Loyal3: My Final Credit Card Rewards Purchase

unilever-brand-imprintI recently shared an email I received from the no commission brokerage Loyal3 that stated it will no longer be offering stock purchases with credit cards starting November 18th.  I’ll still be funding this account, but at a much slower pace; however,  I wanted to make one last push with my 1.5% cash back rewards credit card.  I put another $650 to work in Unilever (UL) which bought me 15.9817 shares at an average cost of $40.67 per share.  I now own 23.5210 shares of UL for a total cost basis of $950 or $40.39 a share.  My 12-month forward dividends increase to a new total of $1,338.90.  In other words, I’ll now be averaging $3.67 in passive income every single day just for waking up.

Here is a recent fast graph of Unilever:

2014_NOV_FG_UL

Did you make any last minute purchases with Loyal3?  How much passive income do you receive each day?

My Dividend Growth

http://www.mydividendgrowth.com

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26 thoughts on “Loyal3: My Final Credit Card Rewards Purchase
  1. Dividend Mongrel

    Hey Ryan,
    You cant go wrong with adding UL and getting some last minute cash back for your investment. I purchased a variety of companies on L3 in order to also take advantage of the 1.5% cash back. I think today will be the last day for it so I might make a few more purchases which I will share at the end of the week. I’m always glad to see what your buying and I will be sure to also make one final UL purchase as well.

     
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    1. My Dividend Growth

      Dividend Mongrel,

      Nice! Glad to see you were able to press forward with some diversity in those last minute rewards as well. I see a few people are taking it all the way up to the last monthly automatically credit card transaction that goes through next month. I’ll be sitting back now and connecting my bank account for smaller amounts when I see fit and am interested to see how long it’ll take to process those transactions when I’m already funded. Keep up the great work over there.

      Best Wishes,
      Ryan

       
      Reply
  2. writing2reality

    Like the move since I’m doing the same thing… I’ll have put $1,100 in UL this month through Loyal3, with some additional cash towards SBUX as a “play/growth” pickup. Enjoy the fun while it lasted, now to settle in for some more “regular” DRIP style investing I think.

     
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    1. My Dividend Growth

      W2R,

      Way to make use of L3 in this last month of rewards! I drink my fair share of SBUX, even though this frugal community would look down on that, hehe. There is just something about a dirty chai tea latte that I can’t stop drinking! Mmmmm, maybe I’ll go grab one now and support your next dividend 🙂 We shall now DRIP on this account together and I’ll be curious to see how often you contribute to it.

      All my best,
      Ryan

       
      Reply
  3. Huw

    Hi Ryan,

    How’s it going?!

    Unilever is one of those companies that has a great reputation both sides of the pond. We all appreciate what a stable and consistent company they are. Money well spent!

    I’m also a Unilever shareholder. I haven’t added to my position as there been some better value options in the FTSE in my opinion, but I’m very likely to increase my position at some stage.

    You’ve got me thinking about cashback credit cards in the UK and whether that’s something I could adopt. I’ll look into that!

    Keep up up the great work!

    Huw

     
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    1. My Dividend Growth

      Huw,

      Things are going really well over here. It’s been a fast month knowing I get to travel back home at the end of the year to see my family that I miss so much, thanks for asking! I trust you’re almost fully recovered from your surgery and have your well being in my thoughts. I really hope you guys get a commission free solution like Loyal3 over there at some point because it’s really fun to play with. It’s too bad they’re taking away those credit card rewards because they were amazing while they lasted. The only downsides are the limited options of investments with this brokerage and out of the 60 or so companies, I found UL to be one of the better ones that wasn’t ridiculously over valued. Keep up your awesome savings and investments and finish this year strong!

      Have a great week my friend!
      ~Ryan

       
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  4. Dividend Gremlin

    Ryan,

    Good move. I’ve been doing the same thing and set up some credit card monthly buys for next month. I plan to set up a few more to see if I can take advantage of the ‘monthly buy’ option with a credit card through early December. Its a bummer they canceled it, and it will probably mean that I will slow down purchases on L3, but in the mean time I am right there with you. Still it was going to happen, just hoped it would last 1 more year.

    I added to every position I had there to take advantage of the points back. I bought AAPL, DIS, MSFT, KO, K, TGT, DPS, PEP, VFC and MCD along with UL. Small increases across the board and only about $600 in new funds, but its nice to be able to grow so many positions at once.

    – Gremlin

     
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    1. My Dividend Growth

      Dividend Gremlin,

      That’s a fantastic plan you have to take advantage of those CC rewards until the last possible second! You’ve set up some amazing diversity into some great companies and there’s no reason to stop after the CC rewards are finished because you can’t beat no commissions and being able to invest into fractional shares. I only recently opened this account, so I’m feeling the pain with you on the sudden change. Oh well, it was great while it lasted. Keep up that fantastic work and it makes me happy to hear you’re putting some serious capital away, I always enjoy hearing from you!

      Keep at it!
      ~Ryan

       
      Reply
  5. My Dividend Pipeline

    Ryan,

    Great job taking advantage of the credit card purchases while you could. I too am starting to look at UL. I have been focusing on energy for the past couple of months, but going forward I plan on adding to some non energy positions.

    Keep up the great work!

    MDP

     
    Reply
    1. My Dividend Growth

      MDP,

      It’s back to pumping up my Sharebuilder account along side you. I really wish I wouldn’t have cancelled the automatic investments there because I would have had no reason to start this Loyal3 account if I were grandfathered into that deal like you are! Oh well, there is still great opportunity to be had out there by simply investing in great companies regardless of how we do it 🙂 I’ve been really enjoying watching where you’re putting that capital and can’t wait to see where you dig into next. You are doing an amazing job!

