- Centurion Member
- Posts: 1589
- Joined: Sun Jun 19, 2011 2:37 pm
- Location: Down South
nishant wrote:One important thing about Bluebird is that saving money from Bluebird comes from the way you load it.
How you spend it has no effect on profitability.
Of course it gives you flexibility in paying where conventional credit card are either not accepted or there is additional fee of which discourages use of credit card due to loss of money instead of saving money like property taxes.
For example, if your expenses are say $5000 per month i.e. $15,000 per quarter and if in your family- you have two city dividend cards and two Chase Freedom cards- enough to cover $15,000 per quarter for 5% rotating categories - You can save $21.05 (4.21%) per Vanilla Reload card of $500 or total saving of $632 in the first quarter on $15,000 spent.
Where as if you did not have any of above cards and are using only 2% cash back credit cards, then your saving will be only 1.21% or $182 on $15,000 spent.
In short, funding source directly affects Bluebird savings.
Don't forget that you can get Vanilla Reloads at gas stations. You can use the Freedom and Discover IT at those places to get VRs. Also, cards do promos on drugstores and other places randomly. I got a 5x point promo for drugstores on my Forward card. I bought a $500 reload with that card.
Keep in mind one more thing. I believe that it the Bluebird is an excellent way to get cash out of your credit cards without paying for a cash advance fee. This helps keep your cash in your bank account longer and allows you to earn interest. I know that interest rates aren't high right now, but every little bit helps.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape