What's Your Credit Card Rewards Strategy?

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koryg75
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Re: What's Your Credit Card Rewards Strategy?

Post by koryg75 » Mon Jan 28, 2019 10:03 pm

I think if you travel internationally the Barclays WorldArrival Mastercard is a good card. Not “straight” 2% back but it gives a little over 2% back when you use it for rebate on travel and no foreign transaction fees. The $89 annual fee is pretty easily negated by the no foreign transaction fees. A little more work than the doublecash it worth it in my opinion if you travel.

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

Post by BeneIRA » Mon Jan 28, 2019 11:02 pm

koryg75 wrote:
Mon Jan 28, 2019 10:03 pm
I think if you travel internationally the Barclays WorldArrival Mastercard is a good card. Not “straight” 2% back but it gives a little over 2% back when you use it for rebate on travel and no foreign transaction fees. The $89 annual fee is pretty easily negated by the no foreign transaction fees. A little more work than the doublecash it worth it in my opinion if you travel.
I would rather have a Chase Sapphire Preferred/Reserve or a basic Capital One card, which all have no foreign transaction fees, over the Arrival+. The Arrival is the perfect card to get the bonus and dump. The minimum to redeem for credit is too high. The Venture, for instance, has no foreign transaction fees, is a Visa, has a good sign up bonus, no minimums for redemption, has transferable points, and they usually waive the annual fee.

Also, on the math, foreign transaction fees are usually between 2.7% and 3%. You would have to spend $2,966.67 to break even.

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

Post by old_bean » Mon Jan 28, 2019 11:22 pm

My go to cards are:

“Core four” personal cards
JP Morgan Reserve - 3x UR on travel and dining (4.5%)
Chase Freedom Unlimited - 1.5x on general spend (2.25%)
Chase Amazon Prime - Cash back on Amazon and Whole Foods (5%)
Amex Schwab Platinum - 5x MR on flights (if not using the Reserve) (minimum 6.25% cash value)

Have them all loaded in Apple Pay so typically only carry just the JPMR and Platinum card.

Business cards
Amex Business Gold and Chase Ink Preferred are used for the majority of business expenses. They have bonus categories (5x MR and 3x UR respectively) for up to $150k spend per year on each card that I max out on marketing spend. I also have an Amex blue business plus that I put some recurring expenses on to capture the 2x MR on a $50k annual limit

Thankfully, due to growing business spend I generate quite a lot of points which pays for all of our travel needs. Going forward we may look towards the BofA platinum rewards and travel rewards Visa combination to focus on cash back. Support through JP Morgan Chase Executive line is amazing though so wouldn’t want to give that up.

michaeljc70
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Re: What's Your Credit Card Rewards Strategy?

Post by michaeljc70 » Tue Jan 29, 2019 1:19 am

Does anyone keep a spreadsheet of their cards? Is there any existing spreadsheet someone created? What I am thinking is it would list all generally available reward cards with bonuses. You enter your start and stop date, and when bonus was received. It would tell you when you are next eligible. As a bonus, it would handle Chase 5/24.

I have done a hiatus on most new cards (did open a Chase Ink Business for 100k.) But I am not sure what I can open next without bouncing all over the place to look at terms, when I closed an account, when I opened one, when I got the bonus, etc.

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

Post by Bfwolf » Tue Jan 29, 2019 2:35 am

michaeljc70 wrote:
Tue Jan 29, 2019 1:19 am
Does anyone keep a spreadsheet of their cards? Is there any existing spreadsheet someone created? What I am thinking is it would list all generally available reward cards with bonuses. You enter your start and stop date, and when bonus was received. It would tell you when you are next eligible. As a bonus, it would handle Chase 5/24.

I have done a hiatus on most new cards (did open a Chase Ink Business for 100k.) But I am not sure what I can open next without bouncing all over the place to look at terms, when I closed an account, when I opened one, when I got the bonus, etc.
I think this site would be of interest to you:

https://travelfreely.net/

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

Post by snowox » Tue Jan 29, 2019 8:17 am

JBTX wrote:
Fri Feb 09, 2018 12:38 pm
In terms of sign up bonuses, I feel like I've kind of hit a wall. I have arbitrarily set a minimum of $500 signup bonus minimum, and have avoided anything over $100 annual fee.

This year I did

Capital One Venture - $500
Merril Card - $500
BOA Premium - $500
Amegy Business - $1000

I tried one of the chase cards but was rejected because I am over 5/24 - and will likely be for some time, so they are off the table. If I had it to do over again, I would have started with them.

I've looked on Dr of credit and didn't see any new ones that meet my above criteria. Any other ideas?

Savor is 500$ on a 3k spend. Easy one too to get approved on.

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

Post by JBTX » Tue Jan 29, 2019 10:09 am

snowox wrote:
Tue Jan 29, 2019 8:17 am
JBTX wrote:
Fri Feb 09, 2018 12:38 pm
In terms of sign up bonuses, I feel like I've kind of hit a wall. I have arbitrarily set a minimum of $500 signup bonus minimum, and have avoided anything over $100 annual fee.

This year I did

Capital One Venture - $500
Merril Card - $500
BOA Premium - $500
Amegy Business - $1000

I tried one of the chase cards but was rejected because I am over 5/24 - and will likely be for some time, so they are off the table. If I had it to do over again, I would have started with them.

