- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Credit Card Rewards and Points Discussion
Posted on 9/16/16 at 8:44 pm to dabigfella
Posted on 9/16/16 at 8:44 pm to dabigfella
The freedom cards are personal but as someone pointed out, you could just use it solely for your business expenses and treat it as such I believe
There are two freedom cards
-Freedom "The original"- Quarterly 5x Categories for up to $1500
-Freedom Unlimited (New)- Unlimited 1.5x points
Benefits of Switching
If you have a typical 1% cash back card, you earn $50,000 in rewards a year.
If you used Freedom Unlimited, you'd have 75,000 points which you could pull out as $75k. Alternatively you could transfer points to Chase Reserve to book travel for increased redemption.
If you booked exclusively travel with your points, the travel value you'd get would be a minimum $112,500 with CSR Portal 1.5x bonus. If you do a good job transfer to travel partners you could get $150,000-$200,000+ in travel
There are two freedom cards
-Freedom "The original"- Quarterly 5x Categories for up to $1500
-Freedom Unlimited (New)- Unlimited 1.5x points
Benefits of Switching
If you have a typical 1% cash back card, you earn $50,000 in rewards a year.
If you used Freedom Unlimited, you'd have 75,000 points which you could pull out as $75k. Alternatively you could transfer points to Chase Reserve to book travel for increased redemption.
If you booked exclusively travel with your points, the travel value you'd get would be a minimum $112,500 with CSR Portal 1.5x bonus. If you do a good job transfer to travel partners you could get $150,000-$200,000+ in travel
1
Posted on 9/16/16 at 9:02 pm to GenesChin
Basically,
-If you are okay with personal card bare minimum you increase rewards $25,000+ and potentially $75,000-100,000+ in travel *Assume current 1% rewarda and $5mil spend
-If you have to have a business card, a Chase card like the Ink will get you same 1% rewards but offer flexibility to increase value I'm travel redemption
Travel Redemption Basic through thigs like Chase
-CSR Portal: Book a trip and rewards points give you 1.5x bonus
-Travel Partners: Transfer to a partner whose redemptions may be 2-3x (First class sometimes 5-10x)
ETA: You should donate some of those extra points to the CC Rewards thread annual conference in Vegas
-If you are okay with personal card bare minimum you increase rewards $25,000+ and potentially $75,000-100,000+ in travel *Assume current 1% rewarda and $5mil spend
-If you have to have a business card, a Chase card like the Ink will get you same 1% rewards but offer flexibility to increase value I'm travel redemption
Travel Redemption Basic through thigs like Chase
-CSR Portal: Book a trip and rewards points give you 1.5x bonus
-Travel Partners: Transfer to a partner whose redemptions may be 2-3x (First class sometimes 5-10x)
ETA: You should donate some of those extra points to the CC Rewards thread annual conference in Vegas
This post was edited on 9/16/16 at 9:11 pm
Posted on 9/16/16 at 9:43 pm to GenesChin
Thanks for all the advice I really appreciate it. Im gonna call my CPA in the morning and ask him, Ill let you what he says about having a personal card vs business card and if there is a difference, I would assume not but who knows. If thats the case I would love to do what everyone is suggesting and go with the freedom card. Thank you again
Also when you say this what exactly do you mean?
Also when I log into my online banking I would be able to transfer points earned on the freedom into the JP morgan reserve card account is that right? Then when points are in the JPM account they're worth more? Interesting.
quote:
-Travel Partners: Transfer to a partner whose redemptions may be 2-3x (First class sometimes 5-10x)
Also when you say this what exactly do you mean?
Also when I log into my online banking I would be able to transfer points earned on the freedom into the JP morgan reserve card account is that right? Then when points are in the JPM account they're worth more? Interesting.
This post was edited on 9/16/16 at 9:47 pm
Posted on 9/17/16 at 2:02 am to AmeriKop45
quote:
9/21 there is rumor of higher bonus on AmEx SPG card. For those of you who are over 5/24 or don't care about it, brace yourselves. Good time to pick up both SPG AmEx since you will not be able to for much longer.
Why won't it be available much longer? Can I sign up for the personal and business at the same time?
