What's Your Credit Card Rewards Strategy?

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

Post by VictoriaF » Thu Jul 20, 2017 11:49 am

ResearchMed wrote:
VictoriaF wrote:It appears that Chase Sapphire Reserve (CSR) provides travel medical coverage, whereas Chase Sapphire Preferred (CSP) does not. Can anyone confirm this?

Thank you,
Victoria
For any of the card perks, double check whether "medical" includes pre-existing conditions, and how those are defined.
That was a "gotcha" for us.

Also any covered cost limits to medical care.

Also, currently, we need to have coverage to cancel or interrupt if very elderly MIL develops a serious problem...
That type of coverage should be checked, too, if relevant.

RM
Thanks. I am interested if anyone had personal experience with using CSP or CSR medical coverage and how it worked for them.

Victoria
WINNER of the 2015 Boglehead Contest. | Every joke has a bit of a joke. ... The rest is the truth. (Marat F)

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

Post by spammagnet » Thu Jul 20, 2017 2:25 pm

VictoriaF wrote:Thanks. I am interested if anyone had personal experience with using CSP or CSR medical coverage and how it worked for them.

Victoria
If you travel a lot and if the coverage is adequate for your needs, that $450 AF might be a bargain if the travel coverage substitutes for domestic coverage.

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

Post by VictoriaF » Thu Jul 20, 2017 2:40 pm

spammagnet wrote:
VictoriaF wrote:Thanks. I am interested if anyone had personal experience with using CSP or CSR medical coverage and how it worked for them.

Victoria
If you travel a lot and if the coverage is adequate for your needs, that $450 AF might be a bargain if the travel coverage substitutes for domestic coverage.
I travel a lot, have the CSP, and will get the CSR after I satisfy 24/5 early next year.

I have a good medical coverage in the U.S. My question is triggered by another discussion about purchasing a medical insurance when traveling. I am wondering if the CSR would take care of most medical situations abroad. The CSP does not seem to cover medical costs.

Victoria
WINNER of the 2015 Boglehead Contest. | Every joke has a bit of a joke. ... The rest is the truth. (Marat F)

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

Post by student » Thu Jul 20, 2017 3:34 pm

VictoriaF wrote:
spammagnet wrote:
VictoriaF wrote:Thanks. I am interested if anyone had personal experience with using CSP or CSR medical coverage and how it worked for them.

Victoria
If you travel a lot and if the coverage is adequate for your needs, that $450 AF might be a bargain if the travel coverage substitutes for domestic coverage.
I travel a lot, have the CSP, and will get the CSR after I satisfy 24/5 early next year.

I have a good medical coverage in the U.S. My question is triggered by another discussion about purchasing a medical insurance when traveling. I am wondering if the CSR would take care of most medical situations abroad. The CSP does not seem to cover medical costs.

Victoria
It says "If you’re 100 miles or more from home on a trip, you can be reimbursed up to $2,500 for medical expenses if you or your immediate family member become sick or injured." I guess you need to decide whether this is enough.

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

Post by CodeMaster » Fri Jul 21, 2017 4:12 am

Im sorry if someone already asked this, but I was read your post about how you use these cards to purchase gift cards to use. Thats a great idea but was wondering doesnt the GC charge additional few percentage on top evening it out?

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Re: What's Your Credit Card Rewards Strategy?

Post by flamesabers » Fri Jul 21, 2017 9:03 am

CodeMaster wrote:Im sorry if someone already asked this, but I was read your post about how you use these cards to purchase gift cards to use. Thats a great idea but was wondering doesnt the GC charge additional few percentage on top evening it out?
It depends on what type of gift cards you're purchasing. If you're buying a prepaid Visa or Amex card, there will be additional charges to redeem it. However, if you're purchasing gift cards for a particular store, there shouldn't be a redemption fee. I suggest checking with the store in question to see what their gift card policy is. Sometimes gift cards can expire, other times they don't.

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Re: What's Your Credit Card Rewards Strategy?

Post by sharpjm » Fri Jul 21, 2017 9:10 am

flamesabers wrote:
CodeMaster wrote:Im sorry if someone already asked this, but I was read your post about how you use these cards to purchase gift cards to use. Thats a great idea but was wondering doesnt the GC charge additional few percentage on top evening it out?
It depends on what type of gift cards you're purchasing. If you're buying a prepaid Visa or Amex card, there will be additional charges to redeem it. However, if you're purchasing gift cards for a particular store, there shouldn't be a redemption fee. I suggest checking with the store in question to see what their gift card policy is. Sometimes gift cards can expire, other times they don't.
Visa / Amex don't charge to redeem, they charge at the time of purchase. There are no fees after purchase. I don't know of any store specific gift card that charges any fees other than the monthly fee after a period of no-usage which is typically 12 months.

