What's Your Credit Card Rewards Strategy?

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TravelforFun
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Re: What's Your Credit Card Rewards Strategy?

Post by TravelforFun » Thu Nov 01, 2018 3:12 pm

geospatial wrote:
Thu Nov 01, 2018 11:40 am
And if they do count, it looks like you'd need the extra 10,000 points to reach companion pass status, but they state that each $10000 in spending yields only $1500 in tier-qualifying points. So does that mean you'd need to spend an additional $70,000+ to reach it? Or is Companion Pass status independent of the other tier-qualifying statuses in terms of how to achieve them?
I need to spend $3k to get the 60k points on my SW business card, another $3k to get the 40k points on my SW personal card within the first 3 months, and that would give me 106k points. Then I would need to spend another $4k on either card to reach 110k points.

TravelforFun

guitarguy
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Re: What's Your Credit Card Rewards Strategy?

Post by guitarguy » Thu Nov 01, 2018 4:22 pm

Guys and Gals,

I've been away from the BH forum for a while...a few months at least.

I'm amazed to see this thread that peaked my interest in 2016 still chugging along!!!!!

Also, DW and I just nabbed Delta Gold Amex cards...60k miles each for $3k spend in 3 months. Already nabbed the reward for one of them.

We still don't MS and only apply for a couple new cards each per year...but it still really is so easy...isn't it? 8-)

agilesheltz
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Location: ATX

Re: What's Your Credit Card Rewards Strategy?

Post by agilesheltz » Thu Nov 01, 2018 4:47 pm

guitarguy wrote:
Thu Nov 01, 2018 4:22 pm
We still don't MS and only apply for a couple new cards each per year...but it still really is so easy...isn't it? 8-)
MS?

Freefun
Posts: 389
Joined: Sun Jan 14, 2018 3:55 pm

Re: What's Your Credit Card Rewards Strategy?

Post by Freefun » Thu Nov 01, 2018 4:49 pm

agilesheltz wrote:
Thu Nov 01, 2018 4:47 pm
guitarguy wrote:
Thu Nov 01, 2018 4:22 pm
We still don't MS and only apply for a couple new cards each per year...but it still really is so easy...isn't it? 8-)
MS?
Manufactured Spend
Remember when you wanted what you currently have?

SlowMovingInvestor
Posts: 916
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Re: What's Your Credit Card Rewards Strategy?

Post by SlowMovingInvestor » Thu Nov 01, 2018 6:51 pm

protagonist wrote:
Thu Nov 01, 2018 10:48 am

You should think twice about canceling cards that don't charge an annual fee.
A longer credit history contributes to a higher credit score. Another factor is percent utilization- the less of your total credit limit that you use per month, the higher your score.
The effects are relatively small, but if there is no good reason to cancel (eg: being denied a new card because you have too much credit already), there is no point in canceling.
The more credit cards you have, the more to manage, even no annual fee cards. If it's with a provider you don't use much, you need to keep that login/password intact too, check it in credit reports etc., watch out for unauthorized charges. I generally cancel cards that I haven't used for a while.

SlowMovingInvestor
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Re: What's Your Credit Card Rewards Strategy?

Post by SlowMovingInvestor » Thu Nov 01, 2018 6:58 pm

Jags4186 wrote:
Thu Nov 01, 2018 10:32 am
You should be thinking beyond just the straight cashback %. You need to calculate the value of Citi's industry leading purchase protections.

Price Rewind
2 year extended warranty
Return protection
Purchase protection

Brand name clothing (especially shoes!!!!!!), Home Depot/Lowes purchases, Amazon purchases, appliances, etc. all go on Citi branded cards for the warranty coverage and the Price Rewind. You will almost always get successful price rewinds on these types of items that will far outweigh the 0.62% extra cashback BOA will give you.
I really don't have any CitiCards right now -- but these benefits certainly sound interesting. I don't buy brand name clothing or the like, but appliances, or items from home improvement stores -- I certainly do buy those. How does Citi compare with Amex or Chase Ink for warranties ?

Jags4186
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Re: What's Your Credit Card Rewards Strategy?

Post by Jags4186 » Thu Nov 01, 2018 7:08 pm

SlowMovingInvestor wrote:
Thu Nov 01, 2018 6:58 pm
Jags4186 wrote:
Thu Nov 01, 2018 10:32 am
You should be thinking beyond just the straight cashback %. You need to calculate the value of Citi's industry leading purchase protections.

Price Rewind
2 year extended warranty
Return protection
Purchase protection

Brand name clothing (especially shoes!!!!!!), Home Depot/Lowes purchases, Amazon purchases, appliances, etc. all go on Citi branded cards for the warranty coverage and the Price Rewind. You will almost always get successful price rewinds on these types of items that will far outweigh the 0.62% extra cashback BOA will give you.
I really don't have any CitiCards right now -- but these benefits certainly sound interesting. I don't buy brand name clothing or the like, but appliances, or items from home improvement stores -- I certainly do buy those. How does Citi compare with Amex or Chase Ink for warranties ?
Citi is industry leading in its purchase protections offered. I’ve only ever used the Price Rewind feature and it’s all automated...you do not need to speak to anyone. I can’t say how easy it is to put in a extended warranty claim.

AMEX issued AMEX cards benefits aren’t quite as good (for example they double warranties up to 2 years whereas Citi gives 2 extra years), and doesn’t offer price protection, but they have always been very easy to deal with on purchase protection issues.

Chase doesn’t offer price protection or return protection and only offers 1 year extended warranty. My one claim with them was resolved but took a lot of back and forth.

ResearchMed
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Re: What's Your Credit Card Rewards Strategy?

