Oh my goodness what a wonderful outcome! Logged into my Freedom Credit Union account this morning not really expecting much. They said it could take five or six days for the CC rewards to be credited. Nope:
There was almost $700 in rewards in my savings. They paid the FULL 5% reward as promised, right across the board. I could scarcely believe my eyes.
Q: So Shin, was any of that unconventional spending? Because if that all was owing to conventional spending it’s really not a big deal.
It was mostly unconventional spending, though there were a good number of smaller conventional purchases. But the big items were unconventional.
Q: When you use the term “unconventional” . . . could you put a finer point on that?
Sure. One major “purchase” is exactly the same one that NFCU screwed me on, paying zero reward. Freedom paid me 5%! Another purchase was my silver coins, documented elsewhere on this forum on the “Hot Deals” board.
Q: So you are saying coin purchases are “unconventional spend”?
Look, I dunno, OK. I never bought silver before. So I just do not know. Unconventional spending, generally, is purchase of anything which can readily be converted to cash. Quasi cash is how some financial institutions refer to it. And different ones treat such spending in different ways, with some paying rewards regardless . . . and others not.
Q: Nearly seven hundred bucks is a decent reward. Did you need to exhaust your entire credit line to garner that much?
Absolutely not! It was my first time using the card. I had no way in advance to know how they would treat some of my spend. So I did not go “pedal to the metal”. I was cautious. But this month it will be different!
Q: Anything else you can add for benefit of others who might have or want this card?
Not much. First of all, I just checked the Freedom CU website and their offer for this card, at 5%, remains open.
Only other thing is a small wrinkle, CERTAINLY not a problem, that I want to report:
I adhered to Argyll’s rule on this card. Means I paid off my balance a day or two before the statement closed. On every nickel I paid off I received the 5% reward very timely. However, there was a glitch, a small charge which they sort of messed up and did not apply to my card until the last moment.
Q: OK, so they applied a charge late. Was that conventional or unconventional spending?
It was a small conventional charge, couple hundred bucks. Because the charge came in so late it was not covered when I made my Argyll payoff, though I did manage to pay off that small charge on the very last day, November thirtieth.
Q: So what? Where are you going with this, Shin?
Again, not a big deal and certainly NOT a complaint. But I did not receive the 5% reward for that small charge . . . yet. I assume I will next month.
So all I’m saying is that they might not be paying the 5% reward until you pay off your card.
Q: You sure of that?
No, not sure. Only can report what happened with that small charge that I paid off really late. I will be adhering to Argyll’s rule on this card anyway, going forward. The late payment on the small charge was only just a glitch. But if you have the card and did not garner your rewards as timely as I did, it might (or might not) have something to do with the timing of your payments.