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re: How much do you have built up in CC points/rewards?
Posted on 3/6/23 at 6:38 pm to Billy Blanks
Posted on 3/6/23 at 6:38 pm to Billy Blanks
Got $400 in cash back on my discover and almost $300 on my chase sapphire
Will be using them soon I think. Don’t really have any travel plans or flight costs to offset
Will be using them soon I think. Don’t really have any travel plans or flight costs to offset
0
Posted on 3/6/23 at 6:48 pm to Billy Blanks
It depends on which card.
Generally, redeeming points for travel through the Chase/Amex portal is high value. Redeeming points for retail items is nearly without question, the absolute worst redemption value available. Redeem for 3 nights in an $800 a night hotel, or get a $200 ladder, your choice
Generally, redeeming points for travel through the Chase/Amex portal is high value. Redeeming points for retail items is nearly without question, the absolute worst redemption value available. Redeem for 3 nights in an $800 a night hotel, or get a $200 ladder, your choice
Posted on 3/6/23 at 7:01 pm to NATidefan
that’s some crazy thinking there
Cash back of 2% plus is day in day out the best way to go. I use statement credit.
Cash back of 2% plus is day in day out the best way to go. I use statement credit.
Posted on 3/6/23 at 7:05 pm to I B Freeman
Ya I'm not understanding that math because money is fungible, but I could be dumb.
Posted on 3/6/23 at 7:25 pm to Billy Blanks
I dump my cashback rewards into my Roth IRA every quarter. It's about $150/month between the 3 I use. Letting my daily spending fund 20% of my annually contribution is nice.
Posted on 3/6/23 at 8:04 pm to Teddy Ruxpin
The great thing about using miles for flights is that it’s the same miles if you get the flight 3 months out or 3 days out. There isn’t a price increase for flights booked close to the flight date.
Posted on 3/6/23 at 8:23 pm to Billy Blanks
One Visa card is set for a statement credit every time cash back builds to $25.
Discover, I keep a few hundred in cashback balance to trade in for Lands End gift cards as needed. They give you a little extra, like spend $90 in cashback and get a $100 e-card.
One Visa, I have let cashback build to about $1,800. It’s dumb because I earn no interest on the cashback sitting there, but I’m saving it to apply to the balance after a vacation later this year, to take some sting out of that big bill. Financially dumb perhaps, but it’s a psychological benefit.
Discover, I keep a few hundred in cashback balance to trade in for Lands End gift cards as needed. They give you a little extra, like spend $90 in cashback and get a $100 e-card.
One Visa, I have let cashback build to about $1,800. It’s dumb because I earn no interest on the cashback sitting there, but I’m saving it to apply to the balance after a vacation later this year, to take some sting out of that big bill. Financially dumb perhaps, but it’s a psychological benefit.
Posted on 3/6/23 at 8:29 pm to Teddy Ruxpin
quote:
As for people getting Chase UR, I feel like I basically use that for Hyatt hotels 90% of the time
Same for me, if not at a higher percentage. If Chase ever dropped Hyatt, I would probably just burn my points on a a few flights and then move to a different ecosystem. But Hyatt keeps me around
Posted on 3/6/23 at 8:32 pm to Billy Blanks
About $1,400 toward travel
Posted on 3/6/23 at 9:08 pm to Billy Blanks
seriously we get about 2k a year in rewards.
Posted on 3/6/23 at 10:45 pm to NATidefan
quote:
If you credit statement it's only worth 5 dollars, but if you direct deposit it and spend it again it's worth 5 dollars plus another 5% of 5 dollars. So $5.25.
Wouldn’t it basically be the same thing? If you get a statement credit, that’s $5 less you need to spend to pay off that balance. As a result, $5 more to spend and get the same $5.25?
Posted on 3/6/23 at 11:00 pm to Billy Blanks
1.4M amex points. Have hoarded them for awhile. Want to do a big Euro trip (flights etc ) w them but prob hasn’t been the best move.
This post was edited on 3/6/23 at 11:01 pm
Posted on 3/6/23 at 11:46 pm to Hou_Lawyer
Now this is impressive
Posted on 3/7/23 at 3:09 am to Teddy Ruxpin
quote:
As for people getting Chase UR, I feel like I basically use that for Hyatt hotels 90% of the time
Same here. I usually can save 50% - 70% on stays. Wish chase would have kept their pay yourself back program the way it was. It was a good way to keep my point balance in check.
Posted on 3/7/23 at 4:14 am to Niner
quote:This is so true. Marriot transfers are a horrible value in comparison but I've gotten some absolute steals transferring to hyatt
Hyatt points are insanely valuable as a transfer partner...
Posted on 3/7/23 at 7:34 am to Billy Blanks
We typically earn about $500-700 in cash back per year. We apply it back to the cc in December almost like a Christmas savings account.
Posted on 3/7/23 at 8:17 am to Billy Blanks
I put mine towards a statement credit every couple of months. About $2k a year
Posted on 3/7/23 at 8:26 am to Weekend Warrior79
quote:
Wouldn’t it basically be the same thing? If you get a statement credit, that’s $5 less you need to spend to pay off that balance. As a result, $5 more to spend and get the same $5.25?
No, I saw a article a while back saying the same as I did. But can't seem to find it
Let's say you go your route with two 100 dollar purchases.
Spend 100 and get 5 dollars back (5%). You credit that to your statement and make another 100 dollar purchase (95 with your credit). You will get 4.75 (5%) back on your 95 dollar purchase.
So you've spent $195 dollars and gotten $4.75 back you then stick in savings. So $195 spent and 4.75 in savings. So 190.25 spent.
Go my route and you spend 100, put 5 in savings. Spend and another 100 and put 5 in savings.
You've spent 200 dollars and have put 10 in savings. 190 dollars spent.
Whether you put in savings or just spend again towards your next credit card bill doesn't really matter much. Just used for clarification.
They don't pay rewards on statement credits. That's where the difference is.
This post was edited on 3/7/23 at 9:27 am
Posted on 3/7/23 at 8:27 am to Billy Blanks
900k AMex MR points
85k British Air Avios
95k Chare UR points
165k American miles
90k United miles
plus some other buckets with smaller amounts
I had a lot more Amex points but just transferred to Emirates and Air France for flights this summer and fall. They build up quickly so I'll be ready to redeem the next time we plan a trip.
85k British Air Avios
95k Chare UR points
165k American miles
90k United miles
plus some other buckets with smaller amounts
I had a lot more Amex points but just transferred to Emirates and Air France for flights this summer and fall. They build up quickly so I'll be ready to redeem the next time we plan a trip.
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