topic Re: Income Requirement For Ritz in Credit Cards

Income Requirement For Ritz

Anonymous — Fri, 20 Nov 2015 23:18:38 GMT

Subject says it all...just wondering as I am considering applying for this once the 140k bonus points hits (if it does)...I travel quite a bit as my job requires it...I have a Marriott now but I would close that if approved as the benefits are better can be redeemed for Marriott. I was approved for 80k bonus points Marriott back in August and just received an auto $1,500 CLI today...anyway enough background, just wondering if there is a minimum income requirement?

Re: Income Requirement For Ritz

Skye12329 — Sat, 21 Nov 2015 00:05:31 GMT

I would guess maybe 25 - 30k for minimum income.

Re: Income Requirement For Ritz

Anonymous — Sat, 21 Nov 2015 00:16:29 GMT

Probably $25k or so to qualify for the $5k minimum credit line. I don't know if annual fee is an UW creteria, but my guess is not for this card?

Re: Income Requirement For Ritz

Anonymous — Sat, 21 Nov 2015 00:24:49 GMT

Oh, ok I didnt know if it had like a $100k income requirement. Would it be wise to close Marriott if approved for Ritz? Would I lose my points?

Re: Income Requirement For Ritz

Anonymous — Sat, 21 Nov 2015 00:30:12 GMT

oh, most definitely not $100k. I think you're probably fine income-wise.

Last time I read these two are interchangeable, even same membership number. You just call up to chose your "primary" rewards program.

Re: Income Requirement For Ritz

jsucool76 — Sat, 21 Nov 2015 00:36:18 GMT

@Anonymous wrote:
Oh, ok I didnt know if it had like a $100k income requirement. Would it be wise to close Marriott if approved for Ritz? Would I lose my points?

Haha! Definitely not 100k. I make nowhere near that. If you decide to close your marriott card, you points will be safe as long as they have all hit your marriott rewards account. I personally recommend keeping both as they both have different uses worthy of the annual fee. The ritz card will not give you a free annual night, the marriott card will. The marriott card will also give you an elite qualifying night for every 3k spent. Ritz doesn't do that, but ritz gives you a 10% bonus on all points earned through card spend.

Maybe helpful, maybe not : http://ficoforums.myfico.com/t5/Credit-Cards/Comprehensive-Guide-to-Marriott-Ritz-Carlton-Rewards-and-Their/td-p/4100403

Re: Income Requirement For Ritz

Anonymous — Sat, 21 Nov 2015 01:51:53 GMT

Great guide...quick question, if I get the Ritz and keep Marriott, and 90% of the time stay at Marriott, which card would you use?

Re: Income Requirement For Ritz

jsucool76 — Sat, 21 Nov 2015 02:21:00 GMT

I use the ritz card for the 10% bonus points. I don't care too much about the extra EQNs because of the gold status from the ritz.

Re: Income Requirement For Ritz

FinStar — Sat, 21 Nov 2015 03:34:32 GMT

@jsucool76 wrote:
@Anonymous wrote:
Oh, ok I didnt know if it had like a $100k income requirement. Would it be wise to close Marriott if approved for Ritz? Would I lose my points?
Haha! Definitely not 100k. I make nowhere near that. If you decide to close your marriott card, you points will be safe as long as they have all hit your marriott rewards account. I personally recommend keeping both as they both have different uses worthy of the annual fee. The ritz card will not give you a free annual night, the marriott card will. The marriott card will also give you an elite qualifying night for every 3k spent. Ritz doesn't do that, but ritz gives you a 10% bonus on all points earned through card spend.

Maybe helpful, maybe not : http://ficoforums.myfico.com/t5/Credit-Cards/Comprehensive-Guide-to-Marriott-Ritz-Carlton-Rewards-and-Their/td-p/4100403

Good points jsucool. So, I'm planning on hitting up the Marriott for next year, whnever the 80K thingy returns (already have Ritz), you're saying it's advantageous to keep both based on the elite qualifying night option? I've been seen some folks close one or the other to simplify things, no?

