topic Re: Chase Honeymoon in Credit Cards

Chase Honeymoon

drew11 — Fri, 22 Feb 2013 06:58:01 GMT

Hi fellow myFICO members! I am currently engaged and while the wedding/honeymoon will not be until next summer I was thinking that I should be planning on applying for credit cards soon to save up on points to lower the cost of the honeymoon. We were thinking of visiting Hawaii and spending no less than a week there but would love to spend two weeks. By spending two weeks we could visit two islands, specifically Maui and Kauai.

Both of these islands have Hyatt hotels (Category 6 = 22,000 UR points/night) which I've read online is supposedly the best hotel partner affiliated with Chase UR in terms of redemption. Anyways I currently only have a Chase Freedom with ~15,000 UR points and therefore was thinking (along with the fiancé) of applying for a few Chase cards. My Amex BCP 61 days CLI will be on April 1.

After my new CL posts I plan on applying for the Chase CSP (40,0000 bonus). I also read (and was wondering if any of you knew) that you can also apply and be accepted for a small business card despite having just applied for a personal card. Therefore I was also thinking of applying for the Chase Ink Plus (50,000 bonus). My AAoA will be around 18 months, income of $40k, and hopefully my Amex BCP will be around or above a $5k limit at the time of these applications (otherwise that leaves me with the Freedom as the highest limit of $3k).

What are my chances of being approved for both - and I am definitely ok with lowering the CL for my Freedom for the meantime in order for approvals.

Additionally my Fiance will be applying for the Ink Plus as well as the CSP or Freedom (unsure if she will be approved for CSP). And finally, I can always get one of the parents to apply for an Ink/CSP and transfer their UR points into my Hyatt account.

Re: Chase Honeymoon

scenery_guy — Fri, 22 Feb 2013 15:22:28 GMT

My first Chase Ink card required a lengthy call to an analyst who asked very direct questions about my business. How long in business, annual sales for past few years, projected revenue for current year, number of employees. I was approved but my feeling was that I might not have been if it were not for the fact I had a AMEX business card that I used often and was able to give him my monthly spend for past 6 months. He did not ask but I offered it up to show what I *might* be spending with Chase. So who knows if you could get one. I have read stories of people who sell stuff casually on eBay getting a card to keep those expenses separated from personal (that's a sound reason BTW).

I would go for the CSP first. That would get your second line with them in place. Typically your second Chase card has a much better limit than the first. Give it some time and then try for the Ink. BTW you can have multiple Ink cards too - I have the Ink Cash and Ink Bold and netted a cool 70,000 UR points off just those cards sign up offers. Your income might become an issue with all the cards but YMMV.

You have to plan these cards as the spend for bonuses will creep up on you. Double that if your wife is doing the same thing.

Also do you have the Hyatt card from Chase? 2 free nights worldwide signup bonus for $1,000 spend in 3 months looks like it would help you.

Re: Chase Honeymoon

jritch — Fri, 22 Feb 2013 15:41:14 GMT

I agree with apping the Chase Hyatt. 2 nights free at ANY Hyatt property is amazing deal. You can also get $100 statement credit via https://www.hyatt.com/hyatt/chase/ICOffer.jsp

Re: Chase Honeymoon

distantarray — Fri, 22 Feb 2013 17:16:02 GMT

Chase Hyatt x 2 = 4 nights then Chase Priority Club = 1 free night at ANY intercontinental hotel in the world includes even hotels on top of the water in Bora Bora

The best would probably by Amex Starwood. Since you can get points and pay.

Cat 6 8,000 Starpoints + $150

Cat 5 hotels which there's a lot of 4,800 Starpoints + $90

Cat 4 there's one in Hawaii 4,000 Starpoints + $60

Most likely you'll use Cat 5 hotels for your cities, and if you do that's 30k points (25k bonus + 5k minimum spend) if you both get one that's 60,000 points that's effectively good enough for 12 nights for $1,080 at a Category 5 Sheraton.

In Sheraton Maui (cat 5) rooms run as much as $599 a night so 4,800 points could be worth as much as 10 cents per point.

Re: Chase Honeymoon

drew11 — Sat, 23 Feb 2013 05:04:14 GMT

Hey guys thanks for the information and I have definitely have thought about the concerns over the minimum spending. I forgot to mention it in my first post but I was trying to shy away from specific hotel cards such as the Hyatt and SPG because after this honeymoon I won't be traveling for awhile.

Therefore I was leaning towards applying for cards that I can keep in the long run and use daily (Freedom for 5% rotating, CSP for 2x travel/dining and to transfer to partners, and Ink for 5x phone/office supplies/etc.). Also after applying to the CSP and possibly the Ink I am unsure of how likely Chase would be to approve me for the Hyatt card as well.

Correct me if I'm wrong but if we were to both apply for the Amex SPG we would have enough points for a 12 night stay at a Category 5 Sheraton in Maui? My only concern would be after the first year should I continue to pay the AF to accumulate points for my next vacation (some time down the road), downgrade/PC the SPG, or cancel the card?