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

Post by CodeMaster » Fri Jul 21, 2017 10:05 am

Thanks! Thats freaking genius lol

Is there anything else we can buy like that to max out rewards? I recalled long time ago people would max out by buying ibonds but now they charge a fee to purchase via credit card so thats over... just wondering if there was any other ways to get more rewards ? :sharebeer

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

Post by CodeMaster » Fri Jul 21, 2017 10:11 am

CodeMaster wrote:Thanks! Thats freaking genius lol

Is there anything else we can buy like that to max out rewards? I recalled long time ago people would max out by buying ibonds but now they charge a fee to purchase via credit card so thats over... just wondering if there was any other ways to get more rewards ?

:sharebeer

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Re: What's Your Credit Card Rewards Strategy?

Post by flamesabers » Fri Jul 21, 2017 10:15 am

CodeMaster wrote:Thanks! Thats freaking genius lol

Is there anything else we can buy like that to max out rewards? I recalled long time ago people would max out by buying ibonds but now they charge a fee to purchase via credit card so thats over... just wondering if there was any other ways to get more rewards ? :sharebeer
Actually you can't use credit cards at all to buy I-Bonds. You can use a credit card to make a gift to reduce the national debt though. :P

Are you trying to meet a spending requirement to get a bonus or something? Otherwise I don't think it's worth it to buy stuff just for the sake of racking up credit card rewards.

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Re: What's Your Credit Card Rewards Strategy?

Post by CodeMaster » Fri Jul 21, 2017 10:23 am

flamesabers wrote:
CodeMaster wrote:Thanks! Thats freaking genius lol

Is there anything else we can buy like that to max out rewards? I recalled long time ago people would max out by buying ibonds but now they charge a fee to purchase via credit card so thats over... just wondering if there was any other ways to get more rewards ? :sharebeer
Actually you can't use credit cards at all to buy I-Bonds. You can use a credit card to make a gift to reduce the national debt though. :P

Are you trying to meet a spending requirement to get a bonus or something? Otherwise I don't think it's worth it to buy stuff just for the sake of racking up credit card rewards.
No, not trying meeting any spending limit. Just wondering if I can max out my CC limit every month and collect the rewards every month to max somehow. :)

I missed the ibond days for that hahaa

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

Post by CodeMaster » Fri Jul 21, 2017 10:24 am

and your probably right.. the only gift cards i can think of getting a little bit of would be amazon maybe??? but even that i wouldnt imagine getting 10's of k per month hahaha

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

Post by sharpjm » Fri Jul 21, 2017 10:28 am

CodeMaster wrote:Thanks! Thats freaking genius lol

Is there anything else we can buy like that to max out rewards? I recalled long time ago people would max out by buying ibonds but now they charge a fee to purchase via credit card so thats over... just wondering if there was any other ways to get more rewards ? :sharebeer
You can purchase a "Gift of College" gift card (it has a similar fee to Visa/Amex) which can be used to directly pay an existing student loan or can be used to contribute to a 529 plan. This is a new program but I believe they are available at many Toys R Us but can also be purchased online.

https://www.aboutchet.com/tools/gift/index2.shtml

You can pay taxes online for a hefty fee of around 2%. Not many cases where this is profitable.

You can open a bank account online and certain institutions will allow funding with a credit card and it will code as a purchase. It varies by bank so you'll first need to search online to see if it is possible for a given financial institution.

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

Post by CodeMaster » Fri Jul 21, 2017 10:31 am

sharpjm wrote:
CodeMaster wrote:Thanks! Thats freaking genius lol

Is there anything else we can buy like that to max out rewards? I recalled long time ago people would max out by buying ibonds but now they charge a fee to purchase via credit card so thats over... just wondering if there was any other ways to get more rewards ? :sharebeer
You can purchase a "Gift of College" gift card (it has a similar fee to Visa/Amex) which can be used to directly pay an existing student loan or can be used to contribute to a 529 plan. This is a new program but I believe they are available at many Toys R Us but can also be purchased online.

https://www.aboutchet.com/tools/gift/index2.shtml

You can pay taxes online for a hefty fee of around 2%. Not many cases where this is profitable.

You can open a bank account online and certain institutions will allow funding with a credit card and it will code as a purchase. It varies by bank so you'll first need to search online to see if it is possible for a given financial institution.
ya 2% fees wont work... are you able to get the money back with the gift of college somehow or do you have to use it on college? im not a fan of college since i dropped out

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Re: What's Your Credit Card Rewards Strategy?

Post by flamesabers » Fri Jul 21, 2017 10:56 am

CodeMaster wrote: No, not trying meeting any spending limit. Just wondering if I can max out my CC limit every month and collect the rewards every month to max somehow. :)

I missed the ibond days for that hahaa
Are you already paying your bills (the ones that don't charge a convenience fee) on your credit cards?
CodeMaster wrote:and your probably right.. the only gift cards i can think of getting a little bit of would be amazon maybe??? but even that i wouldnt imagine getting 10's of k per month hahaha
Unless you're trying to front-load your expenses all at once, I don't think there is much reason to buy gift cards from Amazon. If you like shopping at Amazon and aren't a Prime member, I suggest getting Amazon's Chase Visa card. You'll get 3% rewards on your Amazon purchases. Plus, you'll get a $50 Amazon gift card just for signing up.

