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Questions tagged [reward-program]

For questions related to credit card, bank, or merchant reward programs.

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Does paying for some travel-related service (e.g., Airbnb) via installment payments (e.g., Klarna) count as travel with Rewards World Mastercard Card?

Assume a Bank of America's Rewards World Mastercard Card is configured so that it has a 3% cash back in the travel category. Does paying for some travel-related service such as Airbnb via installment ...
Franck Dernoncourt's user avatar
0 votes
1 answer
168 views

Visa Reward card "use or lose" fee -- where is that forbidden?

Just got a non-reloadable $5 Visa RewardCard. While it is imprinted "funds do not expire" on the front, the back says: "Except where prohibited by law, a Monthly Fee of $2.50 per month ...
keshlam's user avatar
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0 votes
1 answer
1k views

Will a negative reward points balance of a credit card incur interest?

If I have a credit card with a negative reward points balance (say due to a returned product), and if I let the reward balance remain negative, will this eventually incur interest charges? A negative ...
Zuriel's user avatar
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7 votes
6 answers
17k views

Is it safe for me to give my checking account's routing and account numbers to a credit card company?

I have a credit card from one of the top five largest banks in the United States. The credit card offers cash-back rewards. The credit card company offers that the cash back can be issued directly to ...
Andrew's user avatar
  • 179
10 votes
3 answers
6k views

Earn CC flight miles by paying rent?

I want to accrue flight miles/points from everyday purchases. I'm looking at the "Capital One Venture Rewards Credit Card". It states "Earn unlimited 2X miles on every purchase, every ...
Dividable6919's user avatar
-3 votes
1 answer
123 views

Why wouldn't credit card reward auto-redemption offer statement credit? [closed]

I see that with Bank of America, credit card reward redemption can be a statement credit: unless it's auto-redemption: Why wouldn't credit card reward auto-redemption offer statement credit?
Franck Dernoncourt's user avatar
1 vote
1 answer
87 views

Do the HDFC credit card reward points calculated on billed amount or the amount spent using the card

I read that paying credit card bills before bill generation can help regulate credit utilization ratio and thereby improving credit score. But are the reward points computed on the total unpaid amount ...
Nagabhushan S N's user avatar
-1 votes
1 answer
143 views

Rewards to $40. Is it best to get PayPal, prepaid Visa or Amazon card?

I can get $40 from Receipt Hog. They can give it as a prepaid Visa card, to my PayPal or Amazon gift card. Which is the best option of the 3? I was thinking PayPal and transferring it to my local bank ...
slinglift's user avatar
4 votes
2 answers
791 views

If a credit card offers rewards for "online purchases", is anything paid for online automatically included?

Some credit cards (e.g. Bank of America) offer cardholders the option to earn cash back at a higher rate on online shopping purchases. (More specifically: you get to choose one 3% cash back category ...
mweiss's user avatar
  • 245
3 votes
4 answers
15k views

Sending money to friends via Amex with PayPal UK

With the Platinum Cashback Everyday Credit Card, there is a 5% cashback reward for the first 3 months, up to £100. As such, I'm trying to maximise my spending during this period to make the most of ...
Rocco's user avatar
  • 175
1 vote
3 answers
227 views

What are the risks of getting an additional credit card just so my parents get more points?

My father is retired and one of his hobby is to gather as much credit card programs as he can and manage them in a way as to maximize returns and minimize costs. I know that this can be a risky ...
Alex Millette's user avatar
30 votes
4 answers
11k views

Did I discover an easy way to make money via PayPal and cashback credit card? If so, is it legal and is the money taxable?

Here it is: I send money to a family member via PayPal using my credit card, PayPal charges a fee but the cash back I get from the PayPal transaction exceeds the PayPal fee, my family member sends me ...
user avatar
3 votes
1 answer
2k views

Does credit card cash back count taxes?

If I have a 1% cash back card and spend $100 plus $6 sales tax, do I get $1 cash back or $1.06 cash back?
user avatar
1 vote
1 answer
947 views

Crypto-cashback debit card tax (UK)

I have a pre-paid VISA card with a 2% cashback paid in cryptocurrency in every purchase. I was wondering how this is taxed?
Antonio Andrés's user avatar
2 votes
1 answer
178 views

Change credit card, keep age of credit line?

I have two credit cards that charge fees and have significantly downgraded their value to me. In both cases I would like to switch to no-fee versions of the same card, but I don't want to reduce my ...
sujeet's user avatar
  • 121
-1 votes
1 answer
2k views

How soon can I close Amazon rewards credit card after opening?

I got the card today for the $70 sign up 'Gift Card', only have 2 other credit cards with $5,000+ limits with $0 balance on both and want to know when I can close the Amazon account. I only spent ....
very Curious's user avatar
3 votes
6 answers
487 views

Why use credit card rewards for vendor credit not cash?

