topic Re: AOD Nerf has come in Credit Cards

AOD Nerf has come

CreditCuriosity — Tue, 14 May 2024 16:03:23 GMT

Please see attached AOD Nerf has come.. Not bad interest rate increased from 7.49 fixed to 9.5 fixed (still very good for reward card in these conditions!)

Also 3% capped at $1500/mo. Bigger nerf, but still takes care of my normal uncat spend granted some larger purchases might need to see other cards, but still not as bad as it could of been.

Overall likely needed and hopefully last one and not more to come. Thought would share it all. I saw it in mail coming today and had a bad feeling about it. Anyways not totally awful.

edit misread didnt see prime plus 9.5 that is a big change from 7.49.. Anyways don't carry balances and max out 3% up to 1500/mo..

Re: AOD Nerf has come

jb90 — Tue, 14 May 2024 15:42:41 GMT

RIP got the letter today too

Re: AOD Nerf has come

SouthJamaica — Tue, 14 May 2024 15:48:36 GMT

@CreditCuriosity wrote:
Please see attached AOD Nerf has come.. Not bad interest rate increased from 7.49 fixed to 9.5 fixed (still very good for reward card in these conditions!)

Also 3% capped at $1500/mo. Bigger nerf, but still takes care of my normal uncat spend granted some larger purchases might need to see other cards, but still not as bad as it could of been.

Overall likely needed and hopefully last one and not more to come. Thought would share it all. I saw it in mail coming today and had a bad feeling about it. Anyways not totally awful.

From the day we learned of this card, we all knew it wasn't sustainable, and couldn't last. But as you point out, the change is not that bad. To have a cap of $1500 month on 3% cashback for non-category spend... is still the best deal around.

The interest rate of 9.5% plus prime is decent for a rewards card. But no one should be carrying balances on a card like this anyway, since the interest would defeat the purpose of the cash back reward.

Re: AOD Nerf has come

ptatohed — Tue, 14 May 2024 15:48:07 GMT

:cry: :cry: :cry: :cry: :cry: :cry:

I don't care about the interest rate but the $1500 cap is way too low for me.

Well, this ruined my day, thank you @CreditCuriosity , lol.

Re: AOD Nerf has come

CreditCuriosity — Tue, 14 May 2024 16:04:59 GMT

Ya stinks but many people would still kill for this card. Cap sucks as some months have 7kish non cat spending. Normally it likely will get me by as monthly not quarterly. Nerf none the less. I can't tell you how much money this card has made me in the 4 years I think I have had it lol.

So $45 / mo cashbax max at 3% or up to $540 / yr if maxed perfectly a year. The card certainly has given me close to 10k cash back would have to calculate one of these days.. Sad day.

Re: AOD Nerf has come

redpat — Tue, 14 May 2024 15:54:03 GMT

Another FOTM bites the dust.

Now becomes just another card in the SD for many.

Bad week for CUs and their members.

Good new is that there isn't any bad news on the travel side of rewards, yet!

Re: AOD Nerf has come

CreditCuriosity — Tue, 14 May 2024 16:10:13 GMT

@redpat wrote:
Another FOTM bites the dust.

This one lasted for 4 years at least(would have to search when i was approved as statements only go back 3 years online). Well worth the account and still is to a lesser extent. So it was very long lived imho.

Re: AOD Nerf has come

Anonymous — Tue, 14 May 2024 16:12:47 GMT

@CreditCuriosity wrote:
Ya stinks but many people would still kill for this card. Cap sucks as some months have 7kish non cat spending. Normally it likely will get me by as monthly not quarterly. Nerf none the less. I can't tell you how much money this card has made me in the 4 years I think I have had it lol.

So $45 / mo cashbax max at 3% or up to $540 / yr if maxed perfectly a year. The card certainly has given me close to 10k cash back would have to calculate one of these days.. Sad day.

I think fewer people will kill for it (unless they are inclined that way anyway, no judgement..) A fair comparison is against a 2% card, and then the extra reward is $15 a month, or $180 a year, assuming remembering to switch as soon as $1,500 is reached. While $15 a month is more than enough to get some MyFico excited, this really is a major nerf IMO.