Re: Chase Honeymoon

distantarray — Sat, 23 Feb 2013 13:50:56 GMT

@drew11 wrote:
Hey guys thanks for the information and I have definitely have thought about the concerns over the minimum spending. I forgot to mention it in my first post but I was trying to shy away from specific hotel cards such as the Hyatt and SPG because after this honeymoon I won't be traveling for awhile.

Therefore I was leaning towards applying for cards that I can keep in the long run and use daily (Freedom for 5% rotating, CSP for 2x travel/dining and to transfer to partners, and Ink for 5x phone/office supplies/etc.). Also after applying to the CSP and possibly the Ink I am unsure of how likely Chase would be to approve me for the Hyatt card as well.

Correct me if I'm wrong but if we were to both apply for the Amex SPG we would have enough points for a 12 night stay at a Category 5 Sheraton in Maui? My only concern would be after the first year should I continue to pay the AF to accumulate points for my next vacation (some time down the road), downgrade/PC the SPG, or cancel the card?

The Starwood card has a ridiculously low annual fee, and I wouldn't worry about it at all it's only $69 a year. And if your worrying about minimum spending your still a young grasshopper pm me if you want tips to hit your minimum spending

and Amex sync allows you to get free annual fees with Starwood. For instance small business saturday , day after thanksgiving. Spend $25 at a small business you get $25 back instantly so it's free. Then other deals like spend $50 at Amex get $25 back. There are great deals with Amex Sync every couple months $40 amex gift cards for $50 etc then there are more tricks to use. I got $500 from amex last year from sync alone =)

Re: Chase Honeymoon

drew11 — Tue, 26 Feb 2013 19:30:52 GMT

Thanks for the help! Seeing as we are going to be visiting Maui I would definitely love to stay at the new Hyatt Andaz that is opening this spring. It looks like it will be a Category 6 so that will be 22,000 UR points/night. Let me know if this plan needs any adjustments/incorrect:

After our Amex BCP CLI (hopefully to around $5k) on April 1, my fiance and I will apply for the Chase CSP. If approved, I will also go on to apply for the Chase Ink Bold.

-2 Chase CSP - 40,000 sign up bonus + 3000 points (to meet minimum spend)

-1 Chase Ink Bold - 50,000 sign up bonus + 5000 points (to meet minimum spend)

-Currently have ~15,000 points on Chase Freedom

Total UR Points = 156,000 points

156,000 points can get me 5 free nights with 46,000 points leftover to be applied to United Airline for the tickets (I think I read somewhere that it was 80,000 UR points for 2 round trip tickets to HI from NY).

We will also be applying for the Amex SPG each. Since we were approved, separately, for the Amex BCP on January 21 when should we apply for the Amex SPG (after our CLI on April 1, after applying for Chase cards, etc.)?

-2 Amex SPG - 25,000 sign up bonus + 5000 (to meet minimum spend)

Total Starwood Points = 60,000 points

60,000 points (for a Category 5 hotel) are good 3 nights (16,000/night) or 12 nights + $1080 (using the Cash & Points option). Would it be possible to pay for 3 nights with just points (3 nights = 48,000 points) and then for the last 2 nights use the C&P option (2 nights = 9600 points + $180)? This option would leave me with 2,400 points leftover.

Re: Chase Honeymoon

webhopper — Tue, 26 Feb 2013 19:56:54 GMT

Keep in mind that SPG can be Product Changed into something else after you no longer need it for Star Points.

If it were me, thats the route I would go.

Re: Chase Honeymoon

drew11 — Tue, 26 Feb 2013 20:00:37 GMT

Yes, after the first year if I feel that I will not be needing it and/or cannot make up for the AF I was planning on converting it into something with no AF. Just wondering, what exactly could the SPG be PCed to?

Re: Chase Honeymoon

webhopper — Tue, 26 Feb 2013 21:36:31 GMT

It can be PCed to any of these revolvers

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Re: Chase Honeymoon

drew11 — Wed, 27 Feb 2013 06:01:51 GMT

Oh wow that's awesome! I had no idea it could be PCed to all of those!

I didn't look at the list too closely but it seems like I would PC it to a Costco TrueEarnings card seeing as I am planning on being a member there anyways. It's interesting that the Amex SPG can be changed to the Amex TU but I've been told that the Amex BCP cannot (even though the Amex SPG could be PCed to the Amex BCP also).

Re: Chase Honeymoon

drew11 — Thu, 28 Feb 2013 18:20:14 GMT

Just two quick questions:

1) Is it possible to pay for 3 nights using only Starwood points and then the last two nights with the Cash & Points option?

2) After my Amex BCP 61 day CLI on April 1, how soon and in which order should I apply for the Amex Starwood, Chase CSP and Chase Ink Bold?