topic Re: Travel points dilemma, CSP vs any other card in Credit Cards

Travel points dilemma, CSP vs any other card

gen-specific — Sat, 20 Apr 2013 16:26:40 GMT

Hello

I have a dilemma, and basically it is the fact that I don't have a specific "travel rewards" card, and I'm not sure if my credit card portfolio would even benefit from having one.

I have CSP which is a great card for POINTS, where points get racked up on buying travel related things, but the points themselves are not exclusively better for being used on travel.

Yet, right now, on CSP and other cards I have enough points for several flights and packages. So this generates a little bit of irony being that my spsending habits might support this going forward into the foreseeable futures. Where I spend enough on things to have enough points for travel.

That being said, do I need a travel card (in my portfolio, don't worry about credit score)? One that gets me even better rewards (than CSP) based on how many miles I travelled?

Given what I've mentioned, what would be a better one, the one from TD Bank? or is having CSP simply good enough

Re: Travel points dilemma, CSP vs any other card

Cdnewmanpac — Sat, 20 Apr 2013 16:46:44 GMT

I'm a little confused as to what you are looking for: the way to get value from the CSP is to convert your UR points to miles through one of their partner airlines or gold passport points through hyatt. You should not use them to book flights directly through UR travel unless none of the partner airlines will work.

For example, you could transfer 40k points to United and redeem those points for a round trip saver award to hawaii. For me, those tickets during peak can run >$800/ticket, so I'm getting 2 cents per point redemption value.

Since I get 2.14 points for dollar spent ON travel and can use those points for travel redemptions with a value of around 2 cents per point, I'm getting a little over 4 cents back per dollar spent. I'm not aware of another travel card, whether airline specific or something like the citi thank you series or cap 1 venture that beats the CSP for travel spending.

Re: Travel points dilemma, CSP vs any other card

Anonymous — Sat, 20 Apr 2013 16:51:29 GMT

@gen-specific wrote:
Hello

I have a dilemma, and basically it is the fact that I don't have a specific "travel rewards" card, and I'm not sure if my credit card portfolio would even benefit from having one.

I have CSP which is a great card for POINTS, where points get racked up on buying travel related things, but the points themselves are not exclusively better for being used on travel.

Yet, right now, on CSP and other cards I have enough points for several flights and packages. So this generates a little bit of irony being that my spsending habits might support this going forward into the foreseeable futures. Where I spend enough on things to have enough points for travel.

That being said, do I need a travel card (in my portfolio, don't worry about credit score)? One that gets me even better rewards (than CSP) based on how many miles I travelled?

Given what I've mentioned, what would be a better one, the one from TD Bank? or is having CSP simply good enough

1. How do you figure this? Have to looked into transferring your points to Utlimate Rewards airline partners (e.g. United, Southwest) and redeeming that way? People can often get very good value out of that.

2. Did you have any in mind? You mentioned a TD Bank card, which I assume is the First Class. It's true that you get 3x points vs. 2x point on the CSP, but the max value of those is 1 cent per point. Transferring points to United, for example, you can get 2+ cents per point for flights.

The other thing is that is popular is to pair up the CSP with the Freedom, which also earn UR points. Since the Freedom earns 5x UR points on different categories, you can accumulate UR points fairly quickly.

EDIT: Looks like cdnewmanpac is on it.

Re: Travel points dilemma, CSP vs any other card

gen-specific — Sat, 20 Apr 2013 17:49:29 GMT

@Anonymous wrote:

The other thing is that is popular is to pair up the CSP with the Freedom, which also earn UR points. Since the Freedom earns 5x UR points on different categories, you can accumulate UR points fairly quickly.

Okay, I'm not exactly sure how to do this and what people are referring to. Are you saying that people are just applying for CSP and Freedom, using the Freedom on some categories and the CSP on others, transferring points between those cards and to airlines?

Secondly, do I need individual accounts with those airlines to take advantage of airline specific offers?