I've looked on Dr of credit and didn't see any new ones that meet my above criteria. Any other ideas?

Savor is 500$ on a 3k spend. Easy one too to get approved on.
Thanks. I already had a savor that was no fee and grandfathered so can't do that, but I did do one for DW. Since that post have done a couple for her, and have since hit pretty much all the chase cards with big bonuses - via promotional offers that pop up time to time bypassing 5/24. I keep thinking I've hit a wall but new opportunities keep popping up.

Also did a couple of citi thank you cards, but yet to see bonus points. Citi really sucks. I tried to open a bank account with them and they just shut it down due to fraud but won't tell me why and said I have wsit for a letter, but at the same time sent an email saying to send them a check.

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

Post by Jags4186 » Tue Jan 29, 2019 10:22 am

I’ve truly scraped the bottom of the barrel on card bonuses and it has become extremely difficult to get approved for anything. Over the past 5 years, between my wife and me, we’v easily signed up for over 100 cards.

My last go around with my wife was in November and we each got BoA Cash rewards for $200 after $500 spend and BoA Travel Rewards for $250 after $1000 spend. My wife also did Citi Premier 60k/$4k spend in the last few months.

We both cannot get approved at Barclays/Capital One (fortunately we each have had several Arrival+ cards, but neither of us have ever gotten a Capital One card) and recently we were both rejected for TD Bank Cash Rewards $200 bonus cards. We are way over 5/24 so Chase is out. We’ve also had pretty much every AMEX card so those are all out. I am 2/24’d at Citi for any Thankyou points cards and now so is my wife.

It was a good run! Will have to chill for a while now. Fortunately banks are still paying out lucrative checking/saving bonuses although those are all taxable :|

I’ve whittled my “daily use” cards down to the following:

AMEX Gold, 4x Restaurants & Grocery stores
Citi Premier, 3x travel
AMEX Blue Business Plus, 2x everywhere
Citi Doublecash, 2% CB, price rewind, 2 year extended warranty

I’ll sprinkle in 5x spend on Freedom/Ink Cash every now and then, but this is what’s in the wallet every day.

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

Post by Ketawa » Tue Jan 29, 2019 10:24 am

michaeljc70 wrote:
Tue Jan 29, 2019 1:19 am
Does anyone keep a spreadsheet of their cards? Is there any existing spreadsheet someone created? What I am thinking is it would list all generally available reward cards with bonuses. You enter your start and stop date, and when bonus was received. It would tell you when you are next eligible. As a bonus, it would handle Chase 5/24.

I have done a hiatus on most new cards (did open a Chase Ink Business for 100k.) But I am not sure what I can open next without bouncing all over the place to look at terms, when I closed an account, when I opened one, when I got the bonus, etc.
I have a spreadsheet to keep track of all my credit card stuff. One worksheet is every card with:

Date applied
Date closed (if applicable)
Date bonus received (if applicable)
Bonus spend requirement
What was the bonus?
Notes, etc

Another worksheet, I keep track of all bonus spend categories and which card I should use for which. I also note all the annual free gift whatever bonuses, since I'd forget otherwise. I have 23 open cards so it's helpful to organize myself.

Grouped by: Carry Often, Use Sometimes, Never Used, Closed
Rewards Currency
No FTF?
Best Option For
Other Bonus Categories

DoC has a useful spreadsheet of historical credit card bonuses, although it hasn't been updated in a year: https://www.doctorofcredit.com/spreadsh ... r-issuers/. I also refer to the list of best signup bonuses for additional ideas of what to apply for next: https://www.doctorofcredit.com/best-cur ... n-bonuses/.

koryg75
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Re: What's Your Credit Card Rewards Strategy?

Post by koryg75 » Tue Jan 29, 2019 10:48 am

Were I in a United hub city I’d for sure still be hammering the Reserve/Freedom/Ink cards. Alas I’m in a Delta city which isn’t quite as lucrative. But even outside a United hub those Reseve 100,000 UR bonuses got me lots of free travel before the FlyingBlue devaluation nonsense.

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

Post by old_bean » Tue Jan 29, 2019 10:56 am

michaeljc70 wrote:
Tue Jan 29, 2019 1:19 am
Does anyone keep a spreadsheet of their cards? Is there any existing spreadsheet someone created? What I am thinking is it would list all generally available reward cards with bonuses. You enter your start and stop date, and when bonus was received. It would tell you when you are next eligible. As a bonus, it would handle Chase 5/24.

I have done a hiatus on most new cards (did open a Chase Ink Business for 100k.) But I am not sure what I can open next without bouncing all over the place to look at terms, when I closed an account, when I opened one, when I got the bonus, etc.
If you regularly open new cards and/or have 10+ credit cards to manage a tracker spreadsheet is very helpful (just like many people here use a spreadsheet to keep track of their investments and asset allocations).

Here is a link to one that I used as a starting point: https://docs.google.com/spreadsheets/d/ ... edit#gid=0

Credit to u/garettg from the r/churning subreddit for creating this. Link to the original reddit post

michaeljc70
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Re: What's Your Credit Card Rewards Strategy?

