moneywise3 wrote:My strategy is my time is for loving my family. Not wasting my time on slick deals. I will always have enough for everything I would ever want. Those who "save" more money, end up paying it as taxes or to charity. I am up for debate if anyone wants to challenge that. Its an open invitation!
To each their own.
You don't pay taxes on credit card rewards.
I find that the "game" is kinda fun and a cool challenge to figure out how to get the most we can out of it while spending $ we would just be spending anyway. I don't feel like it takes any time whatsoever away from loving my family lol.
moneywise3 wrote:My strategy is my time is for loving my family. Not wasting my time on slick deals. I will always have enough for everything I would ever want. Those who "save" more money, end up paying it as taxes or to charity. I am up for debate if anyone wants to challenge that. Its an open invitation!
I agree that credit card rewards are a hobby rather than a serious part of financial stewardship, though cash back cards perhaps should not be ignored. For most people in this country not carrying credit card debt is a serious part of financial stewardship.
I don't understand you comment about taxes or charity, though.
moneywise3 wrote:My strategy is my time is for loving my family. Not wasting my time on slick deals. I will always have enough for everything I would ever want. Those who "save" more money, end up paying it as taxes or to charity. I am up for debate if anyone wants to challenge that. Its an open invitation!
What's to debate? Everyone should do what they want or is in their best interests.
I have been using AMEX Blue Cash Card for quite a number of years. Just received a letter from AMEX stating that my Blue Cash card will be discontinued and I will receive the Blue Cash Everyday Card which offer cash back on purchases of 3% in US supermarkets, 2% US gas stations, 2% US department stores and 1% on other purchases. If I spend $1,000 in first 3 months, I will also receive $100 credit. Also no annual fee.
So far I think this is a good deal unless someone thinks otherwise.
moneywise3 wrote:My strategy is my time is for loving my family. Not wasting my time on slick deals. I will always have enough for everything I would ever want. Those who "save" more money, end up paying it as taxes or to charity. I am up for debate if anyone wants to challenge that. Its an open invitation!
Everybody has hobbies/things they do for enjoyment. Some people play in a band. Others have season tickets to their favorite sports team. Others enjoy reading. Some people derive pleasure from running marathons.
giesen5 wrote:Any good sign-ups out there right now? Or rumors of ones that are coming up?
drofcredit just tweeted that Chase might be coming up with a competitor to the Citi Prestige. It will be in their Sapphire line with similar AF and perk schedule. 3x points for Ultimate Rewards would be great! I'll be curious to see if they partner with an airline lounge too.
Almost there wrote:I have been using AMEX Blue Cash Card for quite a number of years. Just received a letter from AMEX stating that my Blue Cash card will be discontinued and I will receive the Blue Cash Everyday Card which offer cash back on purchases of 3% in US supermarkets, 2% US gas stations, 2% US department stores and 1% on other purchases. If I spend $1,000 in first 3 months, I will also receive $100 credit. Also no annual fee.
So far I think this is a good deal unless someone thinks otherwise.
Almost there
Personally I'd spend the $1,000 and then only use it at supermarkets after that. You can get a no annual fee 2% cash back card to use for everything else.
Just reaped the rewards of starting the rewards game in January. Just "purchased" the first leg of our 2017 Italy trip. Used 120,000 UR miles to get 4 one-way tickets to Italy. It did cost me $156 in fees, but at retail the tickets cost $8,316. Not bad for some late nights researching points and reading message boards like this one. It does work!
moneywise3 wrote:My strategy is my time is for loving my family. Not wasting my time on slick deals. I will always have enough for everything I would ever want. Those who "save" more money, end up paying it as taxes or to charity. I am up for debate if anyone wants to challenge that. Its an open invitation!
I think over the last 10 years, I had applied and received 5 cards each with 50,000-mile bonus, and used the mileage to get about 10 round trip tickets. Not too bad for just a few minutes of work on each card.
travellight wrote:Citi prestige just announced no more AA Admirals club access.
May not be in effect till 7/23/17 though
They're changing a lot including how the 4th free night is calculated, no more complimentary golf, lower redemption rate on points, etc. No change to the annual fee though.
