Monday, April 24, 2006

Waiting to hear from emigrant for their cash back credit card

We decided to change credit cards - or in reality - add a new credit card and decommission the old one (a mileage credit card from MBNA).

Our old credit card provider enhanced it's points redemption plan, which inadvertainly increased the cost of european tickets from 50,000 to 60,000 points. We like Europe, but we don't like paying more. Furthermore, they capped the value a ticket could cost to europe (or anywhere) at about 1.2% (I don't recall the exact number, but it was close to that amount) the number of points. Alternatively you can use 1% of the number of points as dollars to buy any ticket.

This basically sets the value of MBNA miles at $.01 - $.012 each. Emigrant pays 1.4%. Sounds like a much better deal. Especially in light of the cap.

The Emigrant card is processed through Juniper. Despite their e-mails, I still can't log onto the website to track progress. I hope we get the card. Our MBNA card has a very high limit and with the new mortgage, I wonder if our debt (or available debt limits) vs. income will be a problem for attracting new credit. Better to find out now than later -- say when we plan to buy a second house.

Have a wonderful day,

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