Post by michaeljc70 » Tue Jan 29, 2019 1:07 pm

I am mostly interested in bonuses that are or convert to AA/UAL miles. I don't mind big cash bonuses either (>$600). Will those cards tell you when you apply if you are not eligible for the bonus (due to waiting period)? Or will I be approved, do my spend and sit there waiting for my bonus that is never going to come?

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

Post by ginmqi » Tue Jan 29, 2019 1:44 pm

old_bean wrote:
Tue Jan 29, 2019 10:56 am
michaeljc70 wrote:
Tue Jan 29, 2019 1:19 am
Does anyone keep a spreadsheet of their cards? Is there any existing spreadsheet someone created? What I am thinking is it would list all generally available reward cards with bonuses. You enter your start and stop date, and when bonus was received. It would tell you when you are next eligible. As a bonus, it would handle Chase 5/24.

I have done a hiatus on most new cards (did open a Chase Ink Business for 100k.) But I am not sure what I can open next without bouncing all over the place to look at terms, when I closed an account, when I opened one, when I got the bonus, etc.
If you regularly open new cards and/or have 10+ credit cards to manage a tracker spreadsheet is very helpful (just like many people here use a spreadsheet to keep track of their investments and asset allocations).

Here is a link to one that I used as a starting point: https://docs.google.com/spreadsheets/d/ ... edit#gid=0

Credit to u/garettg from the r/churning subreddit for creating this. Link to the original reddit post
Wow that's super helpful thanks!!!

I am just getting a bit more serious into the cc churning game and that helps alot.

So I have some chase cards and a barclays frontier card that I've had for like 2-3 years and have no idea when they were opened initially. Are there ways to tell when those cards were opened exactly (through chase or through credit karma I guess?)

Sucks that I didn't keep meticulous track, but I'll have to guesstimate when those bonuses posted years ago....but with the Sapphire card having that 48mo rule it pretty much kills those cards anyway....

Again thanks a ton for that sheet.

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

Post by old_bean » Tue Jan 29, 2019 3:09 pm

ginmqi wrote:
Tue Jan 29, 2019 1:44 pm
Wow that's super helpful thanks!!!

I am just getting a bit more serious into the cc churning game and that helps alot.

So I have some chase cards and a barclays frontier card that I've had for like 2-3 years and have no idea when they were opened initially. Are there ways to tell when those cards were opened exactly (through chase or through credit karma I guess?)

Sucks that I didn't keep meticulous track, but I'll have to guesstimate when those bonuses posted years ago....but with the Sapphire card having that 48mo rule it pretty much kills those cards anyway....

Again thanks a ton for that sheet.
You can review your credit report somewhere like Credit Karma. Otherwise, you can call the number the back of your credit card (one call per credit card provider) and find out exact dates for things like open dates, annual fee dates, statement dates, payment due dates etc. They'll also be able to tell you when you last earned a bonus.

hoops777
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Re: What's Your Credit Card Rewards Strategy?

Post by hoops777 » Tue Jan 29, 2019 3:58 pm

BeneIRA wrote:
Mon Jan 28, 2019 11:02 pm
koryg75 wrote:
Mon Jan 28, 2019 10:03 pm
I think if you travel internationally the Barclays WorldArrival Mastercard is a good card. Not “straight” 2% back but it gives a little over 2% back when you use it for rebate on travel and no foreign transaction fees. The $89 annual fee is pretty easily negated by the no foreign transaction fees. A little more work than the doublecash it worth it in my opinion if you travel.
I would rather have a Chase Sapphire Preferred/Reserve or a basic Capital One card, which all have no foreign transaction fees, over the Arrival+. The Arrival is the perfect card to get the bonus and dump. The minimum to redeem for credit is too high. The Venture, for instance, has no foreign transaction fees, is a Visa, has a good sign up bonus, no minimums for redemption, has transferable points, and they usually waive the annual fee.

Also, on the math, foreign transaction fees are usually between 2.7% and 3%. You would have to spend $2,966.67 to break even.
I applied for the arrival card and they wanted me to send them copies of my SS card,drivers license,utility bill,etc.I applied for the Chase SWA at the same time and had the card in my hand within 2 weeks or so.I have never been asked to mail in personal ID stuff before and I even had a Barclay card a couple years ago that I cancelled.I unfroze my credit so I was not happy.I just let it go and refused to mail in the stuff.
K.I.S.S........so easy to say so difficult to do.

Saving$
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Re: What's Your Credit Card Rewards Strategy?

Post by Saving$ » Tue Jan 29, 2019 8:15 pm

SpaghettiMonster wrote:
Mon Jan 28, 2019 9:23 pm
My cards are:
Citi Sears Card - for about the past 3 years, they've offered 10% back on gas/groceries/restaurants for at least $200/month up to a max of $1500/month. For quarters without this offer, they've offered 5-10% back on travel or online purchases.
USAA AMEX - got this one a very long time ago. 3% back on gas, 2% back on groceries, 1% on everything else.
Chase Amazon Visa - 5% back on Amazon purchases, 1% on everything else. I pretty much only use this at Costco warehouses/gas stations.
Citi Double Rewards - 2% back.

