April 2017 Garden Club/Cult

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kdm31091
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Re: April 2017 Garden Club/Cult

Postby kdm31091 » Wed Apr 12, 2017 6:25 am

CarefulBuilder14 wrote:Taking the "big AF with a big travel credit" concept to a new extreme, in May US Bank will launch a $400 AF card with a $325 travel credit. It's definitely targeting CSR (good earn rates, good bonus, limited perks).

It looks like a pretty good card...until the nerfs begin!


I would expect it won't last long before nerfing, but we'll see. IIRC you have to be a US Bank customer to get it so they are somewhat restricting the customer base.


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PhillyPhoto
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Re: April 2017 Garden Club/Cult

Postby PhillyPhoto » Wed Apr 12, 2017 9:09 am

CarefulBuilder14 wrote:Anyone closing or seeking retention on cards?


I'll be closing my MB Platinum soon. I decided to request the replacement since it's the only way I'll get it, because I won't get the card again. Plus 2 metal cards is always better than 1:

Image

I've used the metal card a few times now, and haven't noticed any issues with it being too thick for readers. Plus it has a nice weight and feel to it.
Main Cards:
Amex: Ameriprise Plat, Surpass
Chase: Hyatt

Sock drawer Cards:
Amex: HHonors
Chase: Amazon Rewards, Freedom
Citi: Macy's Amex, Simplicity, ThankYou
Citizens Bank: Cash Back Plus World
Discover: it
Elan: Bank Rewards
Synchrony: PayPal

755 Eq (12/16)|748 TU (12/16)|726 Ex (1/17)

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CarefulBuilder14
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Re: April 2017 Garden Club/Cult

Postby CarefulBuilder14 » Wed Apr 12, 2017 10:50 am

kdm31091 wrote:
CarefulBuilder14 wrote:Taking the "big AF with a big travel credit" concept to a new extreme, in May US Bank will launch a $400 AF card with a $325 travel credit. It's definitely targeting CSR (good earn rates, good bonus, limited perks).

It looks like a pretty good card...until the nerfs begin!


I would expect it won't last long before nerfing, but we'll see. IIRC you have to be a US Bank customer to get it so they are somewhat restricting the customer base.

Maybe there will be a rush to open checking and savings accounts, fund them with toy balances, then close them after people have the card.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

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CarefulBuilder14
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Re: April 2017 Garden Club/Cult

Postby CarefulBuilder14 » Tue Apr 18, 2017 1:23 pm

A few thoughts:

I'm leaning towards PCing my Prestige to DC and keeping it instead of playing retention games which would very likely end in closure. I know what offers others have gotten, and they don't interest me. I can PC to DC and always close it later.

And as far as why I might close DC later...I really like the ability to pay income taxes by CC. I paid some of my income tax with SPG, and intend to do so in the future. I may go with BofA Travel Rewards (and move some stocks there) or some sort of other better-than-2% card. A lot of things become worth paying a processing fee on at 2.625%.

I'd have to look deeper into the redemption details, though.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

badger83
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Re: April 2017 Garden Club/Cult

Postby badger83 » Wed Apr 19, 2017 9:28 am

CarefulBuilder14 wrote:
And as far as why I might close DC later...I really like the ability to pay income taxes by CC. I paid some of my income tax with SPG, and intend to do so in the future. I may go with BofA Travel Rewards (and move some stocks there) or some sort of other better-than-2% card. A lot of things become worth paying a processing fee on at 2.625%.



Wait ... how do you get a 2.625% return on the Bofa Travel Rewards card?

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CarefulBuilder14
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Re: April 2017 Garden Club/Cult

Postby CarefulBuilder14 » Wed Apr 19, 2017 10:28 am

badger83 wrote:
CarefulBuilder14 wrote:
And as far as why I might close DC later...I really like the ability to pay income taxes by CC. I paid some of my income tax with SPG, and intend to do so in the future. I may go with BofA Travel Rewards (and move some stocks there) or some sort of other better-than-2% card. A lot of things become worth paying a processing fee on at 2.625%.



Wait ... how do you get a 2.625% return on the Bofa Travel Rewards card?

