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re: Credit Card Rewards and Points Discussion
Posted on 9/12/16 at 7:16 pm to Lsut81
Posted on 9/12/16 at 7:16 pm to Lsut81
Got approved for the premier gold Amex with a 50k point bonus after 2k spent in first three months.
Considering either upgrading it to a platinum in the near future or just applying for the platinum separately and carrying both. This might be the option for me since I don't have to pay an AF since I'm military.
I already have a Barclay card arrival plus fwiw.
Considering either upgrading it to a platinum in the near future or just applying for the platinum separately and carrying both. This might be the option for me since I don't have to pay an AF since I'm military.
I already have a Barclay card arrival plus fwiw.
This post was edited on 9/12/16 at 7:17 pm
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Posted on 9/12/16 at 7:34 pm to Lsut81
So, how do you guys do this, do you sign up for a card to get the sign up points, then keep it for X amount of time, and then get another one from a different vendor on a regular basis?
Do you close the account completely on the card you are abandoning, or only ones with an annual fee?
Do you close the account completely on the card you are abandoning, or only ones with an annual fee?
Posted on 9/12/16 at 7:34 pm to Lsut81
quote:
I'm going to downgrade my CSP, so I don't lose the points on it. For some reason you can't roll the CSP points to the CSR.
That was going to be my next question. So I can't transfer my current CSP points balance to the CSR? That seems dumb. I thought UR points are UR points and are interchangeable no matter which card they were earned on.
Posted on 9/12/16 at 7:41 pm to kywildcatfanone
quote:
Do you close the account completely on the card you are abandoning, or only ones with an annual fee?
Only ones with annual fees, but those are the ones that offers biggest sign up bonuses.
Posted on 9/12/16 at 7:42 pm to wareagle47
quote:
That seems dumb. I thought UR points are UR points and are interchangeable no matter which card they were earned on.
Agree, but rep said no...
But prob not bad to have a no annual fee chase card to keep the points for burning the others.
Posted on 9/12/16 at 8:20 pm to Lsut81
quote:
Agree, but rep said no...
But prob not bad to have a no annual fee chase card to keep the points for burning the others
So you are downgrading the CSP to get rid of the annual fee? What are you downgrading to?
Posted on 9/13/16 at 6:06 am to wareagle47
quote:
So you are downgrading the CSP to get rid of the annual fee? What are you downgrading to?
No clue yet... I'll decide within the next month, since my annual doesn't kick in until Nov.
No reason to have the CSP and CSR
Posted on 9/13/16 at 9:13 am to Lsut81
Yeah. Another case of reps knowing nothing. UR points are interchangeable. Take it from someone who has similar activity every month.
The Cash back cards (Freedom, Freedom Unlimited, Ink Cash) earn cash back in form of UR points. As long as you have at least 1 other UR earning card (Ink+, CSP, CSR), you can transfer the "cash back UR" into the "points UR" bucket and then transfer them out to partners. THe cash back remains cash back unless you have CSP, CSR or Ink+.
Remember - All UR is cash back, but not all cash back is UR, but can be. (You need to have CSP/CSR/Ink+).
The Cash back cards (Freedom, Freedom Unlimited, Ink Cash) earn cash back in form of UR points. As long as you have at least 1 other UR earning card (Ink+, CSP, CSR), you can transfer the "cash back UR" into the "points UR" bucket and then transfer them out to partners. THe cash back remains cash back unless you have CSP, CSR or Ink+.
Remember - All UR is cash back, but not all cash back is UR, but can be. (You need to have CSP/CSR/Ink+).
This post was edited on 9/13/16 at 9:18 am
Posted on 9/13/16 at 9:33 am to AmeriKop45
So basically I still need to keep another Chase card open. Currently, the only Chase card I have is the CSP (with about a 50K points balance), and my plan was to cancel it once I received the CSR.
So you are saying in order to not lose the 50K points I have, the best thing to do would be to convert my CSP into a different Chase card?
So you are saying in order to not lose the 50K points I have, the best thing to do would be to convert my CSP into a different Chase card?
Posted on 9/13/16 at 9:37 am to wareagle47
Is the CSR worth an upgrade for low spenders?
Average approx 3k a month on my cards. Have the Barclay Arrival but considering the CSR/CFU combo.