We don't travel much, so we're more interested in cash back cards.
Don't do much credit card applying switching, but I do have an infrequently (under $25/year) used Citi Sears MasterCard. I don't think the card has any cash back...it gets both Shop Your Way points and ThankYou Citi points. I've never used either as I don't really understand them. I have certainly never been offered 5-10% back on anything - how do you get and/or see these offers?

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

Post by munemaker » Tue Jan 29, 2019 8:55 pm

Saving$ wrote:
Tue Jan 29, 2019 8:15 pm
I have certainly never been offered 5-10% back on anything - how do you get and/or see these offers?
A good place to start would be to see the Doctor --> https://www.doctorofcredit.com/credit-cards/

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

Post by munemaker » Tue Jan 29, 2019 9:00 pm

Applied and was approved for the Capital One Savor Rewards card. Charge $3,000 in 3 months and receive $500 cash reward. $95 annual fee is waived the first year. I think it gives 4% back on restaurants.

The one really strange thing about this is, on the Capital One web site, they (like many other CC issuers) provide you with a free credit score, Vantage in this case- which they say is 828. What's strange is when they sent me the approval letter for the Savor Rewards card, they give my credit score as 788, obviously a different score system - FICO?. So even they don't even use the score they provide to you. The free score seems pretty worthless.

Saving$
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Re: What's Your Credit Card Rewards Strategy?

Post by Saving$ » Tue Jan 29, 2019 9:35 pm

munemaker wrote:
Tue Jan 29, 2019 8:55 pm
Saving$ wrote:
Tue Jan 29, 2019 8:15 pm
I have certainly never been offered 5-10% back on anything - how do you get and/or see these offers?
A good place to start would be to see the Doctor --> https://www.doctorofcredit.com/credit-cards/
Thanks. I should have done a better job of wording my question: I have certainly never been offered 5-10% back on anything - how do you get and/or see these offers for the Sears Citi Card?

michaeljc70
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Re: What's Your Credit Card Rewards Strategy?

Post by michaeljc70 » Tue Jan 29, 2019 9:39 pm

Saving$ wrote:
Tue Jan 29, 2019 9:35 pm
munemaker wrote:
Tue Jan 29, 2019 8:55 pm
Saving$ wrote:
Tue Jan 29, 2019 8:15 pm
I have certainly never been offered 5-10% back on anything - how do you get and/or see these offers?
A good place to start would be to see the Doctor --> https://www.doctorofcredit.com/credit-cards/
Thanks. I should have done a better job of wording my question: I have certainly never been offered 5-10% back on anything - how do you get and/or see these offers for the Sears Citi Card?
Maybe a better question is if the rewards will be honored in bankruptcy court :oops:

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

Post by ginmqi » Wed Jan 30, 2019 1:10 pm

old_bean wrote:
Tue Jan 29, 2019 3:09 pm
You can review your credit report somewhere like Credit Karma. Otherwise, you can call the number the back of your credit card (one call per credit card provider) and find out exact dates for things like open dates, annual fee dates, statement dates, payment due dates etc. They'll also be able to tell you when you last earned a bonus.
Ah I see, very nice! Sometimes the old fashioned way works the best! Thank you! :sharebeer

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

Post by SpaghettiMonster » Thu Jan 31, 2019 8:25 am

Saving$ wrote:
Tue Jan 29, 2019 8:15 pm
SpaghettiMonster wrote:
Mon Jan 28, 2019 9:23 pm
My cards are:
Citi Sears Card - for about the past 3 years, they've offered 10% back on gas/groceries/restaurants for at least $200/month up to a max of $1500/month. For quarters without this offer, they've offered 5-10% back on travel or online purchases.
USAA AMEX - got this one a very long time ago. 3% back on gas, 2% back on groceries, 1% on everything else.
Chase Amazon Visa - 5% back on Amazon purchases, 1% on everything else. I pretty much only use this at Costco warehouses/gas stations.
Citi Double Rewards - 2% back.

We don't travel much, so we're more interested in cash back cards.
Don't do much credit card applying switching, but I do have an infrequently (under $25/year) used Citi Sears MasterCard. I don't think the card has any cash back...it gets both Shop Your Way points and ThankYou Citi points. I've never used either as I don't really understand them. I have certainly never been offered 5-10% back on anything - how do you get and/or see these offers?
Re: the Sears card, I really don't do anything. I've had this card since 2006 and there were no rewards up until 4-5 years ago. Then out of the blue I started receiving emailed offers to activate to get these rewards. I'm assuming that they've had to do it to stay competitive. I earn several hundred to a thousand dollars a year from this Sears Card.

gvsucavie03
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Re: What's Your Credit Card Rewards Strategy?

Post by gvsucavie03 » Thu Jan 31, 2019 8:22 pm

PSA:

Sorry if this is a repeat... I don't read every post on this thread.

Chase Sapphire Preferred is issuing offers through the online banking portal that supercedes the 5/24 rule. My understanding is you must have the offer in your online bank (not sure if email offers supercede as I was denied in the past).

My wife and I are both LOL/24, so I got one for both of us. Planning a Disney trip and using the $1,150 in rewards!

DrGoogle2017
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Re: What's Your Credit Card Rewards Strategy?

Post by DrGoogle2017 » Sun Feb 03, 2019 1:37 am

My husband received a solicited offer from City Premier Card, I think I might try to apply to chase Ink business card first for the 80,000 points before I apply to this one. Just in case Chase will turn it down. This will pay for our business or maybe first class to Japan. Can’t wait.

