Understanding the World of Credit Card "Points"

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Cruise
Posts: 621
Joined: Mon Nov 21, 2016 7:17 pm

Re: Understanding the World of Credit Card "Points"

Post by Cruise » Tue Dec 05, 2017 1:35 am

Small Law Survivor wrote:
Mon Dec 04, 2017 10:35 am
I've recently become aware that there is a whole world of credit card points out there. Yes, I was vaguely aware of this, but I ignored it completely - just didn't have time to deal with it.
There are levels of dealing with cc points/miles. One can get involved in cc signup bonuses, or just get a card or two that helps you meet your goals. My wife and I signed up for United/Chase cards when they were first introduced, and between our spend and our flying, we have not paid airfare for our annual vacation in over 30 years. Most of our flights have been in international first. We have never churned cards, and never needed to do so.

Small Law Survivor
Posts: 533
Joined: Tue Nov 17, 2015 5:36 pm

Re: Understanding the World of Credit Card "Points"

Post by Small Law Survivor » Tue Dec 05, 2017 10:46 am

mega317 wrote:
Tue Dec 05, 2017 1:05 am
viewtopic.php?t=192008

Here is a 2k+ post thread on this topic. Should cover your free time for the month.
Ah, ok .... :happy

BW1985
Posts: 1750
Joined: Tue Mar 23, 2010 6:12 pm

Re: Understanding the World of Credit Card "Points"

Post by BW1985 » Tue Dec 05, 2017 2:36 pm

DrGoogle2017 wrote:
Tue Dec 05, 2017 1:17 am
deltaneutral83 wrote:
Mon Dec 04, 2017 5:41 pm
I admit I had to chuckle at the post about equifax hack and applying for credit cards. The two events certainly are exclusive from one another.
Hey at least that’s the excuse I gave American Express to close my last card. Beside I’ve opened everything under American Express. Chase has rejected my application because I have opened more than 5. So that’s why I’m not playing anymore. I’ve milked the system for all it’s worth.
FYI Not all Chase cards are subject to 5/24. You could get the Hyatt, IHG, BA, etc.
"Squirrels figured out how to save eons ago. They buried acorns. Some, they dug up, for food. Others, they let to sprout, in new oak trees. We could learn from squirrels." -john94549

DrGoogle2017
Posts: 1322
Joined: Mon Aug 14, 2017 12:31 pm

Re: Understanding the World of Credit Card "Points"

Post by DrGoogle2017 » Tue Dec 05, 2017 3:17 pm

BW1985 wrote:
Tue Dec 05, 2017 2:36 pm
DrGoogle2017 wrote:
Tue Dec 05, 2017 1:17 am
deltaneutral83 wrote:
Mon Dec 04, 2017 5:41 pm
I admit I had to chuckle at the post about equifax hack and applying for credit cards. The two events certainly are exclusive from one another.
Hey at least that’s the excuse I gave American Express to close my last card. Beside I’ve opened everything under American Express. Chase has rejected my application because I have opened more than 5. So that’s why I’m not playing anymore. I’ve milked the system for all it’s worth.
FYI Not all Chase cards are subject to 5/24. You could get the Hyatt, IHG, BA, etc.
I don’t want those hotel cards. I have British Airways already. Unless you mean BA as a Bank of America. I prefer to get cash back from my Costco card.

BW1985
Posts: 1750
Joined: Tue Mar 23, 2010 6:12 pm

Re: Understanding the World of Credit Card "Points"

Post by BW1985 » Tue Dec 05, 2017 3:19 pm

DrGoogle2017 wrote:
Tue Dec 05, 2017 3:17 pm
BW1985 wrote:
Tue Dec 05, 2017 2:36 pm
DrGoogle2017 wrote:
Tue Dec 05, 2017 1:17 am
deltaneutral83 wrote:
Mon Dec 04, 2017 5:41 pm
I admit I had to chuckle at the post about equifax hack and applying for credit cards. The two events certainly are exclusive from one another.
Hey at least that’s the excuse I gave American Express to close my last card. Beside I’ve opened everything under American Express. Chase has rejected my application because I have opened more than 5. So that’s why I’m not playing anymore. I’ve milked the system for all it’s worth.
FYI Not all Chase cards are subject to 5/24. You could get the Hyatt, IHG, BA, etc.
I don’t want those hotel cards. I have British Airways already. Unless you mean BA as a Bank of America. I prefer to get cash back from my Costco card.
No I meant British Airways. To each their own.
"Squirrels figured out how to save eons ago. They buried acorns. Some, they dug up, for food. Others, they let to sprout, in new oak trees. We could learn from squirrels." -john94549

DrGoogle2017
Posts: 1322
Joined: Mon Aug 14, 2017 12:31 pm

Re: Understanding the World of Credit Card "Points"