Re: Travel points dilemma, CSP vs any other card

sarkell — Sat, 20 Apr 2013 18:05:58 GMT

Okay I got csp for very purpose of getting free hotel stays. It will become my card for online shopping, eating out etc. I stay at hyatt so I find rewards good. I spend enough easily to cover $95 fee I believe well see how I feel in a year. Better than 1% back. Ill be spending 1000-1500/ month easily 3k points at 36k a year. Then 2500 bonus or so. 40k points easily earns 4 nights at hyatts for me. $400 value. For spending 15k lets say. If I spend more more advantage.

Re: Travel points dilemma, CSP vs any other card

Cdnewmanpac — Sat, 20 Apr 2013 18:08:28 GMT

@gen-specific wrote:
Okay, I'm not exactly sure how to do this and what people are referring to. Are you saying that people are just applying for CSP and Freedom, using the Freedom on some categories and the CSP on others, transferring points between those cards and to airlines?

Yes, you can transfer the points you earn with a freedom to your CSP Ultimate Rewards account. Then, you transfer those points to any of the airline, hotel or train partners at 1:1 ratio. You would not want to transfer points FROM CSP to Freedom, just the other direction.

Secondly, do I need individual accounts with those airlines to take advantage of airline specific offers?
Yes, but these are free. You can create a mileageplus account with United, a Rapid Rewards account with Southwest and a gold passport account with Hyatt to start. There are other partners, but for a beginner those are the three to start with. You then find a reward ticket you want (or hotel booking), then transfer from your chase UR account to the partner account, then use those points for your ticket or hotel.
Simple example: You want to fly from Houston to Los Angeles. You go to southwest.com and fill in your cities and dates. When the list of flights comes up, there will be a "pay with points" button. Hit that and it will tell you how many points each way. You then transfer that many points from chase ultimate rewards to southwest rapid rewards. Once the points are available on southwest, you book the ticket. Southwest "wanna get away" fares are roughly 1.8 cents per point, so a decent redemption.

United is a bit more complicated, as you have saver and standard awards that have a fixed number of points based on destinations. So all domestic travel is 25k points for saver award round trip. These are generally not good redemptions, but if you need to get to Seattle and you don't want to spend cash, this works. The best redemptions are for business or first class flights to Europe and Asia, but only if you would otherwise be willing to spend the cash for those tickets.

Hyatt is also a nice way to redeem your points. You find the hotel you want to stay at, choose the points option and it will show how many points per night are required. We are staying at the Hyatt Key West resort this summer for 22k points/night. The daily rate was $395/night.

These are just examples, but it is this flexibility that makes the CSP such a popular card for travelers.

Re: Travel points dilemma, CSP vs any other card

kibarrow — Sat, 20 Apr 2013 18:33:44 GMT

I can't say this is an easy one Sarkell... But I think I see the dilemma. The easy answer would be match the "travel" card/airline to where you live. Ex... I live in ATL. That's the hub of Delta. If you are in AA's or United... (Florida or NJ etc) then go with the respective.
You are absolutely correct.... The CSP, which I have is awesome for all around points that are "flexible". However... Nothing will match an AA cc, or United, in my case Delta Plat Amex, for the intr points and Gold Status immediately and double the points, for united and and AA, their cards vary.
I hope that helps?? :-(

Re: Travel points dilemma, CSP vs any other card

scenery_guy — Sat, 20 Apr 2013 18:44:51 GMT

You will know when it's time to have a specific travel credit card (airline or hotel). Until then keep on the path that you are on and build points on cards that transfer for travel. It sounds like you already understanding maximizing spending on a card or two for point accumulation. The downside to having many travel related credit cards (multiple airline and hotel) is that you can't really concentrate all of your spending on one card, it spreads across all of the cards and to an extent dilutes the points or miles across multiple programs. If you spend $300K to $400K a year on cards it's not too bad as you can spread that spend across many cards and stil see accumulation levels that reward you with a few free nights and a few flights per year. If you spend $40K a year it's better spend on one card.