Some credit cards (e.g. Capital One, Chase) have rewards programs for using their cards, which can either be used for cash (credit to the credit card itself) or for 3rd party vendor credit (a gift ...
Dronz's user avatar
  • 335
1 vote
4 answers
471 views

How do consumer reward point systems work?

For example, Starbucks developed its own point system where customers can collect them and get a free drink. Pretty sure there is a way to make money from it. Or is it just a marketing strategy to ...
Anton S.'s user avatar
  • 121
1 vote
1 answer
67 views

Rewarding my affiliates [closed]

I could not find a really fitting site and thoight this is the closest. Otherwise please let me know. I own a website where I get income from affiliate links. I would like to give back some ...
Janis S.'s user avatar
  • 113
32 votes
4 answers
7k views

How does the math work when buying airline miles?

Signing up for credit cards to get airline bonuses and flying more are good options to earn miles. With an average redemption/valuation of 1 cent/mile or maybe 1.2 cents/mile why would it make sense ...
perennial_noob's user avatar
4 votes
1 answer
204 views

Is credit card signup bonus taxable?

If a credit card company offers you $500 for making $1500 in purchases within the first 3 months, is that taxable income?
Tom's user avatar
  • 55
6 votes
2 answers
1k views

How to enter credit card "statement credits" (e.g. cash back) in double entry accounting? [duplicate]

A credit card statement credit is a reduction in liability, so I would think it's "income" of a sort. But, I could also see it as a reduction in expense; for example, buying a plane ticket using a ...
Wildcard's user avatar
  • 477
6 votes
2 answers
305 views

how far can one push the signup bonus game?

I have never signed up for cards with signup bonuses with the expectation of canceling, but I am getting curious about it. The signup bonuses range from $250-500, more if you redeem for travel ...
Stephen's user avatar
  • 871
-1 votes
2 answers
5k views

Pay Yourself With Credit Card Make Money With Cash Back [duplicate]

Let us say I have a Credit Card that gives 2% cash back on any purchase with Unlimited cash back. Now let's say I also own a business where I'm charged a small transaction fee say 1% of the total ...
MrRoboto's user avatar
  • 153
13 votes
2 answers
3k views

Why does Discover Card warn me about selecting certain payment due dates?

The date I would like to use for my payment due date in the future on my Discover Card account warns me with a tooltip: Selecting this date will reduce the number of days in the current anniversary ...
dgw's user avatar
  • 391
2 votes
1 answer
174 views

Is there a hidden condition in these T&C?

I went through a FAQ on a website regarding an offer where it mentioned customers using a particular credit card can get a 10% discount. The minimum limit to get the discount is Rs. 6000. 1. What ...
Netizen's user avatar
  • 33
5 votes
3 answers
5k views

(Theoretical) Paying credit cards with other credit cards

I want to preface this question by saying that this is theoretical, and I fully understand that it is a slippery slope that could get out of hand if not handled properly, and that the gains do not ...
David G's user avatar
  • 169
8 votes
5 answers
28k views

Can you buy gift cards at grocery store to receive a higher reward rate?

Numerous websites such as this Time article or this Nerdwallet page say you can buy gift cards at grocery store to get the higher category rate when applicable. You can purchase gift cards at ...
Ender's user avatar
  • 898
55 votes
8 answers
10k views

Gigantic point amount on rewards card - what are potential consequences?

Recently, I asked with an online form for some receipts to get added to my rewards card (because I forgot the card when paying). However, they accidentally added more than a thousand times the amount ...
Aganju's user avatar
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1 vote
2 answers
253 views

Can I maximize my credit card rewards and keep a low utilization?

I have seen that low utilization is key to keeping or improving my credit score. My question is more in line with credit limit, cash back rewards, and ulitilization. If I make a purchase and then ...
MickB's user avatar
  • 471
0 votes
1 answer
507 views

How can credit card companies offer a cash back program? [duplicate]

Many credit cards offer cash rewards or similar programs which effectively amount to a small % discount (at the CC company's expense) for various purchases. For instance, American Express has a card ...
Superbest's user avatar
  • 2,688
3 votes
1 answer
227 views

Using cash back rewards from business credit card

Are there any tax constraint I should be aware of when using cash back rewards from a business credit card (a C-Corporation with just 1 person, me)? Would taxes go through directly to me for using the ...
ina's user avatar
  • 360
0 votes
1 answer
974 views

Do I have to make a minimum payment to my credit card even if the balance is $0 after redeeming rewards?

Let's say this month I spent $50 with the card. The statement comes at the end of the month with a $50 balance and a $30 minimum payment required. Let's say I redeem my rewards on the card, which ...
user avatar
32 votes
3 answers
16k views

Why does Chase Freedom require me to "activate" my card for rewards every quarter?

