Basic CC bonus/spend/fee questions
Sep 13, 2012 | 7:46 pm
#1
Original Poster
Join Date: Aug 2012
Location: BOS
Posts: 49
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
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
Sep 13, 2012 | 7:57 pm
#2
Join Date: Nov 2010
Location: Traveling some where hopefully
Programs: AS, AA Gold, and Hilton
Posts: 1,953
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
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
Sep 14, 2012 | 6:46 am
#3
Join Date: May 2008
Location: Las Vegas since 11/2023
Programs: No status anywhere anymore, it was fun while it lasted
Posts: 4,648
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.
Sep 15, 2012 | 4:25 pm
#4
Join Date: May 2012
Posts: 221
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.
Sep 15, 2012 | 4:52 pm
#5
FlyerTalk Evangelist
Join Date: Dec 2003
Location: Not here; there!
Programs: AA Lifetime Gold
Posts: 34,988
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.
"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.