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re: Am I using the right card for my lifestyle and goals?
Posted on 11/9/14 at 7:00 pm to Teddy Ruxpin
Posted on 11/9/14 at 7:00 pm to Teddy Ruxpin
quote:
Anything over 760 is essentially worthless for interest rates for home/car. Keeping an 800 score is an ego driven accomplishment. Not to say it isn't great and congratulations, but good credit is an asset that can be leveraged. It's worth nothing if you don't.
Thanks Teddy. I don't have that score because of ego or anything, it just is what it is. I have no personal debt, and don't buy a lot, so my score doesn't fluctuate much I guess.
Posted on 11/9/14 at 7:10 pm to kywildcatfanone
I wasn't using ego as a bad term for keeping your nose clean. That's very good and would never diminish that
Posted on 11/10/14 at 5:08 pm to kywildcatfanone
Those SW cards contribute to companion pass status, where you can get BOGO free flights for up to two calendar years (if earned correctly). Also, Chase Sapphire Preferred cards alow you to transfer the UR points to many different rewards programs. I transferred $120 worth of UR points to SW to score $400 worth of free flights. You just have to catch the deals at the right time. FWIW, we earned the companion pass with one card in my name and one card in my wife's name, both of which were tied to my SW Rapid Rewards number. I have heard sometimes this won't happen, but I was happy it did!
I am burning up my companion pass this year. It will expire at the end of 2015, and we have already gone on 3 domestic trips with free flights since April.
Go check out The Points Guy or Flyer Talk, they have extensive articles on how to maximize points earned.
I am burning up my companion pass this year. It will expire at the end of 2015, and we have already gone on 3 domestic trips with free flights since April.
Go check out The Points Guy or Flyer Talk, they have extensive articles on how to maximize points earned.
This post was edited on 11/10/14 at 7:25 pm
Posted on 11/10/14 at 7:15 pm to TigerRob20
Thanks guys for the responses. I guess I never really considered getting a card, capturing the points, burning it and then getting the next one. Maybe I should consider doing that.
Posted on 11/11/14 at 9:51 am to kywildcatfanone
quote:
Is that enough info to help me? I supposed at the end of the day, I was thinking with my CC spending each year with the right rewards programs, I could get the equivalent of 4 flights for free per year. Doesn't look to be that way unless the cost of flights come down a lot. Should I look to segregate my purchases to different cards?
You are using your CC points at a very low value, 0.01 cpp, which is what Teddy explained in the other thread. So for 130,000 points you are getting $1300 worth out of it, or 2 flights as you said.
I know nothing about Barclays but here is a hypothetical example of how you would redeem those 130,000 points for more "bang" or value assuming this is allowed with Barclays:
Transfer 130,000 points to delta at a 1:1 ratio so now you have 130,000 miles.
Looking at Delta's award chart, domestic flights are 25,000 miles (not sure how realistic this is but let's use this value in this example anyways). So that is 5 total flights at 25,000 miles or 125,000 total points/miles. If you assume each of those flights is $300 that is $1500 which is higher than the $1300 I used above. You have to become familiar with Delta's award chart if you want to really get value.
Where you really start to good use of points is flying business overseas using this method. You can get very $$$ tickets for 125,000 or so points.
Like I said, it is possible you can't even do what I just mentioned using your card but this is one way of using your points better.
Posted on 11/11/14 at 11:05 am to hiltacular
quote:
Like I said, it is possible you can't even do what I just mentioned using your card
It isn't
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