topic Re: Paying rent with cash back card... in Credit Cards

Paying rent with cash back card...

j_casteel — Wed, 22 May 2013 21:17:30 GMT

I'm going to have to be relocating for work soon, and a mortgage fell through due to DTI, new accounts, etc. with NFCU and they basically said sell stuff and let things age then try back in 6-12 months. That's fine, but now we're going to have to rent, and the area we're renting is ridiculously expensive. They don't take checks due to the massive amount of people from out of state and just overall bad checks being written i guess. So my only options are cash, cashiers check, money order, or credit card. The most convienent way would just be going to the office and swiping my card. However, they charge a 1.5% swipe fee (they said that's what they get charged). I'm currently earning 1.5% cash back on my NFCU cashRewards card so I would basically break even by doing that and then earn cash back by everything else I use it for. Do you think it would be fine to do that? I think it is an alright plan, but like to hear what you all think. BTW, I'm relocating to Williston, ND and getting a "discount" on a 3bd 2bth apartment with private garage for $2,700 per month plus electric and cable/internet.

thanks,

j_casteel

Re: Paying rent with cash back card...

shols44 — Wed, 22 May 2013 21:41:03 GMT

@j_casteel wrote:
I'm going to have to be relocating for work soon, and a mortgage fell through due to DTI, new accounts, etc. with NFCU and they basically said sell stuff and let things age then try back in 6-12 months. That's fine, but now we're going to have to rent, and the area we're renting is ridiculously expensive. They don't take checks due to the massive amount of people from out of state and just overall bad checks being written i guess. So my only options are cash, cashiers check, money order, or credit card. The most convienent way would just be going to the office and swiping my card. However, they charge a 1.5% swipe fee (they said that's what they get charged). I'm currently earning 1.5% cash back on my NFCU cashRewards card so I would basically break even by doing that and then earn cash back by everything else I use it for. Do you think it would be fine to do that? I think it is an alright plan, but like to hear what you all think. BTW, I'm relocating to Williston, ND and getting a "discount" on a 3bd 2bth apartment with private garage for $2,700 per month plus electric and cable/internet.

thanks,

j_casteel

Finally, I can say I know someone in ND! (sort of)-LOL. Even though I am still beefing on your mad NFCU soft only CLIs, I have a solution for you.

PC to the flagship card no HP involved. You will get 2pts/$1. With rent only you will earn 64,800pts annually. Redeem that for a cool $450. With your current spending though, you can redeem 100K points for $750-Nice profit!

Re: Paying rent with cash back card...

Anonymous — Wed, 22 May 2013 21:27:30 GMT

Genius idea shols44.

Re: Paying rent with cash back card...

Anonymous — Wed, 22 May 2013 21:28:00 GMT

Yes, it sounds fine. Just watch that the extra rent charge doesn't push the utilization too high.

With the right cards, you can do better (5x TY card to buy GC and use to buy money orders) but probably too much work!

Re: Paying rent with cash back card...

broseph23 — Wed, 22 May 2013 21:35:22 GMT

Damn $2700 for apartment rent in North Dakota!?? Those are like downtown Seattle prices, and rent keeps going up here!

Re: Paying rent with cash back card...

Anonymous — Wed, 22 May 2013 21:37:34 GMT

@broseph23 wrote:
Damn $2700 for apartment rent in North Dakota!?? Those are like downtown Seattle prices, and rent keeps going up here!

Must be a good view.

Re: Paying rent with cash back card...

Anonymous — Wed, 22 May 2013 21:39:33 GMT

So just to put numbers on the TY suggestion:

$2,700 of MC/V costs 6*$4.95= $29.70 (cheaper to buy 5 and use $200 in cash, but anyway), conversion to money order (at Walmart for example) about $3.

So total cost is about $33 a month

This earns $135 in TYP so about $102 gain per month, about $1200 a year. So maybe worth it! (And this level of spend is probably safe enough)

Re: Paying rent with cash back card...

