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I'm having a bit of a difficult time deciding on a card. Current options being considered are the: - Citi Double Cash - AmEx Blue Cash Preferred - AmEx Premier Rewards Gold Basic monthly spending on credit cards categorized into typical rewards categories as follows: Groceries: $400/mo Gas: $100/mo All other: $1500/mo In addition, I have budgeted $6000/year for air travel and need to book $1000-1500 in tickets ASAP. This will most likely all be on American as they are based out of where I live. Also, due to a recent move and the associated one-time expenses like furniture, etc., in the next 6 months I expect to spend as follows: Furniture: $3000 Misc. Amazon: $3000 Am leaning toward the Blue Cash Preferred card due to (1) 6% back on groceries, and (2) the $450 initial bonus that, due to my expected outlay at Amazon.com, I'd likely be able to take advantage of in full. One nagging thought is that I should be looking at more travel focused cards, considering my annual outlay on airline tickets. Confirm/deny?
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Nov 7, 2016 15:50
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Sits on Pilster posted:One nagging thought is that I should be looking at more travel focused cards, considering my annual outlay on airline tickets. Confirm/deny? If you haven't signed up for many cards within the last 2 years and you're flying that much (or paying that much for flights), I'd probably suggest the chase sapphire preferred or chase sapphire reserve. You'd likely be able to get some of those flights for free with the bonuses at first and additional ones as you spend a lot in flights and decrease your annual airline ticket budget. This may give you a better incentive on a yearly basis than a flat 2% cash back. Someone in here should be able to discuss the pros/cons of the CSP/CSR and the Amex PRG though.
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Nov 7, 2016 18:19
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Cacafuego posted:If you haven't signed up for many cards within the last 2 years and you're flying that much (or paying that much for flights), I'd probably suggest the chase sapphire preferred or chase sapphire reserve. You'd likely be able to get some of those flights for free with the bonuses at first and additional ones as you spend a lot in flights and decrease your annual airline ticket budget. This may give you a better incentive on a yearly basis than a flat 2% cash back. Will look into the two Chase cards mentioned and see if the fee for the CSR is justified in my case. Unfortunately I don't see my annual airline ticket budget decreasing any time soon. Parents and in-laws live on opposite sides of the globe.
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Nov 7, 2016 18:46
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Sits on Pilster posted:I'm having a bit of a difficult time deciding on a card. Current options being considered are the: Why not more than one card? You have a ton of spending so you shouldn't have a problem hitting the sign up bonuses
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Nov 7, 2016 19:32
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Sits on Pilster posted:Will look into the two Chase cards mentioned and see if the fee for the CSR is justified in my case. Unfortunately I don't see my annual airline ticket budget decreasing any time soon. Parents and in-laws live on opposite sides of the globe. Sorry, I meant you may be able to decrease the spending you do on airline tickets each year if you're getting the rewards flights for free from the points/miles you get from the chase cards/an airline card. Getting 2 free flights (for example) per year may be worth getting these cards because you'll be saving $ that you would have spent on flights.
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Nov 7, 2016 19:42
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Virtue posted:Why not more than one card? You have a ton of spending so you shouldn't have a problem hitting the sign up bonuses It's not out of the question but I just moved back to the States after 5 years abroad and have a very sparse credit history. I have actually already been denied for an Amex a couple months back, but that was before making initial payments on my mortage, internet, cell phones, etc. Am hoping my histories are a bit more populated now. Any idea how long it typically takes to get over a hump like that? Was thinking I'd start with one good card at first and then potentially branch out once I have a more established record. Cacafuego posted:Sorry, I meant you may be able to decrease the spending you do on airline tickets each year if you're getting the rewards flights for free from the points/miles you get from the chase cards/an airline card. Absolutely - this is one reason why I posted here. I will sit down and really analyze the options but wanted some goon recommendations to narrow down the playing field a bit.
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Nov 7, 2016 22:16
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So what's the goonpinion on the SPG and Marriott points transfer merger thing? Worth transferring Marriott points to SPG?
