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. Spontaneous Cumbustion

    Spontaneous Cumbustion Well-Known Member
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    Ohio State BuckeyesCincinnati RedsCincinnati BengalsXavier MusketeersFC CincinnatiTottenham HotspurUnited States Men's National Soccer Team

    Can someone please explain this to me like I'm 5? I only have 27k points after going on a big trip last year. Should I be cashing out or just keep stockpiling points? Buying a house right now so I'll have probably $3 - $5k in expenses coming up for furniture, painting, ect.

    There's also this pay yourself back on the side which I think is confusing me. Cash back seems much more straight forward.
     
  2. Lipp the Gay Liberal

    Lipp the Gay Liberal Spartan Dawg
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    Michigan State SpartansDetroit LionsDetroit Red WingsGeorge Washington ColonialsDetroit Tigers

    Cash back is only at 1 cent per point. Pay yourself back is temporarily at 1.5 cents per point. That’s what we are doing. Bird in hand and such.
     
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  3. Zebbie

    Zebbie Hey Mike, guess what I have in my underwear?
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    Texas Tech Red RaidersTexas RangersChicago CubsLos Angeles ChargersTexas Tech Red Raiders alt

    I cashed out about $1,600 on Monday from the pay yourself back promo
     
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  4. devine

    devine hi, I am user devine
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    West Virginia MountaineersPhoenix SunsPittsburgh PenguinsTiger WoodsNational LeagueBarAndGrillCoors Light

    So I have excellent credit score and have paid a lot of money off of my discover card this year and have gotten like no rewards or cash back. Am I supposed to sign up for something or what or should I get a different credit card
     
  5. ohhaithur

    ohhaithur e-Batman
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    Definitely get a new card(s) if you're financially intelligent enough to handle it
     
    devine likes this.
  6. devine

    devine hi, I am user devine
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    West Virginia MountaineersPhoenix SunsPittsburgh PenguinsTiger WoodsNational LeagueBarAndGrillCoors Light

    I’m a financial guru

    Do you have any recs?
     
    Nelson likes this.
  7. ohhaithur

    ohhaithur e-Batman
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    Financial guru has one credit card without rewards....hmm...

    It depends, the OP has a whole process that most of us do itt that involves opening numerous credit cards to take advantage of signup bonuses. There's also ways to optimize having 3 or 4 cards only (most people who just pop itt do this). And obviously we can help you if you want just 1.

    It's best if you think about what you're interested in doing, how many cards you want to open, where you spend your money, and then letting us know. We can advise from there
     
  8. devine

    devine hi, I am user devine
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    West Virginia MountaineersPhoenix SunsPittsburgh PenguinsTiger WoodsNational LeagueBarAndGrillCoors Light

    Thanks. The financial guru part was just a joke
     
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  9. C A N E

    C A N E Well-Known Member
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    Miami Hurricanes

    Is your desire to maximize cash back or free/discounted travel?
     
  10. comrade static

    comrade static i love french fries
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    Oklahoma City ThunderOklahoma Sooners

    So I have 515k UR. Was planning on saving them for a trip to Hawaii or something next year with the wife. Should I just cash them out for the $7500?
     
    Nelson likes this.
  11. devine

    devine hi, I am user devine
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    West Virginia MountaineersPhoenix SunsPittsburgh PenguinsTiger WoodsNational LeagueBarAndGrillCoors Light

    I would prefer benefits like free and discounted travel I think

    I can already say I only want 1 card. I don’t have the energy or memory to keep up with numerous
     
  12. ohhaithur

    ohhaithur e-Batman
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    You probably don't have enough transactions to pay yourself back for all but if you can, why not.

    Again unless you were transferring to a partner for a big bonus
     
  13. ohhaithur

    ohhaithur e-Batman
    Donor

    Chase Sapphire Preferred. Nice $750 bonus to start.

    And if you use it enough after a while, upgrade to the Chase Sapphire Reserve
     
    devine likes this.
  14. devine

    devine hi, I am user devine
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    West Virginia MountaineersPhoenix SunsPittsburgh PenguinsTiger WoodsNational LeagueBarAndGrillCoors Light

    Thank you sir

    What do you recommend I do with my discover card? Leave it open and make a small payment each month or something?
     
    ohhaithur likes this.
  15. Lipp the Gay Liberal

    Lipp the Gay Liberal Spartan Dawg
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    Michigan State SpartansDetroit LionsDetroit Red WingsGeorge Washington ColonialsDetroit Tigers

    just leave it open and put it in a drawer if there’s no annual fee
     
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  16. ohhaithur

    ohhaithur e-Batman
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    Your credit score improves if you hold it so if there's no fee, no need to close it. Just make a small purchase once a year to keep it active
     
  17. NoNatty

    NoNatty Keyboard Cowboy
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    Oregon DucksPortland Trail BlazersSan Francisco 49'ersManchester UnitedPortland Timbers

    I never keep a balance on my cards. I used pay yourself back to pay what balance I had. What happens if I use another 50k points? Will they mail me a check eventually?
     
