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Anyone ever apply for a credit card just to get the perks that come with it? I have stayed a few times at a Marriott hotel for business, and I got an e-mail saying that if I applied for a Marriott Visa card, I got a free night, and then I got 25,000 Marriott points with my first purchase--which basically equates to 3-5 free nights. Not a bad deal!

I've read the fine print, and it says there is no fee for the first year and $30 thereafter. So, I see no reason why I can't apply for the card (get a free night), use it to fill up my gas tank (get the 25K points), and then cancel the card before this time next year when I would get the $30 fee.

I was just wondering if anyone has ever done anything similar and gotten burned.

Did it once to get two free flights. Cancelled the card without a problem. We have very few credit cards, so adding one for a year wasn't a problem. But I wouldn't do it a lot, I'm sure that would affect your credit rating. Our credit reports say that account was "cancelled by customer request" so I don't forsee any problems with our credit score or anything like that. Actually it worked out great for us, our airfare we used it for would have been over $600. And we still get similar letters from the same company to do it again. Too soon, though.

chippewa wrote:Our credit reports say that account was "canceled by customer request" so I don't forsee any problems with our credit score or anything like that.

Any time you cancel a card always ask that it be noted that it was canceled at your request. That way in the future any new creditors know why the card was canceled. Also make sure the balance is paid off before you cancel it.

Two free airline tickets that I'm using to go to Key West. Whoo Hooo.

I used to have an American Express. I didn't apply for it for the perks but I sure used them. Got a nice Bobby Jones Callaway putter, some golf balls and a driver on the rewards I earned.

let me form a nice way to say this..

Be Back..

OK.. so let me get this straight
you want us to OK the fact that you are getting a Credit card.. with a gift offer...

AND you plan on taking the gift and then dropping the card??

the word Fraud comes to mind..

you and I both know that the issuing company is giving you that card
with the unspoken thought that you will be a customer
and see how great their service is and keep the card..
by planning on dropping the card.. you are not being honest with
them...

in short people, who take these offers, and leave the company are the reason that we have
service commitments for cell phones,tv service.. ETC...

think about it..

Fraud?

In my case, there was a written agreement between the company and me. I had to spend X amount of dollars (on which each transaction the credit card company charged a percentage of the purchase to the retailer). When I fulfilled my end of the deal, they did the same and awarded me tickets. A business deal, that if either side was unhappy with, they should have never entered into. Or offered, for that matter. Nothing was unspoken, there was a standard credit card agreement that was sent detailing all of their policies and requirements. They had a year to prove they were a better credit company than those that I currently use. They weren't.

Though the credit companies make money for each transaction, I would guess that the majority of their income is in finance charges for those that don't pay their balance in full. I sure don't feel as if I am defrauding the company when I pay my entire balance. Their agreement with me says they won't charge me interest, even though it doesn't help their bottom line. They hope I don't so they can collect fees, but don't require me to carry a balance. In the case of cell phones and satellite tv services, they do require a contract -- but when the customer fulfills the agreement they are free to leave. They aren't asked to pay back perks they've received along the way such as free phones or free movie channels. If a customer leaves Sprint for Verizon did they defraud Sprint, or did they just complete their agreement and move on?

My advice, don't enter into deals and then complain about it. Nothing irks me more than an athlete signing a 3-year contract and then wanting a better deal a year later. A deal's a deal, think long and hard before you enter into one. That goes for the company offering one, as well as the individual accepting it.

Now I'm going to think twice about trying that chicken quesadilla sample at Costco next time, when all I went in for was the vegetable tray. Am I expected to always buy the product? Or do they make that offer knowing it's just part of the cost of doing business, and that they have to cast several nets into the water in order to catch a few fish?

chippewa wrote:Fraud?

In my case, there was a written agreement between the company and me. I had to spend X amount of dollars (on which each transaction the credit card company charged a percentage of the purchase to the retailer). When I fulfilled my end of the deal, they did the same and awarded me tickets. A business deal, that if either side was unhappy with, they should have never entered into. Or offered, for that matter. Nothing was unspoken, there was a standard credit card agreement that was sent detailing all of their policies and requirements. They had a year to prove they were a better credit company than those that I currently use. They weren't.

Though the credit companies make money for each transaction, I would guess that the majority of their income is in finance charges for those that don't pay their balance in full. I sure don't feel as if I am defrauding the company when I pay my entire balance. Their agreement with me says they won't charge me interest, even though it doesn't help their bottom line. They hope I don't so they can collect fees, but don't require me to carry a balance. In the case of cell phones and satellite tv services, they do require a contract -- but when the customer fulfills the agreement they are free to leave. They aren't asked to pay back perks they've received along the way such as free phones or free movie channels. If a customer leaves Sprint for Verizon did they defraud Sprint, or did they just complete their agreement and move on?

My advice, don't enter into deals and then complain about it. Nothing irks me more than an athlete signing a 3-year contract and then wanting a better deal a year later. A deal's a deal, think long and hard before you enter into one. That goes for the company offering one, as well as the individual accepting it.

