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Do you hoard credit card points?


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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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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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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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  • 2 weeks later...
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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  • 1 month later...

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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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 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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I'm trying to find up to date rules on Sapphire Reserve sign-up bonus eligibility. My wife cancelled her preferred ~1yr ago after we got married. She is an authorized user on my preferred. She had last got the preferred signup 4 or 5 years ago, so well before 24 months.

 

The best source I can find is from 2017, which says: "If you had the Sapphire Preferred in the past, got the welcome bonus more than 24 months ago, and closed it, you’re eligible for the same card again."

 

I'm hoping someone with more knowledge of this game like @culdeus may be able to help me understand if she could do the reserve now and get the bonus. 

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6 minutes ago, Instinctive said:

I'm trying to find up to date rules on Sapphire Reserve sign-up bonus eligibility. My wife cancelled her preferred ~1yr ago after we got married. She is an authorized user on my preferred. She had last got the preferred signup 4 or 5 years ago, so well before 24 months.

 

The best source I can find is from 2017, which says: "If you had the Sapphire Preferred in the past, got the welcome bonus more than 24 months ago, and closed it, you’re eligible for the same card again."

 

I'm hoping someone with more knowledge of this game like @culdeus may be able to help me understand if she could do the reserve now and get the bonus. 

It's 48 months since getting the last bonus now.  And you can get both the preferred and the reserve if you time it well.  It is not a good idea for this to be your first two chase cards and instead work them for several biz cards and get both sapphires at 4/24

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10 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. 

 

 

If you are wanting to get the companion pass and max out it’s benefit best to get the bonus after your December 2019 statement cuts off. Anything spent or bonuses earned after your December statement applies to 2020. If you earn the companion pass in 2020 you can use it for the rest of 2020 after you earn it and all of 2021. Earning the bonus before your Dec 2019 statement cuts off, the bonus wouldn’t count towards 2020’s threshold of 125k points.

Also they upped the threshold to 125k for 2020, kind of shady for all the people that went after their new limited time 80k bonus points business card a few months ago. Edit: it’s only 15k more, but still should have announced that at the same time they did the big new offer.

Edited by Buckna
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Also if anyone is thinking of signing up for a Southwest card (Jan/Feb timeframe is the best time of year to earn a companion pass because you get it for the rest of 2020 and 2021.) I am down for sending referral links out and/or rotating with others that have SW cards too.

Edited by Buckna
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25 minutes ago, Buckna said:

Also if anyone is thinking of signing up for a Southwest card (JANUARY is the best time of year to earn a companion pass because you get it for the rest of 2020 and 2021.) I am down for sending referral links out and/or rotating with others that have SW cards too.

You should be more specific here and fix post as bolded..  

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17 hours 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.

start here  read the wiki.  there's a TON of info.  there's also a glossary in there, which helps a lot!

i'd be happy to send you a referral link to the sapphire card.  15k bonus for me.  :D 

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17 minutes ago, culdeus said:

What decision did you get.  There is a flowchart for this also. 

Not sure what you mean by decision...still awaiting the verdict of my application.  I have the flowchart and am following - may slow play for a bit.  We will likely be in the market for a new house in 2-3 years, so don't want to kill the credit too much.  $50k won't be happening, but plan on hitting that $5k figure for sure with Christmas coming up and some other expenses.

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3 minutes ago, RoxSolid said:

Not sure what you mean by decision...still awaiting the verdict of my application.  I have the flowchart and am following - may slow play for a bit.  We will likely be in the market for a new house in 2-3 years, so don't want to kill the credit too much.  $50k won't be happening, but plan on hitting that $5k figure for sure with Christmas coming up and some other expenses.

2-3 years ago my credit score was 730.  59 cards later I'm at 814.  

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4 hours ago, culdeus said:

You should be more specific here and fix post as bolded..  

:kicksrock:   I just confirmed that I'm past the first spend threshold if it's $3k, and my statement is on the 17th, so it sounds like they'll give me my bonus before the year end. Live and learn, I guess. I'll have to get smarter with this churning stuff.

