What's Your Credit Card Rewards Strategy?

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

Post by ResearchMed »

DrGrnTum wrote: Sun Sep 06, 2020 4:55 pm OP, I take it you have already received the bonus? If so, you may not want to chance doing the regular spend so that it may fall into the next the year. You are supposed to complete the spend in a calendar year. You may have issues if your regular spending is done at the end of the year and your statement closes the next year.
This hasn't ever been a problem us, but where does it say that the "spend" for the bonus points must be in one calendar year. I don't actually remember if any of those intervals went through the New Year for us.

All I've ever seen written is the "... spend $X within Y months..."
Could you quote the fine print that states this about within a single calendar year, and which card, and which card offer, it was from?

We are about to sign up for several more, and maybe this isn't the right time after all, with just a few months left in 2020.

Thanks.

RM
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atdharris
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Re: What's Your Credit Card Rewards Strategy?

Post by atdharris »

I am still using the BofA cards as my cash back cards. There are times I wonder if I should start building up travel points again, but who knows when I will travel again. I have the CF, CFU and CSP cards, so with the enhancements to the Chase cards, I am considering moving my spending to the Freedom/Freedom Unlimited.
EnjoyIt
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Re: What's Your Credit Card Rewards Strategy?

Post by EnjoyIt »

DrGrnTum wrote: Sun Sep 06, 2020 4:55 pm
arsenal_fan wrote: Sun Sep 06, 2020 10:35 am
DrGrnTum wrote: Sun Sep 06, 2020 10:13 am
arsenal_fan wrote: Sun Sep 06, 2020 12:21 am I anticipated a lot of upcoming spending and travel and so applied for the Southwest Rapid Rewards 75K points in Jan. Am $100 shy of the companion pass, so should get there next statement. Plan to close this card soon after that.

Since we're still buying things for the house, I think I can sign up for another card (AF or not) that I can use to generate rewards for travel (expect 1 international flight RT for 2 every year, hotels & car rentals). Need suggestions here.


TLDR:
Current Cards:
1) Amex Gold (4x Groceries, 4x Dining, 3x flights)
2) Bofa Cash Rewards (3% Online Shopping)
3) Citi Dividend -> 2% Citi Double Cash
4) Southwest RR 125K points + companion pass -> Will close soon
5) Amex Blue Cash Everyday - 60K limit - Fairly useless card right now and my second oldest. Not sure if I should close or product change.

Looking for a travel card (AF or not) for upcoming expenses, maybe something that replaces Blue Cash.

Have considered Wells Fargo Propel + Visa 4.5% on travel, but that's two more annoying cards to juggle. The other two cards I'm considering are Citi Premier with 60K points and 3X on travel, OR U.S. Bank Altitude Reserve with 4.5x mobile & travel though I doubt they'll approve since they've rejected a Go card I foolishly applied for with no research.

Thanks!
I don’t know what stage you are at on your spending to acquire the SW Companion Pass. You should always try to complete the spending requirement at the beginning of the year. In this way it will be good for that year and the year to come.
Here is a write on the Companion Pass.

https://millionmilesecrets.com/guides/s ... nion-pass/

The credit card that has the $100 airline credit, check to see if you can buy a travel gift card for an airline that you will soon be flying with. You can find information on this on websites like Flyertalk and Doctor of Credit. This will give you more flexibility on using this credit.

For a new card you might consider an Amex Platinum. In this way you can pool your points together from your other Amex cards. In effect getting a trifecta of credit cards. Plus, you will get the bonus points for the Platinum.
Here is write up on this.

https://nomascoach.boardingarea.com/tra ... a-is-best/

Good luck
Interesting thoughts on the Southwest Companion Pass. Looks like I misinterpreted that a bit. I didn't want to push spending and let it normally get close to the limit with the 25K bonus they provided helping immensely. I thought I'd lose this year anyway because of covid but even a year of Companion Pass would be worth it.

However, since I am actually ~175 off and my statements close on the 4th of the month, I am better off making the last couple of purchases on December 10th so that it posts on the Jan 4th 2021 statement and I can get the Companion pass for 2021 and 2022? This sounds right?

Thanks for the link on the Trifecta write-up. The $550 annual fee for the Platinum threw me off especially since Citi Premier has a $95 fee only and still 60000 points which can be transferred to airlines. But I'll read that article to understand what I'm missing.

Cheers for the response!! Happy Labor Day!
OP, I take it you have already received the bonus? If so, you may not want to chance doing the regular spend so that it may fall into the next the year. You are supposed to complete the spend in a calendar year. You may have issues if your regular spending is done at the end of the year and your statement closes the next year.

By doing a trifecta credit card system, you will be able to pool the points into one reward system. My wife and I use the Chase Trifecta. We have been able to acquire annually on average 100K points by using those credit cards for our regular purchases. Combined with the bonus of a high annual fee card, you should be able to accrue a pretty high balance. If you play this game with your spouse, with both of you signing up for credit cards, you can really rack up the points.

You will have to determine if you will be able find value in the benefits of the Platinum CC. What you want to do is offset that annual cost by taking advantage of those benefits.
Let me ask you I have 2 no fee Amex cards with about 20k points each. One is the blue which is my oldest card I have had for over 20 years and won’t get rid of it. I also don’t use it. The other is the Amex everyday card. Those points are far less valuable than if they were attached to another card. Is it really possible to get the Amex gold or platinum and to move them there? Maybe the Schwab platinum and then cash them out at 1.25cents.

I like you I am part of the UR club with the CSR, ink x2 freedom x2 and freedom unlimited, and will likely sign up for the flex when it comes out though skeptical of the 5x category.
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DrGrnTum
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Re: What's Your Credit Card Rewards Strategy?

Post by DrGrnTum »

by EnjoyIt » Sun Sep 06, 2020 5:18 pm
Let me ask you I have 2 no fee Amex cards with about 20k points each. One is the blue which is my oldest card I have had for over 20 years and won’t get rid of it. I also don’t use it. The other is the Amex everyday card. Those points are far less valuable than if they were attached to another card. Is it really possible to get the Amex gold or platinum and to move them there? Maybe the Schwab platinum and then cash them out at 1.25cents.

I like you I am part of the UR club with the CSR, ink x2 freedom x2 and freedom unlimited, and will likely sign up for the flex when it comes out though skeptical of the 5x category.
The Points Guy has a pretty good write up on Amex cards and what points you can earn.
Here is the link:
https://thepointsguy.com/guide/how-to-c ... x-for-you/

I am not sure what cards you have. If I was you, I would call the number in back of your card and ask if your particular card will allow you to pool points and cash them out with the Schwab Platinum.
arsenal_fan
Posts: 54
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Re: What's Your Credit Card Rewards Strategy?

Post by arsenal_fan »

DrGrnTum wrote: Sun Sep 06, 2020 4:55 pm
arsenal_fan wrote: Sun Sep 06, 2020 10:35 am
DrGrnTum wrote: Sun Sep 06, 2020 10:13 am
arsenal_fan wrote: Sun Sep 06, 2020 12:21 am I anticipated a lot of upcoming spending and travel and so applied for the Southwest Rapid Rewards 75K points in Jan. Am $100 shy of the companion pass, so should get there next statement. Plan to close this card soon after that.

Since we're still buying things for the house, I think I can sign up for another card (AF or not) that I can use to generate rewards for travel (expect 1 international flight RT for 2 every year, hotels & car rentals). Need suggestions here.