Now I'm going to think twice about trying that chicken quesadilla sample at Costco next time, when all I went in for was the vegetable tray. Am I expected to always buy the product? Or do they make that offer knowing it's just part of the cost of doing business, and that they have to cast several nets into the water in order to catch a few fish?

Oh Sorry I was not talking to the ones that have a commitment..
I was talking to the offers that have no strings and
the people that close them as soon as they get the goodies..
you filled your end of the deal... all good..


Now for the Costco thing.. If I am taking a sample.. yes
I only taste those things that I might buy, maybe not that day
but in the future..


NOW in Specs.. that is different.. the little girl insisted I try her Brandy..

We have a Sam's Club discover card that pays 2 percent back at Sam's and Wal-Mart and 1 percent everywhere else. We spend about 250.00 a month at Sam's anyway, so why not make some money off it in the process

I know 30 bucks isn't much these days but with a 6 week old baby it is now a box of diapers for us.

I would NEVER want to get one of those perks cards then drop them after the perk is paid... Guess what THAT does to your credit score?

Glorfindel7 wrote:I would NEVER want to get one of those perks cards then drop them after the perk is paid... Guess what THAT does to your credit score?

It really shouldn't do anything, especially if you make sure they note that the card was closed by the consumer!

Your FICO, score is more your outstanding debt to available credit ratio and how timely you make your payments. If you have enough credit available to you and pay your bills on time, it shouldn't have much of an impact.

It will have an impact, if the percentage of outstanding debt to available credit, changes significantly!

Also, FICO scores are not static, they change all the time and they are different depending what kind of credit you are seeking. (Mortage, Automobile, Consumer Loans)

Going back and reading my original post, I realize that I did a poor job of describing my intentions. I do not plan to apply for the card, get the gift, and then immediately leave.

I read all of the fine print and saw that for one year, you had no fee but then after the first year, there was an annual fee of $30. None of the credit cards that I have come with an annual fee, so I could not see myself paying an annual fee for a credit card. But, in the meantime, I see myself probably using the card regularly for my regular purchases.

Looking furter at the offer, I see that this is something that they probably expect because they offer 5,000 Marriott rewards for staying with them for a year. In a year, I might see myself willing to fork over the $30 to keep the card and get that perk. But, odds are that won't be an option that I want to entertain.

I am not someone who goes around looking for handouts, and I think my original post may have come off that way. But, I am someone who looks for great deals--and this was a very good deal! But, when I saw that after a year, I had to pay an annual fee when I already have two credit cards that don't require that, I thought that I probably would want to cancel at that point. The reason for my post was to see if anyone had found themselves in a similar situation (the situation being that you sign on with a company because of a perk but after a year of using the company decide that it's not worth it) and had problems canceling--similar to the many problems that people have had canceeling AOL. (Don't get me started on that one! )

Thanks to everyone who has responded. It sounds like no one else has had problems.

Gypsy In The Palace wrote:Going back and reading my original post, I realize that I did a poor job of describing my intentions. I do not plan to apply for the card, get the gift, and then immediately leave.

I read all of the fine print and saw that for one year, you had no fee but then after the first year, there was an annual fee of $30. None of the credit cards that I have come with an annual fee, so I could not see myself paying an annual fee for a credit card. But, in the meantime, I see myself probably using the card regularly for my regular purchases.

Looking furter at the offer, I see that this is something that they probably expect because they offer 5,000 Marriott rewards for staying with them for a year. In a year, I might see myself willing to fork over the $30 to keep the card and get that perk. But, odds are that won't be an option that I want to entertain.

I am not someone who goes around looking for handouts, and I think my original post may have come off that way. But, I am someone who looks for great deals--and this was a very good deal! But, when I saw that after a year, I had to pay an annual fee when I already have two credit cards that don't require that, I thought that I probably would want to cancel at that point. The reason for my post was to see if anyone had found themselves in a similar situation (the situation being that you sign on with a company because of a perk but after a year of using the company decide that it's not worth it) and had problems canceling--similar to the many problems that people have had canceeling AOL. (Don't get me started on that one! )

Thanks to everyone who has responded. It sounds like no one else has had problems.

Gypsy, I too take advantage of any kind of deal that is offered, that benefits me.

I have opened checking accounts with a direct deposit , and have received $100.00. Opened checking accounts and gotten wool throws from Finland. Credit cards that have posted credits to my account credits after making my first purchase. Heck I carry a Delta Skymile American Express that gives me airline milage points , for every dollar spent!

There is nothing wrong with taking advantage of promotions that benefit you.

Your original post was fine. It isn't fraud or anything of the kind.

A company is using it as a leader to get new customers or to have someone try there product or service. If you meet the requirements and choose to leave before it cost you something or after the required time frame, that is fine.

You may try something and find out it is a great product for you and you want to keep it or that it doesn't fit your needs.

I think it is smart thinking and signs of an intelligent person.......like me!