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Show HN: I built a tool to manage and compare credit card rewards

rewards.getonecard.io

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Re: Show HN: I built a tool to manage and compare credit card rewards

#21

Post by chrisweekly »

streptomycin wrote: post #17

The small % you get on each purchase is crumbs, but the cookie is the big sign up bonus you can get. For the past several years I've been making about $2k/year from that, which is so much more than the % bonus that I don't know why anyone would care about getting 3% back rather than 2%. Like if you are that worried about your money, take the free $2k first.

Do you have a system or tool for finding card offers with signup bonuses?

Also (this is possibly common knowledge but) your credit score is negatively impacted not just by % of available credit utilized, but also by average age of credit accounts. If you're going to want a significant loan (eg a mortgage) in the forseeable future, something to keep in mind.

Re: Show HN: I built a tool to manage and compare credit card rewards

#23

Post by alwa »

AznHisoka wrote: post #13

Why are you making people create an account? If you wanted to monetize your users, the simple way would be adding referral links for each credit card

I hear that pays really, really well:

https://www.newyorker.com/business/currency/how-to-travel-li...

Re: Show HN: I built a tool to manage and compare credit card rewards

#25

Post by johnQdeveloper »

chrisweekly wrote: post #21
streptomycin wrote: post #17

The small % you get on each purchase is crumbs, but the cookie is the big sign up bonus you can get. For the past several years I've been making about $2k/year from that, which is so much more than the % bonus that I don't know why anyone would care about getting 3% back rather than 2%. Like if you are that worried about your money, take the free $2k first.

Do you have a system or tool for finding card offers with signup bonuses? Also (this is possibly common knowledge but) your credit score is negatively impacted not just by % of available credit utilized, but also by average age of credit accounts. If you're going to want a significant loan (eg a mortgage) in the forseeable future, something to keep in mind.

I'm not him but realistically, its a mixture of popular blogs and churning credit card content on social media which is the name some people use for the practice of farming bonuses.

Credit score is impacted by the average age but tbh, I've gotten two mortgages while doing this and compared the numbers with my peers and it could be my situation is unusual but the "cost" was like .2% APR between those that don't churn in my RL group and those that do.

It has (in my experience with multiple mortgages) have a rate set by competent use of credit that does not lead you to have much debt but paying regularly in practice regardless of what the public credit score algo is telling people.

Re: Show HN: I built a tool to manage and compare credit card rewards

#28

Post by ra7 »

chrisweekly wrote: post #21
streptomycin wrote: post #17

The small % you get on each purchase is crumbs, but the cookie is the big sign up bonus you can get. For the past several years I've been making about $2k/year from that, which is so much more than the % bonus that I don't know why anyone would care about getting 3% back rather than 2%. Like if you are that worried about your money, take the free $2k first.

Do you have a system or tool for finding card offers with signup bonuses? Also (this is possibly common knowledge but) your credit score is negatively impacted not just by % of available credit utilized, but also by average age of credit accounts. If you're going to want a significant loan (eg a mortgage) in the forseeable future, something to keep in mind.

r/CreditCards is a good place to find latest offers.

The current hot offer is the 100k points signup bonus for the Chase Sapphire Preferred card.

Re: Show HN: I built a tool to manage and compare credit card rewards

#29

Post by bdangubic »

fn42 wrote: post #12

Interesting idea, thanks for sharing. Some feedback from using: - It said to use amex blue cash for 3% back at costco, but costco only accepts visa - It said to use amex blue cash for 3% back at harbor freight but this card only gets 1% at this store, the BofA customized cash rewards (added to my wallet) is the only card I have found that gives 3% back on home improvement stores - It said to use amex blue cash for 3%…

the tool is sponsored by amex blue :)

Re: Show HN: I built a tool to manage and compare credit card rewards

#30

Post by satvikpendem »

ra7 wrote: post #28
chrisweekly wrote: post #21

Earlier quoted context omitted.

Do you have a system or tool for finding card offers with signup bonuses? Also (this is possibly common knowledge but) your credit score is negatively impacted not just by % of available credit utilized, but also by average age of credit accounts. If you're going to want a significant loan (eg a mortgage) in the forseeable future, something to keep in mind.

r/CreditCards is a good place to find latest offers. The current hot offer is the 100k points signup bonus for the Chase Sapphire Preferred card.

Yep, reddit is the place to go. For redeeming the points, check out r/awardtravel. Tip, do not use the credit card travel portal to book flights and hotels, you will get lowballed.
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