Credit Card Rewards

[nick]

[Cnasty]

Thanks Weas!

So to understand your statement, once you reach the bonus on a card you don't use it anymore and then open another one at that time? So basically ever 3-6 months a new card? So get as many Chase as possible early on with the 5/24.

Mapping out a game plan but I just started with the 1 Chase.

[Weasel]

Yup, pretty much. So a theoretical plan could be:

May: Me CSP
August: Wife Chase Ink
November: Me United Explorer business*
Feb: Wife CSP
May '20: Me Chase Ink; close CSP
Aug 20: Wife explorer business*, close Ink
Nov 20: Me American AAdvantage Business*, close explorer
Feb 21: wife anything new
May 21: wash, rinse, repeat

Using that plan, only the CSP counts towards the 5/24, or those starred could if you went with the personal instead of the business cards. So theres wiggle room, but I ran into issues bc I was putting spouse as authorized user for everything

[Weasel]

Also worth knowing which airlines are best for your location. For instance, I know American has a main hub at DFW so might be worth getting some of those for you

[Uuaww]

Also worth knowing which airlines are best for your location. For instance, I know American has a main hub at DFW so might be worth getting some of those for you

AA cards are also infinitely churnable. Amex cards can usually only be once per lifetime per card, everything else is once every 24 months for the bonus. AA cards are also once per 24 months but if you get an invite code you can skip that. My buddy runs a charity flying immigrants around the world out of hostile situations and does about 5 AA cards a month. If you have an invite code mailer, you can get an AA any time.

[Cnasty]

Why don't you guys have any AMEX plat?

[Uuaww]

the annual fee is the steepest ($550) and not the easiest way to get max value. $200 airline credit can't be used on flights (but can be done with giftcards) isn't the easiest to use and the $200 uber credit is spread out monthly so if you don't use it, you lose it. While their lounge pass is better and amex points don't have the pull off URs. If I ever got the 100k offer for the amex plat, I would do it, but I won't do it for anything less.

[Cnasty]

Good info.

Was reading a bit last night on The Point Guys and Weasel's site and they recommended the AMEX Plat after you hit 5/24 almost exclusively as the first one.

I now know about the authorized user thing so that's good to know and not add her anymore and vice versa and the Ink seems the logical next card in about 3-6 months. Good stuff fellas!

[Uuaww]

The ink is clutch because it's URs without being a Sapphire. If you are saving up URs you do the preferred first, then the ink. Move all the URs to the ink and close the preferred. Then after you get the ink bonus, get the reserve and transfer to there. The ink and preferred get 1.33 cents per point in the portal but the reserve gets 1.5 so if you're saving up, you get better value waiting until you get the reserve before spending.

[Cnasty]

The ink is clutch because it's URs without being a Sapphire. If you are saving up URs you do the preferred first, then the ink. Move all the URs to the ink and close the preferred. Then after you get the ink bonus, get the reserve and transfer to there. The ink and preferred get 1.33 cents per point in the portal but the reserve gets 1.5 so if you're saving up, you get better value waiting until you get the reserve before spending.

This is the exact road map right here.

[Weasel]

I actually didn't know the reserve got more value in the portal

[Seeitsaveit13]

You lose them or you can transfer them which is less likely.

But even with that being the case you dont need like 20 cards to get what you need from them for your annual trips or multiple through the years as Weasel said. And you can earn and burn instantly as he stated as well.

These bonuses are sometimes 1 trip in themselves but can save up for some big ones like Ted.

After you use them and are ready for the next one you can close them slowly. It doesnt hurt to have them and the key is always paying your statement balance every single month and not carrying balance and meeting the spend limits required to get the bonus.

Example spend limit: 60k bonus points if you spend $4k in 3 months. If you spend $3,999 you dont get the bonus.

What's all of this do to your credit? Too many open accounts/hits doesn't look great, but available credit does... Curious on that part.

[Cnasty]

Available credit-utilization ratio has bigger positive effects then the minor dings of the inquiries on the application.

That's what I wondered as well but was confirmed to be the case.

This doesn't work if you carry balance. Pay statement balance off every single month.

[Weasel]

I can't speak to 20+ cards at a time, but doing 4/year for the last 5 years has had zero negative impact, in fact it may have improved my credit. Both over 800

[Seeitsaveit13]

Anyone have experience with Chase Sapphire Preferred. Thinking of swapping out my venture card

[Cnasty]

Anyone have experience with Chase Sapphire Preferred. Thinking of swapping out my venture card

Yup we have 2. One of the best starter cards and solid rewards and sign up bonus and Chase cards have high reward values.

[Weasel]

Anyone have experience with Chase Sapphire Preferred. Thinking of swapping out my venture card

In my regular rotation, great card/rewards

[wdoupis]

In my regular rotation

We talking all-star or more of a 3 and D wing or rim running 5

[Seeitsaveit13]

Anyone have Marriott Bonvoy Boundless that wants to refer me before I go ahead and get it?

[Seeitsaveit13]

Anyone have Marriott Bonvoy Boundless that wants to refer me before I go ahead and get it?

Ditto Chase Sapphire Reserve... May actually end up doing that one instead