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Baisius comments on Effective effective altruism: Get $400 off your next charity donation - Less Wrong
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Comments (17)
If you don't want to bother signing up for a bunch of cards, the US Bank Cash+ card gives 5% cash back for charitable donations, up to I think $2000 per quarter. This is a worse percentage but lower-effort and does not ding your credit (as long as you don't miss payments, obvs).
Also, as I understand, it's actually better not to cancel the cards you sign up for (unless they have an annual fee), because "average age of credit line" is a factor in the FICO score. Snip them up, set up auto-pay and fraud alerts and forget about them, but don't cancel them.
It does not seem like the expected value of the probability of something slipping through the cracks would pay for the marginal increase in the credit score.
Disagree. Autopay minimum and set up charge alerts for anything that goes to the card. Approve of your heuristic in general - in thos case, though, the automation works well and reliably.
I was more making a point about the value of a credit score - mine is near perfect anyway. I have a mortgage and three permanent credit cards that I maintain, and no real blemishes.
How do you get to know your credit score?
For people who would otherwise not have multiple credit cards, the increase in credit score can be fairly substantial.
In addition to Dorikka's comment, you are not liable for fraudulent charges; usually the intermediating bank is.