I'm waiting for a 4% anywhere card with no/low AF

[Anonymous]

I find reward redemption thresholds to be irritating.  It would be one thing if everyone had them, but since there are plenty of lenders out there that don't have any restrictions it just makes the others seem annoying.

[Slabenstein]

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@Anonymous wrote:

I find reward redemption thresholds to be irritating.  It would be one thing if everyone had them, but since there are plenty of lenders out there that don't have any restrictions it just makes the others seem annoying.

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Agreed.  Any redemption threshold my spend wouldn't let me meet monthly would bug me, so it's something I look at in card research.

[Anonymous]

It's certainly possible with a cap. Just look at the PCMCU card... up to $1K spend per month @ 5%, minimum $10K limit, but requires other products to avoid the $49 AF. 

https://pcmcu.org/loans/credit-card/

I certainly don't ever see it happening without a cap or relationship system though. 

I hope that AOD and US Alliance decide at worst to cap their cards but with such a low APR on the AOD, I can almost guarantee you they have people carrying balances. 

[Curious_George2]

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@Slabenstein wrote:

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@Anonymous wrote:

I find reward redemption thresholds to be irritating.  It would be one thing if everyone had them, but since there are plenty of lenders out there that don't have any restrictions it just makes the others seem annoying.

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Agreed.  Any redemption threshold my spend wouldn't let me meet monthly would bug me, so it's something I look at in card research.

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+1

My preferred way to manage rewards on cards that have a redemption threshold is to always maintain a rewards balance of at least the threshold amount. So, for example, I don't redeem on my DC until the balance hits $50, and then I only take it down to $25. That way, whenever I move my spend away from that card, or close/PC it, I'm assured of being able to redeem all the rewards I have earned without leaving anything behind. Is this what other people do too?

Yes, I'm essentially giving the issuer an interest-free loan, but the interest I forego on $25 is negligible.

And, of course, this technique is useless on cards that only allow redemptions of specific dollar amounts (e.g. multiples of $25). That's messed up.

[Anonymous]

I'm always quick to the trigger on redeeming rewards as quick as they're available.  If there's a cycle where I've accrued 97 cents in rewards, I take my 97 cents.  That's just how I roll. 

[NoHardLimits]

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@Curious_George2 wrote:

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@Slabenstein wrote:

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@Anonymous wrote:

I find reward redemption thresholds to be irritating.  It would be one thing if everyone had them, but since there are plenty of lenders out there that don't have any restrictions it just makes the others seem annoying.

---

Agreed.  Any redemption threshold my spend wouldn't let me meet monthly would bug me, so it's something I look at in card research.

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+1

My preferred way to manage rewards on cards that have a redemption threshold is to always maintain a rewards balance of at least the threshold amount. So, for example, I don't redeem on my DC until the balance hits $50, and then I only take it down to $25. That way, whenever I move my spend away from that card, or close/PC it, I'm assured of being able to redeem all the rewards I have earned without leaving anything behind. Is this what other people do too?

Yes, I'm essentially giving the issuer an interest-free loan, but the interest I forego on $25 is negligible.

And, of course, this technique is useless on cards that only allow redemptions of specific dollar amounts (e.g. multiples of $25). That's messed up.

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I use the same technique when I have redemption thresholds (Citi Dividend @ $50 and Double Cash @ $25).

[JNA1]

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@Anonymous wrote:

I find reward redemption thresholds to be irritating.  It would be one thing if everyone had them, but since there are plenty of lenders out there that don't have any restrictions it just makes the others seem annoying.

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I don't mind the thresholds so much on cards I use regularly, but in the case of my BB&T card which I rarely, it sucks.  It usually takes me about 2 1/2 - 3 months to build up the $25 threshold on my PNC card, but it doesn't really bother me because with our gas spend it's always going to keep coming. 

[Anonymous]

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@Curious_George2 wrote:

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@Slabenstein wrote:

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@Anonymous wrote:

I find reward redemption thresholds to be irritating.  It would be one thing if everyone had them, but since there are plenty of lenders out there that don't have any restrictions it just makes the others seem annoying.

---

Agreed.  Any redemption threshold my spend wouldn't let me meet monthly would bug me, so it's something I look at in card research.

---

+1

My preferred way to manage rewards on cards that have a redemption threshold is to always maintain a rewards balance of at least the threshold amount. So, for example, I don't redeem on my DC until the balance hits $50, and then I only take it down to $25. That way, whenever I move my spend away from that card, or close/PC it, I'm assured of being able to redeem all the rewards I have earned without leaving anything behind. Is this what other people do too?

Yes, I'm essentially giving the issuer an interest-free loan, but the interest I forego on $25 is negligible.

And, of course, this technique is useless on cards that only allow redemptions of specific dollar amounts (e.g. multiples of $25). That's messed up.

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I don't see a big advantage in doing this.  Basically always giving up the threshold against the possibility of at some stage having a below threshold balance.  I redeem the max, and, if necessary,  make a one time purchase to reach the threshold if it makes sense 

[Anonymous]

If you're going to be a bear, be a grizzly.

[FinStar]

So, no room for teddy bears? Polar bears can be just as aggressive and territorial.  What about black bears?  Pandas?  Koalas?