Author Topic: Negative cost purchase  (Read 3790 times)

Gone Fishing

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Negative cost purchase
« on: February 24, 2016, 07:20:41 AM »
I wanted an anti-Mustachian treat off of Amazon and didn't want to pony up the cash so I cobbled together 2 credit card offers, a gift card offer, a mobile app bonus, and a product rebate to fund the purchase.  Net cost -$19. (remaining as gift card credit).  If I were truly badass I would have used the credits for necessities, but I think it's time to live a little!

arebelspy

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Re: Negative cost purchase
« Reply #1 on: February 24, 2016, 03:11:36 PM »
Haha.  The tricks we play, for amusement.  Well done.  :)
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MasterStache

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Re: Negative cost purchase
« Reply #2 on: February 25, 2016, 07:38:39 AM »
Hilarious. Good work!

Reminds me of a short trip we decided to take over spring break to do some hiking with the kids. Don't really feel like dropping down the dough for a cabin rental so I opened a new CC with a cash back reward that will cover the cost of the cabin. My wife just rolled her eyes.

ender

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Re: Negative cost purchase
« Reply #3 on: February 25, 2016, 06:12:18 PM »
I wanted an anti-Mustachian treat off of Amazon and didn't want to pony up the cash so I cobbled together 2 credit card offers, a gift card offer, a mobile app bonus, and a product rebate to fund the purchase.  Net cost -$19. (remaining as gift card credit).  If I were truly badass I would have used the credits for necessities, but I think it's time to live a little!

Amazon keeps tempting me with their $80 credit card offer...

arebelspy

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Re: Negative cost purchase
« Reply #4 on: February 25, 2016, 06:15:56 PM »
I wanted an anti-Mustachian treat off of Amazon and didn't want to pony up the cash so I cobbled together 2 credit card offers, a gift card offer, a mobile app bonus, and a product rebate to fund the purchase.  Net cost -$19. (remaining as gift card credit).  If I were truly badass I would have used the credits for necessities, but I think it's time to live a little!

Amazon keeps tempting me with their $80 credit card offer...

Meh, you should be shooting for $500 if you're going to sign up for a CC.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

The Money Monk

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Re: Negative cost purchase
« Reply #5 on: February 26, 2016, 02:04:28 AM »

Meh, you should be shooting for $500 if you're going to sign up for a CC.

Why? I do any that give at least $100. No reason not too in my mind. Takes only a few minutes. My credit score is still like 780 or something, and the cards with lower signup bonuses also have lower spending requirements, and usually no annual fees so you don't have to close the card  (which can minorly affect your credit).

Don't get me wrong, I do the $500 ones too, but there just aren't that many of those, and they tend to come with big annual fees and $2k to $3K spending minimums to get the bonus.

arebelspy

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Re: Negative cost purchase
« Reply #6 on: February 26, 2016, 03:59:36 AM »

Meh, you should be shooting for $500 if you're going to sign up for a CC.

Why? I do any that give at least $100. No reason not too in my mind. Takes only a few minutes. My credit score is still like 780 or something, and the cards with lower signup bonuses also have lower spending requirements, and usually no annual fees so you don't have to close the card  (which can minorly affect your credit).

Don't get me wrong, I do the $500 ones too, but there just aren't that many of those, and they tend to come with big annual fees and $2k to $3K spending minimums to get the bonus.

I mean, you get semi-maxed out (Chase has started not issuing new cards if you've gotten 5 in the last year from ANY cc company).. so better to use them for the good ones.

And if you're gonna be working to hit a minimum spend level, at least have it be for a worthwhile bonus.

We signed up for like 20 cards over the course of about 3 months to earn 1MM miles (or 500k miles, and 5k cash, if we desire).  If we wanted to sign up for 50 cards, or 100, I guess we could dip down to ones giving you $100, or 80... just doesn't seem worth it.  Your hourly rate goes way down too, when you drop from $500 to $100.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

Gone Fishing

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Re: Negative cost purchase
« Reply #7 on: February 26, 2016, 07:16:04 AM »

We signed up for like 20 cards over the course of about 3 months to earn 1MM miles (or 500k miles, and 5k cash, if we desire).  If we wanted to sign up for 50 cards, or 100, I guess we could dip down to ones giving you $100, or 80... just doesn't seem worth it.  Your hourly rate goes way down too, when you drop from $500 to $100.

How did you hit the spend requirements?

arebelspy

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Re: Negative cost purchase
« Reply #8 on: February 26, 2016, 09:29:18 AM »

We signed up for like 20 cards over the course of about 3 months to earn 1MM miles (or 500k miles, and 5k cash, if we desire).  If we wanted to sign up for 50 cards, or 100, I guess we could dip down to ones giving you $100, or 80... just doesn't seem worth it.  Your hourly rate goes way down too, when you drop from $500 to $100.

How did you hit the spend requirements?

Manufactured spending.  IIRC, we had to spend something like 70k in 3 months (when we normally spend--as an annual budget--about 20k, and most of that can't be put on a credit card.  Even not counting that fact, over 3 years spending in 3 months.)  It was actually easier than you'd think, though outdated now.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (occasionally) blog at AdventuringAlong.com.
You can also read my forum "Journal."

Rosy

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Re: Negative cost purchase
« Reply #9 on: February 26, 2016, 12:01:30 PM »
Sweet:) on the negative cost purchase.

Wow - 20 cards ARS, that's formidable:)

The $200 to $300 offers can be sweet too and are easier to complete. I haven't done a $100 one yet, could have at my credit union, but since I actually intend to keep my card with them I chose to go with the card that offered the best interest rate instead of the 100 bucks and the rewards. In the long run, that was the smarter choice for me.

But, I'm so looking forward to opening a Chase bank account for a $300 bonus and closing that sucker down the line. I am not interested in a relationship with them - only their bonus money for a cc and bank account. I'm sure they feel equally as warm and fuzzy about me:) 

The Money Monk

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Re: Negative cost purchase
« Reply #10 on: February 27, 2016, 01:44:29 AM »

I mean, you get semi-maxed out (Chase has started not issuing new cards if you've gotten 5 in the last year from ANY cc company).. so better to use them for the good ones.

And if you're gonna be working to hit a minimum spend level, at least have it be for a worthwhile bonus.

We signed up for like 20 cards over the course of about 3 months to earn 1MM miles (or 500k miles, and 5k cash, if we desire).  If we wanted to sign up for 50 cards, or 100, I guess we could dip down to ones giving you $100, or 80... just doesn't seem worth it.  Your hourly rate goes way down too, when you drop from $500 to $100.

Wasn't aware of that about Chase, Good to know. I am also not super serious with the manufactured spending yet either, so the lower spending requirements are good for me. And yes the hourly rate is lower, but it doesn't take me even an hour total time per card, so still well worth it for me.