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@longtimelurker wrote:
@Open123 wrote:
longtimelurker wrote:In contrast, $5K spent on say the double cash card would get you $100When put this way, it just seems so underwhelming.
Seriously, for $5K, if you're not too sensitive about HPs/New accounts/AAOAs, just cycle all the sign up bonuses you can. At least this way, you'll be earning around 25% return on your spend.
Yes, as we have both said in the past, rewards from actual ongoing spending (aka using card as intended) is usually pretty insignificant!
And, it still astonishes me this simple fact isn't readily obvious to everyone. I understand not apping to raise or rebuild credit, but if one were to app anyway, I don't understand not trying to maximize the value for the same HP/new account.
@Open123 wrote:
@elim wrote:
ask around for the best sign up bonuses and patiently wait for the big offers (unless you have a $3000 item that you are about to purchase)
50k PRG, 70k Marriott, 140k Ritz, $200 Freedom, etc.
Right, it's paramount to be selective, strategic, and plan ahead on what you value the most. Then, prudently wait for the right offer, and app for it. Moreover, you'll need to search for external/backdoor links, since often the best sign-up bonuses will not be on the Issuer's site.
Wasn't even aware that an issuer's site didn't provide the best sign-up bonuses, I thought those didn't change. Wow...
If you don't travel much, you already have the Chase Freedom and the Blue Cash, which would seem to cover most bases. But if you're really interested in accumulating points, consider...
Chase Freedom, if:
- you want to earn points that can be used to purchase travel (hotel, car, air) through the Chase travel portal at a rate of $.01 per point
- you want the flexibility of getting cash back at 1 cent per point
- you want rotating categories, e.g. gas, restaurants, Amazon, etc., at 5x on a quarterly basis
- you don't want any annual fee
Chase Sapphire Preferred (CSP), if:
- you want to earn points that can be used to purchase travel (hotel, car, air) through the Chase travel portal at a rate of $.0125 per point
- you want the flexibility of getting cash back at 1 cent per point
- you want the flexibility to transfer points to frequent flier accounts or hotel loyalty programs and spend those point through those programs, potentially getting a value greater than $.0125 per point
- you want to earn 2x points every day year round on dining and almost every conceivable travel expense you can imagine, including parking
- you want to earn 3x on dining every first Friday of the month
- you can spend enough to justify the $95 annual fee
Since you don't intend to travel much, I wouldn't bother with Amex Membership Rewards, which are best used on travel, nor with any card having a fee higher than the CSP.
@bch238 wrote:If you don't travel much, you already have the Chase Freedom and the Blue Cash, which would seem to cover most bases. But if you're really interested in accumulating points, consider...
Chase Freedom, if:
- you want to earn points that can be used to purchase travel (hotel, car, air) through the Chase travel portal at a rate of $.01 per point
- you want the flexibility of getting cash back at 1 cent per point
- you want rotating categories, e.g. gas, restaurants, Amazon, etc., at 5x on a quarterly basis
- you don't want any annual fee
Chase Sapphire Preferred (CSP), if:
- you want to earn points that can be used to purchase travel (hotel, car, air) through the Chase travel portal at a rate of $.0125 per point
- you want the flexibility of getting cash back at 1 cent per point
- you want the flexibility to transfer points to frequent flier accounts or hotel loyalty programs and spend those point through those programs, potentially getting a value greater than $.0125 per point
- you want to earn 2x points every day year round on dining and almost every conceivable travel expense you can imagine, including parking
- you want to earn 3x on dining every first Friday of the month
- you can spend enough to justify the $95 annual fee
Since you don't intend to travel much, I wouldn't bother with Amex Membership Rewards, which are best used on travel, nor with any card having a fee higher than the CSP.
Thank you for the explanation. Didn't even know these points were so versatile.
The Chase Freedom is a little underrated on this board. People usually talk about it simply as a good companion to the CSP due to the 5x categories, which is true and why I have one, but it DOES earn Ultimate Rewards points that can be used to buy travel directly. They only have a 1 cent value and can't be transferred (except to a CSP or Chase Ink card), but if you're looking to accumulate points that don't expire, there it is.
