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Regular Contributor
Marcos8
Posts: 194
Registered: ‎05-31-2013
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Redeem BCP reward dollars prior to 61 day CLI?

Hello all! My second statement with my BCP is about to cut in a week or so and my $250 Reward Dollars (cardmatch) has showed up in my account from my 1K spend. Should I redeem this now and let the 2nd statement cut with a smaller amount that I of course will PIF...or would it somehow look better if I just let the statement cut as is and just PIF anyway and save the dollars for another time. Not sure if a larger statement balance and hence a larger PIF will influence my 61 day CLI request in a couple of weeks... Thanks!

Moderator
09Lexie
Posts: 25,321
Registered: ‎09-13-2012
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Re: Redeem BCP reward dollars prior to 61 day CLI?

I doubt it would have any influence. Amex can still see your charge/payment history
New Member
donalduck
Posts: 4
Registered: ‎11-18-2013
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Re: Redeem BCP reward dollars prior to 61 day CLI?

I would personally PIF and cash in later, but I don't see why it would be an issue to do it the other way around. 

Moderator
Revelate
Posts: 8,968
Registered: ‎12-30-2011
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Re: Redeem BCP reward dollars prior to 61 day CLI?

[ Edited ]

donalduck wrote:

I would personally PIF and cash in later, but I don't see why it would be an issue to do it the other way around. 


This is what I did, actually still haven't cashed in come to think of it.  I *think* and this is seriously coloring at the margins, that I'd want the PIF showing for the full amount to goose internal metrics which presumably track both spend amount and payment amount.

 

Longer term it's irrelevant, short-term, I'm of the opinion that donaldduck's suggestion makes the most sense for putting lipstick on the pig.

 

Edit: financially speaking, cash that in immediately... just for CLI chasing, I think that might not be the best option near-term.

 

Edit 2 and PS: @OP: that's a great and interesting question regardless of what's chosen.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Frequent Contributor
codimom
Posts: 389
Registered: ‎09-08-2010
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Re: Redeem BCP reward dollars prior to 61 day CLI?

I have had 3 rounds with AMEX CLIs and I have not cashed in any of my reward dollars.  I use my card as my daily go to card, but I PIF every month.  YMMV.


Back in the garden!
App free since 23Oct2012 reset to 27Aug13 and reset again 4nov13


Super Contributor
longtimelurker
Posts: 6,537
Registered: ‎04-22-2013
0

Re: Redeem BCP reward dollars prior to 61 day CLI?


codimom wrote:

I have had 3 rounds with AMEX CLIs and I have not cashed in any of my reward dollars.  I use my card as my daily go to card, but I PIF every month.  YMMV.


Since the rewards don't earn interest, I don't do this.  I always cash out when I can (that program has a $25 min).

Most active cards: Amex BC ($50K), Cap One QS ($33K) Fidelity Amex ($20K)
Others: CSP, Freedom, Chase Amazon, Cap One QS, Penfed Plat Rewards (x2), Citi Double Cash, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus
Scores May 14: EQ 848, EX 833, TU 848 (Sep)
Super Contributor
longtimelurker
Posts: 6,537
Registered: ‎04-22-2013
0

Re: Redeem BCP reward dollars prior to 61 day CLI?


Revelate wrote:

donalduck wrote:

I would personally PIF and cash in later, but I don't see why it would be an issue to do it the other way around. 


This is what I did, actually still haven't cashed in come to think of it.  I *think* and this is seriously coloring at the margins, that I'd want the PIF showing for the full amount to goose internal metrics which presumably track both spend amount and payment amount.

 

Longer term it's irrelevant, short-term, I'm of the opinion that donaldduck's suggestion makes the most sense for putting lipstick on the pig.

 

Edit: financially speaking, cash that in immediately... just for CLI chasing, I think that might not be the best option near-term.

 

Edit 2 and PS: @OP: that's a great and interesting question regardless of what's chosen.


Isn't the spend amount either going to be reduced by the credit, or the credit added to the payment amount anyway in the metrics (or there could be some issues with returns etc).   As we really don't know what goes on, I guess it could matter, although I would lean to "the lender has all the information they need".  Matters more for CLIs on other cards I would think.   But little harm done apart from lost interest.

