What is your favorite reward credit card?

[killramos]

This is an appropriate turn for this thread.

That said I don’t churn. Can’t be bothered and don’t travel enough.

[bjstare]

Well this is making me feel like I should probably start churning cards.

Signing up for cards isn’t difficult, it’s switching all my auto bill payments that seems like a pita haha.

[Buster]

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Well this is making me feel like I should probably start churning cards.

Signing up for cards isn’t difficult, it’s switching all my auto bill payments that seems like a pita haha.

never do that. leave your auto pay on regular cards.

[OTown]

I know a few of you are joking, but I am pretty sure card churning can negatively impact your credit score. Basically any time you apply for a card or loan it affects your score. Only time it doesnt is if you 'upgrade' your card (ie same bank/card just to a higher level of perks - elite/platinum etc)

[Team_Mclaren]

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I know a few of you are joking, but I am pretty sure card churning can negatively impact your credit score. Basically any time you apply for a card or loan it affects your score. Only time it doesnt is if you 'upgrade' your card (ie same bank/card just to a higher level of perks - elite/platinum etc)

If you have good credit to begin with, the effect is next to nothing. As long as you dont have too many cards outstanding. So just cancel them.

People care too fucking much about their "score". Once you pass like 650, no one really gives a shit anymore

[flipstah]

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I know a few of you are joking, but I am pretty sure card churning can negatively impact your credit score. Basically any time you apply for a card or loan it affects your score. Only time it doesnt is if you 'upgrade' your card (ie same bank/card just to a higher level of perks - elite/platinum etc)

Credit score only plays into account if you're buying a mortgage or a car. Other than that, it's not relevant and you recover the losses back in time. It is a PITA to get points accumulation + timing.

It's like point redemption for business class seats and only paying the taxes. Lots of spreadsheet math.

I don't churn but kudos to people who do

[ExtraSlow]

I always advocate complicating your personal finances.

[max_boost]

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If you have good credit to begin with, the effect is next to nothing. As long as you dont have too many cards outstanding. So just cancel them.

People care too fucking much about their "score". Once you pass like 650, no one really gives a shit anymore

Yes yes I’ve been saying this since 2003 when I got approved for s2000 lol once you’re over 650 you’re set! Haha

[hurrdurr]

I churn but not to the level as some of you other guys.

I've probably got ~200k free points in the past few years by churning.

Haven't seen a negative impact on my credit, on the contrary it has gone up significantly over the years

[flipstah]

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Yes yes I’ve been saying this since 2003 when I got approved for s2000 lol once you’re over 650 you’re set! Haha

Oh man S2000 is now grail territory.

[The Cosworth]

I've never thought about moving my HELOC onto a 0% card for 12 months..... I don't have CC balances but I do usually carry / float my project car for a year or so on my HELOC. Am I missing something on this? I assume the only risk I can see is not paying it off before the end of the 12 months and getting rocked with 20% interest.

But being variable and the present rise in rates.... my rate is pretty shit.

[Buster]

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If you have good credit to begin with, the effect is next to nothing. As long as you dont have too many cards outstanding. So just cancel them.

People care too fucking much about their "score". Once you pass like 650, no one really gives a shit anymore

This.

Credit score only matters if....you need credit.

Dont be poor.

Also, credit card applications do basically nothing to your score, as you pointed out.

[birdman86]

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I've never thought about moving my HELOC onto a 0% card for 12 months..... I don't have CC balances but I do usually carry / float my project car for a year or so on my HELOC. Am I missing something on this? I assume the only risk I can see is not paying it off before the end of the 12 months and getting rocked with 20% interest.

But being variable and the present rise in rates.... my rate is pretty shit.

They usually have an up-front fee like 2% or 4% of the balance transfer amount. Miss a payment and it becomes cash advance interest, so make sure you set up scheduled payments.

[max_boost]

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I've never thought about moving my HELOC onto a 0% card for 12 months..... I don't have CC balances but I do usually carry / float my project car for a year or so on my HELOC. Am I missing something on this? I assume the only risk I can see is not paying it off before the end of the 12 months and getting rocked with 20% interest.

