Credit card with large cash (or cash-equivalent) sign-up bonus

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rjbraun
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Credit card with large cash (or cash-equivalent) sign-up bonus

Post by rjbraun » Mon Aug 14, 2017 3:39 pm

Have a couple of larger expenses coming up and would like to tee up a card where these charges can be applied to meeting the minimum spend for a sign-up bonus.

SO would apply and is probably ineligible for a Chase card (given "5/24 rule", plus he already has CSR and CSP anyway). Apart from Ultimate Reward points, we probably just want straight cash (or points that can be converted at a decent rate to cash). We do travel, so a travel card might work, but I'm just trying to keep things fairly simple and not accumulate airline or hotel points that might not be so easy to use, especially as the balance will be unlikely to grow much once the signup bonus is met. In addition to CSR and CSP, he has Chase IHG, Amex SPG and a Cap One Quicksilver card.

I guess the Barclay ArrivalPlus card is worth $500 in travel expenses, with no annual fee (AF) year 1. Bank of America's new premium Travel Rewards card comes with a $95 AF and also won't roll out until next month, which would be later than we would want to wait.

Any other cards to consider?

mega317
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by mega317 » Mon Aug 14, 2017 4:04 pm

Straight cash--a lot of options
Wells Fargo Cash Wise $200 for 1k spend.
Amex Blue Cash Preferred $150 for 1k spend.
BofA cash rewards $150 for 500 spend
Ally $100 for 500 spend
Barclay Cash Forward $200 for 1k spend
The list goes on and on just google any bank you can think of, look at NerdWallet and creditcards.com

Cap One Venture 40,000 miles = $400 for travel or $200 cash for 3k spend, no points accumulating with any program.

runner3081
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by runner3081 » Mon Aug 14, 2017 4:05 pm

Not huge, but ELFCU has a $300 reward after only $1K of spend.

Did this 2 months ago, no issues at all. Membership is easy ($5 Tru Direction membership fee).

https://www.elements.org/credit-cards/

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Earl Lemongrab
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by Earl Lemongrab » Mon Aug 14, 2017 4:10 pm

mega317 wrote:
Mon Aug 14, 2017 4:04 pm
Wells Fargo Cash Wise $200 for 1k spend.
I try to get a new card each year when my insurance is due as that's an easy way to guarantee minimum spending. This is the card I got this year. Decent option, not too much in spending, plus it's 1.5% cash back in addition to the bonus so I didn't lose too much there compared to my 1.75% BOA card, about $5.

https://www.wellsfargo.com/credit-cards/visa-wise/
This week's fortune cookie: "The stock market may be your ticket to success." I sure hope so!

hightower
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by hightower » Mon Aug 14, 2017 4:11 pm

Chase Sapphire Preferred (https://creditcards.chase.com/credit-ca ... 8&cardId=4)
After spending 4k in the first 90 days you get 50k bonus points. These can be redeemed for $650 in travel rewards or $500 cash. The first year's fee is waived and you can cancel the card before you ever get charged. (This is the card that used to give a 100K bonus point reward and they cancelled it because they were losing so much money from the offer).
I already took advantage of the 100k bonus reward several months ago. Now I signed my wife up for this one (wish I would have signed her up before) and we're using it to pay for painting our house which will give us 500 dollars off the price because of this card. Pretty sweet deal.

rocket354
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by rocket354 » Mon Aug 14, 2017 5:15 pm

Merill+ Visa card. Do a google search for 50k point sign-up bonus (takes a 10 min phone call rather than an online app). You get 50,000 points after spending $3k in 3 months. With the existing 1% rewards, you get 53k points which can be converted into $530 cash, $583 cash if you deposit into a BoA account (10% bonus), or redeem for up to two RT flights each with a value up to $500.

rjbraun
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by rjbraun » Thu Aug 17, 2017 4:25 pm

rocket354 wrote:
Mon Aug 14, 2017 5:15 pm
Merill+ Visa card. Do a google search for 50k point sign-up bonus (takes a 10 min phone call rather than an online app). You get 50,000 points after spending $3k in 3 months. With the existing 1% rewards, you get 53k points which can be converted into $530 cash, $583 cash if you deposit into a BoA account (10% bonus), or redeem for up to two RT flights each with a value up to $500.
Thank you. Would the $530 cash be in the form of a statement credit? SO doesn't have a BoA account and wouldn't want to open one.

