topic Re: Question about BT & Earning Rewards in Credit Cards

Question about BT & Earning Rewards

WLRK11 — Wed, 29 Oct 2014 03:42:00 GMT

I'm wondering if it's possible to earn UR points if you make a purchase on CSP and then complete a balance transfer from the CSP to another card. I only ask because I have to make a large purchase, and I'm planning on transfering to a 0% BT offer on another card.

I know some cards wait until a payment before issuing points. Thanks!

Re: Question about BT & Earning Rewards

Anonymous — Wed, 29 Oct 2014 02:34:38 GMT

@WLRK11 wrote:
I'm wondering if it's possible to earn UR points if you make a purchase on CSP and then complete a balance transfer from the CSP to another card. I only ask because I have to make a large purchase, and I'm planning on transfering to a 0% BT offer on another card. What about AMEX SPG?

I know some cards wait until a payment before issuing points. Thanks!

If you can't afford it....

Re: Question about BT & Earning Rewards

WLRK11 — Wed, 29 Oct 2014 03:23:10 GMT

@Anonymous wrote:
@WLRK11 wrote:
I'm wondering if it's possible to earn UR points if you make a purchase on CSP and then complete a balance transfer from the CSP to another card. I only ask because I have to make a large purchase, and I'm planning on transfering to a 0% BT offer on another card. What about AMEX SPG?

I know some cards wait until a payment before issuing points. Thanks!
If you can't afford it....

Nixon:

Thanks for the laughs! (And, in your own, twisted way, thanks for your concern.) Fortunately, with cash on hand (excluding investments, ect.) I am able to buy this item thousands of times over.

With that being said, I am young, and do not consider the assets and LP interests in my name as earned - they are instead my birthright. Therefore, I have a budget with a savings goal and as we near the end of the year, this purchase will throw off my savings forecast. I plan to use the 0% interest to buy me time (after all, isn't that the concept of interest? The time value of money?)

BTW, I'd like to reference Revelate's post entitled: Friendly, Supportive, and Respectful. I suggest that you read it from top to bottom. Before you click that "Post" button next time, ask yourself if your content above is helpful to the OP and the community.

Re: Question about BT & Earning Rewards

Anonymous — Wed, 29 Oct 2014 03:27:05 GMT

@WLRK11 wrote:
@Anonymous wrote:
@WLRK11 wrote:
I'm wondering if it's possible to earn UR points if you make a purchase on CSP and then complete a balance transfer from the CSP to another card. I only ask because I have to make a large purchase, and I'm planning on transfering to a 0% BT offer on another card. What about AMEX SPG?

I know some cards wait until a payment before issuing points. Thanks!
If you can't afford it....
Nixon:

Thanks for the laughs! (And, in your own, twisted way, thanks for your concern.) Fortunately, with cash on hand (excluding investments, ect.) I am able to buy this item thousands of times over.

With that being said, I am young, and do not consider the assets and LP interests in my name as earned - they are instead my birthright. Therefore, I have a budget with a savings goal and as we near the end of the year, this purchase will throw off my savings forecast. I plan to use the 0% interest to buy me time (after all, isn't that the concept of interest? The time value of money?)

BTW, I'd like to reference Revelate's post entitled: Friendly, Supportive, and Respectful. I suggest that you read it from top to bottom. Before you click that "Post" button next time, ask yourself if your content above is helpful to the OP and the community.

As opposed to encouraging you to get into debt without knowing your particular fiscal situation?

What if all your other cards were maxed out and you got a CSP and some BT friendly other card out of pure luck and wanted to buy something you couldn't afford now, but wanted the points for.

I prefer to err on the side of caution. I also encourage anyone to correct me as to their situation and I will gladly reciprocate in kind.

So if it makes you feel better. Sorry for inadvertedly calling you a deadbeat.

Re: Question about BT & Earning Rewards

Anonymous — Wed, 29 Oct 2014 03:29:36 GMT

You're welcome for the laughs BTW. Those are complimentary. I've never been known to be much for conformity either. But thanks for the suggestion.

I'll take it under advisement.

Re: Question about BT & Earning Rewards

WLRK11 — Wed, 29 Oct 2014 03:32:26 GMT

Straight from the Chase Sapphire Preferred with Ultimate Rewards Program Rules and Regulations:

Earning Rewards: You will earn 1 point for each $1 of Net Purchases. You will earn an additional 1 point for each $1 of Net Purchases made in any of the following categories: travel; dining at restaurants. You will also earn an additional 1 point for each $1 of airfare and hotel accommodation net purchases when you book at chase.com/ultimaterewards (for a total of 3 points). (“Net Purchases” are purchases of goods and services made by you or any authorized user on your Account minus any returns or refunds, and do not include balance transfers, cash advances, cash-like charges such as travelers checks, foreign currency, and money orders, any checks that access your Account, overdraft advances, interest, unauthorized or fraudulent charges, or fees of any kind, including an annual fee, if applicable.)

I hope this helps.

Re: Question about BT & Earning Rewards

Anonymous — Wed, 29 Oct 2014 03:31:31 GMT

I would not recommend this, especially if you want to maintain a healthy relationship with Chase.

