Originally Posted by
hanover.john
The major benefit from funding a new bank account with a credit card is that you can get miles/points on the credit card (usually one mile per dollar). In this case you can only fund max $3000 from your PayPal debit card so you only get 3000 miles. Dellman's credit card limit is $90K- so going to any trouble for 3000 miles only is a waste of time for him.
Originally Posted by
Happy
The benefits of funding a bank account using CC, is the spending on CC would earn - which usually is $1 for a mile/point, or if it is a 2% rebate card, it is 2% per $ spent - therefore, $3000 is meaningless.
It is not the sign up bonus of $100 to $150 that kind of stuff.
Anything below $30K to many is a total waste of time, not to mention the possible headache when things dont go right.
Uh, not so much. Since many banks offer incentived BONUS promos for opening the acccounts - ie SUBSTANTIAL extra bonus miles for opting into the co-branded upgraded debit card (Citi AA Debit Card Premium) or by initiating 2 or more bill pays through the newly opened account within a specified amount of time (Chase United Checking Premium), it would take nothing more than funding account with around $150 to receive 12000 miles from Citi/AA or 16000 from Chase/United.
Perhaps you might think 12k-16k miles for $150-$250 is meaningless...I think many of our FT brethren might disagree. I know I do
