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Old 06-07-2019, 04:30 AM
Autoputzer Autoputzer is offline
Officially Welcomed to the 'Fest
Location: NW Floriduh
Join Date: Mar 2014
Posts: 8,662
Mein Auto: 2014 535i + 2018 X3 30i
They run specials, too. A few months before we bought our last BMW, they sent me a offer of 10% rebates for a six-day period. I had a road trip coming up, and I needed to get some land cleared. So, I hit them for $6k in charges in six days. They also had a special once where the gave $100 in bonus rebates if I spent $2k in December.

Our last BMW was $55k and change out the door. BMW FS was having a deal: 1.9% for 60 months. Financing $50k got me the $500 credit on the card, plus I put the remaining $5k due on the card. You get the rebates on a new car in $100 increments. I racked up $1200 in rebates in about 16 months.

I'm a credit card "rebate ranger." I select which cards I use for specific types of purchases to maximize my rebates. That means credit card companies probably lose money on me. Chase called me years ago and asked if I wanted an Ink card. I only use if for the elevated points purchases: restaurants, office supply stores, home improvement stores. Every few years they call me up, do some friendly chit-chat, and eventually get around to asking what type of business I have. I tell them I'm a freelance restaurant critic, and then I let out a big burp. They leave me alone for few more years.

I have a GM MasterCard, but I'm grandfathered in on the old rebate rules from the 1990's: 5% on purchases up to $10k/calendar year, and points are good for 84 months (seven years). If I plan my purchases right (first year: all purchases in the later part of the year, last year: all purchases in the earlier part of the year), I get $4k off on a GM car. My beaters are always GM's bought new. Next spring I'm buying my third GM beater, and I'll put a big chunk of that purchase on my BMW FS card.

Once, GM MasterCard sent me cash advance checks and said I'd earn 5% if I used them, but I'd be paying the cash advance interest rate. Back then I got 5% rebates on purchases up to $20k/year, and I couldn't get there when I was single. So, I read all the rules, and sent them a check for $7k. As soon as it cleared, I paid my rent for eight months in advance and made a few other purchases. Because my account had a negative balance, I didn't get charged any interest.
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