Best use of Chase points?

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EnjoyIt
Posts: 8244
Joined: Sun Dec 29, 2013 7:06 pm

Re: Best use of Chase points?

Post by EnjoyIt »

hiddenpower wrote: Mon Jun 05, 2023 3:15 pm They used to have a nice cashout 1.5x multiplier with restaurants using the CSR but I think they got rid of that. I also have a lot built up and have been hoarding. Not sure what to do just yet.
Hoarding points is a bad idea. Although chase doesn’t have a history of devaluations it could happen. Also, you could always get cash back at 1 cent per point and then invest it which is way better use than just sitting there doing nothing.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
theplayer11
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Re: Best use of Chase points?

Post by theplayer11 »

EnjoyIt wrote: Mon Jun 05, 2023 4:16 pm
hiddenpower wrote: Mon Jun 05, 2023 3:15 pm They used to have a nice cashout 1.5x multiplier with restaurants using the CSR but I think they got rid of that. I also have a lot built up and have been hoarding. Not sure what to do just yet.
Hoarding points is a bad idea. Although chase doesn’t have a history of devaluations it could happen. Also, you could always get cash back at 1 cent per point and then invest it which is way better use than just sitting there doing nothing.
I acquire as many points as I can through sign up bonuses and use when I need them. Rather have them than not.
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hiddenpower
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Re: Best use of Chase points?

Post by hiddenpower »

EnjoyIt wrote: Mon Jun 05, 2023 4:16 pm
hiddenpower wrote: Mon Jun 05, 2023 3:15 pm They used to have a nice cashout 1.5x multiplier with restaurants using the CSR but I think they got rid of that. I also have a lot built up and have been hoarding. Not sure what to do just yet.
Hoarding points is a bad idea. Although chase doesn’t have a history of devaluations it could happen. Also, you could always get cash back at 1 cent per point and then invest it which is way better use than just sitting there doing nothing.
You’re right. I’ve hoarded for years on end. Wish I cashed them all out during the restaurant multiplier deal.

With the multiplier dead, any suggestions?
EnjoyIt
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Joined: Sun Dec 29, 2013 7:06 pm

Re: Best use of Chase points?

Post by EnjoyIt »

theplayer11 wrote: Mon Jun 05, 2023 4:33 pm
EnjoyIt wrote: Mon Jun 05, 2023 4:16 pm
hiddenpower wrote: Mon Jun 05, 2023 3:15 pm They used to have a nice cashout 1.5x multiplier with restaurants using the CSR but I think they got rid of that. I also have a lot built up and have been hoarding. Not sure what to do just yet.
Hoarding points is a bad idea. Although chase doesn’t have a history of devaluations it could happen. Also, you could always get cash back at 1 cent per point and then invest it which is way better use than just sitting there doing nothing.
I acquire as many points as I can through sign up bonuses and use when I need them. Rather have them than not.
Using them is very different from hoarding them for years.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
EnjoyIt
Posts: 8244
Joined: Sun Dec 29, 2013 7:06 pm

Re: Best use of Chase points?

Post by EnjoyIt »

hiddenpower wrote: Mon Jun 05, 2023 5:01 pm
EnjoyIt wrote: Mon Jun 05, 2023 4:16 pm
hiddenpower wrote: Mon Jun 05, 2023 3:15 pm They used to have a nice cashout 1.5x multiplier with restaurants using the CSR but I think they got rid of that. I also have a lot built up and have been hoarding. Not sure what to do just yet.
Hoarding points is a bad idea. Although chase doesn’t have a history of devaluations it could happen. Also, you could always get cash back at 1 cent per point and then invest it which is way better use than just sitting there doing nothing.
You’re right. I’ve hoarded for years on end. Wish I cashed them all out during the restaurant multiplier deal.

With the multiplier dead, any suggestions?
In my humble opinion and I’m no expert, you have a few options.

1) Book some flights via chase portal at 1.5 cents per point.
2) Transfer them to a partner airline and book that way
3) Transfer for a Hyatt hotel stay which gets you about 2 cents per point.
4) Suck it up and try and get cash back at 1.25 cents per point on groceries by the end of this month. You may even consider getting a grocery gift card to use up all your points and then you will have “free” groceries for some time. You can also get other gift cards at the grocery store as well. Maybe you want to buy a new lawnmower at Home Depot. Get a home depo gift card at the grocery store and then use that to buy the lawn mower. You get the idea.
5) Wait and hope for the best.

If your not going to travel anytime soon then #4 isn’t a horrible deal.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
ZinCO
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Re: Best use of Chase points?

Post by ZinCO »

EnjoyIt wrote: Mon Jun 05, 2023 5:17 pm
4) Suck it up and try and get cash back at 1.25 cents per point on groceries by the end of this month. You may even consider getting a grocery gift card to use up all your points and then you will have “free” groceries for some time. You can also get other gift cards at the grocery store as well. Maybe you want to buy a new lawnmower at Home Depot. Get a home depo gift card at the grocery store and then use that to buy the lawn mower. You get the idea.

