Better Balance Rewards Card?

All about maximizing your rewards!
Members share tips and tricks for getting the most miles, & points.
6 posts
guitarlifter
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Better Balance Rewards Card?

Postby guitarlifter » Tue Mar 11, 2014 3:23 am

This looks to be like a potentially unique card. For those who are looking to maximize rewards, couldn't you just let this card sit and barely/not use it at all and just pay it off immediately whenever you use it? As long as the account is open, I couldn't find anything that says that you wouldn't get the $25 per quarter if you barely used the card at all.

For me, I have most categories giving me 2-5% cash back between all of my different credit cards, but if I can nab an extra $100 a year on the side just by having this card open, then why not? Is that how this card could potentially be used? Or am I missing something here?
Whats's in the wallet: Discover It - $3,800 (5% rotating, ShopDiscover), Sallie Mae Rewards MC - $1,000 (5% on gas, groceries, and Amazon), Chase Freedom Visa - $1,200 (5% rotating + 10% extra w/ Chase Total Checking), PayPal Extras MC (1.66% on PayPal, 2.5% on Restaurants- $3,000, Bank of America Cash Rewards Visa Signature - $5,000 (Signature benefits), PNC CashBuilder Visa - $1,000 (Don't use), Fidelity Investment Rewards Amex - $5,000 (2% on everything)

. . . and some store credit/charge cards.

Future cards:

-US Bank Cash+ (for the 5% categories)
-1-2 0% APR cards for some big purchases I'll be making within the year


samhradh
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Postby samhradh » Tue Mar 11, 2014 8:14 am

Yes. Do a search and you'll see it's been posted about before.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

RewardHop
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Postby RewardHop » Sun Mar 23, 2014 9:44 pm

guitarlifter wrote:For me, I have most categories giving me 2-5% cash back between all of my different credit cards, but if I can nab an extra $100 a year on the side just by having this card open, then why not? Is that how this card could potentially be used? Or am I missing something here?


Yeah plenty of people do exactly this, as do I. I charge my Internet bill to it and have autopay setup so I never have to touch it.
[size=60]
Amex BCE: 3% grocery, 2% gas
Bank of America Better Balance Rewards MC: $25/quarter bonus
Barclaycard Rewards Visa Signature: 2% gas, groceries, utilities
Capital One Quicksilver Visa Signature: 1.5% everything
Chase Freedom Visa Signature: 5% rotating
Citi Forward Visa: 5% restaurants/fastfood, movie theaters, amazon.com
Discover It: 5% rotating
SallieMae MC: 5% Groceries, Gas, Amazon
US Bank Cash+ Visa Signature: 5% electronic stores, restaurants
Sock Drawered: Chase Sapphire, Chase Amazon[/size]

haikuginger
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Postby haikuginger » Sun Mar 23, 2014 11:11 pm

The one trick is that you have to pay more than the minimum payment to get the rewards. So, you need to charge enough so that the minimum payment is actually less than the balance on the account, rather than being identical. Charge more than $50/month or so, and you should be fine.

samhradh
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Postby samhradh » Mon Mar 24, 2014 4:15 pm

haikuginger wrote:The one trick is that you have to pay more than the minimum payment to get the rewards.


Hadn't thought about that. I assumed the min payment was a flat percentage of the balance.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

guitarlifter
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Postby guitarlifter » Fri Apr 18, 2014 10:52 pm

haikuginger wrote:The one trick is that you have to pay more than the minimum payment to get the rewards. So, you need to charge enough so that the minimum payment is actually less than the balance on the account, rather than being identical. Charge more than $50/month or so, and you should be fine.


I read in another thread that the minimum is actually one cent. I'm thinking about getting this card perhaps later this year. A idea for me is that Amazon sells email gift cards that can be as low as 15 cents. Over the course of a year, that's $1.80 spent to make $100, and since it's all in amazon gift cards, it can be used at any time and for practically anything.

I was also thinking about opening a checking account with them and split my direct deposit of my paycheck between this one and my Chase checking account so that there's no checking fees with either account, but I'd get the extra $5 per quarter with BoA and 10% extra rewards on my Chase Freedom.
Whats's in the wallet: Discover It - $3,800 (5% rotating, ShopDiscover), Sallie Mae Rewards MC - $1,000 (5% on gas, groceries, and Amazon), Chase Freedom Visa - $1,200 (5% rotating + 10% extra w/ Chase Total Checking), PayPal Extras MC (1.66% on PayPal, 2.5% on Restaurants- $3,000, Bank of America Cash Rewards Visa Signature - $5,000 (Signature benefits), PNC CashBuilder Visa - $1,000 (Don't use), Fidelity Investment Rewards Amex - $5,000 (2% on everything)



. . . and some store credit/charge cards.



Future cards:



-US Bank Cash+ (for the 5% categories)

-1-2 0% APR cards for some big purchases I'll be making within the year



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