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Frequent Contributor
Posts: 341
Registered: ‎09-23-2013

Rewards blog?

We should start one I'd love to hear what everyone else is doing to maximize rewards!
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Established Contributor
Posts: 714
Registered: ‎12-05-2013

Re: Rewards blog?

[ Edited ]

This is a great idea. Now that I have actual rewards cards, I want to maximize their usage. So I've been searching for the best way to do it.

 

I found an article suggesting Wallaby mobile (available on iOS and Android) and basically you add the cards you have (not the numbers, just the type of the card) and based on your GPS location, it can find the store you are in, and is supposed to sugges the best card to use in that store.

 

It has an option to "connect" your cards' online account - to recommend amounts and what you've missed and other misc things - but in all honesty, I don't know too much about this app to allow it to access my accounts. So i have not activated that feature.

 

With regards to bills and the such, I already know which cards give me the most benefits for each "category" so I set them up to be billed automatically to those cards (like Cell Phone - on the Barclay's Rewards card for 2x points for each $ spent).

 

I am going to try out this app and see how it works out

 

EDIT: Spelling corrections

FICO® EQ 717 (3/5/15); TU08 732 (3/5/15); EX: 723 (3/5/15) - Last app 3/15/15; Inquiries: A TON!

CITI ThankYou Preferred - CL: $2,000




Starting Scores: 590s on 12/2013. Hover over card image to view details! *After Amex approvals - [I was supposed to be] Gardening!*
Frequent Contributor
Posts: 341
Registered: ‎09-23-2013

Re: Rewards blog?

I think I may have a plausible way to pay the rent (or mortgage) and earn points. The dollar tree by my house sells green dot money packs for $1 I suspect you can find a prepaid with no atm fee and use the moneypak to reload then use the prepaid card to withdraw free cash and deposit back in to your bank account. It sure if money pak would get converted to cash equivalent though
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Frequent Contributor
Posts: 341
Registered: ‎09-23-2013

Re: Rewards blog?

Imagine theoretically buying a moneypak at a 5% category store. $1000 x0.05= $50 a month x 12 months = $600 a year pretty good lol
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Super Contributor
Posts: 9,030
Registered: ‎06-19-2013

Re: Rewards blog?


buildafico wrote:
Imagine theoretically buying a moneypak at a 5% category store. $1000 x0.05= $50 a month x 12 months = $600 a year pretty good lol

I will play devils advocate, is that extra amount worth the risk? I have thought about using it to pay electric bill and car payment, but i don't know if its worth the risk



EX Fico 774 3/3/15 Fako 806 CS/Credit.com 11/24/14
EQ SW bank enhanced 5/26/15 827 CK fako 807 5/11/15
TU Fico Barclay's/Walmart 7/6/15 799 Fako 808 Creditkarma 5/11/15
Frequent Contributor
Posts: 341
Registered: ‎09-23-2013

Re: Rewards blog?

I'll beta the idea, I'll just try it with $10 and if I get charged an advance fee at least I'll know. But if I don't ... Lol point city baby!
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Super Contributor
Posts: 9,030
Registered: ‎06-19-2013

Re: Rewards blog?


buildafico wrote:
I'll beta the idea, I'll just try it with $10 and if I get charged an advance fee at least I'll know. But if I don't ... Lol point city baby!

Its not about cash advance its more about if cc sees you spend like 500+ at grocery store or office supply store , when you usually don't spend there. It may raise an few red flags. I was thinking of trying it with either my discover or freedom next quarter at gas stations but not worth the risk of getting card shut down, and getting blacklisted. I am sure others have differing opinions on the subject. 



EX Fico 774 3/3/15 Fako 806 CS/Credit.com 11/24/14
EQ SW bank enhanced 5/26/15 827 CK fako 807 5/11/15
TU Fico Barclay's/Walmart 7/6/15 799 Fako 808 Creditkarma 5/11/15
Frequent Contributor
Posts: 341
Registered: ‎09-23-2013

Re: Rewards blog?

Interesting point, perhaps different dollar amounts each time ? I see how a ccc would catch on to every month exactly $1000 purchase around the same time.
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Frequent Contributor
Posts: 341
Registered: ‎09-23-2013

Re: Rewards blog?

What if a new card has not seen your spending habits yet ? Just curious on thoughts
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Established Contributor
Posts: 714
Registered: ‎12-05-2013

Re: Rewards blog?


buildafico wrote:
Interesting point, perhaps different dollar amounts each time ? I see how a ccc would catch on to every month exactly $1000 purchase around the same time.

Or maybe 3x a month? I don't know.. this may be a "black hat" type of a scenario. Although it may not be "illegal" it could very well be frowned upon by the Credit Card company. But think about it though, we all have pretty decent amount of bills (utilities - power, phone, cable, water in some instances) all those can be paid by the credit card. That is enough cash back/points for just paying the things you have to pay anyway. You may get away with it maybe once or twice a year, but it may be too risky to even try it.

FICO® EQ 717 (3/5/15); TU08 732 (3/5/15); EX: 723 (3/5/15) - Last app 3/15/15; Inquiries: A TON!

CITI ThankYou Preferred - CL: $2,000




Starting Scores: 590s on 12/2013. Hover over card image to view details! *After Amex approvals - [I was supposed to be] Gardening!*
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