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I have the ability to pay my rent each month over the internet by CC. Only accept MC, Visa, and Discover. My rent is almost 3k a month. So I can put some serious spend on the card pretty quickly.
It costs me 1% for each payment. I know I can use my NFCU Flagship and get 2% back and make a little money.
Is there another card that is better? Cash back or rewards points....doesn't really matter.
Thanks for your help!
Others will contribute more, but 2% is going to be about the best you can do in this case. However, if you were able to get ahold of the Alliant Visa Signature, that gives you 2.5%. It has an AF of $99, but putting 3k through it every month would waaaay more than make up for that. We’re talking like 900 bucks a year.
All of these options involve an annual fee and/or an asset requirement, but you might investigate...
BofA Travel Rewards w/ Platinum Honors
BofA Premium Rewards w/ Platinum Honors
BofA Virgin Atlantic
Chase United Club
Chase Freedom Unlimited paired with an AF Sapphire or Ink card
Disco Miles will pay 3% for the first 12 months and then it drops to 1.5% like CFU... CFU is also the same structure right now for the first year.
@pinkandgrey wrote:Others will contribute more, but 2% is going to be about the best you can do in this case. However, if you were able to get ahold of the Alliant Visa Signature, that gives you 2.5%. It has an AF of $99, but putting 3k through it every month would waaaay more than make up for that. We’re talking like 900 bucks a year.
Remember that per the OP there is a 1% fee associated with a CC payment, but it's not hard to do the math.
Using the NFCU Flagship would give a net gain of $311/yr, as the card has a $49 AF.
Using a no-AF 2% card like a Citi DoubleCash would give a net yearly gain of $360.
Using an Alliant Signature would yield a net gain of $621 year 1, $441/yr afterward. If you recall, the Signature has 3% CB the 1st year.
The Alliant Signature is not all that easy a card to get either, Alliant can be squirrely about new accounts and total existing aggregate CL in the portfolio.
@Anonymous wrote:Disco Miles will pay 3% for the first 12 months and then it drops to 1.5% like CFU... CFU is also the same structure right now for the first year.
CFU is only like that for the first $20K.
@coldfusion wrote:
@pinkandgrey wrote:Others will contribute more, but 2% is going to be about the best you can do in this case. However, if you were able to get ahold of the Alliant Visa Signature, that gives you 2.5%. It has an AF of $99, but putting 3k through it every month would waaaay more than make up for that. We’re talking like 900 bucks a year.
Remember that per the OP there is a 1% fee associated with a CC payment, but it's not hard to do the math.
Using the NFCU Flagship would give a net gain of $311/yr, as the card has a $49 AF.
Using a no-AF 2% card like a Citi DoubleCash would give a net yearly gain of $360.
Using an Alliant Signature would yield a net gain of $621 year 1, $441/yr afterward. If you recall, the Signature has 3% CB the 1st year.
The Alliant Signature is not all that easy a card to get either, Alliant can be squirrely about new accounts and total existing aggregate CL in the portfolio.
The Alliant VS still adds up if you ask me lol (other than being difficult to acquire)
so, OP wold have to find another option for the last 2 months of the cycle like Disco Miles whcih is unlimited for the first 12 months.
As long as you're earning 2% or higher you're not wasting money other than the service fee. It's hard to come up w/ a higher payout on "residential" charges due to the fees. Sure the BOA thing is an option if you have 100K sitting around and don't want to make a decent APY on that money sitting in a deposit account..
Thanks all.
The BOA is an option. Did a little research and can move the money to Merril Lynch... so can continue to make money on the 100k. TPG has a nice review of the card.