CSP vs Arrival

[Open123]

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@lexrjSD wrote:

+1 for the ARRIVAL, I'm going to PC my CSP to a CS and sock drawer it.

CSP only makes sense for ppl that can't afford 1st class travelling but want's to use their hard earned points to squeze a 1st class ticket by transfering points.

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You think it's a better idea for them to use "their hard earned points" to redeem readily available coach flights?

[lexrjSD]

I think they should do whatever makes them happy, I just completely disagree with the strategy. I'd rather travel more and fly coach than travel a lot less and fly 1st.

That's the only strategy worth for the CSP unless you're a huge spender, except that huge spenders could care less about saving points for travelling, they just book whatever they want.

[Anonymous]

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@lexrjSD wrote:

I believe credit cards should be used for the following purposes:

1) Improve overall credit (Limits and Score)

2) Maximize returns on spending (not extra spending, but spending that is going to be done regardless).

Getting credit cards for the sole purpose of bonuses it's counter productive if you're trying to grow your credit card limits and overall credit, might even burn you with some financial institutions depending on what you're doing.

I'm a strong believer that you should only have the cards that matches your spending patterns in order to maximize rewards. When you need credit (car, house and etc), it looks much better to the lender if you have less cards with high limits than a bunch of cards with low limits.

There are always exceptions, for example: if you already have established credit and won't be needing credit anytime soon I guess you could get some bonuses to pay for a trip or something, but those are rare situations in my opinion.

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Remember that people have different credit profiles here, and Open123 has a nice thick file and excellent credit, so it makes sense for him.  There isn't a problem with a bunch of low limit cards, and it doesn't need to be a one-time thing to pay for a trip.  Similarly I go for MS as it gives even more income (and it's sort of fun)  Neither is for everyone, but to completely disagree in a blanket way is too much in the other direction.  Don't do this too often with very thin files, but it can make sense for many.

Also, keeping a credit card for the long-term can be pointless.  Cards get nerfed, the value of rewards (esp for transfers) can devalue, and sometimes a card that suits your spending pattern even better might come along.   So, if your credit history supports it, feel free to go for cards JUST for bonuses, if you want to!

[lexrjSD]

Like I said, there are always exceptions, however, the majority of ppl that I see posting here do not fall under those exceptions. They seem to be applying for whatever they can as much as they can.

I'm not judging anyone, I just completely disagree with the strategy.

[Open123]

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@lexrjSD wrote:

I'd rather travel more and fly coach than travel a lot less and fly 1st.

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There's certainly a value here, which is more than the single premium cabin flight.  I can't speak for other rewards enthusiasts, but I think the one thing I try to do is to maxim the return on spending.

I do it more as a hobby, as opposed to a need.  For me, it's just lots of fun to unearth pockets of value and opportunistic redemptions.  And, of course, if I had a choice, I'd rather fly in business or first, rather than coach.  

[Open123]

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@lexrjSD wrote:

I'm not judging anyone, I just completely disagree with the strategy.

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I agree with you.  App sprees aren't for everyone, and should never be taken lightly.  It is a game, but can potentially have serious short to midterm consequences.

[CreditScholar]

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@lexrjSD wrote:

I think they should do whatever makes them happy, I just completely disagree with the strategy. I'd rather travel more and fly coach than travel a lot less and fly 1st.

That's the only strategy worth for the CSP unless you're a huge spender, except that huge spenders could care less about saving points for travelling, they just book whatever they want.

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This might be ok if you're assuming that the only limitation that keeps people from travelling more is money. However for some of us, the major limiting factor is time.

It's not simply a matter of I have $X to spend, so I'd rather spread it across 5 flights in Y instead of one in F. Instead it could be I only have X weeks off per year, money isn't really a factor, so I want those weeks to be as good as they possibly can. For some, "as good as they possibly can" might mean J or F tickets.

The other issue with your logic is that "huge spenders couldn't care less about saving points for travelling, they just book when they want".

My question is if you don't have to pay for something and can use points instead, why not? Sure one could shell out 10k for an international business class seat, but if you can use points that you've already earned through normal everyday spending, why not put that same 10k to use somewhere else? I refuse to believe that there isn't somewhere else you can use the money. Just because you can afford it doesn't mean you should always pay the asking price. If there's a way to get it for less, what's wrong with saving money?

[Networth]

I always find the assumption that people with means don't care about points and "free" rewards, and ohh how wrong that assumption is. Oh and CSP > Arrival.

[red259]

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@lexrjSD wrote:

I think they should do whatever makes them happy, I just completely disagree with the strategy. I'd rather travel more and fly coach than travel a lot less and fly 1st.

That's the only strategy worth for the CSP unless you're a huge spender, except that huge spenders could care less about saving points for travelling, they just book whatever they want.

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 You can get decent coach redemptions as well. You don't need to be a "huge spender" to benefit from the card. Many people here benefit from the CSP. I prefer to fly first/business class on international flights. The prices on those tickets are astronomical. Therefore the only way I would ever be flying that level is through points, since I can't bring myself to shell out that type of money for an airline ticket. There is nothing wrong with getting a card for the bonus. I think you are making too many assumptions about the people on the board. Sure some people are rebuilding or have limited credit card spend or do not travel. The CSP is not designed for them. However, there are also many people here that benefit from credit card bonuses and come to these boards to stay up to date on the latest information. 

[blondy250]

I'm convinced by some of the posts I've read the primary reason many people get a CSP is because it's a metallic card. Actually a brilliant piece of marketing by Chase, you get a large group of holders who pay an annual fee , but never get any of the intended benefit out of the card.