topic Re: Other cards like AOD Visa with automatic redemptions? in Credit Cards

Other cards like AOD Visa with automatic redemptions?

Anonymous — Wed, 14 Apr 2021 19:25:46 GMT

The automatic redemptions for cash back on the AOD Visa were a big selling point for me, but I was unfortunately denied (too many recent accounts). The only other card I could find with this feature is the Blue Business Cash card from American Express. Does anyone know of any others? I would love an automatic redemption card for larger bills that do not accept American Express. Thanks!

Re: Other cards like AOD Visa with automatic redemptions?

K-in-Boston — Wed, 14 Apr 2021 19:43:55 GMT

Curious as to why automatic redemption would be necessary? Unless you are on auto-pay and just never want to see your statement activity (along with any potential fraudulent charges), one would theoretically be logging into the account at least monthly and you could just redeem then. I would think finding a card that best matches your spending or the best flat amount of cash back would be more beneficial?

Re: Other cards like AOD Visa with automatic redemptions?

Anonymous — Wed, 14 Apr 2021 19:55:35 GMT

@K-in-Boston wrote:
Curious as to why automatic redemption would be necessary? Unless you are on auto-pay and just never want to see your statement activity (along with any potential fraudulent charges), one would theoretically be logging into the account at least monthly and you could just redeem then. I would think finding a card that best matches your spending or the best flat amount of cash back would be more beneficial?

To me, automatic redemptions are the most beneficial

Re: Other cards like AOD Visa with automatic redemptions?

Aim_High — Thu, 15 Apr 2021 23:28:26 GMT

A lot of cash back cards probably enable you to set it up if you dig around the websites, although I've never done it.

For one, the Capital One Quicksilver card that pays 1.5% cash back on everything allows it. For auto redemption, you can elect to receive it once you hit a set redemption value of as little as $25 or you can set it up to either credit the account or send you a paper check annually. From the home screen, select "view rewards" and then click the far right tab for "reward settings" and "set up auto redeem."

Re: Other cards like AOD Visa with automatic redemptions?

Anonymous — Wed, 14 Apr 2021 20:00:19 GMT

You can set Synchrony cards to automatically redeem their rewards. This includes Amazon and PayPal Cashback. There is a one month delay before they'll auto redeem so I always redeemed them manually each month.

The Marvel card automatically redeemed each month but that card is going away next month unfortunately.

I haven't had any other cards that auto redeem.

Re: Other cards like AOD Visa with automatic redemptions?

Anonymous — Thu, 15 Apr 2021 23:26:05 GMT

@Aim_High wrote:
A lot of cash back cards probably enable you to set it up if you dig around the websites, although I've never done it.

For one, the Capital One Quicksilver card that pays 1.5% cash back on everything allows it. For auto redemption, you can elect to receive it once you hit a set redemption value of as little as $25 or you can set it up to either credit the account or send you a paper check annually. From the home screen, select "view rewards" and then click the far right tab for "reward settings" and "set up auto redeem."

Wow, I never knew that was a thing!

Re: Other cards like AOD Visa with automatic redemptions?

Anonymous — Wed, 14 Apr 2021 20:11:30 GMT

Thank you for the toughtful answers, but "like AOD Visa with automatic redemptions" means like the AOD Visa with automatic redemptions. They show up on the same billing statement as the charge. No "once you hit $25" or "with a one month delay". If the answer is no, and the Blue Business Plus is the only alternative, that is okay too. Thanks

Re: Other cards like AOD Visa with automatic redemptions?

Aim_High — Thu, 15 Apr 2021 05:33:44 GMT

Also, just verified that the PenFed Power Cash Rewards is available for monthly auto-redemption, regardless of cash balance. The card pays 1.5% for everyone or 2% if you either have a checking account (fee waived with $500 minimum balance or $500 monthly direct deposit) *OR* for Honors Advantage members who have current or prior military service.

Go to "Redeem Rewards" on home page. Then instead of "Redeem Now" select "Set up Auto Redemptions." You can have it deposited into your banking account or as an account credit.

Re: Other cards like AOD Visa with automatic redemptions?

K-in-Boston — Wed, 14 Apr 2021 20:19:01 GMT

@Anonymous wrote:
Thank you for the toughtful answers, but "like AOD Visa with automatic redemptions" means like the AOD Visa with automatic redemptions. They show up on the same billing statement as the charge. No "once you hit $25" or "with a one month delay". If the answer is no, and the Blue Business Plus is the only alternative, that is okay too. Thanks

Be careful with the similar Amex card names if you are applying; Plus is a Membership Rewards-earning card while Cash is of course cash-earning. While Amex does automatically apply earnings as a statement credit on that card, I believe like MR-earning cards, they apply that once payment for the statement they were earned in has been made. The terms do state "applied within two statement periods." It would be very unlike Amex to give immediate rewards outside of Amex Offers, and likely the only possible way to have the statement Credit appear on the statement the credit was earned would be to pay the Total Balance prior to statement closing, and even that might be iffy.

Re: Other cards like AOD Visa with automatic redemptions?

Anonymous — Wed, 14 Apr 2021 20:27:02 GMT

@K-in-Boston wrote:
@Anonymous wrote:
Thank you for the toughtful answers, but "like AOD Visa with automatic redemptions" means like the AOD Visa with automatic redemptions. They show up on the same billing statement as the charge. No "once you hit $25" or "with a one month delay". If the answer is no, and the Blue Business Plus is the only alternative, that is okay too. Thanks
Be careful with the similar Amex card names if you are applying; Plus is a Membership Rewards-earning card while Cash is of course cash-earning. While Amex does automatically apply earnings as a statement credit on that card, I believe like MR-earning cards, they apply that once payment for the statement they were earned in has been made. The terms do state "applied within two statement periods." It would be very unlike Amex to give immediate rewards outside of Amex Offers, and likely the only possible way to have the statement Credit appear on the statement the credit was earned would be to pay the Total Balance prior to statement closing, and even that might be iffy.

