Credit card spending $20000

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OneWorld111
Posts: 151
Joined: Tue Mar 20, 2012 9:59 am

Credit card spending $20000

Post by OneWorld111 » Thu Sep 20, 2018 9:06 pm

Hi BHs-

Looking for a CC advise with

1) excellent cash back or air miles
2) any signing up bonuses and
3) preferably No foreign transaction fees
4) ofcourse no annual fee unless free first year and no restriction to cancel 2nd year

Will be spending $15-20k in 1-2 months..most on airlines tickets hence looking for new CC

Thanks OneWorld
Last edited by OneWorld111 on Thu Sep 20, 2018 9:13 pm, edited 2 times in total.

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fortfun
Posts: 1102
Joined: Tue Apr 19, 2016 7:31 pm

Re: Credit card spending $20000

Post by fortfun » Thu Sep 20, 2018 9:09 pm

OneWorld111 wrote:
Thu Sep 20, 2018 9:06 pm
Hi BHs-

Looking for a CC advise with

1) excellent cash back or air miles
2) any signing up bonuses and
3) preferably No foreign transaction fees
4) ofcourse no annual fee unless free first year and no restriction to cancel 2nd year

Will be spending $15-20k in 1-2 months..hence looking for new CC

Thanks OneWorld
Chase Sapphire
Cap One Venture
Cap One Savor
Citi Thankyou

There's a good credit card thread on the subject. Search for "your rewards strategy."

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Flobes
Posts: 989
Joined: Tue Feb 16, 2010 12:40 am

Re: Credit card spending $20000

Post by Flobes » Thu Sep 20, 2018 10:14 pm

Alliant Credit Union, VISA Signature Card.
Alliant Credit Union VISA Signature Card

First year: 3% cash back on everything (no limits), no foreign transaction fees, annual fee waived.
After: 2.5% cash back, $59 annual fee, (cancelable).

There have been several Forum threads about this card. It's targeted to high-income earneers. Lots of documentation may be required with the application if you're not a loyal good Alliant customer.

masteraleph
Posts: 587
Joined: Wed Nov 04, 2009 9:45 am

Re: Credit card spending $20000

Post by masteraleph » Thu Sep 20, 2018 10:16 pm

OneWorld111 wrote:
Thu Sep 20, 2018 9:06 pm
Hi BHs-

Looking for a CC advise with

1) excellent cash back or air miles
2) any signing up bonuses and
3) preferably No foreign transaction fees
4) ofcourse no annual fee unless free first year and no restriction to cancel 2nd year

Will be spending $15-20k in 1-2 months..most on airlines tickets hence looking for new CC

Thanks OneWorld
1) There are a number of these. Any particular airline or alliance? Do you use multiple airlines/alliances?
2) That's exactly what you're looking for, since it tends to be the biggest benefit.
4) I wouldn't necessarily say "of course." Many of the best cards right now do have fees (though sometimes waved in year 1), and the sign up bonuses are usually commensurate with that.

The other question is what you want from the card in terms of benefits. Trip delay insurance built in? Lounge access? Primary rental car collision insurance (no one covers liability, but you can skip the rental agency collision agreement)?

For example:

Amex Platinum is showing 100,000 point offers for some people if you hit the spending minimum. It's a $550 fee the first year, they'll cover $200 in airlines incidentals (things like extra bags or economy plus), as well as $15/month on Uber, $100 at Saks, at you get lounge access. You can generally transfer the points to airlines, though rates may vary, and you get 5% on travel. No FTFs

Citi's AAdvantage Platinum is offering 60,000 American miles with the spending minimum. No FTFs, free first bag for you and companions and mid-tier boarding (after all the elites). Free the first year, no ftf.

Citi ThankYou Premier is 60,000 points with the spending minimum. $99 fee, waved the first year. Can be transferred to airline partners, or points redeem at 1.25 cents/point if you book airfare through them. No ftf. 3% on travel, 2% on dining.

Chase Sapphire Reserve is $450/year, with $300 in travel credits. 50,000 point sign up bonus with spending minimum, lounge access, rental car collision, no ftf. Points are worth 1.5 cents/point on their travel portal, or can transfer to partners. 3% on travel and dining. Sapphire Premier is similar, but a $95 fee that's waved the first year and no travel credits. Points are 1.25% on their portal, and lacks other perks like lounge access.

There are plenty more out there, but the bottom line is you should be able to find something that's going to give you around 50-60,000 points after spending $3-4,000 without a fee from many of the big banks, or you pay a fee that's partially refunded through other offers and pick up perks along with it.

In terms of lounge access- Amex Platinum gets you the best generic access (Centurion lounges, Priority Pass Select for you + 2 guests, and Delta when you're flying Delta). Sapphire Reserve is just PP Select. There's a high fee United card that gets you United lounge access too.