Re: AOD Nerf has come

ptatohed — Tue, 14 May 2024 16:15:55 GMT

Oh boy. Time to start dusting off the cobwebs on my Double Cash (2.22%/2.0%), start using my upgrade Cash Rewards Elite (2.2%), and/or start looking into BoA Platinum Honors / Unlimited Cash Rewards (2.63%).

Sad day indeed.

Re: AOD Nerf has come

ptatohed — Tue, 14 May 2024 16:19:52 GMT

@CreditCuriosity wrote:
Ya stinks but many people would still kill for this card. Cap sucks as some months have 7kish non cat spending. Normally it likely will get me by as monthly not quarterly. Nerf none the less. I can't tell you how much money this card has made me in the 4 years I think I have had it lol.

So $45 / mo cashbax max at 3% or up to $540 / yr if maxed perfectly a year. The card certainly has given me close to 10k cash back would have to calculate one of these days.. Sad day.

Yup. I don't think I'll even carry it in my wallet anymore. I'll just come up with $1500 worth of monthly auto-pay bills and call it a day.

Re: AOD Nerf has come

CreditCuriosity — Tue, 14 May 2024 16:43:14 GMT

Might be time to change rewards on Alliant card to Tier 1 from 1.5 to 2.5%... being whatever qualifying activities as that is capped 10k a month right?

Re: AOD Nerf has come

GZG — Tue, 14 May 2024 16:49:41 GMT

@CreditCuriosity wrote:
Might be time to change rewards on Alliant card to Tier 1 from 1.5 to 2.5%... being whatever qualifying activities as that is capped 10k a month right?

Earn up to 2.5% cash back on your first $10,000 of qualifying eligible purchases (1.5% for purchases over $10,000

> 3. Maintain an average daily balance of $1,000 or more

I won't embarass myself with math, but I imagine making that worth it, not getting at least 5% on that $1k per month requires spend closer to the cap than not, no?

Re: AOD Nerf has come

DoppelgangerD — Tue, 14 May 2024 17:06:23 GMT

For those of you with this card, I'd love to know what you're spending more than 1500 a month on that can't already be beaten by other cards.

Just one of the biggest expenses I can think of is major auto repairs, or even buying a vehicle, but that's not a monthly thing.

Yes, 3% is a good catch-all, but since I don't have the AOD, my fall-back is a 2% card, and I put way WAY less than 1500 a month on it.

Even if my income doubled/tripled, I still don't see myself putting anywhere near 1500 a month on it.

BTW, don't forget Affinity is 2.5% with the caveat being you have to park 1k in a no-fee checking account... but, also capped at 10k per month. (EDIT: per MONTH [accidentally posted per year])

Re: AOD Nerf has come

ptatohed — Tue, 14 May 2024 17:01:55 GMT

@CreditCuriosity wrote:
Might be time to change rewards on Alliant card to Tier 1 from 1.5 to 2.5%... being whatever qualifying activities as that is capped 10k a month right?

True. I had started going down that road and actually started the Alliant credit union application (thinking I couldn't get in to AOD) when I had a change of mind and told myself 'you will get in to AOD'. I never finished the app. The bummer with Alliant is you have to keep $1000 held captive at 0.25%. So, if you would otherwise be getting 5% on that $1000 elsewhere, it's essentially a $47.5 'annual fee'. If you spend enough, the extra .5% over a 2% card will cover the $47.5 and more but it still is not optimum. Of course if and when savings rates drop, that gap will narrow. Time to start looking at the 3% Robinhood card? lol

Re: AOD Nerf has come

CreditCuriosity — Tue, 14 May 2024 17:03:33 GMT

@DoppelgangerD wrote:
For those of you with this card, I'd love to know what you're spending more than 1500 a month on that can't already be beaten by other cards.
Just one of the biggest expenses I can think of is major auto repairs, or even buying a vehicle, but that's not a monthly thing.

Yes, 3% is a good catch-all, but since I don't have the AOD, my fall-back is a 2% card, and I put way WAY less than 1500 a month on it.
Even if my income doubled/tripled, I still don't see myself putting anywhere near 1500 a month on it.

