I love credit cards so much!

[trenty]

There is some nice chatter in the swagbucks thread about this one.

 

[1GoldenSun]

The best ones are ones you can open and fund the account with your new credit card too.

What does this mean? How does this work?

 

[Albort]

What does this mean? How does this work?

open new bank account. u have an option to fund the new bank account with a credit card. bank will charge your CC, deposit the amount charged into bank account.

 

[speedyfishy]

What does this mean? How does this work?

Some banks let you fund an intial deposit with a credit card. So you can open one fund it with a card you are hiting minimum spend on and go for a bonus. The good ones are PNC, BMO and memory bank. Memory bank is the only one that works with Amex cards. It allows $500 and comes with a $100 bonus. PNC you can do 2k for a checking account and 2k for savings. The checking bonus is between $50-300 depending on the account you open. BMO allows 1k in funding for each of their three accounts.

 

[1GoldenSun]

open new bank account. u have an option to fund the new bank account with a credit card. bank will charge your CC, deposit the amount charged into bank account.

Seriously? This is something you can do? What would be the purpose (besides getting the reward for opening the account)?

 

[elgerber]

Some banks let you fund an intial deposit with a credit card. So you can open one fund it with a card you are hiting minimum spend on and go for a bonus. The good ones are PNC, BMO and memory bank. Memory bank is the only one that works with Amex cards. It allows $500 and comes with a $100 bonus. PNC you can do 2k for a checking account and 2k for savings. The checking bonus is between $50-300 depending on the account you open. BMO allows 1k in funding for each of their three accounts.

Memory works with Amex still?

 

[Albort]

Seriously? This is something you can do? What would be the purpose (besides getting the reward for opening the account)?

yeah, but theres some restrictions u would have to follow. Not ALL banks allow this. Some that do allow it, has a limit on how much you can do it. Some also codes as cash advanced. It is also advisable that you leave the money there for a good 2-3 months. Some banks are also state restricted. for more information click here

 

[1GoldenSun]

Some banks let you fund an intial deposit with a credit card. So you can open one fund it with a card you are hiting minimum spend on and go for a bonus. The good ones are PNC, BMO and memory bank. Memory bank is the only one that works with Amex cards. It allows $500 and comes with a $100 bonus. PNC you can do 2k for a checking account and 2k for savings. The checking bonus is between $50-300 depending on the account you open. BMO allows 1k in funding for each of their three accounts.

I've read about this on this thread and just sort of overlooked it because I didn't begin to understand it and didn't feel I was ready to try.

So let me see if I have this straight. You open a banking account and charge your initial deposit on a new credit card for which you are working toward the minimum spend. Then you can use the "money" in that new bank account to pay the credit card bill when it comes due? So you're sort of shifting money around but it's never really yours? And you get a reward both for opening the bank account and for using the credit card? That's brilliant! But is funding a bank account considered a legitimate spend by the credit card companies?

 

[Albort]

I've read about this on this thread and just sort of overlooked it because I didn't begin to understand it and didn't feel I was ready to try.

So let me see if I have this straight. You open a banking account and charge your initial deposit on a new credit card for which you are working toward the minimum spend. Then you can use the "money" in that new bank account to pay the credit card bill when it comes due? So you're sort of shifting money around but it's never really yours? And you get a reward both for opening the bank account and for using the credit card? That's brilliant! But is funding a bank account considered a legitimate spend by the credit card companies?

you have to float that money. Ive seen people who do it too quickly, the bank will close your account and issue a refund back to the card.

 

[1GoldenSun]

Darn, I gotta take the kid to swim practice. This was getting so interesting!

 

[Alexle2007]

I was just approved yesterday for the CIP and can see it on my account along with my SW business card...not sure if it shows up instantly

I have no idea what is going on. It have checked the CIP account again and I went in under Chase.com/verify and there was nothing there. I know my Marriott showed up almost as soon as I was approved. Oh well! I’ll just keep checking.

 

[Alexle2007]

Darn, I gotta take the kid to swim practice. This was getting so interesting!

I know. I am off to a PTO meeting in the downpour we having. Thanks to thunder and dark clouds in the area, at least, we didn’t leave for tennis only to return home.