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Re: What's Your Credit Card Rewards Strategy?

Post by CodeMaster » Fri Jul 21, 2017 11:00 am

flamesabers wrote:
CodeMaster wrote: No, not trying meeting any spending limit. Just wondering if I can max out my CC limit every month and collect the rewards every month to max somehow. :)

I missed the ibond days for that hahaa
Are you already paying your bills (the ones that don't charge a convenience fee) on your credit cards?
CodeMaster wrote:and your probably right.. the only gift cards i can think of getting a little bit of would be amazon maybe??? but even that i wouldnt imagine getting 10's of k per month hahaha
Unless you're trying to front-load your expenses all at once, I don't think there is much reason to buy gift cards from Amazon. If you like shopping at Amazon and aren't a Prime member, I suggest getting Amazon's Chase Visa card. You'll get 3% rewards on your Amazon purchases. Plus, you'll get a $50 Amazon gift card just for signing up.

Thanks for the tips... yea I definitely pay all bills with the CC including all business expenses. That all helps but if I had a good way to max out the CC card for rewards without actually spending that cash, i.e. back in days when could max out on ibonds, that'd be really sweet :beer

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Re: What's Your Credit Card Rewards Strategy?

Post by sharpjm » Fri Jul 21, 2017 12:21 pm

CodeMaster wrote:ya 2% fees wont work... are you able to get the money back with the gift of college somehow or do you have to use it on college? im not a fan of college since i dropped out
No, unfortunately the GoC method has to go student loans or 529. I'm not aware of any way to cash out of 529 without penalty.

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Re: What's Your Credit Card Rewards Strategy?

Post by CodeMaster » Fri Jul 21, 2017 12:22 pm

sharpjm wrote:
CodeMaster wrote:ya 2% fees wont work... are you able to get the money back with the gift of college somehow or do you have to use it on college? im not a fan of college since i dropped out
No, unfortunately the GoC method has to go student loans or 529. I'm not aware of any way to cash out of 529 without penalty.
Thanks for the tips...

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Re: What's Your Credit Card Rewards Strategy?

Post by Drew777 » Fri Jul 21, 2017 1:09 pm

CodeMaster wrote:Thanks! Thats freaking genius lol

Is there anything else we can buy like that to max out rewards? I recalled long time ago people would max out by buying ibonds but now they charge a fee to purchase via credit card so thats over... just wondering if there was any other ways to get more rewards ? :sharebeer
There are tons of way, it's called manufactured spending. There aren't a lot of easy widely known methods right now, you'd have to do a lot of research and probably get in some private groups with people in the know who share deals to figure a lot of it out. But there are people doing 6 figures a month worth of manufactured spending. It takes time to learn and develop relationships, you can't just join a forum and expect them to give you circles and arrows explaining it all. You have to be able to contribute as well. Deals die when too many people learn about them. Lots of people like to say MS is dead. It's not true, just the easy over-publicized methods are dead.

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Re: What's Your Credit Card Rewards Strategy?

Post by Mudpuppy » Fri Jul 21, 2017 1:10 pm

sharpjm wrote:
flamesabers wrote:
CodeMaster wrote:Im sorry if someone already asked this, but I was read your post about how you use these cards to purchase gift cards to use. Thats a great idea but was wondering doesnt the GC charge additional few percentage on top evening it out?
It depends on what type of gift cards you're purchasing. If you're buying a prepaid Visa or Amex card, there will be additional charges to redeem it. However, if you're purchasing gift cards for a particular store, there shouldn't be a redemption fee. I suggest checking with the store in question to see what their gift card policy is. Sometimes gift cards can expire, other times they don't.
Visa / Amex don't charge to redeem, they charge at the time of purchase. There are no fees after purchase. I don't know of any store specific gift card that charges any fees other than the monthly fee after a period of no-usage which is typically 12 months.
Note that in some states, it is illegal for a purchased gift card to expire. Some states also outlaw monthly fees for purchased gift cards. Cards obtained through a rewards program I believe are considered to be purchased gift cards (as opposed to promotional gift cards).
flamesabers wrote:Unless you're trying to front-load your expenses all at once, I don't think there is much reason to buy gift cards from Amazon. If you like shopping at Amazon and aren't a Prime member, I suggest getting Amazon's Chase Visa card. You'll get 3% rewards on your Amazon purchases. Plus, you'll get a $50 Amazon gift card just for signing up.
If you're an Amazon Prime member, you'll get 5% rewards and anywhere from $60-80 for the sign-up gift card. I believe it's currently $70 for the Prime sign-up gift card. It was $80 for Prime Day.