Re: Question about BT & Earning Rewards

Anonymous — Wed, 29 Oct 2014 03:32:08 GMT

@WLRK11 wrote:
Straight from the Chase Sapphire Preferred with Ultimate Rewards Program Rules and Regulations:

Earning Rewards: You will earn 1 point for each $1 of Net Purchases. You will earn an additional 1 point for each $1 of Net Purchases made in any of the following categories: travel; dining at restaurants. You will also earn an additional 1 point for each $1 of airfare and hotel accommodation net purchases when you book at chase.com/ultimaterewards (for a total of 3 points). (“Net Purchases” are purchases of goods and services made by you or any authorized user on your Account minus any returns or refunds, and do not include balance transfers, cash advances, cash-like charges such as travelers checks, foreign currency, and money orders, any checks that access your Account, overdraft advances, interest, unauthorized or fraudulent charges, or fees of any kind, including an annual fee, if applicable.)

I hope this helps.

Re: Question about BT & Earning Rewards

WLRK11 — Wed, 29 Oct 2014 03:33:25 GMT

@Anonymous wrote:
I would not recommend this, especially if you want to maintain a healthy relationship with Chase.

Now there's some great input!

Re: Question about BT & Earning Rewards

Anonymous — Wed, 29 Oct 2014 03:35:48 GMT

@WLRK11 wrote:
@Anonymous wrote:
I would not recommend this, especially if you want to maintain a healthy relationship with Chase.
+1

Now there's some great input!

A payment is a payment regardless if it's a BT or it came from your bank account.

They would not see it negatively.

So OP, Do you accept my apology, which I promise was genuine.

Re: Question about BT & Earning Rewards

WLRK11 — Wed, 29 Oct 2014 03:41:02 GMT

@Anonymous wrote:
@WLRK11 wrote:
@Anonymous wrote:
I would not recommend this, especially if you want to maintain a healthy relationship with Chase.
+1

Now there's some great input!
A payment is a payment regardless if it's a BT or it came from your bank account.

They would not see it negatively.
So OP, Do you accept my apology, which I promise was genuine.

Yes! I'll consider your post a sort of tough love/concern a la Nurse Ratched.

Re: Question about BT & Earning Rewards

Anonymous — Wed, 29 Oct 2014 03:45:46 GMT

@WLRK11 wrote:

Yes! I'll consider your post a sort of tough love/concern a la Nurse Ratched.

Good! We can carry on then.

For reference, OP. I did this same thing with the Wife's PRG while meeting the spend for the bonus points. Sent $1,000 of the balance to our Citi Diamond Preferred as I had some of our fluid money tied up in other things at the time, and I don't like having our checking accounts dropping below a certain amount.

Re: Question about BT & Earning Rewards

takeshi74 — Wed, 29 Oct 2014 14:01:54 GMT

@WLRK11 wrote:
Straight from the Chase Sapphire Preferred with Ultimate Rewards Program Rules and Regulations:

Earning Rewards: You will earn 1 point for each $1 of Net Purchases. You will earn an additional 1 point for each $1 of Net Purchases made in any of the following categories: travel; dining at restaurants. You will also earn an additional 1 point for each $1 of airfare and hotel accommodation net purchases when you book at chase.com/ultimaterewards (for a total of 3 points). (“Net Purchases” are purchases of goods and services made by you or any authorized user on your Account minus any returns or refunds, and do not include balance transfers, cash advances, cash-like charges such as travelers checks, foreign currency, and money orders, any checks that access your Account, overdraft advances, interest, unauthorized or fraudulent charges, or fees of any kind, including an annual fee, if applicable.)

I hope this helps.

Unfortuantely that's not relevant to the OP. The text above means that if you perform a balance transfer to the CSP that you will not earn points on that balance transfer.

The OP is making a purchase with the CSP which will earn points and then balance transferring from (effectivelty a payment as far as Chase is concerned) the CSP.

Re: Question about BT & Earning Rewards

Anonymous — Wed, 29 Oct 2014 14:46:44 GMT

@takeshi74 wrote:
@WLRK11 wrote:
Straight from the Chase Sapphire Preferred with Ultimate Rewards Program Rules and Regulations:

Earning Rewards: You will earn 1 point for each $1 of Net Purchases. You will earn an additional 1 point for each $1 of Net Purchases made in any of the following categories: travel; dining at restaurants. You will also earn an additional 1 point for each $1 of airfare and hotel accommodation net purchases when you book at chase.com/ultimaterewards (for a total of 3 points). (“Net Purchases” are purchases of goods and services made by you or any authorized user on your Account minus any returns or refunds, and do not include balance transfers, cash advances, cash-like charges such as travelers checks, foreign currency, and money orders, any checks that access your Account, overdraft advances, interest, unauthorized or fraudulent charges, or fees of any kind, including an annual fee, if applicable.)

I hope this helps.
Unfortuantely that's not relevant to the OP. The text above means that if you perform a balance transfer to the CSP that you will not earn points on that balance transfer.

The OP is making a purchase with the CSP which will earn points and then balance transferring from (effectivelty a payment as far as Chase is concerned) the CSP.

Yep..