While it's good to get cards for airlines or hotels you frequently use, you better use them a lot to receive the benefits and perks associated with the AF.

Re: Travel points dilemma, CSP vs any other card

kibarrow — Sat, 20 Apr 2013 18:50:03 GMT

"The downside to having many travel related credit cards (multiple airline and hotel) is that you can't really concentrate all of your spending on one card, it spreads across all of the cards and to an extent dilutes the points or miles across multiple programs."
YEP!!!! Correct.
I was just addressing that dilemma today.
BoA Travel card/ CSP/ but use Delta Amex for flights... And decided to keep it all in one place for remainder of the year. But ya just can't beat having ONE airline card. Not for all travel... Just airline because with the demotion of lots of point systems the right card can keep you out of cattle class. That's my ONLY reason for that Amex... To keep GOLD Sky Priority status.
Other than that... 100% agreement... Don't spread too thin, aim with a little more focus to maximize points.

Re: Travel points dilemma, CSP vs any other card

kibarrow — Sat, 20 Apr 2013 18:51:54 GMT

Man you guys are helpful. 2.5 year ago...I'd be saying WTH are they even talking about?
Very insightful info.
Thx.

Re: Travel points dilemma, CSP vs any other card

Open123 — Sat, 20 Apr 2013 19:13:19 GMT

scenery_guy wrote: If you spend $40K a year it's better spend on one card.

Unless one is racking up points from rotating spend for sign-up bonuses, it is always best to place *all* spending on a single travel card of choice (favorite hotel or airline) for maximum leverage.

Re: Travel points dilemma, CSP vs any other card

webhopper — Sat, 20 Apr 2013 19:28:05 GMT

@kibarrow wrote:
"The downside to having many travel related credit cards (multiple airline and hotel) is that you can't really concentrate all of your spending on one card, it spreads across all of the cards and to an extent dilutes the points or miles across multiple programs."
YEP!!!! Correct.
I was just addressing that dilemma today.
BoA Travel card/ CSP/ but use Delta Amex for flights... And decided to keep it all in one place for remainder of the year. But ya just can't beat having ONE airline card. Not for all travel... Just airline because with the demotion of lots of point systems the right card can keep you out of cattle class. That's my ONLY reason for that Amex... To keep GOLD Sky Priority status.
Other than that... 100% agreement... Don't spread too thin, aim with a little more focus to maximize points.

Exactly.. this is why all of my spending goes onto the PRG, so that I can concentrate my points.. On rare occasion where Amex is not accepted, I use my Chase card, or my Discover card. In some cases I've used discover to get 5% cash back.

I redeem Amazon points for either cash, or amazon credit towards purchases. I redeem Discover points as cash back... so basically I have 3 cards that I redeem for cash back, and I have 1 card that accumulates points to redeem for travel.

I also like the idea of concentrating all spending ona 2% card, such as FIA Amex, where the 2% goes into a retirement account.. As I get older, I may go towards something like that, but for now I want my rewards to be more immediate in nature...

Re: Travel points dilemma, CSP vs any other card

sarkell — Sat, 20 Apr 2013 20:20:43 GMT

No I agree but since I use for hyatt csp makes the most sense for me personally.

Re: Travel points dilemma, CSP vs any other card

scenery_guy — Sat, 20 Apr 2013 20:40:24 GMT

@Open123 wrote:
scenery_guy wrote: If you spend $40K a year it's better spend on one card.
+1

Unless one is racking up points from rotating spend for sign-up bonuses, it is always best to place *all* spending on a single travel card of choice (favorite hotel or airline) for maximum leverage.

Agreed.

For instance I fly Delta almost all the time. I fly quite a bit but wanted a bump in MQM to raise my status so a co branded Delta card made sense. I picked up the Platinum last year because I got a nice MQM bonus for signup. I also received 10K MQM for spending $25,000 on the card in 2012. This year I have already received the 10K MQM and I am getting close to another 10K MQM once I hit $50K spent on the card. Once I hit $50K spend for 2013 on this card it goes in the sock drawer - or I cancel it so I can wait 12 months to get the same card (with signup bonus) again. As the little girl in the AT&T commercials says "but I want more" I also got the Delta Reserve for Business end of last year as it had a nice signup bonus. I also will earn 15K MQM for $30K spend and another 15K MQM at $60K spend in 2013. Seems excessive but I have no problem spending $110,000 on these two cards (mostly business spend BTW).

