@Anonymous wrote:$47,896 is what you've ran through the card to get $718.44 in cash back, assuming QS didn't round up or down in the process.
If you were using a 2% card, and also paid the balance off if it were a Citi DC, you would've gotten $957.92 instead, a difference of $239.48
If you are waiting until you have $1,000 in cash back to redeem, you will need to put an additional $18,770.67 through your card.
You would be missing out on $93.85 if you were using a 2% card instead to make $18.77k in purchases.
Just wanted to do a quick comparison in case you or readers were wondering since none of the posts ran the numbers.
You are correct in the $47k run through the card.. I average just over $6k per month. The problem is I cannot get approved for any other cards. If you look at my FICOs below, you will see that I have mediocre at best scores. Amex gave me two $5k cards last month with only a 662 experian (I feel blessed)... but every other card company flat out denies me because I still have 50+ inquiries and a bunch of old tax leins from a failed family business in 2010. Amex was willing to look past the tax leins... but everyone else screams bloody murder when I apply... so 2% is not an option for me anytime soon sadly ;(
Discover wouldnt even give me a card.. just a secured card which I accepted to get in with them. I would use their card more but so far all 4 pay in fulls I have done on their card have resulted in 10 day holds.. meaning that 33% of the month I can't use my discover card. I spend $300-400 on it and pay if off and then have to wait 10 days.. must be because its secured. I thought they would trust me after a few payments cleared, but I guess not.
@core wrote:
@Anonymous wrote:At US Bank/Elan Financial, the executor or the estate can request in writing to have the cash value of the rewards redeemed. I think they'll issue it as a statement credit if there is a balance, otherwise they'll mail a check made payable to the estate.
Even for Cap One (the topic of the OP I think), I had no problems calling in to the automated system and requesting a redemption for my grandmother to result in a credit balance. I didn't have to talk to anyone... just did it from her phone number. (She's still alive; she just didn't know what the 20000 points meant on her statement.) My only point was: The executor may or may not be looking for a little tidbit at the bottom of the statement when going through a stack of 50 bills. If the individual is into the credit card game and knows all about it, then there's no real issues of course.
FWIW, in the event of death with rewards remaining on a Capital One card they do the right thing:
@kdm31091 wrote:
Look at it this way. Why earn rewards if you never claim them?
I see no problems with saving your rewards.... Put it like this way you can view it as savings for when you wantto buy a big ticket purchase or an vacation. You were going to buy the items you used the card for anyways. Like you want a shiny new 4K TV? You can simply use it to purchase that TV or the plane ticket to ummm Italy or whatever. Yeah you do run the risk of them closing the rewards so do it at your own risk
@dallasareaguy wrote:
What about creating a separate savings account to just put your rewards in so they can accumulate without being tied to Cap1? I was thinking about doing that with my rewards.I see your thoughts... I had been thinking that if I left things alone until Christmas time, I would have approximately $1250 in there based on current spend per month. This idea would make sense... have them send me a check and just deposit it into savings account.. removes any kind of risk whatsoever of rewards loss and would technically earn a couple bucks in interest as well. I might be about to hit the cashout button!
Eh than you have to pay taxes on the interest on that. Using it as a statement credit wouldnt be taxed so you dont have to pay for it...
There are a number of good ways to track rewards, each with their pros and cons... we just have to decide which is the best way for us.
I have an 'old' Serve card that is grandfathered - there's no monthly fee as long as I have a direct deposit of any dollar amount each month. I do an ACH 'push' for $10 each month from my USAA checking account to satisfy this requirement. I put the cash rewards from all of my cards there, I've currently got just under $1k saved up. 
My original plan was to save up to pay for Christmas, but when the time came I realized I was in good enough shape financially to simply pay for the gifts and "keep it going"... it's been two years so far. I don't get interest using the Serve card, but I have multiple ways to access my money... I can make a withdrawal at an ATM, ACH transfer to checking, use the bill pay feature to pay a credit card, or simply use the Serve card itself to make a purchase (I would only do this in an emergency, since it doesn't get rewards... haha).
To me, giving up the little bit of interest for not using a 'proper' savings account is worth it because I have easy access to my money. For others, a savings account might be a better method (especially if the amount is significantly higher).
I say 'kudos' to whatever method each of us use... just saying that we have a 'method' at all means we're saving, which is more than many folks do. 
@core wrote:UncleB, if your Serve card is still alive after the great Wrath of Amex, you weren't using it right!
hehehe... I know, right? 
I'm afraid I'm rather 'boring' when it comes to using my Serve... LOL
