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re: Credit Card Rewards and Points Discussion
Posted on 9/16/16 at 12:32 pm to AmeriKop45
Posted on 9/16/16 at 12:32 pm to AmeriKop45
quote:
MS on AmEx SPG as much as you can
I meant that I could open CSP + Hyatt or I can wait for Chase SPG.
DOes that mean we can transfer to SPG in the future?
1
Posted on 9/16/16 at 12:53 pm to GenesChin
9/21 there is rumor of higher bonus on AmEx SPG card. For those of you who are over 5/24 or don't care about it, brace yourselves. Good time to pick up both SPG AmEx since you will not be able to for much longer.
This post was edited on 9/16/16 at 12:54 pm
Posted on 9/16/16 at 1:00 pm to AmeriKop45
quote:
9/21 there is rumor of higher bonus on AmEx SPG card. For those of you who are over 5/24 or don't care about it, brace yourselves. Good time to pick up both SPG AmEx since you will not be able to for much longer.
Not sure I'm picking up what you are putting down
-AMEX about to jack up signup bonus for SPG card
-Chase about to release a super legit SPG card in February?
Posted on 9/16/16 at 1:40 pm to AmeriKop45
quote:
Once I am under 5/24 and I get this card, AmEx will have nothing that I want.
Old Blue still has a place in my heart..and in my wallet.
Posted on 9/16/16 at 2:01 pm to cmlsu
quote:
Old Blue still has a place in my heart..and in my wallet.
I hate my Amex Blue cash preferred. Nothing like getting to $48 rewards and only being able to pull out $25
Posted on 9/16/16 at 2:24 pm to AmeriKop45
forgive me, but what is 5/24 i know I can google it but I just would rather someone give me the laymans terms.
Posted on 9/16/16 at 2:36 pm to dabigfella
quote:
forgive me, but what is 5/24 i know I can google it but I just would rather someone give me the laymans terms.
Chase rejects any CC applications for people who have opened 5 new CC accounts in 24 months. So say I opened 5 credit cards of any type in January 2016, I'd have to wait until Jan 2018 to open a new Chase card
There are some exclusions to that policy for Chase private client stuff
Posted on 9/16/16 at 2:45 pm to GenesChin
got it, and thats in place to stop people from signing up, claiming rewards and bolting? I've never really gotten into the points game Id love to learn more. Ive always been a cash back card guy myself. I own a few convenience stores so I do most of my business shopping at sams club vs using vendors and I use the sams discover cash back card and I love it when they send me that huge check back every christmas but Id honestly love to learn more about the best types of cards out there to maximize points.
Ive read that points guys blog and see him taking wild trips in $30,000/piece seats on planes using points and Im just like WTF bc I do some major spending probably like $5m+ at sams club annually on a business card and then my personal card is mostly just dining out and thats it but how does a guy like that points guy blogger rack up the points like that and if so whats the best card for a business owner like myself
Ive read that points guys blog and see him taking wild trips in $30,000/piece seats on planes using points and Im just like WTF bc I do some major spending probably like $5m+ at sams club annually on a business card and then my personal card is mostly just dining out and thats it but how does a guy like that points guy blogger rack up the points like that and if so whats the best card for a business owner like myself
Posted on 9/16/16 at 3:06 pm to dabigfella
quote:
how does a guy like that points guy blogger rack up the points like that
He probably racks up a ton of points/perks in affiliated links on the blog.
More importantly, quality redemption on international first class flights is great value. I just booked a $11,000 RT corporate flight that would be 200,000 points ($2,000)
quote:
got it, and thats in place to stop people from signing up, claiming rewards and bolting?
Not necessarily bolting as much as opening a ton of cards for sign up bonuses. At that point, you likely cost them money.
quote:
I do some major spending probably like $5m+ at sams club annually
You can travel like a king
This post was edited on 9/16/16 at 3:12 pm
Posted on 9/16/16 at 3:11 pm to dabigfella
quote:
I use the sams discover cash back card
Amerikop can probably offer a better suggestion but given your high volume, you probably should use a Chase Freedom Unlimited Card combined with your new Chase Sapphire. You'd earn 1.5x points which for you is >7,500,000 points
I'm pretty sure you could book a different international RT first class trip every month at 5* hotels for a week and still have points left over
Posted on 9/16/16 at 3:14 pm to GenesChin
I can travel like a king with the cash back they give me to! Haha its just I saw on that guys blog he flew I think emirates airlines "suites class" the guy literally had a condo in the plane, living room, shower etc. It was $30,000. My god I would never pay that to fly but he makes it seem so simple with all his points and paying a $23 fee lol. The business cards Ive looked at are mostly capped at $50k annual spend or whatever for the wild point bonuses so thats where Im like wow how does this guy do it. I figured someone in here may have an answer. The reserve card does have killer rewards for dining but one can only eat so much haha the big spending is business expenditures.
I just looked up the freedom unlimited....its a personal card
ETA it was etihad residences suites class just looked it up, incredible really. They sent 2 cars to pick him up one for him and one for his luggage
I just looked up the freedom unlimited....its a personal card
ETA it was etihad residences suites class just looked it up, incredible really. They sent 2 cars to pick him up one for him and one for his luggage
This post was edited on 9/16/16 at 3:19 pm
Posted on 9/16/16 at 3:53 pm to dabigfella
Does it have to a business card for any other reason than to keep your business finances separate from your personal? I don't have a small business so forgive my ignorance.
