Schwab Invest Visa? 2% cash back on everything? [Discontinued card]
Dec 15, 2010, 7:13 pm
#871
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,762
I called before each long trip and on one trip the rep seemed only notated down Europe without specific countries. Since we were going to Turkey and they did not use Euro I decided to call back and made the 2nd rep to specify Turkey in the itinerary as well. No issue during the whole 6 weeks long trip.
I did notice the FIA website could go down without any notice nor even the "look" of going down. The only thing I can tell it is down is its inability to log in ShopSafe server to check the virtual account information, nor seeing new authorizations coming up online. Otherwise you would not be able to tell the site is down, and it often is down during the night time on weekends.
Our charge pattern varies big time based on our travel pattern - some months it could be up to almost max, other times could be less than 10% of the available credit. Line items can also differ from less than a buck to over 1,000 bucks. It does not seem to cause any issue.
I did notice the FIA website could go down without any notice nor even the "look" of going down. The only thing I can tell it is down is its inability to log in ShopSafe server to check the virtual account information, nor seeing new authorizations coming up online. Otherwise you would not be able to tell the site is down, and it often is down during the night time on weekends.
Our charge pattern varies big time based on our travel pattern - some months it could be up to almost max, other times could be less than 10% of the available credit. Line items can also differ from less than a buck to over 1,000 bucks. It does not seem to cause any issue.
Dec 15, 2010, 7:53 pm
#872
Join Date: Jun 2009
Location: LAX
Posts: 6,769
I wonder if the clientele with the Schwab card have varying charge patterns that go around the world because of the no forex fee. I have a Citi PPE and that card, when I first got it, was a pain because they would hold my charges if I happened to be in another city that was within driving distance! The Schwab/FIA card doesn't seem to care if I call in my travels in advance.
Jan 3, 2011, 4:37 pm
#873
Join Date: Jan 2003
Location: NYC
Posts: 8,498
targeted 3% cash back promo
Did anybody else get a 3% category-based cash back promo on their ex-Schwab card?
I got a letter by snail-mail the other day (actually two, one to me and a separate one to mrsmicah) and then an e-mail just now. From the e-mail:
The registration code is a unique targeted code, so I unfortunately can't share it.
Because the 3% gets credited as a statement credit, it looks like this is actually in addition to the 2% cash back that I already get, which is a pretty good deal. The $25 maximum is annoying, but I'll probably put all my gas and restaurants no this card this quarter (since my Chase Freedom is also 5% on groceries and drugstores this quarter).
I don't use my Schwab card much (only a couple times a month on average), so I'm guessing they're just trying to get me to pull it back out of the drawer.
I got a letter by snail-mail the other day (actually two, one to me and a separate one to mrsmicah) and then an e-mail just now. From the e-mail:
Earn 3% cash back
on qualifying purchases through March 31, 2011*
Use your Visa Signature® credit card to earn 3% cash back on gas, grocery store, drug store and restaurant purchases. It’s a great way to earn up to $25 cash back. Simply register and use your card for these types of purchases before March 31, 2011.
*To be eligible for this cash back offer, your account must be open with charging privileges and you must register for this offer by March 31, 2011. From the date you register through March 31, 2011, you will earn 3% cash back for eligible purchases, up to a total of $25. Eligible purchases exclude any credits, returns and adjustments. To qualify for this cash back offer, the transaction must be assigned one of the following specified merchant category codes: Gas Stations (5541-5542), Grocery Stores (5411, 5422, 5441, 5462, and 5499), Drug Stores/Pharmacies (5122, 5912) and Restaurants (5811-5814) (each an "eligible purchase" for this offer). Purchases made at a merchant that does not process transactions under these codes, balance transfers, cash advances, including purchases of cash equivalents, fees, interest charges and unauthorized or fraudulent transactions will not qualify. You will receive your cash back reward in the form of a statement credit to your account. Allow up to 10-12 weeks from the end of the promotion for the statement credit to appear on your credit card billing statement or online statement. Receipt of a statement credit does not affect your responsibility to pay your Total Minimum Payment shown on your monthly billing statement. We reserve the right to verify eligibility of all transactions.
on qualifying purchases through March 31, 2011*
Use your Visa Signature® credit card to earn 3% cash back on gas, grocery store, drug store and restaurant purchases. It’s a great way to earn up to $25 cash back. Simply register and use your card for these types of purchases before March 31, 2011.
*To be eligible for this cash back offer, your account must be open with charging privileges and you must register for this offer by March 31, 2011. From the date you register through March 31, 2011, you will earn 3% cash back for eligible purchases, up to a total of $25. Eligible purchases exclude any credits, returns and adjustments. To qualify for this cash back offer, the transaction must be assigned one of the following specified merchant category codes: Gas Stations (5541-5542), Grocery Stores (5411, 5422, 5441, 5462, and 5499), Drug Stores/Pharmacies (5122, 5912) and Restaurants (5811-5814) (each an "eligible purchase" for this offer). Purchases made at a merchant that does not process transactions under these codes, balance transfers, cash advances, including purchases of cash equivalents, fees, interest charges and unauthorized or fraudulent transactions will not qualify. You will receive your cash back reward in the form of a statement credit to your account. Allow up to 10-12 weeks from the end of the promotion for the statement credit to appear on your credit card billing statement or online statement. Receipt of a statement credit does not affect your responsibility to pay your Total Minimum Payment shown on your monthly billing statement. We reserve the right to verify eligibility of all transactions.