rocket354
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by rocket354 » Thu Aug 17, 2017 10:02 pm

rjbraun wrote:
Thu Aug 17, 2017 4:25 pm
rocket354 wrote:
Mon Aug 14, 2017 5:15 pm
Merill+ Visa card. Do a google search for 50k point sign-up bonus (takes a 10 min phone call rather than an online app). You get 50,000 points after spending $3k in 3 months. With the existing 1% rewards, you get 53k points which can be converted into $530 cash, $583 cash if you deposit into a BoA account (10% bonus), or redeem for up to two RT flights each with a value up to $500.
Thank you. Would the $530 cash be in the form of a statement credit? SO doesn't have a BoA account and wouldn't want to open one.
If you do open a BoA account, you can get another $300 bonus with a few DDs.

But if you prefer not to open one, you can take the $530 as a statement credit.

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F150HD
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by F150HD » Thu Aug 17, 2017 10:19 pm

rjbraun wrote:
Mon Aug 14, 2017 3:39 pm
Barclay ArrivalPlus card
If this is the card you are referring to https://home.barclaycardus.com/cards/ba ... rcard.html I got it 2 years back for the big 'sign up bonus' and used it to pay for a trip to New Orleans 2 years back. All was well.

BUT, unbeknownst to me last June, they changed the rules which prevented me from using my miles to pay hotel bills on a big trip out east, so I got rid of the card.

Issue was, they changed it so you could not redeem miles/points for hotels unless you spent $100 or more. For example, if I only paid $95 for a hotel, I could not pay for it w/ the miles/points I earned. Really irritated me as a good portion of my trip lodging would have been paid for with my accumulated miles/points.

Also, some places when you book multiple days, they actually charge the first day up front, and you pay the balance upon arrival. One place in New Hampshire we stayed for 2 days. They charged the first $90 when I booked, then charged the second $90 when I arrived- hence, I could not use my accrued miles/points to pay for the lodging as it was two charges for $90 instead of 'one' for $180.

The $100 spending floor was a deal-breaker, as it forces one to stay at more expensive lodging.

Unless you're using it for 'big' purchases' (RT airfare etc) might not be an issue for you. The annual fee s*cked too. Free the first year, paid it w/ miles the second year.

Anyway, its gone.

rjbraun
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by rjbraun » Fri Aug 18, 2017 8:52 am

rocket354 wrote:
Thu Aug 17, 2017 10:02 pm
rjbraun wrote:
Thu Aug 17, 2017 4:25 pm
rocket354 wrote:
Mon Aug 14, 2017 5:15 pm
Merill+ Visa card. Do a google search for 50k point sign-up bonus (takes a 10 min phone call rather than an online app). You get 50,000 points after spending $3k in 3 months. With the existing 1% rewards, you get 53k points which can be converted into $530 cash, $583 cash if you deposit into a BoA account (10% bonus), or redeem for up to two RT flights each with a value up to $500.
Thank you. Would the $530 cash be in the form of a statement credit? SO doesn't have a BoA account and wouldn't want to open one.
If you do open a BoA account, you can get another $300 bonus with a few DDs.

But if you prefer not to open one, you can take the $530 as a statement credit.
Wow, that's tempting to collect another $300 bonus with a few DDs. Eh, tough call. I just know SO isn't so eager to engage in these credit card sign-ups, so I try to involve him as little as possible. I'm still just under 5/24 and holding out for a Chase United card if I can get a 70k signup bonus and / or a Chase Sapphire Preferred once my 2-year anniversary should roll around early fall. Otherwise, I would just apply for the card myself.

Is the number shown in the link below the phone call you referenced (not asking about specific phone #, more that it's not direct to Merrill)? I called the number and they seem to be a 3rd-party that handles the card application. I was just surprised as I thought in my experience I dealt directly with the financial institution itself. I mean, okay, I understand if it's outsourced, but the rep answering the phone still says they are with Chase, etc.

https://www.uscreditcardguide.com/merri ... edit-card/
Last edited by rjbraun on Fri Aug 18, 2017 9:02 am, edited 1 time in total.

rjbraun
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by rjbraun » Fri Aug 18, 2017 9:01 am

F150HD wrote:
Thu Aug 17, 2017 10:19 pm
rjbraun wrote:
Mon Aug 14, 2017 3:39 pm
Barclay ArrivalPlus card
If this is the card you are referring to https://home.barclaycardus.com/cards/ba ... rcard.html I got it 2 years back for the big 'sign up bonus' and used it to pay for a trip to New Orleans 2 years back. All was well.