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Nov 10, 2016 18:10
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It's pretty much entirely dependent on what you're redeeming for and what options you had with the other brand.
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Nov 11, 2016 01:20
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Ended up deciding on the CSR as there is a >$1000 per year advantage for us versus the CSP as far as I can see. This is of course dependant on spending $4k in the first 90 days, after which we get points that can be redeemed for $1500 in plane tickets apparently. The plan is to exclusively use the CSR until we hit the threshold, then switch our grocery spend over to another card with a higher cash back percentage. The benefits of the CSR are very travel focused and the rewards are great for that (hello $300/year refunded for plane tickets) but the return on common purchases is only 1.5%, and that's only when you redeem points for travel.
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Nov 13, 2016 15:42
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Sits on Pilster posted:Ended up deciding on the CSR as there is a >$1000 per year advantage for us versus the CSP as far as I can see. This is of course dependant on spending $4k in the first 90 days, after which we get points that can be redeemed for $1500 in plane tickets apparently. The plan is to exclusively use the CSR until we hit the threshold, then switch our grocery spend over to another card with a higher cash back percentage. The benefits of the CSR are very travel focused and the rewards are great for that (hello $300/year refunded for plane tickets) but the return on common purchases is only 1.5%, and that's only when you redeem points for travel.
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Nov 13, 2016 15:55
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Sits on Pilster posted:Ended up deciding on the CSR as there is a >$1000 per year advantage for us versus the CSP as far as I can see. This is of course dependant on spending $4k in the first 90 days, after which we get points that can be redeemed for $1500 in plane tickets apparently. The plan is to exclusively use the CSR until we hit the threshold, then switch our grocery spend over to another card with a higher cash back percentage. The benefits of the CSR are very travel focused and the rewards are great for that (hello $300/year refunded for plane tickets) but the return on common purchases is only 1.5%, and that's only when you redeem points for travel. The CSR and Freedom Unlimited combo is working out well for me - 3% on travel, which is the bulk of my spending, and 1.5% for everything else. The UR points are transferrable to the CSR account, too.
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Nov 13, 2016 19:55
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When Credit Card companies do a credit pull for an application how up to date is the utilization score? My last statement for my Chase Sapphire Preferred was at about 50% utilization, but I paid it off last week and am looking for a new card to churn. If I apply for a new card will my utilization on my report be high until the next statement clears or should a week or so after a payment that gets it back to 0% utilization be fine? I would assume it is statement based, but Credit Karma updates fairly quickly and I didn't know if that would be true for banks doing a pull. Leon Trotsky 2012 fucked around with this message at 20:56 on Nov 14, 2016 |
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Nov 14, 2016 20:52
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I've only noticed things update when the statement cuts. Your util will look high until your next statement cuts and the CB's are updated.
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Nov 14, 2016 21:08
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Is the old Barclay Sallie Mae rewards card still giving 5% on Amazon? I haven't used it in while - it's currently sitting in the back of a drawer. I am starting up Amazon Prime again, and would like to have it be my default Amazon card.
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Nov 16, 2016 01:28
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laxbro posted:Is the old Barclay Sallie Mae rewards card still giving 5% on Amazon? I haven't used it in while - it's currently sitting in the back of a drawer. I am starting up Amazon Prime again, and would like to have it be my default Amazon card. The last time I used it for an Amazon purchase was in October and it still worked then.
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Nov 16, 2016 02:20
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Yes it is, for now! I'm going to be sad when they change the rewards
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Nov 16, 2016 16:50
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Amex Offers has had some really good deals recently. I've gotten 500 points for spending $10 at a few different restaurants, a 10% statement credit for my renter's insurance, 3x points at Amazon, $20 back for spending $100 at Staples, and $25 back for spending $200 at Newegg.
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Nov 17, 2016 16:13
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I got a fancy mailer from Amex letting me know that the Platinum card now gives 5x points on airline travel purchases, so that's new and nice but maybe not nice enough to make me switch off from my doublecash, particularly since I've already bought all my holiday season travel.
