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Do you hoard credit card points?

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On 8/29/2019 at 6:50 PM, culdeus said:

Cancel at 13mos unless a no fee option exists 

So pay the fee then cancel?  Why?

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32 minutes ago, Sand said:

So pay the fee then cancel?  Why?

You get the fee refunded.  Different issuers have different policies on this so brush up on those.  

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4 hours ago, culdeus said:

You get the fee refunded.  Different issuers have different policies on this so brush up on those.  

Ok, that makes sense.  Why not just cancel at month 11?  I'm missing something here.

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6 minutes ago, Sand said:

Ok, that makes sense.  Why not just cancel at month 11?  I'm missing something here.

No.  You always want to see the anniversary or the fee post.  There are tiny difference on when those happen across issuers but for example you try to cancel an amex card at 11 mos. They claw back the bonus and blackball you. 

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What I do for every card is set a Google calendar reminder of each anniversary.  I'll call in the first Monday after that and fish for a retention offer or movement to a no-af.  Short of that kill it and move on.   Most cards now though allow you to do this by chat which is nice.  

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16 hours ago, culdeus said:

No.  You always want to see the anniversary or the fee post.  There are tiny difference on when those happen across issuers but for example you try to cancel an amex card at 11 mos. They claw back the bonus and blackball you. 

Had no idea.  I have my Citi prestige that has it's 1 year coming up.  Not sure whether I will cancel or downgrade yet.  Based on this, though, I'll definitely wait until the fee posts.

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Just now, Sand said:

Had no idea.  I have my Citi prestige that has it's 1 year coming up.  Not sure whether I will cancel or downgrade yet.  Based on this, though, I'll definitely wait until the fee posts.

Citibank normally has decent retention offers that are worth letting the AF post and then fishing for, if you can't get a good retention offer try to product change this to the AT&T Access More Card.

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8 minutes ago, culdeus said:

Citibank normally has decent retention offers that are worth letting the AF post and then fishing for, if you can't get a good retention offer try to product change this to the AT&T Access More Card.

Cool.  (Looked through the cards - I have the premier, not the Prestige).  Either way I'm going to change it up.  Probably get the wife to grab a Premier one for Christmas spending. 

Edited by Sand

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4 hours ago, Sand said:

Cool.  (Looked through the cards - I have the premier, not the Prestige).  Either way I'm going to change it up.  Probably get the wife to grab a Premier one for Christmas spending. 

These cards took a nerf and are expecting a relaunch later this year with improvement.  But when is tbd.  

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I'm sure this has been covered a million times but for an overall travel card, the Chase Sapphire Preferred Card is the best choice for a "first timer", right?

I'm aware of the 5/24 rule.

The World of Hyatt card looks interesting too.

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1 hour ago, eoMMan said:

I'm sure this has been covered a million times but for an overall travel card, the Chase Sapphire Preferred Card is the best choice for a "first timer", right?

I'm aware of the 5/24 rule.

The World of Hyatt card looks interesting too.

No, do some more reading of the flowchart.  It's use case was entirely driven around the fact that the first year AF used to be waived, now that it isn't the only reason to get the CSP is as part of the "MDD" or Multiple Daily Dip where you get the CSR on day 1 and CSP on day 2. 

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Do the more impressive point offers (100K) ever become known ahead of when they become available, or do you just kinda need to keep an eye out and jump on them once offered?

I know I'm going to have a very expensive November coming up and should be able to knock out 2 or 3 "spend $5k over 3 months" requirements that month alone so I'm trying to plan out the best method of attack. 

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27 minutes ago, RUSF18 said:

Do the more impressive point offers (100K) ever become known ahead of when they become available, or do you just kinda need to keep an eye out and jump on them once offered?

I know I'm going to have a very expensive November coming up and should be able to knock out 2 or 3 "spend $5k over 3 months" requirements that month alone so I'm trying to plan out the best method of attack. 

Amex biz plat has 100kMR for 10k spend and bonuses for individual charges of more than 5k.  The problem is you want to do that card in December to max out the little perks it has.  

Why not do the chase MDD which is 8k spend and then throw the amex biz plat on top of it in December?  Can you hold off that long?  

If not, then just toss a quick biz card in ft amex that isn't plat.  

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Appreciate the insight. Can't hold off that long...I'll be spending the money by middle of November at the latest.

A few years back I took advantage of a 100K Amex offer with only 5K spend for the platinum card. That was pretty sweet.

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Does anyone have an IHG card with Chase?  I signed up with an offer for a $150 statement credit, but it didn't show up on my second statement.

 

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Have a hookup for a resort in Mexico in March, just need the plane tickets for three adults. What's the best card to get for some quick miles to cover some /all of the tickets? And is this worth not following the chart? Already set with mortgage, etc, so I can wait to start churning if taking a miles card first sets me back a bit. 