TLDR:
Current Cards:
1) Amex Gold (4x Groceries, 4x Dining, 3x flights)
2) Bofa Cash Rewards (3% Online Shopping)
3) Citi Dividend -> 2% Citi Double Cash
4) Southwest RR 125K points + companion pass -> Will close soon
5) Amex Blue Cash Everyday - 60K limit - Fairly useless card right now and my second oldest. Not sure if I should close or product change.

Looking for a travel card (AF or not) for upcoming expenses, maybe something that replaces Blue Cash.

Have considered Wells Fargo Propel + Visa 4.5% on travel, but that's two more annoying cards to juggle. The other two cards I'm considering are Citi Premier with 60K points and 3X on travel, OR U.S. Bank Altitude Reserve with 4.5x mobile & travel though I doubt they'll approve since they've rejected a Go card I foolishly applied for with no research.

Thanks!
I don’t know what stage you are at on your spending to acquire the SW Companion Pass. You should always try to complete the spending requirement at the beginning of the year. In this way it will be good for that year and the year to come.
Here is a write on the Companion Pass.

https://millionmilesecrets.com/guides/s ... nion-pass/

The credit card that has the $100 airline credit, check to see if you can buy a travel gift card for an airline that you will soon be flying with. You can find information on this on websites like Flyertalk and Doctor of Credit. This will give you more flexibility on using this credit.

For a new card you might consider an Amex Platinum. In this way you can pool your points together from your other Amex cards. In effect getting a trifecta of credit cards. Plus, you will get the bonus points for the Platinum.
Here is write up on this.

https://nomascoach.boardingarea.com/tra ... a-is-best/

Good luck
Interesting thoughts on the Southwest Companion Pass. Looks like I misinterpreted that a bit. I didn't want to push spending and let it normally get close to the limit with the 25K bonus they provided helping immensely. I thought I'd lose this year anyway because of covid but even a year of Companion Pass would be worth it.

However, since I am actually ~175 off and my statements close on the 4th of the month, I am better off making the last couple of purchases on December 10th so that it posts on the Jan 4th 2021 statement and I can get the Companion pass for 2021 and 2022? This sounds right?

Thanks for the link on the Trifecta write-up. The $550 annual fee for the Platinum threw me off especially since Citi Premier has a $95 fee only and still 60000 points which can be transferred to airlines. But I'll read that article to understand what I'm missing.

Cheers for the response!! Happy Labor Day!
OP, I take it you have already received the bonus? If so, you may not want to chance doing the regular spend so that it may fall into the next the year. You are supposed to complete the spend in a calendar year. You may have issues if your regular spending is done at the end of the year and your statement closes the next year.
Hmm, yeah I signed up for the card in Jan and received the bonus in June. They added a cool 25k points bonus and now I'm basically $100 short. Was getting greedy to have the CP for 2021 and 2022 by making a transaction in December after my statement closes but I guess it comes with a risk. I'll re-evaluate.

Thanks for the suggestions on pooling points together. I'll look at it a little more. It's also less hassle than having points in the amex world and citi/chase world.
DrGrnTum
Posts: 111
Joined: Sat Oct 24, 2015 11:22 am

Re: What's Your Credit Card Rewards Strategy?

Post by DrGrnTum »

arsenal_fan wrote: Sun Sep 06, 2020 10:00 pm
DrGrnTum wrote: Sun Sep 06, 2020 4:55 pm
arsenal_fan wrote: Sun Sep 06, 2020 10:35 am
DrGrnTum wrote: Sun Sep 06, 2020 10:13 am
arsenal_fan wrote: Sun Sep 06, 2020 12:21 am I anticipated a lot of upcoming spending and travel and so applied for the Southwest Rapid Rewards 75K points in Jan. Am $100 shy of the companion pass, so should get there next statement. Plan to close this card soon after that.

Since we're still buying things for the house, I think I can sign up for another card (AF or not) that I can use to generate rewards for travel (expect 1 international flight RT for 2 every year, hotels & car rentals). Need suggestions here.


TLDR:
Current Cards:
1) Amex Gold (4x Groceries, 4x Dining, 3x flights)
2) Bofa Cash Rewards (3% Online Shopping)
3) Citi Dividend -> 2% Citi Double Cash
4) Southwest RR 125K points + companion pass -> Will close soon
5) Amex Blue Cash Everyday - 60K limit - Fairly useless card right now and my second oldest. Not sure if I should close or product change.

Looking for a travel card (AF or not) for upcoming expenses, maybe something that replaces Blue Cash.

Have considered Wells Fargo Propel + Visa 4.5% on travel, but that's two more annoying cards to juggle. The other two cards I'm considering are Citi Premier with 60K points and 3X on travel, OR U.S. Bank Altitude Reserve with 4.5x mobile & travel though I doubt they'll approve since they've rejected a Go card I foolishly applied for with no research.

Thanks!
I don’t know what stage you are at on your spending to acquire the SW Companion Pass. You should always try to complete the spending requirement at the beginning of the year. In this way it will be good for that year and the year to come.
Here is a write on the Companion Pass.

https://millionmilesecrets.com/guides/s ... nion-pass/

The credit card that has the $100 airline credit, check to see if you can buy a travel gift card for an airline that you will soon be flying with. You can find information on this on websites like Flyertalk and Doctor of Credit. This will give you more flexibility on using this credit.

For a new card you might consider an Amex Platinum. In this way you can pool your points together from your other Amex cards. In effect getting a trifecta of credit cards. Plus, you will get the bonus points for the Platinum.
Here is write up on this.

https://nomascoach.boardingarea.com/tra ... a-is-best/

Good luck
Interesting thoughts on the Southwest Companion Pass. Looks like I misinterpreted that a bit. I didn't want to push spending and let it normally get close to the limit with the 25K bonus they provided helping immensely. I thought I'd lose this year anyway because of covid but even a year of Companion Pass would be worth it.

However, since I am actually ~175 off and my statements close on the 4th of the month, I am better off making the last couple of purchases on December 10th so that it posts on the Jan 4th 2021 statement and I can get the Companion pass for 2021 and 2022? This sounds right?

Thanks for the link on the Trifecta write-up. The $550 annual fee for the Platinum threw me off especially since Citi Premier has a $95 fee only and still 60000 points which can be transferred to airlines. But I'll read that article to understand what I'm missing.

Cheers for the response!! Happy Labor Day!
OP, I take it you have already received the bonus? If so, you may not want to chance doing the regular spend so that it may fall into the next the year. You are supposed to complete the spend in a calendar year. You may have issues if your regular spending is done at the end of the year and your statement closes the next year.
Hmm, yeah I signed up for the card in Jan and received the bonus in June. They added a cool 25k points bonus and now I'm basically $100 short. Was getting greedy to have the CP for 2021 and 2022 by making a transaction in December after my statement closes but I guess it comes with a risk. I'll re-evaluate.

Thanks for the suggestions on pooling points together. I'll look at it a little more. It's also less hassle than having points in the amex world and citi/chase world.
Since you are going to be flying SW you can probably use that airline credit to purchase early bird check in.
Also, buy a couple of drinks on your flight.
Before long, you should be able to blow through that airline credit that you have with that Amex Gold CC.
hmw
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Re: What's Your Credit Card Rewards Strategy?

Post by hmw »

I received a mailed offer from Amex for their blue cash preferred card. I thought it was a good deal.

$300 statement credit for $3000 spending over the 1st 6 months. First year annual fee is waived. Subsequent annual fee is $95.

