Just a couple questions I hope y'all can help out with. Since there's no weekly questions thread I'll ask here.
-
If lets say a restaurant charges a 4% additional fee to use a card do you use cash to save the 4%? Say I get 5% vs 4% vs 3% back at restaurants, at what point do you take money saved over potential money earned?
-
Is there a general rule about not applying to too many cards in one day? I know the 5/24 rule exists, but is that only for one specific company or can I apply to multiple different companies at one time. I know applying for cards dings your credit, but if I don't plan to use credit anytime soon is it ok to just ding it a bunch and recover over time?
-
Anyone have experience with the aven card? 3% cash back on anything seems almost too good to be true? I see a lot of 2% but rarely if ever 3%. I will come nowhere close to hitting the $10,000 limit on the 3% so it kind of seems like a no brainer catch all card. Is there a catch?
Thanks for any answers!
Miscellaneous Questions about cards.
byu/ahill865 inCreditCards
Posted by ahill865
1 Comment
1. Paying cash usually makes sense unless you’re getting a sign-up bonus where transaction fees are overshadowed by the return-on-spend.
2. I got a ton of credit cards in a year, but eventually you get throttled because the companies know when you’re applying to other companies. Not sure about many applications in a single day…seems risky.
3. No, but keep in mind the % from sign-up bonuses is much higher than the “multipliers” (eg 3%). For example the Prime card gets 5% on Amazon purchases but you might be better off using a different card to work towards a sign-up bonus.