Credit Cards

[dkg1616]

Originally Posted by Saltzy

Want.

This is what I have - it’s a cool card with great point system and customer service. It’s for being a private bank client with JP Morgan

[Saltzy]

Originally Posted by dkg1616

This is what I have - it’s a cool card with great point system and customer service. It’s for being a private bank client with JP Morgan

You are a better person than I am.

[Jabbo84]

Wait til they implement the new credit scoring this fall. It will separate the men from the boys and I forecast less incoming threads on TRF. This new system will expose those that have been carrying high debt and “ living” on credit cards.

[dxbtousa]

Originally Posted by dkg1616

This is what I have - it’s a cool card with great point system and customer service. It’s for being a private bank client with JP Morgan

Have the same, on the contrary I think I CS and concierge is average at best.

Simply keeping the card due to United club membership and 300 travel credit

[Tony8959]

I’ve always dabbled with credit card points but it’s not until the last 5 years I’ve gotten into them seriously. Most people don’t realize how their daily spend, combined with using the right cards can be tremendously valuable. I try to use a CC whenever I get the chance, as I’m getting no benefit by using cash unless there’s a discount stated.

Waiting for the right sign up bonus offers for the right travel cards is a way to net a lot of points that wouldn’t be possible with organically spending. Also, online travel portals can add onto the amount you earn per dollar.

I’m a big fan of chase ultimate rewards as they’re very easy to earn and redeem. There has been some devaluations over the past few years in certain loyalty programs but I still find good value in some transfer partners such as Hyatt and United.

With points I’ve been able to fly around the world in business/first class and stay in high end hotels. It’s all about knowing the right strategy. I tell everyone who dabbles in it to only do it if you pay your bill off in full every month. The credit card companies are betting that spending a large amount on a card to get a signup bonus will leave you in debt and paying large amounts of interest every month. This will negate any benefits you get from the points. I’ve helped a lot of my friends and family over the last couple years take memorable trips with points. It’s become a side hobby of mine.

[jaisonline]

Originally Posted by jaisonline

personally, i just want the tom ford wallet the new amex centurion black card comes w/ .

heck, i have no idea if tom ford is even a well known designer.

i think my question is answered...

"Tom Ford, Where the Rich and Famous Go to Look Rich and Famous"

https://www.nytimes.com/2017/08/15/f...ord-store.html

[Drdubzz]

Originally Posted by CashGap

You make a point I had forgotten.

AMX waives EVERY annual fee for active duty military. Pretty amazing.

Even Centurion I suppose, but it might take some family money to get one while in!

Thanks for your service.

I appreciate it

And yes, Amex treats military members very well. I will be sad to (most likely) cancel them all when I get out, hopefully that's upon retirement in 10-12 years

[ras47]

Stock photo. I've had this AMEX card for decades. They keep trying to get me to upgrade but I'm sticking with this one.

[CashGap]

Originally Posted by themast

Something that has not been mentioned yet is that ultimately because of the credit cards existence, everything is more expensive since vendors have to pay CC fees/commissions.

Absolutely. Everyone pays for these benefits as pricing is nominally based on a credit card transaction. Some, as noted above, pay for the benefit and opt out of receiving these benefits for some reason beyond my understanding.

[Bobcat Sig]

Delta Reserve AmEx and Chase Saphire for me. I'm debating on adding the Apple Card but the prior two cover everything quite well.

[Bobcat Sig]

Originally Posted by Tony8959

I’ve always dabbled with credit card points but it’s not until the last 5 years I’ve gotten into them seriously. Most people don’t realize how their daily spend, combined with using the right cards can be tremendously valuable. I try to use a CC whenever I get the chance, as I’m getting no benefit by using cash unless there’s a discount stated.

Waiting for the right sign up bonus offers for the right travel cards is a way to net a lot of points that wouldn’t be possible with organically spending. Also, online travel portals can add onto the amount you earn per dollar.

I’m a big fan of chase ultimate rewards as they’re very easy to earn and redeem. There has been some devaluations over the past few years in certain loyalty programs but I still find good value in some transfer partners such as Hyatt and United.