6% back on groceries, to a max of $6000 a year
6% back on streaming services
3% back on transit and gas

The 6% back on groceries is best I have seen anywhere.
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heartwood
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Re: What's Your Credit Card Rewards Strategy?

Post by heartwood »

hmw wrote: Sun Sep 13, 2020 12:56 pm I received a mailed offer from Amex for their blue cash preferred card. I thought it was a good deal.

$300 statement credit for $3000 spending over the 1st 6 months. First year annual fee is waived. Subsequent annual fee is $95.

6% back on groceries, to a max of $6000 a year
6% back on streaming services
3% back on transit and gas

The 6% back on groceries is best I have seen anywhere.
I just hit $6k in groceries today, so it now goes to 1%. I've had it for several years, but switched to the free one at 3% earlier this year (April?) for a number reasons, mostly the math of the $95 AF after I had hit almost $5k because of food and Rx costs at a supermarket with a pharmacy that coded correctly. The marginal payback became negative. I could pay $95 renewal for around $60 left in the 6% rewards cap in 2020. I'd also note getting your money is somewhat cloogy. The reward lags a month or two before posting as available and before you can request the credit against your account that posts in the month after that.

OTOH your offer is a good one.
dru808
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Re: What's Your Credit Card Rewards Strategy?

Post by dru808 »

Pay reoccurring bills or anything that cannot be paid with cash. Wait a few years, book a trip with Chase ultimate.
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hmw
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Re: What's Your Credit Card Rewards Strategy?

Post by hmw »

heartwood wrote: Sun Sep 13, 2020 3:07 pm
hmw wrote: Sun Sep 13, 2020 12:56 pm I received a mailed offer from Amex for their blue cash preferred card. I thought it was a good deal.

$300 statement credit for $3000 spending over the 1st 6 months. First year annual fee is waived. Subsequent annual fee is $95.

6% back on groceries, to a max of $6000 a year
6% back on streaming services
3% back on transit and gas

The 6% back on groceries is best I have seen anywhere.
I just hit $6k in groceries today, so it now goes to 1%. I've had it for several years, but switched to the free one at 3% earlier this year (April?) for a number reasons, mostly the math of the $95 AF after I had hit almost $5k because of food and Rx costs at a supermarket with a pharmacy that coded correctly. The marginal payback became negative. I could pay $95 renewal for around $60 left in the 6% rewards cap in 2020. I'd also note getting your money is somewhat cloogy. The reward lags a month or two before posting as available and before you can request the credit against your account that posts in the month after that.

OTOH your offer is a good one.
I will likely cancel the card after one year.
tj
Posts: 3388
Joined: Thu Dec 24, 2009 12:10 am

Re: What's Your Credit Card Rewards Strategy?

Post by tj »

hmw wrote: Sun Sep 13, 2020 5:24 pm
heartwood wrote: Sun Sep 13, 2020 3:07 pm
hmw wrote: Sun Sep 13, 2020 12:56 pm I received a mailed offer from Amex for their blue cash preferred card. I thought it was a good deal.

$300 statement credit for $3000 spending over the 1st 6 months. First year annual fee is waived. Subsequent annual fee is $95.

6% back on groceries, to a max of $6000 a year
6% back on streaming services
3% back on transit and gas

The 6% back on groceries is best I have seen anywhere.
I just hit $6k in groceries today, so it now goes to 1%. I've had it for several years, but switched to the free one at 3% earlier this year (April?) for a number reasons, mostly the math of the $95 AF after I had hit almost $5k because of food and Rx costs at a supermarket with a pharmacy that coded correctly. The marginal payback became negative. I could pay $95 renewal for around $60 left in the 6% rewards cap in 2020. I'd also note getting your money is somewhat cloogy. The reward lags a month or two before posting as available and before you can request the credit against your account that posts in the month after that.

OTOH your offer is a good one.
I will likely cancel the card after one year.
There's no reason to cancel it, just downgrade it.
Jags4186
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Re: What's Your Credit Card Rewards Strategy?

Post by Jags4186 »

FYI if anyone is having trouble using their AMEX Shop Small offer, you can buy credit $10 at a time at egifter.com. Egifter qualifies as a Shop Small merchant. If you make ten $10 purchases, you can then combine those into one $100 gift card to a variety of merchants. My wife and I were able to get two $100 Target gift card for $50 each after the $5 rebates.
tj
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Re: What's Your Credit Card Rewards Strategy?

Post by tj »

Jags4186 wrote: Mon Sep 14, 2020 7:26 am FYI if anyone is having trouble using their AMEX Shop Small offer, you can buy credit $10 at a time at egifter.com. Egifter qualifies as a Shop Small merchant. If you make ten $10 purchases, you can then combine those into one $100 gift card to a variety of merchants. My wife and I were able to get two $100 Target gift card for $50 each after the $5 rebates.
You couldn't find legitimate small businesses to use them at?
TravelforFun
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Re: What's Your Credit Card Rewards Strategy?

Post by TravelforFun »

ResearchMed wrote: Sun Sep 06, 2020 5:13 pm
DrGrnTum wrote: Sun Sep 06, 2020 4:55 pm OP, I take it you have already received the bonus? If so, you may not want to chance doing the regular spend so that it may fall into the next the year. You are supposed to complete the spend in a calendar year. You may have issues if your regular spending is done at the end of the year and your statement closes the next year.
This hasn't ever been a problem us, but where does it say that the "spend" for the bonus points must be in one calendar year. I don't actually remember if any of those intervals went through the New Year for us.

All I've ever seen written is the "... spend $X within Y months..."
Could you quote the fine print that states this about within a single calendar year, and which card, and which card offer, it was from?

We are about to sign up for several more, and maybe this isn't the right time after all, with just a few months left in 2020.

Thanks.

RM
"... spend $X within Y months..." to get the bonus points is correct. With Southwest, calendar year comes into play because you get the companion pass in the same calendar year (and the following year) when you reach the 125,000 points.

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

Post by Jags4186 »

tj wrote: Mon Sep 14, 2020 9:43 am
Jags4186 wrote: Mon Sep 14, 2020 7:26 am FYI if anyone is having trouble using their AMEX Shop Small offer, you can buy credit $10 at a time at egifter.com. Egifter qualifies as a Shop Small merchant. If you make ten $10 purchases, you can then combine those into one $100 gift card to a variety of merchants. My wife and I were able to get two $100 Target gift card for $50 each after the $5 rebates.
You couldn't find legitimate small businesses to use them at?
Two things:

1) Does it matter? I don't change my spending habits based on a $5 coupon.

2) I did try and use the offer at businesses that show up on the map and, of course, they didn't trigger the credit. After speaking with AMEX after having 4 transactions fail to qualify they basically told me that even if a business shows up on the map, the business still needs to do XYZ things in order to register. I'm not dealing with that hassle.
Mudpuppy
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Re: What's Your Credit Card Rewards Strategy?

Post by Mudpuppy »

Jags4186 wrote: Mon Sep 14, 2020 7:26 am FYI if anyone is having trouble using their AMEX Shop Small offer, you can buy credit $10 at a time at egifter.com. Egifter qualifies as a Shop Small merchant. If you make ten $10 purchases, you can then combine those into one $100 gift card to a variety of merchants. My wife and I were able to get two $100 Target gift card for $50 each after the $5 rebates.
This is a little too close to manufactured spending for my comfort, particularly with AMEX's RAT reputation. It's my second oldest card, so I'm not planning to rock the boat.
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VictoriaF
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Re: What's Your Credit Card Rewards Strategy?