Post by ResearchMed » Thu Nov 01, 2018 7:10 pm

Jags4186 wrote:
Thu Nov 01, 2018 7:08 pm
SlowMovingInvestor wrote:
Thu Nov 01, 2018 6:58 pm
Jags4186 wrote:
Thu Nov 01, 2018 10:32 am
You should be thinking beyond just the straight cashback %. You need to calculate the value of Citi's industry leading purchase protections.

Price Rewind
2 year extended warranty
Return protection
Purchase protection

Brand name clothing (especially shoes!!!!!!), Home Depot/Lowes purchases, Amazon purchases, appliances, etc. all go on Citi branded cards for the warranty coverage and the Price Rewind. You will almost always get successful price rewinds on these types of items that will far outweigh the 0.62% extra cashback BOA will give you.
I really don't have any CitiCards right now -- but these benefits certainly sound interesting. I don't buy brand name clothing or the like, but appliances, or items from home improvement stores -- I certainly do buy those. How does Citi compare with Amex or Chase Ink for warranties ?
Citi is industry leading in its purchase protections offered. I’ve only ever used the Price Rewind feature and it’s all automated...you do not need to speak to anyone. I can’t say how easy it is to put in a extended warranty claim.

AMEX issued AMEX cards benefits aren’t quite as good (for example they double warranties up to 2 years whereas Citi gives 2 extra years), and doesn’t offer price protection, but they have always been very easy to deal with on purchase protection issues.

Chase doesn’t offer price protection or return protection and only offers 1 year extended warranty. My one claim with them was resolved but took a lot of back and forth.
How does the Citi Price Protection work? And what do you mean that it's "automated"?

Thanks!

RM
This signature is a placebo. You are in the control group.

Jags4186
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Re: What's Your Credit Card Rewards Strategy?

Post by Jags4186 » Thu Nov 01, 2018 7:17 pm

ResearchMed wrote:
Thu Nov 01, 2018 7:10 pm
Jags4186 wrote:
Thu Nov 01, 2018 7:08 pm
SlowMovingInvestor wrote:
Thu Nov 01, 2018 6:58 pm
Jags4186 wrote:
Thu Nov 01, 2018 10:32 am
You should be thinking beyond just the straight cashback %. You need to calculate the value of Citi's industry leading purchase protections.

Price Rewind
2 year extended warranty
Return protection
Purchase protection

Brand name clothing (especially shoes!!!!!!), Home Depot/Lowes purchases, Amazon purchases, appliances, etc. all go on Citi branded cards for the warranty coverage and the Price Rewind. You will almost always get successful price rewinds on these types of items that will far outweigh the 0.62% extra cashback BOA will give you.
I really don't have any CitiCards right now -- but these benefits certainly sound interesting. I don't buy brand name clothing or the like, but appliances, or items from home improvement stores -- I certainly do buy those. How does Citi compare with Amex or Chase Ink for warranties ?
Citi is industry leading in its purchase protections offered. I’ve only ever used the Price Rewind feature and it’s all automated...you do not need to speak to anyone. I can’t say how easy it is to put in a extended warranty claim.

AMEX issued AMEX cards benefits aren’t quite as good (for example they double warranties up to 2 years whereas Citi gives 2 extra years), and doesn’t offer price protection, but they have always been very easy to deal with on purchase protection issues.

Chase doesn’t offer price protection or return protection and only offers 1 year extended warranty. My one claim with them was resolved but took a lot of back and forth.
How does the Citi Price Protection work? And what do you mean that it's "automated"?

Thanks!

RM
You go to Citis website, tell it what you bought, upload your receipt, and then it will look for 60 days online for lower prices. If it finds a lower price anywhere it will automatically refund you the difference. If you find something on your own you can manually submit a claim but I usually just let the system do the work.

Shoes are usually the biggest winner in my experience. What generally happens is I buy a regular ol pair of black or brown shoes, size 11. It searches and finds a website that has the same style shoe but the only instock item is with rhinestones and size 6 for 70% less. Citi’s system isn’t smart enough to recognize this and gives you the discount.

SlowMovingInvestor
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Re: What's Your Credit Card Rewards Strategy?

Post by SlowMovingInvestor » Thu Nov 01, 2018 7:46 pm

I was thinking of cancelling my oldest Amex Card (I have several others) -- I haven't used it in years. Amex says I've been a cardmember with them for 20+ years (because of that card), and they always greet with me with 'Thank you for being a loyal customer for n years"

Would cancelling my oldest card have any negative in terms of Amex recognizing me as an old customer etc. -- i.e. would they use my currently operational oldest card to determine how long I've been a customer with them ?

ResearchMed
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Re: What's Your Credit Card Rewards Strategy?

Post by ResearchMed » Thu Nov 01, 2018 7:52 pm

SlowMovingInvestor wrote:
Thu Nov 01, 2018 7:46 pm
I was thinking of cancelling my oldest Amex Card (I have several others) -- I haven't used it in years. Amex says I've been a cardmember with them for 20+ years (because of that card), and they always greet with me with 'Thank you for being a loyal customer for n years"

Would cancelling my oldest card have any negative in terms of Amex recognizing me as an old customer etc. -- i.e. would they use my currently operational oldest card to determine how long I've been a customer with them ?
Do you have other cards that are older than your oldest Amex card?

The more important issue is whether cancelling would affect your credit score, rather than affecting Amex's recognition.

I wasn't an Amex cardholder for several years. When I got another Amex card, my original start date was there in the "member since" field.

So it's possibly that your other Amex card might have the oldest date.
What do the other Amex cards now have as the "since" date? The oldest for all?

