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re: Credit Card Rewards and Points Discussion
Posted on 2/6/14 at 3:49 pm to Teddy Ruxpin
Posted on 2/6/14 at 3:49 pm to Teddy Ruxpin
quote:
I try to abuse my Freedom 5X categories
I need to learn where I can maximize my points.
My rewards cards are:
CSP (restaurants are double...any other suggestions?)
Amex Platinum (no double spending right?)
Amex PRG (Gas stations and grocery stores are x2)
Chase SW Premier (meh)
1
Posted on 2/6/14 at 3:49 pm to LSUAfro
quote:
I directly pay my CC from BB as well, and actually just used BB to pay my Amex today because Teddy said I could. If he's wrong, I'm going to type vulgarities
My response/removing culpability: YMMV
I haven't had a problem or FR since I got it in November, but of course, I'm not going nearly as crazy with it as other cards.
This post was edited on 2/6/14 at 3:50 pm
Posted on 2/6/14 at 3:49 pm to Teddy Ruxpin
quote:
Not having income is the real killer for her. She can't get a Capital One Secured Credit card or something similar?
Do this. My wife had to do this years ago and within 6 months was able to be accepted for most average credit cards.
Posted on 2/6/14 at 3:51 pm to htownjeep
quote:
My rewards cards are:
CSP (restaurants are double...any other suggestions?)
Amex Platinum (no double spending right?)
Amex PRG (Gas stations and grocery stores are x2)
Chase SW Premier (meh)
Sometimes the cards just aren't good for spending, and you should get them only with the intention for the bonus and burn the bastards.
If all I had was CSP I'd keep it at preferred if you really value UR points. But since I have Ink Plus 5x gas, office supply, cable/internet, 2x hotels and gas. I don't need to use it that much.
Freedom gives me better non category spend than the CSP as well since I get the 10% bonus with the checking account over the 7% dividend the CSP offers.
This post was edited on 2/6/14 at 3:53 pm
Posted on 2/6/14 at 3:52 pm to Teddy Ruxpin
quote:I'm curious to see if that ever is an issue for me. I got SPG gold with it last year for almost $35k in spend, with no issue, and probably $7-10k was MS.
I haven't had a problem or FR since I got it in November, but of course, I'm not going nearly as crazy with it as other cards.
ETA: But I'm about to burn some MS on my wife's SPG card with my new "business venture", but I don't care if they ask for a FR. I'll just close her card.
ETA: Maybe I should think that through
. Losing the AMEX line for her wouldn't be a major deal though. I just wouldn't tell her haha.This post was edited on 2/6/14 at 4:01 pm
Posted on 2/6/14 at 3:54 pm to LSUAfro
quote:
I'm curious to see if that ever is an issue for me. I got SPG gold with it last year for almost $35k in spend, with no issue, and probably $7-10k was MS.
I seriously think the people who get FRed are doing an amount that not only doesn't fit their income, it doesn't fit a possible household income or side business. Not to mention 5k( or 10, 15 or 20k) at CVS on one card every month without having cancer.
This post was edited on 2/6/14 at 3:55 pm
Posted on 2/6/14 at 3:55 pm to Mr BowTie
quote:
but my GF is having trouble getting a CC.
Why does she want one? Just to increase her score?
Do you by chance have an old card that has excellent usage (very little % of limit)? The older the better and the lower the % the better. You can add her on to that and that would help the score. Or maybe her parents have a card like that?
Example-I put my son on an oooooold cap one card that I have that isn't even in my wallet. I've had it for about 6 years-ish. I only keep about $20 charged on it and pay it down to $2 every month when I get the statement. Rinse, repeat. I usually just buy something small on amazon and use that card.
His credit went from zero (was 18 at the time and no credit at all) and now over a year later his score is better than mine (yours too).
Posted on 2/6/14 at 3:59 pm to Lsut81
quote:I'm just disappointed I didn't find out about it earlier.
I need to get on the BB thing... I am disciplined enough to rotate funds around and maximize those rewards.
Posted on 2/6/14 at 4:01 pm to Teddy Ruxpin
quote:
Sometimes the cards just aren't good for spending, and you should get them only with the intention for the bonus and burn the bastards.
Sounds like I'm about to shred some amex card(s).
Posted on 2/6/14 at 4:01 pm to LSUAfro
quote:
Not having income is the real killer for her. She can't get a Capital One Secured Credit card or something similar?
Do this. My wife had to do this years ago and within 6 months was able to be accepted for most average credit cards
I'll check it out.
She's basically tried several cards like Discover students and some of those other students cards and was denied.
You are right, though. Income is the killer.
