topic Questions for PRG holders in Credit Cards

Questions for PRG holders

Anonymous — Sun, 13 Oct 2013 02:22:26 GMT

Have you kept it long enough to pay the annual fee? If not, are you planning on paying the annual fee? What do you use your MR points for?

After not getting a MR signup bonus, I'm really torn on whether to keep the card or not. I like it a lot, and most of my spending is on gas and groceries, but my stable is growing in AF cards.

Re: Questions for PRG holders

09Lexie — Sun, 13 Oct 2013 02:28:25 GMT

Yes. I've used mine for travel -Delta and gift cards.

Re: Questions for PRG holders

Anonymous — Sun, 13 Oct 2013 02:38:19 GMT

@Anonymous wrote:
Have you kept it long enough to pay the annual fee? If not, are you planning on paying the annual fee? What do you use your MR points for?

After not getting a MR signup bonus, I'm really torn on whether to keep the card or not. I like it a lot, and most of my spending is on gas and groceries, but my stable is growing in AF cards.

I don't have a PRG.

It's hard to say whether it's worthwhile for you to keep it. Only you can answer this question.

The best way to utilize MR points is to transfer them to the partners, such as airlines and hotels. You will get the highest possible point value that way. However, if you don't travel, then I suppose you can redeem it for gift cards and such, which puts it at 1 cent per point (1% base, 2% for gas and supermarket, 3% airline). Not exactly a good deal especially when the AF is factored in. I would recommend you cancel and get other cards then.

For gas and groceries, the BCP is your best option. 6% for groceries (6k cap), 3% for gas. There's an AF, but if you spend quite a bit on groceries it's easily worth the money.

The Amazon visa is no limit 2% for gas, groceries, restaurants and 3% for amazon.

And there's also Sallie Mae, which is 5% for first 250 in gas, 250 in groceries, for each month.

Re: Questions for PRG holders

Repo-ed — Sun, 13 Oct 2013 14:03:50 GMT

Cancelling mine before AF in Jan.

Hoping for another 100k MR Plat offer - so I can grab that card up.

Re: Questions for PRG holders

Hockeyplayrr — Sun, 13 Oct 2013 15:20:15 GMT

I'm probably going to cancel and get the CSP in the future. I don't travel much now so I linked my amex account to amazon for the MR redemption. You only get $7 per 1000 points though

Re: Questions for PRG holders

takeshi74 — Sun, 13 Oct 2013 15:51:24 GMT

@Anonymous wrote:

After not getting a MR signup bonus, I'm really torn on whether to keep the card or not.

You can't rely on polling to answer such questions. Worth is always subjective and you need to determine if the various aspects of the card justify the AF for you. MR doesn't transfer to United so it's a non-starter for me. YMMV as with any subjective matter.

Re: Questions for PRG holders

Anonymous — Sun, 13 Oct 2013 15:59:30 GMT

@takeshi74 wrote:
@Anonymous wrote:

After not getting a MR signup bonus, I'm really torn on whether to keep the card or not.
You can't rely on polling to answer such questions. Worth is always subjective and you need to determine if the various aspects of the card justify the AF for you. MR doesn't transfer to United so it's a non-starter for me. YMMV as with any subjective matter.

Of course, I am very aware that at the end of the day, the decision is mine alone. However, I think there is value in seeing how others dealt with a similar decision and what their thought process was. Perhaps, I'm overlooking a great use of the card or an important consideration in closing it.

Re: Questions for PRG holders

09Lexie — Sun, 13 Oct 2013 16:15:57 GMT

@Hockeyplayyr

The CSP isn't a good card if you don't travel.

Re: Questions for PRG holders

IcEWoLF — Sun, 13 Oct 2013 16:36:02 GMT

@09Lexie wrote:
@Hockeyplayyr

The CSP isn't a good card if you don't travel.

For dining is good, but of course, you will have to dine out a whole lot to make up for the AF.

Re: Questions for PRG holders

09Lexie — Sun, 13 Oct 2013 16:38:24 GMT

@IcEWoLF

A whole lot of dining out.