Posted on 9/17/16 at 6:56 am to dabigfella
quote:
Also when you say this what exactly do you mean?
He means that instead of the typical 1 cent per point or 1.5 cent per point by using the ultimate rewards travel portal and your JP card you can sometimes book redemptions that value your points at day 3 cents a point by transferring to airline partners for the first class flights and such.
And yes you can transfer points from your freedom unlimited to your JP card via the chase online site. Remember to get the freedom unlimited though not the original freedom if you are going to go this route.
Posted on 9/17/16 at 7:24 am to dabigfella
quote:
Im gonna call my CPA in the morning and ask him, Ill let you what he says about having a personal card vs business card and if there is a difference, I would assume not but who knows.
This is a good idea. Depending on how your business is setup you may have to identify this as a business line of credit, where as by default it is your personal credit.
A couple other differences, that shouldn't really affect you...most consumer purchase protections on personal cards don't apply to businesses and business expenses. Second, lines of credit on non-high end personal cards are usually lower than business cards. With the amount of assets you have with Chase, it shouldn't be hard to raise your credit limit to $250k if necessary.
Posted on 9/17/16 at 7:40 am to dabigfella
quote:
Also when you say this what exactly do you mean?
So set a baseline for travel rewards at the Chase Portal 1.5x bonus. So every point you've earned is worth 1.5 cents
You can also transfer points to Travel Partner rewards programs that may let you make award redemption for >1.5x .
Example: I moved points from Chase UR to Hyatt
Hyatt Hotel $375/night vs 15,000 points/night
So on that hotel stay my points were worth >3x vs 1.5x of Chase portal
quote:
Im gonna call my CPA in the morning and ask him
Would be interesting to know, if the personal card is only for business transactions it should be easy to track
This post was edited on 9/17/16 at 7:41 am
Posted on 9/17/16 at 8:11 am to GenesChin
Yeah doesn't matter whether it is a personal or business card for tax purposes, you just have to keep expenses separate or it could turn in to a headache.
Posted on 9/17/16 at 10:45 am to reb13
I got my reserve in last week
I'm tempted to get my wife one too, but worried about having to spend 8k in 3 months, but I'm afraid the bonus will go down soon...not to mention I'd like to get the extra 300 credit this calendar year
4k is easy, but 8k is pushing it without having to MS
I tried to downgrade my sapphire preferred to a freedom, but I have to wait until november because I have had it less than a year
ETA:
Screw it, just got her a CSR and a Freedom. Better to get her a freedom since she'll get a signup bonus I wouldn't have gotten and I get a free AU card anyway.
My UR balance should be 310,000+ around January. I'm hoarding them and I don't know what to do...
I'm tempted to get my wife one too, but worried about having to spend 8k in 3 months, but I'm afraid the bonus will go down soon...not to mention I'd like to get the extra 300 credit this calendar year
4k is easy, but 8k is pushing it without having to MS
I tried to downgrade my sapphire preferred to a freedom, but I have to wait until november because I have had it less than a year
ETA:
Screw it, just got her a CSR and a Freedom. Better to get her a freedom since she'll get a signup bonus I wouldn't have gotten and I get a free AU card anyway.
My UR balance should be 310,000+ around January. I'm hoarding them and I don't know what to do...
This post was edited on 9/17/16 at 11:12 am
Posted on 9/17/16 at 1:07 pm to Croacka
quote:
I'm tempted to get my wife one too,
I'm considering this as well. I think I have only gotten 3 cards in the last 24 months, Barclays, AMex Delta platinum, and the CSR. The day after I got it, I booked a vacation, so I'm over the 4K spend already having had it 3 days.
If I get the wife one, will shift all spending to her card till she gets the 4K limit.
Can I then link both our accounts on Chase to move points between us if needed? Will probably get rid of one CSR after a year, or whatever time frame is required. Can that card be downgraded to something?
Posted on 9/18/16 at 8:08 pm to AmeriKop45
quote:
If you can meet the minimum spend, different account is totally worth it with the $600 reimbursement in year 1. Plus another global entry. Since you'll have all the UR in the world maybe you can swing an international trip after all. Pre Check comes with GE so might as well just get that and be done with it. But yeah for year 1 definitely get a separate account. Cancel one in year 2.