RM
This signature is a placebo. You are in the control group.

SlowMovingInvestor
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Re: What's Your Credit Card Rewards Strategy?

Post by SlowMovingInvestor » Thu Nov 01, 2018 7:57 pm

ResearchMed wrote:
Thu Nov 01, 2018 7:52 pm
SlowMovingInvestor wrote:
Thu Nov 01, 2018 7:46 pm
I was thinking of cancelling my oldest Amex Card (I have several others) -- I haven't used it in years. Amex says I've been a cardmember with them for 20+ years (because of that card), and they always greet with me with 'Thank you for being a loyal customer for n years"

Would cancelling my oldest card have any negative in terms of Amex recognizing me as an old customer etc. -- i.e. would they use my currently operational oldest card to determine how long I've been a customer with them ?
Do you have other cards that are older than your oldest Amex card?

The more important issue is whether cancelling would affect your credit score, rather than affecting Amex's recognition.

I wasn't an Amex cardholder for several years. When I got another Amex card, my original start date was there in the "member since" field.

So it's possibly that your other Amex card might have the oldest date.
What do the other Amex cards now have as the "since" date? The oldest for all?
I think the Amex card is the oldest card I have currently from any provider by a very significant margin -- maybe even as much as 10 years. My credit score is good enough (800+) and I have enough other cards and credit that I doubt it'll impact my credit score if I cancel this -- but then who knows what arcane formulae are used to calculate credit score ! Actually, I think I'm being convinced not to cancel this card, but look for others to cancel.

Yes, all other Amex cards have the 'oldest date' (i.e. the date of the oldest card).

lakpr
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Re: What's Your Credit Card Rewards Strategy?

Post by lakpr » Fri Nov 02, 2018 6:44 am

What you are describing is something called “backdating”, and only Amex did this. Note that Amex too stopped this practice at least 3 years ago, and if you cancel the card but apply for another Amex card later, it will NOT inherit the opening date of the oldest card.

Actually, if I were you, I will not cancel ANY of those Amex cards unless there is an annual fee due, simply because each of these cards is contributing positively to the AAoA (Average Age of Accounts) which is a significant factor in calculating FICO.

Given also that you said your Amex is by far the oldest card by at least a 10 year margin, I have no doubt that if you cancel the card there will be a FICO hit. Now whether that hit will be substantial enough to drop you below 760 (which qualifies you for the best deals) from your current 800+ score, I will have to say the probability is quite minuscule. You are more likely to see a score drop to 780+ if I were to guess.

But why would you want to do that?

lakpr
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Re: What's Your Credit Card Rewards Strategy?

Post by lakpr » Fri Nov 02, 2018 6:48 am

Also want to add; if you have any young kids who are just starting out in life on credit journey, adding them as Authorized users to these Amex cards will give them a substantial “starting advantage”. Keep those Amex cards and hang on to them for dear life!

Leesbro63
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Re: What's Your Credit Card Rewards Strategy?

Post by Leesbro63 » Fri Nov 02, 2018 11:08 am

Freefun wrote:
Thu Nov 01, 2018 4:49 pm
agilesheltz wrote:
Thu Nov 01, 2018 4:47 pm
guitarguy wrote:
Thu Nov 01, 2018 4:22 pm
We still don't MS and only apply for a couple new cards each per year...but it still really is so easy...isn't it? 8-)
MS?
Manufactured Spend
Is there still any easy/cheap manufactured spend left? I need $3000 to get the rewards on a new card. I'll get it within a few months of regular spending, but a quick bump would be good.

TravelGeek
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Re: What's Your Credit Card Rewards Strategy?

Post by TravelGeek » Fri Nov 02, 2018 11:26 am

Leesbro63 wrote:
Fri Nov 02, 2018 11:08 am
Is there still any easy/cheap manufactured spend left? I need $3000 to get the rewards on a new card. I'll get it within a few months of regular spending, but a quick bump would be good.
The MS forum on Flyertalk seems to be pretty active still (not that I follow it, so I can’t offer concrete advice). Earlier discussions here indicated that a lot of the mechanisms aren5 discussed in public anymore, though. I don’t manufacture any artificial spend, but I may pre-pay some spend I would naturally have by buying Amazon or a few other types of gift cards at a grocery store if I have a need to capture a bonus.

$3000 within three months is typically easily met with regular spend, though.

lakpr
Posts: 326
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Re: What's Your Credit Card Rewards Strategy?

Post by lakpr » Fri Nov 02, 2018 11:42 am

One quick way is to make estimated payments of taxes to IRS, and adjust the withholdings on W-4 to something like 16 or 18 for the rest of the year. Then ratchet down the exemptions back to 3 or 4 in January. It carries a 1.8% fee, but should be dwarfed by the bonus rewards on the card.

JBTX
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Re: What's Your Credit Card Rewards Strategy?

Post by JBTX » Fri Nov 09, 2018 9:02 pm

Leesbro63 wrote:
Fri Nov 02, 2018 11:08 am
Freefun wrote:
Thu Nov 01, 2018 4:49 pm
agilesheltz wrote:
Thu Nov 01, 2018 4:47 pm
guitarguy wrote:
Thu Nov 01, 2018 4:22 pm
We still don't MS and only apply for a couple new cards each per year...but it still really is so easy...isn't it? 8-)
MS?
Manufactured Spend
Is there still any easy/cheap manufactured spend left? I need $3000 to get the rewards on a new card. I'll get it within a few months of regular spending, but a quick bump would be good.
You can pay income taxes online and the fee is only 2%, far less than the larger upfront bonuses that amount to 10-15-% of upfront required spend. You may also be able to pay property tax online. I'm trying to find a good card to pay $6000 of property taxes in Dec/Jan but I've pretty much exhausted all the high bonuses. Now doing some in DW name.

