way that would ever make me a member
Posted on 10/15/15 at 1:03 pm to Teddy Ruxpin
quote:
I'm just more familiar with AA miles
Me too, just getting tired of seeing no saver awards lately. All these miles they're giving out have to bite somewhere.
quote:
I used the AA card to fund
I have the Citi AA and Red Aviator plus the Prestige on the way. I am likely canceling the Citi AA next year when renewal comes up as the Aviator is better in every way. Only problem is I've had the Citi since 2005 so that's a long term card I lose.
quote:
I didn't want to deal with all the TY BS with the account and possible tax forms Citi issues sometimes apparently.
Apparently, if you get too much value even on AA miles you could see a 1099 but I'm not worried about that. But you're right about the TY stuff, seems more difficult.
quote:
As of now, I'm using the 10,000 cash
1. to pay off my other CCs to complete bill pay requirements.
2. Will buy a couple $500 GCs with my debit card to satisfy the $1,000 minimum.
3. Have already withdrawn $400 (and will do this 6 times this month to have ATM fees reimbursed) and deposited it into another checking account to bill pay funding AA card I used.
4. Will use my regular checking account to pay down remainder of $10k on AA card that would have went to paying off other CCs.
Good call, so I can pay other CCs and that counts as the 1 bill pay per month I need to do? Sweet.
Forgot about the debit card $1,000. Did you get your DC yet?
Afro covered the ATM thing, I was confused
Or you could just pull it our of the bank and pay back your CC yu used to fund the account, right?
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