I'm trying to read up what I can on the Sams Club Discover (GE) Advantage Plus rewards. I've had the card for several years. It was my go to card until I discovered the 5% rotating, etc. Well it has a $100 fee. But that includes a Membership to Sam's; so call it $60 additional charge. From that you get a tiered rewards program that ramps to 2% after $10k spend per year. So on So On.
My issue is with the timing of the rewards check and the renewal charge. Checks for Rewards earned in 2013 will be sent with the 2014-Feb statements. Meanwhile, my membership (and for now at least that includes the credit card) hits in early March. While, according to what I read, you must be a member and have your account open to receive the check,you do not need to be a member to cash it.
Now if they are going to charge me $100 before I receive the check for last yrs rewards, what should I do? (I may have 3 days between receiving check and having the automatic renewal hit, but I'm not sure and don't want to wait until then to have a plan)
Pay and cash check, and then cancel, and hope they rebate?
Give notice of cancellation - "I do not want to renew" ?
For some paranoid reason I'm concerned Sams will convince me to pay for one more year in order to get this years check, in which case I would not use it for the year and thus forfeit nothing next yr upon cancellation.
This whole post sounds silly, I must be deflecting worry about something else.
FICO EX 827, 2015 Feb; FICO EQ 836/900 (Citi), 2014 Dec; FICO TU08 818, 2015 Feb.
BofA Cash Rwrds Sig V 2013 10k; Fidelity Rewards AmEx /BofA 2013 15.4k; Chase Freedom Sig V 2002 24.1k; Chase Amazon Rwrds Sig V 2011 8k; Sam's Club MC 2002 10k; Dscvr It 2012 10k; Citi Dvdnd Plat Sel V 2013 8.9k; PenFed Plat Rwrds V 2013 20k; AmEx Blue Sky 2013 11.3k; AmEx BCP 2014 24.1k; Priceline Rwrds Sig V 2013 8.7k; PayPal Xtras GE Cap Plat MC 2012 5k