Because the 3% gets credited as a statement credit, it looks like this is actually in addition to the 2% cash back that I already get, which is a pretty good deal. The $25 maximum is annoying, but I'll probably put all my gas and restaurants no this card this quarter (since my Chase Freedom is also 5% on groceries and drugstores this quarter).
I don't use my Schwab card much (only a couple times a month on average), so I'm guessing they're just trying to get me to pull it back out of the drawer.
Jan 3, 2011, 4:39 pm
#874
Join Date: Jun 2009
Location: LAX
Posts: 6,769
Did anybody else get a 3% category-based cash back promo on their ex-Schwab card?
I got a letter by snail-mail the other day (actually two, one to me and a separate one to mrsmicah) and then an e-mail just now. From the e-mail:
The registration code is a unique targeted code, so I unfortunately can't share it.
Because the 3% gets credited as a statement credit, it looks like this is actually in addition to the 2% cash back that I already get, which is a pretty good deal. The $25 maximum is annoying, but I'll probably put all my gas and restaurants no this card this quarter (since my Chase Freedom is also 5% on groceries and drugstores this quarter).
I don't use my Schwab card much (only a couple times a month on average), so I'm guessing they're just trying to get me to pull it back out of the drawer.
I got a letter by snail-mail the other day (actually two, one to me and a separate one to mrsmicah) and then an e-mail just now. From the e-mail:
The registration code is a unique targeted code, so I unfortunately can't share it.
Because the 3% gets credited as a statement credit, it looks like this is actually in addition to the 2% cash back that I already get, which is a pretty good deal. The $25 maximum is annoying, but I'll probably put all my gas and restaurants no this card this quarter (since my Chase Freedom is also 5% on groceries and drugstores this quarter).
I don't use my Schwab card much (only a couple times a month on average), so I'm guessing they're just trying to get me to pull it back out of the drawer.
Jan 3, 2011, 6:11 pm
#875
Join Date: Oct 2004
Location: NYC
Programs: AS MVP Gold, BA Silver, AA Gold, Marriott Titanium, Hyatt Globalist
Posts: 1,619
Out of curiosity, is your "couple times a month" usage current? How long ago was it that you in fact last used the card?
Jan 3, 2011, 7:34 pm
#876
Join Date: Nov 2007
Location: Itinerant
Programs: DL FO, AA PLT, BD *G
Posts: 402
I got a completely different promo, by email today:
Use your Visa Signature® credit card to earn 5% cash back by paying bills. Simply register and have your cable, satellite, phone, internet or insurance service providers bill monthly recurring charges to your card before March 31, 2011. It’s a great way to earn up to $25 cash back.
Restrictive language is similar to themicah's offer.
Use your Visa Signature® credit card to earn 5% cash back by paying bills. Simply register and have your cable, satellite, phone, internet or insurance service providers bill monthly recurring charges to your card before March 31, 2011. It’s a great way to earn up to $25 cash back.
Restrictive language is similar to themicah's offer.
Jan 3, 2011, 8:58 pm
#877
Join Date: Dec 2009
Location: IAH ↔ PAR
Posts: 777
Got a different one yet:
Earn 5% cash back
on qualifying purchases through March 31, 2011*
Use your Visa Signature® credit card to earn 5% cash back on airfare, hotel, travel agency, car rental and cruise purchases. It’s a great way to earn up to $25 cash back. Simply register and use your card for these types of purchases before March 31, 2011.
on qualifying purchases through March 31, 2011*
Use your Visa Signature® credit card to earn 5% cash back on airfare, hotel, travel agency, car rental and cruise purchases. It’s a great way to earn up to $25 cash back. Simply register and use your card for these types of purchases before March 31, 2011.
Jan 3, 2011, 11:40 pm
#878
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,762
Nada here. Probably because I have been using it to the max in past few months. Just put $1700 deposit on a cruise on Dec 29 for example.
However, if the $25 referred to is the total amount one could earn over the 3 months promo period, that is too little - that is $500 spent in those categories in 3 months? What are they thinking?
However, if the $25 referred to is the total amount one could earn over the 3 months promo period, that is too little - that is $500 spent in those categories in 3 months? What are they thinking?
Jan 4, 2011, 3:40 am
#879
Join Date: Feb 2009
Location: SFO
Posts: 45
They definitely seem to be trying to tempt me away from the miles/points path, towards the cash side, no categories...
This would make much more sense to do if its really $25 max per transaction...
Earn 5% cash back on qualifying purchases through March 31, 2011*
Use your Visa Signature® credit card to earn 5% cash back on every new purchase from a tank of gas to eco-friendly appliances. It's a great way to earn up to $25 cash back. Simply register and use your card for purchases before March 31, 2011.
