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re: Credit Card Rewards and Points Discussion
Posted on 4/7/16 at 9:05 am to Joshjrn
Posted on 4/7/16 at 9:05 am to Joshjrn
quote:
This is my concern. The lady friend and I have four free rooms from Hyatt sign up bonuses, and in theory, that property would be high up on the list for that bonus.
Redemption wise, it's a great value, but the actual cost benefit is not rack rate. I normally priceline a room for $120-150/night and get a get a 3.5 star and up. So in theory I only got ~$500 in savings.
If staying in US I'd go Napa Andaz during early fall, Hyatt Beaver Creek during ski season, one of the Hawaii properties, or even the Zilara/Ziva properties before I burned them in NYC again. Places that the time of year/location do not allow for any cheap lodging options.
quote:
On a related note, is there any fine print that we have to use those nights in the first year? I haven't seen anything, but I didn't know if Hyatt would let me start stacking the Tier 4 annual bonuses on top of the two unrestricted free nights from the sign up bonu
See above
.This post was edited on 4/7/16 at 9:07 am
2
Posted on 4/7/16 at 9:07 am to LSUAfro
quote:
See above .
Posted on 4/7/16 at 9:13 am to LSUAfro
quote:
If staying in US I'd go Napa Andaz during early fall, Hyatt Beaver Creek during ski season, one of the Hawaii properties, or even the Zilara/Ziva properties before I burned them in NYC again.
We were planning a trip to the Hyatt Beaver Creek this year, but just couldn't make the dates work for anything resembling reasonable airfare. I'll look into the others.
This post was edited on 4/7/16 at 9:14 am
Posted on 4/7/16 at 9:23 am to Joshjrn
Ok guys. Wife and I are having a baby this month. So I want to surprise her in the delivery room with a trip we will take around October. I have bought a house now so I am not worried about any temporary credit hit opening and closing cards will cause.
Should I open a Chase Sapphire Card in both our names?
Seems that would net us 625x2= $1,250 in travel rewards after hitting there spending threshold. Which we can both hit because I will get my parents to spend one of the cards to hit the money limit on one of the cards.
Is this my best bet? Anything else I should be thinking about? Also, should I close the cards right after using the rewards? How much does that impact credit score?
Thanks guys
Should I open a Chase Sapphire Card in both our names?
Seems that would net us 625x2= $1,250 in travel rewards after hitting there spending threshold. Which we can both hit because I will get my parents to spend one of the cards to hit the money limit on one of the cards.
Is this my best bet? Anything else I should be thinking about? Also, should I close the cards right after using the rewards? How much does that impact credit score?
Thanks guys
Posted on 4/7/16 at 9:27 am to lsupride87
quote:
Ok guys. Wife and I are having a baby this month. So I want to surprise her in the delivery room with a trip we will take around October. I have bought a house now so I am not worried about any temporary credit hit opening and closing cards will cause.
I like it.
quote:
Should I open a Chase Sapphire Card in both our names?
If by both of your names, you mean get one card each in a different name, yes.
quote:
Seems that would net us 625x2= $1,250 in travel rewards after hitting there spending threshold. Which we can both hit because I will get my parents to spend one of the cards to hit the money limit on one of the cards.
Accurate.
quote:
Is this my best bet? Anything else I should be thinking about?
This is likely your best bet based on what you're trying to do with it. Honestly, you have enough time to do a second round of applications once you hit that minimum spend. Ink+, Arrival+, or Chase Hyatt would all be nice options for what you're trying to do.
quote:
Also, should I close the cards right after using the rewards? How much does that impact credit score?
Heavens, no. Why on earth would you do that?
This post was edited on 4/7/16 at 9:28 am
Posted on 4/7/16 at 9:28 am to lsupride87
Sure, that would open many doors, but more importantly where do you want to go and for how long? I'd figure that out and then get cards accordingly.
Posted on 4/7/16 at 9:31 am to Joshjrn
quote:
Heavens, no. Why on earth would you do that
I'm closing my SW after my companion pass. Don't see the point in holding on after I get a CSP
Posted on 4/7/16 at 9:31 am to LSUAfro
quote:Probably just a 3-4 day getaway to somewhere like Charleston. So I am thinking the $1,250 should cover everything
Sure, that would open many doors, but more importantly where do you want to go and for how long? I'd figure that out and then get cards accordingly.