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

Post by CodeMaster » Fri Jul 21, 2017 6:25 pm

Drew777 wrote:
CodeMaster wrote:Thanks! Thats freaking genius lol

Is there anything else we can buy like that to max out rewards? I recalled long time ago people would max out by buying ibonds but now they charge a fee to purchase via credit card so thats over... just wondering if there was any other ways to get more rewards ? :sharebeer
There are tons of way, it's called manufactured spending. There aren't a lot of easy widely known methods right now, you'd have to do a lot of research and probably get in some private groups with people in the know who share deals to figure a lot of it out. But there are people doing 6 figures a month worth of manufactured spending. It takes time to learn and develop relationships, you can't just join a forum and expect them to give you circles and arrows explaining it all. You have to be able to contribute as well. Deals die when too many people learn about them. Lots of people like to say MS is dead. It's not true, just the easy over-publicized methods are dead.
cool... do you know any forums / sources of MS? im always happy to contribute what i can. :beer

edit: i found one so far, sharing it . thanks for giving me name of this whole technique, made it easy to find them!
here https://www.flyertalk.com/forum/manufac ... nding-719/

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Re: What's Your Credit Card Rewards Strategy?

Post by Mudpuppy » Fri Jul 21, 2017 7:44 pm

CodeMaster wrote:
Drew777 wrote:
CodeMaster wrote:Thanks! Thats freaking genius lol

Is there anything else we can buy like that to max out rewards? I recalled long time ago people would max out by buying ibonds but now they charge a fee to purchase via credit card so thats over... just wondering if there was any other ways to get more rewards ? :sharebeer
There are tons of way, it's called manufactured spending. There aren't a lot of easy widely known methods right now, you'd have to do a lot of research and probably get in some private groups with people in the know who share deals to figure a lot of it out. But there are people doing 6 figures a month worth of manufactured spending. It takes time to learn and develop relationships, you can't just join a forum and expect them to give you circles and arrows explaining it all. You have to be able to contribute as well. Deals die when too many people learn about them. Lots of people like to say MS is dead. It's not true, just the easy over-publicized methods are dead.
cool... do you know any forums / sources of MS? im always happy to contribute what i can. :beer

edit: i found one so far, sharing it . thanks for giving me name of this whole technique, made it easy to find them!
here https://www.flyertalk.com/forum/manufac ... nding-719/
Tread cautiously, as credit card companies do not take too kindly to manufactured spending or extreme churners. It can, and has, gotten people "blacklisted" by a credit card company, which prevents people from getting any credit cards with that company. They can also deny credit at their company for many other "unsatisfactory prior relationship" and such a blacklist can last for years, or even decades. See this Doctor of Credit article for more information on blacklisting and account shutdowns: http://www.doctorofcredit.com/saving-yo ... -shutdown/

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Re: What's Your Credit Card Rewards Strategy?

Post by SrGrumpy » Fri Jul 21, 2017 8:06 pm

+1 on "tread cautiously." I like to beat the system as much as the next guy, but some of these manufactured spending deals were very Heath Robinson. Probably the best was buying rolls of dollar coins from the US Mint with a c/c - I believe postage was free? - and then taking them to the bank. People must have made fortunes before the Feds cottoned on. I'm just happy buying gift cards (Airbnb, Uber, etc.) at small discounts to face when they come on sale at Walmart and various eBay sites.

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

Post by CodeMaster » Fri Jul 21, 2017 8:42 pm

oh man.. buying coins is genius! but must be lot work hahaa can you still do that today?

i thikn best times were ibonds being able to purchased via CC fee free, but that ended in 2003 long time ago lol

yea.. im reading the forum quite heavily and am a bit surprised / shocked at hearing how many people speak of getting there accounts shut down from very same banks i use! scary... didnt know it was LEGAL to block LEGAL ACTIVITY such as manufacturered spending.

i really had no idea financial institutes hate this so much, im shocked to see how hard they lay you down with no warning and shut down even your related accounts adn any INVESTMENTS like IRAs if you are doing this despite it being completely legal!!!

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

Post by CodeMaster » Fri Jul 21, 2017 8:46 pm

Mudpuppy wrote:
CodeMaster wrote:
Drew777 wrote:
CodeMaster wrote:Thanks! Thats freaking genius lol

Is there anything else we can buy like that to max out rewards? I recalled long time ago people would max out by buying ibonds but now they charge a fee to purchase via credit card so thats over... just wondering if there was any other ways to get more rewards ? :sharebeer
There are tons of way, it's called manufactured spending. There aren't a lot of easy widely known methods right now, you'd have to do a lot of research and probably get in some private groups with people in the know who share deals to figure a lot of it out. But there are people doing 6 figures a month worth of manufactured spending. It takes time to learn and develop relationships, you can't just join a forum and expect them to give you circles and arrows explaining it all. You have to be able to contribute as well. Deals die when too many people learn about them. Lots of people like to say MS is dead. It's not true, just the easy over-publicized methods are dead.
cool... do you know any forums / sources of MS? im always happy to contribute what i can. :beer

edit: i found one so far, sharing it . thanks for giving me name of this whole technique, made it easy to find them!
here https://www.flyertalk.com/forum/manufac ... nding-719/
Tread cautiously, as credit card companies do not take too kindly to manufactured spending or extreme churners. It can, and has, gotten people "blacklisted" by a credit card company, which prevents people from getting any credit cards with that company. They can also deny credit at their company for many other "unsatisfactory prior relationship" and such a blacklist can last for years, or even decades. See this Doctor of Credit article for more information on blacklisting and account shutdowns: http://www.doctorofcredit.com/saving-yo ... -shutdown/

thanks for that link... it looks very scary and very real, ill prob not go extreme and just mainly stick with small sneak ins of a GC or somethign once in a while lol

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Re: What's Your Credit Card Rewards Strategy?