 

[jujubiee4]

Ok. So for those of you who use AMEX to get discounts. I did 2 of them today. $15 off $30 At Sams Club and $100 off $500 for Carnival Cruises. I put the offers on my card then went and did the transactions. Both show as pending. But was over on Cruise Critic and everyone was saying how they got an email from AMEX right after they purchased letting them know to watch for their credit. I have not received an email for either one. Is that normal or a bad sign??

Amex is rather fickle. When i have not received confirmation email instantly....I never got it and had to badger them.
Yesterday I did the amazon 2000 points offer and not only did i get the email instantly but the points were on my account
this morning. It wasn't even 24 hours.

When they are on they are on but when they aren't.........

 

[DisneyMandC]

DH is giving me the third degree about Plastiq now via text. Poor guy, me and my crazy schemes...

My DH texted me today commenting on rising gas prices. I responded that his new CIC would be 2% back on gas. He did not respond.

 

[speedyfishy]

Memory works with Amex still?

It worked for me last month.

I've read about this on this thread and just sort of overlooked it because I didn't begin to understand it and didn't feel I was ready to try.

So let me see if I have this straight. You open a banking account and charge your initial deposit on a new credit card for which you are working toward the minimum spend. Then you can use the "money" in that new bank account to pay the credit card bill when it comes due? So you're sort of shifting money around but it's never really yours? And you get a reward both for opening the bank account and for using the credit card? That's brilliant! But is funding a bank account considered a legitimate spend by the credit card companies?

Yeah, essentially. The banks have different requirements to keep the account fee free and they have different requirements for getting a bonus. Some you need a direct deposit or debit card transactions. Read the doctor of credit bank bonus requirements. Also, set your cash advance limit low just incase it wants to code as a cash advance.

Here is PNC, https://www.doctorofcredit.com/pnc-300-checking/

I just did this with my SO’s CIP for $200 bonus. A transfer from my chase account codes as a direct deposit. I did 10 debit card transactions by reloading my amazon giftcard balance.

BMO- https://www.doctorofcredit.com/bmo-harris-200-checking-bonus-available-nationwide-2/

Memory- this is the easiet one you just need to transfer $200 3x.


https://www.doctorofcredit.com/memorybank-100-signup-bonus-earnmore-1-6-apy-checking/

 

[CyndiLouWho]

Okay thanks! I can't see flights yet for next May, but I'll make sure to look at both United and Delta to really compare.

I'm not sure if we are going to get a CSR or not. We are definitely getting two CIP cards if we get approved and then will have to decide after if we want to get the CSR or not.

Start looking at flights in the weeks before your dates open up. We’re going to Vancouver in May 2019 and I’ve been watching the flights in February and March to see what awards are available and which flights I will want to jump on when my dates open

 

[CyndiLouWho]

This is my first step to try to start gathering points for a trip to Korea in 2020 or 2021! (We are adopting). Don’t feel gutsy enough for double dips and other awesome gutsy stuff but beginner level stuff is good.

Congrats on your pending adoption! My DS was adopted from China. I need to start saving miles for a heritage trip back to China. Wish I had know about miles & points back then.

 

[CyndiLouWho]

I purposely don't sign up for paperless credit card statements for this very reason.

I just can’t deal with all the paper.

 

[CyndiLouWho]

thank god I'm single... I don't have to explain to my SO that I bought a phone for churning purposes...

Yeah I’m married and I don’t have to explain either. DH doesn’t care about any of it. Or finances in general. If I die tomorrow he’s screwed.

 

[gottalovepluto]

So...I am paperless for my Chase Cards. Should I change that in hopes of getting the offer? I hate getting the statements in the mail, but 500 points is 500 points......

Imho no, 500 points is peanuts tbh and not worth dealing with paper stmts. As bummed as I am to miss out on 500 points I wouldn't actually give up my paperless statements for the chance at $7.50 (what URs are worth to me). Also, Chase is kind enough to print your entire card number on statements- do you really want that stolen if you mail gets stolen (speaking from experience where we had our neighborhood box broken into and I'm glad this is one thing i wasn't worried about).