Got my first Blispay statement + CASH BACK!!

[Gmood1]

https://www.depositaccounts.com/checking/reward-checking-accounts.html

Here you go JustMe3. Just plug in your numbers. The system will do the math for you. Then add 2% on top of that.

[Anonymous]

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@Gmood1 wrote:
https://www.depositaccounts.com/checking/reward-checking-accounts.html

Here you go JustMe3. Just plug in your numbers. The system will do the math for you. Then add 2% on top of that.

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Thank you so much Gmood1!!

[Anonymous]

Great thread!

[Themanwhocan]

I suppose I could use the Blispay for my cheap Burger King lunches. I usually just buy a bacon double cheeseburger, so thats roughly $2.50

Then immediately pay off the Blispay account using my Discover checking, which pays 10 cents per transaction, including paying online bills.

So I get 2% cash back from Blispay, then 10 cents on a $2.50 transaction is 4% cash back. so I would total 6% cash back... (if I skip the bacon, its 7% cash back)

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Lets see, today I splurged and got a combo (double stacker, small fries, small drink, via coupon) for $4.31, so 10 cents would be 2.32% cash back. So if i had funneled it through Blispay and paid ASAP via Discover Checking, I would have got 4.32% cash back for that meal. 

Of course, this only works for very small, daily transactions And it depends on how frequently Blispay allows one to pay, and how quickly the transactions post so that you can pay.

[woodyman100]

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@Themanwhocan wrote:

I suppose I could use the Blispay for my cheap Burger King lunches. I usually just buy a bacon double cheeseburger, so thats roughly $2.50

Then immediately pay off the Blispay account using my Discover checking, which pays 10 cents per transaction, including paying online bills.

So I get 2% cash back from Blispay, then 10 cents on a $2.50 transaction is 4% cash back. so I would total 6% cash back... (if I skip the bacon, its 7% cash back)

------

Lets see, today I splurged and got a combo (double stacker, small fries, small drink, via coupon) for $4.31, so 10 cents would be 2.32% cash back. So if i had funneled it through Blispay and paid ASAP via Discover Checking, I would have got 4.32% cash back for that meal. 

Of course, this only works for very small, daily transactions And it depends on how frequently Blispay allows one to pay, and how quickly the transactions post so that you can pay.

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I am always beyond impressed with your research. I love it!

[Themanwhocan]

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@woodyman100 wrote:

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@Themanwhocan wrote:

I suppose I could use the Blispay for my cheap Burger King lunches. I usually just buy a bacon double cheeseburger, so thats roughly $2.50

Then immediately pay off the Blispay account using my Discover checking, which pays 10 cents per transaction, including paying online bills.

So I get 2% cash back from Blispay, then 10 cents on a $2.50 transaction is 4% cash back. so I would total 6% cash back... (if I skip the bacon, its 7% cash back)

------

Lets see, today I splurged and got a combo (double stacker, small fries, small drink, via coupon) for $4.31, so 10 cents would be 2.32% cash back. So if i had funneled it through Blispay and paid ASAP via Discover Checking, I would have got 4.32% cash back for that meal. 

Of course, this only works for very small, daily transactions And it depends on how frequently Blispay allows one to pay, and how quickly the transactions post so that you can pay.

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I am always beyond impressed with your research. I love it!

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Well, we haven't actually tested it yet

This all hinges on whether Discover Checking accepts paying off a credit card as "paying a bill online". One would think they would have thought of this loophole.

[EJMiv]

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@Gmood1 wrote:
It's simple my friend. Most of us here normally pay our CC bills in full monthly. Let's say you make a purchase of $2400 with your CCs. Normally within a month your transferring that money out of your account to the CC company or companies. That money isn't earning you money in your checking account anymore.

Enter the Blispay that's giving you 0% for 6 months. Your going to get $48 cash back if the card is 2% regardless.
Let's say you have a Checking rewards account earning 3%. For the time that $2400 sits in your account, you've earned another $36. If it is a recurring bill that you can charge every 6 months, in a year you've earned around $120 off that $2400 purchase.
In layman terms, the longer your funds sit in the rewards checking account.. the more you earn from it.

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Very nice explanation of the time value of money!

[noobody]

Can you pay .01 432 times, so you eat the combo free plus make $39?

[Themanwhocan]

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@noobody wrote:
Can you pay .01 432 times, so you eat the combo free plus make $39?

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Nope, Discover has a limit of 100 transactions per month. plus they do mention they will prevent manufactured transactions.

So you could do this occasionally, but can't go to extremes. Assuming it works at all.

[Anonymous]

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@lokobo wrote:
Has it reported to any of your credit reports yet??

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I have the same statement date as OP and nothing reported on Equifax yet for me. I don't have access to Experian... (one rumor is that this will report only to Experian, another rumor is that this will be a hidden tradeline, another rumor is that this will report as an installment loan)