Basic CC bonus/spend/fee questions
 

Hi FT. I've decided to branch out from my no fee cash back cards into the miles/points arena. I have several pretty basic questions so I can make sure I am accurately tracking what I'm doing.

When does the clock start on a minimum spend to earn the offered bonus? Is it on app date? Activation date? First use of card?

If there is an annual fee, when is that typically charged? Early in or after a year of use? Does payment of that count toward the minimum spend?

If the annual fee is waived for the first year, would that kick in on month 13?

I'm not sure if there are standard practices for these things or if it varies greatly based on the bank or program. If it varies I'm looking specifically for info on Chase, Citi and Amex.

Kind of OT - My contractor does not accept credit cards and I'd like to earn points for some upcoming work he'll be doing on our home - any suggestions on how to make that work? (other than getting another contractor...)

TIA for your input

Most start the clock on the day you apply. The annual fee is charged on the 12th month, that's why most people cancel at 10-11 months. Some do try at 10-11 months to call and get the 2nd year fee waived. My suggestion would be to buy the materials for the construction. You can also use the Chase and Citi sites to get more miles from your purchases.

I have found the clock starts ticking when the card is actually issued, which is usually a few days after application. You cannot defer the time period though by waiting to activate the card.

If your contractor will sign up for Amazon Payments, you can pay them up to $1000 per month with a credit card. Just select "goods/services" on payment screen so you don't get hit with cash advance fees.

Wirelessly posted (BlackBerry8530/5.0.0.1030 Profile/MIDP-2.1 Configuration/CLDC-1.1 VendorID/417)

"The annual fee is charged on the 12th month, that's why most people cancel at 10-11 months."

Nope; that's true only if the first-year annual fee is waived. If you take a card for which the first-year annual fee is not waived, the fee will usually appear on the first statement, as annual fees are payable in advance.

Typically, annual fees do not count toward meeting an annual spend requirement. However, I think most cards that have a minimum spend requirement currently waive the first-year annual fee.