My strategy is very simple: use the Citi Double Cash card most of the time, and cherry-pick signup bonuses of large chunks of frequent-flyer miles, concentrating on Southwest Airlines (so switch to whatever new card, for just long enough to qualify for the signup bonus). I could probably optimize cashback a little better than 2%, for example the Penfed VISA's 5% on gasoline (or whatever it is). But it doesn't seem worth the trouble to me; whatever time and energy I'm going to invest is aimed towards flying for free - and I half-jokingly say that only suckers actually pay for their airline tickets.
giesen5 wrote:Just reaped the rewards of starting the rewards game in January. Just "purchased" the first leg of our 2017 Italy trip. Used 120,000 UR miles to get 4 one-way tickets to Italy. It did cost me $156 in fees, but at retail the tickets cost $8,316. Not bad for some late nights researching points and reading message boards like this one. It does work!
The real question is, what's it going to cost you to get back home?
I think I've tapped out the cash rewards cards for now. There's a couple AMEX cards that have nice bonuses but I've already got a few and now when I attempt to get the offers I get a message saying something along the lines of "you are already an American Express customer and do not qualify". And Chase has the 5/24 rule so the last couple I tried I got turned down.
Back to the Fidelity Visa and Sallie Mae cards for now
“If you think nobody cares if you're alive, try missing a couple of car payments.” – Earl Wilson
letsgobobby wrote:I've been using our Costco Citi Visa quite a bit. The only place it doesn't do well is with gas, so I'm using my BOA Cash Rewards card there, or paying cash somewhere where cash is cheapest.
Costco Citi Visa is 4% on Gas up to a limit of $7000 spent in category per year. While there are better deals out there, this does seem quite good?
If you have opened or closed any ThankYou points card, AA card, Expedia card, or Hilton card in the last 24 months you can't get the bonus on a new card from the same family.
Last edited by ChiefIlliniwek on Fri Aug 12, 2016 11:03 am, edited 1 time in total.
^
Thanks. I'm out on any of those now too. I opened a Citi Thank you premiere card in my name and my wife's to get the $500 bonus on each card. We used those for Home Depot cards and finished one half of our basement.
“If you think nobody cares if you're alive, try missing a couple of car payments.” – Earl Wilson
My previous post was about Ecuador and Peru, well, that is off the table because of my wife's fear of Zika. Completely understand.
So now we are back on for Italy next summer. Unfortunately I pulled the trigger on the Chase British Airways card. Oh well. Here is what we have between my wife and I so far, all this year (just started this January):
Chase Sapphire (2): UR for airfare Chase Freedom (2): UR for airfare Chase United (2): for airfare Chase Freedom Unlimited: UR for airfare Chase IHG: for limited hotel stays (maybe not for Italy) Chase British Airways: not sure yet AMEX Hilton: for limited hotel stays (maybe not for Italy Barclay Arrival Plus (2): for travel reimbursements (air bnb) Capital One Venture: for travel reimbursements (air bnb)
Since I started late and did some research, I was able to hit the Chase cards early and often. Now it looks like I am out of the game, unless I apply for business cards.
Hope your credit card reward gaming is going well!
Hi giesen5, I live in Bellingham, WA as well! Have you gone on your trip yet? Is there anyway to contact you about what MS options you are using in Bellingham? I'm just getting started reading through everything.
p.s. I went to Peru last year and it's definitely a destination you will have to keep on your list for down the road
Thanks!
SRenaeP wrote:I'm excited about the Chase Sapphire Reserve that's supposed to go live next week. I'm just hoping the 5/24 rule doesn't hit me.
-Steph
Wow. That card looks amazing!
$300 annual travel credit plus $100 discount on domestic round trip airfare (when booking 2 or more tickets on 1 reservation) will more than offset that $450 annual fee in our household.
Not to mention 100k signup bonus. Awesome.
I just got the Sapphire Preferred in May, but will likely drop that and pick this one up instead at some point.
EDIT: There is also some data out there saying this isn't subject to the 5/24 rule. At least not yet...
Last edited by guitarguy on Tue Aug 16, 2016 12:48 pm, edited 1 time in total.
SRenaeP wrote:I'm excited about the Chase Sapphire Reserve that's supposed to go live next week. I'm just hoping the 5/24 rule doesn't hit me.
-Steph
Wow. That card looks amazing!