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

Post by SlowMovingInvestor » Sun Feb 03, 2019 7:47 am

gvsucavie03 wrote:
Thu Jan 31, 2019 8:22 pm
PSA:

Sorry if this is a repeat... I don't read every post on this thread.

Chase Sapphire Preferred is issuing offers through the online banking portal that supercedes the 5/24 rule. My understanding is you must have the offer in your online bank (not sure if email offers supercede as I was denied in the past).
if I am eligible, where would I expect to see this ? In the 'Just for You' section when I login ? I see offers for Business Checking, but nothing else.

I don't think I've told Chase my income level in my profile, if that makes a difference in terms of getting targeted. And I would prefer not to tell Chase my income if it makes no difference in whether I am targeted or not.

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

Post by StopIroningShirts » Sun Feb 03, 2019 8:10 am

munemaker wrote:
Tue Jan 29, 2019 9:00 pm
Applied and was approved for the Capital One Savor Rewards card. Charge $3,000 in 3 months and receive $500 cash reward. $95 annual fee is waived the first year. I think it gives 4% back on restaurants.

The one really strange thing about this is, on the Capital One web site, they (like many other CC issuers) provide you with a free credit score, Vantage in this case- which they say is 828. What's strange is when they sent me the approval letter for the Savor Rewards card, they give my credit score as 788, obviously a different score system - FICO?. So even they don't even use the score they provide to you. The free score seems pretty worthless.
I want to second this post - If you're under 5/24 to qualify, this is the easiest money I've ever made on credit card rewards.

Hit minimum spend, $530 posts before the statement even cuts and you can wipe it against your charges or request a check. 17.6% rebate rate. I just paid my property taxes with it and ate a 2.2% transaction fee and completely worth it.

bck63
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Re: What's Your Credit Card Rewards Strategy?

Post by bck63 » Sun Feb 03, 2019 8:53 am

My credit card strategy is to avoid using them. I've never heard a millionaire say, "Oh I got rich because of my cash back and my points!!" It's all a big scam to TAKE YOUR MONEY. I'm not saying they can't be used responsibly, but the "perks" are nothing but marketing ploys and will do nothing to increase your net worth. Save, save, save. That is the key factor in building wealth.

Credit card companies are pond scum.

michaeljc70
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Re: What's Your Credit Card Rewards Strategy?

Post by michaeljc70 » Sun Feb 03, 2019 1:53 pm

bck63 wrote:
Sun Feb 03, 2019 8:53 am
My credit card strategy is to avoid using them. I've never heard a millionaire say, "Oh I got rich because of my cash back and my points!!" It's all a big scam to TAKE YOUR MONEY. I'm not saying they can't be used responsibly, but the "perks" are nothing but marketing ploys and will do nothing to increase your net worth. Save, save, save. That is the key factor in building wealth.

Credit card companies are pond scum.
No one ever got rich by skipping Starbucks everyday either, but a lot of little thing can add up over time.

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

Post by THY4373 » Sun Feb 03, 2019 2:03 pm

bck63 wrote:
Sun Feb 03, 2019 8:53 am
My credit card strategy is to avoid using them. I've never heard a millionaire say, "Oh I got rich because of my cash back and my points!!" It's all a big scam to TAKE YOUR MONEY. I'm not saying they can't be used responsibly, but the "perks" are nothing but marketing ploys and will do nothing to increase your net worth. Save, save, save. That is the key factor in building wealth.

Credit card companies are pond scum.
I in fact do know folks who are millionaires who made some of their wealth from credit card rewards. Just because you don't see a way, doesn't mean there isn't one.

gvsucavie03
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Re: What's Your Credit Card Rewards Strategy?

Post by gvsucavie03 » Sun Feb 03, 2019 2:17 pm

SlowMovingInvestor wrote:
Sun Feb 03, 2019 7:47 am
gvsucavie03 wrote:
Thu Jan 31, 2019 8:22 pm
PSA:

Sorry if this is a repeat... I don't read every post on this thread.

Chase Sapphire Preferred is issuing offers through the online banking portal that supercedes the 5/24 rule. My understanding is you must have the offer in your online bank (not sure if email offers supercede as I was denied in the past).
if I am eligible, where would I expect to see this ? In the 'Just for You' section when I login ? I see offers for Business Checking, but nothing else.

I don't think I've told Chase my income level in my profile, if that makes a difference in terms of getting targeted. And I would prefer not to tell Chase my income if it makes no difference in whether I am targeted or not.
Under your listed accounts at-a-glance on the landing page... check for the 50,000 points promo offer. DON'T CLOSE THE WINDOW if you intend to apply, it disappears. Luckily it popped back up when I logged in on a computer.

bck63
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Re: What's Your Credit Card Rewards Strategy?

Post by bck63 » Sun Feb 03, 2019 8:48 pm

THY4373 wrote:
Sun Feb 03, 2019 2:03 pm
bck63 wrote:
Sun Feb 03, 2019 8:53 am
My credit card strategy is to avoid using them. I've never heard a millionaire say, "Oh I got rich because of my cash back and my points!!" It's all a big scam to TAKE YOUR MONEY. I'm not saying they can't be used responsibly, but the "perks" are nothing but marketing ploys and will do nothing to increase your net worth. Save, save, save. That is the key factor in building wealth.

