topic Re: Is Chase Trifecta right for me? in Credit Cards

Is Chase Trifecta right for me?

ibebarrett — Thu, 23 May 2019 04:24:52 GMT

So I've done a good bit of research and plan on pursuing the trifecta, but I'm curious what the forum thinks about my situation. I've seen a lot of people say it's not worth it if you don't travel a lot, but traveling "a lot" or "not a lot" is quite vague. I usually fly home 1-2 times per year with my girlfriend and our dog and I would love to start travelling for close to free, and the UR program seems to be a good fit for me, but if anyone feels like a better card layout would work better please let me know! We usually rent cars a few times every year, so the LDW coverage with CSP is a nice bonus in addition to the broad UR travel categories. Also, can anyone confirm if my gf would be able to trade her UR's to my CSP?

Current Rewards Cards:

Costco Citi (costco/gas)

Capital One QS (open to PC, otherwise some random recurring bill, I'd trash it but it's second oldest account)

Chase FU (all other spending until SUB period is over)

Planned Cards(in order):

Ink (I need it for business anyway, but can't I transfer Ink URs to my CSP?)

CSP(transit, tolls, uber, car rental, flights, parking, hotels)

Freedom

Does anyone have concerns or better ideas as far as card layout? I do not have plans to get any more than 3 new cards over the next ~year before hitting the garden for a couple years to prepare for a mortgage in ~3years.

Thanks in advance!

Re: Is Chase Trifecta right for me?

Aim_High — Thu, 23 May 2019 15:37:30 GMT

I have the "Chase Quadfecta" now ... which consists of either CSR or CSP + FU + F + INK business.

I think it's a great strategy!

Mine is the Sapphire Reserve, FU, F, and INK Business Preferred right now because I wanted the 80K sign-up bonus.

I plan to convert the INK BP to the INK Business Cash which has no AF and higher cash-back in categories I will use.

Yes, you can convert INK UR points to your personal card, so you'd want to combine them all on the CSP where they'd be worth 25% more.

With just traveling a couple of times per year, the CSP might be a good starter card for you. If you think you can take advantage of the added benefits, you can do a PC with Chase later to the CSR. *Keep in mind, though, that you get a LOT more back on that steep $450 AF with the CSR, so the price difference may be less than you think. You get your first $300 back automatically in travel purchases every year alone, so that lowers it to a $150 fee before you even allow for everything else! All UR points combined on the CSR are worth 50% more value.

Re: Is Chase Trifecta right for me?

bourgogne — Thu, 23 May 2019 06:57:13 GMT

if the plan is to bag a sapphire and ink you might want to sort your utilization if that is what is holding your scores down. it will impact your sl's. 720+ is where you want to be when you app imo. re referrals you can 20k 5x a year with the CIP. chase is for someone that does not care about draining every point out of a purchase, they are for someone that wants easy. imo

Re: Is Chase Trifecta right for me?

K-in-Boston — Thu, 23 May 2019 13:55:16 GMT

You can transfer UR points to anyone else in your household. For business cards, URs can be transferred to another owner of the company or to your personal accounts.

If you're flying with a companion at least once or twice a year, the CSR would likely end up being more rewarding than CSP. Your scores will need to come up for either of those, though.

Re: Is Chase Trifecta right for me?

ibebarrett — Thu, 23 May 2019 13:58:22 GMT

@Aim_High wrote:
I have the "Chase Quadfecta" now ... which consists of either CSR or CSP + FU + F + INK business.

I think it's a great strategy!

Mine is the Sapphire Reserve, FU, F, and INK Business Preferred right now because I wanted the 80K sign-up bonus.

I plan to convert the INK BP to the INK Business Cash which has no AF and higher cash-back in categories I will use.

Yes, you can convert INK UR points to your personal card, so you'd want to combine them all on the CSP where they'd be worth 25% more.

With just traveling a couple of times per year, the CSP might be a good starter card for you. If you think you can take advantage of the added benefits, you can do a PC with Chase later to the CSR. *Keep in mind, though, that you get a LOT more back on that steep $450 AF with the CSR, so the price difference may be less than you think. You get your first $300 back automatically in travel purchases every year alone, so that lowers it to a $150 fee before you even allow for everything else! All UR points combined on the CSR are worth 50% more value.

I don't think you can combine UR points from another person's credit accounts. I think you would have to be primary cardholder on both accounts (from and to the transfer.)

Yeah if I go for the trifecta I would definitely PC from CSP to CSR and just continue to rack up URs until I PC. I easily spend a minimum $300/yr on travel so out of those 2 options I would definitely plan to end on CSR.

Unfortunately Ink Cash doesn't line up with my spending and my spending is right on the line between Unlimited/Preferred, so I haven't decided which one there yet though.

Thanks!