If your not going to travel anytime soon then #4 isn’t a horrible deal.
Groceries at 1.25 cents has been renewed for another 90 days, so you don't even have to do it by the end of the month.
bendix
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Re: Best use of Chase points?

Post by bendix »

EnjoyIt wrote: Mon Jun 05, 2023 4:16 pm
hiddenpower wrote: Mon Jun 05, 2023 3:15 pm They used to have a nice cashout 1.5x multiplier with restaurants using the CSR but I think they got rid of that. I also have a lot built up and have been hoarding. Not sure what to do just yet.
Hoarding points is a bad idea. Although chase doesn’t have a history of devaluations it could happen. Also, you could always get cash back at 1 cent per point and then invest it which is way better use than just sitting there doing nothing.
Chase hasnt devalued them but the transfer partners sure have.
e5116
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Joined: Mon Oct 05, 2009 11:22 am

Re: Best use of Chase points?

Post by e5116 »

theplayer11 wrote: Sat Jun 03, 2023 5:21 pm
Theseus wrote: Sat Jun 03, 2023 4:15 pm
Cruise wrote: Sat Jun 03, 2023 2:16 am
newyorker wrote: Fri Jun 02, 2023 11:31 pm I have unused chase credit worth around $1300 in cashback. Is there any better way to get this than a straight cashback? There used to be able to pay my bill for 25 percent discount (which is now unavailable).

Only good thing seems like 15 percent discount on apple product. I may get an apple product in the future (just for the sake of using this points). Or should I simply get cashback?

Thank you!
It appears you have 130,000 points? Convert those to UA miles and depending on you travel plans, you may be able to redeem for an international one-way business class trip. That easily could be worth $5K.
I convert to UA only when I find a flight that suits me. Not before that as I can use Chase points for other things. Once I transfer to UA, it's pretty much for the flights.

But you can fly business class to Europe for 70k-80k points - if your dates are flexible and destination works out for you. I just flew business to Budapest for 80k miles last month.
You can fly east coast or Chi-Madrid in J for 34k points off peak, 50k peak on Iberia..great value, especially with 3 Chase cards offering 75-100k avios points sign up bonuses.
I've done a similar redemption twice in the past given Avios mile based chart, but taxes and fees have gone up substantially. Not as bad as BA fuel charges, but Iberia is still like $260 per person in economy now (RT) when you pay with Avios. So, the point value needed may be relatively low, but it's not a "free" flight so you have to do the math subtracted out the 260 from what the cash fare would be....

Maybe I missed this but why would a person who doesn't travel get a Chase Sapphire card -- it's intended to be a TRAVEL card. If you don't travel, you're in the wrong credit card ecosystem and should be looking for cash back or something.
safari
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Re: Best use of Chase points?

Post by safari »

e5116 wrote: Mon Jun 05, 2023 10:52 pm Maybe I missed this but why would a person who doesn't travel get a Chase Sapphire card -- it's intended to be a TRAVEL card. If you don't travel, you're in the wrong credit card ecosystem and should be looking for cash back or something.
A lot of people got a Sapphire card because of the generous bonuses. For example, Sapphire Preferred has been offering the sign up bonus of 90,000 points in branches. That's $900 when redeemed for cash. None of the straight cash back cards come close to that, even considering the annual fee, which is only $95 on that card.
theplayer11
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Joined: Tue Jul 22, 2014 8:55 pm

Re: Best use of Chase points?

Post by theplayer11 »

e5116 wrote: Mon Jun 05, 2023 10:52 pm
theplayer11 wrote: Sat Jun 03, 2023 5:21 pm
Theseus wrote: Sat Jun 03, 2023 4:15 pm
Cruise wrote: Sat Jun 03, 2023 2:16 am
newyorker wrote: Fri Jun 02, 2023 11:31 pm I have unused chase credit worth around $1300 in cashback. Is there any better way to get this than a straight cashback? There used to be able to pay my bill for 25 percent discount (which is now unavailable).

Only good thing seems like 15 percent discount on apple product. I may get an apple product in the future (just for the sake of using this points). Or should I simply get cashback?

Thank you!
It appears you have 130,000 points? Convert those to UA miles and depending on you travel plans, you may be able to redeem for an international one-way business class trip. That easily could be worth $5K.
I convert to UA only when I find a flight that suits me. Not before that as I can use Chase points for other things. Once I transfer to UA, it's pretty much for the flights.

But you can fly business class to Europe for 70k-80k points - if your dates are flexible and destination works out for you. I just flew business to Budapest for 80k miles last month.
You can fly east coast or Chi-Madrid in J for 34k points off peak, 50k peak on Iberia..great value, especially with 3 Chase cards offering 75-100k avios points sign up bonuses.
I've done a similar redemption twice in the past given Avios mile based chart, but taxes and fees have gone up substantially. Not as bad as BA fuel charges, but Iberia is still like $260 per person in economy now (RT) when you pay with Avios. So, the point value needed may be relatively low, but it's not a "free" flight so you have to do the math subtracted out the 260 from what the cash fare would be....

the value is flying in business, not economy.
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