Post by VictoriaF »

Breaking news:
The CSP sign-in bonus is increased to 80k points.

Congratulations to the eligible players. And a good first card for those who want to start playing.

Victoria
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Bibliothikarios
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Re: What's Your Credit Card Rewards Strategy?

Post by Bibliothikarios »

Question:

Can I refer my wife for the Chase Sapphire Preferred or any Chase card and get the referral bonus (if I have the card)?
Leesbro63
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Re: What's Your Credit Card Rewards Strategy?

Post by Leesbro63 »

VictoriaF wrote: Tue Sep 15, 2020 8:40 am Breaking news:
The CSP sign-in bonus is increased to 80k points.

Congratulations to the eligible players. And a good first card for those who want to start playing.

Victoria
How much is this worth if you cash it in...and not use their travel portals?
EnjoyIt
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Re: What's Your Credit Card Rewards Strategy?

Post by EnjoyIt »

Leesbro63 wrote: Wed Sep 16, 2020 8:28 am
VictoriaF wrote: Tue Sep 15, 2020 8:40 am Breaking news:
The CSP sign-in bonus is increased to 80k points.

Congratulations to the eligible players. And a good first card for those who want to start playing.

Victoria
How much is this worth if you cash it in...and not use their travel portals?
$800 plus the $4000 in spend giving you another $40 or so.
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Jags4186
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Re: What's Your Credit Card Rewards Strategy?

Post by Jags4186 »

EnjoyIt wrote: Wed Sep 16, 2020 8:37 am
Leesbro63 wrote: Wed Sep 16, 2020 8:28 am
VictoriaF wrote: Tue Sep 15, 2020 8:40 am Breaking news:
The CSP sign-in bonus is increased to 80k points.

Congratulations to the eligible players. And a good first card for those who want to start playing.

Victoria
How much is this worth if you cash it in...and not use their travel portals?
$800 plus the $4000 in spend giving you another $40 or so.
Minus the not waived $95 annual fee.
DrGrnTum
Posts: 111
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Re: What's Your Credit Card Rewards Strategy?

Post by DrGrnTum »

Bibliothikarios wrote: Tue Sep 15, 2020 8:25 pm Question:

Can I refer my wife for the Chase Sapphire Preferred or any Chase card and get the referral bonus (if I have the card)?
Yes you can.
Here is a write up by the The Points Guy on Chase referrals.

https://thepointsguy.com/news/earn-chas ... ral-links/

In the artificial he posts a link for the Chase site that allows you to generate a referral links.
Here is that link.

https://creditcards.chase.com/refer-a-friend

Right now the referral of the Chase Preferred in showing the Bonus for the card at 75K.
You should wait until that gets changed to 80k
Bibliothikarios
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Re: What's Your Credit Card Rewards Strategy?

Post by Bibliothikarios »

DrGrnTum wrote: Wed Sep 16, 2020 10:29 am
Bibliothikarios wrote: Tue Sep 15, 2020 8:25 pm Question:

Can I refer my wife for the Chase Sapphire Preferred or any Chase card and get the referral bonus (if I have the card)?
Yes you can.
Here is a write up by the The Points Guy on Chase referrals.

https://thepointsguy.com/news/earn-chas ... ral-links/

In the artificial he posts a link for the Chase site that allows you to generate a referral links.
Here is that link.

https://creditcards.chase.com/refer-a-friend

Right now the referral of the Chase Preferred in showing the Bonus for the card at 75K.
You should wait until that gets changed to 80k
Thank you for the answer!
Bibliothikarios
Posts: 19
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Location: Deep South

Re: What's Your Credit Card Rewards Strategy?

Post by Bibliothikarios »

One more question:

How long a period a time will the 80k Sapphire Preferred bonus last? Can anyone venture a guess based on past windows of time?

I wanted to stagger mine and DW's so that we can hit our spend naturally. I would like to wait a month before she gets it, if possible.
Seasonal
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Re: What's Your Credit Card Rewards Strategy?

Post by Seasonal »

Bibliothikarios wrote: Fri Sep 18, 2020 9:42 am One more question:

How long a period a time will the 80k Sapphire Preferred bonus last? Can anyone venture a guess based on past windows of time?

I wanted to stagger mine and DW's so that we can hit our spend naturally. I would like to wait a month before she gets it, if possible.
November 8, https://www.doctorofcredit.com/source-c ... er-8-2020/
Bibliothikarios
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Re: What's Your Credit Card Rewards Strategy?

Post by Bibliothikarios »

Seasonal wrote: Fri Sep 18, 2020 10:15 am
Bibliothikarios wrote: Fri Sep 18, 2020 9:42 am One more question:

How long a period a time will the 80k Sapphire Preferred bonus last? Can anyone venture a guess based on past windows of time?

I wanted to stagger mine and DW's so that we can hit our spend naturally. I would like to wait a month before she gets it, if possible.
November 8, https://www.doctorofcredit.com/source-c ... er-8-2020/
Thank you for the answer!
absolute zero
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Re: What's Your Credit Card Rewards Strategy?

Post by absolute zero »

Does anyone know if purchasing visa gift cards is still a valid way to generate spending towards Chase Sapphire Preferred’s $4k requirement? It’s been a long time since I got a new credit card. Not sure if I can hit the $4k in 3 months with my normal spending. I remember many years ago buying VGC’s off of giftcardmall.com. Hopefully Chase hasn’t shut that down?
EnjoyIt
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Re: What's Your Credit Card Rewards Strategy?

Post by EnjoyIt »

absolute zero wrote: Sun Sep 20, 2020 9:02 pm Does anyone know if purchasing visa gift cards is still a valid way to generate spending towards Chase Sapphire Preferred’s $4k requirement? It’s been a long time since I got a new credit card. Not sure if I can hit the $4k in 3 months with my normal spending. I remember many years ago buying VGC’s off of giftcardmall.com. Hopefully Chase hasn’t shut that down?
That does work. You can also buy gift cards for the supermarket or other common establishment you go to regularly or even prepay your electric bill.
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VictoriaF
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Re: What's Your Credit Card Rewards Strategy?

Post by VictoriaF »

EnjoyIt wrote: Mon Sep 21, 2020 8:38 am
absolute zero wrote: Sun Sep 20, 2020 9:02 pm Does anyone know if purchasing visa gift cards is still a valid way to generate spending towards Chase Sapphire Preferred’s $4k requirement? It’s been a long time since I got a new credit card. Not sure if I can hit the $4k in 3 months with my normal spending. I remember many years ago buying VGC’s off of giftcardmall.com. Hopefully Chase hasn’t shut that down?
That does work. You can also buy gift cards for the supermarket or other common establishment you go to regularly or even prepay your electric bill.
My plan is to get this card in mid-October. Per Doctor of Credit, the bonus should be available until early November, but I don't want to wait to the last moment.

My spending plan is as follows:
- generate as much organic spending as possible between the time of getting the card and the end of the year
- in early January 2021, do the rest of the $4,000 spending by paying the estimated taxes for the 4th quarter of 2020.

In the worst case, I'll pay $2,000 in estimated taxes with 1.87% fee. That would be a loss of $37.40 on the fee, which is not a big deal.

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Re: What's Your Credit Card Rewards Strategy?

