AOD Nerf has come

[ptatohed]

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@Citylights18 wrote:

Glad I avoided the AOD hype train in the first place.

There are so many restaurant or grocery cards that do 3% or better. BoA has 3% online shopping. Amazon has 5% cards. There aren't too many holes to be filled for a catch all 3% card anyways. Utilities charge more if you don't direct deposit which negates any cash back.

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Not true at all.  There is plenty of spend that many of us do that can't be covered by a 3-5% CB capped card.  I gave just some of my many examples previously in this thread.  We are not talking about restaurant or grocery or amazon.  We are talking about non-cat spending.  My utilities charge a small fixed fee and the AOD 3% way trumped the fee to get 3% cash back.  

[longtimelurker]

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@Hansolojr wrote:

RIP AOD 3% - thought it would last longer since they closed the bike club backdoor, but 3% uncapped is just too painful.  

 Did that happen?  I thought they just closed the card to new applicants.

[CreditCuriosity]

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@longtimelurker wrote:

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@Hansolojr wrote:

RIP AOD 3% - thought it would last longer since they closed the bike club backdoor, but 3% uncapped is just too painful.  

 Did that happen?  I thought they just closed the card to new applicants.

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Think still can join AOD that way but kinda pointless joining CU after the CC was no longer able to be applied for.

[longtimelurker]

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@Citylights18 wrote:

Glad I avoided the AOD hype train in the first place.

There are so many restaurant or grocery cards that do 3% or better. BoA has 3% online shopping. Amazon has 5% cards. There aren't too many holes to be filled for a catch all 3% card anyways. Utilities charge more if you don't direct deposit which negates any cash back.

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MyFico rule 97(a):  My situation isn't universal.

Here in the Boston area some utilities did indeed charge a fee, but it was small (~ $2.50 for up to $600) so paying $600 with a 5% card left you well ahead, even with the lost interest on the float for maybe two months.   For a while Paypal Bill Pay meant you could avoid the fee anyway, and now at least one utility has dropped the credit card fee entirely.   So you are losing money by not using a credit card.

Back to AOD:

And, unlike you, I regret not being on the AOD bandwagon (I joined the much shorter lived USAlliance).   I did a lot of non-category spend (around $30K last year) on a 2% card so I would have got an additional $300, and that's just one year.  And that excludes some major tax payments, where the fee was too much for a 2% card, but would be net positive for 3%.   Even if the card was now useless, or close, 3 or 4 years of that isn't bad at all.   And the nerfed AOD has some residual value, quite a lot for some.

[Wavester64]

@Bockrocker 

>>Only hoop is a direct deposit, but the $1 I divert from my paycheck works to trigger SoFi Plus.

Wow, I did not know this, very interesting, thanks for the info.

I wish just doing an ACH Transfer would trigger the SoFi Plus - I do those quite often to SoFi. 

[xenon3030]

You might need to be a bit careful with SoFi products and none of them is perfect. For checking, since use plaid for external transactions, I use my other banks to do an ACH pull from my SoFi checking.

[gdale6]

JC thats 17.99 for you now, if I had an account it would be closed and I would find another organization. The greed of banks and some CUs is outrageous.

[30mm_goes_BRRRT]

So to confirm, is this card available for new applicants to apply for? And if so, what's the easiest way to get around the geofence? 3% for $1500 spend per month isn't bad... asking because with this change, maybe they'll reopen to the new apps. Thanks!

[Wu-Credit]

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@Bubblewhale wrote:

Pretty much all of my cash/emergency fund is under TTTXX with Merrill Edge CMA. Sell before 11:45AM PST trading day and can access the money instantly with Merrill/BoA.

Currently TTTXX money market fund is sitting at 5.18% 7 day yield. It mostly deals with Treasuries so it's more state-tax exempt compared to like SPAXX. But keep in mind once the fed drops rates, this also drops. 

It's nice having this option while making my way towards Platinum Honors while counting my IRAs. One of the best options to get towards highest flat cashback 2.625%. With the BoA PR, it can be a "free $5 per year card" depending how you use your travel credits. 

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This is the way

[CreditCuriosity]

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@30mm_goes_BRRRT wrote:

So to confirm, is this card available for new applicants to apply for? And if so, what's the easiest way to get around the geofence? 3% for $1500 spend per month isn't bad... asking because with this change, maybe they'll reopen to the new apps. Thanks!

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No this card IS NOT available to be applied for.  I would be shocked if they opened it up to new APPs even with the nerf as likely would be overwhelmed for a tiny CU