BUT, unbeknownst to me last June, they changed the rules which prevented me from using my miles to pay hotel bills on a big trip out east, so I got rid of the card.

Issue was, they changed it so you could not redeem miles/points for hotels unless you spent $100 or more. For example, if I only paid $95 for a hotel, I could not pay for it w/ the miles/points I earned. Really irritated me as a good portion of my trip lodging would have been paid for with my accumulated miles/points.

Also, some places when you book multiple days, they actually charge the first day up front, and you pay the balance upon arrival. One place in New Hampshire we stayed for 2 days. They charged the first $90 when I booked, then charged the second $90 when I arrived- hence, I could not use my accrued miles/points to pay for the lodging as it was two charges for $90 instead of 'one' for $180.

The $100 spending floor was a deal-breaker, as it forces one to stay at more expensive lodging.

Unless you're using it for 'big' purchases' (RT airfare etc) might not be an issue for you. The annual fee s*cked too. Free the first year, paid it w/ miles the second year.

Anyway, its gone.
Thanks very much, F150HD. This is good information to have! :D

Yes, that's the card I am referring to. I had one previously but was not aware of the changes you described. The new terms definitely don't work so well for me, either. Limiting the points to flights isn't so good, especially as we try to charge travel to the Chase Sapphire Reserve card to take advantage of the card's trip protection benefits.

Also, I found the BarclayArrival card benefits / points less straightforward to use / decipher and canceled after the first year. No regrets, but in a pinch I might consider "churning", but it wouldn't be my first choice.

rjbraun
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by rjbraun » Fri Aug 18, 2017 9:07 am

runner3081 wrote:
Mon Aug 14, 2017 4:05 pm
Not huge, but ELFCU has a $300 reward after only $1K of spend.

Did this 2 months ago, no issues at all. Membership is easy ($5 Tru Direction membership fee).

https://www.elements.org/credit-cards/
That's a pretty sweet bonus for not a lot of minimum spend. Given SO isn't so keen on signing for new cards, I'm kind of trying to focus on more "mainstream" institutions (or at least names he would be familiar with). I just need his help as I am trying to stay under 5/24, at least until I can hopefully get another Chase card or two.

Thanks for the tip, though. I would think it's an attractive offer for some of the more active BH credit card "players".

rocket354
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by rocket354 » Fri Aug 18, 2017 11:30 pm

rjbraun wrote:
Fri Aug 18, 2017 8:52 am
rocket354 wrote:
Thu Aug 17, 2017 10:02 pm
rjbraun wrote:
Thu Aug 17, 2017 4:25 pm
rocket354 wrote:
Mon Aug 14, 2017 5:15 pm
Merill+ Visa card. Do a google search for 50k point sign-up bonus (takes a 10 min phone call rather than an online app). You get 50,000 points after spending $3k in 3 months. With the existing 1% rewards, you get 53k points which can be converted into $530 cash, $583 cash if you deposit into a BoA account (10% bonus), or redeem for up to two RT flights each with a value up to $500.
Thank you. Would the $530 cash be in the form of a statement credit? SO doesn't have a BoA account and wouldn't want to open one.
If you do open a BoA account, you can get another $300 bonus with a few DDs.

But if you prefer not to open one, you can take the $530 as a statement credit.
Wow, that's tempting to collect another $300 bonus with a few DDs. Eh, tough call. I just know SO isn't so eager to engage in these credit card sign-ups, so I try to involve him as little as possible. I'm still just under 5/24 and holding out for a Chase United card if I can get a 70k signup bonus and / or a Chase Sapphire Preferred once my 2-year anniversary should roll around early fall. Otherwise, I would just apply for the card myself.

Is the number shown in the link below the phone call you referenced (not asking about specific phone #, more that it's not direct to Merrill)? I called the number and they seem to be a 3rd-party that handles the card application. I was just surprised as I thought in my experience I dealt directly with the financial institution itself. I mean, okay, I understand if it's outsourced, but the rep answering the phone still says they are with Chase, etc.

https://www.uscreditcardguide.com/merri ... edit-card/
That's the one I used. No problems.

student
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by student » Sat Aug 19, 2017 6:34 am

According to rumors, Merrill+ will be discontinued next month. So better apply soon.