$300 annual travel credit plus $100 discount on domestic round trip airfare (when booking 2 or more tickets on 1 reservation) will more than offset that $450 annual fee in our household.
Not to mention 100k signup bonus. Awesome.
I just got the Sapphire Preferred in May, but will likely drop that and pick this one up instead at some point.
Super exciting card! It's almost a no brainer to get. What are the restrictions on the $100? That would offset the remaining $150 fee after just two uses! Seems too good to be true.
SRenaeP wrote:I'm excited about the Chase Sapphire Reserve that's supposed to go live next week. I'm just hoping the 5/24 rule doesn't hit me.
-Steph
Wow. That card looks amazing!
$300 annual travel credit plus $100 discount on domestic round trip airfare (when booking 2 or more tickets on 1 reservation) will more than offset that $450 annual fee in our household.
Not to mention 100k signup bonus. Awesome.
I just got the Sapphire Preferred in May, but will likely drop that and pick this one up instead at some point.
Super exciting card! It's almost a no brainer to get. What are the restrictions on the $100? That would offset the remaining $150 fee after just two uses! Seems too good to be true.
I'm not sure of restrictions. IIRC, Doctor of Credit had a few screenshots of the top level info. Global Entry is covered so that will offset as well for anyone who doesn't have it yet.
If approved, I probably will not renew for a second year. In that scenario, I will have paid $450 to receive $600 of travel credit ($300 for 2015 and $300 for 2016). That's already $150 ahead without taking into account the value of however you redeem the sign on bonus (my guess would be $750-1000 vs the $1500 I've seen tossed around).
moneywise3 wrote:My strategy is my time is for loving my family. Not wasting my time on slick deals. I will always have enough for everything I would ever want. Those who "save" more money, end up paying it as taxes or to charity. I am up for debate if anyone wants to challenge that. Its an open invitation!
OK I accept your invitation to debate.
I believe this is a false dilemma since I have both rewards cards and I also spend ample time "loving my family". And none of my rewards are taxed or go to charity.
SRenaeP wrote:I'm excited about the Chase Sapphire Reserve that's supposed to go live next week. I'm just hoping the 5/24 rule doesn't hit me.
-Steph
Wow. That card looks amazing!
$300 annual travel credit plus $100 discount on domestic round trip airfare (when booking 2 or more tickets on 1 reservation) will more than offset that $450 annual fee in our household.
Not to mention 100k signup bonus. Awesome.
I just got the Sapphire Preferred in May, but will likely drop that and pick this one up instead at some point.
Super exciting card! It's almost a no brainer to get. What are the restrictions on the $100? That would offset the remaining $150 fee after just two uses! Seems too good to be true.
I'm not sure of restrictions. IIRC, Doctor of Credit had a few screenshots of the top level info. Global Entry is covered so that will offset as well for anyone who doesn't have it yet.
If approved, I probably will not renew for a second year. In that scenario, I will have paid $450 to receive $600 of travel credit ($300 for 2015 and $300 for 2016). That's already $150 ahead without taking into account the value of however you redeem the sign on bonus (my guess would be $750-1000 vs the $1500 I've seen tossed around).
-Steph
I disagree on the value of the 100k points. Even if you just use the UR portal to book your travel it's worth $1250...and if you do the absolute bare minimum just take cash it's worth $1000.
Transferring the points into miles will more than likely get over $1250 no problem. I've recently booked 3 flights by transferring points into Southwest miles and I've got an average of 1.82 cpp...so from my experience that 100k is worth about $1800 give or take.
moneywise3 wrote:My strategy is my time is for loving my family. Not wasting my time on slick deals. I will always have enough for everything I would ever want. Those who "save" more money, end up paying it as taxes or to charity. I am up for debate if anyone wants to challenge that. Its an open invitation!
OK I accept your invitation to debate.
I believe this is a false dilemma since I have both rewards cards and I also spend ample time "loving my family". And none of my rewards are taxed or go to charity.
That can't possibly be true. The fact that you're spending time on this forum right now proves that you're not using your time to love your family.
SRenaeP wrote:I'm excited about the Chase Sapphire Reserve that's supposed to go live next week. I'm just hoping the 5/24 rule doesn't hit me.
-Steph
Wow. That card looks amazing!
