- Giftcards.com changing Mastercard gift card issuer to Metabank! by Miles Per Day. Big news for some.
- PSA: Bank of America Shorting Customers 25K Points on Some Merrill+ Visa Bonuses by Miles to Memories. Seems to be affecting people that applied March 1st until the 20th.
- How Latest SYWR Bonanza Helped Me to Pay It Forward by Miles For Family. Ignore all that tear inducing stuff, that promo is really good and I’m surprised more readers aren’t taking advantage. Obviously joking about the first statement, it’s always nice when you can help others in need.
- Fidelity 2% CB Card Shut Down!!! by bjd on DDF. They were able to get their account reopened but might be wise to be cautious on this card if possible.
Oh, just get friendly with the rep is all. It’s a lot of luck finding the right time/rep. I have one who does not care and lets me do any $ I want really
I have never understood why people would MS a 2% cash back card. The volume and effort you would need to achieve a decent profit is just too much in my opinion.
All on scale.
If you have a Walmart on the way to work, etc. that lets you do $10k in MOs, it’s worth it. Without this consistency, it’s not worth the time and effort
$10K in MO would be at least 20 Visa gc. How could someone get away with that?
Just buy $9500 at a Simon, and go to Walmart. Easy, just don’t cycle your CC is all
I think you misunderstood. How could someone get away with using 20 “debit” cards at Wally without them getting suspicious?
The limit is supposed to be 4 debit cards per transaction and I don’t think they are supposed to allow more than 1 transaction.
Some stores allow you to do up to 10k per day not just one MO per day
@ Fidelity 2% Shut Down – Abuse of the rewards system SHOULD get someone shut down. I had never even thought of “cycling” my card to the limit multiple times in a given month. Last time I read a credit card agreement, it did say something about paying off a credit card before it a bill due is grounds for account closure, and I thought to myself, why would this be a problem? Now I know why! It’s people like this that caused my old Citi 5% dividend card to get nerfed. I used to be happy with a couple hundred reward bucks in a year, but people like these have to try to get that much in a week. I am sure Sirtheta could give us a 3 page breakdown, but if you spend $40,000 on a 2% card, that’s $800 cash back.
What banks have a credit card agreement that says paying the card off before the bill is due is grounds for account closure ?
I am unable to find it, but I thought it was in my most recent Chase CC agreement; I believe it had to do with overpayment/prepayment, and that creating a positive balance can be grounds for closure. Chase clearly states they can close accounts based “on our business needs”. Here is an article that talks about overpayment and why banks get concerned: http://www.creditcards.com/credit-card-news/credit-balance-overpay-refund-1282.php
Anyway, gaming credit card rewards punishes those who play by the rules, causes caps to implemented, terms to be changed, or discontinuation of the product. I am not saying you shouldn’t use your card benefits, but the greedy banks usually have some common sense too… that Joe Schmoe shouldn’t be earning $800 a month of their card rewards, even if he is a “loyal” customer and pays early. I am sure they have programs that detect higher than normal transaction loads. Even if they have thousands of customers, they aren’t blind. If you’re falling into the top tier of rewards redemptions, don’t cry when you get shutdown.