BTW, don't forget Affinity is 2.5% with the caveat being you have to park 1k in a no-fee checking account... but, also capped at 10k per year.

10k isn't per year believe it is per month on Alliant.

Different people have different means.. Some people on this forum make 15k and some people make over a million a year. Can't bucket everyone in a single bucket as everyone spend is different and some people prefer cash back to other type of rewards and this was the king of all cards to do that without having to worry about caps and not having to did I max out my discover 5% cat of 1500 for the quarter when 1500 is chump change for many on this forum and can spend that easily in a dinner at a nice restaurant with friends or whatever just throwing out an example.

Also I am sure some did indeed use it for MS.

Re: AOD Nerf has come

CreditCuriosity — Tue, 14 May 2024 17:09:51 GMT

@ptatohed wrote:
@CreditCuriosity wrote:
Might be time to change rewards on Alliant card to Tier 1 from 1.5 to 2.5%... being whatever qualifying activities as that is capped 10k a month right?
True. I had started going down that road and actually started the Alliant credit union application (thinking I couldn't get in to AOD) when I had a change of mind and told myself 'you will get in to AOD'. I never finished the app. The bummer with Alliant is you have to keep $1000 held captive at 0.25%. So, if you would otherwise be getting 5% on that $1000 elsewhere, it's essentially a $47.5 'annual fee'. If you spend enough, the extra .5% over a 2% card will cover the $47.5 and more but it still is not optimum. Of course if and when savings rates drop, that gap will narrow. Time to start looking at the 3% Robinhood card? lol

Don't trust robinhood at all they have ***'ed over consumer before stopping trading on said things and don't put it past them again. I find them to be an unethial company personally.

Re: AOD Nerf has come

DoppelgangerD — Tue, 14 May 2024 17:12:22 GMT

@CreditCuriosity wrote:
@DoppelgangerD wrote:
For those of you with this card, I'd love to know what you're spending more than 1500 a month on that can't already be beaten by other cards.
Just one of the biggest expenses I can think of is major auto repairs, or even buying a vehicle, but that's not a monthly thing.

Yes, 3% is a good catch-all, but since I don't have the AOD, my fall-back is a 2% card, and I put way WAY less than 1500 a month on it.
Even if my income doubled/tripled, I still don't see myself putting anywhere near 1500 a month on it.

BTW, don't forget Affinity is 2.5% with the caveat being you have to park 1k in a no-fee checking account... but, also capped at 10k per year.
10k isn't per year believe it is per month on Alliant.

Different people have different means.. Some people on this forum make 15k and some people make over a million a year. Can't bucket everyone in a single bucket as everyone spend is different and some people prefer cash back to other type of rewards and this was the king of all cards to do that without having to worry about caps and not having to did I max out my discover 5% cat of 1500 for the quarter when 1500 is chump change for many on this forum and can spend that easily in a dinner at a nice restaurant with friends or whatever just throwing out an example.

Also I am sure some did indeed use it for MS.

So yeah, no doubt people are/were using it as a catch-all card for sure.

I mostly meant people who were not if I wasn't clear about that.

Sorry about the typo... fixed it.

I'm still not 100% on all the abbreviations. What's "MS"?

Re: AOD Nerf has come

CreditCuriosity — Tue, 14 May 2024 17:30:06 GMT

@DoppelgangerD wrote:
@CreditCuriosity wrote:
@DoppelgangerD wrote:
For those of you with this card, I'd love to know what you're spending more than 1500 a month on that can't already be beaten by other cards.
Just one of the biggest expenses I can think of is major auto repairs, or even buying a vehicle, but that's not a monthly thing.

Yes, 3% is a good catch-all, but since I don't have the AOD, my fall-back is a 2% card, and I put way WAY less than 1500 a month on it.
Even if my income doubled/tripled, I still don't see myself putting anywhere near 1500 a month on it.

BTW, don't forget Affinity is 2.5% with the caveat being you have to park 1k in a no-fee checking account... but, also capped at 10k per year.
10k isn't per year believe it is per month on Alliant.