But being variable and the present rise in rates.... my rate is pretty shit.

No brainer cos. The offer might have a one time 1-2-3% balance transfer fee on the amount so say $10k it be $100/200/300 for example but if no balance transfer fee, then it’s literally free money bro lol just make the minimum payment and don’t miss any or they reset back to 20%

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This.

Credit score only matters if....you need credit.

Dont be poor.

Also, credit card applications do basically nothing to your score, as you pointed out.

What’s poor these days? Like regular civilian poor and beyond poor lol

[The Cosworth]

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No brainer cos. The offer might have a one time 1-2-3% balance transfer fee on the amount so say $10k it be $100/200/300 for example but if no balance transfer fee, then it’s literally free money bro lol just make the minimum payment and don’t miss any or they reset back to 20%

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What’s poor these days? Like regular civilian poor and beyond poor lol

Plan was to pay it off before the end of the 0% would expire anyway so no problem there. Usually just keep it until bonus season or if I sell the car over winter. Do that too much.

So now anyone know how to pay a LOC off with a credit card?

[flipstah]

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Plan was to pay it off before the end of the 0% would expire anyway so no problem there. Usually just keep it until bonus season or if I sell the car over winter. Do that too much.

So now anyone know how to pay a LOC off with a credit card?

I don't think you can. Unless your credit card came with cheques?

[brucebanner]

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So now anyone know how to pay a LOC off with a credit card?

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I don't think you can. Unless your credit card came with cheques?

On my banking app through scotia, I was able select my CC account and then my LOC to transfer money to / from. So in theory I could've just done it but I didn't actually try to do it.

[Zhariak]

Just scored 2 "free"ish tickets to Kevin Hart in Calgary!

"Centurion Invitation Only" (E-Mail)

Centurion members are invited to experience a concert with premium seats courtesy of American Express and a $200 (CAD) American Express® Prepaid Card that can be used for dinner, drinks, merchandise, and more to complete the night out.1,2,3

Available Concert Options:
Michael Bublé – Toronto – Scotiabank Arena - Wednesday, October 12, 2022, 8:00pm
Chris Rock - Vancouver – UBC Doug Mitchell Thunderbird Sports Centre - Friday, October 21, 2022, 8:00pm
Kevin Hart - Toronto – Scotiabank Arena - Sunday, October 30, 2022, 7:00pm
Bryan Adams - Calgary – Scotiabank Saddledome - Wednesday, November 9, 2022, 8:00pm
Bryan Adams - Vancouver – Rogers Arena - Saturday, November 12, 2022, 8:00pm
Kevin Hart – Calgary – Scotiabank Saddledome- Thursday, December 8, 2022, 8:00pm

PACKAGE FOR TWO (2) PEOPLE INCLUDES:1
• Two (2) premium tickets in a 100 level section for selected concert
• One (1) $200 (CAD) American Express® Prepaid Card2

PACKAGE PRICE FOR TWO PEOPLE (2): $200.00 (CAD) inclusive of gratuity and taxes.4

[birdman86]

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Plan was to pay it off before the end of the 0% would expire anyway so no problem there. Usually just keep it until bonus season or if I sell the car over winter. Do that too much.

So now anyone know how to pay a LOC off with a credit card?

I know with RBC you can just balance transfer into your checking account then do whatever you want with it. In the offers menu.

[sabad66]

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Plan was to pay it off before the end of the 0% would expire anyway so no problem there. Usually just keep it until bonus season or if I sell the car over winter. Do that too much.

So now anyone know how to pay a LOC off with a credit card?

The way I did it with BMO (which only allows BT to another credit card) was to BT into my daily driver credit card which I usually run 5k/month through. So say you BT 15k, now your daily driver CC is now -15k balance. So the money from my chequong that I would have normally used to pay off the full balance of my CC now goes toward paying off my LOC. depending on your situation this could take a few months, but it’s a decent workaround