The Float game

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Nov 25, 2015 | 9:38 am

bbriscoe34

Original Poster

Join Date: Feb 2012

Location: DEN

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The Float game

Another idea - I've tried linking my BlueBird to my Capital One 360 savings account and I am hoping to sweep all my loaded funds there then pay AmEx on the CC due dates. RIght now I'm waiting to see the test deposits to confirm the account linkage. I know I only get .75% on savings, but its something - if I keep an average balance of $5000 in loads floating, that should give me an extra $3-4 per month, which covers the fee on one simon GC.

Anyone else doing this and are there risks I should be concerned about?

Nov 25, 2015 | 9:46 am

g1ant

Join Date: Jul 2005

Location: Austin TX.

Programs: AA GLD (1MM), Hilton Diamond, IHG Platinum

Posts: 790

Quote:

Originally Posted by bbriscoe34

If you dump money out of BB into a bank on a regular basis, they will close you down.

Nov 25, 2015 | 9:54 am

bbriscoe34

Original Poster

Join Date: Feb 2012

Location: DEN

Programs: Hilton Diamond Hyatt Globalist Marriott Gold AA EXP

Posts: 1,198

Who will? BB or Capital One?

How regular is regular?

Nov 25, 2015 | 9:58 am

CWAL

Join Date: Oct 2014

Posts: 827

Quote:

Originally Posted by bbriscoe34

I know I only get .75% on savings, but its something - if I keep an average balance of $5000 in loads floating, that should give me an extra $3-4 per month, which covers the fee on one simon GC.

Anyone else doing this and are there risks I should be concerned about?

I tend to have a few grand lying around in various accounts due to float, and tend to try to leave it in interest bearing accounts if at all possible.

Last month I got one or two bucks in interest.

I don't think it's really worth doing just for the interest, but it is free money if you can work it into your other MS requirements.

Nov 25, 2015 | 5:55 pm

kenme1

Join Date: Jul 2013

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Quote:

Originally Posted by g1ant

If you dump money out of BB into a bank on a regular basis, they will close you down.

I think not, been maxing Serve a $5k month on four accounts then with drawing to bank accounts for over four years without any issues.

Nov 26, 2015 | 9:42 pm

travelfreaks

Join Date: May 2015

Posts: 441

Much smarter ways to unload it and a couple bucks in interest is irrelevant in the grand scheme of things.

Last edited by travelfreaks; Nov 26, 2015 at 9:48 pm

Nov 26, 2015 | 9:54 pm

air360

Join Date: May 2014

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Just Bill Pay from Serve and be done with it.

Nov 26, 2015 | 11:06 pm

Steve in Olympia

Join Date: Sep 2009

Posts: 2,894

Quote:

Originally Posted by g1ant

If you dump money out of BB into a bank on a regular basis, they will close you down.

Every dollar that I load to my BB gets withdrawn to my bank account, with no problems.

Nov 27, 2015 | 4:15 am

travelfreaks

Join Date: May 2015

Posts: 441

Quote:

Originally Posted by Steve in Olympia

Every dollar that I load to my BB gets withdrawn to my bank account, with no problems.

Yet...Besides its an extra step for no benefit.

Nov 27, 2015 | 6:37 am

#10

Churnman

Join Date: Mar 2007

Location: Midwest U.S.A

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Posts: 1,407

I haven't thought about paying a cc bill off by the due date in a long time. Figured out a long time ago to pay it off before it even closes and saw my credit scores go up. I float lots of money every month from many cards yet my score has stayed between 817 to 835 (real FICO). For me, due date is too late.