Yes, Blue Business Cash is what I meant to say in that reply. Same card I started the topic with. Thanks

In my experience, the automatic redemptions have come far sooner than "two statement periods"

Re: Other cards like AOD Visa with automatic redemptions?

Aim_High — Thu, 15 Apr 2021 05:36:52 GMT

And ... if you don't like my Capital One Quicksilver (OR) PenFed Power Cash Rewards, I have another one.

Apple card from Goldman Sachs redeems your "daily cash" to account credit automatically when you make your monthly payment.

Or you can manually cash it out as earned throughout the month. You can either apply it to your card balance or transfer it to a bank account through your iPhone Apple Wallet.

Of course, Apple card earns anywhere from 3% down to 2% with Apple Pay or only 1% with the physical card.

Re: Other cards like AOD Visa with automatic redemptions?

Anonymous — Thu, 15 Apr 2021 05:37:59 GMT

@Aim_High wrote:
And ... if you don't like my Capital One Quicksilver (OR) PenFed Power Cash Rewards, I have another one.

Apple card from Goldman Sachs redeems your "daily cash" to account credit automatically when you make your monthly payment.

Or you can manually cash it out as earned throughout the month. You can either apply it to your card balance or transfer it to a bank account through your iPhone Apple Wallet.

Of course, Apple card earns anywhere from 3% down to 2% with Apple Pay or only 1% with the physical card.

As unappealing as 1% back on non Apple Pay purchases is, this is probably my best bet for merchants that do not accept American Express. Thank you for your research

Re: Other cards like AOD Visa with automatic redemptions?

PullingMeSoftly — Wed, 14 Apr 2021 22:02:33 GMT

The Abound CU Platinum Visa (the gas card) has automatic monthly redemption toward the statement balance, like AOD. Open membership as well.

Also, Provident Credit Union, although CA Bay Area-based, has quite a few organizations and associations for membership eligibility. They have a Visa Sig cashback card (1.5% flat) that automatically redeems into the member's savings account monthly (but not as a statement credit as with Abound as noted above).

Re: Other cards like AOD Visa with automatic redemptions?

Anonymous — Wed, 14 Apr 2021 23:04:20 GMT

@PullingMeSoftly wrote:
The Abound CU Platinum Visa (the gas card) has automatic monthly redemption toward the statement balance, like AOD. Open membership as well.

Also, Provident Credit Union, although CA Bay Area-based, has quite a few organizations and associations for membership eligibility. They have a Visa Sig cashback card (1.5% flat) that automatically redeems into the member's savings account monthly (but not as a statement credit as with Abound as noted above).

Excellent options! Thank you!

For anyone else interested, I also found the Comenity Mastercard with 1.5% automatic redemptions, and the Synchrony Mastercard with 2% automatic redemptions, but that one is invite only for now. Both are not ideal banks to deal with in my opinion, but options

Re: Other cards like AOD Visa with automatic redemptions?

creditfan — Thu, 15 Apr 2021 00:21:08 GMT

simplycash biz from Amex that no longer available for new signup

Re: Other cards like AOD Visa with automatic redemptions?

M_Smart007 — Thu, 15 Apr 2021 12:55:22 GMT

I probably have at least a dozen cards with auto redemption, but too many to log-in and find out.

I did find one this morning. ETA: While checking the statement closing balance / and I did "manually" redeem my catback.

BoA Cash Rewards

(i manually redeem, when I happen to see I have cash stashed ..like whenever that happens)

Re: Other cards like AOD Visa with automatic redemptions?

Anonymous — Fri, 16 Apr 2021 01:21:00 GMT

@M_Smart007 wrote:
I probably have at least a dozen cards with auto redemption, but too many to log-in and find out.

I did find one this morning. ETA: While checking the statement closing balance / and I did "manually" redeem my catback.

BoA Cash Rewards
(i manually redeem, when I happen to see I have cash stashed ..like whenever that happens)

Thank you, but I was looking for something like the AOD Visa that does not require a minimum amount before redemptions and does not make you wait a few statements to get your redemption. Redemptions are automatically applied to your statement each month. No need to log in to an account

Re: Other cards like AOD Visa with automatic redemptions?

Oxford77 — Fri, 16 Apr 2021 22:36:34 GMT

The BP Visa works exactly like the AOD Visa on automatic redemptions, i.e. credited at the end of every month's statement. The BP Visa gives 3% on groceries and 1% on everything else (except non-BP or Amoco gas), plus it gives a flat 10 cents a gallon off on gas at BP or Amoco stations, 15 cents a gallon in some circumstances. That discount is applied directly at the pump when you purcahse gas.

Re: Other cards like AOD Visa with automatic redemptions?

Anonymous — Sat, 17 Apr 2021 00:17:15 GMT

I was just going to recommend the PenFed Platinum Cash Rewards Visa as well. I have the ancient card from 2009 - the one that gives 5% back at the pump only, but no points system. I don't think it's still available, but the newer versions may still do this.

Re: Other cards like AOD Visa with automatic redemptions?

BearsCubsOtters — Sun, 18 Apr 2021 13:50:16 GMT

I just came here to mention that it is interesting how different people want different things. Personally, I cannot stand monthly, auto redemptions of my cash back! I love watching it pile up and then I get to have it redeemed on my schedule and into a savings account rather than let the smaller amounts get lost each month towards my balance. It's one of the main reasons I do not like Amex cash-back cards and partially why I did not get caught up in the AOD FOTM last year.

But as OP has already learned, not many other credit cards have instant, monthly redemptions.