Jump to content

Regions Pre-screened offer $300 cash back ...


 Share

Recommended Posts

My plan was to wait till November or so before any new cards, preferably my first Chase card. I've opened 2 cards /24 one in November and one in March. 

 

Just need a little validation that this is a decent offer . 18 mos no interest on purchas , 300 cash back 1000 spend in 3 months,we are going to spend about 3000 on furniture in June. What do y'all think?

Link to comment
Share on other sites


15 hours ago, DebtFreeIn04 said:

18 mos no interest on purchas ,

 

May I be frank?

 

CHOlkEhUwAAxeyT?format=jpg&name=small 

 

Do you really need to string out furniture payments for a year and a half, even at 0%?

 

What are you going to do with the card after 18 months?  What's the rewards structure? 1% back?  1.5% back?  I glanced through their cards.  🥴

 

Also, $300 is pretty middle of the pack for SUBs.  

 

Is the main draw the preapproval?  The financing offer?  

 

I prefer to look at credit cards as perpetual rebate machines, beginning with the sign-up bonus and continuing with every purchase from that point forward. 

 

I would rather see you do something like the US Bank Cash+, which currently has a pitiful $150 SUB, but you could select Furniture Stores as one of your 5% categories and get back 5% on the first $2k of the furniture purchase (quarterly cap) and 1% on the rest. 

 

BUT:

 

The following quarter you can switch your categories to utilities, streaming/ISP, etc., and get 5% back on those purchases indefinitely.  This card is like an annuity, it just keeps on giving.

 

Among the challenges of emerging with better credit is that people aren't accustomed to getting even mediocre offers, so the impulse to grab a short-term win is strong.  But there's a hangover later.

 

You are reaching the point where you can get any card you want, at which point this Regions card is going to be completely useless, and you'll end up closing it (or worse, continuing to use it when you have infinitely better options).

Link to comment
Share on other sites

Wait i thought you were CV!? 🤣

 

I could pay cash without issue, was thinking how can I leverage paying other high interest cc's and the thought of a 300 discount  was appealing. 

 

I was going to string them out for 6 months, while I used extra cash to payoff couple high interest CC namely home depot and marvel cards. Which might only take 4 or 5 months. Then sock drawer.  After sub rewards only 1.5.

 

And yes I'm right there with not being accustomed to better offers. 😕

 

I'm really glad I actually posted before pulling the trigger . Impulsivity has been a monster in the past. 

 

 

Link to comment
Share on other sites

You know, you could just defer the furniture purchase until the high-interest credit cards are paid off, and then apply for a better card with a higher SUB and more lucrative ongoing rewards, all while patting yourself on the back for having less debt, paying a lot less interest, and enjoying lower utilization and higher scores.

 

:) 

 

Kindest regards,

frank

Link to comment
Share on other sites

3 hours ago, DebtFreeIn04 said:

I could pay cash without issue, was thinking how can I leverage paying other high interest cc's

 

If I read this correctly and infer that you currently carrying outstanding balances at 10%+, then the Regions card may trump the US Bank Cash + in your situation. (even if relegated to your sock drawer upon payoff of the furniture purchase).  You need to weigh the interest reduction possible should you go with the 0% finance against the alternate potential cashback earnings on Cash + (also factoring respective cash SUB's).  ... I'm betting heavily on the Regions Card.

Link to comment
Share on other sites

Posted (edited)

Yes, right now I have zero balances on 11 of 19 cards. The 8 with balances are in a range between 20% and 48% and falling.  My overall utilization is at 26%. The immediate gratification factor i see is being able to payoff 1 high interest rate card and almost half of another with available cash and get $300 discount with regions. 

 

BTW the longer vision will be new home mortgage maybe in 1 year to 18 mos. So will be avoiding new credit in a few months. 

 

If I did regions I'd probably would only go 5 or 6 mos to payoff.

Edited by DebtFreeIn04
Clarify
Link to comment
Share on other sites

4 hours ago, cv91915 said:

You know, you could just defer the furniture purchase until the high-interest credit cards are paid off, and then apply for a better card with a higher SUB and more lucrative ongoing rewards, all while patting yourself on the back for having less debt, paying a lot less interest, and enjoying lower utilization and higher scores.

 

:) 

 

Kindest regards,

frank

Oh that sounds good but I have the wife factor! 6 months ago I sorta said "yeah we can get some new furniture in June"  she remembers! 🤣🤣🤣

Link to comment
Share on other sites

5 hours ago, DebtFreeIn04 said:

Yes, right now I have zero balances on 11 of 19 cards. The 8 with balances are in a range between 20% and 48% and falling.  My overall utilization is at 26%. The immediate gratification factor i see is being able to payoff 1 high interest rate card and almost half of another with available cash and get $300 discount with regions. 

 

If I did regions I'd probably would only go 5 or 6 mos to payoff.

 

Targeting accelerated debt payoff is a good thing.  Just hope that you wouldn't accelerate the 0% furniture debt payoff while you have any of the other interest accruing debts outstanding; depending on the Regions interest rate, it might make sense to carry that balance beyond the 0% promo rate period if it permits you to repay higher rate debt faster.  (I acknowledge that your goal is to accelerate payment of all outstanding debt.)

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share




  • Member Statistics

    • Total Members
      183,040
    • Most Online
      2,046

    Newest Member
    16bishop
    Joined
×
×
  • Create New...

Important Information

Guidelines