I love credit cards so much!

[jhoannam]

Finished my SPG Biz spend super early by knocking out last $3K with BMO Harris accounts, kinda nervous doing it that way but the data points on it being ok for SPG Amex are solid and I'm fairly good with bank accounts so I ought to be able to keep them all fee free until I have to close them in the next few months. Not something I usually do but I knocked it out early because I saw US Bank's pre-qualified page for me had Altitude Reserve with the 50K bonus offer. I figured I'd never qualify for that credit card due to low income but I've had a US Bank Account since they ran a promotion at the end of June & I kept it open. I'd checked pre-approvals before but only saw their cash cards, and then flex perk cards and but new this time was Altitude Reserve (I have no USBank cards). Applied and got a message that said I'd receive a decision in 7-10 days, followed by a page with a balance transfer offer (even though I had stated I wasn't interested in a balance transfer when asked in the application). Someone on Reddit says this should mean I have an approval and should get the card soon. Ever suspicious me is still not certain so I'm keeping my fingers crossed this pre-qualified thing worked out and I can start working on meeting the minimum spend on an Altitude Reserve! (Which, for anyone who doesn't know, you want to keep 100% legit spend. They are extremely trigger happy to shut people's accounts down, I will not be funding a bank account with that puppy if I get it!)

Can you explain how bank funding works? Where can I go learn more about this? I plan to double dip CSP/CSR and there is no way to meet the MS without bank funding.

 

[jhoannam]

I'm still working on SPG Biz, because I figured it'd slow me down too... was thinking about doing an Ink card when I am under 5/24 again this summer. But all I can think about is my next card! (even though we're low on spending opportunities right now...) Marriott Biz? SPG Biz for DH? Marriott Cards for him? Ink? He's 4/24 right now, and another card drops off in March. I just want to keep him open for SW CP for 2019-2020.

What about the new Amex Hilton Biz card?

 

[pillow]

Funny story . . . last night I sent DH to both Toys R Us and Best Buy with very specific instructions of what to purchase in order to max out both this quarter's Chase Freedom 5% and the BB 10x Chase Pay deal. He bought $1K worth of GOC cards at ToysRUs first, and then went over to BB to purchase a $500 Ticketmaster gift card. The transaction rejected, so he figured it was flagged for fraud and called Chase. Of course they had to verify him, which went something like this:

Chase: I will need to ask you a few security questions to unlock your account.
DH: Sure - no worries (cause I'm the most laid back man alive - otherwise I wouldn't be married to my credit card obsessed wacko frugal crazy wife).
Chase: Can you confirm your address?
DH: Yep - done
Chase: Can you name a few of the other Chase cards you own?
DH: Uhhh . . . I have no idea what credit cards I own. My wife gets them all for me!

As he is telling me this, I just put my head in my hands. Then I reminded him of which Chase cards he owns. I'm glad he knew the answers to the rest of their questions so they could determine that he is not a criminal! Now just crossing my fingers that the 10x posts on the BB purchase. No issues with the Freedom right?

 

[pillow]

Also - data points on the Marriott Business card. DH was finally approved after waiting about a week (he only had 1 other Chase business card).

I was denied initially but approved after calling reconsideration. I already have 2 Chase Business cards, so Marriott makes #3. I asked if they would reconsider me if they moved credit from one of my other business cards. Guess that worked. Boy I hate calling!

 

[disneymagicgirl]

Amex offers have been lately on DHs card. Anyone else getting anything good?

 

[gottalovepluto]

Can you explain how bank funding works? Where can I go learn more about this? I plan to double dip CSP/CSR and there is no way to meet the MS without bank funding.

Some banks allow initial deposits with credit cards. I deposited $1K into each BMO Harris account (checking/savings/money market), I will pull out what money I can to my normal bank account and pay off my credit card from that account. I will do the work to keep the accounts fee free until I can close the accounts without an early closure fee. I researched ahead of time for DPs on people funding with SPG and I found out I had to open all the accounts at once and you can only open accounts once every 30(?) days.

DoC lists dollar amount limits for credit card funding as it varies bank to bank (bank doesn't always tell you how much they'll allow and you could fail out if you cross their limit).

Dangers: coding as a cash advance. Always look for DPs before you attempt it for your specific card to assure it won't post as a cash advance. Usually only accounts opened online work, credit cards run in-branch almost always code as cash advance. Ideally, drop your cash advance to $0 or as low as they will let it go, I think mine at chase are at $100, so if a bank tries to run it as a cash advance it will be denied. Also check to make sure the credit card issuer won't yank your bonus by looking at people's DPs. (Chase hasn't yanked anyone's bonuses yet for bank funding.)

