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re: Credit Card Rewards and Points Discussion
Posted on 8/2/17 at 8:51 am to MontyFranklyn
Posted on 8/2/17 at 8:51 am to MontyFranklyn
quote:
Whenever someone starts offering 3% flat I am jumping all over it.
Ya, I doubt that will happen. Hell, even 2% cash back should technically be a money loser for the CC company. Their interchange fees are probably only going down over time. I guess they are hoping interest charges help them afford the cash back.
2
Posted on 8/2/17 at 9:15 am to MontyFranklyn
quote:
It basically would boil down to me getting two additional cards which I don't want to keep up with
It just doesn't offer a signup bonus. The easiest way to do it is get 1 card with a bonus, then rotate to a new card every ~6months. Always just 1 card to track
For exapmle, the Chase Sapphire Preferred is a $500 signup bonus w/ no annual fee year 1. After year 1, you can downgrade to the free Chase FreedomU that is 1.5% cash back
To match that $500 signup bonus from the CSP, you'd have to spend at least $50,000 with the double cash card
Posted on 8/2/17 at 9:17 am to Teddy Ruxpin
quote:
Hell, even 2% cash back should technically be a money loser for the CC company
USAA offers the 2.5% but requires a direct deposit be made. Seems more like a marketing ploy to encourage people to look into USAA for more than just insurance + provide capital for their lending operations
I use USAA as my primary bank already so it was awesome for me.
This post was edited on 8/2/17 at 9:19 am
Posted on 8/2/17 at 9:19 am to GenesChin
quote:
USAA offers the 2.5% but requires a direct deposit be made. Seems more like a marketing ploy to encourage people to look into USAA for more than just insurance + provide capital for their lending operations
Oh, I know what they're doing but it is certainly a money loser on its own. 2% was a reach already, 2.5% is crazy. A company would have to be crazy/desperate or both to go to 3%. The losses would be pretty bad.
This post was edited on 8/2/17 at 9:20 am
Posted on 8/2/17 at 9:34 am to Teddy Ruxpin
OBC/SC?
Posted on 8/2/17 at 10:50 am to GenesChin
quote:I do look for those with the signup bonuses. The ones that offer you like $200 to spend a thousand in 3 months are easy money. I spend that in a week and a half.
It just doesn't offer a signup bonus. The easiest way to do it is get 1 card with a bonus, then rotate to a new card every ~6months. Always just 1 card to track
For exapmle, the Chase Sapphire Preferred is a $500 signup bonus w/ no annual fee year 1. After year 1, you can downgrade to the free Chase FreedomU that is 1.5% cash back
To match that $500 signup bonus from the CSP, you'd have to spend at least $50,000 with the double cash card
Posted on 8/2/17 at 10:52 am to Teddy Ruxpin
quote:Interest definitely pays for cash back. There are so many people that carry huge balances or max out their cards and only pay the minimum payment that it really is pretty ridiculous. I just understand, like most of the posters here, to pay it off and get the cash/rewards.
Ya, I doubt that will happen. Hell, even 2% cash back should technically be a money loser for the CC company. Their interchange fees are probably only going down over time. I guess they are hoping interest charges help them afford the cash back
Posted on 8/2/17 at 12:08 pm to MontyFranklyn
The most nuts part to me is they let you pull in $1 incremenTs
People who sit on their rewards because they don't have $21 instead of $25 increments adds up. Don't know rules on reserves to pay out rewards but they can make some extra money on the backend
People who sit on their rewards because they don't have $21 instead of $25 increments adds up. Don't know rules on reserves to pay out rewards but they can make some extra money on the backend
This post was edited on 8/2/17 at 12:10 pm
Posted on 8/2/17 at 12:12 pm to MontyFranklyn
Double cash jusdoesnt have a signup bonus. A lot of other cards do which makes them more valuable even w lower rewards rate
The reason I do USAA 2.5% though is more because I get instant payoff/bank withdrawal. Don't have to wait the 3+ day bullshite for ACH to process
The reason I do USAA 2.5% though is more because I get instant payoff/bank withdrawal. Don't have to wait the 3+ day bullshite for ACH to process
Posted on 8/2/17 at 1:25 pm to AmeriKop45
Required a lot of "spend" to activate the 5x.
I'm talking about these cards from an overall commercial product perspective and not us gamers. They made up transaction fees on that first $6500 that allowed them to rebate on the back end.
There's also a reason it's called "Old" now
ie it was costly
I'm talking about these cards from an overall commercial product perspective and not us gamers. They made up transaction fees on that first $6500 that allowed them to rebate on the back end.
There's also a reason it's called "Old" now
ie it was costlyThis post was edited on 8/2/17 at 1:26 pm
Posted on 8/2/17 at 1:32 pm to Teddy Ruxpin
Oh yeah I forgot the $6500 spend requirement. And SC is biz, although does not require triggering spend.
Posted on 8/2/17 at 2:36 pm to GenesChin
quote:Yea, I will get the cards with the signup bonuses just for the bonus and stop using it after I get the reward.
Double cash jusdoesnt have a signup bonus. A lot of other cards do which makes them more valuable even w lower rewards rate
The reason I do USAA 2.5% though is more because I get instant payoff/bank withdrawal. Don't have to wait the 3+ day bull shite for ACH to process
Posted on 8/3/17 at 10:15 am to MontyFranklyn
Signed up for Costco recently...noticed they have a Visa Costco credit card available. 4% back on gas 2% back on Costco products.