Travel and dining I'd say would average $400-500 a month.
Average approx 3k a month on my cards. Have the Barclay Arrival but considering the CSR/CFU combo.
Travel and dining I'd say would average $400-500 a month.
Posted on 9/13/16 at 9:37 am to wareagle47
quote:
So you are saying in order to not lose the 50K points I have, the best thing to do would be to convert my CSP into a different Chase card?
It is to transfer the points from CSP to CSR
Posted on 9/13/16 at 9:43 am to Dellort
quote:
Average approx 3k a month on my cards. Have the Barclay Arrival but considering the CSR/CFU combo.
3k/mo is probably on the above average side for spend.
Also, pretty sure you do not get the full bonus if you upgrade to the CSR vs applying as a new card.
Posted on 9/13/16 at 9:47 am to wareagle47
Once you receive CSR, cancel CSP after transferring points out to CSR bucket.
CSR makes sense for EVERYONE in year 1. The 100,000 points is worth at least $1,000 in straight cash back or $1,500 in easy travel cash. Worth a lot more once you transfer to airline partners. You also get $300 twice (Each calendar year) in year 1 for a total of $600. Plus Global Entry credit for $100.
So in year 1 you pay $450 for $600 in travel reimbursement, at least $1,000 worth of points (potentially valued at over $2,100), and $100 GE credit.
These are straight monetary benefits. Then there are fringe benefits such as lounge access etc. Although I don't attach value enough to pay any incremental fee for this, if you can use this - its pretty awesome.
CSR makes sense for EVERYONE in year 1. The 100,000 points is worth at least $1,000 in straight cash back or $1,500 in easy travel cash. Worth a lot more once you transfer to airline partners. You also get $300 twice (Each calendar year) in year 1 for a total of $600. Plus Global Entry credit for $100.
So in year 1 you pay $450 for $600 in travel reimbursement, at least $1,000 worth of points (potentially valued at over $2,100), and $100 GE credit.
These are straight monetary benefits. Then there are fringe benefits such as lounge access etc. Although I don't attach value enough to pay any incremental fee for this, if you can use this - its pretty awesome.
This post was edited on 9/13/16 at 9:48 am
Posted on 9/13/16 at 9:49 am to Dellort
quote:
Is the CSR worth an upgrade for low spenders?
Average approx 3k a month on my cards
I would consider myself an above average spender on CC and only do $1500 in true spend.
If you spend $500/mo on dining out alone with CSR, you earn identical points as the CSP if you count the $300 travel credit as 1:1 $ value
Posted on 9/13/16 at 9:58 am to AmeriKop45
Makes sense...my original plan all along was to transfer the CSP points to the CSR and then cancel the CSP. Just wanted to make sure Chase would allow that.
In order to get the full $600 in travel credit before the $450 you would have to spend $300 in travel sometime between now and this December correct?
In order to get the full $600 in travel credit before the $450 you would have to spend $300 in travel sometime between now and this December correct?
Posted on 9/13/16 at 10:01 am to AmeriKop45
quote:
You also get $300 twice (Each calendar year)
Had no idea it worked that way. Very nice to know.
Posted on 9/13/16 at 12:20 pm to wareagle47
quote:
In order to get the full $600 in travel credit before the $450 you would have to spend $300 in travel sometime between now and this December correct?
Yes.
Instead of cancelling CSP, downgrade to Freedom or Freedom Unlimited. No AF cards and good UR earning potential. Plus your average age of accounts stays up.
Posted on 9/13/16 at 12:26 pm to AmeriKop45
If you open a CSR in December, spend $4000 for 100k bonus + $300 DEC travel credit, $300 January travel credit
can you cancel the card and get the $450 AF returned too?
can you cancel the card and get the $450 AF returned too?
Posted on 9/13/16 at 12:27 pm to GenesChin
Yes you can. But good luck having any sort of relationship with Chase after that.
ETA: I would do it to AmEx. Not to Chase.
ETA: I would do it to AmEx. Not to Chase.
This post was edited on 9/13/16 at 12:29 pm
Posted on 9/13/16 at 12:30 pm to AmeriKop45
quote:
Yes you can. But good luck having any sort of relationship with Chase after that.
ETA: I would do it to AmEx. Not to Chase.
I couldn't do it but would be a pretty bold strategy
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