*To be eligible for this cash back offer, your account must be open with charging privileges and you must register for this offer by March 31, 2011. From the date you register through March 31, 2011, you will earn 5% cash back for eligible purchases, up to a total of $25. Eligible purchases exclude any credits, returns and adjustments. Balance transfers, cash advances, including purchases of cash equivalents, fees, interest charges and unauthorized or fraudulent transactions will not qualify. You will receive your cash back reward in the form of a statement credit to your account. Allow up to 10-12 weeks from the end of the promotion for the statement credit to appear on your credit card billing statement or online statement. Receipt of a statement credit does not affect your responsibility to pay your Total Minimum Payment shown on your monthly billing statement. We reserve the right to verify eligibility of all transactions.
Use your Visa Signature® credit card to earn 5% cash back on every new purchase from a tank of gas to eco-friendly appliances. It's a great way to earn up to $25 cash back. Simply register and use your card for purchases before March 31, 2011.
*To be eligible for this cash back offer, your account must be open with charging privileges and you must register for this offer by March 31, 2011. From the date you register through March 31, 2011, you will earn 5% cash back for eligible purchases, up to a total of $25. Eligible purchases exclude any credits, returns and adjustments. Balance transfers, cash advances, including purchases of cash equivalents, fees, interest charges and unauthorized or fraudulent transactions will not qualify. You will receive your cash back reward in the form of a statement credit to your account. Allow up to 10-12 weeks from the end of the promotion for the statement credit to appear on your credit card billing statement or online statement. Receipt of a statement credit does not affect your responsibility to pay your Total Minimum Payment shown on your monthly billing statement. We reserve the right to verify eligibility of all transactions.
Jan 4, 2011, 7:34 am
#880
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
Jan 4, 2011, 7:49 am
#881
Join Date: Dec 2002
Location: Washington, DC, Chapel Hill, NC (RDU)
Programs: DL Plat (won't hit DM again) 2MM (2.5), HH Gold, PC Gold, Hyatt Plat
Posts: 5,626
I didn't get the offer from the former Schwab card -- so I'm at the regular 2% level. But Chase offered me an additional 4% on grocery and drugstore purchases in the first quarter, bringing the total to 5%. And the T&C, if you take the time to read them are very clear --
Maximum bonus reward accumulation during the promotional period is $60 or 6,000 bonus points, which equates to $1,500 in net purchases.
Bravo to Chase for the clarity.
And Discover is offering 5% on air fare, restaurants, hotels, and cruises in the first quarter with the T&C but with a cap of $800 in purchases, or an extra $32 in rewards. Not bad, but not great either. Not quite as clear as Chase, at least for me, but pretty clear -- the bonus works for up to $800 in purchases.
Maximum bonus reward accumulation during the promotional period is $60 or 6,000 bonus points, which equates to $1,500 in net purchases.
Bravo to Chase for the clarity.
And Discover is offering 5% on air fare, restaurants, hotels, and cruises in the first quarter with the T&C but with a cap of $800 in purchases, or an extra $32 in rewards. Not bad, but not great either. Not quite as clear as Chase, at least for me, but pretty clear -- the bonus works for up to $800 in purchases.
Jan 4, 2011, 8:08 am
#882
Join Date: Apr 2006
Location: LIS/ATL/other
Programs: UA 1K, Avis PC, Hertz PC, Sixt Plat, Marriott Gold, HH Silver
Posts: 1,983
In my case, it's pretty clear they are targeting categories that I never use my Schwab/FIA card for:
I never charge these expenses to the card because I use my Amex Blue Cash for gas, grocery store, and drug store (5% cash back) and my Amex Costco card for restaurants (3% cash back). For everything else I use the Flexperks card or the FIA/Schwab card. Clearly they are trying to get my business in the other categories.
5% cash back on gas, grocery store, drug store and restaurant purchases
Jan 4, 2011, 8:35 am
#883
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
I have a different interpretation. The common element of those categories is that the vast majority of transactions are made in person. An incentive to use the card at those types of establishments increases the probability that you will carry the card on your person and also use it elsewhere.
Jan 4, 2011, 9:03 am
#884
Join Date: Apr 2006
Location: LIS/ATL/other
Programs: UA 1K, Avis PC, Hertz PC, Sixt Plat, Marriott Gold, HH Silver
Posts: 1,983
I have a different interpretation. The common element of those categories is that the vast majority of transactions are made in person. An incentive to use the card at those types of establishments increases the probability that you will carry the card on your person and also use it elsewhere.
- They already know that I carry my card, as they see it getting swiped at all kinds of other merchants.
- Others, such as BDA shorts above, reported targeting in other categories (cable, satellite, phone, internet and insurance) which are exactly the kinds of transactions that one typically does not carry the card.
Jan 4, 2011, 9:07 am
#885
Join Date: Jan 2003
Location: NYC
Posts: 8,498
I have one ~$20 recurring transaction that hits the card every month. I'll sometimes go a few months without putting anything else on it, then I'll put a few random charges on it. Looking at my history, until a week or so ago, I hadn't used the card for anything but the recurring charge since September.