About Greg The Frequent Miler

Greg is the owner, founder, and primary author of the Frequent Miler. He earns millions of points and miles each year, mostly without flying, and dedicates this blog to teaching others how to do the same.

More articles by Greg The Frequent Miler »

13
Leave a Reply

avatar
7 Comment threads
6 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
8 Comment authors
FrequentMilerBad blogging and better than 5X loan payments - The Frequent MilerjanewindycityBillyBob Recent comment authors

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of
Livvy
Guest
Livvy

Does the fidelity amex card report income to govt if rebates beyond$400 or any other amount are earned? Great list, thanks.

FrequentMiler
Guest

Good question. Unfortunately, I don’t know

Heather Miller
Admin

Credit card rebates shouldn’t be tax-reportable, rebates are paying you back for money spent, or effectively a discount (and the money you’re spending — when spending personal funds — have presumably already been taxed).

FrequentMiler
Guest

Yes, that’s true. I should have answered “They shouldn’t report the rebate as income, but I don’t have any personal experience to prove that they do not”

Elaine
Guest
Elaine

Actually I was delighted to get it, even if by mistake. Thanks.

Hassan
Guest
Hassan

Hello,

Just curious to know how long do you typically wait to cancel a card? Most of the credit cards I’ve applied for and received the miles on are coming to year two in which I will be charged an annual fee and of course with over 15 credit cards, getting charger annual fees would cost a pretty penny. So just wondering if I should go ahead and close the cards that charge an annual fee right now or wait until a few months before I am charged the annual fee. Citi waived the fees for one of my cards but chase unfortunately did not waive the fee. Also how will it impact my credit score because as of right now, I nearly have perfect credit.

Thanks,

HAM

FrequentMiler
Guest

Some cards are worth the annual fee, in my opinion, but many are not. As BillyBob suggests, for those not worth the annual fee, I usually wait until the fee appears on my statement and then I’ll call to cancel or downgrade. Sometimes I’ll receive a retention offer that makes it worth keeping the card. If not, I’ll either ask to cancel (and to move my credit line to another card) or to downgrade to a no fee card.

The reason cancelling a card might affect your credit score in the long run is that eventually the credit limit from the card will roll off your credit report and so your monthly credit utilization (as a percent of credit line) will go up. By transferring some of the credit line to a different card, or by downgrading to a no fee card, you can avoid this.

BillyBob
Guest

For HAM: I know with Chase, even if you do wait and they charge you for annual fee, you can call them and get it reversed for (I think) up to 30 days after.

With their first iteration of the Marriott card, I first got the free year, with free night, 70000 points, and even a cash bonus and 5000 more for adding an authorized user. Then they sent me my anniversary night, which appeared in my Marriott Points account. However, soon after they charged the $85, and then I closed the account, with a promise from them that they’d refund the $85, which they did. I expected the certificate to disappear too, but it stayed and I used it before it expired.

Can’t say if you’ll have that string of timing, but it worked for me. It did help make me a fan, too, and I plan to keep the Marriott card (their new metal one) this time around. I got another first free year (no $75 bonus and no free night initially though). And the second time around, I got another 70000 points free.

Have to say I am a fan of Chase’s cards. I hope this helps, and good luck! Points/miles is a fun game.

windycity
Guest
windycity

I tried to load BB using giftcard at WM today with the cashier. And the computer (not the cashier) said only cash allowed for loading, not the debit card. Is anybody having the same problem?

FrequentMiler
Guest

I haven’t tried in quite a while, so I don’t know if its a problem in my area.

jane
Guest
jane

I cancelled my IHG Visa card a couple of weeks ago because the new Mastercard will be coming out. Would I receive the bonus points and free hotel night annually if I apply for the IHG Mastercard?

FrequentMiler
Guest

Yes, I believe so

trackback

[…] Best offers old style […]