@Anonymous wrote:Either of you care to explain how you got that many points? I'm jealous
Well one of those people has both chase ink biz cards in addition to the csp (and maybe freedom didn't see). With that many signup bonuses the points add up quickly. Beyond that its just a matter of spend especially in bonus categories. Also, people with business cards may have significant bonus category spend on business needs which can be a x5 category. After signup bonuses (and maybe referring others to card and adding AUs) it all comes down to spend.
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@Anonymous wrote:Either of you care to explain how you got that many points? I'm jealous
Sure!
It's pretty simple really, but it does require that you have a large cashflow. In my case, I travel a lot for business, and I have employees who travel a lot.
I have 3 cards that earn UR: a CSP, an Ink Bold, and an Ink Plus. They each had signup bonuses of around 50K UR points.
I put some of my personal spend on the CSP, but really, that doesn't add up to all that much. Maybe $3k to $5k per month? (My wife puts most of the family spend on her CSP, which tends to be quite a bit more than I spend, but is also a different UR account; I didn't include her balance in mine.)
The Ink Bold and the Ink Plus are business cards, and I have several employees who have copies. Our firm travels a lot, and I put my hotels on the Ink cards (and my airline tickets on the Amex), so I routinely put $10k to $25k in travel per month on those 2 cards. Hotels are 2x UR. So call it 400k + UR points per year. My MR balance is actually a bit higher than my UR, since airline tickets tend to be more expensive than hotels, and are at 3x MR.
Since I do travel a lot, I have very large miles balances at the major airlines I use, and large balances at the hotel chains I use. Consequently, I pretty much never cash out my UR (or MR, or TY). So mostly they just sit there and accumulate.
I've found that when I'm in a phase of my life where I'm traveling for business, I don't really have time to travel for pleasure, so the opportunities to use those points are limited. When I am doing less business travel, I will probably use those points for family travel. If that day doesn't come, I will give them to charity.
@Anonymous wrote:Thank you. Guess I need to start a business and hire employees. I know I can get the business cards down the road with an eBay 'business'. I just wouldn't have that kind of monthly spend. Hope you get to enjoy those points before too long.
Keep in mind they are reimbursable expenses, not personal income. So if you have a business that involves a lot of reimbursable expenses, your points add up quickly. In my case it's employees (and myself) who are traveling, with expenses reimbursed by our clients. But depending on your eBay business, if you were buying widgets each day for, say, $1,000, and then selling them for $1,010, you wouldn't be making a lot of money, but you would be accumulting a disproportionate number of UR or MR points. Of course, you would have to work through the transaction costs (eBay, payment processors, etc) to make sure you weren't losing money.
I am not a fan of the whole "manufactured spend" thing. But some businesses legitimately involve high cash flow, and those can result in a lot of accumulated points.
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