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@mongstradamus wrote:
That is true but if you are applying for an prg type card shouldn't you be transferring them only for travel ?
You would think so, but on the Amex forum, there was a question about what people redeemed for, and a LOT of Platinum and Gold holders were praising the card because of all the great gift cards and merchandise you can get. Hopefully some of the Plat holders also used airport lounges, but I suspect a lot got it for apparent status!
@longtimelurker wrote:
@mongstradamus wrote:That is true but if you are applying for an prg type card shouldn't you be transferring them only for travel ?
You would think so, but on the Amex forum, there was a question about what people redeemed for, and a LOT of Platinum and Gold holders were praising the card because of all the great gift cards and merchandise you can get. Hopefully some of the Plat holders also used airport lounges, but I suspect a lot got it for apparent status!
Unbelievable!
if your FICO is around the 720-730 mark, you should be fine applying for both. since the CSP is the one you really want, apply for that one first. Charge cards also have less UW restrictions so they'll be easier to get. Since Blue Cash you recently acquired is a revolver, you should still be able to get a charge card (I know sometimes Amex is hesitant to approve for two revolvers back to back) and you will still be able to get the signup bonus.
Re: MR rewards -- there are enough gift cards that you can get 1:1 for, but the best redemptions can give you much better than that. ThePointsGuy currently values MR at 1.8cents per point (http://thepointsguy.com/2014/06/what-are-points-and-miles-worth-june-monthly-valuations/). Note: he also values Chase UR points at 2.1 cents per point, but I value them at around 1.6-1.8. His estimations are higher because he usually redeeems for Business / 1st class international flights and upgrades, where you can get more value.
You can wait to optimize the backdating feature (so you'd wait Jan 2015), but the offer will be expired by then. it really comes down to whether or not you really care about the 7 months for your AAoA.
Charge cards report differently and do not affect Util%.