Re: Questions for PRG holders

youngandcreditwrthy — Sun, 13 Oct 2013 16:39:55 GMT

I dont really like MR points. But I dont have any Amex card that deals in those. Only have BCE and D Gold.

Re: Questions for PRG holders

bluesnowman — Sun, 13 Oct 2013 16:56:30 GMT

The PRG is a good points earning card if you value MR points quite a bit. I love my PRG, but unfortunately I don't use it enough (plus my income is a rather limiting factor) to justify the annual fee. I think I'll end up closing it next month since the annual fee will be due then, since I can't justify the annual fee.

Re: Questions for PRG holders

Anonymous — Sun, 13 Oct 2013 17:46:20 GMT

@Anonymous wrote:
For gas and groceries, the BCP is your best option. 6% for groceries (6k cap), 3% for gas. There's an AF, but if you spend quite a bit on groceries it's easily worth the money.
The Amazon visa is no limit 2% for gas, groceries, restaurants and 3% for amazon.
And there's also Sallie Mae, which is 5% for first 250 in gas, 250 in groceries, for each month.

For some, the best gas/grocery might be the TD Cash Rewards, which is uncapped 5% on gas/groceries/utilities/restaurants. The drawback is that this is only for 6 months, but according to recent posts on FT, once you close it, you can get it again after just 2 months. So a partner pair can have it all the time. I will be testing this in March!

Re: Questions for PRG holders

Anonymous — Sun, 13 Oct 2013 17:50:03 GMT

@icewolf, there are other better dining cards than the CSP if you are just redeeming it for cashback.

The citi forward is uncapped 5%.
Amazon visa is also 2% for dining with no AF.
Cash+ can be set for 5% for up to 2k per quarter for restaurant expenses.

Re: Questions for PRG holders

Anonymous — Sun, 13 Oct 2013 18:00:23 GMT

@09Lexie wrote:
@IcEWoLF

A whole lot of dining out.

Well, CSP gets (a delayed) 2.14%, and, for example, Fidelity Amex and Amazon gets 2% So to make up the $95 in AF, you only need to spend $68K on dining each year for the CSP to win That's just a few thousand trips to McDonalds!

And compared to the cash plus (5% on first 8,000 and 1% on rest) CSP wins after just $26K

And if you are lucky enough to have the Forward, that is always better for cashback

Re: Questions for PRG holders

Anonymous — Sun, 13 Oct 2013 18:02:27 GMT

@longtime, let me know how that TD rewards is working out for you too after you get it. For now I still have the citi 5X on gas, groceries etc, but its ending in April for me

Re: Questions for PRG holders

koalablue — Sun, 13 Oct 2013 21:45:50 GMT

I had the PRG for a year and then upgraded to the Platinum, since I travel a fair amount. Have already used the 200.00 travel credit on the Plat and used the American airport lounge a couple times. The point earning isn't as good on the Plat, but people mainly get it for the travel rewards. I use the BCP for grocery shopping, so the PRG wasn't getting any use there.

Re: Questions for PRG holders

Walt_K — Sun, 13 Oct 2013 21:56:51 GMT

If you don't put $30K through this card and a decent amount of that in the bonused categories, it's most likely not worth it.

Re: Questions for PRG holders

TheClub — Sun, 13 Oct 2013 22:07:59 GMT

IMO,

The PRG is best for those who will run at least $30000 a year through the card to redeem the 15000 MR bonus points. That'll justify the $175 annual fee as you'll earn a minimum of 45000 MR points total for every 30k spent.

Re: Questions for PRG holders

Anonymous — Sun, 13 Oct 2013 23:03:26 GMT

Yeah, I've deciced to keep it until the AF is due, then either cancel or downgrade to Green. Probably just cancel it altogether so I can try for a decent bonus on one of their charge cards at some point well down the road.

No point in cancelling right away since the backdating is helping to offset the AAoA damage from my new Freedom and Mileage Explorer.