Posted on 4/7/16 at 9:32 am to Joshjrn
quote:Already have a Capital One and Southwest card. Just want to get the sign on bonus points for this trip. Is closing the card bad?
Heavens, no. Why on earth would you do that?
Posted on 4/7/16 at 9:33 am to lsupride87
quote:Probably just a 3-4 day getaway to somewhere like Charleston. So I am thinking the $1,250 should cover everything
Sure, that would open many doors, but more importantly where do you want to go and for how long? I'd figure that out and then get cards accordingly.
Posted on 4/7/16 at 9:34 am to lsupride87
I'd keep the card open unless it has an annual fee.
Posted on 4/7/16 at 9:35 am to lsupride87
quote:
Already have a Capital One and Southwest card. Just want to get the sign on bonus points for this trip. Is closing the card bad?
It's more unnecessary than it is "bad" I suppose. I have six credit cards, and I'm on the light end of this board
Posted on 4/7/16 at 9:40 am to Joshjrn
quote:it has an annual fee that is waived the first year only. That is the negative
It's more unnecessary than it is "bad" I suppose. I have six credit cards, and I'm on the light end of this board
Thanks for yalls help
Posted on 4/7/16 at 9:43 am to lsupride87
quote:
Probably just a 3-4 day getaway to somewhere like Charleston. So I am thinking the $1,250 should cover everything
Two CSP cards are probably a good bet. Their transfer partners would should allow you to travel/stay for free. Southwest, United, or even Avios(last option) can get you there. They also have a well situated Hyatt for 12k points/night.
Posted on 4/7/16 at 9:50 am to LSUAfro
quote:I am a little confused about the transfer. Why would I transfer points and not just redeem on the travel booking website chase provides?
Two CSP cards are probably a good bet. Their transfer partners would should allow you to travel/stay for free. Southwest, United, or even Avios(last option) can get you there. They also have a well situated Hyatt for 12k points/night.
Posted on 4/7/16 at 10:08 am to lsupride87
quote:
I am a little confused about the transfer. Why would I transfer points and not just redeem on the travel booking website chase provides?
While the transfer is 1:1 to partners, redemption value may be higher than 1.25. For example:
Chase values points at 1.25 cents per point through the portal
You can book flights on say Southwest that are valued at 1.75 cents per point
This post was edited on 4/7/16 at 10:10 am
Posted on 4/7/16 at 10:30 am to GenesChin
quote:
Chase values points at 1.25 cents per point through the portal
You can book flights on say Southwest that are valued at 1.75 cents per point
Exactly. And you can transfer points to Hyatt where rooms are 12k points/night. If you were to book through Chase, it would likely cost 15-25k points/night.
Posted on 4/7/16 at 10:30 am to GenesChin
quote:Exactly. So shouldnt I book the travel through Chases portal and NOT transfer the points?
While the transfer is 1:1 to partners, redemption value may be higher than 1.25. For example:
Chase values points at 1.25 cents per point through the portal
You can book flights on say Southwest that are valued at 1.75 cents per point
ETA: Nevermind, I see you point. So even though I am passing the 1.25 for a 1 transfer, I may get a 1.50 through the partner.
This post was edited on 4/7/16 at 10:32 am
Posted on 4/7/16 at 10:32 am to lsupride87
quote:
Exactly. So shouldnt I book the travel through Chases portal and NOT transfer the points?
Why would you want to get $1.25 per point value you when you could get $1.75 per point?
quote:
ETA: Nevermind, I see you point. So even though I am passing the 1.25 for a 1 transfer, I may get a 1.50 through the partner
This post was edited on 4/7/16 at 10:33 am
Posted on 4/7/16 at 10:36 am to lsupride87
quote:
So even though I am passing the 1.25 for a 1 transfer, I may get a 1.50 through the partner.
In this specific scenario, the "free money" value of 10,000 points are the following
Chase Portal = $125
Southwest = $150
The real key is getting the best point value flight. Some SW flights are say 1.3c / point while some are 1.75c/point.
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