I had small jobs in college and in the summer, plus had bank roll and several assets tied up, along with car insurance. That's when I got the Discover cash back card.
I figured she wouldn't have a problem with that but was instantly denied
Posted on 2/6/14 at 4:04 pm to Mr BowTie
quote:
I figured she wouldn't have a problem with that but was instantly denied
Sounds like her credit score is in the crapper. You can fix that very easily. Prepaid (secured) credit card will help. Also see my other post about an older card that you don't use.
Posted on 2/6/14 at 4:07 pm to htownjeep
quote:
Sounds like I'm about to shred some amex card(s).
I'd get the Chase Freedom if I were you. No fee and the 5% bonuses are usually good.
I'd change out the CSP for an Ink Bold or Plus before the fee hits.
The CSP and Ink cards allow you to transfer points from Freedom to Ultimate Rewards(CSP/Ink Bold/Plus).
Most of my spending is on my Chase and if I can't hit an extra bonus with any of them I use the SPG.
Posted on 2/6/14 at 4:07 pm to htownjeep
quote:
Why does she want one? Just to increase her score?
Do you by chance have an old card that has excellent usage (very little % of limit)? The older the better and the lower the % the better. You can add her on to that and that would help the score. Or maybe her parents have a card like that?
Example-I put my son on an oooooold cap one card that I have that isn't even in my wallet. I've had it for about 6 years-ish. I only keep about $20 charged on it and pay it down to $2 every month when I get the statement. Rinse, repeat. I usually just buy something small on amazon and use that card.
His credit went from zero (was 18 at the time and no credit at all) and now over a year later his score is better than mine (yours too).
She said she had called some places and she could get one if I co-signed? bad idea? I don't know enough about CCs to delve into that.
She doesn't really need a CC, but it makes sense. She has a ton of loan money to pay for things like gas, groceries, etc., so instead of using a debit card, why not use a CC and get rewards for it?
I could add her to my Discover card. I opened that almost four years ago. I don't use it anymore. Maybe a few times a year to put gas on it then I pay it off.
Posted on 2/6/14 at 4:08 pm to LSUAfro
quote:
I'd get the Chase Freedom if I were you. No fee and the 5% bonuses are usually good.
I'd change out the CSP for an Ink Bold or Plus before the fee hits.
The CSP and Ink cards allow you to transfer points from Freedom to Ultimate Rewards(CSP/Ink Bold/Plus).
Most of my spending is on my Chase and if I can't hit an extra bonus with any of them I use the SPG.
Exactly what I was doing until I got my Barlcay's, so :kige:
This post was edited on 2/6/14 at 4:09 pm
Posted on 2/6/14 at 4:10 pm to Mr BowTie
quote:
She said she had called some places and she could get one if I co-signed? bad idea? I don't know enough about CCs to delve into that.
She doesn't really need a CC, but it makes sense. She has a ton of loan money to pay for things like gas, groceries, etc., so instead of using a debit card, why not use a CC and get rewards for it?
I could add her to my Discover card. I opened that almost four years ago. I don't use it anymore. Maybe a few times a year to put gas on it then I pay it off.
Do you love her?
More importantly than that, do you trust her?
Because you're on the hook if she gets stupid with it.
Posted on 2/6/14 at 4:10 pm to Mr BowTie
quote:Yes
She said she had called some places and she could get one if I co-signed? bad idea? I
The secured route is the way to go. In 6 months she'll be good to go. Something like $50 gets $200 limit.
Posted on 2/6/14 at 4:11 pm to LSUAfro
quote:
The secured route is the way to go. In 6 months she'll be good to go. Something like $50 gets $200 limit.
Ya, I would think homeless people could get one of these so she should be able to.
Posted on 2/6/14 at 4:12 pm to Teddy Ruxpin
quote:I really should have gone the Barclay's route. I just got caught up in others
Exactly what I was doing until I got my Barlcay's
. Oh well. Maybe end of year. quote:Oh...Still a bad idea
Do you love her?
Posted on 2/6/14 at 4:14 pm to LSUAfro
quote:
I really should have gone the Barclay's route. I just got caught up in others . Oh well. Maybe end of year.
I feel like with the 3 Chase, the SPG, and the Barclay's I should be able to get enough value to make those all keepers, but we'll see.
I think every thing else will be a churn. But the game keeps changing so we'll see.
Posted on 2/6/14 at 4:14 pm to LSUAfro
quote:
The secured route is the way to go. In 6 months she'll be good to go. Something like $50 gets $200 limit.
Ya but even if her score goes up, would she still be able to get one even without income? She's likely to be in school until she's 27 or so, and maybe even more.
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