j_casteel — Wed, 22 May 2013 21:59:17 GMT

@shols44 wrote:
@j_casteel wrote:
I'm going to have to be relocating for work soon, and a mortgage fell through due to DTI, new accounts, etc. with NFCU and they basically said sell stuff and let things age then try back in 6-12 months. That's fine, but now we're going to have to rent, and the area we're renting is ridiculously expensive. They don't take checks due to the massive amount of people from out of state and just overall bad checks being written i guess. So my only options are cash, cashiers check, money order, or credit card. The most convienent way would just be going to the office and swiping my card. However, they charge a 1.5% swipe fee (they said that's what they get charged). I'm currently earning 1.5% cash back on my NFCU cashRewards card so I would basically break even by doing that and then earn cash back by everything else I use it for. Do you think it would be fine to do that? I think it is an alright plan, but like to hear what you all think. BTW, I'm relocating to Williston, ND and getting a "discount" on a 3bd 2bth apartment with private garage for $2,700 per month plus electric and cable/internet.

thanks,

j_casteel

Finally, I can say I know someone in ND! (sort of)-LOL. Even though I am still beefing on your mad NFCU soft only CLIs, I have a solution for you.

PC to the flagship card no HP involved. You will get 2pts/$1. With rent only you will earn 64,800pts annually. Redeem that for a cool $450. With your current spending though, you can redeem 100K points for $750-Nice profit!

Thanks for the info!

Thats sounds like a good idea....since I don't want to apply for anything else til I can get a house I rather do the PC to the flagship card than apply for the TY card. I've been averaging ~$3k or more through my card just by making it my daily use and paying every bill i can through it that doesn't have to be an ACH payment. I then just make one big payment each month on it. So, that is probably going to be my option. Seems like i can be racking up some serious points.

So is the flagship card just points and not cashback?

Re: Paying rent with cash back card...

Anonymous — Wed, 22 May 2013 21:58:02 GMT

@j_casteel wrote:
@shols44 wrote:
@j_casteel wrote:
I'm going to have to be relocating for work soon, and a mortgage fell through due to DTI, new accounts, etc. with NFCU and they basically said sell stuff and let things age then try back in 6-12 months. That's fine, but now we're going to have to rent, and the area we're renting is ridiculously expensive. They don't take checks due to the massive amount of people from out of state and just overall bad checks being written i guess. So my only options are cash, cashiers check, money order, or credit card. The most convienent way would just be going to the office and swiping my card. However, they charge a 1.5% swipe fee (they said that's what they get charged). I'm currently earning 1.5% cash back on my NFCU cashRewards card so I would basically break even by doing that and then earn cash back by everything else I use it for. Do you think it would be fine to do that? I think it is an alright plan, but like to hear what you all think. BTW, I'm relocating to Williston, ND and getting a "discount" on a 3bd 2bth apartment with private garage for $2,700 per month plus electric and cable/internet.

thanks,

j_casteel

Finally, I can say I know someone in ND! (sort of)-LOL. Even though I am still beefing on your mad NFCU soft only CLIs, I have a solution for you.

PC to the flagship card no HP involved. You will get 2pts/$1. With rent only you will earn 64,800pts annually. Redeem that for a cool $450. With your current spending though, you can redeem 100K points for $750-Nice profit!

Thanks for the info!

Thats sounds like a good idea....since I don't want to apply for anything else til I can get a house I rather do the PC to the flagship card then apply for the TY card. I've been averaging ~$3k or more through my card just by making it my daily use and paying every bill i can through it that doesn't have to be an ACH payment. I then just make one big payment each month on it. So, that is probably going to be my option. Seems like i can be racking up some serious points.

So is the flagship card just points and not cashback?

You can redeem your points for cashback.

Re: Paying rent with cash back card...

j_casteel — Wed, 22 May 2013 21:58:41 GMT

@broseph23 wrote:
Damn $2700 for apartment rent in North Dakota!?? Those are like downtown Seattle prices, and rent keeps going up here!

tell me about it!! Duplexes, townhomes, and houses are much much more. We plan on renting for 6-12 months until we find a nice place to buy which is still pricey but not as pricey.

Re: Paying rent with cash back card...

09Lexie — Wed, 22 May 2013 22:07:06 GMT

I'm still stunned at the cost of living in ND! I'm in So Cal and I thought rent here was high.

