topic Re: Banks with > 2.5% CB with relationship tiers? in Credit Cards

Banks with >2.5% CB with relationship tiers?

ptatohed — Wed, 10 Jul 2024 23:42:42 GMT

I would love to learn about more banks or Credit Unions that offer credit card Cash Back rewards greater than 2.5%, non-cat, no-AF, uncapped spend with relationship tiers. These are the only two I am aware of. Any more that you guys know of?

The obvious one: Bank Of America. Unlimited Cash Rewards card. 1.5% CB x 1.75 = 2.625% CB with Platinum Honors Tier. $100,000+

Logix Credit Union. Platinum Rewards Mastercard. 3x (3%) CB with Platinum Tier. $100,000+ (may be geofenced to CA, not sure)

Any others out there?

Re: Banks with > 2.5% CB with relationship tiers?

unsungivy — Wed, 10 Jul 2024 21:10:09 GMT

@ptatohed wrote:
I would love to learn about more banks or Credit Unions that offer credit card Cash Back rewards greater than 2.5%, non-cat, no-AF, uncapped spend with relationship tiers. These are the only two I am aware of. Any more that you guys know of?

The obvious one: Bank Of America. Unlimited Cash Rewards card. 1.5% CB x 1.75 = 2.625% CB with Platinum Honors Tier. $100,000+

Logix Credit Union. Platinum Rewards Mastercard. 3x (3%) CB with Platinum Tier. $100,000+ (may be geofenced to CA, not sure)

Any others out there?

Wow. I just learnt about Logix less than an hour ago. Stop looking over my shoulder. (Also it doesn't appear to be geo-fenced... at least the Reddit specifically has it in the NON-geofenced section.)

The Robinhood Gold card has a waitlist for their 3% card, and I would call needing to pay for the annual Gold level subscription a "relationship" tier. ($50 I think.)

Re: Banks with > 2.5% CB with relationship tiers?

swankytiger — Wed, 10 Jul 2024 19:12:27 GMT

next closest is Truist and it is at 2.25%

Re: Banks with > 2.5% CB with relationship tiers?

Anonymous — Wed, 10 Jul 2024 19:17:39 GMT

@ptatohed wrote:
I would love to learn about more banks or Credit Unions that offer credit card Cash Back rewards greater than 2.5%, non-cat, no-AF, uncapped spend with relationship tiers. These are the only two I am aware of. Any more that you guys know of?

The obvious one: Bank Of America. Unlimited Cash Rewards card. 1.5% CB x 1.75 = 2.625% CB with Platinum Honors Tier. $100,000+

Logix Credit Union. Platinum Rewards Mastercard. 3x (3%) CB with Platinum Tier. $100,000+ (may be geofenced to CA, not sure)

Any others out there?

Not a bank or CU but Fidelity! Also not valuable for most. Their card earns 3% flat if you have >$2M in MANAGED funds. (Between 2 and 3% at lower levels). This only makes sense if you believe the management has some value (or if you spend truly HUGE amounts on the card) as the fees are above $10-20K per year (so if you spend $20M on the card, you are getting value for money over a free 2%!)

Re: Banks with > 2.5% CB with relationship tiers?

ptatohed — Wed, 10 Jul 2024 19:54:54 GMT

@Anonymous wrote:
@ptatohed wrote:
I would love to learn about more banks or Credit Unions that offer credit card Cash Back rewards greater than 2.5%, non-cat, no-AF, uncapped spend with relationship tiers. These are the only two I am aware of. Any more that you guys know of?

The obvious one: Bank Of America. Unlimited Cash Rewards card. 1.5% CB x 1.75 = 2.625% CB with Platinum Honors Tier. $100,000+

Logix Credit Union. Platinum Rewards Mastercard. 3x (3%) CB with Platinum Tier. $100,000+ (may be geofenced to CA, not sure)

Any others out there?

Not a bank or CU but Fidelity! Also not valuable for most. Their card earns 3% flat if you have >$2M in MANAGED funds. (Between 2 and 3% at lower levels). This only makes sense if you believe the management has some value (or if you spend truly HUGE amounts on the card) as the fees are above $10-20K per year (so if you spend $20M on the card, you are getting value for money over a free 2%!)