@bch238 wrote:The Chase Freedom is a little underrated on this board. People usually talk about it simply as a good companion to the CSP due to the 5x categories, which is true and why I have one, but it DOES earn Ultimate Rewards points that can be used to buy travel directly. They only have a 1 cent value and can't be transferred (except to a CSP or Chase Ink card), but if you're looking to accumulate points that don't expire, there it is.
So basically, i'm on the way to the right combo for me as someone who doesn't travel much?
P.S. I PM'd you.
THANKS!
@SecretAzure wrote:
@bch238 wrote:The Chase Freedom is a little underrated on this board. People usually talk about it simply as a good companion to the CSP due to the 5x categories, which is true and why I have one, but it DOES earn Ultimate Rewards points that can be used to buy travel directly. They only have a 1 cent value and can't be transferred (except to a CSP or Chase Ink card), but if you're looking to accumulate points that don't expire, there it is.
So basically, i'm on the way to the right combo for me as someone who doesn't travel much?
There are several attributes and features which separates the UR program from the others. Namely, they are as follows: (1) instantly convertible into cash; (2) greater opportunities to earn at an accelerated rate (5X Freedom, 5X Inks); and, (3) finally, true ability to transfer to FF and Hotel reward programs.
URs are the most flexibile of programs, and has a natural 1 ccp hedge vs. future devaluation. At present, UA and Hyatt transfers offer the most value, but SW and BA for domestic flights may offer some compelling redemptions too.
If I were starting out and not sure which travel preferences I may have in the future, I'd start with the UR program.
@Open123 wrote:
@SecretAzure wrote:
@bch238 wrote:The Chase Freedom is a little underrated on this board. People usually talk about it simply as a good companion to the CSP due to the 5x categories, which is true and why I have one, but it DOES earn Ultimate Rewards points that can be used to buy travel directly. They only have a 1 cent value and can't be transferred (except to a CSP or Chase Ink card), but if you're looking to accumulate points that don't expire, there it is.
So basically, i'm on the way to the right combo for me as someone who doesn't travel much?
There are several attributes and features which separates the UR program from the others. Namely, they are as follows: (1) instantly convertible into cash; (2) greater opportunities to earn at an accelerated rate (5X Freedom, 5X Inks); and, (3) finally, true ability to transfer to FF and Hotel reward programs.
URs are the most flexibile of programs, and has a natural 1 ccp hedge vs. future devaluation. At present, UA and Hyatt transfers offer the most value, but SW and BA for domestic flights may offer some compelling redemptions too.
If I were starting out and not sure which travel preferences I may have in the future, I'd start with the UR program.
Agreed. I just used 140K on a Southwest transfer and got a great deal on travel for our family's summer vacation. I expect better deals can be had, but I tend to decide where I want to go then use points; others seem to choose a destination based on the best redemption rate.
@bch238 wrote:The Chase Freedom is a little underrated on this board. People usually talk about it simply as a good companion to the CSP due to the 5x categories, which is true and why I have one, but it DOES earn Ultimate Rewards points that can be used to buy travel directly. They only have a 1 cent value and can't be transferred (except to a CSP or Chase Ink card), but if you're looking to accumulate points that don't expire, there it is.
The points can be used to book travel on the website, but as you say, its only 1cpp so more efficient to cash out and see if you can book travel cheaper elsewhere.
I don't think Freedom is underrated, it is appreaciated as a 5% revolver (although certainly some prefer Discover for this) as well as the link to CSP (and Ink) that you mention
@longtimelurker wrote:
@bch238 wrote:The Chase Freedom is a little underrated on this board. People usually talk about it simply as a good companion to the CSP due to the 5x categories, which is true and why I have one, but it DOES earn Ultimate Rewards points that can be used to buy travel directly. They only have a 1 cent value and can't be transferred (except to a CSP or Chase Ink card), but if you're looking to accumulate points that don't expire, there it is.
The points can be used to book travel on the website, but as you say, its only 1cpp so more efficient to cash out and see if you can book travel cheaper elsewhere.
I don't think Freedom is underrated, it is appreaciated as a 5% revolver (although certainly some prefer Discover for this) as well as the link to CSP (and Ink) that you mention
So cash out and book a flight instead of just directly using the points?