Credit underwriting rant

[IBroke]

I have a grandfathered 1.5% Cashback PayPal debit card! It is what I used throughout my Chapter 13!

Wow, how did you manage to get 1.5%?

[justbroke]

Wow, how did you manage to get 1.5%?

Grandfathered! I believe when the card first came out, I got it. At the time, it was 1.5%! i still enjoy 1.5%... shhhh... don't tell anyone!

From my account:

Cash back Earn 1.5% cash back whenever you sign for a purchase. With this PayPal Debit MasterCard, you can select the credit option instead of the debit option when making purchases.:1.5%

[IBroke]

Grandfathered! I believe when the card first came out, I got it. At the time, it was 1.5%! i still enjoy 1.5%... shhhh... don't tell anyone!

Lucky you!

[iswmle]

I Use USAA because I get 1.25 % back on everything but I also have a few cards that I use for specific reasons. Capital One when traveling out of the country, AMEX for costco, gas and restaurants, target and lowes for 5% off, CFNA for $14 oil change and tire rotation, and Chase Freedom for 5% cashback on the current promotion.
Haven't added it all up but I probably save/get back $1500 a year.
Logan

That sounds like real good savings, I am terrible at juggling so many credit cards, though. And my fiance has the type of personality who believes in "there can be only one" and for that one he is a loyal customer for life. He has his card, I have mine, and then we have a PNC Cashback card that we use to pay our bills with (utilities, internet, gaming accounts, etc). If I could pay my rent with it, I would.

So, after having my Capital one cash back rewards for 6 months now, they just raised my CL from $500 to $750. Not bad.

BTW, an interesting cash back DEBIT card is the one offered with a PayPal account. You get 1% cash back on every credit transaction and the funds are debited from your PayPal account - or, they way I have set it up, gets debited from your linked checking account.

So if you don't want to go the credit card route, this is an interesting option.

I have a grandfathered 1.5% Cashback PayPal debit card! It is what I used throughout my Chapter 13!

Congrats on the cli!! I think banks are getting more aggressive with getting rid of the rewards debit cards, though. Within the last 3 years I have had 2 banks say goodbye to their debit rewards programs (USAA and PNC). No grandfathering in, no "you've been a member for so long..." nothing more than "spend 'em while you can, because they're gonna be GONE". Debit rewards cards are quickly becoming one of those stories that people will tell while reminiscing about more nostalgic times.

"Back in the old days, when I walked 8.7 miles through the snow uphill to get to school, and we huddled around the radio listening to Little Orphan Annie... I would pay for my lunch with my PNC Rewards Debit card and get 3 points for every dollar spent. Those were the days..."