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Max
Max (@guest_466355)
August 26, 2017 19:17

One small upshot is that this bank bonus wouldn’t be taxable since it is a rebate. Typically, bank bonuses are taxed at about 1/3 (30% federal tax plus a small amount of state tax). So in that sense this non-taxable $100 bonus is equivalent to a $150 typical taxable bonus.

Max
Max (@guest_466358)
August 26, 2017 19:22

Also, since PIN purchases are included, one trip to the post office and 3 money orders would suffice, and you’d get $100 rebate for a total fee of $4.40 (or $2.10 at Walmart). So there’s no opportunity cost at all compared with using a credit card for everyday purchases.