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. Uncle Tupelo

    Uncle Tupelo Well-Known Member
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    This is my thought as well.
     
  2. colonel_forbin

    colonel_forbin Well-Known Member
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    And Chase would generate 3% in revenue on people having to spend to use those points as a statement credit. So it'd be a smaller loss than people not spending money, sitting on their points, and then using it
     
  3. ohhaithur

    ohhaithur e-Batman
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    I figured they'd be happy to let that ride out. It just lets them sit on cash longer
    Makes more sense
     
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  4. i am a bammer

    i am a bammer Ben Eblen>Jamychal Green
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    Is there some reg where they can raise the rate if they lose X amount of money in a year?
     
  5. ohhaithur

    ohhaithur e-Batman
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    I believe he's talking about the company's capital gains rate, not the interest rate to customers
     
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  6. i am a bammer

    i am a bammer Ben Eblen>Jamychal Green
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    #justpoorquestions
     
  7. AHebrewToo

    AHebrewToo Albino Hebrew Extraordinaire
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    Actually top marginal rate on operating income, which dropped beginning in 2018 for corporations. As part of the CARES Act, Congress allowed companies to carry back their net operating losses to 2017. So if you have losses in 2020, you can use them to offset income from 2017 and claim a refund at pre-reform tax rates. Basically increases the value of deductions in 2020 by 67%. So the 1.5 pts makes sense. Simple arbitrage with the federal government subsidizing the cost.
     
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  8. ohhaithur

    ohhaithur e-Batman
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    Just the kind of stimulus this country needed!
     
  9. Jimmy the Saint

    Jimmy the Saint 13 beers and a bad taste in my mouth
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    Except it's not just 2017 but the previous 5 years. So a calendar year filer can go back to 2013 if they generated NOL in 2018.
     
    AHebrewToo likes this.
  10. i am a bammer

    i am a bammer Ben Eblen>Jamychal Green
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    Folks, we love to see it
     
  11. LSU90

    LSU90 Well-Known Member

    Of course I got the damn airpods lol. They came in today and the wife is happy so fuck it.

    I know that at a minimum I am going to use my reserve for every grocery, restaurant, and home improvement store I step in. I will also start taking a look at if I need to stock up on any items, buy gift cards to my favorite restaurants, or look at doing some remodels. If I go all out I will buy a large amazon gift card as you mentioned
     
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  12. Zebbie

    Zebbie Hey Mike, guess what I have in my underwear?
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    same here - gonna log on Sunday night or Monday & see how much I can get back from purchases within the last 90 days too
     
  13. hawkeyeOUTeast

    hawkeyeOUTeast Love it or leave it!
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    Since covid hit never planned our honeymoon we were going to take this summer. Have about 700k chase points. Assuming I could get this “cashed out” - are there any other benefits from Chase travel that I’d be missing out on trying to pay cash for an international trip instead of booking through UR portal? Trying to mitigate risk with the points here but also don’t want to lose out on added benefits of UR travel booking.
     
  14. ohhaithur

    ohhaithur e-Batman
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    Booking with UR has no benefits that booking with money on your CSR doesn't have

    The only benefit you lose is the ability to send those points to Hyatt or United and potentially get more than 1.5
     
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  15. Det. Frank Bullitt

    Det. Frank Bullitt God Bless Texas
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    152k Chase UR points here:

    With covid putting off travel, devals galore, and 1.5cpp on valid statement credits (i think i got that right). I might flirt with getting a $1900 Home Depot gift card. I have the point value at approx $2900 but that is dropping/will drop.

    My main UR transfer partners are United (recent deval, I just moved away from hub city) and Hyatt (plenty of points in there already). I have ~3 months to decide. I also have almost same value in Amex MR to cover any travel that needs to happen in the next 18 months or so.
     
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  16. pianoman

    pianoman my drinks are free
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    Are we expecting there to be a lot of devaluation of points the next couple years? Wife and I have about 300,000 UR points that I was planning to save for next year for 3 weeks in Europe but would consider cashing out if that’s expected.
     
  17. marcus

    marcus Sex with old ladies for money aaaand bear traps.
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    Broke a million Hilton rupees. Finally just booked a stay with almost all of them to get it on the books.
     
  18. Where Eagles Dare

    Where Eagles Dare The Specialist Show On Earth
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    I would say that if you book with UR, you get "discount" hotel deals at the locations your flight is going to.

    Now, I don't know how legit these deals are nor have I cross checked every time with other sites (I have once or twice and it was a discount), but I have booked through them after booking flights
     
  19. ohhaithur

    ohhaithur e-Batman
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    That's just expedia so you could just do the same thing through them
     
  20. Nelson

    Nelson Can somebody please get Ja Rule on the phone
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    Man I’m torn with this 1.5x UR thing

    making me feel alive tbh
     
    TAS likes this.
  21. THEBLUERAIDER

    THEBLUERAIDER Well-Known Member
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    Where you heading and when?
     
  22. pratyk

    pratyk Arsenal FC, Rutgers Scarlet Knights
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    Still have 650k UR left between me and the missus. We're house hunting and may end up needing appliances so this may work out well. It'll certainly help soften the blow of clearing out most of our $$$.
     
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  23. The_Baumer

    The_Baumer Go Mordecai!

    I don’t need to cash points in for anything now so I’m team hold UR points. Sitting on 400k right now.

    I got 4 cents a point with my airfare to Thailand and a laughable 20 cents a point with my recent trip to Japan.
     