Re: Travel points dilemma, CSP vs any other card

kibarrow — Sat, 20 Apr 2013 20:42:00 GMT

Why am I as happy reading these responses as I am virtualizing my servers (shhhhhh, don't tell anyone.)

The spending all in one place to maximize is definitely the route I'm going starting this month. I've already hit the Air status (Gold) and hotel (Hilton Diamond) so it makes sense to concentrate the rewards.
I do wish CSP was a partner with Delta and Hilton like they are with Marriott.

What's your thoughts(anyone pls chime in) on the partnerships CSP has? Should the list be more vast?

Re: Travel points dilemma, CSP vs any other card

kibarrow — Sat, 20 Apr 2013 20:44:10 GMT

Scenery_guy,

Exactly!

Re: Travel points dilemma, CSP vs any other card

Revelate — Sat, 20 Apr 2013 20:47:29 GMT

@kibarrow wrote:
Why am I as happy reading these responses as I am virtualizing my servers (shhhhhh, don't tell anyone.)

The spending all in one place to maximize is definitely the route I'm going starting this month. I've already hit the Air status (Gold) and hotel (Hilton Diamond) so it makes sense to concentrate the rewards.
I do wish CSP was a partner with Delta and Hilton like they are with Marriott.

What's your thoughts(anyone pls chime in) on the partnerships CSP has? Should the list be more vast?

It's difficult to negotiate more than one special relationship in any given vertical.

Take pretty much any example, you'll find something like one TV partner, one financial partner, one wireless partner, one this, that or the other partner.

As there are fewer premier credit card issuers than airline and hotel vendors, typically each airline and hotel vendor would select one financial institution; however, it means that while the agreement lasts, AA is firmly in Citi's camp, Southwest in Chase's, and Delta with Amex. If your airline and hotels of choice aren't covered by your current travel card, either switch travel cards, or switch your preferences for flights and locations .

Re: Travel points dilemma, CSP vs any other card

kibarrow — Sat, 20 Apr 2013 20:51:31 GMT

Indeed... I hear ya.
I mixed the two.... ONLY until I reach the status I need which is usually in the 1st Qtr. now that I've behaved financially and can utilize a flexible card such as CSP with a decent CL... It's CSP from here on out for the rest of yr.
I wish I could debate your comments (I do!) but they make sense.

To the original thread... "CONGRATS" to all who were approved.
Keep posting your findings with your card.

Re: Travel points dilemma, CSP vs any other card

scenery_guy — Sat, 20 Apr 2013 22:18:07 GMT

@kibarrow wrote:
Why am I as happy reading these responses as I am virtualizing my servers (shhhhhh, don't tell anyone.)

The spending all in one place to maximize is definitely the route I'm going starting this month. I've already hit the Air status (Gold) and hotel (Hilton Diamond) so it makes sense to concentrate the rewards.
I do wish CSP was a partner with Delta and Hilton like they are with Marriott.

What's your thoughts(anyone pls chime in) on the partnerships CSP has? Should the list be more vast?

You can get from CSP to Delta but it's a bit of work. Select Korea Air as the transfer partner and move the miles there. They are a member of SkyTeam so you can use miles on Korea Air to book Delta rewards flights.

Not the best use for UR points but if you are in a pinch it's 1:1 and instant.

I an fine with current arrangement with transfer partners on Chase cards.

Re: Travel points dilemma, CSP vs any other card

Cdnewmanpac — Sun, 21 Apr 2013 00:39:40 GMT

You can also go csp 1:1 virgin Atlantic 1:2 hilton, but you would generally do better just booking a room through ur travel for the point bonus.