Credit card companies are pond scum.
I in fact do know folks who are millionaires who made some of their wealth from credit card rewards. Just because you don't see a way, doesn't mean there isn't one.
Loan sharks, racketeers and pond scum.

michaeljc70
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Re: What's Your Credit Card Rewards Strategy?

Post by michaeljc70 » Sun Feb 03, 2019 8:54 pm

bck63 wrote:
Sun Feb 03, 2019 8:48 pm
THY4373 wrote:
Sun Feb 03, 2019 2:03 pm
bck63 wrote:
Sun Feb 03, 2019 8:53 am
My credit card strategy is to avoid using them. I've never heard a millionaire say, "Oh I got rich because of my cash back and my points!!" It's all a big scam to TAKE YOUR MONEY. I'm not saying they can't be used responsibly, but the "perks" are nothing but marketing ploys and will do nothing to increase your net worth. Save, save, save. That is the key factor in building wealth.

Credit card companies are pond scum.
I in fact do know folks who are millionaires who made some of their wealth from credit card rewards. Just because you don't see a way, doesn't mean there isn't one.
Loan sharks, racketeers and pond scum.
It is great there are people like you that pay the credit card fees built into prices just about everywhere but don't get the interest free loan or rewards. Otherwise the system probably wouldn't work.

I haven't paid credit card interest or late fees in probably 20 years and probably have gotten at least $20k in rewards. $20k won't make me rich, but it isn't chump change either.

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

Post by TravelforFun » Sun Feb 03, 2019 11:53 pm

THY4373 wrote:
Sun Feb 03, 2019 2:03 pm
bck63 wrote:
Sun Feb 03, 2019 8:53 am
My credit card strategy is to avoid using them. I've never heard a millionaire say, "Oh I got rich because of my cash back and my points!!" It's all a big scam to TAKE YOUR MONEY. I'm not saying they can't be used responsibly, but the "perks" are nothing but marketing ploys and will do nothing to increase your net worth. Save, save, save. That is the key factor in building wealth.

Credit card companies are pond scum.
I in fact do know folks who are millionaires who made some of their wealth from credit card rewards. Just because you don't see a way, doesn't mean there isn't one.
Credit card rewards can save you a lot of money from cash back to free airfares and hotel rooms. I've been taking advantage of credit card rewards for over 20 years and never had to pay late fees or interests; and I'm in the two-comma club.

TravelforFun

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

Post by algorithm » Mon Feb 04, 2019 1:12 am

Bank of America Cash Rewards for the category you choose (3% cash back and up to 5.25% cash back if you are enrolled in Bank of America Preferred program),

UBER visa for dining (4% cash back),

Costco visa for gas and travel purchases (3% cash back),

American Express Blue Cash for grocery purchases (3% cash back),

Amazon visa for Amazon and Whole Food Markets purchases (5% cash back),

Chase Freedom, and Discover card for purchases in quarterly categories (5% cash back),

and Citi Double Cash card for all other purchases (2% cash back).


https://www.hotpersonalfinance.com/maxi ... dit-cards/

gvsucavie03
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Re: What's Your Credit Card Rewards Strategy?

Post by gvsucavie03 » Mon Feb 04, 2019 7:42 am

bck63 wrote:
Sun Feb 03, 2019 8:53 am
My credit card strategy is to avoid using them. I've never heard a millionaire say, "Oh I got rich because of my cash back and my points!!" It's all a big scam to TAKE YOUR MONEY. I'm not saying they can't be used responsibly, but the "perks" are nothing but marketing ploys and will do nothing to increase your net worth. Save, save, save. That is the key factor in building wealth.

Credit card companies are pond scum.
I've also never paid a penny in late fees or interest. Couple thousand or so a year in rewards. This year we will take 2 50,000 point bonus offers and redeem them for a Disney trip we are planning for March 2020. It'll be about $1,250 in savings.

Just by how you phrase your post you sound like you listen to Dave Ramsey. If you search earlier this thread, I also trashed cc companies and users. Now I have a few cards I use regularly and responsibly. All are set to pay the statement balance in full every month. I take advantage of modest rewards on things I've been budgeting for for years. We learned responsible spending and saving long before having a cc. Certainly there are those that the cc companies hope to hook that run up fees and interest, I'd guess that this is not folks who frequent this forum.

bck63
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Re: What's Your Credit Card Rewards Strategy?

Post by bck63 » Mon Feb 04, 2019 3:41 pm

gvsucavie03 wrote:
Mon Feb 04, 2019 7:42 am
bck63 wrote:
Sun Feb 03, 2019 8:53 am
My credit card strategy is to avoid using them. I've never heard a millionaire say, "Oh I got rich because of my cash back and my points!!" It's all a big scam to TAKE YOUR MONEY. I'm not saying they can't be used responsibly, but the "perks" are nothing but marketing ploys and will do nothing to increase your net worth. Save, save, save. That is the key factor in building wealth.

Credit card companies are pond scum.
I've also never paid a penny in late fees or interest. Couple thousand or so a year in rewards. This year we will take 2 50,000 point bonus offers and redeem them for a Disney trip we are planning for March 2020. It'll be about $1,250 in savings.

