Resurrecting RadPad

Great news!

They’ve done it again!  RadPad is back, and this time, with no fees.

To be fair, it never really went away, but I happened to find the fees on the credit card options prohibitively expensive.  Their new promotion fixes that problem!

I really do enjoy RadPad’s platform, and was very excited to hear (via Doctor of Credit) that they are currently offering no fees on credit card rent payments using the RadPad app in conjunction with Android Pay.   Even better than the first time around, and I’ll be sure to give it a go!

RadPadPromo

This promotion applies to any credit card payment (debit card payments are always free), as long as you use the RadPad app and Android Pay.  The promotion currently lasts until the end of 2016, so I’ll be able to get a full 5 months out of this deal.  Remember, RadPad charges a few days before the 1st of the month; my January 2017 rent payment will already be sent by the time this promotion wraps up.  I’ll be using RadPad to pay rent for September 2016 through January 2017, a full 5 months.

The Numbers

The most obvious answer is to use this promotion to hit minimum spends on some new cards.  For me, I’ll be putting at least September’s rent on my American Express Platinum Card for Schwab, as I’m still in the process of meeting the minimum spend there.

However, let’s assume for simplicity’s sake that I’ll be using it for regular, non-category spend on another card.  I pay $1600/month in rent, so times 4 months, that’s $8,000!

Alright, let’s look at a couple of options.

It probably makes the most sense for me to put my rent payments on one of my Southwest cards, so that I can earn more points to redeem with my Companion Pass.  Except…Chase does not support Android Pay.  Pretty much every other major player does.  Well, there goes that plan.

The next best card for me to use, in my opinion, would be my American Express Starwood Preferred Guest card.  I’ll really be using my girlfriend’s card, since mine is the business version, and I only use it for business expenses.  Anyway, the card earns only 1 Starpoint per dollar spent, but Starpoints are extremely useful.  Not only do they have plenty of value themselves for hotel redemptions, but the points are easily transferrable to a great list of partners.  The flexibility of the points gives them a value of over 2 cents apiece!

8,000 Starpoints * $.025 = $200

Not bad!  I net 8,000 extra Starpoints, worth around $200.

The next card I might put the spend on is my Barclaycard Arrival+.  Arrival+ miles are worth only 1 cent apiece, but the card earns 2 miles/dollar spent on everything.  You then redeem the miles towards things that other cards can’t always cover, like taxis or AirBnB stays.  There are a number of cards that operate in a similar fashion, including the Discover it Miles.

16,000 Arrival+ Miles * $.01 = $160

Some more flexibility and still a great return!  I won’t make you sit through any more math; I you understand what I’m doing here.  For reference, here are some more.

No matter what card you choose, this is a fantastic promotion!  Even on your average 1% cashback card, you’ll be netting some extra cash.  Combined with different cards and sign-up bonuses, this promotion is the perfect thing for people looking to increase their spending.

A word of caution:  if you’re going to be putting big purchases on your cards, it’s more important than ever to be on top of your credit card debt, and ensure that you’re not carrying balances and paying interest.  Interest quickly negates any benefit that these kinds of deals bring you!

RadPad Series

Review:  RadPad, January 13th 2016

Update:  RadPad, January 14th 2016

RadPad to End Low Fees on MasterCards, April 13th 2016

RIP RadPad, May 25th 2016

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