Different people have different means.. Some people on this forum make 15k and some people make over a million a year. Can't bucket everyone in a single bucket as everyone spend is different and some people prefer cash back to other type of rewards and this was the king of all cards to do that without having to worry about caps and not having to did I max out my discover 5% cat of 1500 for the quarter when 1500 is chump change for many on this forum and can spend that easily in a dinner at a nice restaurant with friends or whatever just throwing out an example.

Also I am sure some did indeed use it for MS.
So yeah, no doubt people are/were using it as a catch-all card for sure.
I mostly meant people who were not if I wasn't clear about that.

Sorry about the typo... fixed it.

I'm still not 100% on all the abbreviations. What's "MS"?

Manufactured Spending can google it to get a better idea.

Re: AOD Nerf has come

DoppelgangerD — Tue, 14 May 2024 17:56:53 GMT

@CreditCuriosity wrote:
@DoppelgangerD wrote:
@CreditCuriosity wrote:
@DoppelgangerD wrote:
For those of you with this card, I'd love to know what you're spending more than 1500 a month on that can't already be beaten by other cards.
Just one of the biggest expenses I can think of is major auto repairs, or even buying a vehicle, but that's not a monthly thing.

Yes, 3% is a good catch-all, but since I don't have the AOD, my fall-back is a 2% card, and I put way WAY less than 1500 a month on it.
Even if my income doubled/tripled, I still don't see myself putting anywhere near 1500 a month on it.

BTW, don't forget Affinity is 2.5% with the caveat being you have to park 1k in a no-fee checking account... but, also capped at 10k per year.
10k isn't per year believe it is per month on Alliant.

Different people have different means.. Some people on this forum make 15k and some people make over a million a year. Can't bucket everyone in a single bucket as everyone spend is different and some people prefer cash back to other type of rewards and this was the king of all cards to do that without having to worry about caps and not having to did I max out my discover 5% cat of 1500 for the quarter when 1500 is chump change for many on this forum and can spend that easily in a dinner at a nice restaurant with friends or whatever just throwing out an example.

Also I am sure some did indeed use it for MS.
So yeah, no doubt people are/were using it as a catch-all card for sure.
I mostly meant people who were not if I wasn't clear about that.

Sorry about the typo... fixed it.

I'm still not 100% on all the abbreviations. What's "MS"?
Manufactured Spending can google it to get a better idea.

Yup, I know what THAT is, but all I could think of was "multiple sclerosis", lol. (not a funny disease btw)

I do still have a hard time though, seeing how MS would be worth it for that 1%, as it would have to be in the tens of thousands to make it worth while.

I doubt anyone is going to post how it could be done though, so I'll probably just have to keep wondering. 😉

Another scenario of how the high limit 3% could be advantageous for, would be paying high cost medical bills, but again, not likely to be a common theme.

Re: AOD Nerf has come

ptatohed — Wed, 15 May 2024 06:26:22 GMT

@DoppelgangerD wrote:
For those of you with this card, I'd love to know what you're spending more than 1500 a month on that can't already be beaten by other cards.

We spend about $2500 - $3000 regularly per month but sometimes more. The big ones are insurances (health, home, and auto). Also other recurring bills such as utilities, streaming, phone etc (yes, I know these can be paid with a 5% card which I will now seriously consider). All online spend (unless it's amazon, Target, Walmart, sometimes paypal, at 5%). Walmart in store. Any other non-cat physical stores such as Dollar Tree, etc. Several other misc non-cat bills such as my daughter's dance studio, son's karate, etc. I've even used it for big tax payments because the 3% exceeded the credit card fee they charged. For medical or dental or ortho, payments or co-pays when my HSA gets low. I 'almost' used it for $7,000 (max the dealer allowed) of my wife's 2022 Telluride purchase (Fall of '21) but it was one week before my AOD arrived so I used Double Cash, doh, lol. Other one time larger on-line purchases like my home theater chairs, receiver, projector, etc. A few months ago, we bought a $2500 sectional at Mor. And so on.