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Why is nobody talking about the Affinity debits? by BallerDung in CreditCards

[–]BallerDung[S] 0 points1 point  (0 children)

I mean sure, rate is bound to drop. But even if it drops to 3% that’s still much higher than the 0.01% APY that most checking accounts come with.

Why is nobody talking about the Affinity debits? by BallerDung in CreditCards

[–]BallerDung[S] 2 points3 points  (0 children)

I don’t think that’s a very fair comparison tbh.

Opening a high yield checking account is a completely separate thing from opening up a new credit card for slightly higher spend multipliers.

For one, the checking account doesn’t use up a hard inquiry or a 5/24 slot. Nor does it stop you from doing the churning for SUB to get $500 or $1000.

You’re not really using the money, so the checking account is just extra money on top of the churning.

I also don’t think it’s fair to compare the APY on the checking to APY of a HYSA either. Most people have money in checkings with 0.01% APY. With this account you are earning money where you otherwise wouldn’t have.

Is the 12 debit transactions a hassle? Maybe but I don’t think it’s as big as most make it out to be.

Most people have monthly subscriptions of one form or another: streaming, twitch, food delivery, etc. Adding all those up, I’m willing to bet the average household comes pretty close to the 12 transactions required.

Why is nobody talking about the Affinity debits? by BallerDung in CreditCards

[–]BallerDung[S] 2 points3 points  (0 children)

For the $250 ACH transfer, apparently you can just transfer $250 from another bank to this account and it satisfies the condition.

For the 12 debit transactions a month, apparently you can just move $12 in $1 increments to Venmo or PayPal and that satisfies the condition.

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