Post by Cruz »

I recently received an offer for a $150 bonus for signing up for the Capital One Quicksilver Card. It gives unlimited 1.5% cash back on every purchase, no annual fee, no foreign transaction fees. The lack of foreign transaction fee and extra 0.5% than what I am getting on "miscellaneous" purchases is attractive but I'm not sure it is worth it to hold a 4th card just for that. Any thoughts or other cards to consider?

I've been looking for a card for "miscellaneous" purchases that do not fit within the rewards cards I have and that also does not have a foreign transaction fee, as all the ones I have do. I currently have:

AMEX Blue Cash Preferred
6% on groceries, 3% on gas, 1% on everything else

BofA Cash Rewards #1
3% on dining, 1% on everything else

BofA Cash Rewards #2
3% on travel, 1% on everything else
Leesbro63
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Re: What's Your Credit Card Rewards Strategy?

Post by Leesbro63 »

VictoriaF wrote: Mon Sep 21, 2020 9:57 am
EnjoyIt wrote: Mon Sep 21, 2020 8:38 am
absolute zero wrote: Sun Sep 20, 2020 9:02 pm Does anyone know if purchasing visa gift cards is still a valid way to generate spending towards Chase Sapphire Preferred’s $4k requirement? It’s been a long time since I got a new credit card. Not sure if I can hit the $4k in 3 months with my normal spending. I remember many years ago buying VGC’s off of giftcardmall.com. Hopefully Chase hasn’t shut that down?
That does work. You can also buy gift cards for the supermarket or other common establishment you go to regularly or even prepay your electric bill.
My plan is to get this card in mid-October. Per Doctor of Credit, the bonus should be available until early November, but I don't want to wait to the last moment.

My spending plan is as follows:
- generate as much organic spending as possible between the time of getting the card and the end of the year
- in early January 2021, do the rest of the $4,000 spending by paying the estimated taxes for the 4th quarter of 2020.

In the worst case, I'll pay $2,000 in estimated taxes with 1.87% fee. That would be a loss of $37.40 on the fee, which is not a big deal.

Victoria
Won't you get a 1% reward on the $2000 tax payment, making your net fee only $17.40?
iLikeYams
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Re: What's Your Credit Card Rewards Strategy?

Post by iLikeYams »

Cruz wrote: Tue Sep 22, 2020 6:12 am I recently received an offer for a $150 bonus for signing up for the Capital One Quicksilver Card. It gives unlimited 1.5% cash back on every purchase, no annual fee, no foreign transaction fees. The lack of foreign transaction fee and extra 0.5% than what I am getting on "miscellaneous" purchases is attractive but I'm not sure it is worth it to hold a 4th card just for that. Any thoughts or other cards to consider?

I've been looking for a card for "miscellaneous" purchases that do not fit within the rewards cards I have and that also does not have a foreign transaction fee, as all the ones I have do. I currently have:

AMEX Blue Cash Preferred
6% on groceries, 3% on gas, 1% on everything else

BofA Cash Rewards #1
3% on dining, 1% on everything else

BofA Cash Rewards #2
3% on travel, 1% on everything else
Do you plan on traveling internationally anytime soon? Have you gotten Chase cards? They have a rule where you can't apply for them if you have applied for 5 cards within the last 24 months. If you want to travel, I'd recommend building up points with Chase Freedom Unlimited (1.5%) or Freedom Flex (5% groceries and 5% rotating categories) followed by the Chase Sapphire Reserve or Preferred (in a year or two, hold for a year then downgrade). With points you can redeem on travel for 1.5x via Sapphire Reserve so every $1 = $1.5. The Freedoms currently both have $200 back after $500 spent in 3 months.

If cash back is your goal, another good option might be the Citi Double Cash (2%) with the + 2 year extended warranty on purchases. I love using this card on large appliances.
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Re: What's Your Credit Card Rewards Strategy?

Post by lakpr »

Cruz wrote: Tue Sep 22, 2020 6:12 am I recently received an offer for a $150 bonus for signing up for the Capital One Quicksilver Card. It gives unlimited 1.5% cash back on every purchase, no annual fee, no foreign transaction fees. The lack of foreign transaction fee and extra 0.5% than what I am getting on "miscellaneous" purchases is attractive but I'm not sure it is worth it to hold a 4th card just for that. Any thoughts or other cards to consider?
Consider Capital One Venture or Capital One Savor cards. They have annual fee, but also have higher bonus. You can then downgrade to QuickSilver after the first year. So rather than a $150 bonus, you will get $500 bonus less $95 annual fee (not waived) for a net bonus of $405. I have been able to redeem those "miles" for an effective cash back of 2% on the grocery purchases during this pandemic, on the Capital One Venture.

Otherwise, the Capital One Savor One has 3% at restaurants, 2% in groceries (what I could get on the Venture with annual fee) and 1% everywhere else without the annual fee. Assuming that groceries is the biggest category you spend money on, this should net you an effective 2% with no annual fee. The catch: Walmart, Target and Costco are excluded from the "grocery stores" category.
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Re: What's Your Credit Card Rewards Strategy?

Post by SmileyFace »

MikeG62 wrote: Thu Aug 27, 2020 8:40 am
3. Citi American CC - Was told that existing account had to be opened for at least 4 years before closure in order for me to qualify for another bonus. This account had just been opened 3 years.
I wonder if this is new (if even true) since it wasn't what I experienced. I opened the Citi America CC at the beginning of this year and successfully banked the sign-up points. I last had the card about 3.5 years ago but the card was definitely open for less than a year (I canceled well before the annual fee kicked in) - and it seemed like it was only a year or so after I closed the account that they started hounding me via mail and email offers for bonus points to sign-up. I just canceled that card again - will find out if they start mailing and emailing me offers again sometime next year or so. I am a frequent business traveler (or was up until this year) and have had Platinum status on American for several years - not sure if they makes a difference in how they market/offer the card out.
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Re: What's Your Credit Card Rewards Strategy?

Post by hmw »

DaftInvestor wrote: Tue Sep 22, 2020 3:44 pm
MikeG62 wrote: Thu Aug 27, 2020 8:40 am
3. Citi American CC - Was told that existing account had to be opened for at least 4 years before closure in order for me to qualify for another bonus. This account had just been opened 3 years.
I wonder if this is new (if even true) since it wasn't what I experienced. I opened the Citi America CC at the beginning of this year and successfully banked the sign-up points. I last had the card about 3.5 years ago but the card was definitely open for less than a year (I canceled well before the annual fee kicked in) - and it seemed like it was only a year or so after I closed the account that they started hounding me via mail and email offers for bonus points to sign-up. I just canceled that card again - will find out if they start mailing and emailing me offers again sometime next year or so. I am a frequent business traveler (or was up until this year) and have had Platinum status on American for several years - not sure if they makes a difference in how they market/offer the card out.
I think the 4 year look back period for citi is new. I have had 2 citi Aadvantage cards in the past and had them about 2 years apart. I got another offer recently from citi but the look back period is 4 years now. Used to be 2 years.
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Re: What's Your Credit Card Rewards Strategy?

Post by willthrill81 »

ResearchMed wrote: Sun Sep 06, 2020 5:13 pm All I've ever seen written is the "... spend $X within Y months..."
We took out an American Airlines credit card from Barclay that only required that a purchase of any amount be made within a certain period of time to get 50k AA miles; I believe the annual fee was $95. It was a fantastic deal, and many of our family members took out the card.
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Re: What's Your Credit Card Rewards Strategy?