Post by Mudpuppy » Fri Jul 21, 2017 8:54 pm

CodeMaster wrote:i really had no idea financial institutes hate this so much, im shocked to see how hard they lay you down with no warning and shut down even your related accounts adn any INVESTMENTS like IRAs if you are doing this despite it being completely legal!!!
Legal is one thing. Maintaining compliance with their terms and conditions is another. Most of the rewards cards have terms and conditions against awarding rewards for cash-equivalents like gift cards. They'll typically overlook purchasing cash-equivalents on a small scale, such as if you buy a gift card along with a few other items at a retailer every now and again. But they reserve the right to shut down accounts for any perceived violation of their terms and conditions.

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Re: What's Your Credit Card Rewards Strategy?

Post by SrGrumpy » Fri Jul 21, 2017 8:57 pm

CodeMaster wrote:oh man.. buying coins is genius! but must be lot work hahaa can you still do that today?
There are gift shops at the Mint's D.C., Denver and Philadelphia locations. Whether you can buy $15,000 worth like this guy did is dubious:

https://www.riskology.co/the-day-i-bought-15000/

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

Post by CodeMaster » Fri Jul 21, 2017 9:16 pm

@MudPuppy good point... guess that makes sense. they seem to really hate MS and are unforgiving

@SrGrumpy, thats awesome & funny

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Re: What's Your Credit Card Rewards Strategy?

Post by FedGuy » Sat Jul 22, 2017 8:03 am

SrGrumpy wrote:There are gift shops at the Mint's D.C., Denver and Philadelphia locations. Whether you can buy $15,000 worth like this guy did is dubious:
I never did the "buy coins, deposit, pay off credit card, repeat" thing, but I closely followed forums in which it was discussed. There were people who had it down to a science. People were ordering huge quantities of coins every few days, paying off their credit cards multiple times per month to allow them to churn far more than their monthly credit limit, sharing strategies about depositing coins at multiple branches of multiple banks to spread the pain of counting and sorting the coins around and reduce the risk of being blacklisted, and so on. One guy posted that he had to have the rear axle on his pick-up reinforced to accommodate the weight of all the coins he'd drive around. No wonder the Mint shut that down.

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Re: What's Your Credit Card Rewards Strategy?

Post by dia » Sat Jul 22, 2017 8:52 am

Just two cards. Amex blue preferred for grocery and fuel. Citibank double cash for all else. The simple two card portfolio.
Success is walking from failure to failure with no loss of enthusiasm. --Winston Churchill

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

Post by CodeMaster » Sat Jul 22, 2017 11:13 am

FedGuy wrote:
SrGrumpy wrote:There are gift shops at the Mint's D.C., Denver and Philadelphia locations. Whether you can buy $15,000 worth like this guy did is dubious:
I never did the "buy coins, deposit, pay off credit card, repeat" thing, but I closely followed forums in which it was discussed. There were people who had it down to a science. People were ordering huge quantities of coins every few days, paying off their credit cards multiple times per month to allow them to churn far more than their monthly credit limit, sharing strategies about depositing coins at multiple branches of multiple banks to spread the pain of counting and sorting the coins around and reduce the risk of being blacklisted, and so on. One guy posted that he had to have the rear axle on his pick-up reinforced to accommodate the weight of all the coins he'd drive around. No wonder the Mint shut that down.
LOL... i missed out on all these awesome strategies back when it was still available.

What do you mean by Mint?

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

Post by SrGrumpy » Sat Jul 22, 2017 11:32 am

CodeMaster wrote:
FedGuy wrote:
SrGrumpy wrote:There are gift shops at the Mint's D.C., Denver and Philadelphia locations. Whether you can buy $15,000 worth like this guy did is dubious:
I never did the "buy coins, deposit, pay off credit card, repeat" thing, but I closely followed forums in which it was discussed. There were people who had it down to a science. People were ordering huge quantities of coins every few days, paying off their credit cards multiple times per month to allow them to churn far more than their monthly credit limit, sharing strategies about depositing coins at multiple branches of multiple banks to spread the pain of counting and sorting the coins around and reduce the risk of being blacklisted, and so on. One guy posted that he had to have the rear axle on his pick-up reinforced to accommodate the weight of all the coins he'd drive around. No wonder the Mint shut that down.
LOL... i missed out on all these awesome strategies back when it was still available.