      Best Wishes,
      Ryan

       
      Reply
  6. JC @ Passive-Income-Pursuit

    I made quite a few purchases last week through L3 to try and take advantage of the cash back opportunity. Ive still got some more that will go through via the credit card because I made sure to set up monthly purchases for all the positions. It’ll be sad to see the credit card purchases go away but L3 is still a great platform.

     
    Reply
    1. My Dividend Growth

      JC,

      Nice job with those purchases, glad to see you jumping on them while you still can even while you’re saving more cash than usual due to life events! I can’t believe it’s getting so close to the due date and I’ve kept you at the front of my mind sending all sorts of good vibes your way. I’m excited to see how fast the transactions will go through when my Loyal3 is already funded from the bank account. It’ll be easy to set that on autopilot for $50 or $100 a month and slowly roll into some positions. I’m excited to watch your last CC reward batch go through pretty quickly here. Keep up that awesome work!

      Wishing you the best!
      ~Ryan

       
      Reply
  7. Special Agent Dividend

    Good pickup of UL. I started adding it last week in my Loyal3 account and put in some more buys this week to take advantage of the credit card rewards until they are gone. I hate to see the credit card option go away, as I think they should have simply placed a few limits on it to hamper the ones that were truly gaming it. Oh well, I’ll continue using it for the time being and see how it goes.

     
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    1. My Dividend Growth

      SAD,

      Glad we can grow together with this company! Way to put that money to great work, and I think we’ll be very happy with this business in the long term. I feel your frustrations with L3, and I’m trying to stay positive and remember that no commissions and the ability to invest into fractional shares are definitely going to keep me coming back, just not as frequently. I also hope they’re able to keep adding more companies to their small list. That could easily make up for the change in the credit card policy to me as well. It’s great to know there are others like yourself with this brokerage to ease my mind on any big moves they make!

      Best Wishes,
      Ryan

       
      Reply
  8. Roadmap2Retire

    Great purchase, Ryan. I have UL near the top of my list of companies to invest in. Ive missed this boat for a while now and wish I had the capital to invest and pick up some shares.

    Too bad the Loyal3 credit card program is ending. Glad to see you leverage it one last time before the termination.

    Best wishes
    R2R

     
    Reply
    1. My Dividend Growth

      Thank you R2R! I’ll be interested to see if you ever hop aboard UL, I love the yield and solid collection of profitable brands that I use personally. Regarding L3, some things are too good to be true, and these sort of brokerages have come and gone in the past. Here’s hoping they’re able to keep it worth us coming back. If they do, I’d love to see them become available to you in Canada! I very much appreciate all the support you’ve given me!

      Best Regards,
      Ryan

       
      Reply
  9. David

    Congratulation on the purchased. I like the passive income of $3.67. With your continuous investing into new purchases, i believe the passive income will continue to grow! Keep pressing….

     
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    1. My Dividend Growth

      David,

      It’s pretty fun to calculate that forward income on a daily basis to see where I’m at. I’m definitely committed to this strategy and the frugal lifestyle, so you can bet that’ll continue to grow 🙂 I’m hoping you’ll be growing steadily right along with me, keep up that great work!

      Best,
      Ryan

       
      Reply
    1. My Dividend Growth

      Thank you DGJ 🙂 I’m wanting to add more as well, so we’ll be looking for that dip together. I’m very curious to see how long transactions take in my L3 account when I’ve already got transferred funds. UL will likely be my experiment purchase. You’ve been making excellent progress over there, so keep at it!

      Best,
      Ryan

       
      Reply
  10. Dividend Mantra

    Ryan,

    Nice move here. I’ve been aggressively adding to UL myself. I think I’m going to buy another lot of shares next month, capital dependent. I’d like to get that position up to 100 shares and go from there. Great company, great brands, great history, great geographical exposure.

    Keep up the great work!

    Best regards.

     
    Reply
    1. My Dividend Growth

      Jason,

      I’m following your footsteps in this company because there’s nothing I don’t like about it in the long term. I love their great products that clearly aren’t going anywhere. I’m anxious to see what they’ll acquire next to add to those excellent brands. Getting to 100 shares would be amazing for your portfolio, that would balance it perfectly with your current value of PG. That’s looking like your next KO / PEP type combo!

      Best Wishes,
      Ryan

       
      Reply
  11. walletengineers

    I am a bit sad to see the credit card portion go. It was a nice tool for the savvy folks around here to use. I was actually looking to double-dip by getting credit card sign-up bonuses and spending via Loyal3 to receive said bonuses.

    Also, agreed with Dividend Mantra on your choice.
    Even if the graphs are made through a website, they’re nice.

    Wallet Engineer

     
    Reply
    1. My Dividend Growth

      WE,

      Sounds like we had similar plans with those sign up bonuses, I had only just begun the L3 adventure when I heard of them ceasing it. Can’t win em’ all, hopefully you can still get those sign up rewards on some other frugal purchases 🙂 I appreciate you swinging by, great to hear from you!

      Best Wishes,
      Ryan

       
      Reply
  12. Tawcan

    Great addition, I’d love to add UL myself as well but do not have enough free capitals in the RRSP account. It’s too bad you can’t use credit card with Loyal3 anymore but I guess everyone expected Loyal3 to take away that option sooner or later.

     
    Reply
    1. My Dividend Growth

      Tawcan,

      Thank you very much, I’ll hope this stock stays at a reasonable value for a good amount of time so you can hop on eventually. I really want to join you in your recent purchase of BNS, it would be great for my tax sheltered account. Also, your lack of RRSP capital is such a positive in that you’ve already deployed what you could. Some people don’t even do that so congrats on the constant saving and investing! You’re killing it this year, setting new records all the time so keep up that great work! Thanks for the comment!

      Best Wishes,
      Ryan

       
      Reply

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