CardIt
Sep 25, 2007 | 1:32 pm
#32
Original Poster
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Eco Travel, Signatures
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA, IHG & Marriott Platinum; DL & HH Gold
Posts: 51,857
In what sense is it dubious? There is nothing about CardIt's program that says the customer must setup a recurring transaction. Make four $2500 payments, spend $329, collect 40,329 miles. Game over.
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With the Citi CashReturnsSM MasterCard®, you’ll earn 5% cash back on all purchases for 3 months
Sep 25, 2007 | 2:27 pm
#33
Join Date: Aug 2004
Location: SDF
Posts: 3,302
I consider it dubious because 99.9% of consumers don't get a new credit card every 3-6 months as required by your schemes.
Also, the 20,000 for $750 seems ridiculous to count toward CardIt because there are a lot easier ways to rack up to those $750 minimums, such as everyday spending. Personally, I would only count miles I would not have earned otherwise, and a signup bonus does not fall into that category.
Also, the 20,000 for $750 seems ridiculous to count toward CardIt because there are a lot easier ways to rack up to those $750 minimums, such as everyday spending. Personally, I would only count miles I would not have earned otherwise, and a signup bonus does not fall into that category.
Sep 25, 2007 | 2:42 pm
#34
Original Poster
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Eco Travel, Signatures
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA, IHG & Marriott Platinum; DL & HH Gold
Posts: 51,857
We are in complete agreement. My idea is to apply for one, and only one, card. Use it for four transactions. Done. These are miles I would not have earned otherwise because it uses dollars that are currently disbursed by check, rather than dollars that are already run through another card.
It makes no difference to me whether you like the idea, but please explain if you think my arithmetic is incorrect: 40,329 miles for $329 extra dollars.
It makes no difference to me whether you like the idea, but please explain if you think my arithmetic is incorrect: 40,329 miles for $329 extra dollars.
Sep 25, 2007 | 2:48 pm
#35
Join Date: Aug 2004
Location: SDF
Posts: 3,302
Your arithmetic is fine if you wouldn't have gotten that card without CardIt, but I personally wouldn't apply for a card just to use for a few mortgage payments when I already have enough trouble keeping my total Citi cards below their allowable limits (in terms of # and frequency of applications). There's an opportunity cost to signing up for an AA card.
Sep 25, 2007 | 6:24 pm
#36
Original Poster
Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Eco Travel, Signatures
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA, IHG & Marriott Platinum; DL & HH Gold
Posts: 51,857
Thank you for the clarification. There certainly is a case for spending $750 to collect 20,750 miles and ignoring the rest, but this is a quirk of the ineptly designed offer. In any event my purpose was primarily to illustrate a different way of thinking about CardIt as a tool for extracting value from bonus offers, without disrupting one's normal pattern of accumulation.
Last edited by mia; Sep 25, 2007 at 7:57 pm
Sep 26, 2007 | 12:28 am
#37
Join Date: Nov 1999
Location: SFO
Programs: UA 1.050MM, PersonalCar 0.275MM
Posts: 1,720
I play the arbitrage game of taking funds from 0% or low percentage introductory credit card offers and putting them into high-yield savings or other investment accounts. CardIt and other similar services would assist in this arbitrage game only for the C/C's that offer 0% on new purchases but not on balance transfers, and my experience has been that most cards offering 0% offer it on balance transfers, not purchases, though some offer 0% on both balance transfers & purchases. So CardIt seems to be of limited utility for this purpose.
Oct 9, 2007 | 12:59 pm
#39
Join Date: Feb 2000
Location: Mississippi
Programs: AA Lifetime Gold, HH Diamond
Posts: 1,460
So if you had a $1,000 mortgage, you could use this service and get, say, 1,000 miles, for the cost of $44.89.
Or, you could send flowers from USAir->FTD, for $45 and earn 945 miles (900+45 for card spend). - free flowers, and no worries about a new company having a mix up that ends up with a late payment and mark on your credit report.
Maybe this makes more sense for someone with a million-dollar mortgage, but not me.
Or, you could send flowers from USAir->FTD, for $45 and earn 945 miles (900+45 for card spend). - free flowers, and no worries about a new company having a mix up that ends up with a late payment and mark on your credit report.
Maybe this makes more sense for someone with a million-dollar mortgage, but not me.
Oct 9, 2007 | 1:00 pm
#40
Join Date: Sep 2007
Posts: 7
Thank you for checking with us - safe and comfortable flying everyone!
- Jake
Oct 15, 2007 | 1:31 pm
#41
Join Date: Jun 2000
Location: SLC
Posts: 600
Or, you could just BUY the miles directly from Delta for $30... 
So if you had a $1,000 mortgage, you could use this service and get, say, 1,000 miles, for the cost of $44.89.
Or, you could send flowers from USAir->FTD, for $45 and earn 945 miles (900+45 for card spend). - free flowers, and no worries about a new company having a mix up that ends up with a late payment and mark on your credit report.
Maybe this makes more sense for someone with a million-dollar mortgage, but not me.
Or, you could send flowers from USAir->FTD, for $45 and earn 945 miles (900+45 for card spend). - free flowers, and no worries about a new company having a mix up that ends up with a late payment and mark on your credit report.
Maybe this makes more sense for someone with a million-dollar mortgage, but not me.
Feb 6, 2010 | 6:45 am
#42
Join Date: Dec 2009
Posts: 1,825
Is this service dead?
When I typed CardIt.com into google, the site did not appear on the first page of results. What became of it and are there other alternatives? I'm needing to meet spend on my wife's BA 100K CC. Doesn't seem like it would be good value to me for any other purpose than quickly meeting spend.
Feb 6, 2010 | 10:20 am
#43
Join Date: Nov 2009
Location: MRY
Posts: 436
When I typed CardIt.com into google, the site did not appear on the first page of results. What became of it and are there other alternatives? I'm needing to meet spend on my wife's BA 100K CC. Doesn't seem like it would be good value to me for any other purpose than quickly meeting spend.
I haven't used it, but there is some talk about chargesmart.com over in MilesBuzz.
http://www.flyertalk.com/forum/miles...e-tuition.html
Feb 6, 2010 | 10:53 am
#44
Join Date: Jan 2007
Posts: 2,905
When I typed CardIt.com into google, the site did not appear on the first page of results. What became of it and are there other alternatives? I'm needing to meet spend on my wife's BA 100K CC. Doesn't seem like it would be good value to me for any other purpose than quickly meeting spend.
Feb 6, 2010 | 1:26 pm
#45
Join Date: Dec 2009
Posts: 1,825
I haven't used it, but there is some talk about chargesmart.com over in MilesBuzz.
http://www.flyertalk.com/forum/miles...e-tuition.html
http://www.flyertalk.com/forum/miles...e-tuition.html