Credit Card Thread - Now with a Beginner's Guide to free travel/FAQ

Discussion in 'The Mainboard' started by blind dog, Apr 10, 2015.

  1. colonel_forbin

    colonel_forbin Well-Known Member
    Donor

    Gotcha. Since I already have a cash back card (Quicksilver), I was thinking it would be good to get a travel card. I don't like the $95 annual fee, but the Venture is $59 so I guess $35 extra a year isn't bad.
     
  2. Arkadin

    Arkadin inefficiently efficent and unclearly clear
    Donor

    You can redeem it for cashback as well, it's up to you. There just isn't a bonus on cashback like there is travel. I'm 10 months in and have 110,000ish points, the fee doesn't bother me because even if I earn no more points I'm making a profit for the next 11 years
     
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  3. DuffandMuff

    DuffandMuff Well-Known Member
    Tampa Bay LightningSan Diego Padres

    Could be true, but I'm only comparing it to chase freedom since it has no AF.
     
  4. Bo Pelinis

    Donor TMB OG
    Nebraska CornhuskersKansas City RoyalsKansas City ChiefsBig 8 Conference

    You can also get the Venture that gives 1.25 miles/dollar with no yearly fee. It just depends on if you'll make up the $59 in the yearly fee. I don't because I rotate cards depending on what rewards I want so I have that card instead of the yearly fee version. I used to have Sapphire Preferred and it really depends on your spending habits. Just run some numbers and do the math because I wasn't using the 2% categories enough to make up for the difference in % back when compared to the yearly fee. And that thing is a bitch to destroy.

    Also Discover Miles has 1.5 miles for every dollar you spend and is unlimited. Not sure of their miles conversion or how any of that goes, though.
     
  5. Arkadin

    Arkadin inefficiently efficent and unclearly clear
    Donor

    I'd recommend going to read the benefits/insurances the sapphire provides you as well for free. They're pretty significant if you like to travel
     
  6. Sportfan

    Sportfan From Six to Dumptime
    San Antonio SpursHouston TexansNew Mexico State AggiesTexas AandM Aggies

    Discover says my FICO is 831

    HOLD MAI DICK
     
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  7. Frank Martin

    Frank Martin tough love makes better posters
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    South Carolina GamecocksBaltimore OriolesBaltimore RavensLiverpool

    Jealous. I can't seem to eclipse 800.
     
  8. JohnnyChimpo

    JohnnyChimpo This man, Lenny Pepperidge, AKA Lenny the Pep...
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    Nebraska CornhuskersCleveland BrownsCrystal PalaceCleveland CavaliersCleveland IndiansPGAGrateful DeadNebraska Cornhuskers alt

    SIAP but do you guys know any easy ways to get the spending limits for credit card bonuses. For example I'm looking at possibly getting the Delta airlines card that gives you 10k medallion qualifying miles if you spend $25k in one calendar year. I know this is a huge number but if you combine mortgage and all my outgoings in a year I'd easily get to that number. Just FYI I already have chase sapphire preferred and love it
     
  9. Det. Frank Bullitt

    Det. Frank Bullitt God Bless Texas
    Donor TMB OG
    Texas LonghornsManchester United

  10. TAS

    TAS 20_ _ TMB Poster of the Year
    Donor

    Google "manufactured spending". There's a bunch of stuff out there, you just have to find something (or likely multiple things) you're comfortable with
     
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  11. Jimmy the Saint

    Jimmy the Saint The future is a benevolent black hole
    Donor
    Penn State Nittany LionsGreen Bay PackersChelseaHartford WhalersPhoenix Rising

    AMEX Blue Cash Preferred gives 3% back.
     
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  12. EMAW FC

    EMAW FC Proud Smucker
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    Kansas State WildcatsKansas City RoyalsKansas City ChiefsFulhamSporting Kansas CitySneakers

    I already have both rapid rewards visa cards, how early should I cancel them before I reapply? (coming after that companion pass in early 2017)
     
  13. TAS

    TAS 20_ _ TMB Poster of the Year
    Donor

    My understanding is that when you cancel them is irrelevant.