Just by how you phrase your post you sound like you listen to Dave Ramsey. If you search earlier this thread, I also trashed cc companies and users. Now I have a few cards I use regularly and responsibly. All are set to pay the statement balance in full every month. I take advantage of modest rewards on things I've been budgeting for for years. We learned responsible spending and saving long before having a cc. Certainly there are those that the cc companies hope to hook that run up fees and interest, I'd guess that this is not folks who frequent this forum.
I hear you. It's just that when I was younger I got way in over my head with credit cards and it just put a bad taste in my mouth. I use them rarely, and always pay off the full statement balance. I have cards with points and cash back on them. But I just don't spend that much money. I like to shovel my cash into investments.

I think on the whole, credit card companies use perks to target people who will max out their cards. I'd like to say that I'm morally opposed to the credit card industry, but when I look at my total stock market fund, I see that much of it is backed by credit card debt. This issue has always been an ethical conundrum for me.

At then end of the day, my FICO is 832 and I'd rather forego the perks and minimize my use of them. I think my goal would be ten years of expenses in cash and a FICO of zero. Maybe after we pay off the mortgage we'll get there.

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

Post by mrmass » Mon Feb 04, 2019 3:53 pm

I use one card. Alliant Visa Signature. 3% CB for first year after that 2.5% with AF of $59. I charge about $20K yr

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

Post by LadyGeek » Mon Feb 04, 2019 4:41 pm

I removed an off-topic post regarding a negative opinion of credit card companies. The discussion is getting derailed.

The points have been made, let's move on.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

slyfox1357
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Re: What's Your Credit Card Rewards Strategy?

Post by slyfox1357 » Mon Feb 04, 2019 4:52 pm

AMEX Platinum (Travel)
AMEX Gold (4% back Dining / 4% back Supermarkets + Vons App)
Chase Freedom (Rotating 5% back categories)
Target (5% back - All Store + Cartwheel)
Amazon Visa (5% back - All Amazon)
Ebates - Stacking on all online purchases, including Amazon (0-5%)

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

Post by spammagnet » Tue Feb 05, 2019 2:00 am

koryg75 wrote:
Tue Jan 29, 2019 10:48 am
Were I in a United hub city I’d for sure still be hammering the Reserve/Freedom/Ink cards. Alas I’m in a Delta city which isn’t quite as lucrative.
How does United vs Delta affect the benefits of the Chase cards you mention. None are tied to an airline.

Mister A
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Re: What's Your Credit Card Rewards Strategy?

Post by Mister A » Tue Feb 05, 2019 6:55 am

spammagnet wrote:
Tue Feb 05, 2019 2:00 am
How does United vs Delta affect the benefits of the Chase cards you mention. None are tied to an airline.
United is a Chase Ultimate Rewards transfer partner. Delta is American Express.

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

Post by aristotelian » Tue Feb 05, 2019 7:30 am

hoops777 wrote:
Tue Jan 29, 2019 3:58 pm
I applied for the arrival card and they wanted me to send them copies of my SS card,drivers license,utility bill,etc.I applied for the Chase SWA at the same time and had the card in my hand within 2 weeks or so.I have never been asked to mail in personal ID stuff before and I even had a Barclay card a couple years ago that I cancelled.I unfroze my credit so I was not happy.I just let it go and refused to mail in the stuff.
Weird. I just got this card and got applied on the spot. I did not freeze my credit at Experian.

I agree with the above that the annual fee is just barely not worth it as a keeper card, but 70K points is hard to pass up.

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

Post by spammagnet » Tue Feb 05, 2019 8:55 am

Mister A wrote:
Tue Feb 05, 2019 6:55 am
United is a Chase Ultimate Rewards transfer partner. Delta is American Express.
Thanks for the clarification. That will cause you to value them differently, for sure. I was thinking in terms of being airline-branded, not a transfer partner.

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

Post by ginmqi » Tue Feb 05, 2019 10:35 pm

aristotelian wrote:
Tue Feb 05, 2019 7:30 am
hoops777 wrote:
Tue Jan 29, 2019 3:58 pm
I applied for the arrival card and they wanted me to send them copies of my SS card,drivers license,utility bill,etc.I applied for the Chase SWA at the same time and had the card in my hand within 2 weeks or so.I have never been asked to mail in personal ID stuff before and I even had a Barclay card a couple years ago that I cancelled.I unfroze my credit so I was not happy.I just let it go and refused to mail in the stuff.
Weird. I just got this card and got applied on the spot. I did not freeze my credit at Experian.

I agree with the above that the annual fee is just barely not worth it as a keeper card, but 70K points is hard to pass up.
I just got approved for the Barclays Arrival+ card, the 70k bonus is quite nice.

I also agree that the AF is not worth it after you use up the bonus. If there is a no AF card to down grade into, that'd be perfect. But pretty much I'd likely close it out after I have it for about a year or so. At least 1st year AF Is waived so that's nice

DrGoogle2017
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Re: What's Your Credit Card Rewards Strategy?

Post by DrGoogle2017 » Sun Feb 10, 2019 12:20 pm

I just found out that Capitol One Spark Business gives you up to 200,000 miles, direct transfer to Cathay Airlines or even Singapore Air, the transfer ratio is 2:1.5.

