topic Re: Want My Cashback NOW! in Credit Cards

Want My Cashback NOW!

PandaGirl77 — Mon, 05 Apr 2021 01:09:05 GMT

Frustrated with CB cards I have to reach $25 in rewards to redeem. Please share any little known CB cards that don't have an AF. I already use CapOne Savor, Chase Freedom, BOA CR and Discover It favorably for their redemption policy.

Re: Want My Cashback NOW!

simplynoir — Mon, 05 Apr 2021 01:16:38 GMT

While I can see why the minimum redemption can be frustrating, sometimes the card's earning potential makes it easier than other cards to reach that threshold

Though I'm confused as to why you want more cards of that nature. The current "no minimum redemption" credit card lineup you have seems to be more than enough

Re: Want My Cashback NOW!

Anonymous — Mon, 05 Apr 2021 01:21:17 GMT

And if it's taking you an extended amount of time to hit the minimum redemption amount, often $25 for instance, it probably means you are spreading your spend around between too many cards that are offering the same % cash back.

Re: Want My Cashback NOW!

JNA1 — Mon, 05 Apr 2021 02:38:49 GMT

BBVA's, NFCU cashRewards, and as you said, Discover and Cap's cash rewards post as soon the transaction posts and there is no minimum redemption threshold. Pretty much the rest of them have a minimum redemption threshold or they post rewards monthly (usually at statement cut).

That said, I don't mind either if the rewards are better.

Re: Want My Cashback NOW!

Kforce — Mon, 05 Apr 2021 03:02:46 GMT

You are spreading your spend around between too many cards.

I put all my spend on two cards and get cash back 3-4 time a month.

Re: Want My Cashback NOW!

Slabenstein — Mon, 05 Apr 2021 03:17:42 GMT

A lot of it is going to come down to personal preference with this kind of a thing, but there's a sense in which there's no such thing as too little spend on a cb card w/ no minimum redeem b/c no matter how little you earn you can still claim the rewards. Whether an account would be worth opening for small monthly gains is another question, but no min redeem is one thing I look for in a card since unless it gets my grocery spend $25+ can take me a while to earn.

OP, you're already aware of two of the cards I have w/o min redeem, and the Chase Amazon doesn't have one, either. From what I understand, Paypal MC and Penfed PCR are two 2% cards w/ no redemption threshold, and the PCR lets you earn and redeem as you charge throughout the month, rather than making you wait for the next statement.

Re: Want My Cashback NOW!

PandaGirl77 — Mon, 05 Apr 2021 05:44:51 GMT

@simplynoir wrote:
While I can see why the minimum redemption can be frustrating, sometimes the card's earning potential makes it easier than other cards to reach that threshold

Though I'm confused as to why you want more cards of that nature. The current "no minimum redemption" credit card lineup you have seems to be more than enough

I have curiosity which ones are out there. Not trying to app anything right now but possibly banking with one or more CUs in the future. Also may move away from the banks that aren't really growing with me.

Re: Want My Cashback NOW!

PandaGirl77 — Mon, 05 Apr 2021 05:48:57 GMT

@Anonymous wrote:
And if it's taking you an extended amount of time to hit the minimum redemption amount, often $25 for instance, it probably means you are spreading your spend around between too many cards that are offering the same % cash back.

I didn't post looking for feedback about why I would need them or how I have enough cards. It's curiosity about the products being offered out there that I may never have heard of and could potentially add or switch to in the future.

Re: Want My Cashback NOW!

PandaGirl77 — Mon, 05 Apr 2021 05:56:48 GMT

@Slabenstein wrote:
A lot of it is going to come down to personal preference with this kind of a thing, but there's a sense in which there's no such thing as too little spend on a cb card w/ no minimum redeem b/c no matter how little you earn you can still claim the rewards. Whether an account would be worth opening for small monthly gains is another question, but no min redeem is one thing I look for in a card since unless it gets my grocery spend $25+ can take me a while to earn.

