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Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Why does everyone want CSP?


jsickz32 wrote:

distantarray wrote:

jsickz32 wrote:

i want the card cuz its metal and for dinning. i eat out every single day because i cant cook at all. i have a forward for restaurants but im changing it tomorrow morning to the thankyou preferred since i asked and was told im elegible


Why? Don't you get more points from Forward? 2.57 points vs 5 points???


yes and for 10k points you can get $50 cash back....18k points got me $180 cash back on my freedom. its easy to rack up points but they are not worth that much for cashback.


Dollar Value of Thankyou Points for Various Redemption Strategies (Best to Worst)Redemption Method Amount Redeemed Points Required Value of Points

Flights (w/ Citi Premier Card Only!)$1007,518$0.0133
Flights (all other Citi Cards)$10010,000$0.0100
Mortgage payment$252,500$0.0100
Student Loan Rebates$252,500$0.0100
Various restaurant gift cards$10010,000$0.0100
Best Buy gift card$506,000$0.0083
Various restaurant gift cards$10010,000$0.0100
Statement Credit$25035,000$0.0071
Cash$508,000$0.0062

 

yea that's pretty lackluster -_-; statement credit, cash, doesn't add up well, besides it'd take a LONG time to overcome the Chase CSP sign up bonus, and with Freedom feeding CSP 5-6 points per transaction it's pretty nice. I guess US Cash+ will have to be my next card for restaurant and bill pay.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Established Contributor
ccnewcc
Posts: 560
Registered: ‎09-29-2012
0

Re: Why does everyone want CSP?


distantarray wrote:

Dollar Value of Thankyou Points for Various Redemption Strategies (Best to Worst)Redemption Method Amount Redeemed Points Required Value of Points

Flights (w/ Citi Premier Card Only!)$1007,518$0.0133
Flights (all other Citi Cards)$10010,000$0.0100
Mortgage payment$252,500$0.0100
Student Loan Rebates$252,500$0.0100
Various restaurant gift cards$10010,000$0.0100
Best Buy gift card$506,000$0.0083
Various restaurant gift cards$10010,000$0.0100
Statement Credit$25035,000$0.0071
Cash$508,000$0.0062

 

yea that's pretty lackluster -_-; statement credit, cash, doesn't add up well, besides it'd take a LONG time to overcome the Chase CSP sign up bonus, and with Freedom feeding CSP 5-6 points per transaction it's pretty nice. I guess US Cash+ will have to be my next card for restaurant and bill pay.


Thats why i stay away from point rewards.  Points are too confusing as it is, and the conversation rates seem to suck.

Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Why does everyone want CSP?


ccnewcc wrote:

Thats why i stay away from point rewards.  Points are too confusing as it is, and the conversation rates seem to suck.


Chase is always the same 1 penny a point no matter what, which is nice =)

 

 


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Frequent Contributor
Happychap
Posts: 321
Registered: ‎10-25-2011
0

Re: Why does everyone want CSP?

I want it becasue I cant get it lol they decline me all the time!! so it makes me want it more :smileyhappy:   it does have good rewards though.

New Contributor
Elcid89
Posts: 567
Registered: ‎10-04-2012
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Re: Why does everyone want CSP?


Creditaddict wrote:

All I see these days are Amex, Freedom and CSP!

 

Why is it everyone's goal lately to have CSP? Especially if you don't travel a lot... do the rewards transfer out to be better than Amex Costco 3% on Restaurants and 2% Gas or 1:1 or 1:1.5 you get with Navy Cash?


Perceived prestige factor. I've found that many on here inexplicably treat credit cards like fashion accessories, and those folks seem to want this card or that card because of the implied prestige they feel that it gives them.

 

Stupid, IMO, but its their money, which they are free to spend as they please.

 

FICO 04 scores: 809 (EQ) 812 (EX) 818 (TU)

Amex Platinum NPSL - Citi HHonors Sig. $58k - BMW Ultimate $40k
Chase Sapphire Preferred $62k - Merrill Lynch + Signature $41k - USAA Rate Advantage $28k
NFCU Flagship Signature $50k - USAA Cash Rewards AMEX $28k
Citi Platinum Select / AAdvantage Signature $31k - Chase Amtrak Rewards World MC $41k

Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Why does everyone want CSP?

Hey just for the sign on bonus is worth getting alone, Sapphire has the ability to get the bonus and run. $500 for travel is good enough for a free weekend cruise.

 

Some people have done things to squeeze out over $20,000 worth of benefits from credit cards in a single year. Like _ _ _ _ bank allowed people to get the same card online 24 times with a good sign on bonus with minimal spending requirements... so people got a 40% return on their spending 24 times a year (husband and wife team)

 

Also it's the first obtainable card that's metal + concierge service + zero transaction fee obtainable by most people with a decent credit history. I like it for the stupid comments I get from it like "Are you one of those?" "This is heavy" I just find it amusing.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Why does everyone want CSP?