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6 hours ago, joker said:

Have a hookup for a resort in Mexico in March, just need the plane tickets for three adults. What's the best card to get for some quick miles to cover some /all of the tickets? And is this worth not following the chart? Already set with mortgage, etc, so I can wait to start churning if taking a miles card first sets me back a bit. 

Use awardhacker.com to see what redemptions make sense and go from there.  Its already late to get a good redemption for March and getting thru the sub phase makes this even worse.  

That being said Barclays aa biz makes a lot of sense.  

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barclay aviator 50k + 10k on second card or aviator red, 60k ?  the red seems to have one less hoop to jump through for the 60k points.  with the straight aviator you need to have an employee spend on their card to get the last 10k.  the straight aviator has better perks long term, but i'm just hunting the bonus.

 

thoughts?  

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27 minutes ago, DA RAIDERS said:

barclay aviator 50k + 10k on second card or aviator red, 60k ?  the red seems to have one less hoop to jump through for the 60k points.  with the straight aviator you need to have an employee spend on their card to get the last 10k.  the straight aviator has better perks long term, but i'm just hunting the bonus.

 

thoughts?  

Why not both?  What is your 5/24?

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3 hours ago, culdeus said:

Why not both?  What is your 5/24?

2/24. Just starting. I have CSP and an REI card that might actually fall outside of 24. Which would make me 1/24. 

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13 hours ago, DA RAIDERS said:

2/24. Just starting. I have CSP and an REI card that might actually fall outside of 24. Which would make me 1/24. 

Aviator biz then, does not burn a 5/24 slot.  Would do that and then start hammering chase biz cards like nails.

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On 9/23/2019 at 3:52 PM, tjnc09 said:

Does anyone have an IHG card with Chase?  I signed up with an offer for a $150 statement credit, but it didn't show up on my second statement.

 

Is that one of the new ones?  I think they just mothballed some and introduced new ones.  I have an older one ($49 yearly fee for 1 free night a year - easily worth it!), but I don't remember a statement credit with that one.

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2 hours ago, culdeus said:

Aviator biz then, does not burn a 5/24 slot.  Would do that and then start hammering chase biz cards like nails.

can i use my SS# or do i need to get a TIN?  i've been reading the reddit threads and am getting mixed messages

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21 minutes ago, DA RAIDERS said:

can i use my SS# or do i need to get a TIN?  i've been reading the reddit threads and am getting mixed messages

I mean you will see different things out there.  My suggestion is to get an EIN as it's free and takes less than 30 seconds.  

This seems to help get you through verification if there is a need, as this EIN document can stand in for official biz licenses and things easily.

Always Rule #1 is First name last name for name and first name last name for doing biz as.  Don't get cute and put DA RAIDERS VACATION FUNTIMES as they will want to see a tax return for that.

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5 minutes ago, culdeus said:

I mean you will see different things out there.  My suggestion is to get an EIN as it's free and takes less than 30 seconds.  

This seems to help get you through verification if there is a need, as this EIN document can stand in for official biz licenses and things easily.

Always Rule #1 is First name last name for name and first name last name for doing biz as.  Don't get cute and put DA RAIDERS VACATION FUNTIMES as they will want to see a tax return for that.

Just got approved for an Ink Preferred using my SS# (Sole Proprietor).  

I heard you can apply once using your SSN and then get an EIN and apply again for another card (and use your own referral link for the second card).

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7 hours ago, culdeus said:

Aviator biz then, does not burn a 5/24 slot.  Would do that and then start hammering chase biz cards like nails.

Is there an amount of time to wait between biz cards?

I've churned personal cards for years now (not on your level), but haven't really put any effort into biz.

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2 hours ago, Al Czervik said:

Just got approved for an Ink Preferred using my SS# (Sole Proprietor).  

I heard you can apply once using your SSN and then get an EIN and apply again for another card (and use your own referral link for the second card).

as of now there's not really an upper limit to how many you can get.  You will be velocity limited as they tend to only give out cards every 3 months or so.  

Some have pulled off 4 CIP at this point.  I've managed to get 5 across two people.

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2 hours ago, matuski said:

Is there an amount of time to wait between biz cards?

I've churned personal cards for years now (not on your level), but haven't really put any effort into biz.

At chase?  You want to keep applications to every 3 months.  But you can spread out other applications between that at other issuers.  

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Does it always take some time to get approved for the Chase Ink Preferred? My credit score is 820+ and I usually get instant approval, although it's been some time since I tried for a new card. Just trying to figure out if I messed something up with my "business" info.

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On 8/31/2019 at 7:46 PM, culdeus said:

No.  You always want to see the anniversary or the fee post.  There are tiny difference on when those happen across issuers but for example you try to cancel an amex card at 11 mos. They claw back the bonus and blackball you. 