    What is important is the date you received the last sign up bonus. You cannot receive the same bonus within 24 months.

    Also, know that chase has become a lot more strict about giving out credit card approvals to existing card holders. I believe the rule is no more than 5 approvals in a 24 month period. So be aware that you could get approved for the 1st, but not the 2nd.

    Edit: reading a little bit more, it appears the 5/24 rule might on apply to Chase branded cards (sapphire, ink, etc.) and not co-branded cards like Southwest
     
    #713 TAS, Jan 27, 2016
    Last edited: Jan 27, 2016
  14. Nug

    Nug MexicanNug
    Donor
    Alabama Crimson TideSeattle MarinersAtlanta BravesNew Orleans Saints

    Looked into it this afternoon. Think I'm gonna try it with a $1K visa gift card when my Saphire Preferred comes in. I need to spend $4K in 3 months, this may help me get it in 2 months

    Basically:
    -buy a $1K gift card (or whatever #, using this to simplify) with your CC (so you're now at $1K balance/$0 cash)
    -liquidate gift card to cash (apparently the visa gift cards give you a pin and are the same as a debit card) (now you have a $1K balance/$1K cash)
    -use cash to pay off CC balance ($0 balance/$0 cash)

    You'd only be out-of-pocket the fees, but for purposes of your card you've spent $1K
     
    #714 Nug, Jan 27, 2016
    Last edited: Jan 27, 2016
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  15. Nug

    Nug MexicanNug
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    Alabama Crimson TideSeattle MarinersAtlanta BravesNew Orleans Saints

    TAS
    Fact check me por favor
     
  16. -Asshole-

    -Asshole- TMB OG Reject
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    LSU TigersNew Orleans Saints

    How can you pay your mortgage with a credit card? I mean that would be great but i didn't think it was possible.
     
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  17. Beachy Toast

    Beachy Toast He wants you too, Malachi.
    Donor
    Chicago White SoxChicago BearsChicago BlackhawksKansas State WildcatsMontreal Impact

    hello yes i did this last year with a Hyatt, Marriot, Hilton, and CSP card. I bought gift cards from Grocery stores, and cashed them into an Amex Serve prepaid card to do billpay. Even though the GCs have pins now, you can't use them at ATMs.
     
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  18. Beachy Toast

    Beachy Toast He wants you too, Malachi.
    Donor
    Chicago White SoxChicago BearsChicago BlackhawksKansas State WildcatsMontreal Impact

    https://www.plastiq.com/
     
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  19. -Asshole-

    -Asshole- TMB OG Reject
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    LSU TigersNew Orleans Saints

    I've been looking for a way to get rewards points on my mortgage and fucking daycare too. Fuck. Daycare is more than my mortgage. That would be great to get rewards on.
     
    Toast likes this.
  20. Beachy Toast

    Beachy Toast He wants you too, Malachi.
    Donor
    Chicago White SoxChicago BearsChicago BlackhawksKansas State WildcatsMontreal Impact

    I put all my spending on various credit cards, then pay them off every 2 weeks.
     
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  21. -Asshole-

    -Asshole- TMB OG Reject
    Donor
    LSU TigersNew Orleans Saints

    Yeah but they charge 2.5%. I only get 1.5% rewards. That math doesnt check out unless i like losing money.

    Am i missing something?
     
    High Cotton likes this.
  22. Beachy Toast

    Beachy Toast He wants you too, Malachi.
    Donor
    Chicago White SoxChicago BearsChicago BlackhawksKansas State WildcatsMontreal Impact

    oh yeah then that wouldn't work. Chase had an AARP 5% anywhere card that would've worked on this.
     
