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Started By
Message
re: Credit Card Rewards and Points Discussion
Posted on 10/1/15 at 4:13 pm to Cantstandya
Posted on 10/1/15 at 4:13 pm to Cantstandya
quote:
I currently have Chase Sapphire and have been earning lots of points. I think they're going to hit me with an annual fee in November, so I'm thinking about cancelling the card.
Is that the right thing to do, and are there any good offers available right now?
Cancelling is not the right thing to do if that is the only Chase UR card you have since that will forfeit your points.
Issues and Options:
1) Apply for a Chase Freedom card before you cancel the Sapphire so your UR points won't be forfeited.
Alternatively, you can apply for the Chase Freedom and earn the bonus, and instead of cancelling your Sapphire Preferred, have it downgraded to Chase Freedom as well. This will give you two of them at no annual fee.
You may ask, why not just downgrade to Freedom first and be done with it? Because then you will probably not be able to earn the Freedom bonus separately, which is a free $100 to $200 in value.
2) The best value from Chase Sapphire Preferred is the ability to transfer to airline partners. You will lose this ability if you do not have a premium Chase UR card which are the Chase SP and the Chase Ink Plus. I suggest either keeping the card and paying the fee or, applying for a Chase Ink Plus(and cancel Sapphire once you transfer your point from it to Ink), OR go ahead and transfer your points to an airline partner before you cancel.
**********IMPORTANT**********
DO NOT CANCEL THE SAPPHIRE PREFERRED BEFORE TRANSFERRING THE POINTS TO EITHER A TRANSFER PARTNER OR TO ANOTHER CHASE CARD. IF YOU LEAVE THE POINTS IN THE PREFERRED CARD "BUCKET" WHEN YOU CANCEL IT, YOU WILL FORFEIT THE POINTS.
I think that pretty much covers it.
This post was edited on 10/1/15 at 4:18 pm
1
Posted on 10/1/15 at 4:25 pm to Teddy Ruxpin
Thanks for the info. I do already have a Chase Freedom Card, so I might go ahead and cancel the Sapphire and pick up the Ink Plus and the 60,000 pts. Does it matter that the Ink Plus is a "Business" card?
I'll be sure to transfer my UR points so that I don't lose them. Will I be able to transfer them directly to Ink Card if I open the Ink before I cancel the Sapphire?
I'll be sure to transfer my UR points so that I don't lose them. Will I be able to transfer them directly to Ink Card if I open the Ink before I cancel the Sapphire?
Posted on 10/1/15 at 5:02 pm to Cantstandya
quote:
I'll be sure to transfer my UR points so that I don't lose them. Will I be able to transfer them directly to Ink Card if I open the Ink before I cancel the Sapphire?
Ya, you'll be able to transfer the points to Freedom or the Ink card. The points can go any direction or route between your cards and/or your spouse's cards as well.
I forgot about that route. If you have a spouse you can have them get a CSP and transfer to her/his account.
As for business cards, if you have any sort of logical business idea, even "to start reselling on Ebay" you can apply for one using your SSN. You can even put revenues at $0.
This post was edited on 10/1/15 at 5:10 pm
Posted on 10/1/15 at 6:54 pm to Cantstandya
quote:
Thanks for the info. I do already have a Chase Freedom Card, so I might go ahead and cancel the Sapphire and pick up the Ink Plus and the 60,000 pts. Does it matter that the Ink Plus is a "Business" card?
I'll be sure to transfer my UR points so that I don't lose them. Will I be able to transfer them directly to Ink Card if I open the Ink before I cancel the Sapphire?
Getting a Chase branded UR card is not as easy to do as it was just 6 months ago. You should get the Ink Plus before you cancel the Sapphire. There's a chance that you could be SOL if you don't.
Posted on 10/2/15 at 1:14 pm to VABuckeye
Interesting opportunity...
Citi Gold Checking account running a 50k AA points or 50k TY point signup bonus for Citi AA credit card holders. Funding can be done with Visa/MC from most banks and don't code as cash advance and you can fund up to $100k initial deposit. It only requires a soft pull.
$30 monthly fee waived first 2 months. Fee also waived for 50k min balance kept(contrary to what my wife thinks, I unfortunately don't carry $50k in the bank). Account must be active at least 2 months and reports show that it takes up to 3 months for points to post. So, worst case looks like you'd have to pay $30 fee for the 3rd month and you can cancel the account or downgrade.
I think I'm going to fund it with my SW Chase card. Highest non-AMEX limit I have at $27k.
50k AA points and 25k SW points for $30 sounds like a pretty damn fine deal to me.
As a temporary perk, the Citi Gold account waives ATM fees at non Citi ATMs. Definitely nice when travelling overseas.