I didn't get my bonus pulled back.

Could be black balled I guess but I've received 2 cars since I cancelled the one. 

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BTW, can you usually cancel / close the card online or do you have to call and deal with the rep?

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3 minutes ago, RUSF18 said:

Does it always take some time to get approved for the Chase Ink Preferred? My credit score is 820+ and I usually get instant approval, although it's been some time since I tried for a new card. Just trying to figure out if I messed something up with my "business" info.

When my wife got hers, it appeared to be pending for the first day, but then it arrived in the mail a few days later without any kind of Approval notification email. 

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Just now, Brony said:

When my wife got hers, it appeared to be pending for the first day, but then it arrived in the mail a few days later without any kind of Approval notification email. 

Thanks. Got a message like "we need to review your application in more detail" or something after I submitted it.

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58 minutes ago, -OZ- said:

BTW, can you usually cancel / close the card online or do you have to call and deal with the rep?

Varies. 

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57 minutes ago, Brony said:

When my wife got hers, it appeared to be pending for the first day, but then it arrived in the mail a few days later without any kind of Approval notification email. 

This is normal.  They don't have nearly the staff reviewing biz apps. 

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2 hours ago, RUSF18 said:

Does it always take some time to get approved for the Chase Ink Preferred? My credit score is 820+ and I usually get instant approval, although it's been some time since I tried for a new card. Just trying to figure out if I messed something up with my "business" info.

Mine said they needed more time to review the app.  Never heard back from them and the card arrived in the mail in about 7 - 10 days.

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On 10/3/2019 at 5:53 PM, RUSF18 said:

Thanks. Got a message like "we need to review your application in more detail" or something after I submitted it.

Got a letter in the mail saying they needed more info, including proof of business name, proof of business address like a utility bill, and proof of my EIN to send them.

That normal?

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14 hours ago, RUSF18 said:

Got a letter in the mail saying they needed more info, including proof of business name, proof of business address like a utility bill, and proof of my EIN to send them.

That normal?

Yes.  Just send a PDF in of your ein letter. 

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I have been using a couple of cash back no fee cards from Chase (Freedom Blue Visa) and BofA (Cash Back Rewards MC) the last 6-7 years. By year end I typically have $1200-$1500 in cash back the I use for holiday shopping every year. 

Gas, Groceries, wholesale clubs, eating out, travel and my surpass tolls are the bulk of the charges. I average 3% cash back on gas and groceries. Of course I pay my bill in full every month. Some quarters I will have 5% back on groceries and gas with the Chase card. Always 3% on gas and 2% on groceries with BofA. 

Works out nicely every year. 

Edited by Todem

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6 hours ago, Todem said:

I have been using a couple of cash back no fee cards from Chase (Freedom Blue Visa) and BofA (Cash Back Rewards MC) the last 6-7 years. By year end I typically have $1200-$1500 in cash back the I use for holiday shopping every year. 

Gas, Groceries, wholesale clubs, eating out, travel and my surpass tolls are the bulk of the charges. I average 3% cash back on gas and groceries. Of course I pay my bill in full every month. Some quarters I will have 5% back on groceries and gas with the Chase card. Always 3% on gas and 2% on groceries with BofA. 

Works out nicely every year. 

Put in context, I'm on track to pull down an extra $28k across two people exploiting sign up bonuses across banks and cards with what I would call very conservative valuations.  I would consider $40k to be my goal for 2020  assuming Amex continues dumping MR points like water.

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I think I'm finally ditching my current credit card because WF doesn't have any of the modern security features that I see advertised elsewhere.  I've spend all morning trying to figure out some strange charges on my card that would have been nice if I had known about at the time.  What security features do you guys like with your cards and who has them?  Text for every charge, text alerts for duplicate charge issues?  Wells Fargo seems to do nothing for me.  After that I'll need to start searching for a card.  I've had this one for ever, and have bills and everything set through it, so I've never wanted to take the time to change, but i'm kina aggravated this morning.  (also, I have no CC bonuses... so it can only get better)

 

ETA: I did some more research and WF does have the alerts feature, I just didn't find it before, so I guess i'll start by turning that on.

Edited by The Tick

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2 minutes ago, The Tick said:

I think I'm finally ditching my current credit card because WF doesn't have any of the modern security features that I see advertised elsewhere.  I've spend all morning trying to figure out some strange charges on my card that would have been nice if I had known about at the time.  What security features do you guys like with your cards and who has them?  Text for every charge, text alerts for duplicate charge issues?  Wells Fargo seems to do nothing for me.  After that I'll need to start searching for a card.  I've had this one for ever, and have bills and everything set through it, so I've never wanted to take the time to change, but i'm kina aggravated this morning.  (also, I have no CC bonuses... so it can only get better)

follow the flowchart https://i.imgur.com/S0Q4Cyj.png.  With credit cards fraud is not a concern.  Just stay on top of stuff with an app like personal captial or mint.  

