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@kdm31091 wrote:Generally, you are only going to be able to justify an AF if you are a moderate to high spender. Some dump cards after AF hits because they were simply opening it for the sign up bonus (sorry, but it's the truth). Not that everyone does that, but it's a factor.
That's the other thing, some kind of get talked into cards because of the great bonus, but if you have to spend a lot of money above what you would normally spend to get the bonus, it's not a good deal. Spending $3000 to get $400 is great, but, if you normally would have spent $1500 in 3 months, that's still worse than just saving your money and getting a card that suits you better.
1. Hey, I resemble that remark.
2. But if your spend aligns or is over the required amount then it works out. Never spend money you wouldn't normally spend just to get a bonus.
I have two AF cards that I've had for years; a BoA AlaskaAir card and a BCP. I generally
avoid AF's unless they really make rewards sense. Most AF cards do not make longterm
sense for my spend.
The AkAir is easy to explain, I spend ~$8K on Alaska airlines per year, and between
the bonus miles and the annual companion fare coupon, it's a no-brainer with no competition.
I don't like BoA as an issuing bank, but that's another story.
The BCP is a more convoluted benefit calculation. I could do slightly better, cashback wise,
if I picked up a second Sallie Mae and dumped the BCP and it's annual fee. My BCP is just for
groceries (about $6k a year) and car rental ($1k a year). It isn't just about a simple cashback
calculation. As much as I currently love Barclays, I am not 100% confident the Sallie Mae is
nerf proof, not nearly to the extent I belive BCP is. Amex offers some purchase protections I
believe superior to Barclays. I will attempt to get a second SM later this spring, but I'm not willing
to dump the BCP just yet, even if I'm successful. Diversification is hard to quantify, but definitely
has some value.
One AF card I will app for and then dump sometime in the next 18 months is either a CSP or an
Ink, for the purpose of consolidating and transfering about 100k UR I have sitting stranded on my
Freedom and Ink cash. I have no long term use for either CSP or Ink plus, I just need a conduit for
UR transfer. Not exactly ethical I admit.
I agree that Sallie Mae is probably not nerfproof, I think BCE/BCP have a lesser chance of being nerfed. 5% even with Sallie's caps doesn't seem like something that will last forever on a no AF card (think: there are really no other no AF cards with 5% on anything, much less groceries, yes the caps are low, but still, who knows).
The other downside of Sallie vs. the Amex choices like BCE/BCP is the lack of redemption variety. Some don't see it as an issue, because they take statement credits anyway, but I like that my BCE at least has some flexibility and I can get gift cards too.
@kdm31091 wrote:I agree that Sallie Mae is probably not nerfproof, I think BCE/BCP have a lesser chance of being nerfed. 5% even with Sallie's caps doesn't seem like something that will last forever on a no AF card (think: there are really no other no AF cards with 5% on anything, much less groceries, yes the caps are low, but still, who knows).
The other downside of Sallie vs. the Amex choices like BCE/BCP is the lack of redemption variety. Some don't see it as an issue, because they take statement credits anyway, but I like that my BCE at least has some flexibility and I can get gift cards too.
I'd rather buy GC's and use statement credit.
@kdm31091 wrote:I agree that Sallie Mae is probably not nerfproof, I think BCE/BCP have a lesser chance of being nerfed. 5% even with Sallie's caps doesn't seem like something that will last forever on a no AF card (think: there are really no other no AF cards with 5% on anything, much less groceries, yes the caps are low, but still, who knows).
Actually, the Orbitz Visa is a no-AF card that gives you 5% back on Orbitz purchases, and 2% on all other purchases. There is also no FTF. But you have to use the rewards for Orbitz hotel bookings. There is also no FTF.
@yfan wrote:
@kdm31091 wrote:I agree that Sallie Mae is probably not nerfproof, I think BCE/BCP have a lesser chance of being nerfed. 5% even with Sallie's caps doesn't seem like something that will last forever on a no AF card (think: there are really no other no AF cards with 5% on anything, much less groceries, yes the caps are low, but still, who knows).
Actually, the Orbitz Visa is a no-AF card that gives you 5% back on Orbitz purchases, and 2% on all other purchases. There is also no FTF. But you have to use the rewards for Orbitz hotel bookings. There is also no FTF.
And the buypower card has some similar rewards for buying a GM vehicle.
But orbitz hotel credit or GM new car credit ain't cash
@Anonymous wrote:
@yfan wrote:Actually, the Orbitz Visa is a no-AF card that gives you 5% back on Orbitz purchases, and 2% on all other purchases. There is also no FTF. But you have to use the rewards for Orbitz hotel bookings. There is also no FTF.
And the buypower card has some similar rewards for buying a GM vehicle.
But orbitz hotel credit or GM new car credit ain't cash
Right. But it can be just as good if it's something you use. The Buypower card's 5% is limited to $5,000 a year in spending though.
@yfan wrote:
@Anonymous wrote:
@yfan wrote:Actually, the Orbitz Visa is a no-AF card that gives you 5% back on Orbitz purchases, and 2% on all other purchases. There is also no FTF. But you have to use the rewards for Orbitz hotel bookings. There is also no FTF.
And the buypower card has some similar rewards for buying a GM vehicle.
But orbitz hotel credit or GM new car credit ain't cashRight. But it can be just as good if it's something you use. The Buypower card's 5% is limited to $5,000 a year in spending though.
@Would take you 10 years just to cover TTL at max spend @ 5%