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2 hours ago, DA RAIDERS said:

start here  read the wiki.  there's a TON of info.  there's also a glossary in there, which helps a lot!

i'd be happy to send you a referral link to the sapphire card.  15k bonus for me.  :D 

There are no referral links that work for the personal CSR, I think you can generate one for CSP though.  CIP of course is big $$$

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17 minutes ago, culdeus said:

Well there is virtually no reason to apply for the CSP alone, unless can show proof of active military service.  

10k better bonus.  $95 vs $450 annual fee.  2x travel bonus vs 3x travel bonus  15k referral vs no referral.

between the wife and i we have 180k points  in a few months, doing virtually nothing.  :shrug:  

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4 minutes ago, DA RAIDERS said:

10k better bonus.  $95 vs $450 annual fee.  2x travel bonus vs 3x travel bonus  15k referral vs no referral.

between the wife and i we have 180k points  in a few months, doing virtually nothing.  :shrug:  

Ok, well you could have had another 100k points for the same following the flowchart.  And all 280k points would be worth 1.5x over what your 180k were, and earned back that 95 and another $205 each.  

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5 minutes ago, culdeus said:

Ok, well you could have had another 100k points for the same following the flowchart.  And all 280k points would be worth 1.5x over what your 180k were, and earned back that 95 and another $205 each.  

do you mind explaining this more clearly.  where does the extra 100k in points come from?  why are they worth 1.5x more?  and how am earning that $505?  

you act omniscient about this stuff and the advice you usually give is, "you're doing it wrong, follow the flow chart"  with a sprinkling of comments like the one above.  i want to do it "right"   i thought i was following the flow chart.  apparently, not correctly.  help a brother out.

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4 minutes ago, DA RAIDERS said:

do you mind explaining this more clearly.  where does the extra 100k in points come from?  why are they worth 1.5x more?  and how am earning that $505?  

you act omniscient about this stuff and the advice you usually give is, "you're doing it wrong, follow the flow chart"  with a sprinkling of comments like the one above.  i want to do it "right"   i thought i was following the flow chart.  apparently, not correctly.  help a brother out.

The flowchart covers the concept of the "MDD" or Multiple Daily Dip.  

In this situation you apply for the CSR on day 1, get approved, then the day after approval of the CSR you apply for the CSP.  

The CSR adds a 1.5x multiplier for all UR points. It also comes with a $300 travel credit that can be double dipped.  Meaning you can get $600 out of that $300 on your anniversary day.  Easily.

Considering you can only get one sapphire bonus every 48 months, it's absolutely critical to use the MDD while it still works.  Even without the MDD the CSR travel credit double dip value plus UR multiplier benefit exceeds the CSP value even if you have literally zero interest in stuff like Priority Pass and the other minor perks it has like trip delay, and overseas auto coverage.

 

 

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Also CSR is the ONLY card that allows you to use trip delay coverage on award flights.  That alone can pay for the entire fee in one shot.  Citibank discontinued this on their premier card this year, and Amex has never offered it on any of their cards.  

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1 hour ago, joker said:

:kicksrock:   I just confirmed that I'm past the first spend threshold if it's $3k, and my statement is on the 17th, so it sounds like they'll give me my bonus before the year end. Live and learn, I guess. I'll have to get smarter with this churning stuff.

I did basically the same thing and messed up and won’t hit 110k points this year, but I did get the promotion at the beginning of the year where it was bonus points and a free companion pass for just 2019. Still got some free flights out of that for my wife for the holidays.

Supposedly you can stack the two SW business card bonuses so going to try to knock that out in the 1st few months of 2020 and hopefully get a companion pass that way early, or if they change it and can’t stack when I am ready, I should hit 125k at some point during the year with 1 bonus plus our regular spending. I’d have like 200k SW points at that point, with a companion pass that would be a lot of free flights!

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Right now the wider community is sweating what appears to be a broadening sweep at AA looking at high mile account holders.  A tiny number of people that report they did not sell their miles off are getting caught up in a ban wave. 

This is only to say, that in this game things change fast and take advantage of what you can when you can and don't look back. 

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