Happychap wrote:

I want it becasue I cant get it lol they decline me all the time!! so it makes me want it more :smileyhappy:   it does have good rewards though.


I like it when cards play hard to get too :smileywink:

 

unfortunately I haven't been turned down for a card yet so I'm =\

I got a 754 score but I had 400's last year, I guess it's because I didn't apply for anything crazy. but Wishlist Palladium card >_< I want to hold it haha too bad the backdoor closed 1 month before my scores skyrocketed =\

 

Next wishlist 1. US Cash + (too many inquiries for US bank atm 4) 2. Amex Platinum (no problem since I already got BCP, Platinum is easier to get)


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
New Contributor
Elcid89
Posts: 567
Registered: ‎10-04-2012
0

Re: Why does everyone want CSP?


distantarray wrote:

Hey just for the sign on bonus is worth getting alone, Sapphire has the ability to get the bonus and run. $500 for travel is good enough for a free weekend cruise.

 

Some people have done things to squeeze out over $20,000 worth of benefits from credit cards in a single year. Like _ _ _ _ bank allowed people to get the same card online 24 times with a good sign on bonus with minimal spending requirements... so people got a 40% return on their spending 24 times a year (husband and wife team)

 

Also it's the first obtainable card that's metal + concierge service + zero transaction fee obtainable by most people with a decent credit history. I like it for the stupid comments I get from it like "Are you one of those?" "This is heavy" I just find it amusing.


And I would agree that these cards are useful IF one can pass the spend through them which is necessary to obtain the rewards and IF one diligently plans spending to maximize them. I'm inclined to believe that many folks don't benefit much from the rewards and just want the card because "it looks cool" or "it's prestigious".

 

And again, that's entirely their right. Personally, I'm not paying an AF for anything unless I know that my spend will recoup it for me. My AMEX AF is paid by my firm as a bennie, and I'm luckily in a position where I can pass all of my business travel and expenses through my personal cards, then pay them off with the expense reimbursements. Otherwise, I wouldn't have the cards that I have.

 

FICO 04 scores: 809 (EQ) 812 (EX) 818 (TU)

Amex Platinum NPSL - Citi HHonors Sig. $58k - BMW Ultimate $40k
Chase Sapphire Preferred $62k - Merrill Lynch + Signature $41k - USAA Rate Advantage $28k
NFCU Flagship Signature $50k - USAA Cash Rewards AMEX $28k
Citi Platinum Select / AAdvantage Signature $31k - Chase Amtrak Rewards World MC $41k

Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Why does everyone want CSP?

[ Edited ]

Elcid89 wrote:

 

And I would agree that these cards are useful IF one can pass the spend through them which is necessary to obtain the rewards and IF one diligently plans spending to maximize them. I'm inclined to believe that many folks don't benefit much from the rewards and just want the card because "it looks cool" or "it's prestigious".

And again, that's entirely their right. Personally, I'm not paying an AF for anything unless I know that my spend will recoup it for me. My AMEX AF is paid by my firm as a bennie, and I'm luckily in a position where I can pass all of my business travel and expenses through my personal cards, then pay them off with the expense reimbursements. Otherwise, I wouldn't have the cards that I have.


I don't understand why people get so many cards personally, but yea a lot of people get cards cause of fashion. Personally only card I would get for Fashion is a Palladium card just because it's so damn sexy lol!

 

It all depends, I believe paying an Annual fee if you get cards that you actually plan to use. I think these cards are the only ones you need. 

 

So if you don't spend a crazy amount, and don't travel for business or make over 100k a year These 4 cards should do you just fine.

 

Amex BCP  - Groceries + Gas + Department stores

Chase Freedom with checking 

Chase Sapphire (Trifecta because you can get over 6% category purchases etc)

US Bank Cash + (5% billpay + 5% restaurants in flexible rewards program and can change to home improvement when you buy a house etc)

 

If you travel a lot Amex Starwood + Platinum + Gold  but that's just my opinion.

 

 

 

Amex Starwood - Hotel and travel

Amex Platinum - Airline benefits 

Amex Gold - Airline miles (one of the best, I think it's stupid Gold is better than Platinum for some things =\ if they add the points value to Platinum I"ll definately get it)

 

 

 

PenFed Gas card - I spaced this one far if you spend TONS of gas, because with Chase Trifecta you can get over 6% back on gas purchases for half the year, and BCP for the other half the year it averages over 4.5% per dollar so I don't see the real point for most people to get a dedicated Gas card. If your annual Gas cost is $2000 you saved an amazingly $10 more for the year =D although this can be worth it if you run a company's gas costs or a entire family's gas cost or if you have a big ass car lol.

 

 


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Valued Contributor
jsickz32
Posts: 1,987
Registered: ‎06-25-2012
0

Re: Why does everyone want CSP?

I dont think 95 af for the CSP its stupid. I waste way more than that on a friday night on coronas. Its 8 dollars a month after the first free year so not a bad deal tbh.
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