Ideally hook this up with a bank bonus offer! Off the top of my head I remember Bank of the West, PNC & BMO Harris doing initial deposit via credit card. (Admittedly PNC failed to allow me to initial deposit by credit card, but many others have been successful. Maybe because my name didn't exactly match my credit card, I never did figure it out.) BoW and BMO Harris are state specific for bonuses and enforced, PNC is state specific but not enforced (could always change, I got it in CA). DoC comments are your guide for how to trigger bonuses. Since we're in tax season do remember that unlike credit card bonuses bank bonuses will trigger a 1099-INT and should be declared as interest income on your taxes.

This is a good guide for DPs on this: https://www.doctorofcredit.com/does...card-count-as-a-purchase-or-cash-advance/#PNC

 

[wendow]

I'm still working on SPG Biz, because I figured it'd slow me down too... was thinking about doing an Ink card when I am under 5/24 again this summer. But all I can think about is my next card! (even though we're low on spending opportunities right now...) Marriott Biz? SPG Biz for DH? Marriott Cards for him? Ink? He's 4/24 right now, and another card drops off in March. I just want to keep him open for SW CP for 2019-2020.

I'm working on two card's spends right now...my amex BRG and dh's SPG...and I am still already mentally onto my next card lol. Sick in the head indeed! I'm trying to keep my dh open to also be able to get CP for 2019-2020. Right now he is 3/24 so I'm leaning towards the SPG biz or Marriott biz to keep him there. Maybe a Marriott personal for the 4/24 and then double dip the SW end of the year. With all the chatter about the Marriott/SPG merger and cards maybe going away, I want to get them before they are gone.

 

[wendow]

Amex offers have been lately on DHs card. Anyone else getting anything good?

I just looked at all our Amex cards last night. Pathetic offers right now!

 

[pillow]

Amex offers have been lately on DHs card. Anyone else getting anything good?

Nothing interesting lately for me.

 

[elgerber]

Nothing interesting lately for me.

Me neither.

 

[wendow]

Some banks allow initial deposits with credit cards. I deposited $1K into each BMO Harris account (checking/savings/money market), I will pull out what money I can to my normal bank account and pay off my credit card from that account. I will do the work to keep the accounts fee free until I can close the accounts without an early closure fee. I researched ahead of time for DPs on people funding with SPG and I found out I had to open all the accounts at once and you can only open accounts once every 30(?) days.

DoC lists dollar amount limits for credit card funding as it varies bank to bank (bank doesn't always tell you how much they'll allow and you could fail out if you cross their limit).

Dangers: coding as a cash advance. Always look for DPs before you attempt it for your specific card to assure it won't post as a cash advance. Usually only accounts opened online work, credit cards run in-branch almost always code as cash advance. Ideally, drop your cash advance to $0 or as low as they will let it go, I think mine at chase are at $100, so if a bank tries to run it as a cash advance it will be denied. Also check to make sure the credit card issuer won't yank your bonus by looking at people's DPs. (Chase hasn't yanked anyone's bonuses yet for bank funding.)

Ideally hook this up with a bank bonus offer! Off the top of my head I remember Bank of the West, PNC & BMO Harris doing initial deposit via credit card. (Admittedly PNC failed to allow me to initial deposit by credit card, but many others have been successful. Maybe because my name didn't exactly match my credit card, I never did figure it out.) BoW and BMO Harris are state specific for bonuses and enforced, PNC is state specific but not enforced (could always change, I got it in CA). DoC comments are your guide for how to trigger bonuses. Since we're in tax season do remember that unlike credit card bonuses bank bonuses will trigger a 1099-INT and should be declared as interest income on your taxes.

This is a good guide for DPs on this: https://www.doctorofcredit.com/does...card-count-as-a-purchase-or-cash-advance/#PNC

How do you handle the direct deposits? Dh's is a PAIN to change!

 

[Lain]

Amex offers have been lately on DHs card. Anyone else getting anything good?

I feel like there’s a word missing here. Lol. But Amex Offers have been pretty stale lately. I feel like it gets this way after the holidays. Today I noticed an offer for 15% back from Starbucks up to $5 max, which is $33.34 in spend. There’s also an offer for $10 back on $40 spent at Etsy. Nothing that’s going to make me rush out or online to get this deal right away.