  18. Lipp the Gay Liberal

    Lipp the Gay Liberal Spartan Dawg
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    Michigan State SpartansDetroit LionsDetroit Red WingsGeorge Washington ColonialsDetroit Tigers

    You can request a check. Otherwise you’ll just have a credit on your account for future purchases. It allowed me to go back 90 days so it was easy for me to have enough purchases to cover my 135k points.
     
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  19. ohhaithur

    ohhaithur e-Batman
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    It'll just save you money next month
     
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  20. comrade static

    comrade static i love french fries
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    Oklahoma City ThunderOklahoma Sooners

    Wasn’t planning on it, or at least not for the next 6 months at least. Probably longer
     
  21. ohhaithur

    ohhaithur e-Batman
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    Then cash out. You might miss out on some ridiculous first class flight but it's a huge hassle and risk
     
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  22. Nelson

    Nelson Can somebody please get Ja Rule on the phone
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    Nebraska CornhuskersDenver NuggetsDenver BroncosColorado AvalanceBorussia DortmundManchester UnitedColorado State Rams

    how much do you travel (pre-Rona)?

    odds are you aren’t going to blow through that in short order unless you go first class and there’s always the chance points get devalued over time. I’d cash out at least a portion
     
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  23. Rusty Shackleford

    Rusty Shackleford Dale 1 - Rats 0
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    Auburn TigersSan Antonio Spurs

    Was it Chase that sent people the 1099s last year?
     
  24. Det. Frank Bullitt

    Det. Frank Bullitt God Bless Texas
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    Texas LonghornsManchester United

    Isn't it 1.25x on points as statement credit?
     
  25. Zebbie

    Zebbie Hey Mike, guess what I have in my underwear?
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    Texas Tech Red RaidersTexas RangersChicago CubsLos Angeles ChargersTexas Tech Red Raiders alt

    for CSP - it’s 1.5 for CSR
     
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  26. pratyk

    pratyk Arsenal FC, Rutgers Scarlet Knights
    Rutgers Scarlet KnightsArsenal

    Just used up 150k UR for statement credit on purchases from the past 3 months. Whoosh.
     
  27. C Yank

    C Yank Ducks by 90
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    Oregon DucksSeattle MarinersSeattle SeahawksSeattle Supersonics

    Just used all my UR’s to get a trip to Mexico next month. Let’s see if I get stuck in Puerto Vallarta for an extended period of time.
     
  28. rv12

    rv12 Cowabunga
    Donor TMB OG
    Tennessee VolunteersAtlanta BravesGreen Bay PackersColorado State RamsSneakers

    I'm about to go on a spending spree the next few months and am looking for maximum value. I currently have the CSR and the Amazon Chase cards. Credit score is 801 right now. Any suggestions on best value for travel points would be great. I'll obviously use referral codes if you have them.
     
  29. Jimmy the Saint

    Jimmy the Saint 13 beers and a bad taste in my mouth
    Donor
    Penn State Nittany LionsGreen Bay PackersChelseaHartford WhalersPhoenix Rising

    What airports are you flying from? Any particular destinations? Preferred hotel chains?

    If you're interested in a SW card, I like my Priority. I will probably keep it even past my 1 year as it comes out +$38 for me after the fee. I got in on a 75k offer. But if you are ok with the current 40k offering:

    Earn 40,000 points with any Southwest® personal Credit Card.
    https://www.referyourchasecard.com/226p/OKKFBK2WY0
     
    rv12 likes this.
  30. Lipp the Gay Liberal

    Lipp the Gay Liberal Spartan Dawg
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    40k is a shitty offer. Don’t do that.
     
    rv12 likes this.
  31. rv12

    rv12 Cowabunga
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    Tennessee VolunteersAtlanta BravesGreen Bay PackersColorado State RamsSneakers

    I'll be flying from RDU or CLT in the future. I am hoping to finally take a trip to Thailand that I have planned since 2017 and have had to cancel 2 separate flights because of different reasons. They're both long stories but given everything that has happened recently, I want to finally take that trip for myself.
     
  32. Lipp the Gay Liberal

    Lipp the Gay Liberal Spartan Dawg
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    Michigan State SpartansDetroit LionsDetroit Red WingsGeorge Washington ColonialsDetroit Tigers

    Get the sapphire preferred or reserve depending on your spending.