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

Post by SlowMovingInvestor » Sun Feb 10, 2019 12:23 pm

DrGoogle2017 wrote:
Sun Feb 10, 2019 12:20 pm
I just found out that Capitol One Spark Business gives you up to 200,000 miles, direct transfer to Cathay Airlines or even Singapore Air, I know where I’m going to take my business there. Good bye British Airways VISA card, hello Capitol One.
I believe the 200K miles offer has expired.

DrGoogle2017
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Re: What's Your Credit Card Rewards Strategy?

Post by DrGoogle2017 » Mon Feb 11, 2019 11:46 am

SlowMovingInvestor wrote:
Sun Feb 10, 2019 12:23 pm
DrGoogle2017 wrote:
Sun Feb 10, 2019 12:20 pm
I just found out that Capitol One Spark Business gives you up to 200,000 miles, direct transfer to Cathay Airlines or even Singapore Air, I know where I’m going to take my business there. Good bye British Airways VISA card, hello Capitol One.
I believe the 200K miles offer has expired.
Ok, I’m rethinking this card anyway. The 2:1.5 ratio may not be as good. Thanks for the info.

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

Post by VictoriaF » Tue Feb 12, 2019 8:49 am

GeoffD wrote:
Mon Sep 17, 2018 1:44 pm
VictoriaF wrote:
Mon Sep 17, 2018 12:57 pm

I did not know about non-red eye flights to Europe. Thank you for mentioning them!
There are day flights to London-Heathrow from Boston, JFK, Newark, Chicago, and Dulles. Using British Airways and American FT points from BOS or JFK, you can connect the next day to wherever you're going in Europe for no additional points. I think the same is true from ORD on American. I don't know if that's possible on United from EWR or IAD. They fee you to death compared to other options but it's way easier on my system. BOS-LHR-FCO 1-way is $198 in fees plus some bucks to BA for seats. Coming home on Lufthansa using United points was $80 in fees and Lufthansa doesn't charge for seat selection.

I've been using Boston day flights to Heathrow exclusively for 20+ years to get to Europe. Check in at a Heathrow airport hotel, Indian food and a few beers, sleep in a real bed, leisurely English Breakfast, and continue on my way. I've also figured out the free bus service within Heathrow rather than get gouged by Hotel Hoppa. I do Eurostar through the Chunnel to Paris occasionally.

With cash tickets rather than FT points, it's less desirable since you have to connect over Heathrow on your way home rather than take a nonstop from your European city. 1-way transatlantic flights cost a fortune.
Geoff,

I want to thank you again for describing this excellent option for travel to Europe. I don't like to miss a night's sleep and started flying Business class from the U.S. to Europe to have a chance to sleep. A few days ago, my trans-Atlantic carrier has changed the aircraft and downgraded me to Economy. After several rounds of correspondence, I have received a refund for that flight and started anew. A day flight IAD-LHR became my best option.

To relate this to the credit card rewards strategy:
- I transferred my Chase UR points to get the day flight for 30k miles and $5.60. The cash price of this flight is over $1,600.
- I found several Marriott, Hilton and Holiday Inn hotels in the vicinity of IAD and LHR, among which I will choose where spend nights before flying out of IAD and then out of LHR, using my reward points with these hotel programs.
- Flights from LHR to LUX start at $59, but I will pay more to take a later flight and get more sleep.
- I purchased with Chase UR-United miles a direct flight BRU-IAD for 30k miles + $52.

In summary, my original plan was to fly in Business BWI-FRA for $2,100. The flights would be comfortable, but the transportation to and from BWI and FRA would take a lot of time, with a high risk that a delay could derail my travel. Now, I am flying IAD-LHR, LHR-LUX and BRU-IAD, without losing any sleep, with easy transportation on both ends, for a cash price of about $200 (depending on my LHR-LUX flight) plus points.

For my needs, this is a credit card strategy at its best.

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

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

Post by VictoriaF » Tue Feb 12, 2019 9:36 am

VictoriaF wrote:
Tue Feb 12, 2019 8:49 am
- I found several Marriott, Hilton and Holiday Inn hotels in the vicinity of IAD and LHR, among which I will choose where spend nights before flying out of IAD and then out of LHR, using my reward points with these hotel programs.
Can I check in my luggage the night before the flight?
1. I will arrive to IAD (Washington-Dulles) at night for the 8 AM flight on United the next morning. Can I check my luggage in and go to the hotel with just a small bag?
2. I will arrive to LHR (Heathrow) at night for the next-day flight. I have not selected the airline and flight yet. Does my ability to check luggage in depend on the airport or airline?

As a side comment, should I expect greater delays when flying LHR-LUX after Brexit?

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

DrGoogle2017
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Re: What's Your Credit Card Rewards Strategy?

Post by DrGoogle2017 » Tue Feb 12, 2019 11:52 am

We always fly to London first and rest there a few days. But after one more big trip, we’re going to break our trip into two segments to London, like from LAX to New York or Boston, rest a few days there and fly from there to London. This way we don’t really need a business class comfort and paying the high business taxes for frequent miles from Avios. It’s better for our bodies, but the down side is we have to queue in long line when we get there. One of the perks with business class is that you don’t wait in long line.

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