Re: Income Requirement For Ritz

jsucool76 — Sat, 21 Nov 2015 03:38:27 GMT

@FinStar wrote:
@jsucool76 wrote:
@Anonymous wrote:
Oh, ok I didnt know if it had like a $100k income requirement. Would it be wise to close Marriott if approved for Ritz? Would I lose my points?
Haha! Definitely not 100k. I make nowhere near that. If you decide to close your marriott card, you points will be safe as long as they have all hit your marriott rewards account. I personally recommend keeping both as they both have different uses worthy of the annual fee. The ritz card will not give you a free annual night, the marriott card will. The marriott card will also give you an elite qualifying night for every 3k spent. Ritz doesn't do that, but ritz gives you a 10% bonus on all points earned through card spend.

Maybe helpful, maybe not : http://ficoforums.myfico.com/t5/Credit-Cards/Comprehensive-Guide-to-Marriott-Ritz-Carlton-Rewards-and-Their/td-p/4100403
Good points jsucool. So, I'm planning on hitting up the Marriott for next year, whnever the 80K thingy returns (already have Ritz), you're saying it's advantageous to keep both based on the elite qualifying night option? I've been seen some folks close one or the other to simplify things, no?

Those are just some differing benefits. I keep it for the annual free night, and nothing else.

Re: Income Requirement For Ritz

FinStar — Sat, 21 Nov 2015 03:40:51 GMT

@jsucool76 wrote:
@FinStar wrote:
@jsucool76 wrote:
@Anonymous wrote:
Oh, ok I didnt know if it had like a $100k income requirement. Would it be wise to close Marriott if approved for Ritz? Would I lose my points?
Haha! Definitely not 100k. I make nowhere near that. If you decide to close your marriott card, you points will be safe as long as they have all hit your marriott rewards account. I personally recommend keeping both as they both have different uses worthy of the annual fee. The ritz card will not give you a free annual night, the marriott card will. The marriott card will also give you an elite qualifying night for every 3k spent. Ritz doesn't do that, but ritz gives you a 10% bonus on all points earned through card spend.

Maybe helpful, maybe not : http://ficoforums.myfico.com/t5/Credit-Cards/Comprehensive-Guide-to-Marriott-Ritz-Carlton-Rewards-and-Their/td-p/4100403
Good points jsucool. So, I'm planning on hitting up the Marriott for next year, whnever the 80K thingy returns (already have Ritz), you're saying it's advantageous to keep both based on the elite qualifying night option? I've been seen some folks close one or the other to simplify things, no?
Those are just some differing benefits. I keep it for the annual free night, and nothing else.

Ok gotcha. Thanks for the insight as always.

Re: Income Requirement For Ritz

Anonymous — Sat, 21 Nov 2015 07:28:12 GMT

@FinStar wrote:
@jsucool76 wrote:
@Anonymous wrote:
Oh, ok I didnt know if it had like a $100k income requirement. Would it be wise to close Marriott if approved for Ritz? Would I lose my points?
Haha! Definitely not 100k. I make nowhere near that. If you decide to close your marriott card, you points will be safe as long as they have all hit your marriott rewards account. I personally recommend keeping both as they both have different uses worthy of the annual fee. The ritz card will not give you a free annual night, the marriott card will. The marriott card will also give you an elite qualifying night for every 3k spent. Ritz doesn't do that, but ritz gives you a 10% bonus on all points earned through card spend.

Maybe helpful, maybe not : http://ficoforums.myfico.com/t5/Credit-Cards/Comprehensive-Guide-to-Marriott-Ritz-Carlton-Rewards-and-Their/td-p/4100403
Good points jsucool. So, I'm planning on hitting up the Marriott for next year, whnever the 80K thingy returns (already have Ritz), you're saying it's advantageous to keep both based on the elite qualifying night option? I've been seen some folks close one or the other to simplify things, no?

https://creditcards.chase.com/a1/marriottpremier/80kphdmofferq4

80K bonus offer, plus 7.5k for adding AU!

Re: Income Requirement For Ritz

Kenro — Sat, 21 Nov 2015 08:05:38 GMT

If you got approved for CSP you`re fine... I got approved for Ritz and denied for CSP.

Re: Income Requirement For Ritz

elim — Sat, 21 Nov 2015 09:47:52 GMT

@Kenro wrote:
If you got approved for CSP you`re fine... I got approved for Ritz and denied for CSP.