    If you want hotels, go for the Hyatt card. Airline cards are just okay.
     
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  33. rv12

    rv12 Cowabunga
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    so CSP is the smart choice right now?
     
  34. tjosu

    tjosu This is kind of like the breakfast club, huh?
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    Oklahoma State CowboysHouston AstrosHouston TexansTiger Woods

    I think it depends on when you got your Reserve, you might be ineligible for getting another Sapphire bonus, and I think there’s also a clause about only having one card from the Sapphire line at a time (that’s why the loophole of applying for both at the same time worked before)
     
    rv12 likes this.
  35. ohhaithur

    ohhaithur e-Batman
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    You cannot have the CSR and CSP both anymore. The double dip is dead
     
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  36. CoastalOrange

    CoastalOrange Well-Known Member
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    Clemson TigersTennessee VolunteersBarcelonaUnited States Men's National Soccer TeamLiverpool

    The double dip is dead. Long live the double dip.
     
  37. rv12

    rv12 Cowabunga
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    i got the CSR 3 years ago, does that still disqualify me?
     
  38. NoNatty

    NoNatty Keyboard Cowboy
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    for another year, yes.
     
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  39. ohhaithur

    ohhaithur e-Batman
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    Yup until 48 months
     
    rv12 likes this.
  40. CoastalOrange

    CoastalOrange Well-Known Member
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    Clemson TigersTennessee VolunteersBarcelonaUnited States Men's National Soccer TeamLiverpool

    So the GF is looking for a new CC and I figured this was the right place to start in asking for guidance on what she should go with. She currently only has the Delta Gold card. I have the Marriott Bonvoy (AmEx), CSR, Chase Freedom, Chase Hyatt, and Citi AA Biz (along with some others that aren't that important at the moment). I say that to mean that I have status with Marriott with a fair amount of points as well as status with AA and had a decent amount of points with Chase before a recent booking.

    For those that have significant others, did you go the route of having different cards to diversify your options or did you go the same path in order to maximize your points (like with Chase)? She seems to use Orbitz a fair amount and was thinking about the Orbitz CC with the 5% cash back option. Any suggestions?
     
  41. ohhaithur

    ohhaithur e-Batman
    Donor

    You're already extremely diversified, there's no reason to diversify more. It'll just be more annoying than anything.

    Trust me, I do it with my certificates all the time.
     
    CoastalOrange likes this.
  42. CoastalOrange

    CoastalOrange Well-Known Member
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    Clemson TigersTennessee VolunteersBarcelonaUnited States Men's National Soccer TeamLiverpool

    So should I have her go with the Chase Biz card then CSR? Or a different path?

    EDIT: Probably the Hyatt too.
     
  43. ohhaithur

    ohhaithur e-Batman
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    Do the same path as you
     
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  44. beist

    beist Hyperbolist
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    Do the chase freedom categories ever leak before hand? I searched reddit but didn't see anything. I've got a grill sitting in my cart on Home Depot but it dawned on me that home improvement would seem to be a likely candidate for this next quarter.
     
  45. DuffandMuff

    DuffandMuff Well-Known Member
    Tampa Bay Lightning

    Idk but I feel like it should come soon. Discover sent me an email yesterday announcing their 5% cash back categories for the upcoming quarter.

    Since gas stations were included in the current Discover cash back quarter, they added Home Depot for the month of June.
     
    beist likes this.
  46. Jimmy the Saint

    Jimmy the Saint 13 beers and a bad taste in my mouth
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    Penn State Nittany LionsGreen Bay PackersChelseaHartford WhalersPhoenix Rising

    I have a feeling the rest of the year will be trash quarters (from my personal perspective) since they've already gone through cable/ISP, gas, and groceries.

    They do restaurants in the summer sometimes but doesn't do a whole lot of good right now.
     
  47. TAS

    TAS 20_ _ TMB Poster of the Year
    Donor

    I'm guessing they will be announced Monday since that is the first day you can activate the Q3 5% cash back
     
  48. PAHokie

    PAHokie Can't a bitch living say I bought her Michael Kors
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    Virginia Tech HokiesPittsburgh PenguinsAtlanta Braves

    How long is the Chase pay yourself deal available? I think that will be my best value for redemption.
     
  49. ohhaithur

    ohhaithur e-Batman
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    Through September. But the purchases you can use it on are rolling (within the last 90 days)
     
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  50. g8r

    g8r Well-Known Member
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    Florida GatorsBoston Red Sox

    Can the chase pay yourself be used to cover gift cards bought at grocery/home improvement stores. Thinking I will cash in a few points to buy some tools.