I think this program has been suspended. https://digital.fidelity.com/prgw/digital/fidelityrewards/rewards/events-redirect/enrollment-pause

Re: Banks with > 2.5% CB with relationship tiers?

ptatohed — Wed, 10 Jul 2024 20:02:22 GMT

There is the Regions Bank Wealth Visa Sig but it's only 2.5%, has a $125 AF, and I can't find anywhere how much money you need to be a 'Regions Private Wealth Management client'. Boo.

Re: Banks with > 2.5% CB with relationship tiers?

Wu-Credit — Wed, 10 Jul 2024 20:19:26 GMT

@ptatohed wrote:
There is the Regions Bank Wealth Visa Sig but it's only 2.5%, has a $125 AF, and I can't find anywhere how much money you need to be a 'Regions Private Wealth Management client'. Boo.

My mortgage is with Regions and I used to have their Prestige VS. I think it's like $50k needed for the highest tier but it only registers deposit accounts (no investment or loan accounts). Basically a useless relationship lol.

Edit: My bad, the multipler tiers I'm referring to are different than the (probably a good option) Private Wealth client status: https://www.regions.com/insights/personal/budget-calculators/relationship-rewards-multiplier-calculator

Re: Banks with > 2.5% CB with relationship tiers?

creditfan — Wed, 10 Jul 2024 20:20:00 GMT

https://www.alliantcreditunion.org/bank/visa-signature-card

2.5% up to 10k spend monthly

Re: Banks with > 2.5% CB with relationship tiers?

losvedir — Wed, 10 Jul 2024 20:28:54 GMT

Somewhat related is this post I made to Reddit a few months ago: https://www.reddit.com/r/CreditCards/comments/1c0t9qy/cards_with_benefits_if_you_park_a_bunch_of_money/ about credit cards that have relationship bonuses generally.

Scanning that, I don't see any others with the cashback greater than 2.5% bonus you're asking about, though depending how you amortize the other benefits, some could have an "effective" cashback rate greater than that. (From waived AF's, free Costco membership, etc).

Re: Banks with > 2.5% CB with relationship tiers?

Anonymous — Wed, 10 Jul 2024 21:01:31 GMT

@ptatohed wrote:
I think this program has been suspended. https://digital.fidelity.com/prgw/digital/fidelityrewards/rewards/events-redirect/enrollment-pause

Oh, missed that! Perhaps it will come back even better, 3.25% for $100M AUM!

Re: Banks with > 2.5% CB with relationship tiers?

unsungivy — Wed, 10 Jul 2024 21:23:31 GMT

@losvedir wrote:
Somewhat related is this post I made to Reddit a few months ago: https://www.reddit.com/r/CreditCards/comments/1c0t9qy/cards_with_benefits_if_you_park_a_bunch_of_money/ about credit cards that have relationship bonuses generally.

Scanning that, I don't see any others with the cashback greater than 2.5% bonus you're asking about, though depending how you amortize the other benefits, some could have an "effective" cashback rate greater than that. (From waived AF's, free Costco membership, etc).

I mean, the Crypto I've earned on my Gemini card has basically come out to a 6.9% return on dining (which includes the local vending machines) if we're looking at EFFECTIVE cashback rate, which would be 2.3% for non-category spend (if I used it for that, but I don't). It makes me feel warm and fuzzy when I look at those stats, lol. It's lowkey awesome.

Re: Banks with >2.5% CB with relationship tiers?

AndySoCal — Thu, 11 Jul 2024 03:46:39 GMT

@ptatohed @unsungivy The link below is a list of states that you can become a member in. California is the only state with branches. You can become a member of Logix thru the American Consumer Council

https://www.logixbanking.com/about-us/become-a-member

Re: Banks with >2.5% CB with relationship tiers?

Wu-Credit — Sat, 13 Jul 2024 04:26:56 GMT

The Crypto.com Visa Debit has up to 5% back in CRO on all purchases depending on how much you have locked up. The drawback is of course the volatility of crypto but if you are holding long term this may be a good option.

https://crypto.com/us/cards

Re: Banks with >2.5% CB with relationship tiers?

ptatohed — Mon, 15 Jul 2024 00:42:21 GMT

@Wu-Credit wrote:
The Crypto.com Visa Debit has up to 5% back in CRO on all purchases depending on how much you have locked up. The drawback is of course the volatility of crypto but if you are holding long term this may be a good option.

https://crypto.com/us/cards

@Wu-Credit

Wow, thanks Wu. never heard of this. I know nothing about crypto but those rewards are very attractive. Am I reading the rewards correctly that at the $40,000 hold limit, Spotify, Netflix, Prime, etc. charges are reimbursed??

