I don't know how many people this might apply to, but I just got an offer from Discover CC: "Sign up and you will earn $30 Cashback Bonus after you make a single purchase of $1,000 or more between 3/1/14 and 4/30/14 with your Discover card. Up to three qualifying purchases are eligible to receive Cashback Bonus under this offer. Cashback Bonus will be applied within two billing cycles after a qualifying purchase posts to your account." I did the math; this is slightly beneficial for me. I would do 40 Silver Eagles from Provident. My credit union charges me $10 for a wire, so I am save $40 not $30. Mailing checks is so 1800's and it take 10 days longer. Anybody? -bw
In case you haven't noticed this is an australian site with mostly Aussie members. We don't have discover cards here. Your post might get more responses on kitco and the like.
wasn't long ago heaps of people were maxing out their credit cards to get more silver 'cos it was sitting on $38 oz and looked like it was going back to $50 oz.. oops! so you got an offer too good to refuse from the dev.. I mean bank? You can do what you like but in my opinion, chasing credit to stack silver defeats the purpose. the issue here is you want more then you can afford. I can help show you how to make some extra bucks from junk, but that takes a bit of hard work and unlike credit, you actually gotta earn the money before you can spend it. but scrapping for cash does make money, it's gets to a point where it's almost on tap, you need some, go cash in some copper, or wire, or aluminium, maybe motherboards, so on.
Assuming you have the cash and simply pay the Discover card back immediately after the transaction why not. If you read BW's OP he says he would normally wire the funds from his credit union, so cash is there - he's just using the CC to reduce wire fees and get a free $30.
Usually most of the credit cards with rewards and cash back offers have a monthly and or yearly fee, you have to take this into account.
And buying gold on CC's usually means a higher fee. The sites I use all charge more for using a CC VS check. And the fee's of purchasing $1000 in silver would be WAYYYY more than $30 bucks. So I see it as going backwards.
Well credit cards are unsecured debt so if you max out your card for PM and never intend to pay it back and don't mind your credit being ruined you'll be good!
Byron, yes I noticed it was Aussie, I did not know Discover wasn't a world wide concern. Please forgive me. Miniroo, I pay my card, in full, in Cash, at Sears (owned by Discover), every month. I haven't revolved my card in over 13 years. It is a convenience, not an ATM. The only debit I carry is my mortgage 4.25%, & my car 1.99%, which I am paying off two payments per month XB Ding, Ding, Ding, you are correct Sir. Kam-L, No monthly/yearly fee for discover, or to be included in their "Deals". Number One Funman-san, On top of our usual one percent back from Discover, (which we usually take in the form of a $50 gift card for $45 "points") last December they were giving an ADDITIONAL 5% back on internet purchases. That 6% easily off sets the 2.99% that Provident charges for non-cash. If I bought 40 Silver Eagles from provident (Right Now) it would cost me $28 dollars more than cash, (1055.55 v. 1083.55) but I would get $30 back, and not have to pay $10 wire, plus the speed of the CC. $12 dollars is marginally insignificant, even in this nickel & dime game. But I would get faster delivery and the points on the card, win-win-win. Kendo, not ready to blow my credit out yet. I did it once when I was 20, did many credits for close to $5K. I am a responsible home owner, with a mortgage, a respected member of the community, even the President of our HoA. There may come a time when I "do the whole F***ing Village", but that will be on BoA Visa, not Discover. -bw
Yeah Discover is a US-only thing (well maybe North America ... do they have them in Canada?) Never heard of them before I moved to the US. Australia mostly uses the big three global credit cards: Visa, Mastercard, American Express. Diners is accepted in ~some~ places but not particularly popular. JCB is also accepted in most of the bigger cities, particularly touristy places (for obvious reasons).
FWIW - JCB runs on the Discover network (at least in the US) and Diners is actually owned by Discover.
