Reply
Frequent Contributor
Posts: 414
Registered: ‎11-30-2008
0

Re: Best general purpose cashback card

I don't know, if you've already got 6 maybe it's not a huge difference to make it 7. I missed a phone call today from a number I finally traced back to Schwab, so I called them to check the status of my app. They asked me a ton of income and debt questions, although didn't actually verify anything. Then put me on hold for 10 minutes, came back and asked me how much money I had left each month after paying my mortgage (uh, income -mortgage payment = your answer, dude) and after I answered that he said you're approved for $5000. I've recently opened WAMU (now Chase) and AMEX in December, and was approved for Alliant Credit Union this weekend all at $2500 so I'm really glad to be starting off with a $5000 CL. My two main cards are at $14,000 and $13,500 so I was having a hard time getting big purchases onto my AMEX to get it over the $6500 mark. I also got an extra card in my SO's name, so we can move everything onto this card. Might as well get as much of that 2% cash back!
Contributor
Posts: 123
Registered: ‎03-29-2009
0

Re: Best general purpose cashback card


Mank wrote:
I don't know, if you've already got 6 maybe it's not a huge difference to make it 7. I missed a phone call today from a number I finally traced back to Schwab, so I called them to check the status of my app. They asked me a ton of income and debt questions, although didn't actually verify anything. Then put me on hold for 10 minutes, came back and asked me how much money I had left each month after paying my mortgage (uh, income -mortgage payment = your answer, dude) and after I answered that he said you're approved for $5000. I've recently opened WAMU (now Chase) and AMEX in December, and was approved for Alliant Credit Union this weekend all at $2500 so I'm really glad to be starting off with a $5000 CL. My two main cards are at $14,000 and $13,500 so I was having a hard time getting big purchases onto my AMEX to get it over the $6500 mark. I also got an extra card in my SO's name, so we can move everything onto this card. Might as well get as much of that 2% cash back!

But isnt it the cash back goes into the brokerage account but not able to cash out?

-----------------------------------------------------
FICO pulled by loan officer on 8/3/2009
EQ: 724
EX: 740
TU: 742
Frequent Contributor
Posts: 414
Registered: ‎11-30-2008
0

Re: Best general purpose cashback card

I've never had any trouble transferring funds back and forth between my Schwab One account and my US Bank checking. I don't see why rewards funds would be any different.

 

Personally I like the idea of automatically putting $40 or $50 in my investment account every month. This card will be my mini retirement plan! :smileywink:

Contributor
Posts: 123
Registered: ‎03-29-2009
0

Re: Best general purpose cashback card


Mank wrote:
I don't know, if you've already got 6 maybe it's not a huge difference to make it 7.

I keep thinking about what you said, hahaha! Maybe it really wont make a huge difference. I felt like I'm trying too hard to get some more cash back. Down the road, if it does hurt my credit profile by numerous reasons down the road contributing by this action, the loans I take in teh future might cost me more money than a few hundred bucks.

-----------------------------------------------------
FICO pulled by loan officer on 8/3/2009
EQ: 724
EX: 740
TU: 742
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.