They can only post what the merchant has finalized. If it was delayed, it’s most likely because (for whatever reason) the merchant took longer than you expected to present the finalized transaction.
That small glitch charge, or whatever you want to call it. is not even close to being an item deserving of focus here. It’s unimportant, a subordinate thing entirely. Focus instead on this important fact:
The terms and conditions for the Freedom CU rewards card do NOT contain the boilerplate customarily found in T’s and C’s of other rewards credit cards relating to unconventional spending, or quasi cash purchases, or (again) whatever you wish to call the kinds of spend oftentimes engaged in by MSers. This is what gave me hope for the Freedom CU card early on. It is unusual to find a rewards card lacking, in its terms and conditions, that oftentimes disruptive and costly language (case in point: NFCU).
Q: Shin: understood. But the card still is only good for the next two months at 5% across the board after which Cinderella’s golden carriage turns into a 1% pumpkin! Right or wrong?
Correct. However, two things:
First, there is money to be made in these two months, probably the best two of any year for spending.
Second, I can still make very nice profit with a 1% card provided they do not tighten up the existing rules concerning unconventional spending. I am already doing this elsewhere.
So bottom line the Freedom CU 5% card has worked out. One word of caution, though:
I received a promo today via email for the card which contained warning the deal might not be offered much longer. Anyone wanting “in” would be wise to jump ASAP.
Membership in Freedom Credit Union is open to any qualified individual that meets the membership criteria for the American Consumer Council and live in the states of Pennsylvania, New Jersey, Washington D.C., Maryland, Virginia, West Virginia, or Delaware. ($8 membership fee). Membership is also open to the following: 1) those who live, work, attend school, volunteer or worship in Bucks, Chester, Delaware, Montgomery, or Philadelphia Counties in Pennsylvania; 2) employees and students of Community College of Philadelphia and over 200 area Select Employer Groups also qualify.
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I apologize. I grabbed that quickly from Ken’s website. Now am uncertain if it is current. You need to telephone them. Here is what they are publishing at this time, straight from the horse’s mouth:
You see, a while back Freedom had a 3% CD deal going on. Many of us, including myself, from all across the country joined back then to get that CD. It is possible that since then they have tightened up their eligibility requirements. Again, you need to call 'em to be sure.
We should setup a SEG for Fragile Deal and associate it with all of the really juicy credit unions. 
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I remember reading somewhere (online application T&C?) recently that Chase now requires at least $1K/yr revenue for business cards. AFAIK, if you apply under your SSN, the credit line (the total of all Chase lines) will be based on your personal income.
I joined the ACC as step to joining the Freedom CU. I was told my credit card was approved subject to becoming a member. But after mailing in documents and then sending them as an attachment, they now say they still lack these things needed. Have others run into these problems>
Well first of all you will not regret joining the ACC. Cannot tell you how many times I have needed that certificate.
Regarding Freedom, it is a small CU. They have their ways of doing things, but I have found the reps there generally pleasant and friendly. Best bet is probably to follow through and try to fulfill their requests. You should come out OK in the fullness of time. I had no problems with them as best I’m able to recall. But I think other applicants might have had issues. It was a while back and it’s difficult for me to recall. Wish you good fortune as you move forward through the application process.
Update: I received a letter from Chase yesterday looking to confirm my Business name and address. I faxed them my county business license and a bank statement today. The only rub is that the business name I use is “FIRST NAME LAST NAME Tax Preparation” but my county license says “LAST NAME, FIRST NAME Tax Preparation.” That’s because I don’t have a fictitious name certificate. My state doesn’t require one if your last name is in the business name. However, the commissioner of revenue interprets that to mean my last name has to be the first word of the business name. It hasn’t been an issue when opening bank accounts, but we’ll see if it is an issue with Chase. I think it will probably go through.
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After more phone calls my membership did go through with today as the date of approval of the card, which I hope to receive soon. I look forward to getting 5% on spending for a short time during which I expect to pay a son’s college tuition and room charges, and also estimated taxes, along with much regular spending. This appears to be one of the best credit cards deals I have run across.
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I got instant approval for WF Propel but only a “we need more time to decide” message for Chase Sapphire Preferred. funny too that Chase keeping sending me reminder email to apply for that card.
I did not read anything in T&C that requires me to keep the Chase open for certain amount of time either.
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WF Propel has a pretty good bonus of 30,000 points($300) after $3000 purchase in 3 months plus at least 1% rewards. That’s a 10% bonus.
WF Cash Wise VISA has $200 cash back after $1000 spending in 3 months. That’s a 20% bonus on the first $1000 plus 1.5% cash rewards.
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Just checked in with my newfound BFFs at Freedom Credit Union. Oh my goodness is this going well. Am on second month now and am vigorously pushing the envelope after having, last month, merely experimented.
This is akin to finding money, a LOT of money, lying unattended in the street. The contrast with the skinflints (maybe tightasses would be a more apt description) at NFCU is vivid. In fact, the Freedom experience is the precise antitheses of the one I had at NFCU.
What does annoy me about Freedom, well actually about myself and not them at all, is that I very nearly did not “bother” to sign up for the deal. I saw it, at first, as strictly short term and not worth the effort. Came much too close to missing out on a wonderful deal. Need to loosen up a bit and make “go for it” my SOP.
Congrats, Argyll. That is a marvelous win for you. I’m happy for your success!!
You should “go for it” with a business card.
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Well, I’ve not done that. I have no business, not even a “fig leaf” business. I have nothing of the sort. And in this digital age I do not want third parties of any nature to get the erroneous impression I do have a business.
'Cause I don’t.
Whatever it is you do with your credit card rewards arbitrage could very easily be classified as a business if you chose to do so. I don’t know what you mean when you say you don’t want “third parties” in this “digital age” getting an impression you have a business.
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I can offer an example, even though this is off topic here. So I shall be brief:
I live nearby to a state border. I have a PO Box in that other state. I also carry ID from both states - all legal, with full disclosure to the out-of-state state of my actual, physical, address.
They came after me anyway in hope I owed them tax.
This is 2018. There are aspects related to businesses I do not understand. I probably never did. Talking about relationships to government at all levels, federal, state, local; taxes, permits, regulations . . . it goes on.
In my view: potential can of worms. And most importantly, I have no business!!
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If you’re intending to and making profit from credit cards, someone does probably technically have a business by IRS definition. Of course you’d be correct that they won’t notice or “make” them report it as such. And I’m not suggesting to treat it as such either. It makes most sense to just ignore it. Income tax is owed on credit card profits if you only manufacture spend. If you mix in regular consumable purchases, you could apply those rebates vs the purchase price and there is no profit. If you’re buying things you’ll later sell for a profit (such as merchandise or precious metals), you are supposed to reduce the cost basis by the value of the rebate.
IMO someone also can’t reasonably argue it’s just a hobby. IRS is clear, yes someone can make unexpected income from a hobby (hobby profits still must be reported on tax return as taxes are owed, losses just can’t be deducted and no SE taxes paid). But its a business if there is an intent to profit. With rewards arbitrage you are intending to profit from each and every transaction. You know in advance of the transaction that it will be profitable.
Still haven’t heard back from Chase. Had their Freedom card for years and this is the way they treat me…