Just submitted the wife's application and got approved so our 2nd CSR on the way. I'm not sure how I feel right now?
Considering the Ink as was recommended earlier, for the sign up bonus. But I don't spend a lot at office stores at all, but do have memberships at Costco and Sams, and probably spend $500 a month at them. Is that enough spend for the Ink to be worth it?
Posted on 9/18/16 at 8:15 pm to kywildcatfanone
quote:
Considering the Ink as was recommended earlier, for the sign up bonus. But I don't spend a lot at office stores at all, but do have memberships at Costco and Sams, and probably spend $500 a month at them. Is that enough spend for the Ink to be worth it?
With that spend I'd look at the original freedom card. The last 3 quarters have had Sam's and costco as 5x categories.
Posted on 9/18/16 at 8:22 pm to Big Saint
quote:
With that spend I'd look at the original freedom card. The last 3 quarters have had Sam's and costco as 5x categories.
Was considering the Ink for the sign up points, but that might make sense.
Posted on 9/18/16 at 8:25 pm to kywildcatfanone
Does the ink pay 5% at club stores?
I didn't think it did.
I didn't think it did.
Posted on 9/18/16 at 8:36 pm to Croacka
quote:
I didn't think it did.
It probably doesn't, I was probably misremembering something from an earlier post.
Posted on 9/19/16 at 7:32 am to Croacka
No the ink doesn't pay 5x at club stores. Just at office stores.
Posted on 9/19/16 at 10:32 am to Croacka
Yeah but Office Stores sell Gas/Grocery/Restaurant/Other merchant gift cards. Ink means 5x on pretty much everything.
Posted on 9/19/16 at 10:42 am to AmeriKop45
quote:
Yeah but Office Stores sell Gas/Grocery/Restaurant/Other merchant gift cards. Ink means 5x on pretty much everything.
Oh, meant to ask this. So, if you buy a gift card at a store that sales them, and has a 5X or some other reward, you still get the 5X on gift cards? Is it basically anything in the store? So at Office Depot, if I buy a longhorn gift card, it's 125 points?
If so, that might make the Ink more appealing, but I generally don't go to Staples or Office Max for anything. Is there a downgraded Ink card you could do after 1 year to avoid the AF?
Posted on 9/19/16 at 10:49 am to kywildcatfanone
quote:
Oh, meant to ask this. So, if you buy a gift card at a store that sales them, and has a 5X or some other reward, you still get the 5X on gift cards? Is it basically anything in the store? So at Office Depot, if I buy a longhorn gift card, it's 125 points?
Exactly.
quote:
If so, that might make the Ink more appealing, but I generally don't go to Staples or Office Max for anything.
Order codes online if you need to.
quote:
Is there a downgraded Ink card you could do after 1 year to avoid the AF?
Yes. Downgrade to Ink Cash after year 1. No AF. Ink Cash has $200 (or 20,000 points) offer. But Ink+ has the 60,000 points offer.
This post was edited on 9/19/16 at 10:51 am
Posted on 9/21/16 at 9:55 am to AmeriKop45
So reading this thread I'm wanting to pull the trigger on the CSR. The downside is I just signed up for the CSP in May, and I believe I remember people mentioning that if you cancel the card too soon after receiving the sign up bonus that they will claw back the points.(Might have been in regards to an AMEX card, I don't remember exactly)
Would it be better to sign up for the CSR, then once approved (fingers crossed) I could call Chase and downgrade to one of the Freedom cards?
On the other hand if all I have to do is hold onto the CSP until I get closer to my year and then cancel I wouldn't mind doing that.
Help me CC Gurus, you're my only hope.
Would it be better to sign up for the CSR, then once approved (fingers crossed) I could call Chase and downgrade to one of the Freedom cards?
On the other hand if all I have to do is hold onto the CSP until I get closer to my year and then cancel I wouldn't mind doing that.
Help me CC Gurus, you're my only hope.
Page 390 of 547
Popular
Back to top
Follow TigerDroppings for LSU Football News