Post by DrGoogle2017 » Tue Dec 05, 2017 3:23 pm

BW1985 wrote:
Tue Dec 05, 2017 3:19 pm
DrGoogle2017 wrote:
Tue Dec 05, 2017 3:17 pm
BW1985 wrote:
Tue Dec 05, 2017 2:36 pm
DrGoogle2017 wrote:
Tue Dec 05, 2017 1:17 am
deltaneutral83 wrote:
Mon Dec 04, 2017 5:41 pm
I admit I had to chuckle at the post about equifax hack and applying for credit cards. The two events certainly are exclusive from one another.
Hey at least that’s the excuse I gave American Express to close my last card. Beside I’ve opened everything under American Express. Chase has rejected my application because I have opened more than 5. So that’s why I’m not playing anymore. I’ve milked the system for all it’s worth.
FYI Not all Chase cards are subject to 5/24. You could get the Hyatt, IHG, BA, etc.
I don’t want those hotel cards. I have British Airways already. Unless you mean BA as a Bank of America. I prefer to get cash back from my Costco card.
No I meant British Airways. To each their own.
Yeah, I have it already for my husband. I will wait for 2 years to get mine and then close his. I’ll get another big bonus then. But right now I have lots of miles already in our combined account. Enough that I get another free business class ticket from LAX to London.
Last edited by DrGoogle2017 on Tue Dec 05, 2017 3:24 pm, edited 2 times in total.

Nate79
Posts: 3500
Joined: Thu Aug 11, 2016 6:24 pm
Location: Portland, OR

Re: Understanding the World of Credit Card "Points"

Post by Nate79 » Tue Dec 05, 2017 3:23 pm

Credit card churning and point bonuses are really being scrutinized by the card companies right now, with rules getting tighter and tighter. AMEX has started to retroactively remove sign up bonus points from accounts that they have found out later violated a policy. For example, one common manufactured spending that people do is buy gift cards ($k worth) to meet the minimum spend requirements, which is a violation of the terms because gift cards are not allowed spend. AMEX has caught onto this game and started to remove issued points to card holders after the fact.

Chase has started to tighten their 5/24 policy. And other card companies are starting to put in similar policies.

DrGoogle2017
Posts: 1322
Joined: Mon Aug 14, 2017 12:31 pm

Re: Understanding the World of Credit Card "Points"

Post by DrGoogle2017 » Tue Dec 05, 2017 3:26 pm

Yeah, I’ve read that but I never had to buy any gift cards, but I timed my purchase and vacation before I opened another card. That’s how I got through almost 14-20 cards. All cut off and cancelled the minute I harvested the bonus.

BW1985
Posts: 1750
Joined: Tue Mar 23, 2010 6:12 pm

Re: Understanding the World of Credit Card "Points"

Post by BW1985 » Tue Dec 05, 2017 3:52 pm

Nate79 wrote:
Tue Dec 05, 2017 3:23 pm
Credit card churning and point bonuses are really being scrutinized by the card companies right now, with rules getting tighter and tighter. AMEX has started to retroactively remove sign up bonus points from accounts that they have found out later violated a policy. For example, one common manufactured spending that people do is buy gift cards ($k worth) to meet the minimum spend requirements, which is a violation of the terms because gift cards are not allowed spend. AMEX has caught onto this game and started to remove issued points to card holders after the fact.

Chase has started to tighten their 5/24 policy. And other card companies are starting to put in similar policies.
Agree about AMEX. They have a new rewards abuse team (RAT's) now dedicated to this.

Chase though I don't see how they've tightened anything. They've been using 5/24, I don't think anything has changed there. It's been tight.
"Squirrels figured out how to save eons ago. They buried acorns. Some, they dug up, for food. Others, they let to sprout, in new oak trees. We could learn from squirrels." -john94549

CW47
Posts: 28
Joined: Wed Oct 08, 2014 2:48 pm

Re: Understanding the World of Credit Card "Points"

Post by CW47 » Tue Dec 05, 2017 6:16 pm

munemaker wrote:
Mon Dec 04, 2017 12:48 pm
If you want to know about credit card bonuses, see the doctor:

https://www.doctorofcredit.com/credit-cards/
+1 to doc or reddit.com/r/churning. Do NOT read the points guy and take it for gospel. He will suggest cards that are not at their highest points offers just because they make money off affiliate links or advertising. Doc of credit is the best. I've been doing this as a side hobby for a few years. I don't manufacture spend so crack downs on that aren't a concern. Just be smart about it and play the game for free/cheap vacations. My credit score has improved since doing this (around 822) so the only down side is if you are bad at handling your money and you overspend. Good luck.

iasw
Posts: 166
Joined: Mon Dec 05, 2016 2:02 pm

Re: Understanding the World of Credit Card "Points"

Post by iasw » Tue Dec 05, 2017 7:15 pm

For me, my credit cards/points strategy helps my family (married, 3 kids) travel more often and with better accommodations than if we didn't use points. When my husband travels for work, he pays his own air/hotel/car and gets reimbursed, so he sticks with Marriott/SPG or Hyatt, and Southwest when he can to rack up the loyalty points, and he keeps the credit card points on that.

With his Sapphire Reserve, he has some additional perks for travel and that helps.

I do use sign-up bonuses as a big boost, but rather than open and close lots of cards, I try to just accumulate ones that I will likely keep for at least a few years because their spending structure and points system are worth it.

We've saved thousands of dollars thanks to sign-up bonuses and regular spending. I will keep on playing this game! It's a fun hobby.

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