whats the Best of the Best

[longtimelurker]

Maybe they'll surprise us and say "Oh, that ends in Aug, then it's going to be 50% for gold and 75% for plat", but given recent nerfing on the Cash Plus, probably not!

[ztnjpv]

I think US Bank went overboard on the Cash + and found that it was unsustainable. Was it all by design to get card holders lured in? Or was it partly an underestimation of credit card savvy people out there who made the program bleed cash?....like me ;-)

Maybe more the former than the latter but I wonder. I have taken them for over $2300 in cash back since July 2012. I'd have been on track for $3000 but they took out Bill Pay. 

[longtimelurker]

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@ztnjpv wrote:

I think US Bank went overboard on the Cash + and found that it was unsustainable. Was it all by design to get card holders lured in? Or was it partly an underestimation of credit card savvy people out there who made the program bleed cash?....like me ;-)

Maybe more the former than the latter but I wonder. I have taken them for over $2300 in cash back since July 2012. I'd have been on track for $3000 but they took out Bill Pay. 

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I think one thing that has happened, that perhaps US Bank was unprepared for, is the speed through which "deals" get known through the major credit/miles blogs and forums.   Fairly quickly it became known the Cash Plus, esp bill pay, was a Good Thing, and the number of takers might have surprised a regional bank like US Bank.  They may also have underestimated how much people could find to put on bill pay!

But Amex made the same initial mistake with the BCP.  6% off groceries is bound to attract attention, and it doesn't take a genius to realize that you can also buy gift cards at many supermarkets, and so you can spend a LOT and get 6% of a lot back!   Same applies to Home Improvements category for Cash Plus.

So Amex imposed the cap, in a very fair way, giving some people almost another year of unlimited spend. 

Then the TYP 5x did the same thing (although to be fair that was around earlier).  5% uncapped on groceries and drug stores, especially with all the new manufactured spend techniques, is clearly unsustainable.  With that card, at least one person got $8,000 in six weeks.  And yes, they are aggressively shutting people down now.

[kibarrow]

I'm only two months in with CSP. So it has my initial vote. I'll see how it does in London this summer. (They're working to get the chip in the metal card)
But this far... Awesome. Assuming not carrying balance so interest irrelevant... CSP.
No AF
7% on points spent or not spent annually
No FTF
Metal (not really a factor)
Awesome
https://creditcards.chase.com/sapphire/credit-card-benefits/chase-sapphire-preferred-benefits/

[longtimelurker]

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@kibarrow wrote:
I'm only two months in with CSP. So it has my initial vote. I'll see how it does in London this summer. (They're working to get the chip in the metal card)
But this far... Awesome. Assuming not carrying balance so interest irrelevant... CSP.
No AF
7% on points spent or not spent annually
No FTF
Metal (not really a factor)
Awesome
https://creditcards.chase.com/sapphire/credit-card-benefits/chase-sapphire-preferred-benefits/

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The No AF is only for the first year, and people are reporting that it is now very difficult to get waived after that.

[kibarrow]

I will update on the AF. I think (think) depending on 7% dividend it may justify. I did hear the same thing about the AF and difficulty of removing. I never bank on that with the top tier CC's. I've found Plasticiq.com to be the most informative on the benefits of a card hands down. Not to change thread, what do you use or find most useful to find out about card info such as this thread topic?
Thx!

[longtimelurker]

The dividend, like the anniversary bonus on Citi cards, really doesn't amount to much, really a marketing "trick".  If all your spend is 2% and just use cashback, on $1000 you would earn $20.  The dividend would give you another $1.40 (if it includes bonus points as well, Citi doesn't)  So to justify the AF on dividend alone, would take ~ $70K of annual 2% spending, and double that for 1%

Of course, the AF is justified in many ways, especially as cashback isn't the way to go, but the dividend contribution is minor.

[ztnjpv]

You know, I don't have a CSP but have been strongly considering it for the 40,000 UR Point bonus (along with the Ink Plus for a nice 90,000 URpoint gain +the points for spending). The thing I don't fully get is why people love it so much after bonus is attained. 

When you really look at the rewards, they aren't that great....especially in light of far better options on the bonus categories for restaurants and "travel". Now I know that savvy miles/points bloggers will tell you how they value UR Points through the CSP on average at 1.5 to near 2 cents each. Yes, that makes the spending rewards more attracted than the face value appearance 1 or 2 points per dollar. The problem is that there are specific transfers to certain hotels or airlines that need to be done to realize that point value. Personally, I find these lucrative rewards options to be hypothetical until you actually use them for that purpose. Transferring to Hyatt is a great choice. You really get bang for the buck. But how often do I stay at Hyatts?? Not that often. I dunno. I am sure it's great and all. I just don't think it merits the hype I see on points/miles blogs. 

And yes, I still may get it for the 40K. Whether I keep it beyond the first year...let alone use it after the minimum spending is met...is another matter. I'd probably just PC it to Freedom. Moreover, having the Ink Plus/Bold gives you the same transfer benefits...making it even more useless.

[longtimelurker]

For many, the hype is indeed overdone (and I don't get AT ALL the love for the Cap One Venture on those same sites).    But for some, a few of the high-value transfers (3,4,5 cents per point) justifies the cost many times over.  

[kibarrow]

No debate there. I do about 40K annually at minimum.
So it may cut it in half. That's tolerable. (For now)
Anything, for me at least, with a sizeable credit limit has an annual fee attached that I have to swallow until the no AF cards I have will allow my spending. (CSP and Citi HHonors Reserve are the only ones that can support my spending right now ...no FTF due to multiple trips to CAN).