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re: Credit Card Rewards and Points Discussion
Posted on 9/14/16 at 1:34 pm to GenesChin
Posted on 9/14/16 at 1:34 pm to GenesChin
On a side note - for a "travel hacker" the CSR is not really that useful unless you have Ink+. However, if you do have the Ink+, that is where the fun begins.
Also - I have been interested and have been looking into some HGP redemptions. There are a lot of cases where it takes lesser points to book a room using the 1.5x conversion rate rather than paying the HGP points. My personal experience is from the Andaz Amsterdam. Room rate is $287 or 19,100 UR compared to 25,000 points award. And you earn qualifying stay credit + HGP points with option 1. However, this would also be the case with the CSP, where it would cost 22,960 UR per night. TL;DR - Do the math before you transfer/redeem.
Also - I have been interested and have been looking into some HGP redemptions. There are a lot of cases where it takes lesser points to book a room using the 1.5x conversion rate rather than paying the HGP points. My personal experience is from the Andaz Amsterdam. Room rate is $287 or 19,100 UR compared to 25,000 points award. And you earn qualifying stay credit + HGP points with option 1. However, this would also be the case with the CSP, where it would cost 22,960 UR per night. TL;DR - Do the math before you transfer/redeem.
This post was edited on 9/14/16 at 1:41 pm
1
Posted on 9/14/16 at 1:44 pm to GenesChin
quote:
If you are well under 5/24,
Is 5/24, I see that a lot on here, is that 5 cards in 24 months with the same bank such as Chase, or is that 5 cards in 24 months overall?
Posted on 9/14/16 at 1:47 pm to AmeriKop45
quote:
AmeriKop45
So, the Ink is $95 with 60K sign up bonus. They have huge numbers though, mentioned $50K spend in a year, I'm closer to maybe 2/3 of that across all cards, but I guess that means if you spend more than $50K those benefits are diminished, so I guess that wouldn't be an issue.
I'm tempted to do the Ink and the CSP, just to quickly get 220K points, but I'm not sure what the value of those are ultimately since I've never had a Chase card or used their rewards.
Also, I have a Delta Amex Platinum, since Delta is my main carrier at home, and usually book my flights with it, but I only fly 2-3 times a year usually.
Posted on 9/14/16 at 1:47 pm to kywildcatfanone
5 cards in 24 months overall with some exceptions. (Chase/AmEx/BoFA business cards, possibly recent AmEx personal cards).
Get the points now. I assure you they are of value. If you need help redeeming, just come and ask here. At the very least they are worth a hassle free $3,300 in travel. 220K points will get you and your +1 literally anywhere on the planet. The $50K is the limit up until which you earn the 5x and 3x at office stores and gas stations respectively. If you can hit that limit, you should have had this card long ago. If you can't, then it is a non-issue. However, like I said, plenty of ways to flow your regular spend through office stores.
Not worth justifying a card just for 2-3 times a year. Besides, UR will give you access to award flights on Delta anyway through their SkyTeam partners - Flying Blue and Korean.
quote:
So, the Ink is $95 with 60K sign up bonus. They have huge numbers though, mentioned $50K spend in a year, I'm closer to maybe 2/3 of that across all cards, but I guess that means if you spend more than $50K those benefits are diminished, so I guess that wouldn't be an issue.
I'm tempted to do the Ink and the CSP, just to quickly get 220K points, but I'm not sure what the value of those are ultimately since I've never had a Chase card or used their rewards.
Get the points now. I assure you they are of value. If you need help redeeming, just come and ask here. At the very least they are worth a hassle free $3,300 in travel. 220K points will get you and your +1 literally anywhere on the planet. The $50K is the limit up until which you earn the 5x and 3x at office stores and gas stations respectively. If you can hit that limit, you should have had this card long ago. If you can't, then it is a non-issue. However, like I said, plenty of ways to flow your regular spend through office stores.
quote:
Also, I have a Delta Amex Platinum, since Delta is my main carrier at home, and usually book my flights with it, but I only fly 2-3 times a year usually.
Not worth justifying a card just for 2-3 times a year. Besides, UR will give you access to award flights on Delta anyway through their SkyTeam partners - Flying Blue and Korean.
This post was edited on 9/14/16 at 1:53 pm
Posted on 9/14/16 at 2:43 pm to AmeriKop45
quote:
There are a lot of cases where it takes lesser points to book a room using the 1.5x conversion rate rather than paying the HGP points.