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Nov 17, 2016 17:39
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Sits on Pilster posted:It's not out of the question but I just moved back to the States after 5 years abroad and have a very sparse credit history. I have actually already been denied for an Amex a couple months back, but that was before making initial payments on my mortage, internet, cell phones, etc. Am hoping my histories are a bit more populated now. Any idea how long it typically takes to get over a hump like that? Was thinking I'd start with one good card at first and then potentially branch out once I have a more established record. Sometimes the simplest thing to do is the best thing to do. You fly a ton on American Airlines, so why not get an American Airlines card? There's an offer floating around with 50k miles sign up bonus. That would be about two free round trip tickets in North America almost right off the bat. Not sure if Citibank does it or not, but some airline credit cards let you charge flights on the card BEFORE it ships and is in hand. On top of that, you get the free checked bags and such. With the amount of travel you do, it'll probably pay for itself a few times over just in checked bag fees. Of course, you are talking about having a few large purchases with furniture/etc. coming up. I know when my Delta card was 0% it made dropping 2 grand on furniture and paying it off slowly very nice. If you got the Blue Cash card, you could get their 0% for 12 months so you could take your time paying the large purchases off. General question to anyone: I've received offers from a couple of different cards throughout the last couple of years to change the APR on the card. I received a 0% offer on my Amex Delta Gold card, then a few months later I received one for 0% for 9 months on my Citi Hilton card. How common is it to get these offers and who else has gotten them? I like to have a 0% card floating around in case I need to make a large purchase.
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Nov 18, 2016 02:02
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I have a $4300 a month payment I must make for the next 15 months. That's about $64,000 in payments. I have two options 1) bank draft 2) credit card payment Option 2 has an $85 fee. This comes out to almost exactly 2%. Is it worth while to launder this expense through my credit card, assuming I get back 2% cash back? Most card rewards seem to be 1%, 1.5% and rarely 2%. Right now I have an unlimited 1.5% back card and might qualify for a 2% unlimited back card with a 730-745 credit score? Does that card exist? I like to travel, is it possible to get more than 2% back in airline miles if I launder my monthly expense through my credit card? Would I be able to get back.... 64,000 airline miles.... 128,000 airline miles? I otherwise have no debt and have the cashflow to pay off this expense each month. Just trying to see if I can leverage a card for something fantastic like miles or just cash back. Hadlock fucked around with this message at 09:37 on Nov 21, 2016 |
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Nov 21, 2016 09:35
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Hadlock posted:I have a $4300 a month payment I must make for the next 15 months. That's about $64,000 in payments. What are your travel goals? Do you want to be able to take a bunch of free domestic economy flights? Splurge on a premium cabin trip to Asia and back? What destinations appeal to you and where are you based? IMO, I don't know that I would do the credit card payment unless I was willing to go the churning route (which I do for my own life, fwiw). With $4,385 in monthly payments from this alone, you could probably get 15-20 credit card bonuses over the next 15 months without breaking a sweat. There are ways to get value out of credit card spend on this expense if you only do one or two cards, but the options are more limited. Are you willing to open a bunch of credit cards over the next year+ or do you want to stick to one or two? Answer the above questions and we can help you craft a plan.
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Nov 21, 2016 14:37
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Depends on how much effort you want to put in. The hard part of this is the CC fee. Even a 2% cashback is only a $6/mo "profit". Pick a couple high sign-up bonus cards and get the bonus points. Remember you are gonna be paying an AF to get the cards. Otherwise... just put it on a 2% CB card for the $6. Its probably not worth paying the fee to get miles, you're spending so much extra to get them that it negates their value in the first place. For a 2% card that credit rating should be fine to get a Citi double cash. 2%, no limit, no AF. I think everyone should have one as a no hassle 2% card.