Re: Banks with >2.5% CB with relationship tiers?

Wu-Credit — Mon, 15 Jul 2024 04:21:19 GMT

@ptatohed wrote:
@Wu-Credit wrote:
The Crypto.com Visa Debit has up to 5% back in CRO on all purchases depending on how much you have locked up. The drawback is of course the volatility of crypto but if you are holding long term this may be a good option.

https://crypto.com/us/cards
@Wu-Credit

Wow, thanks Wu. never heard of this. I know nothing about crypto but those rewards are very attractive. Am I reading the rewards correctly that at the $40,000 hold limit, Spotify, Netflix, Prime, etc. charges are reimbursed??

Yes that is correct. There is also a current new customer welcome bonus pack where you can earn up to $500.

Re: Banks with >2.5% CB with relationship tiers?

digitek — Mon, 15 Jul 2024 14:52:38 GMT

I looked into the crypto.com card last night and it took me about 30 minutes to read through all the details and fine print. It's a strange one, not a credit card and not really a true debit card, it is a prepaid card that you load yourself. All rewards are not cash but given in CRO crypto tokens. Tiers require you hold this crypto token for set lengths of time. Cashback has a lot of excluded categories like utilities, rent, taxes and some others. 2% fee to withdraw cash from ATM using it for anything over $1k per month.

Going back about a year the token itself has increased in value by almost double. Not sure if it applies for this token/platform, but there are usually fees to exchange crypto to fiat so would have to be aware of that.

An interesting card for sure, definitely not typical and somewhat unique. Not sure it's for me, just too many caveats and strange provisions, but could be best card out there for some people.

The Logix one is a little more straightforward, but unlike BoA card it looks like you'd have to park it in savings and not an investment account.

I use the Fidelity card for simplicity since I already use them for other stuff. I am interested in what their rewards program change will be, hoping it makes it a little more easy to qualify.

Re: Banks with >2.5% CB with relationship tiers?

Anonymous — Mon, 15 Jul 2024 17:12:53 GMT

@digitek wrote:

I use the Fidelity card for simplicity since I already use them for other stuff. I am interested in what their rewards program change will be, hoping it makes it a little more easy to qualify.

It would be great if they just went with a high balance (since that is what I have) rather than managed funds, but I don't know if they have motivation. Obviously BoA feels it's worth getting $100K in ML and paying increased rewards (and maybe a lot of their Plat customers actually put it in non-investment accounts, which is a win for BoA).

For Fidelity, I doubt if the current rewards increase for lots of managed funds is that much of an incentive, more a nice to have. Given the fees, I need to be sure that it is offset by increased performance, much more than the extra 1% I can get on a relatively small amount of spend.

But maybe, if they just allowed total balance, it could cause some to swap from rival brokerages, especially if it was on the order of the BoA $100K.

ETA: Thinking about it, probably a lot of the MyFico Plat Honors would consider moving a $100K to Fidelity to get a flat 3%, especially if they can leave $100K at BoA to get the 5.25% category spend as well

Re: Banks with >2.5% CB with relationship tiers?

digitek — Mon, 15 Jul 2024 19:11:41 GMT

@Anonymous wrote:
@digitek wrote:

I use the Fidelity card for simplicity since I already use them for other stuff. I am interested in what their rewards program change will be, hoping it makes it a little more easy to qualify.
It would be great if they just went with a high balance (since that is what I have) rather than managed funds, but I don't know if they have motivation. Obviously BoA feels it's worth getting $100K in ML and paying increased rewards (and maybe a lot of their Plat customers actually put it in non-investment accounts, which is a win for BoA).

For Fidelity, I doubt if the current rewards increase for lots of managed funds is that much of an incentive, more a nice to have. Given the fees, I need to be sure that it is offset by increased performance, much more than the extra 1% I can get on a relatively small amount of spend.
But maybe, if they just allowed total balance, it could cause some to swap from rival brokerages, especially if it was on the order of the BoA $100K.

ETA: Thinking about it, probably a lot of the MyFico Plat Honors would consider moving a $100K to Fidelity to get a flat 3%, especially if they can leave $100K at BoA to get the 5.25% category spend as well

Yeah I am wondering why they halted the program for changes. Was the extra 1% costing them more than they wanted? Was the program not getting as many customers because the bar was too high? I'm hoping the changes are for total amount of funds, not just those under active management because like you I have a not insignificant amount of money with them, just not in active management.

