re: Credit Card Rewards and Points Discussion

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My Dad transferred his 60k to me. He had no idea he even had them from his chase freedom

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Nice.

I have no personal experience with the transfer issue. The damn website allows you to transfer to ANYBODY, yet reports are numerous of shut downs.

I figure, call them up and do it there shouldn't be an issue.

What do you guys use for hotel rewards?

I have been a Marriott Gold member for a few years, but now that I have the AMEX Gold & Plat, I am thinking that I might start using starwood.

Doing some research, I am not getting the best bang for my buck with Marriott. What do you guys use? IHG, Hyatt, Starwood?

I see one of you dickheads found an OTR in BR with VRs and tried hiding them.

Normally I pay for the rooms and save the points, then use the points for 2-3 trips per year.

SPG is hard to beat and gives gold status with 30k spend.

IHG gives free night annually which can far exceed the $49 fee and platinum status.

Hyatt has some really good value redemptions. Really depends on where you want to stay.

The spg is nice because you can transfer points to airlines and get a 25% bonus for doing so and they have dozens of transfer partners.

Yea that's what I am leaning towards. I will already have gold status since I have the AMEX platinum.

I just like to focus all my efforts toward one thing. I don't spend enough per year to have 10 different cards and rewards programs and benefit from all of them. I have AMEX gold, plat, delta R, and Marriott premier.

Gold - everyday purchases
Plat - just for the perks when traveling
Delta Reserve - perks when traveling
Marriott - hotels

Once I spend all my Marriott points this year I will probably hang on to the card for the free night per year, but I am going to start staying at Starwood locations.

Also, sometime this summer I'll probably pick up the CSP so that I can get the bonus and transfer those points to Marriott

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What do you guys use for hotel rewards

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Azazello,

You ran into the same exact problem I did. I love being treated like a King at Marriott but the value just is not there.

I have CSP on the way and I will start using that card. As soon as AmEx improves the benefits for their Platinum card holders, I will jump on that card and unwind from Marriott.

The instant gold status at Starwood makes it worth it for me.

Sorry if this question is out of place. I currently have a Chase Freedom card and an Amazon card (just beginning to earn credit). My credit score is 689 but my income is around $35k. Should I close the two other accounts and begin looking at an entry level AMEX?

Ok, thank you for the advice

Whats the ideal number of cards to have open?

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Whats the ideal number of cards to have open? 

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To be technical, and to bust a common misconception, this number has nothing to do with your score. It may become an issue if you have 7 cards from the same bank who may decline your 8th card, but that isn't a score issue, it's a business decision.

what matters are credit age (older the better), applications (applications temporarily reduce score and many in short time reflect credit risk), and credit utilization (how much credit you use of the total available to you).

Therefore, applications and acceptance lowers your average credit age, but may better your utilization because your limits will rise. They all work together. Of course on time payments are a huge factor but that goes without saying, and should be assumed if you get a rewards card.

Your Chase freedom is actually a good card and more importantly, has no annualfee, keep it open and active. It will grow nice and old.