What do you mean by Mint?
https://www.usmint.gov/

THY4373
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Re: What's Your Credit Card Rewards Strategy?

Post by THY4373 » Sat Jul 22, 2017 11:33 am

FedGuy wrote: No wonder the Mint shut that down.
The Mint let it go on for years, it didn't get shutdown for abuse but rather once the mainstream media picked up the story (NPR, et al) and the Mint started getting bad press. Hence why this stuff is discussed increasingly in private forums and even there info exchange is often limited. At this point you need some combination of creativity and living in the right location. I have some of both but I am lucky to live in a target rich environment though a little less than it once was.

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

Post by CodeMaster » Sat Jul 22, 2017 11:44 am

hahaa , thats brilliant with mint

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Re: What's Your Credit Card Rewards Strategy?

Post by sco » Sat Jul 22, 2017 9:35 pm

The Mint was just trying to move a product that they
1. Were required to make
2. We're not allowed to push another way (decreasing bill production)

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

Post by SVT » Mon Jul 31, 2017 6:35 am

Mainly for those of you who use Chase more for ongoing spend, how do you value UR points? I understand the answer to that will differ from person to person but I'm trying to reconcile the value of UR points versus the BofA pair of Cash Rewards and Travel Rewards with Preferred Rewards. Most (all?) bloggers and people on CC churning type sites seem to be unimpressed with Preferred Rewards, even with the 75% bonus.

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

Post by BeneIRA » Mon Jul 31, 2017 7:04 am

SVT wrote:Mainly for those of you who use Chase more for ongoing spend, how do you value UR points? I understand the answer to that will differ from person to person but I'm trying to reconcile the value of UR points versus the BofA pair of Cash Rewards and Travel Rewards with Preferred Rewards. Most (all?) bloggers and people on CC churning type sites seem to be unimpressed with Preferred Rewards, even with the 75% bonus.
The consensus in the non-blogger community seems to be 1.7 to 1.8 cents per point. If you transfer to partners and redeem for first class, obviously that is going to be more, but I don't value first class international fares at their cash price anyway. For me, it is closer to 1.5 or 1.6 cop since I usually use the UR portal to book flights. Transferring to a partner like Hyatt could yield 2 cop, though.

This has been discussed, but don't believe the values The Points Guy gives. He is paid by the credit card industry and thus, has some ridiculous valuations. His logical fallacy is believed that just because a point currency is more flexible, that means it is worth more. It's not. A dollar is still worth a dollar even though you can use it on anything.

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

Post by Jags4186 » Mon Jul 31, 2017 7:46 am

BeneIRA wrote:
SVT wrote:Mainly for those of you who use Chase more for ongoing spend, how do you value UR points? I understand the answer to that will differ from person to person but I'm trying to reconcile the value of UR points versus the BofA pair of Cash Rewards and Travel Rewards with Preferred Rewards. Most (all?) bloggers and people on CC churning type sites seem to be unimpressed with Preferred Rewards, even with the 75% bonus.
The consensus in the non-blogger community seems to be 1.7 to 1.8 cents per point. If you transfer to partners and redeem for first class, obviously that is going to be more, but I don't value first class international fares at their cash price anyway. For me, it is closer to 1.5 or 1.6 cop since I usually use the UR portal to book flights. Transferring to a partner like Hyatt could yield 2 cop, though.

This has been discussed, but don't believe the values The Points Guy gives. He is paid by the credit card industry and thus, has some ridiculous valuations. His logical fallacy is believed that just because a point currency is more flexible, that means it is worth more. It's not. A dollar is still worth a dollar even though you can use it on anything.
I value UR in the $0.014/pt range--and that's regardless of whether you have the Sapphire Reserve or just the Preferred. While I can point to a specific Hyatt redemption where I earned $0.04/pt, the reality is most of the time I end up getting around $0.015-$0.017 and I lose the ability to earn incremental cashback or points on those purchases so it brings be back down to $0.014.

I will say that the thing that is both great and bad about points is that it is emotionally easier to spend points than cash. For example, I have used 175,000 UR points to book a baller 7 night Hyatt Cat 6 hotel that would cost $500/night cash, but I don't think if my account had $3500 in it I would have used it for the hotel. Same token, I don't think if the account had $1750 (the cash equivalent) I would have used it for the hotel. But because it's "points" and not "cash" I just have an easier time spending them.

Case in point (dun dun dun), I just agonized for 3 weeks about upgrading my pretty much useless iPad 2 to an iPad Pro because I was spending cash. I have no problem throwing points around like they're going out of style even though they could easily be converted to cash and used to pay for said purchase. Once the cash is in my account it's mine...while it's still imaginary numbers on my screen it's not "mine" and much easier to part with.

Drew777
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Re: What's Your Credit Card Rewards Strategy?