Markr867
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by Markr867 » Sat Aug 19, 2017 7:08 am

rocket354 wrote:
Thu Aug 17, 2017 10:02 pm
rjbraun wrote:
Thu Aug 17, 2017 4:25 pm
rocket354 wrote:
Mon Aug 14, 2017 5:15 pm
Merill+ Visa card. Do a google search for 50k point sign-up bonus (takes a 10 min phone call rather than an online app). You get 50,000 points after spending $3k in 3 months. With the existing 1% rewards, you get 53k points which can be converted into $530 cash, $583 cash if you deposit into a BoA account (10% bonus), or redeem for up to two RT flights each with a value up to $500.
Thank you. Would the $530 cash be in the form of a statement credit? SO doesn't have a BoA account and wouldn't want to open one.
If you do open a BoA account, you can get another $300 bonus with a few DDs.

But if you prefer not to open one, you can take the $530 as a statement credit.
How did you generate the $300 checking offer? I opened up a Merrill card in June, met the spend in July, and I do not have the targeted $300 checking offer. This is my only relationship with BoA, but I would gladly open the checking if I could get $300. It seems like one of the easier bank bonuses to get, if you can get targeted.

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susa
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by susa » Sat Aug 19, 2017 8:07 am

Markr867 wrote: How did you generate the $300 checking offer?
Read the list and the detailed comments
https://www.doctorofcredit.com/best-ban ... t-bonuses/

JBTX
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by JBTX » Sat Aug 19, 2017 10:20 am

rocket354 wrote:
Fri Aug 18, 2017 11:30 pm
rjbraun wrote:
Fri Aug 18, 2017 8:52 am
rocket354 wrote:
Thu Aug 17, 2017 10:02 pm
rjbraun wrote:
Thu Aug 17, 2017 4:25 pm
rocket354 wrote:
Mon Aug 14, 2017 5:15 pm
Merill+ Visa card. Do a google search for 50k point sign-up bonus (takes a 10 min phone call rather than an online app). You get 50,000 points after spending $3k in 3 months. With the existing 1% rewards, you get 53k points which can be converted into $530 cash, $583 cash if you deposit into a BoA account (10% bonus), or redeem for up to two RT flights each with a value up to $500.
Thank you. Would the $530 cash be in the form of a statement credit? SO doesn't have a BoA account and wouldn't want to open one.
If you do open a BoA account, you can get another $300 bonus with a few DDs.

But if you prefer not to open one, you can take the $530 as a statement credit.
Wow, that's tempting to collect another $300 bonus with a few DDs. Eh, tough call. I just know SO isn't so eager to engage in these credit card sign-ups, so I try to involve him as little as possible. I'm still just under 5/24 and holding out for a Chase United card if I can get a 70k signup bonus and / or a Chase Sapphire Preferred once my 2-year anniversary should roll around early fall. Otherwise, I would just apply for the card myself.

Is the number shown in the link below the phone call you referenced (not asking about specific phone #, more that it's not direct to Merrill)? I called the number and they seem to be a 3rd-party that handles the card application. I was just surprised as I thought in my experience I dealt directly with the financial institution itself. I mean, okay, I understand if it's outsourced, but the rep answering the phone still says they are with Chase, etc.

https://www.uscreditcardguide.com/merri ... edit-card/
That's the one I used. No problems.


I just applied for this one. The application phone call took almost 30 minutes. It was "referred"' so I don't know status. However it isn't uncommon for my applications to get referred. They are usually approved within a day. Any ideas why his referral happens? My credit scores are in the top tier.

rjbraun
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by rjbraun » Sat Aug 19, 2017 11:13 am

JBTX wrote:
Sat Aug 19, 2017 10:20 am
I just applied for this one. The application phone call took almost 30 minutes. It was "referred"' so I don't know status. However it isn't uncommon for my applications to get referred. They are usually approved within a day. Any ideas why his referral happens? My credit scores are in the top tier.
I'm not sure exactly what you mean by "referred". When I called to inquire about the card (in an attempt to tee things up for SO's possible application), I basically asked how long a decision would take. Rep said decision would be immediate, which I took to mean the applicant would know by the end of the phone call, but then she added that it could go to review. Assuming that is what you mean by referred, while I don't know what it means in the particular case of the Merrill card, in my experience when a card wasn't approved instantly, we (SO or I) always got approved within, maybe a week or so, with no intervention on our part - with one exception.