 

[pillow]

Some banks allow initial deposits with credit cards. I deposited $1K into each BMO Harris account (checking/savings/money market), I will pull out what money I can to my normal bank account and pay off my credit card from that account. I will do the work to keep the accounts fee free until I can close the accounts without an early closure fee. I researched ahead of time for DPs on people funding with SPG and I found out I had to open all the accounts at once and you can only open accounts once every 30(?) days.

DoC lists dollar amount limits for credit card funding as it varies bank to bank (bank doesn't always tell you how much they'll allow and you could fail out if you cross their limit).

Dangers: coding as a cash advance. Always look for DPs before you attempt it for your specific card to assure it won't post as a cash advance. Usually only accounts opened online work, credit cards run in-branch almost always code as cash advance. Ideally, drop your cash advance to $0 or as low as they will let it go, I think mine at chase are at $100, so if a bank tries to run it as a cash advance it will be denied. Also check to make sure the credit card issuer won't yank your bonus by looking at people's DPs. (Chase hasn't yanked anyone's bonuses yet for bank funding.)

Ideally hook this up with a bank bonus offer! Off the top of my head I remember Bank of the West, PNC & BMO Harris doing initial deposit via credit card. (Admittedly PNC failed to allow me to initial deposit by credit card, but many others have been successful. Maybe because my name didn't exactly match my credit card, I never did figure it out.) BoW and BMO Harris are state specific for bonuses and enforced, PNC is state specific but not enforced (could always change, I got it in CA). DoC comments are your guide for how to trigger bonuses. Since we're in tax season do remember that unlike credit card bonuses bank bonuses will trigger a 1099-INT and should be declared as interest income on your taxes.

This is a good guide for DPs on this: https://www.doctorofcredit.com/does...card-count-as-a-purchase-or-cash-advance/#PNC

PNC worked well for me - I believe it was a $300 bonus when I did it. We did this one twice. I opened one in DH's name first since his paycheck direct deposits met their requirement. Then after that bonus was received, I opened an account in my own name. Transfers from my CapitalOne 360 account coded for me as a direct deposit. Thanks @havaneselover for that tip!

 

[gottalovepluto]

How do you handle the direct deposits? Dh's is a PAIN to change!

Amongst my other responsibilities at work is running payroll. Takes me about 30 seconds in Quickbooks. Don't hate me! DoC comments can also help determine other methods, sometimes transfers from another bank will trigger as a "direct deposit", sometimes not. The DPs in the comments are your guiding light to finding out if it's possible to trigger a DD without a real DD.

 

[tink1970]

I just looked at all our Amex cards last night. Pathetic offers right now!

Nothing interesting lately for me.

Between my 5 Amexs and 3 AU accounts, it can take a while to wade through offers for me. I was just thinking this am that there wasn't anything that interested me (wish I drank wine!). Then DoC posted the Starbucks offer so although I also don't drink coffee, DD and DH can rack up that 10% back (up to $5) pretty quickly!

 

[gottalovepluto]

I feel like there’s a word missing here. Lol. But Amex Offers have been pretty stale lately. I feel like it gets this way after the holidays. Today I noticed an offer for 15% back from Starbucks up to $5 max, which is $33.34 in spend. There’s also an offer for $10 back on $40 spent at Etsy. Nothing that’s going to make me rush out or online to get this deal right away.

Ditto. Didn't even the Starbucks one on any of our cards.

 

[gottalovepluto]

Between my 5 Amexs and 3 AU accounts, it can take a while to wade through offers for me. I was just thinking this am that there wasn't anything that interested me (wish I drank wine!). Then DoC posted the Starbucks offer so although I also don't drink coffee, DD and DH can rack up that 10% back (up to $5) pretty quickly!

No wine or coffee? I. Can't. Even. You are going to live so much longer than I am!

 

[tink1970]

No wine or coffee? I. Can't. Even. You are going to live so much longer than I am!

LOL! Actually both have some positive health effects at moderate levels. I'm pretty sure my junk food/chocoholic lifestyle will take me first Fortunately Lent is coming up so I'll have 6 ish weeks of good behavior!

 

[tink1970]

But Amex Offers have been pretty stale lately. I feel like it gets this way after the holidays

I was thinking that, too. Hopefully they'll realize that by February most save money resolutions have failed and we're ready to spend again (oh, wait, I'm not the only one...right?).

 

[DaveL]

Earned my companion pass today, this has to be the fastest I have seen the points post; Statement closed yesterday and today the points were available and companion pass unlocked. I have not even gotten the Chase email yet the statement was available.

Anyway, I added my daughter to the summer flights I already booked and it issued her a different conf number. Does anyone know if you need to check in twice or does checking in the master conf number allow you to selected everyone?