Barefootgirl
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Re: What's Your Credit Card Rewards Strategy?

Post by Barefootgirl » Sat Nov 10, 2018 7:32 am

A couple of questions:


(1) I have used Chase UR points transferred to Hyatt for good redemptions. Are there are any other worthwhile hotel transfer partners that come to mind? I also have MR points and Citi TYP to use. In need of saving $$ on upcoming hotel travel, mostly stay at branded hotels.

(2) Whenever you book travel using a non-branded portal like Hotels.com, Booking. com or Priceline - which card do you use for maximum earning value?

Thanks!
How many retired people does it take to screw in a lightbulb? Only one, but he takes all day.

MikeG62
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Re: What's Your Credit Card Rewards Strategy?

Post by MikeG62 » Sat Nov 10, 2018 11:46 am

Barefootgirl wrote:
Sat Nov 10, 2018 7:32 am
A couple of questions:


(1) I have used Chase UR points transferred to Hyatt for good redemptions. Are there are any other worthwhile hotel transfer partners that come to mind? I also have MR points and Citi TYP to use. In need of saving $$ on upcoming hotel travel, mostly stay at branded hotels.

(2) Whenever you book travel using a non-branded portal like Hotels.com, Booking. com or Priceline - which card do you use for maximum earning value?

Thanks!
Best value per point in my experience so far has been Hyatt (I have gotten over 11 cents per dollar). I am also using some points for a stay at a Marriott property early next year and I am getting 8 cents per dollar spent to earn the points.

I put all my hotel spend on my Chase Sapphire Reserve card. I don't have hotel branded cards (but do have many airline branded cards and always use those for the air travel cost of our trips).
Real Knowledge Comes Only From Experience

TravelforFun
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Re: What's Your Credit Card Rewards Strategy?

Post by TravelforFun » Mon Nov 12, 2018 12:15 pm

TravelforFun wrote:
Thu Nov 01, 2018 7:16 am
Just applied for Chase SW business card with 60,000 bonus points and got approved on the spot. My next step would be to apply for a Chase SW personal card with 40,000 bonus points.

TravelforFun
Just got approved for the Southwest Plus Card, a personal card which will give me 40,000 points after I spend $1,000 in three months. With the Southwest business card and the personal card, I'm ready to charge a total of $10,000 on these two cards in January to get 110,000 points and hence, the Companion Pass for two years.

TravelforFun

sassy_penguin
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Re: What's Your Credit Card Rewards Strategy?

Post by sassy_penguin » Mon Nov 12, 2018 1:39 pm

My oldest credit card by over a decade is one from USAA. I have Netflix set to auto-bill to it, and don't use it for anything else. I figure it would be bad to lose the age of it, so I want something billing on it monthly to ensure it never gets closed for lack of use.

For its first year, I was a big fan of the World Arrival + Mastercard from Barclaycard. After the initial year of the fee waiver, I downgraded to the regular World Arrival. It gives 2% on travel-related things and restaurants and 1% on everything else. Whenever you redeem on travel, you get a 5% bonus of that redemption.

I had used that exclusively for a while, but I wanted to adjust my credit card usage as my lifestyle adjusted. I will travel and dine out quite a bit less this year, so I wanted a different "daily driver." Since restaurants and travel will still go on the World Arrival, my "other" spend will be fairly low for the year. Thus, I just opted to get the Capitol One Quicksilver. With the $150 bonus for spending just $500 in the first few months, it definitely beat out the Citi Double cash for the low amount of spend I will have exclusive of travel/dining out.

I think guaranteeing I get at least 1.5% on everything and am capped at 2.05% (travel + redemption bonus) at most is enough for me. I don't wish to manufacture spend or have an excuse to make even one extra purchase I don't definitely need.

The only thing that annoys me is the USAA card has to have $5,000 as a minimum credit limit. I'd like it to be lower, but alas...not a bad financial setup, all things considered.

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flamesabers
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Re: What's Your Credit Card Rewards Strategy?

Post by flamesabers » Mon Nov 12, 2018 4:44 pm

sassy_penguin wrote:
Mon Nov 12, 2018 1:39 pm
The only thing that annoys me is the USAA card has to have $5,000 as a minimum credit limit. I'd like it to be lower, but alas...not a bad financial setup, all things considered.
Is the $5k credit limit a requirement for the USAA card? I have an old USAA card with a $2.9k credit limit.

Otherwise you should be able to decrease your credit limit. When I log into my USAA credit cards accounts, there's a link at the bottom of the screen that says "change credit limit."

investor997
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Re: What's Your Credit Card Rewards Strategy?

Post by investor997 » Mon Nov 12, 2018 5:02 pm

TravelforFun wrote:
Mon Nov 12, 2018 12:15 pm
Just got approved for the Southwest Plus Card, a personal card which will give me 40,000 points after I spend $1,000 in three months. With the Southwest business card and the personal card, I'm ready to charge a total of $10,000 on these two cards in January to get 110,000 points and hence, the Companion Pass for two years.

TravelforFun
I'm about ready to *cancel* my Southwest Plus card. :) I'm literally about to cross the 110K point threshold for 2019's Companion Pass so there's no need for this card any longer. Frankly it has a pretty lousy earn rate. My plan is to cancel it and apply for a CSR... Or maybe apply for the CSR first, then cancel the Southwest card. Still not sure which order is best.

sassy_penguin
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Re: What's Your Credit Card Rewards Strategy?