Citi Gold Checking account running a 50k AA points or 50k TY point signup bonus for Citi AA credit card holders. Funding can be done with Visa/MC from most banks and don't code as cash advance and you can fund up to $100k initial deposit. It only requires a soft pull.
$30 monthly fee waived first 2 months. Fee also waived for 50k min balance kept(contrary to what my wife thinks, I unfortunately don't carry $50k in the bank). Account must be active at least 2 months and reports show that it takes up to 3 months for points to post. So, worst case looks like you'd have to pay $30 fee for the 3rd month and you can cancel the account or downgrade.
I think I'm going to fund it with my SW Chase card. Highest non-AMEX limit I have at $27k.
50k AA points and 25k SW points for $30 sounds like a pretty damn fine deal to me.
As a temporary perk, the Citi Gold account waives ATM fees at non Citi ATMs. Definitely nice when travelling overseas.
Posted on 10/2/15 at 1:18 pm to LSUAfro
I've always been interested in churning checking accounts but with the direct deposit requirements I'm a little hesitant to harass my HR lady that often. I think some direct deposit requirements can be satisfied transferring money from Serve/Bluebird to the checking account though. It worked when I had a Chase checking account.
25k huh? I'm not sure I could float that much for 3 months without some effort. I keep maybe $2,000 in checking as my floor so I'd have to get creative.
25k huh? I'm not sure I could float that much for 3 months without some effort. I keep maybe $2,000 in checking as my floor so I'd have to get creative.
This post was edited on 10/2/15 at 1:20 pm
Posted on 10/2/15 at 1:31 pm to Teddy Ruxpin
quote:
I've always been interested in churning checking accounts but with the direct deposit requirements I'm a little hesitant to harass my HR lady that often. I think some direct deposit requirements can be satisfied transferring money from
I understand. I'm able to split mine up to 4 ways and do it online. Very nice. quote:
25k huh? I'm not sure I could float that much for 3 months without some effort. I keep maybe $2,000 in checking as my floor so I'd have to get creative.
Why are you keeping the money in there? I couldn't find any language that stated the initial deposit must remain in the account for the 60 day minimum period. That would suck
. I'd have to get creative fast to float that kind of cash. Posted on 10/2/15 at 1:33 pm to LSUAfro
quote:
Why are you keeping the money in there? I couldn't find any language that stated the initial deposit must remain in the account for the 60 day minimum period. That would suck . I'd have to get creative fast to float that kind of cash.
Oh sorry I'm a dumby.
You got a link to the offer?
Posted on 10/2/15 at 1:34 pm to LSUAfro
Also, for the IC Thalasso Bora Bora folks that were looking in to going there, have y'all had any luck? I was trying to help a friend plan a trip there and award space looks to have all but dried up. I'm still seeing a few FTers having luck. Not sure what the angle there would be...if any at all.
I can say this much, I wouldn't go to stay at Le Moana and not in an overwater bungalow. That's the whole point of flying to the middle of the frickin nowhere is to stay in an over water bungalow.
I can say this much, I wouldn't go to stay at Le Moana and not in an overwater bungalow. That's the whole point of flying to the middle of the frickin nowhere is to stay in an over water bungalow.
Posted on 10/2/15 at 1:36 pm to Teddy Ruxpin
Posted on 10/2/15 at 1:44 pm to Teddy Ruxpin
Think I finalized my Asia trip....for now. Hoping a F seat opens up on the flight there in JAL. Booked J for the time being. Really wanted to try out CX F on one leg, but not really wanting to wait till 2 weeks before to hope something opens up. Might change if something opens up.
ORD-NRT in JAL J(13 HR layover so I can go in to the city)
Haneda-HKG in CX J
I'll find a discount carrier to hop between
SGN-NRT in JAL J
NRT-ORD in JAL F
ORD-NRT in JAL J(13 HR layover so I can go in to the city)
Haneda-HKG in CX J
I'll find a discount carrier to hop between
SGN-NRT in JAL J
NRT-ORD in JAL F
This post was edited on 10/2/15 at 1:47 pm
Posted on 10/2/15 at 1:46 pm to LSUAfro
Nice, how long you in Hong Kong and Vietnam for again?
Ya I could only do this if we actually made the plan to go 2 weeks before we wanted to go.
I couldn't plan it out 6 months earlier and it fall through on the last second.
quote:
but not really wanting to wait till 2 weeks before to hope something opens up.
Ya I could only do this if we actually made the plan to go 2 weeks before we wanted to go.
I couldn't plan it out 6 months earlier and it fall through on the last second.
