Amex Spg / Bonvoy advice

[Anonymous]

First of all, congrats on the shiny new Card! Do you not have any other Amex products that you could transfer some CL from?

I don't see anything in your siggy. 

While it may be tough to achieve with a $1K CL, I would defintely meet the SUB. Otherise it's like saying no to a few free nights, depending on lacation of course. Remember that after 30 days you can make multiple payments to bring your balance back down. So even if you max it out in one transaction, you can PIF and do it again. The only hickup is that Amex isn't as widely accepted as Visa/MC, so no rent payments or some utilities. But if you timed it right, there's Auto Insurance. Good Luck!

[AverageJoesCredit]

Thanks everybody, very helpful suggestions. Appreciate the words @odd_dog

I do have other Amex products@Janus. I currently have ED -2700 , BCE- 2000, and Magnet - 5000. . I did make my first charge today, and actually made about $300 in charges doing some car maintenance.

As ive been trying to maintain pif with Amex a question if i might. In order to get a SUB, does the spend have to be paid in full or is it mainly achieving the 3k in spend?

[odd_dog]

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@AverageJoesCredit wrote:
Thanks everybody, very helpful suggestions. Appreciate the words @odd_dog

I do have other Amex products@Janus. I currently have ED -2700 , BCE- 2000, and Magnet - 5000. . I did make my first charge today, and actually made about $300 in charges doing some car maintenance.

As ive been trying to maintain pif with Amex a question if i might. In order to get a SUB, does the spend have to be paid in full or is it mainly achieving the 3k in spend?

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My experience is no you do not have to pay off just make the spend requirement, I know this was the case with my Schwab investor card as it also came with a 0% for 6 months, I put a lot on that for the 0% got the bonus and still have a balance as my 0% does not end for a few more months....

[HeavenOhio]

Technically, you should be able to revolve a balance. Of course, that's not practical when you're trying to reach a 3k sign-up bonus on a 1k limit.

[HeavenOhio]

Just another thought. If it would make things easier, you could transfer some of the limit from one of your other cards.

[Anonymous]

Nope, you could technically charge the whole $3K in the first week to meet the SUB. And then carry that balance through then end of the 0% APR promo. In which case you would need a higher CL, but you do not need to pay the charge off to qualify for the SUB. As long as the charges meet their requirements "purchases". 

It also helps to keep an eye on Amex Offers to see if any purchase will qualify for statement credits. Nice to pay them back with their own Money. lol 

[Anonymous]

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@Shadowfactor wrote:

Not very knowledgeable on SPG/Mariott but based on all the discussion i've seen on mariott points, the value seems to sit around .8-1CPP. I know several people that can acheive more out of them but I believe thats high end bookings or vacation packages with airfare.

I would go for the sub. even at a modest .8 CPP thats $600 in value free hotel stays. There's some lower end mariotts that have quite reasonable redemption values. Do a weekend roadtrip. Traveling doesn't have to be expensive.

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The trick for maximum value is the 5th night free on award stays.   For example staying at a local beach in summer rate is $750 a night.  5 nights would be $3500.  The cost is 200k points.  I have gotten 600k Marriott points in the last year and a half.  

I do think their rates are going up soon though. And they are implementing seasonal rates too where the best deals will be gone. I have seen a lot of hotels in NYC for 35k points and rates $500 or more.  But I think the point rate is going up later this month.  

As for the original poster. Yes obviously the points are worth it.  You could always do a Marriott moment with the points. 

[AverageJoesCredit]

Thank you. Good viewpoints. Ill definitely check on moving limits when i get home to see what comes out better.

[SouthJamaica]

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@AverageJoesCredit wrote:
Hey guys. I figured id start a thread for my reference and look forward to your advice. As you know i recently got this card , approved for $1k and i believe im eligble for the Sub , $3k spend in 3 months, 75k points.

Im in a dilemma as to whether or not to really pursue this SUB , especially on only a 1k limit card. Can you advise me on what this bonus may be worth ? I really got the card for a free night to relax , i know, im not the sanest person lol.

Im low income , dont travel but like anything in credit, sometimes like to try something new. Trying to figure out if its best to just put my spend elsewhere. First year has no af so im ok there for now.

I know the usual caveat that if you dont travel, etc why get a travel card so i ask kindly to be gentle and if possible just offer some sound advice or experiences. Thanks much appreciated

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For the type of hotels I stay in, which are basically budget hotels, I find their points are worth about 1/3 of a cent each. 75,000 points would get me 2 to 3 nights. I just checked one the other day and it was 35,000 points; if I paid cash it would be $113. 113/35000=.00323

So figure the SUB is worth $242, which is an 8% return on the $3k spend. So I guess the answer is yes... 8% is better than we usually get from regular reward card use.

[Anonymous]

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@AverageJoesCredit wrote:
I currently have ED -2700 , BCE- 2000, and Magnet - 5000

Thank you. Good viewpoints. Ill definitely check on moving limits when i get home to see what comes out better.

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Keep in mind that CL reallocations aren't permanent, so you can always move it back to the donor card after the spend. If you find that you're not using the SPG that much. IDK which cash card you use most often, but I'd borrow $3-4K from the Magnet until after the spend is met to allow a little breathing room. Then just move it back, especially before a CLI.