Post by sassy_penguin » Mon Nov 12, 2018 5:25 pm

flamesabers wrote:
Mon Nov 12, 2018 4:44 pm
sassy_penguin wrote:
Mon Nov 12, 2018 1:39 pm
The only thing that annoys me is the USAA card has to have $5,000 as a minimum credit limit. I'd like it to be lower, but alas...not a bad financial setup, all things considered.
Is the $5k credit limit a requirement for the USAA card? I have an old USAA card with a $2.9k credit limit.

Otherwise you should be able to decrease your credit limit. When I log into my USAA credit cards accounts, there's a link at the bottom of the screen that says "change credit limit."
I had $7,000 and it said I could only lower to $5,000 online. I figured I'd check again ina month and see ifi could do it incrementally.

lakpr
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Re: What's Your Credit Card Rewards Strategy?

Post by lakpr » Mon Nov 12, 2018 6:01 pm

sassy_penguin wrote:
Mon Nov 12, 2018 5:25 pm
I had $7,000 and it said I could only lower to $5,000 online. I figured I'd check again ina month and see ifi could do it incrementally.
Not sure if you are already aware of it, but lowering your credit limit hurts you on FICO scores. You should be aiming to maximize the credit limit as much as you can, not lowering it.

Even if you are not in the market for any loan, you should care about your FICO scores because they affect your home/auto/life insurance rates.

28fe6
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Re: What's Your Credit Card Rewards Strategy?

Post by 28fe6 » Mon Nov 12, 2018 6:24 pm

I actually call customer service about once per year on cards I intend to keep and ask if they can increase my credit limit. They often just bump up the limit without even re-pulling my credit or anything.

sassy_penguin
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Re: What's Your Credit Card Rewards Strategy?

Post by sassy_penguin » Mon Nov 12, 2018 6:31 pm

lakpr wrote:
Mon Nov 12, 2018 6:01 pm
sassy_penguin wrote:
Mon Nov 12, 2018 5:25 pm
I had $7,000 and it said I could only lower to $5,000 online. I figured I'd check again ina month and see ifi could do it incrementally.
Not sure if you are already aware of it, but lowering your credit limit hurts you on FICO scores. You should be aiming to maximize the credit limit as much as you can, not lowering it.

Even if you are not in the market for any loan, you should care about your FICO scores because they affect your home/auto/life insurance rates.
Thanks for the tip. I knew it had some effect, but I didn't realize it was so black and white.

The good news is, the USAA limit went to $2,000 today when I changed it, but the Quicksilver credit card I got approved for today came with a surprisingly high $15,000 limit. So I won't worry too much since the net change is increasing overall credit space by 13k.

TravelforFun
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Re: What's Your Credit Card Rewards Strategy?

Post by TravelforFun » Mon Nov 12, 2018 7:17 pm

investor997 wrote:
Mon Nov 12, 2018 5:02 pm
TravelforFun wrote:
Mon Nov 12, 2018 12:15 pm
Just got approved for the Southwest Plus Card, a personal card which will give me 40,000 points after I spend $1,000 in three months. With the Southwest business card and the personal card, I'm ready to charge a total of $10,000 on these two cards in January to get 110,000 points and hence, the Companion Pass for two years.

TravelforFun
I'm about ready to *cancel* my Southwest Plus card. :) I'm literally about to cross the 110K point threshold for 2019's Companion Pass so there's no need for this card any longer. Frankly it has a pretty lousy earn rate. My plan is to cancel it and apply for a CSR... Or maybe apply for the CSR first, then cancel the Southwest card. Still not sure which order is best.
Why would you want to cancel SW when you're so close to 110k? According to The Points Guy, Companion Pass is the best perk in existence.

TravelforFun

investor997
Posts: 374
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Re: What's Your Credit Card Rewards Strategy?

Post by investor997 » Mon Nov 12, 2018 7:27 pm

TravelforFun wrote:
Mon Nov 12, 2018 7:17 pm

Why would you want to cancel SW when you're so close to 110k? According to The Points Guy, Companion Pass is the best perk in existence.

TravelforFun
I plan to cancel it *after* I hit 110K. Once the milestone is reached, the Southwest card no longer offers much value.

sco
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Re: What's Your Credit Card Rewards Strategy?

Post by sco » Mon Nov 12, 2018 8:35 pm

I get my companion passes in January so it is good for 23 months.

BeneIRA
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Re: What's Your Credit Card Rewards Strategy?

Post by BeneIRA » Mon Nov 12, 2018 8:59 pm

investor997 wrote:
Mon Nov 12, 2018 7:27 pm
TravelforFun wrote:
Mon Nov 12, 2018 7:17 pm

Why would you want to cancel SW when you're so close to 110k? According to The Points Guy, Companion Pass is the best perk in existence.

TravelforFun
I plan to cancel it *after* I hit 110K. Once the milestone is reached, the Southwest card no longer offers much value.
Call in to cancel and don't be surprised if you get a $35 statement credit which essentially makes it worth keeping for another year. I will call again in a couple of months for my Southwest cards, but if they give me statement credits, I'll keep them, if not, they'll get cancelled.

BeneIRA
Posts: 506
Joined: Sat Nov 29, 2014 8:43 pm

Re: What's Your Credit Card Rewards Strategy?

Post by BeneIRA » Mon Nov 12, 2018 9:03 pm

Barefootgirl wrote:
Sat Nov 10, 2018 7:32 am
A couple of questions:


(1) I have used Chase UR points transferred to Hyatt for good redemptions. Are there are any other worthwhile hotel transfer partners that come to mind? I also have MR points and Citi TYP to use. In need of saving $$ on upcoming hotel travel, mostly stay at branded hotels.