You Qualify for CSP i'm sure. Just probably got caught up in their latest "5/24'' rule.

Re: Income Requirement For Ritz

Kenro — Sat, 21 Nov 2015 09:59:55 GMT

@elim wrote:
@Kenro wrote:
If you got approved for CSP you`re fine... I got approved for Ritz and denied for CSP.
You Qualify for CSP i'm sure. Just probably got caught up in their latest "5/24'' rule.

The 5/24 rule didnt apply to me in slightest for some reason... In last month I applied and got approved for 4 cards... 2 of them were in same day. All of them were for Hotel/Airline.

Got refused for CSP before.

Re: Income Requirement For Ritz

Anonymous — Sat, 21 Nov 2015 10:38:15 GMT

I wonder when the 140K points offer will be back..

Re: Income Requirement For Ritz

CreditCuriosity — Sat, 21 Nov 2015 12:54:39 GMT

@Anonymous wrote:
I wonder when the 140K points offer will be back..

It was the 15 or 16 of this last December is when it hit last year. So expecting it to around that time this year. I would say still a good 80-90% chance it will be back.

@OP as others have stated if yo can qualify for 5k and obviously afford the 395$ AF there is no income requirements.. Nothing is special w/regards to that with this card.

Re: Income Requirement For Ritz

Kenro — Sat, 21 Nov 2015 13:22:03 GMT

@CreditCuriousity wrote:
@Anonymous wrote:
I wonder when the 140K points offer will be back..
It was the 15 or 16 of this last December is when it hit last year. So expecting it to around that time this year. I would say still a good 80-90% chance it will be back.

@OP as others have stated if yo can qualify for 5k and obviously afford the 395$ AF there is no income requirements.. Nothing is special w/regards to that with this card.

In all honesty I dont understand why some make big deal of the AF... When I applied for Marriot/Ritz I got combined 210k marriot points, 300$ are travel credit which can be redeemed for flight tickets if you stay around 150$.

At least for me, cards with high AF work out not only to cover the AF but actually save me a lot of money. J.P morgan concierge even managed to find my lost iphone at 4 am in a taxi...

Re: Income Requirement For Ritz

jsucool76 — Sat, 21 Nov 2015 15:04:05 GMT

I'll +1 that.

Between my ritz and marriott signup bonuses, I got 5 nights at the JW Essex House, I got $300 in southwest gift cards, I got $300 in Delta Gift Cards. Used those towards 3 r/t tickets FLL-LGA.

I used a club level upgrade cert for my stay at the ritz pentagon city. Saved me a bit over $100 a night for a 4 night stay. That was over $400 by itself.

Used my loungeclub card to get my sister and I into the escape lounge at london stansted airport. that was $60. Used it for my sister and I at the Sky Lounge in Frankfurt airport which would have cost $75 otherwise.

The cards are truly worth it =]

Re: Income Requirement For Ritz

CreditCuriosity — Sat, 21 Nov 2015 15:53:45 GMT

@Kenro wrote:
@CreditCuriousity wrote:
@Anonymous wrote:
I wonder when the 140K points offer will be back..
It was the 15 or 16 of this last December is when it hit last year. So expecting it to around that time this year. I would say still a good 80-90% chance it will be back.

@OP as others have stated if yo can qualify for 5k and obviously afford the 395$ AF there is no income requirements.. Nothing is special w/regards to that with this card.

In all honesty I dont understand why some make big deal of the AF... When I applied for Marriot/Ritz I got combined 210k marriot points, 300$ are travel credit which can be redeemed for flight tickets if you stay around 150$.

At least for me, cards with high AF work out not only to cover the AF but actually save me a lot of money. J.P morgan concierge even managed to find my lost iphone at 4 am in a taxi...

I agree that the AF is worth it.. Although some people would never pay for it on this card, platinum card, prestige or even the smaller CSP AF. Some people just are against AF's and this is one of the larger ones for a CC. Card isn't meant for everyone as it is a travel card and people need to understand that. When it comes back to the original questions of Income requirements I don't think one could make much use of this card say at 25k-30k annual income unless their employer reimbursed them for travel, etc.