I'd open a brokerage account and move a little over $100k in stocks there that I don't intend to sell for many years. I believe that would qualify me for a 75% rewards bonus on rewards on certain proprietary cards like Travel Rewards. 1/2/3 Cash Rewards also participated (and becomes 1.75/3.5/5.25).

1.5% base rewards = 1.5%
1.5% * 75% bonus = 1.125%
Add together = 2.625%

So it would become like a supercharged Arrival+ with no AF.

There are four reasons I've not done this yet:
1. Several BofA and Merrill Edge horror stories. IT problems and fee switcheroos.
2. The bonus is only $200 in travel credit ($1k spend, 3 months). For additional taxes I owed this year, going with 35k SPG was far more lucrative. BofA Travel may earn more in the very long term, but that math falls apart if I go for a new bonus now and then.
3. General complexity. I have some sort of banking/brokerage/credit relationship with: Amex, Chase, Citi, Barclaycard, Discover, Schwab, Fidelity, Scottrade, e*trade, TD Ameritrade, and Wells Fargo. That list should probably become shorter before it becomes longer. I'll close the Wells Fargo account soon, and TD Ameritrade is buying Scottrade.
4. Opportunity cost. I can earn other promotions while they fix Merrill Edge.

The account complexity will diminish. #4 is small since BofA occasionally does promos, too. #1 is my main concern.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

Tubpbs
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Re: April 2017 Garden Club/Cult

Postby Tubpbs » Wed Apr 19, 2017 8:09 pm

What do you have with Wells Fargo?
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

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CarefulBuilder14
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Re: April 2017 Garden Club/Cult

Postby CarefulBuilder14 » Wed Apr 19, 2017 8:15 pm

Tubpbs wrote:What do you have with Wells Fargo?

Just the $250 promo for a savings account I haven't gotten around to closing. I've been using the debit card to buy tiny Amazon gift card balance reloads, though, so haven't paid them any fees.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

badger83
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Re: April 2017 Garden Club/Cult

Postby badger83 » Thu Apr 20, 2017 9:47 am

CarefulBuilder14 wrote:
Wait ... how do you get a 2.625% return on the Bofa Travel Rewards card?
I'd open a brokerage account and move a little over $100k in stocks there that I don't intend to sell for many years. I believe that would qualify me for a 75% rewards bonus on rewards on certain proprietary cards like Travel Rewards. 1/2/3 Cash Rewards also participated (and becomes 1.75/3.5/5.25).

1.5% base rewards = 1.5%
1.5% * 75% bonus = 1.125%
Add together = 2.625%

So it would become like a supercharged Arrival+ with no AF.

There are four reasons I've not done this yet:
1. Several BofA and Merrill Edge horror stories. IT problems and fee switcheroos.
2. The bonus is only $200 in travel credit ($1k spend, 3 months). For additional taxes I owed this year, going with 35k SPG was far more lucrative. BofA Travel may earn more in the very long term, but that math falls apart if I go for a new bonus now and then.
3. General complexity. I have some sort of banking/brokerage/credit relationship with: Amex, Chase, Citi, Barclaycard, Discover, Schwab, Fidelity, Scottrade, e*trade, TD Ameritrade, and Wells Fargo. That list should probably become shorter before it becomes longer. I'll close the Wells Fargo account soon, and TD Ameritrade is buying Scottrade.
4. Opportunity cost. I can earn other promotions while they fix Merrill Edge.

The account complexity will diminish. #4 is small since BofA occasionally does promos, too. #1 is my main concern.


Thanks for the explainer! I bank with BofA (for convenience because they have branches everywhere), but I'm hesitant to move all my money to them or even get a card with them due to some bad customer service I've received. That's a pretty impressive rewards return, though.

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CarefulBuilder14
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Re: April 2017 Garden Club/Cult

Postby CarefulBuilder14 » Thu Apr 20, 2017 11:20 am

badger83 wrote:Thanks for the explainer! I bank with BofA (for convenience because they have branches everywhere), but I'm hesitant to move all my money to them or even get a card with them due to some bad customer service I've received. That's a pretty impressive rewards return, though.

Yeah...great reviews of BofA are few and far between.

I'm really in no rush to go there. 2.625% is appealing, but occasional travel bonuses are more practical for now.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card



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