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2% credit card?

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AznAnarchy99 said:
Hm they give .95% interest for their savings. I might have to talk my mom into do this rather than a stupid 1.5% CD for 5 years.
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Until CD's get above 3% I have ZERO interest in CDs. It's pathetic to expect my money to be locked in a safe for 2 years and receive just a hair over what a savings account can give me.

And there are actually other places that have higher savings account %, but I don't know them much so I decided to go Discover since I trust them.
 
s0me0nesmind1 said:
Until CD's get above 3% I have ZERO interest in CDs. It's pathetic to expect my money to be locked in a safe for 2 years and receive just a hair over what a savings account can give me.

And there are actually other places that have higher savings account %, but I don't know them much so I decided to go Discover since I trust them.
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Barclays wasn't bad but Discover gave $100 bonus for signing up. I got my mom to sign up.
 
AznAnarchy99 said:
Hm they give .95% interest for their savings. I might have to talk my mom into do this rather than a stupid 1.5% CD for 5 years.
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I looked at Barclays, I decided that any FDIC insured online savings is safe. Synchrony or GE Capital pay better, I have accounts at both.
 
I got 70 bucks cash back this month with a BofA cashback with platinum honors (75% rewards bonus). Its the typical 1%/2%/3% rewards with $1500 quarterly cap on grocery/gas. We literally put every cost on it and do just barely exceed the quarterly cap.
 
Currently on a waitlist for a first class flight to Tokyo that costs $14,000. Flight cost me 149k points. Redemption of 9.3 cents per point.
 
AznAnarchy99 said:
Currently on a waitlist for a first class flight to Tokyo that costs $14,000. Flight cost me 149k points. Redemption of 9.3 cents per point.
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For real, a flight to Tokyo (1st class, alas), $14,000? OMG! Can't you get there a lot cheaper without stowing in a wheel well or a cardboard box? 😵
 
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As of March 1, SallieMae 5% cash back becomes just 2%!

So, I get a letter from my credit card company. The card is a SallieMae Rewards Mastercard. Up to $250 I get a 5% cash back for groceries, gas or books when purchased from retailers specializing in those categories.

The letter says that on March 1, 2017 they are starting a new program and cancelling the old one. The new one is a Commence SallieMae card and features just 2% in those categories but no limit. The no limit has no appeal for me because I never get close to the current $250 limit. I may never use the SallieMae card again if the rebate is only 2%, I'll likely just use my Citi Double Cash, it's practically the same thing and I don't have to sweat weather my purchase is at an eligible retailer.
 
2% on a credit card? How does one manage that? I'm at like 19.5% or something like that. Of course, I never carry a balance for more than a month. For longer term stuff I use the credit line which is like around 6% or so.
 
Red Squirrel said:
2% on a credit card? How does one manage that? I'm at like 19.5% or something like that. Of course, I never carry a balance for more than a month. For longer term stuff I use the credit line which is like around 6% or so.
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2% cash back to the user and NOT the interest rate the CC company charges. Citibank 2% cash back credit card in which I am using charges 13.24% to 23.24%, based on the user creditworthiness.

I don't care about the interest rate because I paid the whole balance before the due date so it is all good.
 
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Ohhhh I see, yeah I never use cash back on a CC, I use my debit card for that and not pay any interest at all. I did use cash back once in a pinch though when I was traveling and only had my credit card on me at that particular moment.
 
Red Squirrel said:
Ohhhh I see, yeah I never use cash back on a CC, I use my debit card for that and not pay any interest at all. I did use cash back once in a pinch though when I was traveling and only had my credit card on me at that particular moment.
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You are confusing cash advance with cash back. Cash advance is taking cash from the limit of your credit card with an exorbitant interest rate charged with no grace period. Cash back is a reward program that rebates you a percentage of your purchases as cash to incentivize your use of the card. In this case, spend $100, get $2 back.

Very different things.

Viper GTS
 
Viper GTS said:
You are confusing cash advance with cash back. Cash advance is taking cash from the limit of your credit card with an exorbitant interest rate charged with no grace period. Cash back is a reward program that rebates you a percentage of your purchases as cash to incentivize your use of the card. In this case, spend $100, get $2 back.

Very different things.

Viper GTS
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Oh never even heard of that TBH. Did not know that was a thing. I guess it's kinda like points but instead it's cash?
 
Red Squirrel said:
Ohhhh I see, yeah I never use cash back on a CC, I use my debit card for that and not pay any interest at all. I did use cash back once in a pinch though when I was traveling and only had my credit card on me at that particular moment.
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Ok. Let me explain.

2% cash back = let say I charged my CC card for $30,000 last month. I paid the whole balance before the due date in full so the 13% - 24% interest rate from the CC company would not apply to me. So I earned about $600 cash back from the CC (2% of the $30,000 balance which was paid in full before due date).

When you use your debit card to take out cash from your checking/saving account when you use it at the store or WalMart or any store that allow that, that is just like you withdraw the money from the ATM of your bank or go to the bank and get the money from the teller. No charge or not cost to you because you just use your own money.

Viper talked about cash advance and I never use it and the interest rate will start from the moment you use it, no grace period at all.
 
Muse said:
Talk about some BS, today I applied online for the BankAmericard Better Balance Rewards card that pays out $25/quarter as long as you make the minimum payment monthly (extra $5 if you bank with BofA). I was instantly approved, it said my card would arrive in 7-10 business days.

<snip>
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I recently applied and was approved for this card. Have you received your $25 per quarter without any hassles or glitches?
 
RossMAN said:
I recently applied and was approved for this card. Have you received your $25 per quarter without any hassles or glitches?
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Last time I checked, it was working as specified. I have periodic charges made on the card automatically set up as well as auto-payments of the full card balance against my checking account. Works like a charm, evidently.
 
Svnla said:
Ok. Let me explain.

2% cash back = let say I charged my CC card for $30,000 last month. I paid the whole balance before the due date in full so the 13% - 24% interest rate from the CC company would not apply to me. So I earned about $600 cash back from the CC (2% of the $30,000 balance which was paid in full before due date).

When you use your debit card to take out cash from your checking/saving account when you use it at the store or WalMart or any store that allow that, that is just like you withdraw the money from the ATM of your bank or go to the bank and get the money from the teller. No charge or not cost to you because you just use your own money.

Viper talked about cash advance and I never use it and the interest rate will start from the moment you use it, no grace period at all.
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I never even knew it was two different things. It seems like I've been missing out on a feature I did not even know existed. How do you go about redeeming that cash? I probably have a ridiculous amount on my card that I don't know about lol. Which reminds me I should check what my current points can get me. Have yet to redeem them on this particular card. I usually just get Home Depot cards.
 
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