Re: Is Chase Trifecta right for me?

ibebarrett — Thu, 23 May 2019 16:12:22 GMT

@bourgogne wrote:
if the plan is to bag a sapphire and ink you might want to sort your utilization if that is what is holding your scores down. it will impact your sl's. 720+ is where you want to be when you app imo. re referrals you can 20k 5x a year with the CIP. chase is for someone that does not care about draining every point out of a purchase, they are for someone that wants easy. imo

I had a couple big expensives lately and new cards, the plan is to wait around 3-4 more months and get util below 8.9%(its currently right above 30%), so I should be pretty close to 720 at that point(my bankcard scores are currently at/above 700). I don't understand what your saying about 20k 5x a year with CIP can you elaborate? If I was trying to get the best bang for my buck what line up would you reccomend over the trifecta?

Thanks!

Re: Is Chase Trifecta right for me?

ibebarrett — Thu, 23 May 2019 14:04:24 GMT

@K-in-Boston wrote:
You can transfer UR points to anyone else in your household. For business cards, URs can be transferred to another owner of the company or to your personal accounts.

If you're flying with a companion at least once or twice a year, the CSR would likely end up being more rewarding than CSP. Your scores will need to come up for either of those, though.

I planned to end on CSR but may as well take the CSP bonus, and I'm sure I have a better chance of being approved for CSP initially. I just had a couple big expenses pop up, so in the next few months I should be back below 8.9% and have aged my new cards a little bit.

How is household defined? We live together and share expenses just not married.

Thanks!

Re: Is Chase Trifecta right for me?

Anonymous — Thu, 23 May 2019 14:18:51 GMT

Why would you get a freedom when you already have a FU? I would personally optimize your scores, get the CSR, then consider the ink later once you’ve finished the SUB.

Re: Is Chase Trifecta right for me?

K-in-Boston — Thu, 23 May 2019 14:27:51 GMT

Household is defined as sharing an address for at least 30 days.

As for having a Freedom if one already has the Freedom Unlimited, that's easy. If someone can max out the quarterly categories, that's 30,000 UR points for only $6,000 spend (rather than 9,000 on Freedom Unlimited), which would be $375 or $450 redeeming through the portal with a CSP or CSR, or potentially much more with a transfer to a hotel or airline partner.

Re: Is Chase Trifecta right for me?

Anonymous — Thu, 23 May 2019 14:47:19 GMT

Right, I just think it’s superfluous given his credit profile, but who knows.

Re: Is Chase Trifecta right for me?

Anonymous — Thu, 23 May 2019 15:05:18 GMT

@ibebarrett wrote:
I planned to end on CSR but may as well take the CSP bonus, and I'm sure I have a better chance of being approved for CSP initially. I just had a couple big expenses pop up, so in the next few months I should be back below 8.9% and have aged my new cards a little bit.

Just know that you won't be able to upgrade to a CSR for a year. Its due to federal regulations so no getting around that. Also, you'll need a minimum $10k limit because the CSR is a Visa Infinite.

Re: Is Chase Trifecta right for me?

ibebarrett — Thu, 23 May 2019 15:29:36 GMT

@Anonymous wrote:
Right, I just think it’s superfluous given his credit profile, but who knows.

The freedom would just be for the quarter bonuses, 7.5% return after xfer to CSR racks up, it seems to be a viable route, why do you think it's over the top? And why would you reccomend CSP first then Ink? the only reason I planned on Ink first is business reasons, and I work pretty hard to keep my business and personal money seperate, so I don't see how that would really have an effect on SUB.

Re: Is Chase Trifecta right for me?

ibebarrett — Thu, 23 May 2019 15:21:59 GMT

@K-in-Boston wrote:
Household is defined as sharing an address for at least 30 days.

As for having a Freedom if one already has the Freedom Unlimited, that's easy. If someone can max out the quarterly categories, that's 30,000 UR points for only $6,000 spend (rather than 9,000 on Freedom Unlimited), which would be $375 or $450 redeeming through the portal with a CSP or CSR, or potentially much more with a transfer to a hotel or airline partner.

At $1500/quarter I doubt it would be that hard to max it out depending on the quarter at all, thanks for the help!

Re: Is Chase Trifecta right for me?

ibebarrett — Thu, 23 May 2019 15:24:22 GMT

@Anonymous wrote:
@ibebarrett wrote:
I planned to end on CSR but may as well take the CSP bonus, and I'm sure I have a better chance of being approved for CSP initially. I just had a couple big expenses pop up, so in the next few months I should be back below 8.9% and have aged my new cards a little bit.

Just know that you won't be able to upgrade to a CSR for a year. Its due to federal regulations so no getting around that. Also, you'll need a minimum $10k limit because the CSR is a Visa Infinite.

Yeah that's why I figured I'd go for the CSP and build up to the CSR even if it means reallocating some SL, and a year wait is more than fine, I'll just keep racking up those URs until then! thanks for the heads up though!

Re: Is Chase Trifecta right for me?

Aim_High — Thu, 23 May 2019 15:54:58 GMT

@ibebarrett I don't understand what your saying about 20k 5x a year with CIP can you elaborate?”

