Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Post by Rainmaker41 » Tue Feb 21, 2017 5:27 pm
American Express continues to ply my mailbox with outrageous offers. A few Gold Card ones came the laat few weeks, and now they are even more bold.
Despite my 2016 tax return showing well less than the average individual income, I am 'invited to apply' for the $450 annual fee American Express Platinum Card. If I manage to charge nearly 8 months' non-rent expenses in the first 3 months, I will get membership rewards allegedly 'valued at up to $1,000 in gift cards at select merchants'.
I can't store sufficient non-perishable food, let alone transport it from the grocery store on foot, to accomplish that.
I see that the business return envelope requires no postage. Other than returning it with the application transformed into confetti (even assuming that would work) how can I stop ridiculous credit card offers from being mailed to me? It is a waste of paper, postage, and my time.
85% Global Stock, 15% US Fixed Income sperry8 Posts: 3081 Joined: Sat Mar 29, 2008 9:25 pm Location: Miami FLPost by sperry8 » Tue Feb 21, 2017 5:34 pm
Simply call American Express and tell them to stop.
Alternatively you can call the credit bureaus and tell them you do not want your info provided to any credit lending agencies. This will effectively stop all cc offers.
BH Contests: 23 #89 of 607 | 22 #512 of 674 | 21 #66 of 636 |20 #253/664 |19 #233/645 |18 #150/493 |17 #516/647 |16 #121/610 |15 #18/552 |14 #225/503 |13 #383/433 |12 #366/410 |11 #113/369 |10 #53/282
awval999 Posts: 1318 Joined: Fri Apr 08, 2011 10:17 pmPost by awval999 » Tue Feb 21, 2017 6:03 pm
Oh you have the 100,000 MR Platinum offer!
Many people in the points/miles credit card hobby are very jealous of you.
Do you travel at all? It's a very enticing offer. Honestly.
The Wizard Posts: 13356 Joined: Tue Mar 23, 2010 1:45 pm Location: Reading, MAPost by The Wizard » Tue Feb 21, 2017 6:06 pm
I have a recycle bin.
Actually, I have a paper grocery bag in a particular place where all junk mail and other paper goes until it's time for the recycle bin.
I try to focus on the bigger issues, not the little stuff.
Post by Sheepdog » Tue Feb 21, 2017 6:19 pm
Go to the credit card opt-out screen: https://www.optoutprescreen.com/?rf=t where you can opt-out from all credit card offers. I haven't had one for a decade since signing on.
Unless you try to do something beyond what you have already mastered you will never grow. (Ralph Waldo Emerson)
Doom&Gloom Posts: 5648 Joined: Thu May 08, 2014 3:36 pmPost by Doom&Gloom » Tue Feb 21, 2017 7:02 pm
Sheepdog wrote: Go to the credit card opt-out screen: https://www.optoutprescreen.com/?rf=t where you can opt-out from all credit card offers. I haven't had one for a decade since signing on.
Or unopened to a trash can.
Topic Author Rainmaker41 Posts: 734 Joined: Tue Apr 26, 2016 11:34 amPost by Rainmaker41 » Tue Feb 21, 2017 7:14 pm
awval999 wrote: Oh you have the 100,000 MR Platinum offer!
Many people in the points/miles credit card hobby are very jealous of you.
Do you travel at all? It's a very enticing offer. Honestly.
Haha. Yeah I realize it is worth at least $550 on paper, but I don't think I can (sensibly) charge enough fast enough. Plus I doubt I'd actually be accepted for the card; I charge maybe $500 tops per month now. Also, I don't want the credit score hard inquiry as we might be looking at a mortgage in a few years.
85% Global Stock, 15% US Fixed Income DTSC Posts: 1194 Joined: Mon Oct 20, 2008 9:47 am Location: IllinoisPost by DTSC » Tue Feb 21, 2017 8:00 pm
If you travel or want to travel, this is a great credit card to get points for airfare.
Getting credit card sign up bonuses to redeem for airline and hotel points is known to some as "travel hacking" or "miles and points" hobby. This "hobby" has allowed my family to get *30* free round trip tickets and over 30 free hotel nights in the last 2 years. Basically, I'm able to get anywhere from 10-20% back on *all* my spending, including car insurance, groceries, property taxes, utilities, cell phone bills - anything except for the babysitter because she wants cash.
If you don't spend enough to meet the minimum spending required, you can use a site like Plastiq.com to use the card to pay your bills, including rent or mortgage. Yes, Plastiq charges a ~2% fee, but if you can get $1000 back in gift cards or cash, it's a good deal.
For me this amounts to thousands of dollars per year
Of course, if you don't pay your credit card off every month, this is NOT something you should pursue as the interest payments will eat you alive. However, since you're posting on Bogleheads, I assume that you're sensible with money.
If you're getting married soon (as you signature line indicates) wouldn't you want to go somewhere for your honeymoon? For free? Check out the website below
BTW, applying for cards do not affect your credit score much as long as you pay your bills on time and pay them off. One of my credit cards offer a credit score monitoring service. My score has not fluctuated by more than 5-10 points, no matter how many cards I get.
FrugalInvestor Posts: 6275 Joined: Thu Nov 06, 2008 11:20 pmPost by FrugalInvestor » Tue Feb 21, 2017 8:10 pm
From site:
"Under the Fair Credit Reporting Act (FCRA), the Consumer Credit Reporting Companies are permitted to include your name on lists used by creditors or insurers to make firm offers of credit or insurance that are not initiated by you ("Firm Offers"). The FCRA also provides you the right to "Opt-Out", which prevents Consumer Credit Reporting Companies from providing your credit file information for Firm Offers.
Through this website, you may request to:
Opt-Out from receiving Firm Offers for Five Years - (electronically through this website).
Opt-Out from receiving Firm Offers permanently - (mail Permanent Opt-Out Election form available through this website).
Opt-In and be eligible to receive Firm Offers. This option is for consumers who have previously completed an Opt-Out request - (electronically through this website)."