Post by Drew777 » Mon Jul 31, 2017 8:03 am

Personally I value UR around 2.2 cpp. I typically transfer to Hyatt or Flying Blue and am usually able to redeem around that value. Sometimes more, sometimes less, but that's been about the average for me. I have transferred to Southwest once or twice just to top off the amount needed for a flight, and of course that's closer to 1.5 cpp. Most people probably don't value them that much, but I think 1.5 cpp is extremely low if you're using transfer partners. I can "sell" UR for close to 1.5 cpp so that's the minimum cash value for me. Of course that requires knowing people who would pay you to book flights/hotels for them, but I have no shortage of those.

Doom&Gloom
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Re: What's Your Credit Card Rewards Strategy?

Post by Doom&Gloom » Mon Jul 31, 2017 9:36 am

I receive 1.5 to 2c value from them. Maybe a bit more on rare occasions that wouldn't influence the average much.

But, more importantly, I "mentally" value them as being "worth more than a penny" which conveniently prevents me from doing something stupid with them.

Ron Ronnerson
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Re: What's Your Credit Card Rewards Strategy?

Post by Ron Ronnerson » Mon Jul 31, 2017 9:49 am

I value Chase points around 1.6. When I book hotels though Chase Sapphire Reserve, the rate is 1.5. I've gotten around 1.7 when booking flights by transferring the points to Southwest or United.

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

Post by Mudpuppy » Mon Jul 31, 2017 10:52 am

I think the reason point valuation for UR points for those with the CSR vary widely because you can transfer the points to travel partners, particularly if you are planning head for a vacation and you're flexible on the travel dates.

For my Hawaiian vacation, I was flexible with my travel dates and found an itinerary that only cost 45k United miles round-trip. That would have been $875 if booked as cash, but I got it for 45k points/miles, which was about 1.9 cents per point. Similarly, the hotel would have been about $600-800/night if booked as cash, but transferring points to Hyatt gets access to the 25-33k/night rewards rate for that level of hotel. That's about 2.4 cents per point. On the other hand, I could stay at less resort-like accommodations for $250-300/night, which would be about 17-20k points/night through the Chase portal, so really I'm just using the points to subsidize the fancier place.

But this was because I planned ahead. When I've booked for last-minute travel and had to use the Chase portal instead of the travel partner rewards programs, I've only received the nominal 1.5 cents per point (after verifying that the Chase portal prices match the market prices).

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

Post by jriding » Mon Jul 31, 2017 12:05 pm

I just had an interesting experience with the Chase Ultimate Rewards travel portal.

I needed to book a specific hotel for specific days in October. Booking through the Sheraton website offered a pre-paid, nonrefundable standard room rate of $164/night, or a refundable standard room rate for $184/night.

I decided to check the UR portal to see what was offered. To my surprise, I was able to book a refundable upgraded room for $154/night without using any points (I didn't have any points to spend).

I'd never thought of the UR travel portal as useful if I didn't have points to spend. But in this case the cash deal UR offered was better than booking directly though the hotel.

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

Post by SVT » Mon Jul 31, 2017 12:25 pm

jriding wrote:I just had an interesting experience with the Chase Ultimate Rewards travel portal.

I needed to book a specific hotel for specific days in October. Booking through the Sheraton website offered a pre-paid, nonrefundable standard room rate of $164/night, or a refundable standard room rate for $184/night.

I decided to check the UR portal to see what was offered. To my surprise, I was able to book a refundable upgraded room for $154/night without using any points (I didn't have any points to spend).

I'd never thought of the UR travel portal as useful if I didn't have points to spend. But in this case the cash deal UR offered was better than booking directly though the hotel.
Hmm, very interesting. Thanks for sharing that. I'll keep that in mind.

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

Post by Pranav » Mon Jul 31, 2017 12:47 pm

All,

We are planning for a trip to Hawaii (probably the Big Island) in late-September or early-October

With Chase, we have a Sapphire Reserve and 36,000 Ultimate Rewards points.

With AmEx, we have Premeir Rewards Gold, Green Card, and 79,000 Membership Rewards Points.

How shall we redeem old rewards and/or acquire new rewards as we book flights, hotel, transportation, etc.?

Thanks.
Pranav

FB01
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Re: What's Your Credit Card Rewards Strategy?

Post by FB01 » Mon Jul 31, 2017 12:52 pm

SVT wrote:
jriding wrote:I just had an interesting experience with the Chase Ultimate Rewards travel portal.

I needed to book a specific hotel for specific days in October. Booking through the Sheraton website offered a pre-paid, nonrefundable standard room rate of $164/night, or a refundable standard room rate for $184/night.

I decided to check the UR portal to see what was offered. To my surprise, I was able to book a refundable upgraded room for $154/night without using any points (I didn't have any points to spend).

I'd never thought of the UR travel portal as useful if I didn't have points to spend. But in this case the cash deal UR offered was better than booking directly though the hotel.
Hmm, very interesting. Thanks for sharing that. I'll keep that in mind.

Did you check the price of the same hotel in other websites like trivago.com, hotels.com, priceline.com..price is always higher when you book directly from the hotel's website..i think if you check other websites, you should see the same price of $154....