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whodidntante
Posts: 4185
Joined: Thu Jan 21, 2016 11:11 pm

Re: Credit card spending $20000

Post by whodidntante » Thu Sep 20, 2018 10:21 pm

You will probably be best served by opening several new cards. BoA Premium, Citi TYP, AmEx Platinum (annual fee unavoidable though), Chase Sapphire Preferred, CapOne Savor, and maybe an airline card or a hotel card with a high spending requirement.

AlphaLess
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Location: Kentucky
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Re: Credit card spending $20000

Post by AlphaLess » Thu Sep 20, 2018 10:56 pm

I recommend finding the cards with the best sign-up bonuses.

The Points Guy has a miles and points valuation (that are a bit high), but still good start.

For $20K spend, I would open 4-5 cards, spread over two people, and get the bonuses on all of them.

Obligatory caveats about temporarily knocking of your credit score when you open new accounts (inquiries plus new as yet un-aged accounts).
"You can get more with a kind word and a gun than with just a kind word." George Washington

Peppergrass
Posts: 46
Joined: Tue Mar 27, 2018 7:25 pm

Re: Credit card spending $20000

Post by Peppergrass » Thu Sep 20, 2018 11:28 pm

I would use whatever bank you deal with, because why deal with another bill / place you have to log into... ..... isn't simplicity the highest form of intelligence

20k isn't something to worry about really, as it's not going to do a whole lot.. worrying and trying to figure out the best to me is going to counter any benefits you receive, as "time is money" and researching for 20k in points isn't near life changing in any regard

don't do AMEX, it's for people in 7 brackets higher who then get charged yearly fees. Also I believe chase sapphire is a fee card too

if you really want, there is dozens of sites reviewing CC, and these guys are on top of their game laying out categories of what you wan tit for ( cash back, travel.. .. )

Minty
Posts: 165
Joined: Sun Mar 24, 2013 3:19 pm
Location: NorCal

Re: Credit card spending $20000

Post by Minty » Thu Sep 20, 2018 11:35 pm

My vote is AmEx Platinum. 5 points per dollar on airline tickets. Points are worth about a penny apiece. First year, it is clearly worth it because the bonus points cover the $550 membership fee. It might be worth it after that (it is to me), based on the $200 airline fee reimbursement (can be used for gift cards on some airlines), $200 in Uber reimbursement, $100 in Saks reimbursement, airport lounge access, and elite status in Starwood and Hilton.

But I agree with those who suggest that with a $20K spend, you might do four cards and four bonuses. Bon voyage!
Core Four with nominal bonds and TIPS.

HereToLearn
Posts: 200
Joined: Sat Mar 17, 2018 5:53 pm

Re: Credit card spending $20000

Post by HereToLearn » Thu Sep 20, 2018 11:44 pm

As others have mentioned, there are a few different cards that award 50K points after spending $3000 within first three months. These cards are free the first year, but then charge $95/year. Capital One and Delta AmEx are two off the top of my head. If you do not want to bother with trying to use the points to purchase more airline tickets (best reimbursement usually), you can apply the points to travel-related expenses on your Capital One statement.

I would check out The Points Guy to figure out which cards will provide the best leverage for your planned travel purchases. Some offer attractive hotel programs (fourth night free).

MikeG62
Posts: 1176
Joined: Tue Nov 15, 2016 3:20 pm
Location: New Jersey

Re: Credit card spending $20000

Post by MikeG62 » Fri Sep 21, 2018 7:50 am

OneWorld111 wrote:
Thu Sep 20, 2018 9:06 pm
Hi BHs-

Looking for a CC advise with

1) excellent cash back or air miles
2) any signing up bonuses and
3) preferably No foreign transaction fees
4) ofcourse no annual fee unless free first year and no restriction to cancel 2nd year

Will be spending $15-20k in 1-2 months..most on airlines tickets hence looking for new CC

Thanks OneWorld
If on air travel, I would consider opening co-branded cards with the airline(s) you will be flying on. You should be able to easily get decent bonus miles for hitting minimum spend levels on each (assuming you are flying on more than one airline). You'll likely get free checked bag(s) and priority boarding. Many waive first year fee too.
Real Knowledge Comes Only From Experience

aristotelian
Posts: 4789
Joined: Wed Jan 11, 2017 8:05 pm

Re: Credit card spending $20000

Post by aristotelian » Fri Sep 21, 2018 8:24 am

Cap One Quicksilver 1.5% cash back ticks all the boxes except sign on bonus. This is my all purpose card. If this is just a one time thing, there are cards with better bonuses, but if you are looking for a simple long term solution, I have been very happy with it.

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