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On 10/14/2019 at 1:32 PM, culdeus said:

Put in context, I'm on track to pull down an extra $28k across two people exploiting sign up bonuses across banks and cards with what I would call very conservative valuations.  I would consider $40k to be my goal for 2020  assuming Amex continues dumping MR points like water.

How much do you use the cards annually? 

I might put $40k on cards over the course of the year.

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1 minute ago, -OZ- said:

How much do you use the cards annually? 

I might put $40k on cards over the course of the year.

Not a ton.  I do some MS to meet alot of spend requirements

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8 hours ago, culdeus said:

follow the flowchart https://i.imgur.com/S0Q4Cyj.png.  With credit cards fraud is not a concern.  Just stay on top of stuff with an app like personal captial or mint.  

Long-time reader; first-time poster.  I'm trying to convince Mr. krista to get us into this and will read the thread fully again, but right now I'm just wondering if you have a link to where this flowchart is located?  There are imbedded links I can't get to from just the photo, plus I'd like to be able to get to the updates.  Thanks.  This is the first of likely a bunch of dumb questions.

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1 minute ago, krista4 said:

Long-time reader; first-time poster.  I'm trying to convince Mr. krista to get us into this and will read the thread fully again, but right now I'm just wondering if you have a link to where this flowchart is located?  There are imbedded links I can't get to from just the photo, plus I'd like to be able to get to the updates.  Thanks.  This is the first of likely a bunch of dumb questions.

https://www.reddit.com/r/churning/comments/e00z51/faq_credit_card_recommendation_flowchart/

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1 hour ago, krista4 said:

Long-time reader; first-time poster.  I'm trying to convince Mr. krista to get us into this and will read the thread fully again, but right now I'm just wondering if you have a link to where this flowchart is located?  There are imbedded links I can't get to from just the photo, plus I'd like to be able to get to the updates.  Thanks.  This is the first of likely a bunch of dumb questions.

Honestly, for 99% of people just follow the flowchart and you will maximize.  Short of having a super specific redemption in mind it will always be optimal over just winging it.

The game in the last 2-3 years has tightened up alot.  It's still super lucrative and worth pursuing, but expect it to be a hobby and take effort.

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So I started the churning journey and went down the left side of the flowchart. I accidentally got the Chase SW Premier Biz on accident instead of the Performance Biz first, and have had it for about a month. I'm either close to or at the spend requirement but it doesn't show on my account yet, I'm assuming because the points are noted on the statement date each month?

Following the flow chart I should apply for the SW Performance Biz card next, right? And how long should I wait to apply for it? The Wiki suggests around 3-6 months between applying for separate Chase cards, I assume to help you avoid hitting the 5/24.

Another question - do I slow roll my spend if I'm not at it yet and wait until after the new year so the bonus is applied at the beginning of the year? I thought I read the companion pass is 125k in a calendar year, so wouldn't that mean if I get my bonus before 2019 ends it won't count towards my 125k for 2020?

So many questions...I'm reading the Reddit and Wiki but it's a lot of information to digest. Stay tuned for more silly questions on this crazy ride. My goal is to put forth the effort to allow me to approach Culdeus' success - though I doubt I'll get anywhere near his level of awesomeness, even 30-50% of his success would be worth the effort. 

 

 

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7 hours ago, joker said:

So I started the churning journey and went down the left side of the flowchart. I accidentally got the Chase SW Premier Biz on accident instead of the Performance Biz first, and have had it for about a month. I'm either close to or at the spend requirement but it doesn't show on my account yet, I'm assuming because the points are noted on the statement date each month?

Following the flow chart I should apply for the SW Performance Biz card next, right? And how long should I wait to apply for it? The Wiki suggests around 3-6 months between applying for separate Chase cards, I assume to help you avoid hitting the 5/24.

Another question - do I slow roll my spend if I'm not at it yet and wait until after the new year so the bonus is applied at the beginning of the year? I thought I read the companion pass is 125k in a calendar year, so wouldn't that mean if I get my bonus before 2019 ends it won't count towards my 125k for 2020?

So many questions...I'm reading the Reddit and Wiki but it's a lot of information to digest. Stay tuned for more silly questions on this crazy ride. My goal is to put forth the effort to allow me to approach Culdeus' success - though I doubt I'll get anywhere near his level of awesomeness, even 30-50% of his success would be worth the effort. 

 

 

https://www.doctorofcredit.com/everything-you-ever-wanted-to-know-about-the-southwest-companion-pass/

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