As a side note when looking into this I found out that the Cash Management Acccount core position can be held in SPAXX now. Thats basically a checking account offering 5% interest, no hoops, for anyone interested.

More related to this thread I just found out that US Bank has something now called the Smart Rewards program. It's kind of like the others here, more money with them gets better perks and one of them is credit card spending offers that are only available for customers in the Smart Rewards program, minimum of $20k. I wasn't able to find much about the exclusive card spend offers, but what I could find sounded really good, like 15% grocery, dining, gas, etc... I haven't seen anything on these boards about it and just searched it and couldn't find anything, either. If those offers are consistently good like that it could be really useful. I use Altitude Reserve a lot and that would help boost rewards even more. Does anyone have any more information on US Bank Smart Rewards CC spend offers?

https://www.usbank.com/bank-accounts/checking-accounts/smart-rewards.html

The only information I could find on the Smart Rewards spend offers:

https://www.reddit.com/r/CreditCards/comments/1ctlj0b/merchant_offers_review_of_us_bank_amex_and_bank/

https://www.reddit.com/r/CreditCards/comments/1cy5lcw/us_bank_smart_rewards_worth_opening_an_account_for/

*Edit* Here is another link from US Bank that covers the CC spend offers, looks like it was an update to the program that happened in Oct 2023. Limited to $135 a quarter, offers change every 45 days.

https://www.usbank.com/about-us-bank/company-blog/article-library/us-bank-smart-rewards-benefits-expand.html

Re: Banks with >2.5% CB with relationship tiers?

ptatohed — Mon, 15 Jul 2024 21:52:36 GMT

Great stuff, thanks @digitek .

Re: Banks with >2.5% CB with relationship tiers?

Wu-Credit — Mon, 15 Jul 2024 22:16:20 GMT

@digitek wrote:
I looked into the crypto.com card last night and it took me about 30 minutes to read through all the details and fine print. It's a strange one, not a credit card and not really a true debit card, it is a prepaid card that you load yourself. All rewards are not cash but given in CRO crypto tokens. Tiers require you hold this crypto token for set lengths of time. Cashback has a lot of excluded categories like utilities, rent, taxes and some others. 2% fee to withdraw cash from ATM using it for anything over $1k per month.

Going back about a year the token itself has increased in value by almost double. Not sure if it applies for this token/platform, but there are usually fees to exchange crypto to fiat so would have to be aware of that.

An interesting card for sure, definitely not typical and somewhat unique. Not sure it's for me, just too many caveats and strange provisions, but could be best card out there for some people.

Crypto.com is one of the few exchanges that doesn't have maker/taker fees, but the spread on the app (can only place market orders) is pretty bad. When compared to others that do have those fees but allow advanced trading, sometimes those other choices are better. The crytpo.com web platform does have limit orders but it is currently unavailable in the US. Rumor is it should return early 2025.

I only use crypto.com for CRO. I use Coinbase Advancrd for my other crypto holding.

#1 rule I learned before diving into crypto recently is to only invest what you can afford to lose.

topic Re: Banks with &gt; 2.5% CB with relationship tiers? in Credit Cards

Banks with >2.5% CB with relationship tiers?

Re: Banks with > 2.5% CB with relationship tiers?

Re: Banks with > 2.5% CB with relationship tiers?

Re: Banks with > 2.5% CB with relationship tiers?

Re: Banks with > 2.5% CB with relationship tiers?

Re: Banks with > 2.5% CB with relationship tiers?

Re: Banks with > 2.5% CB with relationship tiers?

Re: Banks with > 2.5% CB with relationship tiers?

Re: Banks with > 2.5% CB with relationship tiers?

Re: Banks with > 2.5% CB with relationship tiers?

Re: Banks with > 2.5% CB with relationship tiers?

Re: Banks with >2.5% CB with relationship tiers?

Re: Banks with >2.5% CB with relationship tiers?

Re: Banks with >2.5% CB with relationship tiers?

Re: Banks with >2.5% CB with relationship tiers?

Re: Banks with >2.5% CB with relationship tiers?

Re: Banks with >2.5% CB with relationship tiers?

Re: Banks with >2.5% CB with relationship tiers?

Re: Banks with >2.5% CB with relationship tiers?

Re: Banks with >2.5% CB with relationship tiers?

topic Re: Banks with > 2.5% CB with relationship tiers? in Credit Cards