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

Post by ChiefIlliniwek » Mon Jul 31, 2017 1:42 pm

FB01 wrote:
SVT wrote:
jriding wrote:I just had an interesting experience with the Chase Ultimate Rewards travel portal.

I needed to book a specific hotel for specific days in October. Booking through the Sheraton website offered a pre-paid, nonrefundable standard room rate of $164/night, or a refundable standard room rate for $184/night.

I decided to check the UR portal to see what was offered. To my surprise, I was able to book a refundable upgraded room for $154/night without using any points (I didn't have any points to spend).

I'd never thought of the UR travel portal as useful if I didn't have points to spend. But in this case the cash deal UR offered was better than booking directly though the hotel.
Hmm, very interesting. Thanks for sharing that. I'll keep that in mind.

Did you check the price of the same hotel in other websites like trivago.com, hotels.com, priceline.com..price is always higher when you book directly from the hotel's website..i think if you check other websites, you should see the same price of $154....
The price isn't always higher on the hotel's website. It is most of the time but that is why you check everywhere to ensure you are getting the right price. Also when you don't book with the hotel you lose out on points from the chain, nights for status, and most of the time any perks from hotel status you have. Sometimes the free breakfast will make up for the discount you get by going through another website.

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

Post by jriding » Mon Jul 31, 2017 1:45 pm

FB01 wrote:
SVT wrote:
jriding wrote:I just had an interesting experience with the Chase Ultimate Rewards travel portal.

I needed to book a specific hotel for specific days in October. Booking through the Sheraton website offered a pre-paid, nonrefundable standard room rate of $164/night, or a refundable standard room rate for $184/night.

I decided to check the UR portal to see what was offered. To my surprise, I was able to book a refundable upgraded room for $154/night without using any points (I didn't have any points to spend).

I'd never thought of the UR travel portal as useful if I didn't have points to spend. But in this case the cash deal UR offered was better than booking directly though the hotel.
Hmm, very interesting. Thanks for sharing that. I'll keep that in mind.

Did you check the price of the same hotel in other websites like trivago.com, hotels.com, priceline.com..price is always higher when you book directly from the hotel's website..i think if you check other websites, you should see the same price of $154....
I had checked a few sites, including priceline. None of them offered a rate + cancellation policy that was better than the UR travel portal. To get a comparable rate you have to commit to a prepaid and non-refundable reservation.

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

Post by ResearchMed » Mon Jul 31, 2017 1:47 pm

ChiefIlliniwek wrote:
FB01 wrote:
SVT wrote:
jriding wrote:I just had an interesting experience with the Chase Ultimate Rewards travel portal.

I needed to book a specific hotel for specific days in October. Booking through the Sheraton website offered a pre-paid, nonrefundable standard room rate of $164/night, or a refundable standard room rate for $184/night.

I decided to check the UR portal to see what was offered. To my surprise, I was able to book a refundable upgraded room for $154/night without using any points (I didn't have any points to spend).

I'd never thought of the UR travel portal as useful if I didn't have points to spend. But in this case the cash deal UR offered was better than booking directly though the hotel.
Hmm, very interesting. Thanks for sharing that. I'll keep that in mind.

Did you check the price of the same hotel in other websites like trivago.com, hotels.com, priceline.com..price is always higher when you book directly from the hotel's website..i think if you check other websites, you should see the same price of $154....
The price isn't always higher on the hotel's website. It is most of the time but that is why you check everywhere to ensure you are getting the right price. Also when you don't book with the hotel you lose out on points from the chain, nights for status, and most of the time any perks from hotel status you have. Sometimes the free breakfast will make up for the discount you get by going through another website.
Some hotels will match a lower price from the Internet IF they can verify it (that is, if they can "see" it, too, on the same website).
And some will do that, plus deduct another 10%.

Mostly, however, I'm noticing that the various sites are seeming to quote the same price surprisingly often, or just $1-2 difference.
There don't seem to be as many "bargains" on the Internet hotel search websites as there were not too long ago.

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

Post by Bfwolf » Mon Jul 31, 2017 1:54 pm

Pranav wrote:All,

We are planning for a trip to Hawaii (probably the Big Island) in late-September or early-October

With Chase, we have a Sapphire Reserve and 36,000 Ultimate Rewards points.

With AmEx, we have Premeir Rewards Gold, Green Card, and 79,000 Membership Rewards Points.

How shall we redeem old rewards and/or acquire new rewards as we book flights, hotel, transportation, etc.?

Thanks.
You are really too late to be talking about acquiring new cards for a trip that's in 2 months.

It is possible for 2 people to fly roundtrip to Hawaii with 79K Amex points. Even more options if you get to 80K Amex points. But you've got to find availability. See this link for options: https://millionmilesecrets.com/2017/01/ ... i-flights/

You can get 1.5 cents per point in travel value from your URs with the CSR. Maybe you can use that to cover one or two of your hotel nights.

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