With points I’ve been able to fly around the world in business/first class and stay in high end hotels. It’s all about knowing the right strategy. I tell everyone who dabbles in it to only do it if you pay your bill off in full every month. The credit card companies are betting that spending a large amount on a card to get a signup bonus will leave you in debt and paying large amounts of interest every month. This will negate any benefits you get from the points. I’ve helped a lot of my friends and family over the last couple years take memorable trips with points. It’s become a side hobby of mine.

Where would suggest one start to read up on the Chase rewards? I find treading their policies a bit dry and know that there are users out there that have documented how to maximize said points.

Right now, I have a pile of Skymiles that the wife and I use for travel, but I'm new the Chase points.

[Saltzy]

Originally Posted by Bobcat Sig

Where would suggest one start to read up on the Chase rewards? I find treading their policies a bit dry and know that there are users out there that have documented how to maximize said points.

Right now, I have a pile of Skymiles that the wife and I use for travel, but I'm new the Chase points.

This is a pretty solid write up on how to squeeze as much value out of them as possible.

https://thepointsguy.com/guide/redee...maximum-value/

It can really start to become a rabbit hole if you are OCD with transferring points, comparing prices across different sites, etc.

At this point, I just let my points build up and use them solely for travel directly through the Ultimate Rewards portal, where again, they are worth 50% more than for anything else. It uses Experian search engine, so the prices you see there are the same you get through the Chase portal when you use your points.

[037]

Originally Posted by Saltzy

At this point, I just let my points build up and use them solely for travel directly through the Ultimate Rewards portal, where again, they are worth 50% more than for anything else. It uses Experian search engine, so the prices you see there are the same you get through the Chase portal when you use your points.

Have you ever shopped around for flights compared to the UR portal? Last trip I booked ended up cheaper online than I could get using points. The price I found was literally half.

I understand people leveraging points for travel but am not yet convinced that it beats shopping around in all cases.

[christianj]

My main cards are:
Amex Gold - Dining and grocery charges
Chase Freedom Unlimited - everyday spending in non-bonus categories
Chase Sapphire Reserve - travel

Also hold several others for the benefits but they don't get a lot of spend.

I used to have the Amex Plat. but felt it wasn't worth the extra annual fee over the Gold when they updated those benefits. Changes on CSR have me a little upset but I will see if I can get some value out of them or not and if not I will downgrade to the regular Sapphire which I had before they introduced the CSR.

[Jabbo84]

You guys with 6-8 credit card and a fico score of 800 are the ones fooling yourself. All you have done is successfully paid a bunch of payments and interest to the banks. That score probably cost you a 100,000.

[CamSLC]

Originally Posted by Jabbo84

You guys with 6-8 credit card and a fico score of 800 are the ones fooling yourself. All you have done is successfully paid a bunch of payments and interest to the banks. That score probably cost you a 100,000.

There is no "bunch of payments and interest" when you pay the card in full every month. The good credit score was just another free benefit.

[CamSLC]

Originally Posted by 037

Have you ever shopped around for flights compared to the UR portal? Last trip I booked ended up cheaper online than I could get using points. The price I found was literally half.

I understand people leveraging points for travel but am not yet convinced that it beats shopping around in all cases.

Was it for the exact same flight? I know Frontier/Southwest don't filter to Chase UR portal. So it would be very reasonable to find their flights cheaper directly than United/AA/Delta through Chase.

[037]

Originally Posted by CamSLC

Was it for the exact same flight? I know Frontier/Southwest don't filter to Chase UR portal. So it would be very reasonable to find their flights cheaper directly than United/AA/Delta through Chase.

Delta out and AA on return. Same flights. I used Skiplagged and was able to skip connections on the same flight numbers and saved about half. Might have been just under half. Same seats as well.

[CamSLC]

Originally Posted by 037

Delta out and AA on return. Same flights. I used Skiplagged and was able to skip connections on the same flight numbers and saved about half. Might have been just under half. Same seats as well.

Oh Skiplagged is a whole other ball game. I've used it for quick one ways with carry on only. Obviously cheaper than booking a traditional round trip flight.

[dkg1616]

Originally Posted by Saltzy

You are a better person than I am.

Lol I woudlnt say that - it’s just a CC - we all have to pay bills on time

[037]

Originally Posted by CamSLC

Oh Skiplagged is a whole other ball game. I've used it for quick one ways with carry on only. Obviously cheaper than booking a traditional round trip flight.