Most active cards: Amex BC ($50K), Cap One QS ($33K) Fidelity Amex ($20K)
Others: CSP, Freedom, Chase Amazon, Cap One QS, Penfed Plat Rewards (x2), Citi Double Cash, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus
Scores May 14: EQ 848, EX 833, TU 848 (Sep)
Moderator
Revelate
Posts: 8,968
Registered: ‎12-30-2011
0

Re: Redeem BCP reward dollars prior to 61 day CLI?

[ Edited ]

longtimelurker wrote:

Revelate wrote:

donalduck wrote:

I would personally PIF and cash in later, but I don't see why it would be an issue to do it the other way around. 


This is what I did, actually still haven't cashed in come to think of it.  I *think* and this is seriously coloring at the margins, that I'd want the PIF showing for the full amount to goose internal metrics which presumably track both spend amount and payment amount.

 

Longer term it's irrelevant, short-term, I'm of the opinion that donaldduck's suggestion makes the most sense for putting lipstick on the pig.

 

Edit: financially speaking, cash that in immediately... just for CLI chasing, I think that might not be the best option near-term.

 

Edit 2 and PS: @OP: that's a great and interesting question regardless of what's chosen.


Isn't the spend amount either going to be reduced by the credit, or the credit added to the payment amount anyway in the metrics (or there could be some issues with returns etc).   As we really don't know what goes on, I guess it could matter, although I would lean to "the lender has all the information they need".  Matters more for CLIs on other cards I would think.   But little harm done apart from lost interest.


Not sure, it's incredibly easy and almost assuredly flagged differently in their database as they have to keep a record of the transactions and where they came from.  As a result, their internal score may take it into account, and quite possibly does since it would not be the common payment form and outlier payments (cashier's check let's say) likely would be viewed seriously askance.

 

Amex for whatever reason anecdotally seems to like lump sum payments, the bigger the better.  I fully agree it might not matter, but I don't see the need to take that chance now that the the question prodded my thinking.  I can wait till after I've done my third and final CLI shot: the marginal interest lost on the rewards makes absolutely no difference in my financial life.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


Take the myFICO Fitness Challenge
Super Contributor
longtimelurker
Posts: 6,537
Registered: ‎04-22-2013
0

Re: Redeem BCP reward dollars prior to 61 day CLI?


Revelate wrote:

longtimelurker wrote:

Revelate wrote:

donalduck wrote:

I would personally PIF and cash in later, but I don't see why it would be an issue to do it the other way around. 


This is what I did, actually still haven't cashed in come to think of it.  I *think* and this is seriously coloring at the margins, that I'd want the PIF showing for the full amount to goose internal metrics which presumably track both spend amount and payment amount.

 

Longer term it's irrelevant, short-term, I'm of the opinion that donaldduck's suggestion makes the most sense for putting lipstick on the pig.

 

Edit: financially speaking, cash that in immediately... just for CLI chasing, I think that might not be the best option near-term.

 

Edit 2 and PS: @OP: that's a great and interesting question regardless of what's chosen.


Isn't the spend amount either going to be reduced by the credit, or the credit added to the payment amount anyway in the metrics (or there could be some issues with returns etc).   As we really don't know what goes on, I guess it could matter, although I would lean to "the lender has all the information they need".  Matters more for CLIs on other cards I would think.   But little harm done apart from lost interest.


Not sure, it's incredibly easy and almost assuredly flagged differently in their database as they have to keep a record of the transactions and where they came from.  As a result, their internal score may take it into account, and quite possibly does since it would not be the common payment form and outlier payments (cashier's check let's say) likely would be viewed seriously askance.

 

Amex for whatever reason anecdotally seems to like lump sum payments, the bigger the better.  I fully agree it might not matter, but I don't see the need to take that chance now that the the question prodded my thinking.  I can wait till after I've done my third and final CLI shot: the marginal interest lost on the rewards makes absolutely no difference in my financial life.


OK, different priorities I guess.  I don't find any value in CLIs, so lost interest, however small, dominates!

Most active cards: Amex BC ($50K), Cap One QS ($33K) Fidelity Amex ($20K)
Others: CSP, Freedom, Chase Amazon, Cap One QS, Penfed Plat Rewards (x2), Citi Double Cash, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus
Scores May 14: EQ 848, EX 833, TU 848 (Sep)

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