I'm usually the opposite, in my 6 HGP redemptions I've never had sub 2c/p. My average is around 2.75c/p
General rule of thumb for me
Bigger City/Tourism = HGP redemption
Smaller off peak City w solid/nice hotel = CSR
This post was edited on 9/14/16 at 2:49 pm
Posted on 9/14/16 at 3:01 pm to GenesChin
Yeah, I don't doubt it. I am just pointing out the potential arbitrage. Even the Hyatt Ziva at Cancun makes sense to book through UR portal. $387 or 25,800 UR points through portal. You also earn at least 1,935 points per night, More if you are an elite. So compare 26,935 booked through HGP points to 25,800 booked through portal. Not factoring in stay credit.
This post was edited on 9/14/16 at 3:02 pm
Posted on 9/14/16 at 3:10 pm to AmeriKop45
quote:
Even the Hyatt Ziva at Cancun makes sense to book through UR portal. $387 or 25,800 UR points through portal.
Depends on what type ofyear you are looking to go. Peak season, Cancun/Rose Hall are $700-800+ for a standard room.
Posted on 9/14/16 at 3:22 pm to AmeriKop45
Additional thing to think about is the taxes/fees they tack onto rooms which i belivee you pay.
An intl trip I just took had me (company) paying some 25+% on top of the room rate for service fee, taxes etc
An intl trip I just took had me (company) paying some 25+% on top of the room rate for service fee, taxes etc
Posted on 9/14/16 at 4:02 pm to GenesChin
Yeah, it definitely varies case by case, but something worth looking into at time of redemption. Saved me over 18K points over 3 nights.
Posted on 9/14/16 at 4:41 pm to AmeriKop45
quote:
Get the points now. I assure you they are of value.
Thanks.
So here is a dumb question. Why do these card companies offer decent rewards to begin with? Is it because a lot of people carry balances so they pay loads of interest, or do they make enough money off of other products that the losses they take on providing points is easily offset?
Posted on 9/14/16 at 4:45 pm to kywildcatfanone
quote:
Is it because a lot of people carry balances so they pay loads of interest, or do they make enough money off of other products that the losses they take on providing points is easily offset?
Yes, most people frick up and pay lots of interest and fees. There is also the (shrinking) fees payment processors collect every time you use the card.
It isn't that the CC is a loss leader, it is however, an avenue to sell you more products.
ETA: I forgot to mention the Sapphire Reserve bonus is only this high because they are in a customer acquisition phase. It will go down.
This post was edited on 9/14/16 at 5:24 pm
Posted on 9/14/16 at 4:50 pm to AmeriKop45
quote:
Not worth justifying a card just for 2-3 times a year. Besides, UR will give you access to award flights on Delta anyway through their SkyTeam partners - Flying Blue and Korean.
I got the Delta Amex platinum for the 60K rewards for sign up, and it's nice to have the companion certificate, those items plus the baggage fees being waived make it worth the $195 annual fee I think.
Posted on 9/14/16 at 5:22 pm to AmeriKop45
quote:
How do you know they did that for cancelling the card?
The Member Services agent said that on the phone.
quote:
File a CFPB complaint and then send them a claim to go into arbitrage.
Will do
Posted on 9/14/16 at 10:01 pm to Teddy Ruxpin
So Freedom 4Q categories are out with Department Stores, Drugstores and the continuing Wholesale. No Amazon but you can max that at Drugstores if you wish. Wholesale also is pretty easy to fill up since every time you go to Costco you spend $300.
Posted on 9/15/16 at 9:15 am to Lsut81
quote:
I'm going to downgrade my CSP, so I don't lose the points on it. For some reason, they said you can't roll the CSP points to the CSR.
Just following back up on this to let you know that you can absolutely transfer your CSP points to your new CSR card. Just transferred mine on the UR website with no problem. I will probably still just downgrade the CSP to a Freedom card instead of cancelling it, but you at least have that option if you so choose.
Posted on 9/15/16 at 10:06 am to wareagle47
what are the exact steps to transfer I need to do that
Posted on 9/15/16 at 10:42 am to nolaks
quote:
what are the exact steps to transfer I need to do that
Once you are logged into online banking, you should be able to access your UR portal. There you can elect to transfer points to another credit card in your name.
Posted on 9/15/16 at 10:43 am to htownjeep
Has it been discussed that PenFed's cash rewards card gives you 5% back on gas at Costco? That is better than Costco's 4%.
Posted on 9/15/16 at 11:11 am to nolaks
quote:
what are the exact steps to transfer I need to do that
Log in to the UR portion of Chase's website, hoover your mouse over your points balance, and at the bottom of the dropdown menu will be an option to "Combine points." From there its pretty easy.
Posted on 9/15/16 at 11:14 am to notsince98
quote:
Has it been discussed that PenFed's cash rewards card gives you 5% back on gas at Costco? That is better than Costco's 4%.
You have to spend a metric frickton on gas to make that marginal increase in rewards a huge amount.
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