Is free money worth leaving the garden?

[pats23]

So I got a salliemae I promise card offer today $50 after first use. I'm suppose to be gardening I don't really want/need the card. But does free money make it worth. What do you guys do when this happens?

[10kbkb]

Nope, no way, def not for $50.00

[09Lexie]

With the plethora of sign up bonuses exceeding $50, I wouldn't budge for $50 for a cc I don't need or want.

[SunriseEarth]

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@09Lexie wrote:
With the plethora of sign up bonuses exceeding $50, I wouldn't budge for $50 for a cc I don't need or want.

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+1

[eddie84]

I wouldn't sign up just for 50 bucks.  $400 - $500 maybe but that's just me tho.

[Omnipotent]

Or if it's something like the 5% Sallie Mae.

[longtimelurker]

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@pats23 wrote:
So I got a salliemae I promise card offer today $50 after first use. I'm suppose to be gardening I don't really want/need the card. But does free money make it worth. What do you guys do when this happens?

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All depends why you are gardening, and if an extra card will hurt or slow down your goals vs how useful the new card might be.  But $50 for one you don't want, not enough to even think about it!

And when did you get the TD card?   If it was within 6 months, why are you posting?  You should be out buying $500 Visa/MC gift cards at supermarkets and cashing them out for money orders at Walmart!  That can get you several thousand dollars over 6 months, and you won't be tempted by $50 offers.

[Duncanrr]

[starry1]

Free money is free money and all, but i wouldn't even get out of bed for $50, much less the garden.

[tinuviel]

I like getting free money... I really do. But, I wouldn't leave the garden for a card that I didn't need/want for a $50 bonus. Yes, it's $50. There are also department store cards that offer a percentage off your first purchase with approval -- more free money! But if you go after every card that comes your way offering you something just for signing up, you'd rack up inqs and whack away at your AAoA and may very well be turned down for a card with a really good bonus. And if you've just been approved for cards, you could make your creditors nervous if you continue to add more accounts.

It also depends upon your reasons for gardening. If you're looking at apping for something major in the foreseeable future -- a mortgage, a car loan -- it doesn't make sense to have your score drop into a less favorable tier in order to get $50. Depending on your credit situation and where your scores are at, you could wind up paying more in interest on the major purchase, which would easily outstrip the value of the bonus.

So, you need to evaluate where you stand with your credit and what your goals are and then decide what is the right thing to do for your situation.