Venmo Visa $200 SUB offer

[Zoostation1]

I have no business opening another card up now, so I'm not planning on doing anything with this, but got an email this morning with a $200 SUB for $1k spend in 6 months.  It's a really offer to hit, but I'd rather not apply for anything else given i'm only 10 days past opening my most recent card and I don't have a solid use case for the card.

[Wu-Credit]

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@Zoostation1 wrote:

I have no business opening another card up now, so I'm not planning on doing anything with this, but got an email this morning with a $200 SUB for $1k spend in 6 months.  It's a really offer to hit, but I'd rather not apply for anything else given i'm only 10 days past opening my most recent card and I don't have a solid use case for the card.

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It's a SUB offer that's targeted, so those I kind of pull the trigger on. I just close after a year if no need for it after the SUB. Yolo.

[flexin222]

Hey Zoostation, I got a Venmo offer and was like, " Ooh, maybe! " I looked at the fine print APR and said, " Hells to the naw! " It was like 28%. I know the rates and economy is bad, but I will NEVER pay another high APR rate again. I think your gut is telling you what to do. Good times...

[Zoostation1]

@flexin222It's more I don't want the score hit and an account to manage that I won't have a use case after the sub (not much of a churner) than it is the interest rate.  Being a rebuilder I've got high rates on all my cards lol.  I can get some prime cards now, but still generally get the highest rate they have.   The only rate I have below the 28% you referenced is my new Savor at 26.24%.  Fortunately it hasn't mattered since I've been PIF.

[Linnaea]

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@Zoostation1 wrote:

@flexin222It's more I don't want the score hit and an account to manage that I won't have a use case after the sub (not much of a churner) than it is the interest rate.  Being a rebuilder I've got high rates on all my cards lol.  I can get some prime cards now, but still generally get the highest rate they have.   The only rate I have below the 28% you referenced is my new Savor at 26.24%.  Fortunately it hasn't mattered since I've been PIF.

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Congratulations on getting the offer! That's a great thing.   In regards to dating my Mom would say run away until you catch him! I guess it could be said in terms of credit as well!  Run away until you catch the better ones. 

Appears you have a nice rebuild with the cards in your signature.  It's got be nice that you are being courted so fervently.  Kudos for the offer and more Kudos for your restraint.  Many fold to easy.   More should be given accolades for their discipline. 

[CorpCrMgr1]

@Zoostation1  good for you for staying strong!

[FicoMike0]

This card is a 3% category card. Is there any reason to go with this vs a 5% category card?

[coldfusion]

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@FicoMike0 wrote:

This card is a 3% category card. Is there any reason to go with this vs a 5% category card?

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There's no blanket answer but IMO most people would have a hard time coming up with a compelling reason to do so.

I did get a "You've been selected to apply" email from them yesterday but no mention of a SUB, just another DP pointing to the offer being targeted.

[keekers]

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@FicoMike0 wrote:

This card is a 3% category card. Is there any reason to go with this vs a 5% category card?

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Probably only if you can't get the Citi Custom Cash (or the BoA card?) where you can control the rewards category.  The good thing about this card is that it lets you control two categories for rewards, although they are lower % return.  Mine is sock drawered but as I recall I used it for categories that some other cards wouldn't recognize like "bills/utilities".

[FicoMike0]

Thanks, good input. You like citi custom cash? I've been looking at that one. I've also read some positive comments on citi syw. Do you have any opinion on custom cash vs syw?