(2) Whenever you book travel using a non-branded portal like Hotels.com, Booking. com or Priceline - which card do you use for maximum earning value?

Thanks!
1. Hyatt is number one and it's not even close as far as hotels go. All others average under 1 cent per point (Marriott, IHG, Hilton, etc).

2. Get discounted hotels.com gift cards which right now are 10% off either on Ebay or Samsung Pay, sometimes they can get to 15% and rarely 20% off. Use that with the free night after ten nights and it's a good value. If you have a Barclay Arrival+ you can go through their portal and also get 2 points per dollar I believe on hotels.com.

TravelforFun
Posts: 1552
Joined: Tue Dec 04, 2012 11:05 pm

Re: What's Your Credit Card Rewards Strategy?

Post by TravelforFun » Mon Nov 12, 2018 9:27 pm

sco wrote:
Mon Nov 12, 2018 8:35 pm
I get my companion passes in January so it is good for 23 months.
It's great that you can time it like that. I'm sitting here waiting for January to come.

TravelforFun

YoungBogle
Posts: 5
Joined: Thu Nov 08, 2018 10:04 pm

Re: What's Your Credit Card Rewards Strategy?

Post by YoungBogle » Mon Nov 12, 2018 10:01 pm

Step 1: open up the chase sapphire preferred, hit the sign up bonus, bank 50,000 UR
Step 2: open up the chase freedom card, transfer points to chase sapphire preferred
Step 3: downgrade chase sapphire preferred to chase freedom unlimited before annual fee.
Step 4: wait 4 years since step 1, and repeat step 1 except for the chase Sapphire Reserve.

Congrats you have 100,000+ UR, which is equivalent to $1,500 towards travel.

Everything is 2.25% cash back at minimum when redeemed for travel.
Freedom category= 5%*1.5 redemption “bonus”=7.5% cash back/$
Freedom unlimited= 1.5%*1.5 redemption “bonus”=2.25% cash back/$
CSR=3% (for food & travel)*1.5 redemption “bonus”=4.5% cash back/$

sco
Posts: 826
Joined: Thu Sep 24, 2015 2:28 pm

Re: What's Your Credit Card Rewards Strategy?

Post by sco » Mon Nov 12, 2018 10:07 pm

TravelforFun wrote:
Mon Nov 12, 2018 9:27 pm
sco wrote:
Mon Nov 12, 2018 8:35 pm
I get my companion passes in January so it is good for 23 months.
It's great that you can time it like that. I'm sitting here waiting for January to come.

TravelforFun
For a while you could apply for the Business and personal Southwest cards from chase, and get bonuses from both. I think that they stopped this. I would apply in Dec and then get all the points posted in January. repeat it in 2 years, which was part of their 5/24 plan..

Now i think you just get one or the other bonuses, not both.

I've never flown enough to get A list, but I used the companion pass a lot. And don't forget you can change who your companion is 3-4 times a year.

TravelforFun
Posts: 1552
Joined: Tue Dec 04, 2012 11:05 pm

Re: What's Your Credit Card Rewards Strategy?

Post by TravelforFun » Mon Nov 12, 2018 11:26 pm

sco wrote:
Mon Nov 12, 2018 10:07 pm
TravelforFun wrote:
Mon Nov 12, 2018 9:27 pm
sco wrote:
Mon Nov 12, 2018 8:35 pm
I get my companion passes in January so it is good for 23 months.
It's great that you can time it like that. I'm sitting here waiting for January to come.

TravelforFun
For a while you could apply for the Business and personal Southwest cards from chase, and get bonuses from both. I think that they stopped this. I would apply in Dec and then get all the points posted in January. repeat it in 2 years, which was part of their 5/24 plan..

Now i think you just get one or the other bonuses, not both.

I've never flown enough to get A list, but I used the companion pass a lot. And don't forget you can change who your companion is 3-4 times a year.
You can still apply for the business and personal Southwest cards from Chase. I just applied and got them both this month.

TravelforFun

limeyx
Posts: 244
Joined: Wed Sep 07, 2016 5:34 pm

Re: What's Your Credit Card Rewards Strategy?

Post by limeyx » Mon Nov 12, 2018 11:31 pm

lakpr wrote:
Fri Nov 02, 2018 6:44 am
What you are describing is something called “backdating”, and only Amex did this. Note that Amex too stopped this practice at least 3 years ago, and if you cancel the card but apply for another Amex card later, it will NOT inherit the opening date of the oldest card.

?
I just applied for a new Amex but did NOT cancel my existing one and the new card has my backdated years of membership
Don't know what would happen at card renewal If I were to cancel the original card though

MotoTrojan
Posts: 2667
Joined: Wed Feb 01, 2017 8:39 pm

Re: What's Your Credit Card Rewards Strategy?

Post by MotoTrojan » Mon Nov 12, 2018 11:31 pm

Recently got into churning and found a pretty good deal that isn't super well advertised.

Combining the power of the Wells Fargo Propel and Signature cards gets you 4.5% back on dining, gas, and travel, if used through the Signature card's travel portal.

Nice sign-up bonuses too. I have the Propel now and will be adding the Signature in 15 months (to get it's bonus to) and then I'll start spending down the rewards.

Not bad for 2 free cards!

https://www.creditcards.com/credit-card ... propel.php

sco
Posts: 826
Joined: Thu Sep 24, 2015 2:28 pm

Re: What's Your Credit Card Rewards Strategy?

