Some of my friends play the CC points game and are pretty good at it. I can't keep up with all the hoops one must navigate to earn the maximum. I was tempted to get an AMEX platinum when they offered an extra 120000 pts but didn't do it. I use two credit cards - Costco Citibank for gasoline at Costco (5% back) and travel/eating out (3%). Everything else goes on a BOA cash rewards card that pays 2.35% if you maintain 100k in a combination of BOA and Merrill accounts. This works great for me with little hassle.
I concur on E-trade. They have a great trading platform and good service. I used them for several years but had worries about them surviving the banking crisis. So had them transfer my account to Vanguard, where I held my mutual funds. In hind sight I would have been better served remaining with E-trade, but there was fear in the air at that time and their stock was cratering :-(
I was with Vanguard for 40 years. Sadly about three years ago their service really took a nosedive. It's hard to breakup with a company that you have relied on and that you have trusted for so many years. Then, they botched up a corporate action on one of my holdings and it took me hours on the telephone to remedy the situation. Subsequently I walked into a Schwab office and personally met my Schwab advisor, opened an account and transferred my Vanguard holdings to Schwab. When calling there is never a wait. If he doesn't answer directly, he phones me back within a few minutes. He also responds quickly to emails. Surprisingly I received a rather large cash bonus for opening the account and my rep takes myself and my wife out to lunch a couple times a year. I have a self directed no fee account so am amazed at the service I receive and it makes me feel appreciated. My only nitpick is that Schwab does not offer a sweep account into a money market fund. So one must sell money market funds first and then buy stocks to avoid margin interest charge. Thiis extra step is irritating. Incidentally Schwab has a fine tool for QCDs that keeps track of how much you have withdrawn from your IRA and how much more you need to withdraw to meet your MRD.
Comments
Some of my friends play the CC points game and are pretty good at it. I can't keep up with all the hoops one must navigate to earn the maximum. I was tempted to get an AMEX platinum when they offered an extra 120000 pts but didn't do it. I use two credit cards - Costco Citibank for gasoline at Costco (5% back) and travel/eating out (3%). Everything else goes on a BOA cash rewards card that pays 2.35% if you maintain 100k in a combination of BOA and Merrill accounts. This works great for me with little hassle.
Post: Quinn had his credit score lowered. I view credit cards as a necessary evil
Link to comment from July 14, 2025
I concur on E-trade. They have a great trading platform and good service. I used them for several years but had worries about them surviving the banking crisis. So had them transfer my account to Vanguard, where I held my mutual funds. In hind sight I would have been better served remaining with E-trade, but there was fear in the air at that time and their stock was cratering :-(
Post: Which banks, brokerage firms and other financial companies would you recommend to friends?
Link to comment from June 22, 2024
I was with Vanguard for 40 years. Sadly about three years ago their service really took a nosedive. It's hard to breakup with a company that you have relied on and that you have trusted for so many years. Then, they botched up a corporate action on one of my holdings and it took me hours on the telephone to remedy the situation. Subsequently I walked into a Schwab office and personally met my Schwab advisor, opened an account and transferred my Vanguard holdings to Schwab. When calling there is never a wait. If he doesn't answer directly, he phones me back within a few minutes. He also responds quickly to emails. Surprisingly I received a rather large cash bonus for opening the account and my rep takes myself and my wife out to lunch a couple times a year. I have a self directed no fee account so am amazed at the service I receive and it makes me feel appreciated. My only nitpick is that Schwab does not offer a sweep account into a money market fund. So one must sell money market funds first and then buy stocks to avoid margin interest charge. Thiis extra step is irritating. Incidentally Schwab has a fine tool for QCDs that keeps track of how much you have withdrawn from your IRA and how much more you need to withdraw to meet your MRD.
Post: Which banks, brokerage firms and other financial companies would you recommend to friends?
Link to comment from June 22, 2024