I love credit cards so much! v4.0 - 2021 (see first page for add'l details)

[ten6mom]

You could pay the bills with a CC then payoff the CC with the HELOC

oh ok. I did not know that (which is why I come here to ask the experts!)

Thank you! Will check it out.

 

[platamama]

No current MSR and currently 1/24 (a CSP opened in July 2020)

We are expecting a quote to landscape our back yard and I am guessing it will be in the $20K range. There is not a chance in the world I can pay for it outright, so somewhere interest will have to be paid.

Would it be insane to 1- take out a personal loan at a low-ish interest rate (relative to a credit card interest rate) and then 2- open a new card with a good SUB (and a high enough CL, which could be a challenge unless it's a personal...), put the entire cost on the new card, and then immediately pay off the card with the personal loan?

If this is NOT insane, what card would you recommend? I have a better relationship with Chase (2 personal and multiple biz cards) than Amex (only a BBP with a credit balance so Amex probably doesn't like me much right now but I've never applied for a personal with them).

Thoughts?

How long would you take to pay it off? Could you do it in 15 months? Both the CFU and CFF have an introductory 0% APR on new purchases for 15 mo from account opening. Both have a 20K UR SUB on $500 MSR. Their earning structures are the same in regards to dining (3x), drugstores (3x), booking through Chase travel (5x). The CFU (Visa) gets 1.5x everywhere and the CFF (MasterCard) gets 5x in rotating quarterly bonus categories (right now we're in gas & home improvement stores, capped at $1500 spend per quarter).

 

[ten6mom]

How long would you take to pay it off? Could you do it in 15 months? Both the CFU and CFF have an introductory 0% APR on new purchases for 15 mo from account opening. Both have a 20K UR SUB on $500 MSR. Their earning structure are the same in regards to dining (3x), drugstores (3x), booking through Chase travel (5x). The CFU (Visa) gets 1.5x everywhere and the CFF (MasterCard) gets 5x in rotating quarterly bonus categories (right now we're in gas & home improvement stores, capped at $1500 spend per quarter).

Gosh I suppose it would depend on the final dollar amount. That's good to know about the introductory APR; thank you!

If I already have an (old) Freedom, is there any issue with applying for another card in the Freedom family?

And I could move CL over from the existing CSP if I didn't get a high enough CL on a new Freedom.

 

[georgina]

Nothing on my account yet, but I'm late in the alphabet.

Mine still says 8/1/21 and my last name starts with C. It wasn't even showing yesterday when I called, the agent had to call someone else to release it (I had booked and cancelled with it in 2020). Patience is not my strong point.

 

[georgina]

Gosh I suppose it would depend on the final dollar amount. That's good to know about the introductory APR; thank you!

If I already have an (old) Freedom, is there any issue with applying for another card in the Freedom family?

And I could move CL over from the existing CSP if I didn't get a high enough CL on a new Freedom.

I had 2 regular Freedoms when I applied for the Unlimited last fall. Not a problem.

 

[wanderlust7]

Oh ok thank you; husband mentioned that as possibility.

Would it be possible to use that in conjunction with a new card/MSR/SUB? I don't really know how a HELOC works. It's (presumably) not quite the same as having cash in your pocket, is it?

It's almost like cash (that you need to pay interest on). The credit line sits in an account that you can transfer from or write checks from. You only pay interest on the amount you owe. Interest may be tax deductible when used for home improvement (consult your tax professional disclaimer lol).

 

[ten6mom]

It's almost like cash (that you need to pay interest on). The credit line sits in an account that you can transfer from or write checks from. You only pay interest on the amount you owe. Interest may be tax deductible when used for home improvement (consult your tax professional disclaimer lol).

Oh really! Well it would definitely be for home improvement!

Thank you all for the suggestions... once we get the actual quote we will explore some options you've given me.

Side note: The landscaper said he is having a hard time getting all sorts of supplies including pavers and the alumawood (?) for building a pergola. I hear there is a lumber shortage too which is delaying new home builds. All, I presume, as a result of you-know-what disrupting everything, I guess?

 

[platamama]

Oh ok thank you; husband mentioned that as possibility.

Would it be possible to use that in conjunction with a new card/MSR/SUB? I don't really know how a HELOC works. It's (presumably) not quite the same as having cash in your pocket, is it?

A HELOC works "on demand," meaning that you don't pay any interest on the money until you actually access the money. You'll want to shop for rates as they can vary, I think these days around 4%-6% depending on your creditworthiness. One thing you might want to check on is that sometimes there's a clause that if you close the HELOC within a certain timeframe (5yrs? probably depends on the lender) then you pay a penalty. That's what happened to me years ago when we opened a HELOC, and then we ended up moving since DH lost his job and found a new one in a new state; we ended up paying a $500 penalty for closing the HELOC when we sold the house.

 

[elgerber]

Oh really! Well it would definitely be for home improvement!

Thank you all for the suggestions... once we get the actual quote we will explore some options you've given me.

Side note: The landscaper said he is having a hard time getting all sorts of supplies including pavers and the alumawood (?) for building a pergola. I hear there is a lumber shortage too which is delaying new home builds. All, I presume, as a result of you-know-what disrupting everything, I guess?

actually a lot of it is supply and demand. Home improvements and new home builds have exploded, which is causing all kinds of price increases and shorter supplies.

