After being on the waitlist since the card released, and being a gold member for most of the past two years, I finally got invited ("pre-approved") to apply for the gold card. I fully expected to get denied since I was already at 5/24 and a lot of inquires but it very easily and quickly went through and surprisingly hasn't used a HI (yet?). Something very interesting with this card was that it gave me the option to pay for a higher credit limit. Starting with 10k minimum, every 2k I deposited in their brokerage would give me another 1k of limit. I elected not to because 10k is more than enough and I've seen reports of them lowering CLs regardless.
This card is a no-brainer for me, who doesn't want a 3% catch all? While I'd much rather have the USBAR (rip), this fancy card is a solid lock for however long it is before they change the terms.
As far as why/how I got invited, my theory is: with the market being down so much this year, they might be sending out more apps to get more cash into their platform (by paying for CL essentially) to combat people who might be slowing down their investments or withdrawing entirely, but that's just a conspiracy. My stats with them is that I've been with them for 4 years and I have about 4k total in there right now and I even signed up for their free 1k account management last week.
Now that I'm on 6/24, I don't think I'll be getting a new card soon, the next card I'm looking at is the Amex plat or a CSP to start my Chase Trifecta.
@FicoMike0 wrote:Congratulations!
Who is their bank?
Coastal Community Bank according to the cardholder agreement.
@Tiggr wrote:
After being on the waitlist since the card released, and being a gold member for most of the past two years, I finally got invited ("pre-approved") to apply for the gold card. I fully expected to get denied since I was already at 5/24 and a lot of inquires but it very easily and quickly went through and surprisingly hasn't used a HI (yet?). Something very interesting with this card was that it gave me the option to pay for a higher credit limit. Starting with 10k minimum, every 2k I deposited in their brokerage would give me another 1k of limit. I elected not to because 10k is more than enough and I've seen reports of them lowering CLs regardless.
This card is a no-brainer for me, who doesn't want a 3% catch all? While I'd much rather have the USBAR (rip), this fancy card is a solid lock for however long it is before they change the terms.
As far as why/how I got invited, my theory is: with the market being down so much this year, they might be sending out more apps to get more cash into their platform (by paying for CL essentially) to combat people who might be slowing down their investments or withdrawing entirely, but that's just a conspiracy. My stats with them is that I've been with them for 4 years and I have about 4k total in there right now and I even signed up for their free 1k account management last week.
Now that I'm on 6/24, I don't think I'll be getting a new card soon, the next card I'm looking at is the Amex plat or a CSP to start my Chase Trifecta.
Congratulations!
@trant3 wrote:Congratulations! One thing I noticed about this card is that you can only redeem the 3% cash back into your RH brokerage account and cannot withdraw it into a bank. So you basically have to invest the 3%. I ended up closing the card.
Oh wow! When can you withdraw it?
@trant3 wrote:Congratulations! One thing I noticed about this card is that you can only redeem the 3% cash back into your RH brokerage account and cannot withdraw it into a bank. So you basically have to invest the 3%. I ended up closing the card.
Upon looking into this further, searching forums, and looking throught the rewards agreement, it seems like there is no restriction to taking it out. So it's pretty simple that you just redeem for full value into your brokerage, and then ACH transfer into your bank no problem.