$300 annual travel credit plus $100 discount on domestic round trip airfare (when booking 2 or more tickets on 1 reservation) will more than offset that $450 annual fee in our household.
Not to mention 100k signup bonus. Awesome.
I just got the Sapphire Preferred in May, but will likely drop that and pick this one up instead at some point.
Super exciting card! It's almost a no brainer to get. What are the restrictions on the $100? That would offset the remaining $150 fee after just two uses! Seems too good to be true.
I'm not sure of restrictions. IIRC, Doctor of Credit had a few screenshots of the top level info. Global Entry is covered so that will offset as well for anyone who doesn't have it yet.
If approved, I probably will not renew for a second year. In that scenario, I will have paid $450 to receive $600 of travel credit ($300 for 2015 and $300 for 2016). That's already $150 ahead without taking into account the value of however you redeem the sign on bonus (my guess would be $750-1000 vs the $1500 I've seen tossed around).
-Steph
I disagree on the value of the 100k points. Even if you just use the UR portal to book your travel it's worth $1250...and if you do the absolute bare minimum just take cash it's worth $1000.
Transferring the points into miles will more than likely get over $1250 no problem. I've recently booked 3 flights by transferring points into Southwest miles and I've got an average of 1.82 cpp...so from my experience that 100k is worth about $1800 give or take.
I think we're in violent agreement. We agree it's a very good deal. How good of a deal? Debatable but still worth the effort. I don't like Southwest so I'll probably end up getting 'only' $1200 of benefit vs the $1800 you'll get. Nice problem to have either way.
I've been doing the credit card rewards game for 2 years now, since becoming a one-income household and needing to make vacations more affordable. In that time, we've used points for 5 nights in a luxury Paris hotel, flights to/from Charleston, SC and 5 nights in a Hyatt, and flights to/from Rome and 3 nights in a hotel. We still have $5k worth of points available and 800 credit scores. I'll probably slow down a bit with the Chase 5/24 rule and a possible home purchase down the line, but it's been great so far.
“The strong cannot be brave. Only the weak can be brave; and yet again, in practice, only those who can be brave can be trusted, in time of doubt, to be strong.“ - GK Chesterton
jay22 wrote:Isn't the Sapphire Reserve only for business customers?
Sounds like it's actually only for personal customers right now, but so much of what I've read is uncertain. There will be lots more info on 8/21. I believe DW and I each have one more card before 5/24 kicks in. I was literally dilly-dallying on the Chase Ink Plus page this morning debating whether to sign up. I'm so glad my procrastination seems to have paid off this time!
I've got a hotel stay in September that will help nicely toward the bonus spend requirement, and also qualify for the $300 statement credit right away. I probably won't keep the card for more than one year, like SRenaeP said above.
“The strong cannot be brave. Only the weak can be brave; and yet again, in practice, only those who can be brave can be trusted, in time of doubt, to be strong.“ - GK Chesterton
dsmil wrote:I've been doing the credit card rewards game for 2 years now, since becoming a one-income household and needing to make vacations more affordable. In that time, we've used points for 5 nights in a luxury Paris hotel, flights to/from Charleston, SC and 5 nights in a Hyatt, and flights to/from Rome and 3 nights in a hotel. We still have $5k worth of points available and 800 credit scores. I'll probably slow down a bit with the Chase 5/24 rule and a possible home purchase down the line, but it's been great so far.
Damn that's nice to take advantage of those perks!
And it doesn't require a lot of work at all. Takes 3 minutes to fill out a Credit Card application and waiting 60 seconds for approval. And then when you pay for stuff - you just simply use the rewards credit card since most people pay with cards anyways for most things.
Do you hang onto your rewards cards or after you're done with them you close a few of them down?
SURGEON GENERAL'S WARNING: Any overconfidence in your investing ability, willingness and need to take risk may be hazardous to your health.
moneywise3 wrote:My strategy is my time is for loving my family. Not wasting my time on slick deals. I will always have enough for everything I would ever want. Those who "save" more money, end up paying it as taxes or to charity. I am up for debate if anyone wants to challenge that. Its an open invitation!
Everybody has hobbies/things they do for enjoyment. Some people play in a band. Others have season tickets to their favorite sports team. Others enjoy reading. Some people derive pleasure from running marathons.
I enjoy finding deals and working the system!