“...@bourgogne wrote: “...re referrals you can 20k 5x a year with the CIP”

Chase sometimes offers referral bonuses where you can earn UR points for up to five referrals per year.

The applicant has to use a link you provide to them for the application and of course they have to be approved.

Re: Is Chase Trifecta right for me?

ibebarrett — Thu, 23 May 2019 15:59:54 GMT

@Aim_High wrote:
@ibebarrett I don't understand what your saying about 20k 5x a year with CIP can you elaborate?”
“...@bourgogne wrote: “...re referrals you can 20k 5x a year with the CIP”

Chase sometimes offers referral bonuses where you can earn UR points for up to five referrals per year.

The applicant has to use a link you provide to them for the application and of course they have to be approved.

Oh duh, idk how I missed that but wow I didn't know it was that high for CIP! I just don't know enough business owners anyway, but I did do that for an FU, just waiting on the bonus to drop!

Re: Is Chase Trifecta right for me?

Anonymous — Thu, 23 May 2019 16:11:54 GMT

I mean, getting the ink is fine, but the inquiry will decrease your score a bit and the CSR is the hardest to get. That’s why I thought it’d be best to get the CSR/CSP first.

Re: Is Chase Trifecta right for me?

Aim_High — Thu, 23 May 2019 16:26:31 GMT

@mystere3 “…Why would you get a freedom when you already have a FU?”

I had a Freedom Unlimited and I applied for the Freedom, and was approved.

CFU is great for when the rotating categories don’t fit your purchase patterns. But for spending within the quarterly categories, you lose out on 3.5% on $6,000 per year if you only carry the CFU versus carrying both and maxing out the CF quarterly categories. (1.5% versus 5% on up to $1500 per quarter spending in that category.)

That could add up to an extra FREE $210 per year, equal to 21,000 UR points, just for using the Freedom where it pays out best.

Put in another context, over 10 years use, that could add up to $2,100 free money, assuming you are not just generating additional spending to meet the requirements!

This strategy is really only for people who don't mind dealing with the inconvenience of rotating quartely categories and having to keep changing which card they reach for or carry in their wallet. I'm not a huge fan of the rotating category concept and having cards that cap how much they will pay out in a category before they pay only a standard 1%, but in the case of Chase URs it seemed worth it. (I have the CSR so my UR points are worth 50% more when combined on my CSR account. Those 5% payouts on the Chase Freedom are now effectively worth 7.5%! Or put another way, that $210 extra per year is now worth $315 per year when rolled to my CSR UR points. So over 10 years, they could give me an extra $3,150.)

Re: Is Chase Trifecta right for me?

ibebarrett — Thu, 23 May 2019 16:15:47 GMT

@Anonymous wrote:
I mean, getting the ink is fine, but the inquiry will decrease your score a bit and the CSR is the hardest to get. That’s why I thought it’d be best to get the CSR/CSP first.

Yeah I planned to app for CSP and in a year pc to CSR. My reasoning for Ink first was because I figured the AAoA dropping due to new csp would have more impact on ink app than the inq for ink app would have on csp app....does that make sense? I figured the hidden tradeline first would be better, am I wrong here?

Re: Is Chase Trifecta right for me?

ibebarrett — Thu, 23 May 2019 16:20:26 GMT

@Aim_High wrote:
@mystere3 “…Why would you get a freedom when you already have a FU?”

I had a Freedom Unlimited and I applied for the Freedom, and was approved.

CFU is great for when the rotating categories don’t fit your purchase patterns. But for spending within the quarterly categories, you lose out on 3.5% on $6,000 per year if you only carry the CFU versus carrying both and maxing out the CF quarterly categories. (1.5% versus 5% on up to $1500 per quarter spending in that category.)

That could add up to an extra FREE $210 per year, equal to 21,000 UR points, just for using the Freedom where it pays out best.

Put in another context, over 10 years use, that could add up to $2,100 free money, assuming you are generating additional spending to meet the requirements!

This strategy is really only for people who don't mind dealing with the inconvenience of rotating quartely categories and having to keep changing which card they reach for or carry in their wallet. I'm not a huge fan of the rotating category concept and having cards that cap how much they will pay out in a category before they pay only a standard 1%, but in the case of Chase URs it seemed worth it. (I have the CSR so my UR points are worth 50% more when combined on my CSR account. Those 5% payouts on the Chase Freedom are now effectively worth 7.5%! Or put another way, that $210 extra per year is now worth $315 per year when rolled to my CSR UR points. So over 10 years, they could give me an extra $3,150.)

That's pretty much how I envisioned my plan, rotating categories are definitiely extra effort, but the UR system seems to really make it worth it in my situation. If it weren't for UR system I'd go with a much more diverse cash back card system across more intsitutions as opposed to the trifecta. Until my girlfriend and I finish college every dollar counts, and we live on the opposite side of the country from our family, so I'm really just trying to be able to more easily afford trips home.