  23. -Asshole-

    -Asshole- TMB OG Reject
    Donor
    LSU TigersNew Orleans Saints

    I feel like im still not understanding you.

    Do you use plastiq? To pay your mortgage? Or to pay other bills that otherwise do not accept credit cards? What credit card do you have that has rewards greater than 2.5% that allows this to to work?
     
  24. -Asshole-

    -Asshole- TMB OG Reject
    Donor
    LSU TigersNew Orleans Saints

    Im really tired right now but this doesnt sound right.

    In theory if i have a credit card with unlimited spending cap on rewards couldnt i just sit at the store buying like 10k dollar gift cards and then using them to payoff the card i used to buy them to earn 1.5% cash back. Then just repeat infinitly each day and quit my day job and live off reward points?
     
  25. Nug

    Nug MexicanNug
    Donor
    Alabama Crimson TideSeattle MarinersAtlanta BravesNew Orleans Saints

    It's very frowned upon by banks and credit card companies, and if they see a pattern they put a stop to it and/or cancel your card (from what I've read today though, so this is just hearsay).

    Did you experience any problems/issues?
     
  26. Beachy Toast

    Beachy Toast He wants you too, Malachi.
    Donor
    Chicago White SoxChicago BearsChicago BlackhawksKansas State WildcatsMontreal Impact

    I never used plastiq. I just knew that people were using that one for minimum spending requirements for rewards.
     
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  27. Beachy Toast

    Beachy Toast He wants you too, Malachi.
    Donor
    Chicago White SoxChicago BearsChicago BlackhawksKansas State WildcatsMontreal Impact

    Not really. I had to load my Serve card at a Walmart; sometimes the machine would be broken.

    Just don't meet the spend requirements in a weekend. Some dumbasses would get the new card, meet the minimum spend via GCs, and then bill pay it off and would be surprised when they'd get smacked by Chase/Amex.
     
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  28. Nug

    Nug MexicanNug
    Donor
    Alabama Crimson TideSeattle MarinersAtlanta BravesNew Orleans Saints

    So you could simply use plastiq and pay the premium of 2.5% for a few grand to get the spending limit for intro rewards? Sounds easier than this whole manufactured spending thing.
     
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  29. Beachy Toast

    Beachy Toast He wants you too, Malachi.
    Donor
    Chicago White SoxChicago BearsChicago BlackhawksKansas State WildcatsMontreal Impact

    yeah you'd have a better run using plastiq for that.
     
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  30. -Asshole-

    -Asshole- TMB OG Reject
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    LSU TigersNew Orleans Saints

    You assholes got me all excited for nothing.
     
  31. Nug

    Nug MexicanNug
    Donor
    Alabama Crimson TideSeattle MarinersAtlanta BravesNew Orleans Saints

    Hey -Asshole- I'm 100% using one of the above methods to hit my intro spending limit quicker. Then get free shit
     
    -Asshole- likes this.
  32. Beachy Toast

    Beachy Toast He wants you too, Malachi.
    Donor
    Chicago White SoxChicago BearsChicago BlackhawksKansas State WildcatsMontreal Impact

    :justsayin:
     
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  33. Volholic16

    Volholic16 Well-Known Member
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    Tennessee VolunteersAtlanta BravesNashville PredatorsGrateful Dead

    Booked my first flight through their site a couple weeks back and it was pretty easy. You can decide how many points you want to redeem and it takes it off the price. It was a Delta flight btw.
     
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  34. -Asshole-

    -Asshole- TMB OG Reject
    Donor
    LSU TigersNew Orleans Saints

    Thats cool. I dont have a problem hitting spending limits though. Im just trying to get points for shit i have to pay each month anyway.
     
  35. TAS

    TAS 20_ _ TMB Poster of the Year
    Donor

    How are you going to liquidate the gift card into cash? Pretty sure you can't just go to the atm machine and withdraw cash. I believe the PIN is just for making debit purchases (if the vendor doesn't accept credit or if you want to protect the gift card maybe)
     
  36. Raymond Babbitt

    Raymond Babbitt Gotta get my boxer shorts at K-Mart.