I see it's through Citi, which I know gets a bad rap, but does anyone else have or use this card? Considering getting it.
I currently use CSR for EVERY purchase I make and have Chase Freedom, Discover IT, and various store cards that i leave at home.
I see it's through Citi, which I know gets a bad rap, but does anyone else have or use this card? Considering getting it.
I currently use CSR for EVERY purchase I make and have Chase Freedom, Discover IT, and various store cards that i leave at home.
Posted on 8/3/17 at 11:11 am to Lazy But Talented
Anybody have any ideas to acquire points through paying friends?
I have almost $1000 I owe to friends for various trips, fantasy football, and other various things and I absolutely hate paying that kind of money with no return.
On top of that I have a $5000 minimum spend I have to hit on my new Chase Ink that I'd like to put it on.
I was going to Venmo most of it, but that's a 3% fee. I was thinking gift cards and liquidate, but I don't know anywhere in Nola to liquidate gift cards?
Any ideas?
I have almost $1000 I owe to friends for various trips, fantasy football, and other various things and I absolutely hate paying that kind of money with no return.
On top of that I have a $5000 minimum spend I have to hit on my new Chase Ink that I'd like to put it on.
I was going to Venmo most of it, but that's a 3% fee. I was thinking gift cards and liquidate, but I don't know anywhere in Nola to liquidate gift cards?
Any ideas?
Posted on 8/3/17 at 2:03 pm to Lazy But Talented
quote:
I currently use CSR for EVERY purchase I make and have Chase Freedom, Discover IT, and various store cards that i leave at home.
It depends what you value points at. The CSR will give you 1.5% if you redeem for travel directly with them as there are no bonus points on Costco charges. If you use a better redemption (like mileage transfers) on the CSR, then you need to decide how much that is worth to you. I have the Citi Costco card but only use it for gas to get the 4%.
Also, you should consider using the Chase Freedom card on the bonus categories. This quarter its restaurants, so you'd get 5x vs 3x on the CSR. The points can be combined. You need to register each quarter for the bonus categories.
Posted on 8/3/17 at 2:34 pm to txtiger79
quote:
This quarter its restaurants, so you'd get 5x vs 3x on the CSR.
Yeah I'm an idiot. Thanks for the reminder. I'll put the Freedom in my wallet.
quote:
The CSR will give you 1.5% if you redeem for travel directly with them as there are no bonus points on Costco charges.
Ah this is such a good point. I will almost exclusively use bonuses for travel. So I guess the Costco card is a no-go for me.
Posted on 8/3/17 at 3:16 pm to txtiger79
quote:
This quarter its restaurants, so you'd get 5x vs 3x on the CSR.
Which kind of sucks since that cannabalizes the CSR's value. Wish they'd keep Freedom categories away from Travel/Dining but Restaurants will probably never go away as a Freedom category.
Posted on 8/5/17 at 11:17 am to Teddy Ruxpin
Any ideas on liquidating gift cards anyone? No Albertson's in Nola, so that's out of the question.
I wonder if any of the smaller grocers around here will let you purchase MO's with them? Anybody have any luck with that?
I wonder if any of the smaller grocers around here will let you purchase MO's with them? Anybody have any luck with that?
Posted on 8/5/17 at 12:28 pm to txtiger79
I just got IHG and citi premier for the sign up bonuses.
I use Freedom unlimited every day for all my spending but was hoping to use IHG to save up more points for a spring trip. But looking at the value, it seems ridiculous. 40,000 IHG points for a $285 hotel room? At $1 spending per point that's not a good return.
I use Freedom unlimited every day for all my spending but was hoping to use IHG to save up more points for a spring trip. But looking at the value, it seems ridiculous. 40,000 IHG points for a $285 hotel room? At $1 spending per point that's not a good return.
Posted on 8/5/17 at 5:47 pm to cfa626
Proud of my most recent redemption (today).
Just redeemed 120K SPG points to get 7 nights at the Wailea Resort on Maui and 162K Aeroplan miles. Used Marriott nights and flights Cat 8 redemption. Aeroplan is running a 35% bonus from hotel transfers right now so my 120K miles from the package will turn into 162K.
Total price in SPG points for just the hotel was 80K (240K Marriott)
Total $$ price of just the hotel - $3,351. "Technical" CPP = 2.8 cpp. Plus whatever you value 162K Aeroplan miles at (at least 1.5cpp). Adding that in - the actual value of the whole package is $5,781. Close to 4.8 cpp.
I would have paid upto $120 per night for a hotel so assigned CPP = 0.7cpp but again, the airline miles make up for it. (2.75 cpp after adding the miles)
Not bad at all!
Just redeemed 120K SPG points to get 7 nights at the Wailea Resort on Maui and 162K Aeroplan miles. Used Marriott nights and flights Cat 8 redemption. Aeroplan is running a 35% bonus from hotel transfers right now so my 120K miles from the package will turn into 162K.
Total price in SPG points for just the hotel was 80K (240K Marriott)
Total $$ price of just the hotel - $3,351. "Technical" CPP = 2.8 cpp. Plus whatever you value 162K Aeroplan miles at (at least 1.5cpp). Adding that in - the actual value of the whole package is $5,781. Close to 4.8 cpp.
I would have paid upto $120 per night for a hotel so assigned CPP = 0.7cpp but again, the airline miles make up for it. (2.75 cpp after adding the miles)
Not bad at all!
This post was edited on 8/5/17 at 5:50 pm
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