This post was edited on 10/2/15 at 1:48 pm
Posted on 10/2/15 at 1:49 pm to LSUAfro
BTW I think with the restrictions that "Checking Account TY Points" have compared to Credit Card TY points have I'd aim for the AA points.
What do you think?
Such a weird policy to have.
Is Chase coding as Cash Advance? Seems like that is the word, which would suck.
What do you think?
Such a weird policy to have.
Is Chase coding as Cash Advance? Seems like that is the word, which would suck.
This post was edited on 10/2/15 at 1:59 pm
Posted on 10/2/15 at 2:01 pm to Teddy Ruxpin
quote:
Nice, how long you in Hong Kong and Vietnam for again?
3 days in Hong Kong and 2 days in Vietnam. Short trip. More of a food tour than sightseeing tour.
quote:
I couldn't plan it out 6 months earlier and it fall through on the last second.
That's the real nice thing about AA awards. You are only tied to your origin/destination. You can change dates/class/and layovers in between. Might as well book and watch to see if something opens.
quote:
What do you think?
Such a weird policy to have.
Same. Just going to go for the AA points. I'll probably do tonight when I pull the SW card out of the drawer. I'll let you know how it goes.
quote:
Is Chase coding as Cash Advance? Seems like that is the word, which would suck.
Hell I hope not. I'm setting my limit to 0. If they are I'll just use my Citi AA card. It's got a 17k limit. Point value would probably be about equal, but I need the SW points more.
This post was edited on 10/2/15 at 2:03 pm
Posted on 10/2/15 at 2:08 pm to LSUAfro
quote:
That's the real nice thing about AA awards. You are only tied to your origin/destination. You can change dates/class/and layovers in between. Might as well book and watch to see if something opens.
I keep forgetting this. This might be the 5th time.
quote:
Hell I hope not. I'm setting my limit to 0. If they are I'll just use my Citi AA card. It's got a 17k limit. Point value would probably be about equal, but I need the SW points more.
Same. My highly educated wife wants to relive 10 years ago and see Britney Spears in Vegas. I kinda do too
Her run ends in April and that's when we'd like to go.
This post was edited on 10/2/15 at 2:09 pm
Posted on 10/2/15 at 2:19 pm to Teddy Ruxpin
quote:
Same. My highly educated wife wants to relive 10 years ago and see Britney Spears in Vegas. I kinda do too
Have fun with that one...
Just called Chase to set my cash advance limit to 0. They said minimum was $100. But, yeah, looks like Chase is coding as cash advance from what I've seen. Oh well. Still pretty good for 60k AA miles.
Posted on 10/2/15 at 2:29 pm to LSUAfro
quote:
Just called Chase to set my cash advance limit to 0. They said minimum was $100. But, yeah, looks like Chase is coding as cash advance from what I've seen. Oh well. Still pretty good for 60k AA miles.
Yup. Think I'm in too.
Is there anything I'm missing with the debit card transaction requirement? Any tricks you plan to use on that?
Would be mighty nice if Serve loads counted.
This post was edited on 10/2/15 at 2:32 pm
Posted on 10/2/15 at 2:40 pm to Teddy Ruxpin
quote:
Is there anything I'm missing with the debit card transaction requirement? Any tricks you plan to use on that?
Would be mighty nice if Serve loads counted.
I'm just going to buy a couple OVs from CVS while the CC funding is still in bank account and load to Redbird or Serve. Loaded my Buxx at Target last weekend and this cashier was much easier. Didn't grill me.
Did you add 2 kids to your Buxx?
Posted on 10/2/15 at 2:43 pm to LSUAfro
quote:
Did you add 2 kids to your Buxx?
I'm a parent and added myself and my wife as teens since I have no kids.
Another nice route (you probably already know) to unload Buxx is to call Citi and pay off your CC with them by asking to make a debit card payment. You can unload $800 a week that way as well. Names just have to match between Debit Card and CC but doubt they'd call you out on it if you lied about the DC.
Takes me about a minute to do and is instant on both ends.
Ya, I'll just get GCs from the store as well. That's what I was thinking.
This post was edited on 10/2/15 at 2:46 pm
Posted on 10/2/15 at 2:47 pm to Teddy Ruxpin
quote:
I'm a parent and added myself and my wife
That's so silly. I need to add my wife as a child. You do $2k/month?
quote:
Another nice route (you probably already know) to unload Buxx is to call Citi and pay off your CC with them by asking to make a debit card payment. You can unload $800 a week that way as well as the route you're going. Names just have to match between Debit Card and CC but doubt they'd call you out on it if you lied about the DC.
Takes me about a minute to do and is instant on both ends.
Very nice. I knew this was an option, but was just hesitant to do it. I'll have to do that.
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