    We're counting cards.
     
  37. Volholic16

    Volholic16 Well-Known Member
    Donor
    Tennessee VolunteersAtlanta BravesNashville PredatorsGrateful Dead

    I have only had to call them once and it was solid. I had a question about not getting points on lodging at the beach since I did VRBO, but they ended up crediting them anyway. We go out to eat way too much, so it's been a great card for us. Plus I like the "wat" look on people's faces when they feel the weight of the card.
     
  38. -Asshole-

    -Asshole- TMB OG Reject
    Donor
    LSU TigersNew Orleans Saints

    Essentially im missing out on approximately $485 in cash back that i could get each year if i could pay mortgage and daycare on my cc. No big deal but if it was possible i would do it.
     
  39. Volholic16

    Volholic16 Well-Known Member
    Donor
    Tennessee VolunteersAtlanta BravesNashville PredatorsGrateful Dead

    I am thinking of getting the Chase Ink card for the 60k signup bonus and then moving the points to my Sapphire Preferred. I've had the Preferred since May.

    Thoughts?
     
    Toast likes this.
  40. TAS

    TAS 20_ _ TMB Poster of the Year
    Donor

    You mean the ink plus?I don't have it, but I've heard it's the tits.
     
  41. Arkadin

    Arkadin inefficiently efficent and unclearly clear
    Donor

    Go for it if you've got a business or an EIN someone will let you use
     
  42. Aaron Nevilles Pet Tick

    Donor
    Clemson TigersCharlotte HornetsCarolina PanthersWashington Capitals

    Got my chase sapphire approved the other day. Can't wait.
     
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  43. allothersnsused

    allothersnsused Wow that’s crazy
    Donor
    Virginia CavaliersAtlanta BravesAtlanta HawksWashington Football TeamChelsea

    Edit: Somebody else already posted what I wrote but hey, who has time to read threads.
     
  44. Hail Southern

    Hail Southern GATA Eagles!
    Donor
    Atlanta BravesAtlanta FalconsAtlanta UnitedGeorgia Southern EaglesUnited States Men's National Soccer Team

    How much unsecured debt do you have?

    I've always had high 700 scores but never 800+ which I blame on my hate for debt.
     
  45. LeVar Burton

    LeVar Burton Knee deep in a dynasty, ROLL TIDE!
    Kansas JayhawksAlabama Crimson Tide

    I've never had to do a balance transfer but I had someone ask me today, "If I do a credit card balance transfer from Chase to Discover at 3% and 0% APR for the first 15 months, then I won't incur any charges from Chase and the only interest I'll be paying is the 3% by Discover right?"

    I think he's correct in this. Are there any other ramifications of a balance transfer? Credit score hit?
     
  46. EMAW FC

    EMAW FC Proud Smucker
    Donor
    Kansas State WildcatsKansas City RoyalsKansas City ChiefsFulhamSporting Kansas CitySneakers

    I'm in the clear - had one for over 4 years, another for 3. churn and burn baby
     
    TAS likes this.
  47. TAS

    TAS 20_ _ TMB Poster of the Year
    Donor

    In that case, what til your anniversary bonuses post, then cancel. I think you have 90 days to get a refund for your annual fee.
     
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  48. EMAW FC

    EMAW FC Proud Smucker
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    Kansas State WildcatsKansas City RoyalsKansas City ChiefsFulhamSporting Kansas CitySneakers

    :respek: damn didn't know i could get a refund on the af
     
  49. TAS

    TAS 20_ _ TMB Poster of the Year
    Donor

    Shoot them a secure message saying you're thinking about canceling the card and ask how long you have to cancel and still get the AF refunded. Google says 60 days, but it's always best to have something in writing.