Post by SmileyFace »

hmw wrote: Tue Sep 22, 2020 3:53 pm
DaftInvestor wrote: Tue Sep 22, 2020 3:44 pm
MikeG62 wrote: Thu Aug 27, 2020 8:40 am
3. Citi American CC - Was told that existing account had to be opened for at least 4 years before closure in order for me to qualify for another bonus. This account had just been opened 3 years.
I wonder if this is new (if even true) since it wasn't what I experienced. I opened the Citi America CC at the beginning of this year and successfully banked the sign-up points. I last had the card about 3.5 years ago but the card was definitely open for less than a year (I canceled well before the annual fee kicked in) - and it seemed like it was only a year or so after I closed the account that they started hounding me via mail and email offers for bonus points to sign-up. I just canceled that card again - will find out if they start mailing and emailing me offers again sometime next year or so. I am a frequent business traveler (or was up until this year) and have had Platinum status on American for several years - not sure if they makes a difference in how they market/offer the card out.
I think the 4 year look back period for citi is new. I have had 2 citi Aadvantage cards in the past and had them about 2 years apart. I got another offer recently from citi but the look back period is 4 years now. Used to be 2 years.
I think what Mike is talking about isn't the lookback period - but a requirement that if you were a prior cardholder that you would have had to used the card for multiple years (to rule you out as a churner). Although I could be misreading.
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Re: What's Your Credit Card Rewards Strategy?

Post by hmw »

willthrill81 wrote: Tue Sep 22, 2020 4:02 pm
ResearchMed wrote: Sun Sep 06, 2020 5:13 pm All I've ever seen written is the "... spend $X within Y months..."
We took out an American Airlines credit card from Barclay that only required that a purchase of any amount be made within a certain period of time to get 50k AA miles; I believe the annual fee was $95. It was a fantastic deal, and many of our family members took out the card.
Yup. That was an incredible deal. But I never got the chance to use their companion pass because of the pandemic. I decided not to renew and pay $95 annual fee.
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Re: What's Your Credit Card Rewards Strategy?

Post by hmw »

DaftInvestor wrote: Tue Sep 22, 2020 5:22 pm
hmw wrote: Tue Sep 22, 2020 3:53 pm
DaftInvestor wrote: Tue Sep 22, 2020 3:44 pm
MikeG62 wrote: Thu Aug 27, 2020 8:40 am
3. Citi American CC - Was told that existing account had to be opened for at least 4 years before closure in order for me to qualify for another bonus. This account had just been opened 3 years.
I wonder if this is new (if even true) since it wasn't what I experienced. I opened the Citi America CC at the beginning of this year and successfully banked the sign-up points. I last had the card about 3.5 years ago but the card was definitely open for less than a year (I canceled well before the annual fee kicked in) - and it seemed like it was only a year or so after I closed the account that they started hounding me via mail and email offers for bonus points to sign-up. I just canceled that card again - will find out if they start mailing and emailing me offers again sometime next year or so. I am a frequent business traveler (or was up until this year) and have had Platinum status on American for several years - not sure if they makes a difference in how they market/offer the card out.
I think the 4 year look back period for citi is new. I have had 2 citi Aadvantage cards in the past and had them about 2 years apart. I got another offer recently from citi but the look back period is 4 years now. Used to be 2 years.
I think what Mike is talking about isn't the lookback period - but a requirement that if you were a prior cardholder that you would have had to used the card for multiple years (to rule you out as a churner). Although I could be misreading.
I have not heard that you have to hold a previous card for 4 years. I have never seen language like that at citi.

I think the previous rule was that you can't get a new signing bonus if you had the same card with the last 2 years. Now this has been increased to 4 years at citi.
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Re: What's Your Credit Card Rewards Strategy?

Post by MikeG62 »

hmw wrote: Tue Sep 22, 2020 5:33 pm
DaftInvestor wrote: Tue Sep 22, 2020 5:22 pm
hmw wrote: Tue Sep 22, 2020 3:53 pm
DaftInvestor wrote: Tue Sep 22, 2020 3:44 pm
MikeG62 wrote: Thu Aug 27, 2020 8:40 am
3. Citi American CC - Was told that existing account had to be opened for at least 4 years before closure in order for me to qualify for another bonus. This account had just been opened 3 years.
I wonder if this is new (if even true) since it wasn't what I experienced. I opened the Citi America CC at the beginning of this year and successfully banked the sign-up points. I last had the card about 3.5 years ago but the card was definitely open for less than a year (I canceled well before the annual fee kicked in) - and it seemed like it was only a year or so after I closed the account that they started hounding me via mail and email offers for bonus points to sign-up. I just canceled that card again - will find out if they start mailing and emailing me offers again sometime next year or so. I am a frequent business traveler (or was up until this year) and have had Platinum status on American for several years - not sure if they makes a difference in how they market/offer the card out.
I think the 4 year look back period for citi is new. I have had 2 citi Aadvantage cards in the past and had them about 2 years apart. I got another offer recently from citi but the look back period is 4 years now. Used to be 2 years.
I think what Mike is talking about isn't the lookback period - but a requirement that if you were a prior cardholder that you would have had to used the card for multiple years (to rule you out as a churner). Although I could be misreading.
I have not heard that you have to hold a previous card for 4 years. I have never seen language like that at citi.

I think the previous rule was that you can't get a new signing bonus if you had the same card with the last 2 years. Now this has been increased to 4 years at citi.
This is what I was told by a Citi CSR when I called to discuss my options to avoid the annual fee. Once she told me they would not waive it, I told her I wanted to cancel the card. I then asked about whether, once I resumed traveling, I could open the card again and qualify for whatever bonus is being offered at that time. What I posted is what she told me. So if it’s a surprise to those who’ve double dipped before I’d say they changed their policy. Is it possible she was misinformed? I suppose. She sounded pretty sure as I recall the conversation.
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SmileyFace
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Re: What's Your Credit Card Rewards Strategy?

Post by SmileyFace »

MikeG62 wrote: Tue Sep 22, 2020 7:04 pm
hmw wrote: Tue Sep 22, 2020 5:33 pm
DaftInvestor wrote: Tue Sep 22, 2020 5:22 pm
hmw wrote: Tue Sep 22, 2020 3:53 pm
DaftInvestor wrote: Tue Sep 22, 2020 3:44 pm

I wonder if this is new (if even true) since it wasn't what I experienced. I opened the Citi America CC at the beginning of this year and successfully banked the sign-up points. I last had the card about 3.5 years ago but the card was definitely open for less than a year (I canceled well before the annual fee kicked in) - and it seemed like it was only a year or so after I closed the account that they started hounding me via mail and email offers for bonus points to sign-up. I just canceled that card again - will find out if they start mailing and emailing me offers again sometime next year or so. I am a frequent business traveler (or was up until this year) and have had Platinum status on American for several years - not sure if they makes a difference in how they market/offer the card out.
I think the 4 year look back period for citi is new. I have had 2 citi Aadvantage cards in the past and had them about 2 years apart. I got another offer recently from citi but the look back period is 4 years now. Used to be 2 years.
I think what Mike is talking about isn't the lookback period - but a requirement that if you were a prior cardholder that you would have had to used the card for multiple years (to rule you out as a churner). Although I could be misreading.
I have not heard that you have to hold a previous card for 4 years. I have never seen language like that at citi.