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Nov 21, 2016 16:27
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Since there's a 2% fee you're basically just buying miles. Would you trade $1275 for 64000 miles? I probably wouldn't. If the vendor is coded as something that you can get 5% back on from something like a Chase Ink+ then it would make sense. The other consideration is getting a bonus for putting a bunch of spend on a single card. Most of the bonuses are related to travel (getting more qualifying miles/nights or free stays etc.) so wouldn't be that helpful if you don't travel much. This link is from 2014 but it's a good starting point to look through: http://onemileatatime.boardingarea.com/2014/09/25/credit-cards-with-the-best-annual-spending-bonuses/
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Nov 21, 2016 16:30
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Hadlock posted:I have a $4300 a month payment I must make for the next 15 months. That's about $64,000 in payments. Unless you're good at churning it's not worth the hassle, and your credit score might not be high enough for that. Paying $85 for 2% back is a waste of time. Only hitting a bunch of intro offers makes sense, and that depends on how much time you're willing to devote to that whole mess of mixing multiple types of rewards systems to actually get somewhere. Maybe just do CSR, CSP, and Freedom and call it a day with about $2000 in free travel after 2 months.
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Nov 21, 2016 16:34
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Grabbing the various Chase cards should be pretty easy, you can transfer all your points from other Chase cards between each other without much hassle. Stacking the Sapphire Preferred and Reserve, the Ink Preferred, and the Freedom Unlimited would get you 245,000 in sign up bonuses alone. That's $2,450 off your credit card bill or $3,675 in travel. Might be even more points potentially if you qualify for any of the targeted bonuses for applying in branch.
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Nov 21, 2016 16:42
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So I've been doing some low-level churning over the last two years, putting my tuition payments on CC's and paying them off from savings. My credit is excellent, as I've never really carried a balance, but I've got a real newbie question: Recent circumstances are making it look like my best option might be to buy a used car from a dealership on a credit card and pay it back over time. Basically, I'm getting down to the point where will I have little liquid cash reserves (it's been an unexpectedly tough year financially, and I have some pricey visa and related expenses coming up soon), and a vehicle would help out a lot in terms of opening up summer work options (big, as the job market here is terrible). It would also give my partner and I a chance to do some low cost camping/exploring the state, something we haven't had much of an opportunity to do since she got here 8 months ago. My income/employment prospects will brighten considerably once the new school year starts at the end of January, and it would really suck to let the summer go by holed up in our apartment. Dealer financing probably isn't an option as I'm pretty new to Australia and have very little income history here to show, plus using my US credit score would likely give me a better rate anyhow. I've been using credit cards for 10+ years, but always in the "pay it off immediately" way, so interest rates and stuff are actually somewhat of a mystery to me. Doing a bit of reading and playing around with calculators, would I really only be out a few hundred dollars of interest on $3.2k @ ~20% APR if I paid it off over the course of 6-8 months? If so, I think that would be more than worth it to me, and between the additional rewards miles and ability to do some fruit picking (already signed up, but don't have a way to get down there unless I get lucky and find a carpool like last year) I think it would likely pay for itself.
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Nov 24, 2016 00:09
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Just get a regular car loan at like 3%.
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Nov 24, 2016 00:15
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If you can pay it off in a year just get a 0% APR card. Though I don't know if dealers there will let you use a credit card.
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Nov 24, 2016 00:54
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Amex plat 100k is public.
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Nov 24, 2016 02:18
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If Chase does reduce the signup bonus on the CSR, how much notice are we likely to have before the new amount kicks in?
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Nov 24, 2016 02:59
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Pompous Rhombus posted:So I've been doing some low-level churning over the last two years, putting my tuition payments on CC's and paying them off from savings. Where do you go that you can do this without fees? Everywhere I've gone, it's at least 3%. If it was 2% I'd happily just use my double cash card and not have to pay until the intro APR is up, but I heard it was rare to not have to pay a fee.
