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1
Posted on 9/19/16 at 10:42 am to AmeriKop45
quote:
Yeah but Office Stores sell Gas/Grocery/Restaurant/Other merchant gift cards. Ink means 5x on pretty much everything.
Oh, meant to ask this. So, if you buy a gift card at a store that sales them, and has a 5X or some other reward, you still get the 5X on gift cards? Is it basically anything in the store? So at Office Depot, if I buy a longhorn gift card, it's 125 points?
If so, that might make the Ink more appealing, but I generally don't go to Staples or Office Max for anything. Is there a downgraded Ink card you could do after 1 year to avoid the AF?
Posted on 9/19/16 at 10:49 am to kywildcatfanone
quote:
Oh, meant to ask this. So, if you buy a gift card at a store that sales them, and has a 5X or some other reward, you still get the 5X on gift cards? Is it basically anything in the store? So at Office Depot, if I buy a longhorn gift card, it's 125 points?
Exactly.
quote:
If so, that might make the Ink more appealing, but I generally don't go to Staples or Office Max for anything.
Order codes online if you need to.
quote:
Is there a downgraded Ink card you could do after 1 year to avoid the AF?
Yes. Downgrade to Ink Cash after year 1. No AF. Ink Cash has $200 (or 20,000 points) offer. But Ink+ has the 60,000 points offer.
This post was edited on 9/19/16 at 10:51 am
Posted on 9/21/16 at 9:55 am to AmeriKop45
So reading this thread I'm wanting to pull the trigger on the CSR. The downside is I just signed up for the CSP in May, and I believe I remember people mentioning that if you cancel the card too soon after receiving the sign up bonus that they will claw back the points.(Might have been in regards to an AMEX card, I don't remember exactly)
Would it be better to sign up for the CSR, then once approved (fingers crossed) I could call Chase and downgrade to one of the Freedom cards?
On the other hand if all I have to do is hold onto the CSP until I get closer to my year and then cancel I wouldn't mind doing that.
Help me CC Gurus, you're my only hope.
Would it be better to sign up for the CSR, then once approved (fingers crossed) I could call Chase and downgrade to one of the Freedom cards?
On the other hand if all I have to do is hold onto the CSP until I get closer to my year and then cancel I wouldn't mind doing that.
Help me CC Gurus, you're my only hope.
Posted on 9/21/16 at 10:00 am to SLafourche07
Cancel in a few months if you want to. But CSR is a good keeper card if you travel/eat out a good bit. There is no reason to keep the CSP at this point. Basically for $55 more, you are getting a ton of benefits with CSR. (CSR AF $450, minus $300 travel credit, minus $95 CSP AF).
Read my argument on pg 383 and 385 on why you should get the Ink+ instead of CSP.
Read my argument on pg 383 and 385 on why you should get the Ink+ instead of CSP.
This post was edited on 9/21/16 at 10:04 am
Posted on 9/21/16 at 10:14 am to AmeriKop45
Read through the last few pages of this thread and was convinced I'd get the CSR until I saw the 5/24 rule.
I'm fairly new to the credit card game and have opened 5 in the last 24 months (2 being store credit cards). One of them is Chase, I saw someone mentioned they make exceptions for certain Chase customers?
What kind of exceptions? I have the chase freedom card, but upgrading it to the CSR wouldn't allow me to take advantage of the sign up bonus.
I'm fairly new to the credit card game and have opened 5 in the last 24 months (2 being store credit cards). One of them is Chase, I saw someone mentioned they make exceptions for certain Chase customers?
What kind of exceptions? I have the chase freedom card, but upgrading it to the CSR wouldn't allow me to take advantage of the sign up bonus.
This post was edited on 9/21/16 at 10:15 am
Posted on 9/21/16 at 10:17 am to AmeriKop45
Thanks. Yeah, if I get the CSR I will definitely be getting rid of the CSP. So if I just cancel the Preferred in a few months then I should be good?
The Ink cards are definitely on my list for the future if for nothing else the 5% UR on cellphone, internet, and cable.
The Ink cards are definitely on my list for the future if for nothing else the 5% UR on cellphone, internet, and cable.
Posted on 9/21/16 at 10:23 am to SLafourche07
quote:
Thanks. Yeah, if I get the CSR I will definitely be getting rid of the CSP. So if I just cancel the Preferred in a few months then I should be good?
The Ink cards are definitely on my list for the future if for nothing else the 5% UR on cellphone, internet, and cable.
Should be fine. Keep in mind 5/24. Ink is better to get due to long term potential.
quote:
I'm fairly new to the credit card game and have opened 5 in the last 24 months (2 being store credit cards). One of them is Chase, I saw someone mentioned they make exceptions for certain Chase customers?
What kind of exceptions? I have the chase freedom card, but upgrading it to the CSR wouldn't allow me to take advantage of the sign up bonus.
Apply then call in. Better yet, apply in branch so banker will help you. Chase will drop store cards a lot of times.
Only exception to 5/24 rule seems to be Chase Private Client customers. Need to have $250K on deposit with Chase to get invited for that. One day I'll have that
This post was edited on 9/21/16 at 10:25 am
Posted on 9/21/16 at 10:24 am to AmeriKop45
quote:
Order codes online if you need to.
When you say that what do you mean? I would get the ink plus card if I could use the 5x points and buy american express gift cards bc those I could use at sams club but the problem is there's probably limits like $500 gift cards or 1 gift card per transaction and im sure there's a cap on how much one can spend on the ink plus.
Posted on 9/21/16 at 10:26 am to dabigfella
I'm pretty sure Office Depot and Staples both sell AmEx GCs in store. Not 100% sure of this though. At WM/Sam's club, limit is 4 swipes per transaction. Swipes can be any amount.