I totally agree. I don't need the money but I enjoy the hunt for the deal. I find that I am more excited by bonuses, upgrades and other special deals than I am my paycheck at work. Lol. It's a hobby and it's fun. That reminds me I have not visited flyertalk in a week. I better go scrounge around for some new deals!
I have been reading far too much on the Chase Sapphire Reserve since I am considering it myself:
* Ultimate Rewards Points will be rewarded on the UR Portal: 1.5 points = 1 point as opposed to the Chase Sapphire Preferred, which is 1.25 points = 1 point when using points.
* 3% back on Dining and Travel as opposed to 2% on each with the Sapphire Preferred.
* The 100% per trip benefit is a Visa Infinite benefit, not a Chase Sapphire Reserve benefit. It was confirmed that this will not apply on the CSR.
* $300, seemingly per calendar year, to be used towards travel. This being a partial year, you could score twice here. One in 2016, one in 2017.
CSR looks like a great card. Using the $300 travel reimbursement in 2016 and 2017 alone will net +$150 over the annual fee. The 100k UR points and the $100 discount on round trip flights are just gravy on top. Not too mention all of the other perks. Can't wait!
HopefulMNSportsFan wrote:CSR looks like a great card. Using the $300 travel reimbursement in 2016 and 2017 alone will net +$150 over the annual fee. The 100k UR points and the $100 discount on round trip flights are just gravy on top. Not too mention all of the other perks. Can't wait!
The $100 discount on round trip flights has been debunked. It is a Visa Infinite benefit, but it will not be a CSR benefit. The Points Guy updated his post to note that the $100 discount will not apply.
HopefulMNSportsFan wrote:CSR looks like a great card. Using the $300 travel reimbursement in 2016 and 2017 alone will net +$150 over the annual fee. The 100k UR points and the $100 discount on round trip flights are just gravy on top. Not too mention all of the other perks. Can't wait!
The $100 discount on round trip flights has been debunked. It is a Visa Infinite benefit, but it will not be a CSR benefit. The Points Guy updated his post to note that the $100 discount will not apply.
This is a great card. If it that $100 discount it would be the best card available. We will be getting one for sure and most likely two when it comes out on the 21st
HopefulMNSportsFan wrote:CSR looks like a great card. Using the $300 travel reimbursement in 2016 and 2017 alone will net +$150 over the annual fee. The 100k UR points and the $100 discount on round trip flights are just gravy on top. Not too mention all of the other perks. Can't wait!
The $100 discount on round trip flights has been debunked. It is a Visa Infinite benefit, but it will not be a CSR benefit. The Points Guy updated his post to note that the $100 discount will not apply.
That's pretty disappointing that they're not giving Visa Infinite benefits on this card, even though the CSR says VIsa Infinite right on the front of it.
I use the Southwest Airlines Visa card. I pay my son's college tuition on it. I live in New York, he studies in Florida. I have not "paid" for a flight for him to come home yet. Too bad my daughter's school charged a 3% surcharge! I would have a lifetime of miles!
tony44 wrote:I use the Southwest Airlines Visa card. I pay my son's college tuition on it. I live in New York, he studies in Florida. I have not "paid" for a flight for him to come home yet. Too bad my daughter's school charged a 3% surcharge! I would have a lifetime of miles!
I ran into this too...I paid the first half of my grad school tuition on credit cards, and then they decided to start asking for the fee.
how do you guys decide to use points vs cash back cards? Both of us uses a CSP and we have over 100K points each, but never used. Not sure how to use them! Debating if I should get the CSR - also thinking of the fido 2% cash back. We try to use Amex for 6% grocery and Penfed for 5% gas back
Gemini wrote:how do you guys decide to use points vs cash back cards? Both of us uses a CSP and we have over 100K points each, but never used. Not sure how to use them! Debating if I should get the CSR - also thinking of the fido 2% cash back. We try to use Amex for 6% grocery and Penfed for 5% gas back
The more I look around investment options, the more I gravitate towards one simple index fund of funds.
The more I look around CC reward options, the more I gravitate towards one simple 2% cashback credit card.
"Buy-and-hold, long-term, all-market-index strategies, implemented at rock-bottom cost, are the surest of all routes to the accumulation of wealth" - John C. Bogle