The last card we each applied for was Chase IHG Rewards (which I have posted about). Based on feedback from other BHs (thank you again), after not getting an immediate approval I went ahead and called the Chase "reconsideration line". The rep assured me that Chase values the relationship, etc. (I am Chase Private Client, if that matters, though I think I actually have been below the account minimum for a while now) but the bank didn't want to extend more credit to me. I was able to pick which cards to reduce credit lines with and apply to IHG card. I have Chase Ink Business Preferred, Chase Sapphire Reserve and Chase Freedom and reallocated some to come up with credit line for IHG card, so Chase's overall exposure was unchanged, and Chase issued me the card.

SO went through similar exercise and also got his card issued.

My credit score was 800+ last I checked (about time of IHG application). SO's was 780 when I checked recently, reportedly reduced due to having opened several cards recently; no issue with late payments, always pays bill in full each month.

My quandary now is whether to encourage him to apply for Merrill card. I guess I want to avoid a credit pull to his record if he may get rejected. Also not sure he has the patience for a 30-minute phone interview.

Anyway, hope some of this background may be helpful to your situation.

How could the call have lasted 30 minutes? Was it a full 1/2-hour of actual questioning or was there a lot of hold time?

JBTX
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by JBTX » Sat Aug 19, 2017 11:29 am

rjbraun wrote:
Sat Aug 19, 2017 11:13 am
JBTX wrote:
Sat Aug 19, 2017 10:20 am
I just applied for this one. The application phone call took almost 30 minutes. It was "referred"' so I don't know status. However it isn't uncommon for my applications to get referred. They are usually approved within a day. Any ideas why his referral happens? My credit scores are in the top tier.
I'm not sure exactly what you mean by "referred". When I called to inquire about the card (in an attempt to tee things up for SO's possible application), I basically asked how long a decision would take. Rep said decision would be immediate, which I took to mean the applicant would know by the end of the phone call, but then she added that it could go to review. Assuming that is what you mean by referred, while I don't know what it means in the particular case of the Merrill card, in my experience when a card wasn't approved instantly, we (SO or I) always got approved within, maybe a week or so, with no intervention on our part - with one exception.

The last card we each applied for was Chase IHG Rewards (which I have posted about). Based on feedback from other BHs (thank you again), after not getting an immediate approval I went ahead and called the Chase "reconsideration line". The rep assured me that Chase values the relationship, etc. (I am Chase Private Client, if that matters, though I think I actually have been below the account minimum for a while now) but the bank didn't want to extend more credit to me. I was able to pick which cards to reduce credit lines with and apply to IHG card. I have Chase Ink Business Preferred, Chase Sapphire Reserve and Chase Freedom and reallocated some to come up with credit line for IHG card, so Chase's overall exposure was unchanged, and Chase issued me the card.

SO went through similar exercise and also got his card issued.

My credit score was 800+ last I checked (about time of IHG application). SO's was 780 when I checked recently, reportedly reduced due to having opened several cards recently; no issue with late payments, always pays bill in full each month.

My quandary now is whether to encourage him to apply for Merrill card. I guess I want to avoid a credit pull to his record if he may get rejected. Also not sure he has the patience for a 30-minute phone interview.

Anyway, hope some of this background may be helpful to your situation.

How could the call have lasted 30 minutes? Was it a full 1/2-hour of actual questioning or was there a lot of hold time?
Yes you are correct it is under review. Like you said most times it is approved in the next business day or so. I am just curious what causes it to go to review vs instantaneous approval.

As to half hour I waited on hold maybe 5 minutes then rest of call was giving them all of my personal information and listening to their recitation of All of the card features and terms. I added a few minutes by putting my wife on card. Probably shouldn't have done that since this may not be long term keeper.