Reason I ask is because you could get a freedom and a freedom unlimited but both are personal cards. Freedom would get you 5x points at Sam's up to $1500 a quarter which is half of one trip for you I know but points are points.
Reason I ask is because you could get a freedom and a freedom unlimited but both are personal cards. Freedom would get you 5x points at Sam's up to $1500 a quarter which is half of one trip for you I know but points are points.
Posted on 9/16/16 at 3:59 pm to dabigfella
quote:
dabigfella
Idk if you would want to get into full on "churning" so to speak but quite honestly, you don't need to.
You already have the reserve. If you want to keep things simple - just get the Freedom Unlimited card. It'll be a hassle free 7.5M Chase UR for you which is equivalent to $1.5x in travel. You're already in the millions and you could just pay for the $30,000 ticket.
7.5M chase points is a LOT of points. If you like to travel, then I would say you are missing out even. Cash Back is great otherwise and I would go with the DiscoverIt miles card which gives 3% cash back in year 1 or Citi Doublecash which gives 2% forever.
If Sam's only accepts AmEx, get the SPG card until you can.
This post was edited on 9/16/16 at 4:01 pm
Posted on 9/16/16 at 5:15 pm to AmeriKop45
quote:
Freedom Unlimited card
When you say I should get this, in what way is that beneficial to me. Are you saying get the freedom unlimited vs the sams discover card im currently using? I guess my question is what is the difference between personal cards and business cards, I guess thats more a question for my CPA but if there really was no difference why would they categorize them as such? I guess its one thing if you're going to default on a business CC and it would not affect your personal credit but could I charge all business expenses to a personal card? And if I can why not just charge them on this JPM reserve card I get or is the freedom still better than that for certain things bc from what my banker told me that JPM card is the ultimate card. Im really not sure if sams is amex only now, I know there are signs everywhere that they now accept it but Ive always used the discover card so I really wouldnt know but its completely plausible that visa dropped sams and added costco.
This post was edited on 9/16/16 at 5:18 pm
Posted on 9/16/16 at 6:05 pm to dabigfella
I got this from Chase today:
Thank you for contacting Chase about the refer a friend program.
I would like to inform you that the offer is no longer available. If the option to Refer a Friend becomes available in the future, you'll be sent a notification. I apologize for any inconvenience this has caused
Thank you for contacting Chase about the refer a friend program.
I would like to inform you that the offer is no longer available. If the option to Refer a Friend becomes available in the future, you'll be sent a notification. I apologize for any inconvenience this has caused
Posted on 9/16/16 at 6:28 pm to dabigfella
The cash back pales in comparison if you are patient and willing to do the research to get the best points/miles redemptions. 
Posted on 9/16/16 at 6:37 pm to dabigfella
quote:
Are you saying get the freedom unlimited vs the sams discover card im currently using?
Freedom unlimited gets 1.5% for every dollar you spend. You can then take those points and utilize your JP Morgan reserve and transfer then to travel partners and get more value than the usual 1 cent per point that you do for cash back. You could also utilize the ultimate rewards portal book travel through them using points. Instead of 1 cent per point of value you get 1.5 because you have the JP Morgan card.
quote:
I guess my question is what is the difference between personal cards and business cards
This was my question to you earlier. Based on this I'd stand by everyone's recommendation and get the freedom unlimited because with your spend your kill it with points. You could use it solely for business purposes to make it easier for your CPA come tax time.
Posted on 9/16/16 at 6:40 pm to dabigfella
quote:
And if I can why not just charge them on this JPM reserve card I get or is the freedom still better than that for certain things bc from what my banker told me that JPM card is the ultimate card. Im really not sure if sams is amex only now, I know there are signs everywhere that they now accept it but Ive always used the discover card so I really wouldnt know but its completely plausible that visa dropped sams and added costco.
Forgot to address this question. Yes the freedom unlimited is better for your Sam's purchases because the 1.5 points on everything. JP only get 1 point for those purchases and 3x on dining and travel.
Sam's accepts visa as it has been a freedom 5x category for the past 3 quarters.
Posted on 9/16/16 at 6:51 pm to Big Saint
I just looked it up, the freedom its up to $1500/quarter. I spend like 3x per day. Cigarettes are where it gets really expensive, cartons are over $50+. Are there any cards you know of that give you rewards beyond these set limits of $1500 or $50,000/yr bc I cant seem to find anything like that.
LINK
LINK
Posted on 9/16/16 at 6:53 pm to Big Saint
quote:
Freedom unlimited gets 1.5% for every dollar you spend. You can then take those points and utilize your JP Morgan reserve and transfer then to travel partners and get more value than the usual 1 cent per point that you do for cash back. You could also utilize the ultimate rewards portal book travel through them using points. Instead of 1 cent per point of value you get 1.5 because you have the JP Morgan card.
With this are you saying I would basically spend on the freedom and then transfer the points to the JPM card bc they get higher benefits with that card? Ok That I can grasp, Ive just never really done anything like that in the past.
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