Re: Paying rent with cash back card...

unc0mm0n1 — Wed, 22 May 2013 23:02:20 GMT

@shols44 wrote:
@j_casteel wrote:
I'm going to have to be relocating for work soon, and a mortgage fell through due to DTI, new accounts, etc. with NFCU and they basically said sell stuff and let things age then try back in 6-12 months. That's fine, but now we're going to have to rent, and the area we're renting is ridiculously expensive. They don't take checks due to the massive amount of people from out of state and just overall bad checks being written i guess. So my only options are cash, cashiers check, money order, or credit card. The most convienent way would just be going to the office and swiping my card. However, they charge a 1.5% swipe fee (they said that's what they get charged). I'm currently earning 1.5% cash back on my NFCU cashRewards card so I would basically break even by doing that and then earn cash back by everything else I use it for. Do you think it would be fine to do that? I think it is an alright plan, but like to hear what you all think. BTW, I'm relocating to Williston, ND and getting a "discount" on a 3bd 2bth apartment with private garage for $2,700 per month plus electric and cable/internet.

thanks,

j_casteel

Finally, I can say I know someone in ND! (sort of)-LOL. Even though I am still beefing on your mad NFCU soft only CLIs, I have a solution for you.

PC to the flagship card no HP involved. You will get 2pts/$1. With rent only you will earn 64,800pts annually. Redeem that for a cool $450. With your current spending though, you can redeem 100K points for $750-Nice profit!

Are you sure about that return rate. If I'm not mistaken NFCU gives you 1500 cashback for 100K points.

Re: Paying rent with cash back card...

GuyInFlorida — Wed, 22 May 2013 23:03:39 GMT

I think I read something about ND and oil/natural gas exploration was causing the rents to skyrocket in small towns. Keep in mind, I pay what you pay... But I'm in a highrise in downtown Miami with a view of Biscayne Bay. Gives you some perspective on the prices in North Dakota, eh?

Will they take American Express? I think you'd rack up some nice points on a PRG Gold card...

Re: Paying rent with cash back card...

j_casteel — Wed, 22 May 2013 23:23:51 GMT

Yeah, the oil boom in the Bakken Shale is causing everything to skyrocket. My company is a large NG and NGL processing and midstream company that moves all the product up there. So once all the drill rigs and E&P companies move on we'll still be there for long-term. I currently work in Tulsa, OK but they are needing the help up there and the pay and bonuses are right so we're willing to relocate to Williston. There is no beautiful views up there, but there is money to be made and the city is developing more and more each day. Hunting and fishing is really good so that's a plus. Housing is there just gotta be prepared to pay for it.

Guess I'll give NFCU a call and ask about PC'ing my cashRewards to a Flagship. I could PC my Platinum but it's too low of a CL. I may do it sometime anyway since it has no rewards or anything.

Re: Paying rent with cash back card...

j_casteel — Wed, 22 May 2013 23:37:04 GMT

You guys think I could PC my Platinum MC to the Flagship with no HP and get an increase in CL, or would that be asking for too much?

Re: Paying rent with cash back card...

Revelate — Wed, 22 May 2013 23:57:34 GMT

@09Lexie wrote:
I'm still stunned at the cost of living in ND! I'm in So Cal and I thought rent here was high.

Good grief, that rent is nearly identical to the 600K mortgage at 4% I'm likely stuck with in S. Cal next year.

Re: Paying rent with cash back card...

j_casteel — Thu, 23 May 2013 00:00:48 GMT

@Revelate wrote:
@09Lexie wrote:
I'm still stunned at the cost of living in ND! I'm in So Cal and I thought rent here was high.
Good grief, that rent is nearly identical to the 600K mortgage at 4% I'm likely stuck with in S. Cal next year.

Thanks for reminding me....i appreciate everyone reminding me how expensive it is.

Re: Paying rent with cash back card...

j_casteel — Thu, 23 May 2013 00:05:21 GMT

seriously though, it does suck how ridiculous the renting/housing is in the area, but it is what it is. The plan is to get into a house, which will be cheaper, within a year. Renting is way way pricey and buying is only regular pricey.

Re: Paying rent with cash back card...

Anonymous — Thu, 23 May 2013 00:06:07 GMT

@j_casteel wrote:
seriously though, it does suck how ridiculous the renting/housing is in the area, but it is what it is. The plan is to get into a house, which will be cheaper, within a year. Renting is way way pricey and buying is only regular pricey.

Well, best of luck in the home buying process later this year!

Re: Paying rent with cash back card...

j_casteel — Thu, 23 May 2013 00:13:54 GMT

@Anonymous wrote:
@j_casteel wrote:
seriously though, it does suck how ridiculous the renting/housing is in the area, but it is what it is. The plan is to get into a house, which will be cheaper, within a year. Renting is way way pricey and buying is only regular pricey.
Well, best of luck in the home buying process later this year!

thank you....i'll let you all know how the PC to Flagship goes