I think the previous rule was that you can't get a new signing bonus if you had the same card with the last 2 years. Now this has been increased to 4 years at citi.
This is what I was told by a Citi CSR when I called to discuss my options to avoid the annual fee. Once she told me they would not waive it, I told her I wanted to cancel the card. I then asked about whether, once I resumed traveling, I could open the card again and qualify for whatever bonus is being offered at that time. What I posted is what she told me. So if it’s a surprise to those who’ve double dipped before I’d say they changed their policy. Is it possible she was misinformed? I suppose. She sounded pretty sure as I recall the conversation.
She may be confused herself and misreading the terms. They literally just emailed me an offer (even though I just cancelled a week or so back) for 65,000 miles after spending $4000 for the first 4 months. The Terms and Conditions do stipulate 48 months must pass since cashing in on points prior (nothing to do with having to hold the card open prior).
https://creditcards.aa.com/cbaaterms/
Offer availability
American Airlines AAdvantage® bonus miles are not available if you have received a new account bonus for a CitiBusiness® / AAdvantage® Platinum Select® account in the past 48 months.
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Re: What's Your Credit Card Rewards Strategy?

Post by MikeG62 »

DaftInvestor wrote: Thu Sep 24, 2020 4:16 pm
MikeG62 wrote: Tue Sep 22, 2020 7:04 pm
hmw wrote: Tue Sep 22, 2020 5:33 pm
DaftInvestor wrote: Tue Sep 22, 2020 5:22 pm
hmw wrote: Tue Sep 22, 2020 3:53 pm

I think the 4 year look back period for citi is new. I have had 2 citi Aadvantage cards in the past and had them about 2 years apart. I got another offer recently from citi but the look back period is 4 years now. Used to be 2 years.
I think what Mike is talking about isn't the lookback period - but a requirement that if you were a prior cardholder that you would have had to used the card for multiple years (to rule you out as a churner). Although I could be misreading.
I have not heard that you have to hold a previous card for 4 years. I have never seen language like that at citi.

I think the previous rule was that you can't get a new signing bonus if you had the same card with the last 2 years. Now this has been increased to 4 years at citi.
This is what I was told by a Citi CSR when I called to discuss my options to avoid the annual fee. Once she told me they would not waive it, I told her I wanted to cancel the card. I then asked about whether, once I resumed traveling, I could open the card again and qualify for whatever bonus is being offered at that time. What I posted is what she told me. So if it’s a surprise to those who’ve double dipped before I’d say they changed their policy. Is it possible she was misinformed? I suppose. She sounded pretty sure as I recall the conversation.
She may be confused herself and misreading the terms. They literally just emailed me an offer (even though I just cancelled a week or so back) for 65,000 miles after spending $4000 for the first 4 months. The Terms and Conditions do stipulate 48 months must pass since cashing in on points prior (nothing to do with having to hold the card open prior).
https://creditcards.aa.com/cbaaterms/
Offer availability
American Airlines AAdvantage® bonus miles are not available if you have received a new account bonus for a CitiBusiness® / AAdvantage® Platinum Select® account in the past 48 months.
Ok good to know. Thanks for clarifying. She either misspoke or I misunderstood her.
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deanmoriarty
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Re: What's Your Credit Card Rewards Strategy?

Post by deanmoriarty »

For a couple years now, I’ve been using three BofA Cash Rewards cards, and one BofA Travel rewards card, all no annual fee cards, and I get these rewards, all in monthly effective cash back:

- 5.25% on dining/bars
- 5.25% on travel
- 5.25% on online
- 3.5% on groceries (including Costco!)
- 2.625% on everything else (and no international fee)

I can put 90% of my spending on those 3-5% categories above, and I can rotate them when I exceed the $2500 spending in one quarter, and it has worked very well for me. The “muscle memory” of using different cards is fully built up and it’s become second nature.

I just noticed the CSP bonus of 80k points and that made me wonder if I should invest the time to open that credit card, purely for the bonus.

I travel a decent amount, and probably spend about $5-10k a year on travel, but I rarely use miles: I book my own cheap economy flights carefully researching on kayak.com, and just as well carefully research hotels for good value, so I normally don’t go and blow $300 a night on a Hyatt. Even in Hawaii, I managed to get a really good hotel in Waikiki for $90 a night, a couple blocks from the beach.

Do you think it would be worth the time?
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Re: What's Your Credit Card Rewards Strategy?

Post by EnjoyIt »

deanmoriarty wrote: Sun Sep 27, 2020 8:12 am For a couple years now, I’ve been using three BofA Cash Rewards cards, and one BofA Travel rewards card, all no annual fee cards, and I get these rewards, all in monthly effective cash back:

- 5.25% on dining/bars
- 5.25% on travel
- 5.25% on online
- 3.5% on groceries (including Costco!)
- 2.625% on everything else (and no international fee)

I can put 90% of my spending on those 3-5% categories above, and I can rotate them when I exceed the $2500 spending in one quarter, and it has worked very well for me. The “muscle memory” of using different cards is fully built up and it’s become second nature.

I just noticed the CSP bonus of 80k points and that made me wonder if I should invest the time to open that credit card, purely for the bonus.

I travel a decent amount, and probably spend about $5-10k a year on travel, but I rarely use miles: I book my own cheap economy flights carefully researching on kayak.com, and just as well carefully research hotels.

Do you think it would be worth the time?
I just moved some cash over to ME to begin my 5.25% journey. They say I need 3 months of $100k+ with them to hit the top platinum honors tier. 2 more months to go. I really like the simplicity of not having to deal with points and such and looking forward to transitioning most of my spend with BOA as you do.

To answer your question, 80k points is worth well over $1k even after the $95 yearly fee that is not waived. Considering that the time it takes to get the 80k points and then spending those 80k points will maybe take 1-2 hours. I think that is a very good return on my time.
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Cruz
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Re: What's Your Credit Card Rewards Strategy?

Post by Cruz »

lakpr wrote: Tue Sep 22, 2020 3:36 pm
Cruz wrote: Tue Sep 22, 2020 6:12 am I recently received an offer for a $150 bonus for signing up for the Capital One Quicksilver Card. It gives unlimited 1.5% cash back on every purchase, no annual fee, no foreign transaction fees. The lack of foreign transaction fee and extra 0.5% than what I am getting on "miscellaneous" purchases is attractive but I'm not sure it is worth it to hold a 4th card just for that. Any thoughts or other cards to consider?
Consider Capital One Venture or Capital One Savor cards. They have annual fee, but also have higher bonus. You can then downgrade to QuickSilver after the first year. So rather than a $150 bonus, you will get $500 bonus less $95 annual fee (not waived) for a net bonus of $405. I have been able to redeem those "miles" for an effective cash back of 2% on the grocery purchases during this pandemic, on the Capital One Venture.

Otherwise, the Capital One Savor One has 3% at restaurants, 2% in groceries (what I could get on the Venture with annual fee) and 1% everywhere else without the annual fee. Assuming that groceries is the biggest category you spend money on, this should net you an effective 2% with no annual fee. The catch: Walmart, Target and Costco are excluded from the "grocery stores" category.
The higher bonues are nice, but those cards don't get me more cash-back than my current set up. Suppose I could get one for the bonus and then downgrade.
iLikeYams wrote: Tue Sep 22, 2020 3:07 pm
Cruz wrote: Tue Sep 22, 2020 6:12 am I recently received an offer for a $150 bonus for signing up for the Capital One Quicksilver Card. It gives unlimited 1.5% cash back on every purchase, no annual fee, no foreign transaction fees. The lack of foreign transaction fee and extra 0.5% than what I am getting on "miscellaneous" purchases is attractive but I'm not sure it is worth it to hold a 4th card just for that. Any thoughts or other cards to consider?

