Using 12K credit card for a CD (Certificate of Deposit)

[Anonymous]

---

@TheGardner wrote:

There are plenty of sign up bonuses higher than the prospective $144. Honestly I wouldn't concider it worth the effort. People do MS for much higher rewards (I don't do this either just seems like a lot of work). 

---

Yep.  And unlike MS, thie $144 is subject to tax as well.

[Anonymous]

---

@pipeguy wrote:

I suspect that if you pull Max-cash out of both of your Discover cards for day after day after day, you are going to get some push back from Discover.

---

+1

[TheGardner]

I didn't even think about the taxes.. this is just simply a horrible idea lol.

When it's all said and done you won't even cover the gas spent over the 50 days to withdraw the money!

[barbaralee]

You can make more by churning bank accounts in less amount of time. Yikes! Just the thought of what you propose sounds like a hassle. 

[JSS3]

All for $144??????????

[Anonymous]

---

@JSS3 wrote:
All for $144??????????

---

In the OPs defense, people here DO get equailly excited over similarly small amounts of money: e.g the BoA BBR ($25 per quarter!!!), $20 cash back from discover (once!) and waiting potentially for months for the Freedom bonus to go from $100 to $200.  This sounds like more work than most of those, but in all these cases the amount of money is small, you can make more comparison shopping more carefully, looking out for coupons etc.   Part of the lure is thinking of it as free money, so if the OP finds it effortless enough, fine.

[Anonymous]

---

@Anonymous wrote:

In the OPs defense, people here DO get equailly excited over similarly small amounts of money

---

You're right about that! I keep on wondering how folks can get so excited about such things. They discuss the merits of $1,500 per quarter should be put on this card or that card. Others are "spending" this kind of money every weekend and don't get half as excited about it since it's just routine...

[JSS3]

---

@Anonymous wrote:

---

@JSS3 wrote:
All for $144??????????

---

In the OPs defense, people here DO get equailly excited over similarly small amounts of money: e.g the BoA BBR ($25 per quarter!!!), $20 cash back from discover (once!) and waiting potentially for months for the Freedom bonus to go from $100 to $200.  This sounds like more work than most of those, but in all these cases the amount of money is small, you can make more comparison shopping more carefully, looking out for coupons etc.   Part of the lure is thinking of it as free money, so if the OP finds it effortless enough, fine.

---

Yes, small amount of money for 1.)doing what you were going to do anyways with 2.)less to no risk . TRUE definition of "easy money". Bonuses like $50-200 cashbacks are excitable because you had to spend money on your monthly bills anyway(or maybe you pushed up a purchase you still needed in order to get that back). In that, you're getting a rebate. "I just bought $500 dollars worth of______. Which actually ended up costing me $300". A steal! OR "I'm getting $50 dollars back simply for signing up for a free checking account ONCE". You're not going out of your way and raising suspicion(ie 50 days worth of cashovers) and possible AA FOR a small amount. It's the cost to risk factor. $144 is not worth any of what the OP is willing to do. IMO. 

Atleast in churners cases, they get relatively big payouts for driving to stores daily to purchase gift certs. 

It's not the small amount people are geeked about. It's the small amount by way of virtually doing nothing. In the OPs, case, he's doing TOO much! Again, at least churners, have BIG payouts.

Go ask someone to drive/walk to a store daily for a whole month just to receive $144. See if they'll do it. That $144 will be their gas money when it's all said and done. Now propose they do it once for the same amount. The latter will take you up on your offer. The former, will say, "I need more". Why is this the case? Amounts are the same. Again, proving it's not the fact of just getting excited over small amounts of "free" money. It's that you got money, effortlessly. 

Grocery coupons will have you saving more money over time. In that, the coupon clipping(time/obsession) is worth it.

[Anonymous]

---

@JSS3 wrote:

---

@Anonymous wrote:

---

@JSS3 wrote:
All for $144??????????

---

In the OPs defense, people here DO get equailly excited over similarly small amounts of money: e.g the BoA BBR ($25 per quarter!!!), $20 cash back from discover (once!) and waiting potentially for months for the Freedom bonus to go from $100 to $200.  This sounds like more work than most of those, but in all these cases the amount of money is small, you can make more comparison shopping more carefully, looking out for coupons etc.   Part of the lure is thinking of it as free money, so if the OP finds it effortless enough, fine.

---

Yes, small amount of money for 1.)doing what you were going to do anyways with 2.)less to no risk . TRUE definition of "easy money". Bonuses like $50-200 cashbacks are excitable because you had to spend money on your monthly bills anyway(or maybe you pushed up a purchase you still needed in order to get that back). In that, you're getting a rebate. "I just bought $500 dollars worth of______. Which actually ended up costing me $300". A steal! OR "I'm getting $50 dollars back simply for signing up for a free checking account ONCE". You're not going out of your way and raising suspicion(ie 50 days worth of cashovers) and possible AA FOR a small amount. It's the cost to risk factor. $144 is not worth any of what the OP is willing to do. IMO. 

Atleast in churners cases, they get relatively big payouts for driving to stores daily to purchase gift certs. 

It's not the small amount people are geeked about. It's the small amount by way of virtually doing nothing. In the OPs, case, he's doing TOO much! Again, at least churners, have BIG payouts.

Go ask someone to drive/walk to a store daily for a whole month just to receive $144. See if they'll do it. That $144 will be their gas money when it's all said and done. Now propose they do it once for the same amount. The latter will take you up on your offer. The former, will say, "I need more". Why is this the case? Amounts are the same. Again, proving it's not the fact of just getting excited over small amounts of "free" money. It's that you got money, effortlessly. 

Grocery coupons will have you saving more money over time. In that, the coupon clipping(time/obsession) is worth it.

---

But the AMOUNT is still important    If I could earn say 10c by clicking once on a link, I probably wouldn't, because the reward is simply not worth doing anything for.

And really the examples aren't effortless in many cases, I have to apply for a card (or call a CSR in the discover case) and make sure I move spending to the card.  The worthwhile threshold varies from person to person.    If your "spending" earns say $1500 a month, you just don't get excited by $25 per quarter, a $200 one-time rebate etc.

[TheGardner]

I "get " things like MS, could be very profitable and worth the effort as you are doing several cards at once. 50 trips to get store for cash over AND be taxed is just a lot of effort for a low return which is debatable after time and fuel expenditures. As stated above you can make 1-200$ just for submitting an app in most cases which costs nothing, time spent is negligible and could be considered to have made $200 an hour if you get technical.

The damage to your scores from carrying a 71% balance would prevent the more profitable new app rewards.