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Frequent Contributor
enxinas
Posts: 269
Registered: ‎06-08-2013
0

Re: Chargesmart.com

[ Edited ]

Open123 wrote:

jenn_bar wrote:

Very true, but I need to get it as a check....

 

Can you get a money order with a gift card since it's considered cash?


Here's what *I* would do if a Walmart were close to me.  I'd pay rent in one of two ways.

 

1.  Get a rewards debit card, such as the BofA Alaska Airline.  It earns rewards of 0.50 miles per dollar, but you can use it to load your Bluebird account free of charge at a Walmart.  Once funded, use Bluebird's bill pay to send a physical check payable to your landlord, just as you would any other bill pay service at a deposit institution.  With your rent, you'd earn 8,040 Alaska miles per year for a nominal fee of $30 for the debit card.

 

2.  Use a 5X rewards credit card to buy prepaid debit cards with a pin# at the higest denomination you can find at places where you receive 5X the points, e.g. supermarkets, office stores, drugstores.  Use the debit cards to fund your Bluebird at a Walmart just as in step 1, then send out a check. The 5X return will more than make up for any fee you incur with the prepaid gift card purchase.

 

I'm not suggesting you should do this, but merely this is what *I* would do, if I were in your position.  :smileywink:  With option #2, you can earn a rebate of approx $200 - $300 per year just by paying rent.



#2 is exactly what I'm thinking lol

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Frequent Contributor
jenn_bar
Posts: 315
Registered: ‎05-24-2013
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Re: Chargesmart.com


enharu wrote:

To OP: 

 

Open pretty much understood what I meant. Sorry if it wasn't clear.

But you shouldn't buy gift cards using your BCP. You have no problems meeting the cap anyhow, so it's pointless to buy GCs using your BCP. American Express is also probably the most sensitive out of all lenders when it comes to GC purchases, so it's best to go easy on your Amex cards.

 

Like Open said, Chase UR points can be worth 2-4ccp if you redeem it the right way. So even if it's a 1:1 exchange where you're basically breaking even, it might still be worthwhile if you're hell bent on squeezing those few cents out. It honestly boils down to how much free time you have or whether you're bothered enough to go through this trouble.

 

Like all things in life, do it in moderation if you want to keep the account. Banks do not like it when you make visa / VR purchases using credit cards. However, 1-2k in GC purchases each month most likely shouldn't cause any problems in most scenarios. 


I don't know how quickly we would redeem the UR have two years of school and a part-time job; however, the availability may change that. I know we will use the two free Hyatt nights in New York over my Spring Break in 2014.

 

After thinking about it, I think it would be best to use the CSP each month so that way I can transfer it to Hyatt points if I need to do so. Most importantly, I will also be racking up SW RR which I fly every few months back home to CA.

 

@Open: I took at look at the Hilton Amex and thought about canceling my VIsa Hyatt (or just not activating it) and getting that, but the Silver Status of the Hilton card doesn't match how I will be treated as a Hyatt member. Plus, I don't even know if I would qualify after the hit I took Sunday night with the two apps! The odds of getting to $20k a year to get gold status is slim while using BCP for groceries, Amex Costco for gas, and our utilties are about $2k/year. I wish I could justify shopping more! :smileyhappy:

Senior Contributor
Open123
Posts: 4,155
Registered: ‎02-23-2011
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Re: Chargesmart.com

[ Edited ]

jenn_bar wrote:

@Open: I took at look at the Hilton Amex and thought about canceling my VIsa Hyatt (or just not activating it) and getting that, but the Silver Status of the Hilton card doesn't match how I will be treated as a Hyatt member. Plus, I don't even know if I would qualify after the hit I took Sunday night with the two apps! The odds of getting to $20k a year to get gold status is slim while using BCP for groceries, Amex Costco for gas, and our utilties are about $2k/year. I wish I could justify shopping more! :smileyhappy:


Your Hyatt card is excellent and you shouldn't cancel it.  Enjoy your two free nights.  

 

The Hilton will there in 3, 6 or 8 months from now; or, even next year.  Ideally, Amex cards should be applied for in January.  You'll find the CC market extremely fluid. The industry moves so quickly, that in 6 or 12 months, the entire landscape will have changed from points devaluations, sign-up bonuses changes and new rewards systems. The key is to take action *now* based on what will *be* in 6 - 12 months.

 

In other words, place the future into the service of the present.

 

PS - To add, don't think of a card limit restriction.  If the rewards justifies it, you can have up to 10 cards with no repercussions, except for pondering whether to travel first or business class.

Frequent Contributor
jenn_bar
Posts: 315
Registered: ‎05-24-2013
0

Re: Chargesmart.com

Yes I think you so much! I finally realize the value of credit cards. I am definitely not as scared as I used to be plus I pay them off every 5-7 days so no worries ever!

And I am definitely doing this all now for the future. I'm looking two years down the road hopefully!

Thank you SO much for all of your help!!

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