Post by sco » Tue Nov 13, 2018 12:01 am

limeyx wrote:
Mon Nov 12, 2018 11:31 pm
lakpr wrote:
Fri Nov 02, 2018 6:44 am
What you are describing is something called “backdating”, and only Amex did this. Note that Amex too stopped this practice at least 3 years ago, and if you cancel the card but apply for another Amex card later, it will NOT inherit the opening date of the oldest card.

?
I just applied for a new Amex but did NOT cancel my existing one and the new card has my backdated years of membership
Don't know what would happen at card renewal If I were to cancel the original card though
Good to know, I hope it is still that way Dec of 2019 when I apply again :)

ResearchMed
Posts: 7700
Joined: Fri Dec 26, 2008 11:25 pm

Re: What's Your Credit Card Rewards Strategy?

Post by ResearchMed » Tue Nov 13, 2018 6:13 am

limeyx wrote:
Mon Nov 12, 2018 11:31 pm
lakpr wrote:
Fri Nov 02, 2018 6:44 am
What you are describing is something called “backdating”, and only Amex did this. Note that Amex too stopped this practice at least 3 years ago, and if you cancel the card but apply for another Amex card later, it will NOT inherit the opening date of the oldest card.

?
I just applied for a new Amex but did NOT cancel my existing one and the new card has my backdated years of membership
Don't know what would happen at card renewal If I were to cancel the original card though
I obviously don't know it my experience would be the same as you could expect, and this was several years ago.

However, I had Amex for decades, and was sent, unsolicited, an "Inaugural" Platinum card when I hadn't even heard of them. I doubt they still "send cards" like they used to.

And then I stopped using Amex entirely, and cancelled the cards (after using the then-version of "rewards" all up).

I then got another Amex card a few years ago, with more than a 10 year hiatus.

Lo and behold, my original date of *first* membership (1970's) showed up in the "member since" field.
And whenever I call about something, the rep mentions my "length of tenure" (for want of better phrasing!), and then gives me the rote "Thank you for being a member since..."

Someone above suggested that they may not do that anymore...?
It would be interesting to know.

OTOH, I'm not at all sure that the same date is fully recognized in my credit score.
But some of that is so opaque to the end user anyway.

RM
This signature is a placebo. You are in the control group.

jumbopapa
Posts: 28
Joined: Thu Aug 30, 2018 7:56 am

Re: What's Your Credit Card Rewards Strategy?

Post by jumbopapa » Tue Nov 13, 2018 7:58 am

TravelforFun wrote:
Mon Nov 12, 2018 11:26 pm
sco wrote:
Mon Nov 12, 2018 10:07 pm
TravelforFun wrote:
Mon Nov 12, 2018 9:27 pm
sco wrote:
Mon Nov 12, 2018 8:35 pm
I get my companion passes in January so it is good for 23 months.
It's great that you can time it like that. I'm sitting here waiting for January to come.

TravelforFun
For a while you could apply for the Business and personal Southwest cards from chase, and get bonuses from both. I think that they stopped this. I would apply in Dec and then get all the points posted in January. repeat it in 2 years, which was part of their 5/24 plan..

Now i think you just get one or the other bonuses, not both.

I've never flown enough to get A list, but I used the companion pass a lot. And don't forget you can change who your companion is 3-4 times a year.
You can still apply for the business and personal Southwest cards from Chase. I just applied and got them both this month.

TravelforFun
He is saying that you can't get both bonuses, not that you can't get both cards.

TravelforFun
Posts: 1552
Joined: Tue Dec 04, 2012 11:05 pm

Re: What's Your Credit Card Rewards Strategy?

Post by TravelforFun » Tue Nov 13, 2018 8:19 am

jumbopapa wrote:
Tue Nov 13, 2018 7:58 am
TravelforFun wrote:
Mon Nov 12, 2018 11:26 pm
sco wrote:
Mon Nov 12, 2018 10:07 pm
TravelforFun wrote:
Mon Nov 12, 2018 9:27 pm
sco wrote:
Mon Nov 12, 2018 8:35 pm
I get my companion passes in January so it is good for 23 months.
It's great that you can time it like that. I'm sitting here waiting for January to come.

TravelforFun
For a while you could apply for the Business and personal Southwest cards from chase, and get bonuses from both. I think that they stopped this. I would apply in Dec and then get all the points posted in January. repeat it in 2 years, which was part of their 5/24 plan..

Now i think you just get one or the other bonuses, not both.

I've never flown enough to get A list, but I used the companion pass a lot. And don't forget you can change who your companion is 3-4 times a year.
You can still apply for the business and personal Southwest cards from Chase. I just applied and got them both this month.

TravelforFun
He is saying that you can't get both bonuses, not that you can't get both cards.
Yes you can. Two different bonuses on two different cards.

TravelforFun

DrGrnTum
Posts: 45
Joined: Sat Oct 24, 2015 11:22 am

Re: What's Your Credit Card Rewards Strategy?

Post by DrGrnTum » Tue Nov 13, 2018 1:00 pm

jumbopapa wrote: ↑Tue Nov 13, 2018 5:58 am
TravelforFun wrote: ↑Mon Nov 12, 2018 9:26 pm
sco wrote: ↑Mon Nov 12, 2018 8:07 pm
TravelforFun wrote: ↑Mon Nov 12, 2018 7:27 pm
sco wrote: ↑Mon Nov 12, 2018 6:35 pm
I get my companion passes in January so it is good for 23 months.
It's great that you can time it like that. I'm sitting here waiting for January to come.

TravelforFun
For a while you could apply for the Business and personal Southwest cards from chase, and get bonuses from both. I think that they stopped this. I would apply in Dec and then get all the points posted in January. repeat it in 2 years, which was part of their 5/24 plan..

