Best Credit Cards with Relationship pricing (e.g., keeping high balances at the bank)
I've been googling, redditing, and flyertalking. Can't really find any sort of definitive list whatsoever.
I know of the following:
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Originally Posted by FrequentFlyer9000
(Post 32006344)
I've been googling, redditing, and flyertalking. Can't really find any sort of definitive list whatsoever.
I know of the following:
I've looked into this as well. The best I could come up with is moving the deposit amount a couple times a year to whichever bank had a bonus going on for depositing new money. These bonuses though will likely only last you a couple of years at best as there are only so many banks that offer them (or until you're eligible for the bonus again), and I've always received a 1099 for the bonus amount. That's not to mention the horror stories I've read about HSBC, which eliminated a major bonus opportunity for me as I don't think it's worth the headache. The most lucrative, for me at least, seems to be the BoA/Merrill Edge Preferred Rewards. Keeping a rollover IRA there with a balance of $100k+ should yield a lot more cash back for me. I've debated the Schwab Platinum rebate, but I could only get to the $100/year one for now so I don't think it's worth it (not that I'm leaving Schwab. It's probably the best combo of investments/cash account out there considering the debit card rebate, low/no minimums, and great customer service). I'd say you have a great start to the list, but there might not be much more out there unless you have $1mm+ balances/investments with banks that offer unique perks for customers. |
Originally Posted by UVU Wolverine
(Post 32007562)
Unless you start to get into the $1mm+ range of the private side of banks, I don't think so. Even then, those benefits aren't usually published and seem sporadic (like the Citi Gold Amazon Prime rebate). And since I'm assuming you're talking about moving a cash balance around rather than investments, the return you'll get is likely far less apart from being able to get into money markets versus a crappy interest rate savings account.
I've looked into this as well. The best I could come up with is moving the deposit amount a couple times a year to whichever bank had a bonus going on for depositing new money. These bonuses though will likely only last you a couple of years at best as there are only so many banks that offer them (or until you're eligible for the bonus again), and I've always received a 1099 for the bonus amount. That's not to mention the horror stories I've read about HSBC, which eliminated a major bonus opportunity for me as I don't think it's worth the headache. The most lucrative, for me at least, seems to be the BoA/Merrill Edge Preferred Rewards. Keeping a rollover IRA there with a balance of $100k+ should yield a lot more cash back for me. I've debated the Schwab Platinum rebate, but I could only get to the $100/year one for now so I don't think it's worth it (not that I'm leaving Schwab. It's probably the best combo of investments/cash account out there considering the debit card rebate, low/no minimums, and great customer service). I'd say you have a great start to the list, but there might not be much more out there unless you have $1mm+ balances/investments with banks that offer unique perks for customers. |
Originally Posted by FrequentFlyer9000
(Post 32007834)
Thanks. I'm actually thinking of investment balances. To your point, big cash will never be worth the credit card perks if you're getting a low rate. But all these investment brokerage accounts are the same for the most part.
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Originally Posted by FrequentFlyer9000
(Post 32007834)
Thanks. I'm actually thinking of investment balances. To your point, big cash will never be worth the credit card perks if you're getting a low rate. But all these investment brokerage accounts are the same for the most part.
It's definitely been an evolving landscape the last year. Most major brokers went to commission free trades on stocks and ETFs, and many banks already offered that if you had a certain amount invested. Fidelity is offering the 0% management fee ETFs now. At certain point, I value convenience over cost, but when you're considering how much 0.03% will cost you verus 0%, it get's intriguing (all parts being equal). |
Originally Posted by snowmt
(Post 32007887)
Citigold is not bad to park $200K investment. You get Citi Prestige for $350 and also $200 credit toward amazon prime/costco membership etc.
Since we are on this thread, is it clear then that a Citi Priority account no longer offers any benefits related to credit cards or the ThankYou program? As you mentioned above, the fee decrease is with the Gold account. |
I've heard of Morgan Stanley giving new wealth customers a "free" Amex Platinum, not sure if that means the fee is permanently waived or if it is a first year free thing
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Originally Posted by AbyssalLoris
(Post 32098190)
Do you have any experice with Citi's brokerage/platform? I'd be appreciative if you can post something about it, or if anyone else can, really. Of current interest to me, but only if the investment angle is worthwhile or at least sufferable. I can't find much about it online - seems like some sort of legacy brokerage service and far from modern online discount brokerages. Nothing other than a $20 commission stands out, though. What does this mean - do you have to find a rotary phone and dial some broker at a dusty old desk or what? Citi doesn't do itself any favors with so little information out there - perhaps they only cater to a select class of individuals and ok, if it works for them.
Since we are on this thread, is it clear then that a Citi Priority account no longer offers any benefits related to credit cards or the ThankYou program? As you mentioned above, the fee decrease is with the Gold account. I only traded ETFs and that process is very straightforward. Think each trade was $4.95 as a priority customer, which was a competitive at the time. I never did find a list of available mutual funds or fee schedule for that product class. Ultimately, I closed all of my Citi accounts other than my CC, though this was because of issues with their banking arm and not due to any great unhappiness with their brokerage product. The only CC related benefit for priority customers is the handful of banking TY points offered each month for things like direct deposit and autosave. These can't be transferred to airline partners but are handy for topping off portal redemptions. |
You can get 3% cash back from Fidelity if you keep $2mm+ on deposit. If you only keep $1-$2mm then you get 2.5% cash back. And $250k - $1mm, earns 2.25%. The base card is 2%.
https://rewards.fidelity.com/offers/...ealth?ofr=1311 Even with the travel point game - you're hard pressed to consistently beat 3% redemption... if you can keep that on deposit then I'd say it's a worthy choice |
I believe the Suntrust Visa Infinite offers high cashback on travel, dining, gas, and grocery for qualifying members with enough funds. Pretty sure membership is fairly limited in terms of geography.
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Originally Posted by TravelinSperry
(Post 32936633)
You can get 3% cash back from Fidelity if you keep $2mm+ on deposit.
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Originally Posted by mia
(Post 32940630)
As I read it, you also need to be a Wealth Management client which entails a Gross advisory fee: 0.50%–1.50%.
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Originally Posted by randian
(Post 32940654)
Paying $10k+/year on fees to get 3% back on your credit card seems a low-value exchange.
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If you have $1M+ at UBS you automatically get a $500 dining credit with their $495 card, so essentially you get the UBS VI for free. Lots of benefits including $250 airline credit, unlimited guest PP, GE for all AUs, AUs free, free cash advances at ATMs ($10 fee rebate,) no FTF, primary CDW waiver, price protection, event ticket insurance, Gogo, etc. I think UBS opted in to every VI benefit.
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Originally Posted by time_stamp
(Post 32941092)
If you have $1M+ at UBS you automatically get a $500 dining credit with their $495 card, so essentially you get the UBS VI for free. Lots of benefits including $250 airline credit, unlimited guest PP, GE for all AUs, AUs free, free cash advances at ATMs ($10 fee rebate,) no FTF, primary CDW waiver, price protection, event ticket insurance, Gogo, etc. I think UBS opted in to every VI benefit.
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