Cap on Ink+ is 5X upto $50K a year. 1x after that. So use Ink+ at office stores to buy GCs up until $50K, then simply use Freedom Unlimited to get 1.5x.
By "ordering codes online" I meant you could buy GCs online and get quick email delivery instead of having to drive to the store.
Question for YOU:
How do I get into the cigarette and candy selling business so I can spend millions per year at anything but a loss?
Cap on Ink+ is 5X upto $50K a year. 1x after that. So use Ink+ at office stores to buy GCs up until $50K, then simply use Freedom Unlimited to get 1.5x.
By "ordering codes online" I meant you could buy GCs online and get quick email delivery instead of having to drive to the store.
Question for YOU:
How do I get into the cigarette and candy selling business so I can spend millions per year at anything but a loss?
This post was edited on 9/21/16 at 10:30 am
Posted on 9/21/16 at 10:42 am to AmeriKop45
Honestly, it looks like I may not apply for the CSR after all. I don't think I would even spend enough in the 4 months to redeem the sign up bonus. Nor have I really started traveling yet.
What's the next best? Should I try to get the freedom unlimited for the 1.5% cash back and just use my basic freedom card for the 5% category? Or is there another great card other than something Chase offers that is good for cash back with no annual fee?
What's the next best? Should I try to get the freedom unlimited for the 1.5% cash back and just use my basic freedom card for the 5% category? Or is there another great card other than something Chase offers that is good for cash back with no annual fee?
This post was edited on 9/21/16 at 10:45 am
Posted on 9/21/16 at 10:52 am to AmeriKop45
quote:
How do I get into the cigarette and candy selling business so I can spend millions per year at anything but a loss?
Haha buy a cheap store, they're all over the place.You can easily by a store for $100-150k and get into the business. They only get expensive with big name brands and when land is involved, business only is usually cheap. Im actually going to be selling all 5 of my stores in the next 24 months because Im wanting to get more into development on a few different pieces of land I have and so if you're serious we can talk more in the near future. Im in Houston fwiw and mine are name brand.
Posted on 9/21/16 at 10:55 am to AmeriKop45
quote:
How do I get into the cigarette and candy selling business so I can spend millions per year at anything but a loss?
Volunteer to do the purchasing for the local little league food/snack hut.
Posted on 9/21/16 at 11:06 am to dabigfella
Considering you don't pay taxes on CC Rewards, how does that work for tax purposes and business transactions?
Seems like a good way to increase your margins by reducing tax liability
Seems like a good way to increase your margins by reducing tax liability
This post was edited on 9/21/16 at 11:11 am
Posted on 9/21/16 at 11:18 am to GenesChin
quote:
dabigfella
I only kid, my friend. Just wanted to point out you are in the ideal position to make use of the system.
quote:
GenesChin
How does CC reward reduce tax liability? Only thing is they don't add to it, but I don't see how they decrease.
As far as margins are concerned, the math is simple. You can easily increase your margin by at least 2% with a CB card like DoubleCash. Only thing is that this is a personal card.
If you like to travel and would spend the money anyway, you are simply pre-paying the 2% in opportunity cost to travel (in style).
Posted on 9/21/16 at 12:07 pm to dabigfella
quote:
dabigfella
I'm in Houston, but don't have the cash right now to mess with a name brand store, but I'd be interested in picking your brain. I've looked at some small stores and washaterias, but never pulled the trigger.
You can send me an email at tdnoodz@yahoo.com if you don't mind sharing your experience.
Posted on 9/21/16 at 12:24 pm to Lazy But Talented
quote:
Honestly, it looks like I may not apply for the CSR after all. I don't think I would even spend enough in the 4 months to redeem the sign up bonus. Nor have I really started traveling yet.
What's the next best? Should I try to get the freedom unlimited for the 1.5% cash back and just use my basic freedom card for the 5% category? Or is there another great card other than something Chase offers that is good for cash back with no annual fee?
Not much really. Most of your bigger bonuses have that $4k threshold for minimum spend. I didn't know if I could meet the minimum spend either, but I switched all my bills that I could pay with a credit card to my new CSR and began to use it for every purchase that made sense. I pay it off the day after I use it for every transaction so I don't get behind. I have already spent over $2,000 in just a month.
Posted on 9/21/16 at 12:24 pm to AmeriKop45
quote:
How does CC reward reduce tax liability? Only thing is they don't add to it, but I don't see how they decrease.
It is a geography movement of where you are taking your "profit" to not pay taxes. Let's use 1.5% FreeU as an example
Say DaBigFella had a target profit of 1.5%. DBF could price his goods at cost and then pull the 1.5% FreeU out as cash rewards. By doing that, he is avoiding paying FICA & income taxes
CC rewards are considered a "rebate" and not taxable since it is a refund of a purchase with after tax $. That dynamic radically changes when you consider it if before tax $ for someone like DBF purchasing for a business
This post was edited on 9/21/16 at 12:28 pm
Posted on 9/21/16 at 1:08 pm to GenesChin
I am going to get Chase Freedom Unlimited card due to the 1.5% cashback.
Can I get my car payments, rent, and insurance all charged to a credit card for cash back purposes?
Can I get my car payments, rent, and insurance all charged to a credit card for cash back purposes?
Posted on 9/21/16 at 1:25 pm to dabigfella
quote:
Im actually going to be selling all 5 of my stores in the next 24 months because Im wanting to get more into development on a few different pieces of land I have
Quick hijack... You are getting out of this particular business altogether? That's a big risk considering you've done very well with the current stores. I'd be hesitant to get out of all 5 at once but you know this stuff better me. You getting bored with it or what?
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