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Nov 24, 2016 17:49
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Moneyball posted:Where do you go that you can do this without fees? Everywhere I've gone, it's at least 3%. If it was 2% I'd happily just use my double cash card and not have to pay until the intro APR is up, but I heard it was rare to not have to pay a fee. Yeah, that was my experience in the US as well. When I was looking at my university here in Australia I got the idea to check, and sure enough there was no surcharge to pay by CC (couldn't believe it myself, so double-checked with the finance department). They don't take Amex, but other than that Visa or MC are fine. Since all of the good cards have no foreign exchange fees either*, I wind up not paying anything extra. *I broke this rule for the Aadvantage Gold, because I wasn't going to be able to get the Plat again in time, and I judged the ~$25 I'd eat in fees was worth it for 25,000 American miles. DNK posted:Just get a regular car loan at like 3%. Like I said in the post, as a non-resident with very little income history, I doubt I can. Hashtag Banterzone posted:If you can pay it off in a year just get a 0% APR card. Though I don't know if dealers there will let you use a credit card. I hadn't thought of a 0% APR card! It would definitely be within a year, I actually just got a short-term contract offer for Term 1.
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Nov 24, 2016 21:43
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If you can qualify for x amt unsecured credit on credit cards then you can easily qualify for the same secured credit on a loan. Just saying.
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Nov 25, 2016 06:58
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DNK posted:If you can qualify for x amt unsecured credit on credit cards then you can easily qualify for the same secured credit on a loan. Just saying. My assumption is that lenders would be unwilling to lend for property they can't repossess. I know that getting an American bank to lend on an overseas property is supposed to be a PITA.
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Nov 25, 2016 19:42
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Totally, and the international angle is definitely a complicating factor. I'm just saying that actual real loans should be thoroughly investigated -- don't take the first "no" and immediate go "welp, CC time!". An actual installment loan will also be incredibly good for your credit and build that credit history that he's so thin on. Look into it, at least 
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Nov 25, 2016 22:15
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I have what should be an obvious question about churning, but I haven’t found the answer by googling yet. I have a Chase Sapphire Preferred that will be expiring this year, and I’d like to cancel it and apply for a new one in a few months. I’ve had the card for over 2 years, so as I understand it, getting the new bonus shouldn’t be a problem. My question is, will the UR points I’ve accrued stay in my account after the card has been cancelled? I do have another Chase card on my account (Amazon branded), but I don’t think it earns UR points. Presumably, I should be able to cancel my current CSP, keep the points, then apply for a new one shortly, get the bonus, and have those UR points added to my existing account. Then I can decide later if I want to get the Reserve card as well, for even more points.  Another question: Since I’ve had my CSP for a few years, I’ve been paying the $95 fee. This fee will still be waived for the first year if I cancel and open a new CSP, right?
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Nov 26, 2016 16:53
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If you don't have another card that earns UR then you'll lose the points. You also need to transfer them between cards before you cancel as well.
asur fucked around with this message at 18:44 on Nov 26, 2016 |
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Nov 26, 2016 18:06
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The UR points go poof if you don't have an UR card. Get the new card first.
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Nov 26, 2016 18:24
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drat, looks like I can't get the bonus on a new CSP if I still have one, so I would have to get the Reserve first if I want to churn. Not sure I want to pay that annual fee at this point in time though. Thanks for the info! Thought my plan might be too good to be true.
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Nov 26, 2016 20:03
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You have multiple options. Chase Freedom is a free UR card with a ok signup bonus. There are also two business cards that are reasonably equivalent to the Freedom and Sapphire Preferred. You can also downgrade to either the Sapphire or Freedom if you're near the 5/24 limit and don't want to open another card. You also should look into if Chase requires you to wait a certain amount of time between canceling a Sapphire Preferred and applying again. I didn't see the question originally, but yes the annual fee is waived for the new Sapphire Preferred. edit: I would just like to point out that if you can use the Sapphire Reserve travel credit in December then the card is absolutely worth getting. If you apply in early December you're likely to get 3 travel credits and then the 100,000 points on top of that. The points alone are easily worth the annual fee even if you just use them as a statement credit and then on top of that would be $900 in travel credit. I don't want to push something if you have other reasons to not get it, but from a churning perspective the Sapphire Reserve is absolutely ridiculous value. asur fucked around with this message at 20:26 on Nov 26, 2016 |
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Nov 26, 2016 20:16
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