Now i think you just get one or the other bonuses, not both.

I've never flown enough to get A list, but I used the companion pass a lot. And don't forget you can change who your companion is 3-4 times a year.
You can still apply for the business and personal Southwest cards from Chase. I just applied and got them both this month.

TravelforFun
He is saying that you can't get both bonuses, not that you can't get both cards.
Yes you can. Two different bonuses on two different cards.

TravelforFun
I think the confusion comes from the rules that Chase has for Southwest personal CCs and the Business CC.
Here is a link from the Doctor of Credit website that explains the rules.

https://www.doctorofcredit.com/chase-so ... onal-card/

Trism
Posts: 273
Joined: Mon Jul 18, 2016 6:34 pm

Re: What's Your Credit Card Rewards Strategy?

Post by Trism » Tue Nov 13, 2018 5:21 pm

limeyx wrote:
Mon Nov 12, 2018 11:31 pm
lakpr wrote:
Fri Nov 02, 2018 6:44 am
What you are describing is something called “backdating”, and only Amex did this. Note that Amex too stopped this practice at least 3 years ago, and if you cancel the card but apply for another Amex card later, it will NOT inherit the opening date of the oldest card.

?
I just applied for a new Amex but did NOT cancel my existing one and the new card has my backdated years of membership
Don't know what would happen at card renewal If I were to cancel the original card though
There is a difference between the "Member Since" date on the card and what used to be actually valuable.

Amex used to report new Amex cards on your credit as if they were opened in the year you had your first Amex. I still have several (opened and closed) that appear on my credit to have been opened in 1995. Tremendous help for the average age of accounts metric in FICO scoring.

They stopped doing this a few years ago.

SlowMovingInvestor
Posts: 916
Joined: Sun Sep 11, 2016 11:27 am

Re: What's Your Credit Card Rewards Strategy?

Post by SlowMovingInvestor » Tue Nov 13, 2018 5:54 pm

It seems that Capital One has added several Transfer partners to it's points program:

Aeromexico
Air Canada Aeroplan
Air France/KLM
Alitalia
Avianca
Cathay Pacific
Etihad
EVA
Finnair
Hainan
Qantas
Qatar

That is very good news, and makes the card worth getting for me. Aeroplan gives you a lot of StarAlliance seats. And at 1.5 pts/$, this works out even better for random spending than United's cards.

SlowMovingInvestor
Posts: 916
Joined: Sun Sep 11, 2016 11:27 am

Re: What's Your Credit Card Rewards Strategy?

Post by SlowMovingInvestor » Thu Nov 15, 2018 8:37 am

I received an offer from Amex Delta : 50K miles for $2k spend, first year fee waived.

I am not normally a big user of Delta miles, but this seems like a decent offer. I have had Amex Delta in the past -- but this doesn't contain any lifetime language.

1) I remember reading that Amex's site warns you if you are ineligible for a bonus if you try and sign up. Is that correct ?
2) I have 5 other Amex credit cards currently. Does that make me ineligible for another card ?

Thanks

BeneIRA
Posts: 506
Joined: Sat Nov 29, 2014 8:43 pm

Re: What's Your Credit Card Rewards Strategy?

Post by BeneIRA » Thu Nov 15, 2018 8:57 pm

SlowMovingInvestor wrote:
Thu Nov 15, 2018 8:37 am
I received an offer from Amex Delta : 50K miles for $2k spend, first year fee waived.

I am not normally a big user of Delta miles, but this seems like a decent offer. I have had Amex Delta in the past -- but this doesn't contain any lifetime language.

1) I remember reading that Amex's site warns you if you are ineligible for a bonus if you try and sign up. Is that correct ?
2) I have 5 other Amex credit cards currently. Does that make me ineligible for another card ?

Thanks
You can try it and see if you get the pop up. Amex may or may not give you the bonus. It is not a given either way. If you have five credit cards, not charge cards, then you are correct, Amex won''t give you another one.

SlowMovingInvestor
Posts: 916
Joined: Sun Sep 11, 2016 11:27 am

Re: What's Your Credit Card Rewards Strategy?

Post by SlowMovingInvestor » Thu Nov 15, 2018 9:04 pm

BeneIRA wrote:
Thu Nov 15, 2018 8:57 pm
SlowMovingInvestor wrote:
Thu Nov 15, 2018 8:37 am
I received an offer from Amex Delta : 50K miles for $2k spend, first year fee waived.

I am not normally a big user of Delta miles, but this seems like a decent offer. I have had Amex Delta in the past -- but this doesn't contain any lifetime language.

1) I remember reading that Amex's site warns you if you are ineligible for a bonus if you try and sign up. Is that correct ?
2) I have 5 other Amex credit cards currently. Does that make me ineligible for another card ?

Thanks
You can try it and see if you get the pop up. Amex may or may not give you the bonus. It is not a given either way. If you have five credit cards, not charge cards, then you are correct, Amex won''t give you another one.
Would it be rejected immediately if I have 5 or would it go to review ? I can presumably then call up and ask them to cancel a card.

I also discovered that 50K is not the best -- there is a better 75K targeted deal. Not sure how I can get myself targeted.

4th and Inches
Posts: 171
Joined: Mon Nov 12, 2012 8:53 pm

Re: What's Your Credit Card Rewards Strategy?

Post by 4th and Inches » Fri Nov 16, 2018 9:59 am

Capital One Venture Rewards Credit Card has a limited time 75k bonus up from the usual 50k bonus.

Thoughts on this deal and this card?

https://thepointsguy.com/news/capital-o ... ent-offer/

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