Yeah, most of my trips are last-minute. If my clients don't cover the cost then I'll spend a few minutes and hunt for a skip that meets the same flight/time/seat. Maybe it's cheating but I've survived so far.

Looks like Jabbo84 got himself banned. I was curious how the heck he came up with the math on 6-8 cards and $100k loss to get 800+. There's no way that adds up.

[themast]

Originally Posted by 037

Yeah, most of my trips are last-minute. If my clients don't cover the cost then I'll spend a few minutes and hunt for a skip that meets the same flight/time/seat. Maybe it's cheating but I've survived so far.

Looks like Jabbo84 got himself banned. I was curious how the heck he came up with the math on 6-8 cards and $100k loss to get 800+. There's no way that adds up.

I think that there is an internet myth that to increase your score you need to carry a balance. I have heard it repeated by educated (obviously not on financial matters!) people as well. I have never ever paid a single cent in interest or fees and my score has always been excellent.

Regarding the reward points, I just recently gave in for an Amex with a reward points system and I think that the points are worth at best $0.01. That still works out for my spending level because by gaining 3x on restaurants and travel I still make above 2% a year in returns after the membership fee and valuing $0.01 a point. People saying that they value the points $0.02 a point rely on snagging one off deals and being very flexible with the way they use the miles. Those transatlantic flights in first class for 70000 miles exists but are rare and often on flights where an economy ticket would be $400. This has been my impression so far but I am giving the membership reward system a try to see if it really works out for me.

[christianj]

Originally Posted by Jabbo84

You guys with 6-8 credit card and a fico score of 800 are the ones fooling yourself. All you have done is successfully paid a bunch of payments and interest to the banks. That score probably cost you a 100,000.

No interest paid EVER and all of the cards I hold pay for themselves with the benefits/freebies associated with them...some actually are worth more than their annual fees.

[Memphiis]

Originally Posted by Saltzy

Want.

I want it too. Where to sign in?

[Mihislau]

After having several cards, now I just have one card and it’s a debit card. The only one I would consider is the Apple Card, free and with straightforward cash back. I really value simplicity and taking care of several cards, different websites and statements, different point systems and rewards, it is not worth it for me.

[beshannon]

Originally Posted by Jabbo84

You guys with 6-8 credit card and a fico score of 800 are the ones fooling yourself. All you have done is successfully paid a bunch of payments and interest to the banks. That score probably cost you a 100,000.

It is ok if you do not understand

We make one payment in full each time a bill comes in. We are using points this year to stay in Italy.

[Tony8959]

Originally Posted by beshannon

It is ok if you do not understand

We make one payment in full each time a bill comes in. We are using points this year to stay in Italy.

Same here .. in the past I have paid some interest. But since I’ve started using CC points I haven’t paid any. In roughly the past year we’ve done Vegas, Hawaii and Italy on points. The whole trick is just making sure you can pay off whatever you charge to your card each month. It almost doesn’t make sense to use cash, unless you’re offered a discount for doing so.

[CashGap]

Originally Posted by CamSLC

Oh Skiplagged is a whole other ball game. I've used it for quick one ways with carry on only. Obviously cheaper than booking a traditional round trip flight.

(deleted)

[2x4]

I travel just enough to justify the AMEX Platinum and I do get my perks worth. Probably the only reason I have it. For everyday and everything is on a Capital One Venture. I don’t carry a balance and i usually accumulate enough points that it covers my vacation.

[BroncoOne]

First off, everyone has different needs and wants when it comes to credit card rewards.

Personally, I refuse to open an account with any bank that will not waive the annual fee. I understand that there are folks that know that they will offset the fee with rewards, but I have enough to manage without dealing with it. Of course, plenty of folks automatically are already doing things that offset, so to each his own.

I live in the northeast US and fly a lot and JetBlue dominates the market here. I use the Barclays JetBlue Plus card. I get enough points every year to pay for round trip tix for vacations -this year about $10,000 worth and got automatic Mosaic status based on spend before even getting the flight miles. That's on automatic for me.

Downside is there is no cash back, so if it matters to you, switch to using a cash back card after you max out the JetBlue card benefits.