I've been looking for a card for "miscellaneous" purchases that do not fit within the rewards cards I have and that also does not have a foreign transaction fee, as all the ones I have do. I currently have:

AMEX Blue Cash Preferred
6% on groceries, 3% on gas, 1% on everything else

BofA Cash Rewards #1
3% on dining, 1% on everything else

BofA Cash Rewards #2
3% on travel, 1% on everything else
Do you plan on traveling internationally anytime soon? Have you gotten Chase cards? They have a rule where you can't apply for them if you have applied for 5 cards within the last 24 months. If you want to travel, I'd recommend building up points with Chase Freedom Unlimited (1.5%) or Freedom Flex (5% groceries and 5% rotating categories) followed by the Chase Sapphire Reserve or Preferred (in a year or two, hold for a year then downgrade). With points you can redeem on travel for 1.5x via Sapphire Reserve so every $1 = $1.5. The Freedoms currently both have $200 back after $500 spent in 3 months.

If cash back is your goal, another good option might be the Citi Double Cash (2%) with the + 2 year extended warranty on purchases. I love using this card on large appliances.
I'm not sure when I will travel aboad next, but would like a card that has a 0% transaction fee which ruled out the Citi Double Cash for me. Chase Freedom Unlimited could be an option, but I dont have either of the Sapphire cards. I dont expect I would charge too much on this card so not sure how fast points would accumulate.
mageedge
Posts: 96
Joined: Tue Mar 15, 2011 2:39 pm

Re: What's Your Credit Card Rewards Strategy?

Post by mageedge »

Cruz wrote: Tue Sep 22, 2020 6:12 am I recently received an offer for a $150 bonus for signing up for the Capital One Quicksilver Card. It gives unlimited 1.5% cash back on every purchase, no annual fee, no foreign transaction fees. The lack of foreign transaction fee and extra 0.5% than what I am getting on "miscellaneous" purchases is attractive but I'm not sure it is worth it to hold a 4th card just for that. Any thoughts or other cards to consider?

I've been looking for a card for "miscellaneous" purchases that do not fit within the rewards cards I have and that also does not have a foreign transaction fee, as all the ones I have do. I currently have:

AMEX Blue Cash Preferred
6% on groceries, 3% on gas, 1% on everything else

BofA Cash Rewards #1
3% on dining, 1% on everything else

BofA Cash Rewards #2
3% on travel, 1% on everything else
Have you thought about Bank of America Travel Rewards card? You already have an established BOA account so this would just be an "add-on". 1.5%, no foreign transaction fee and a current bonus offer of 25k points ($250 cash back equivalent). The only limitation is that points redeem against travel expenses charged to the card rather than pure cash back. However as your plan is to use the card for overseas travel, redemption should not be a problem.
Workaholic
Posts: 110
Joined: Thu Jul 18, 2013 6:55 am

Re: What's Your Credit Card Rewards Strategy?

Post by Workaholic »

deanmoriarty wrote: Sun Sep 27, 2020 8:12 am For a couple years now, I’ve been using three BofA Cash Rewards cards, and one BofA Travel rewards card, all no annual fee cards, and I get these rewards, all in monthly effective cash back:

- 5.25% on dining/bars
- 5.25% on travel
- 5.25% on online
- 3.5% on groceries (including Costco!)
- 2.625% on everything else (and no international fee)

I can put 90% of my spending on those 3-5% categories above, and I can rotate them when I exceed the $2500 spending in one quarter, and it has worked very well for me. The “muscle memory” of using different cards is fully built up and it’s become second nature.

I just noticed the CSP bonus of 80k points and that made me wonder if I should invest the time to open that credit card, purely for the bonus.

I travel a decent amount, and probably spend about $5-10k a year on travel, but I rarely use miles: I book my own cheap economy flights carefully researching on kayak.com, and just as well carefully research hotels for good value, so I normally don’t go and blow $300 a night on a Hyatt. Even in Hawaii, I managed to get a really good hotel in Waikiki for $90 a night, a couple blocks from the beach.

Do you think it would be worth the time?
I think the majority of people would agree it's worth the time invested as it only takes a few minutes to fill out an application and you already say you can spend the $4K easily within 3 months. For me it'd be a no-brainer however you really get the most "value" out of the 80K UR points if you use them for higher-end Hyatt properties or international saver award availability on United. Both of these options almost always get 2 cents per point at a minimum. Between my wife and I, we currently hold 500K+ UR points that we plan on redeeming a portion at the Grand Hyatt Kauai next year during the peak Christmas season where rates are between $500-$600/ night for a standard room but only 25K Hyatt points/ night.

I've thought about doing the BofA route but for my situation, it just makes more sense to accumulate Chase UR points rather than cash back. I never get less than 2 cents per UR point so effectively my structure is:

10% on the rotating categories
6% on dining
6% on travel
3% on everything else

If Hyatt or United was to suddenly and drastically devalue their programs, I'd consider switching but for now, I feel the greatest value is in stashing UR points away versus cash back.
protagonist
Posts: 6696
Joined: Sun Dec 26, 2010 12:47 pm

Re: What's Your Credit Card Rewards Strategy?

Post by protagonist »

This is a naive question to which I think I know the answer but I will try anyway.
I have to pay a large dental bill.
The Chase Freedom (and Freedom Flex) 5% category for Q4 is Paypal, but my dentist does not accept Paypal.
Is there any simple way around that so that I could still have the payment go through Paypal and get the 5x points?

Otherwise I will just pay with Freedom Unlimited and get the 1.5x.
protagonist
Posts: 6696
Joined: Sun Dec 26, 2010 12:47 pm

Re: What's Your Credit Card Rewards Strategy?

Post by protagonist »

EnjoyIt wrote: Sun Sep 27, 2020 8:19 am

To answer your question, 80k points is worth well over $1k even after the $95 yearly fee that is not waived. Considering that the time it takes to get the 80k points and then spending those 80k points will maybe take 1-2 hours. I think that is a very good return on my time.
Two caveats beyond 5/24 (prob. already mentioned but this is a huge thread, and I doubt that many would take the time to read it all):

-If you received a Sapphire bonus within 4 years you are ineligible for a new Sapphire bonus (any Sapphire card), and that means 4 years since you actually received the bonus, not from when you activated your card.
- If you currently hold a Sapphire card you are ineligible.

(these points were explained to me by a Chase rep. today).

I'm emphasizing this so that nobody goes through all the motions and does not get the bonus.
Workaholic
Posts: 110
Joined: Thu Jul 18, 2013 6:55 am

Re: What's Your Credit Card Rewards Strategy?

Post by Workaholic »

protagonist wrote: Mon Sep 28, 2020 12:05 pm
EnjoyIt wrote: Sun Sep 27, 2020 8:19 am

To answer your question, 80k points is worth well over $1k even after the $95 yearly fee that is not waived. Considering that the time it takes to get the 80k points and then spending those 80k points will maybe take 1-2 hours. I think that is a very good return on my time.
I'm emphasizing this so that nobody goes through all the motions and does not get the bonus.
Which plenty of people will find out the hard way. I'm sure there will be a whole slew of people cancelling their CSR's over the coming months, applying for a CSP thinking they'll score an easy 80K points, and be sorely disappointed when they learn that it's from when they received their BONUS versus when they received their CARD. And considering the 80K point offer is only valid until November (as of now), very few people who received the first wave of CSR cards back in 2016 will be eligible for the 80k point bonus on the CSP.
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