I was waiting for my daughter in car during her hour long dance class so not a real big deal but it was a bit of a beat down.

rjbraun
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by rjbraun » Sat Aug 19, 2017 12:10 pm

JBTX wrote:
Sat Aug 19, 2017 11:29 am
Yes you are correct it is under review. Like you said most times it is approved in the next business day or so. I am just curious what causes it to go to review vs instantaneous approval.
According to the millionmilesecrets.com article linked below, review can stem from several reasons:

- inconsistent application information
- fraud prevention (e.g., applying for two cards in same day)
- income verification
- credit reports concerns (e.g., incorrect or explainable credit report issue)
- busy at the bank (bank waits to review later)

https://millionmilesecrets.com/2016/05/ ... ese-steps/

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susa
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by susa » Wed Sep 06, 2017 12:45 pm

rocket354 wrote: Merill+ Visa card. Do a google search for 50k point sign-up bonus (takes a 10 min phone call rather than an online app). You get 50,000 points after spending $3k in 3 months. With the existing 1% rewards, you get 53k points which can be converted into $530 cash, $583 cash if you deposit into a BoA account (10% bonus),,,
Just a heads up.

I met the 3000 spending yesterday and cycle cutoff is in five days. Called Merrill+Visa customer service and asked if they can setup Automatic Redemption for the 50,000 points to post to my BofA Checking as I can not do it online when I click on the REWARDS button.

They said, Yes, we can do that and By-The-Way you do not get a 10% bonus from BofA for posting the cash rebate (only 500.00).

ND Fan 1
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by ND Fan 1 » Thu Sep 07, 2017 10:15 am

The Citi Prestige currently has a 75K bonus on $7.5 spend. The points can be converted to statement credit at 1 cent per point. It does have a $450 annual fee. It also has a $250 airline credit you can "double dip" the first year, so potentially another $500 in cash back. If you don't spend on airlines, you can buy a airlines gift card and resell for a 10% discount on 3rd party gift card re-sell sites.

If you have large enough purchase, plus are willing to deal with the travel credit, it could be a $750 or so bonus.

rg422
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by rg422 » Thu Sep 07, 2017 12:07 pm

I received this in my email this morning.....

Fine print shows you have to spend $1,000 within the first 3 months of activation to earn 50,000 points, then spend another $1,000 within 6 months to earn the next 25,000 points, for a total of 75,000 points!!

No annual fee, either.

http://h1.hilton.com/a/hBZsVDsAJZxlvB9f ... anguage=EN

Buffetologist
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by Buffetologist » Tue Sep 12, 2017 2:36 pm

runner3081 wrote:
Mon Aug 14, 2017 4:05 pm
Not huge, but ELFCU has a $300 reward after only $1K of spend.

Did this 2 months ago, no issues at all. Membership is easy ($5 Tru Direction membership fee).

https://www.elements.org/credit-cards/
I'm a high net worth individual. I got rejected for membership in the credit union using TruDirection.

Any reason ELFCU would reject my application to join?

SRenaeP
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Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by SRenaeP » Tue Sep 12, 2017 3:16 pm

ND Fan 1 wrote:
Thu Sep 07, 2017 10:15 am
The Citi Prestige currently has a 75K bonus on $7.5 spend. The points can be converted to statement credit at 1 cent per point. It does have a $450 annual fee. It also has a $250 airline credit you can "double dip" the first year, so potentially another $500 in cash back. If you don't spend on airlines, you can buy a airlines gift card and resell for a 10% discount on 3rd party gift card re-sell sites.

If you have large enough purchase, plus are willing to deal with the travel credit, it could be a $750 or so bonus.
I've previously dismissed the Citi Prestige because of the high minimum spend (I don't MS). However, after reading elsewhere about paying taxes via CC, I'm reconsidering. Basically I'm looking for someone to check my math/logic here.

I can pay $7500 for a 1.87% fee. So $140.25 fee plus $450 AF = $590.25 out of pocket. But with the double dip airline credit, that's reduced to $90.25. So for $90, I get 75k points which are worth at least $750. Seems like a no brainer to me. Anyone disagree?

-Steph

runner3081
Posts: 561
Joined: Mon Aug 22, 2016 3:22 pm

Re: Credit card with large cash (or cash-equivalent) sign-up bonus

Post by runner3081 » Tue Sep 12, 2017 4:17 pm

Buffetologist wrote:
Tue Sep 12, 2017 2:36 pm
runner3081 wrote:
Mon Aug 14, 2017 4:05 pm
Not huge, but ELFCU has a $300 reward after only $1K of spend.

Did this 2 months ago, no issues at all. Membership is easy ($5 Tru Direction membership fee).

https://www.elements.org/credit-cards/
I'm a high net worth individual. I got rejected for membership in the credit union using TruDirection.

Any reason ELFCU would reject my application to join?
Odd, no clue.

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