 

[ten6mom]

A HELOC works "on demand," meaning that you don't pay any interest on the money until you actually access the money. You'll want to shop for rates as they can vary, I think these days around 4%-6% depending on your creditworthiness. One thing you might want to check on is that sometimes there's a clause that if you close the HELOC within a certain timeframe (5yrs? probably depends on the lender) then you pay a penalty. That's what happened to me years ago when we opened a HELOC, and then we ended up moving since DH lost his job and found a new one in a new state; we ended up paying a $500 penalty for closing the HELOC when we sold the house.

Wow such good information. That's too bad about an "early closure" penalty... I definitely have lots of research to do! Thank you!

 

[platamama]

There was some talk here about where to park money for a little interest, and I thought I'd share that I'm getting 1% plus 1% on purchases with the associated debit card, with no hard pull. I've posted more info over in Dischurners under Misc.

 

[georgina]

We haven't had a I hate bofa business card online stuff lately. So confused but maybe it'll sort itzelf out. I had a bal of 40 and some change and then the 1k for my car deposit that put me over the msr. I knew I'd get the 200 statement credit so I paid 840 and some change expecting it to 0 out. Then I put 11 and change for a reward flight taxes on the card. So I should only owe the 11 something but I have a credit of 29 something and just got an email for my statement that cut yesterday. Nothing makes sense. I wish you could just pay on the employee card instead of the biz acct. Guess I should have just waited for the statement but I wanted to get it paid last week. Oiy

It is SO confusing the way they do it. Ours just closed yesterday with the MSR covering moving expenses on it. We were very fortunate that the charge for the move hit the day after the last statement closed, so I was able to apply the $750 reward and $52 spend credit on this balance. Sock drawer time.

Also, DH got an offer on his personal cash rewards for an additional 3% on home furnishing stores, after the initial 3% if he switched to that category. We signed up for the offer and then I placed an order from Bellacor, which shows as home furnishings, still waiting for the extra rewards.

 

[CyndiLouWho]

My Bonvoy FNCs are still showing an 8/1/20 expiration. Does anyone have the new date? I "think" one of mine should have qualified for the newest extension.

I have a 50k night that extended to 1/3/22 and I'm pretty sure it was already extended from 2019>2020>2021
I just had the brilliant idea I could add on to our August WDW trip with it. Off to see if anything is available.
ETA Of course the night I need Swolphin is 60 k per night.

 

[palhockeymomof2]

Ugh.... DH's Travel credit resets 6/2... I was going to buy DGC on that day at the grocery store than downgrade once the $300 credit post. But if this is accurate it means we would be missing out on 30K URs + $50 grocery store credit, about $500. The earliest DH could apply is 6/7.

https://www.reddit.com/r/churning/comments/n6u5oe/_/gxa5qfj

I don’t have a CSP, so no idea what the support links are, but if they are for this offer they usually stay live for a little bit after the public offer ends

 

[Judique]

I have a 50k night that extended to 1/3/22 and I'm pretty sure it was already extended from 2019>2020>2021
I just had the brilliant idea I could add on to our August WDW trip with it. Off to see if anything is available.
ETA Of course the night I need Swolphin is 60 k per night.

That fits what they were extending. I have two in that timeframe that had 2 extensions already. First extended to Jan 21 and Then Aug 21 and now should go to Jan 22.

 

[afan]

It is SO confusing the way they do it. Ours just closed yesterday with the MSR covering moving expenses on it. We were very fortunate that the charge for the move hit the day after the last statement closed, so I was able to apply the $750 reward and $52 spend credit on this balance. Sock drawer time.

Also, DH got an offer on his personal cash rewards for an additional 3% on home furnishing stores, after the initial 3% if he switched to that category. We signed up for the offer and then I placed an order from Bellacor, which shows as home furnishings, still waiting for the extra rewards.

Oddly I got a 2% cash back on purchases up to $150 back on my alaska personal card. I went ahead and activated but prob won't use it. Now if it was extra miles that'd be different.

 

[Jax1023]

I have a 50k night that extended to 1/3/22 and I'm pretty sure it was already extended from 2019>2020>2021
I just had the brilliant idea I could add on to our August WDW trip with it. Off to see if anything is available.
ETA Of course the night I need Swolphin is 60 k per night.

Stay another night so we can say hi at wdw!

 

[CyndiLouWho]

Stay another night so we can say hi at wdw!

I actually booked 8/13, flights home are 8/14. I am not superstitious but still decided I'm not flying 8/13. Right now I have 8/13 booked at both Swan and Hyatt MCO, deciding which to keep.
which day are you arriving?

 

[mmmears]

Side note: The landscaper said he is having a hard time getting all sorts of supplies including pavers and the alumawood (?) for building a pergola. I hear there is a lumber shortage too which is delaying new home builds. All, I presume, as a result of you-know-what disrupting everything, I guess?

It's the same here. Lots of people fixing up homes, adding on or building new, and prices are way up for material like lumber, plus it's impossible to get any work done any time soon. We waited months to replace our french doors, and now we and all the neighbors are waiting months to replace all the fences (the waitlists are long and the prices are way up).

 

[CyndiLouWho]

That fits what they were extending. I have two in that timeframe that had 2 extensions already. First extended to Jan 21 and Then Aug 21 and now should go to Jan 22.

The website says "Free Night Awards with an original expiration date prior to 2020 will not be eligible for the additional extension." So mine should not have been extended agin but I'm not complaining.