OP, you're already aware of two of the cards I have w/o min redeem, and the Chase Amazon doesn't have one, either. From what I understand, Paypal MC and Penfed PCR are two 2% cards w/ no redemption threshold, and the PCR lets you earn and redeem as you charge throughout the month, rather than making you wait for the next statement.

I appreciate you sharing that! This is the information I'm looking for as I have never heard about the 3 you mentioned. I would love to eventually have a 2% card as a go to when I don't have a higher rate category available. For me right now that is Citi DC and I don't like them anymore for the redemption reason among other things.

Re: Want My Cashback NOW!

PandaGirl77 — Mon, 05 Apr 2021 06:04:22 GMT

@JNA1 Thank you for actually answering my question. I didn't know about BBVA. Unfortunately not eligible for NFCU which is a bummer for me!

Re: Want My Cashback NOW!

CreditPuppy — Mon, 05 Apr 2021 06:15:55 GMT

I use PayPal MC for my daily driver on anything my More Rewards card from NFCU doesn't do better. One that my wife uses is her Comenity card. It has 1.5%, 0 AF. They created that card back in Sept 2020 when they lost the Wayfair card to Citi. A large percentage of people who had their Wayfair card were automatically ported over to that card. It also has a SUB of $100 for $500 spend in 90 days and they are taking apps now.

Re: Want My Cashback NOW!

PandaGirl77 — Mon, 05 Apr 2021 06:34:54 GMT

@CreditPuppy wrote:
I use PayPal MC for my daily driver on anything my More Rewards card from NFCU doesn't do better. One that my wife uses is her Comenity card. It has 1.5%, 0 AF. They created that card back in Sept 2020 when they lost the Wayfair card to Citi. A large percentage of people who had their Wayfair card were automatically ported over to that card. It also has a SUB of $100 for $500 spend in 90 days and they are taking apps now.

@CreditPuppy I appreciate the info on PayPal, have not looked at them before. I was one of those people, as your wife was, to be ported into Comenity. It's going to be my go to once I get $4 more rewards on Citi DC and put it away. Comenity is also my go to for grocery now (3%) since April 1 when Discovers 5% grocery ended. That works wonderfully through 6/30 while I have no options for 3% or more on grocery. I like the pop up incentives Comenity has done such as the home furnishings when they transitioned people over. The redemption is a little quirky to me how the CB is 'bought' then checked out in a cart but nonetheless I like it better than the others with the minimum redemption.

Re: Want My Cashback NOW!

PandaGirl77 — Mon, 05 Apr 2021 06:56:19 GMT

@Anonymous wrote:
And if it's taking you an extended amount of time to hit the minimum redemption amount, often $25 for instance, it probably means you are spreading your spend around between too many cards that are offering the same % cash back.

@Anonymous I'm sure it's a personal preference to spread the spend around or not but if one can keep track I don't understand why they'd use a go to card with CB 1-2% all the time when another is 3% plus for a given quarter or pop up block of time. My CapOne gives me 4% dining and I scored 8% on VividSeats concert tix (that will hopefully be able to use this summer!) My cable/phone bills auto pay earned me 5% last quarter on CF and 5% for groceries on Discover. Seems like leaving money on the table to just put everything on one CB card.

Re: Want My Cashback NOW!

Jnbmom — Mon, 05 Apr 2021 06:59:24 GMT

@PandaGirl77 wrote:
@JNA1 Thank you for actually answering my question. I didn't know about BBVA. Unfortunately not eligible for NFCU which is a bummer for me!

@PandaGirl77

I am not sure if BBVA is still geo-fenced, only other way around was a direct invitation, but not sure if that's still the same? @Anonymous should know

Re: Want My Cashback NOW!

