Can yall see any downside to just sitting on them and building them more and then using them once travel opens back up. That was my plan. I saw something about them being devalued somehow? They're probably only worth $1,000 or something if I pay myself, doesn't really move the needle that much for me.
They're 1.5 cents if you cash out now Holding them is choosing a travel gift certificate over cash of equal value
so you’re just saying that you can get as much cash back as the travel value? I.e. it used to make more sense to use them for travel because you got more bang for your buck-but not any more-or at least for now.
Yes they're trying to limit their point liabilities so you can get as much cash as you would've travel credits The only reason not to cash out is if you have a firm trip planned and you're transferring points to United or Hyatt or something
They are not physically giving you cash if that is what you are asking but using points to pay off your statement balance is pretty close.
if it gives you a negative balance you can call chase and they’ll direct deposit the amount or send you a check.
Right but it’s not straight cash back on all purchases (or the entirety of your balance) it’s only in certain categories. If I’m missing a change I’ll be happy to be wrong as I have plenty of points I’d like to use.
I think the point is that you get 1.5 cent per point only if you're offsetting grocery, dining and home improvement purchases.
Been back and forth in this. Points can go down in value with the press of a button. Cash is cash. Seen too many devaluations to hold past Rona.
I'm saving my UR points because 1) I'm new to the game with only 90K points 2) I know I'll be traveling when this shit clears 3) I want to transfer to Hyatt when I get around to getting the Hyatt card I may get burned but I don't have enough to feel like I got fucked too bad.
Does anyone know if security systems code as home improvement for chase? Just had to have a system installed today, looked on the chase site and didn’t see.
So I should get a Hyatt card and transfer points to Hyatt? They go further that way? The Hyatt Zalara in Cancun is a badass resort and I’d definitely go back.
You should get the Hyatt card for sure. You should only transfer points to Hyatt when you have a specific redemption ready
Some of the hyatts let me use Chase points when booking. My question is whether the points would go further if I transferred them to Hyatt points and then use those points to book the place. I would think the answer would be yes.
Any credit card company and any travel provider can devalue their points at any time. Chase has complete discretion to announce today that Ultimate Rewards points are now only worth 50% of what they were yesterday. This is why it's always a little risky to just "hoard" points and not use them. Right now through September 30th, Chase has rolled out a "Pay Yourself Back" program which allows you to redeem your points for statement credits for purchases at restaurants, grocery stores, and home improvement stores at a 1.5x rate. So, for example, let's say I go spend $150 at Home Depot. I can redeem 10,000 of my Chase points, which normally have a cash value of $100 and travel value of $150, as a statement credit for that purchase. The 1.5x value of those points for travel are thus worth the same amount for purchases at restaurants, grocery stores, and home improvement stores through September 30th. Most of us are "paying ourselves back" with Chase points for everything that we can right now because a dollar today is worth more than a dollar tomorrow; I'd rather have that $150 in my pocket today which I can use for anything, including purchasing future travel, than have that $150 in my pocket six months or a year from now that can only be redeemed for travel. I think it would be wise for you (and everyone else) to do the same. Not necessarily. The Chase points could be more valuable when they're redeemed through the Chase portal, or they could be more valuable when redeemed through Hyatt. It just depends on the timing, availability, etc. So, you should not transfer them to Hyatt now because it's possible that those points will be more valuable when they're used in the Chase portal and it's possible that Hyatt devalues those points between now and the time you're ready to use them. So, since Chase points are also only transferable one way -- from Chase to Hyatt and not the other way around -- you should always hold onto your Chase points and only transfer them when you're ready to book the travel and after you've confirmed that the points have a higher redemption rate through Hyatt rather than the Chase portal.
Ugh, I'm stuck in Amex pop-up hell. What is the plan to get out of this? Is it still put put spend on your Amex cards and wait it out? Or is there something else?
It will be interesting to see what happens to credit card point values / redemption rates going forward. The entire travel industry has been upended. I would think that CC points will only continue to get devalued further from here as airlines, hotels, resorts desperately need cash purchases but at the same time I am not entirely sure what their revenue looks like when points are used. With that said, I am using the "pay yourself back" option as much as possible.
Aight I could use your guys' input: Been a Chase churner for a bit now, 130k points currently. I have CSR and some CIP rewards I earned, but obviously travel is a bit restricted right now and also just got married. Wife wants a joint credit card for our joint expenses. She has Bank of America Platinum status and I guess that has its own perks I'm not familiar with. So. Whats the move? Add her as an authorized user on the CSR? Get a Freedom? Or do I make the switch to Bank of America's CCs. Or keep CSR for myself and jump on another one for the joint account to keep the perks? Thanks!
If someone where reading this post only and didn’t have any context, they would think you’re the biggest idiot on the board (it sounds like you turned 300k points into 5k points) but that’s awesome
Hyatt adding suites to their point redemption is a nice new feature. I’ve been looking at booking a week in Kauai for a smaller honeymoon later this year (expecting to cancel) and the standard room is 25k points, so 150k for the week at a value of $3,200. The base suite would run 240k points but a value of $8,250.
Thanks for the heads up! Had our honeymoon booked next year at the Grand Hyatt in Kauai in a standard room. Brb upgrading to a suite now.
In the process of building a house, and I should be closing and moving in at the end of August. I've got to buy a lot of furniture, appliances, etc. in the next couple months. Currently have a Chase Freedom Unlimited card. I was thinking about opening another card or upping with Chase for these purchases. Any suggestions or cards you recommend that offer a good incentive for certain spending thresholds in the first few months?
Chase Sapphire Reserve for sure. You'll probably be able to hit the minimum spend on two pretty easily so what are you looking for otherwise? Hotel or airline preferences?
Could also go with the Chase Freedom if you want interest free financing for 15 months, then transfer the points down the road to the Reserve.
I picked up the Southwest Priority card earlier this year when it was a 75k bonus. I wouldn't do it for 40k, which it currently is at, but something to keep in mind. I had the AMEX Delta Platinum up until a few weeks ago when the AF hit. I don't live near a hub so it was extremely difficult to utilize the companion pass and they jacked the fee up to $250.