Note: The "activation" I am talking about here is not the same as the "activation" in this question. I just got a Chase Freedom credit card, mostly for the 5% cash back rewards. I had seen that ...
Steve V.'s user avatar
  • 675
12 votes
2 answers
1k views

Why are earning credit card rewards often tied to groceries and gas?

Is there a business model that makes those more attractive categories for the issuers?
rjdevereux's user avatar
1 vote
1 answer
247 views

How Credit Card company makes money (when considering rewards and pay full balance every month)

I am aware of two income sources: interest and merchant transaction fees. But it doesn't quite add up. For example, Citi Double Cash pays total 2% cashback. And considering balance is paid off every ...
pavel_karoukin's user avatar
1 vote
2 answers
405 views

There are 2% cash back (on all purchases) business credit cards, are there ones for individuals? [closed]

I've been searching for a simple, 2% cash back (no exceptions or categories, etc etc) credit card for individuals. My capital one business CC is quite simple - 2% cash back on all purchases. I have 2 ...
Tom's user avatar
  • 11
3 votes
4 answers
502 views

How much do I need to travel for mileage rewards to beat cash back?

I'm happy with my cash-back rewards cards. I pay my balance in full and don't care about the interest rate. Now I'm trying to evaluate a promotional offer for an airline miles card to see if it's ...
wrschneider's user avatar
13 votes
4 answers
112k views

How can I determine which stores are regarded as supermarkets for a rewards credit card?

I'm considering applying for a credit card which offers additional rewards on supermarket purchases. How do I determine which stores in my area are considered supermarkets by the card issuer? For ...
Franck Dernoncourt's user avatar
9 votes
7 answers
26k views

Should I use cash back rewards for rewards, or to pay off the balance?

I have a credit card with cash back rewards. I can use these rewards to go shopping on Amazon, for example, to buy gift cards, to pay off the balance, and possibly some other options that I may have ...
Bigbio2002's user avatar
  • 1,299
0 votes
1 answer
71 views

Relationship between points and air miles

Let us say I have Air Canada Aeroplan card, and if I shop at certain retailers, I accumulate points. Now let us say a particular flight on air Canada cost 100,000 miles. How to know how many points ...
Victor123's user avatar
  • 16k
4 votes
2 answers
1k views

Is there a downside to applying for several credit cards for rewards?

Qantas offers several bonuses (mostly frequent flyer points) for applying for some credit card programs and spending X amount within Y months with that card. Most of these cards have annual fees. I ...
Zaenille's user avatar
  • 4,334
1 vote
3 answers
597 views

Credit Card with rewards points

My bank is currently offering me a credit card with reward points. Here are the details on it Earn 20,000 bonus rewards points when you spend $2,000 in net purchases (purchases minus returns/credits) ...
Dan K's user avatar
  • 173
1 vote
1 answer
307 views

Timing between loans and applying for a new credit card

Here's the skinny. I can get answers out of a variety of the question threads here, but putting it all together is a bit of a different matter. Bought a house 18 months ago. Put 20% down, got a 3.5% ...
Manigaani's user avatar
12 votes
4 answers
1k views

Are there cons to paying monthly bills with a rewards card and then paying it off monthly?

I have a rewards card I really like and we have about $5k in bills monthly. Almost all of them I could setup to pay out of this card. That would earn about $600+ in rewards annually, which would ...
TheCleaner's user avatar
7 votes
2 answers
562 views

What's the benefit of a credit card with an annual fee, vs. a no-fee card?

My credit cards don't have an annual fee. I get mailers from American Express all the time and I see that card has an annual fee. I know a few friends and see a lot of people subscribed to such cards ...
happybuddha's user avatar
6 votes
3 answers
5k views

Should I cancel an existing credit card so I can open another that has rewards?

I have four credit cards. One has a cash back rewards, one a discount, and the other two do nothing for me. However, one of those two is my oldest card, so I cannot close that account. I would like ...
Sam's user avatar
  • 61
4 votes
1 answer
4k views

Overpaying credit card to simulate a credit line increase? [duplicate]

I keep my credit card lines small for various reasons (reduce possibilty of impulse purchases, minimize my credit footprint etc) but there are times when certain necessary purchases exceed the amount ...
f1StudentInUS's user avatar
3 votes
2 answers
197 views

Site to find out which card to use for specific purchases

I've got a couple of large purchases coming up (thousands of dollars). I plan to use credit card for that - I have the money for it, but various credit cards have 1% to 5% cashback bonuses, and with ...
StasM's user avatar
  • 3,306
3 votes
1 answer
150 views

Rewards credit card for large repeating purchases in Australia

I have no revolving credit card debt: I pay it off every month. I also have a significant throughput of charging/paying off, including a large repeating medical cost that will be at least $3000 every ...
JBWhitmore's user avatar