  24. marcus

    marcus Sex with old ladies for money aaaand bear traps.
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    Same spring break trip we cancelled this year (Waldorf Orlando), just booked a suite this time because of the amount of points.
     
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  25. Lipp the Gay Liberal

    Lipp the Gay Liberal Spartan Dawg
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    What airline did you use for Thailand? That’s our dilemma right now too. Cash out or try to use our 300k or so to go to Thailand sometime next year.
     
  26. Jimmy the Saint

    Jimmy the Saint 13 beers and a bad taste in my mouth
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    We booked through United (was supposed to be there right now) and were flying economy there and had a leg in Polaris on the way back (Seoul to SF). Think it was 40k each going and 75k returning, so 230k total.

    I used most of my UR for those flights so lucky me I now have 240+k United miles. Only have about 60k UR now after that so I think I'm just going to hold and hope United still has 30k one-ways to Europe once travel is possible again. Those are by far the best bang for the buck (points?) I've gotten transferring.
     
    Lipp the Gay Liberal likes this.
  27. The_Baumer

    The_Baumer Go Mordecai!

    Korean Air (no longer a partner for UR unfortunately)
     
  28. Nelson

    Nelson Can somebody please get Ja Rule on the phone
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    Was gonna do business class to New Zealand on a United saver award for 75k one way but it seems those are all gone plus NZ doesn’t want my rona-riddled body or NY ID anywhere near them for the foreseeable future
     
  29. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    seems like lots of airlines have hyper restricted award activity, can't get my virgin miles used at all since delta isn't making any available
     
  30. marcus

    marcus Sex with old ladies for money aaaand bear traps.
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    Had to get a picture before I used them. I will likely never see a total like this again, I usually use them well before I even get to half of this:

    1DD7B3A2-6D71-4C1F-AE9A-E3762E5BC7E2.jpeg
     
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  31. Jimmy the Saint

    Jimmy the Saint 13 beers and a bad taste in my mouth
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    It must be extremely satisfying just to have a million of points for anything.
     
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  32. Vinegar Strokes

    Vinegar Strokes Fire Dantonio
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    Travel about 80-100 nights a year?
     
  33. MA

    MA Surprisingly normal looking
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    What are people doing for this these days?
     
  34. ohhaithur

    ohhaithur e-Batman
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    depends on the airline
     
  35. 49ers169

    49ers169 Administrator
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    My reserve is up in August, been a member since they first came out. Wife and I are looking to have our first kid next year so travel will probably be a little prohibitive.

    Thinking of downgrading and re-applying for the Sapphire Preferred. Or should downgrade and keep with the Reserve?

    Haven't been following what COVID's future impact are on points.
     
  36. ohhaithur

    ohhaithur e-Batman
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    If I were you I'd downgrade and get the CSP since it has a higher bonus and you won't be traveling. I think the CSR has more value but maybe you upgrade again in two years

    I will say this opinion changes if you would like to liquidate any of your UR now...really good deal with the Reserve
     
    49ers169 likes this.
  37. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    my amex plat just came up, probabbbbbly downgrading, we'll see if i can get a retention offer of any kind
     
  38. 49ers169

    49ers169 Administrator
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    Yeah my wife and I have a bunch of home projects so debating liquidating the UR for Lowes/Home Depot given the really good statement credits. If we do that, re-up with the reserve?
     
  39. ohhaithur

    ohhaithur e-Batman
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    Or liquidate then do preferred.

    Just make sure you have it for liquidation time and follow the procedures (they might not let you cancel if you have credits pending)
     
    49ers169 likes this.
  40. Sportfan

    Sportfan From Six to Dumptime

    Should I be seeing the CSR 1.5x conversion statement credit option somewhere? I see the 5x on groceries.
     
  41. ohhaithur

    ohhaithur e-Batman
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    Go into UR, toolbar, pay yourself back
     
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  42. Zebbie

    Zebbie Hey Mike, guess what I have in my underwear?
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    it’s on the side menu once you get into Ultimate Rewards
     
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  43. Sportfan

    Sportfan From Six to Dumptime

    Thanks gents, found it! Now do I blow 150,000 points on $2,250 in cash back hmmm.
     
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  44. ohhaithur

    ohhaithur e-Batman
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    What else would you blow 150,000 points on?
     
  45. Sportfan

    Sportfan From Six to Dumptime

    At some point the plan was to use it on travel but I guess it converts the same so you’re leading me to doing it.
     
  46. ohhaithur

    ohhaithur e-Batman
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    If you were going to use the portal, 100% do it

    If you had some big lofty first-class plans to fly United, that will be worth holding off on likely. If you were going to stay at some Hyatts somewhere, maybe it's worth it to hold

    But really to me it was a no-brainer. Take the money and run
     
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  47. Lipp the Gay Liberal

    Lipp the Gay Liberal Spartan Dawg
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    Just cashed out $2k. Can always get more points. Give me those greenbacks.
     
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  48. Sportfan

    Sportfan From Six to Dumptime

    yea took the $950 was all I had eligible. Damn shame I didn’t look a couple days ago I think I just missed the 90 day window on a few bigger ones.
     
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  49. ohhaithur

    ohhaithur e-Batman
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    You still have 3 months. I have confidence in you
     
    Sportfan likes this.
  50. i am a bammer

    i am a bammer Ben Eblen>Jamychal Green
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    Alabama Crimson Tide

    Did the same with my roughly 160k points. Feels good.
     
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