FordPass Rewards? Why?

[macchiaz-o]

You can use the FordPass credit card, which is described in that other thread, and is lousy. Or, you can use your regular cashback credit card, mine is 2%.

I got significantly more cash than 2% by using the FordPass Rewards Visa, as outlined in the other post.

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[RickMachE]

I got significantly more cash than 2% by using the FordPass Rewards Visa, as outlined in the other post.

Yes, by jumping through hoops, I saw that. To get points that are challenging to spend, plus some cash, which is of course worthwhile.

My wife and I got Chase's Sapphire Preferred cards back in July.

$50 in free groceries
100,000 in bonus points after spending $4,000 within 90 days.

Those points are worth $1,300 in travel booked via the Chase site. Plus the points earned on the $4,000 spend. Basically you get over 105,000 points by spending $4,000, worth $1,365 in travel.

$1,365 / $4,000 = 34.13% cashback Plus the $50 in groceries.

 

[BTRYPWRDPONY]

My son in law has a huge spread sheet for this kind of thing. Has warnings when an annual fee is due and he rolls the balance to another card and cancels the old to avoid the fee. Spends way more time on it that I can to........but then they are also always flying somewhere for a weekend trip with free miles, hotels and rental cars.....so what do I know

That's a great way to kill your credit, opening and closing cards are not nice to your credit score.
Hope he doesn't plan on making a big purchase (eg. house/car) anytime soon. Will not get a good rate. He can do as he wishes, but I did that when I was younger and payed for it for quite a few years.
Just saying.
Cheers!

 

[TRP]

That's a great way to kill your credit, opening and closing cards are not nice to your credit score.
Hope he doesn't plan on making a big purchase (eg. house/car) anytime soon. Will not get a good rate. He can do as he wishes, but I did that when I was younger and payed for it for quite a few years.
Just saying.
Cheers!

Hmmmm............they own a home and it's almost paid off, drive nice cars, have great jobs, food in the fridge, clothes on their backs. I'll be sure to tell them you said they were ruining their lives tho

 

[Dancefreak]

That's a great way to kill your credit, opening and closing cards are not nice to your credit score.
Hope he doesn't plan on making a big purchase (eg. house/car) anytime soon. Will not get a good rate. He can do as he wishes, but I did that when I was younger and payed for it for quite a few years.
Just saying.
Cheers!

The impact is minimal if following established strategies and not carrying balances. There's an entire hobby built around this called credit churning with websites and forums devoted to tips and more. Spending nothing on business class international flights and hotel rooms means more money to enjoy at the destination, or taking trips that wouldn't otherwise be affordable. And my credit is great...in fact, better than when I started playing the points game.

 

[RickMachE]

+1

For those that don't understand the churning game, they probably shouldn't comment on it.

I recently bought my Mach-E, which added ~$55K in debt, nearly 100% utilized.
At the same time, I opened two (one for myself, one for my wife) credit cards with large limits, barely utilized.

Number of cards, how long they're open, credit utilization, ... all have an impact.

My Fico score has not deviated more than 4 points since June (I did the above in July).

Up 3 points in August (yes, up), down 5 in September, up 4 in October, up 1 in November.

I do not churn, or play the points game.

 

[BTRYPWRDPONY]

Hmmmm............they own a home and it's almost paid off, drive nice cars, have great jobs, food in the fridge, clothes on their backs. I'll be sure to tell them you said they were ruining their lives tho

Hi Drama---who said it's going to ruin lives? Take it easy, glad they're doing well. Maybe they figured a way around the FICO system (opening and closing credit and moving balances always hit my score) But whatever glad people figured this out, I was much younger then. Have a great day.

 

[ReelSweet]

If only I could buy some accessories with Doge as opposed to Ford Rewards ...

 

[yngwenli]

+1

For those that don't understand the churning game, they probably shouldn't comment on it.

I recently bought my Mach-E, which added ~$55K in debt, nearly 100% utilized.
At the same time, I opened two (one for myself, one for my wife) credit cards with large limits, barely utilized.

Number of cards, how long they're open, credit utilization, ... all have an impact.

My Fico score has not deviated more than 4 points since June (I did the above in July).

Up 3 points in August (yes, up), down 5 in September, up 4 in October, up 1 in November.

I do not churn, or play the points game.

A dealer let you put the whole car on a/multiple credit cards? Usually they limit it to 5k from my experience or I'd put it all on my cards too.

 

[RickMachE]

A dealer let you put the whole car on a/multiple credit cards? Usually they limit it to 5k from my experience or I'd put it all on my cards too.

No. My dealer allows a max of $1,500.

I was saying how the FordPass credit card is way too much work as compared to something like the Chase Sapphire Preferred. But the post you quoted was explaining that I added the Mach-E's $55,000 loan 100% utilized, PLUS two high limit credit cards (paid off in full each month, and barely utilized during the month), and my credit score went up, then down, then back up, and never by more than 5 points.

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