Anonymous — Mon, 05 Apr 2021 07:02:09 GMT

@Jnbmom wrote:
@PandaGirl77 wrote:
@JNA1 Thank you for actually answering my question. I didn't know about BBVA. Unfortunately not eligible for NFCU which is a bummer for me!
@PandaGirl77

I am not sure if BBVA is still geo-fenced, only other way around was a direct invitation, but not sure if that still the same? @Anonymous should know

BBVA is geofenced to AL, AR, CA, CO, FL, NM, and TX, but you can get around it by opening up their online checking account.

https://www.bbvausa.com/checking-accounts/national.html

Re: Want My Cashback NOW!

PandaGirl77 — Mon, 05 Apr 2021 07:12:43 GMT

@Anonymous wrote:
@Jnbmom wrote:
@PandaGirl77 wrote:
@JNA1 Thank you for actually answering my question. I didn't know about BBVA. Unfortunately not eligible for NFCU which is a bummer for me!
@PandaGirl77

I am not sure if BBVA is still geo-fenced, only other way around was a direct invitation, but not sure if that still the same? @Anonymous should know
BBVA is geofenced to AL, AR, CA, CO, FL, NM, and TX, but you can get around it by opening up their online checking account.

https://www.bbvausa.com/checking-accounts/national.html

I checked BBVA out and yes 2% if you have checking with 1K DD monthly, 1.5% without. The PenFed CR that was mentioned looks to only require an active checking account with no deposit minimums to earn the 2% and 1.5% without an account. It is great to know what's out there!

Re: Want My Cashback NOW!

Anonymous — Mon, 05 Apr 2021 07:13:36 GMT

@JNA1 wrote:
BBVA's, NFCU cashRewards, and as you said, Discover and Cap's cash rewards post as soon the transaction posts and there is no minimum redemption threshold. Pretty much the rest of them have a minimum redemption threshold or they post rewards monthly (usually at statement cut).

That said, I don't mind either if the rewards are better.

BBVA has a $25 redemption threshold.

They do have a purchase eraser feature like if you go make a small purchase and want to apply your cash back to it but it's not as easy as the likes of NFCU or Capital One.

Re: Want My Cashback NOW!

Anonymous — Mon, 05 Apr 2021 07:18:03 GMT

@PandaGirl77 wrote:
@Anonymous wrote:
@Jnbmom wrote:
@PandaGirl77 wrote:
@JNA1 Thank you for actually answering my question. I didn't know about BBVA. Unfortunately not eligible for NFCU which is a bummer for me!
@PandaGirl77

I am not sure if BBVA is still geo-fenced, only other way around was a direct invitation, but not sure if that still the same? @Anonymous should know
BBVA is geofenced to AL, AR, CA, CO, FL, NM, and TX, but you can get around it by opening up their online checking account.

https://www.bbvausa.com/checking-accounts/national.html
I checked BBVA out and yes 2% if you have checking with 1K DD monthly, 1.5% without. The PenFed CR that was mentioned looks to only require an active checking account with no deposit minimums to earn the 2% and 1.5% without an account. It is great to know what's out there!

The draw for BBVA isn't really the 2% card IMO. The ClearPoints is the real draw. One 3% category and one 2% category that you select each quarter, totally uncapped rewards in those categories, plus no BBVA deposit or balance requirement. They regularly send out offers like 5-7x points for groceries, restaurants, or gas. This month they are actually giving a lot of us 10x points per dollar up to $500 of spend on top of the base 1-3x points we get for our category selections. I hear you on minimum redemptions but the offers on this card always make it really easy to hit.

Re: Want My Cashback NOW!

PandaGirl77 — Mon, 05 Apr 2021 07:38:19 GMT

@Anonymous

Wow! I agree under those circumstances and I will be looking at that more closely. Have not heard of that amount of rewards before.

Re: Want My Cashback NOW!

CreditInspired — Mon, 05 Apr 2021 07:52:03 GMT

I like my BOA Visa CB card I got back in December. $200 CB for $1K spend, plus you can change your rewards category every 30 days for 3% max. I had just purchased a house and chose home improvement/home furnishings for my 3% CB. I racked up on CB which was available at end of statement. This month, I'm switching to groceies. Also, this is a 12-mo 0% interest on purchases.