Chase Sapphire card vs 2% cash back?

[BlueberryPie]

Quote:

Originally Posted by explanade If you plan to transfer points to airline miles regularly, then each UR point is worth more than each dollar spent on the 2% cash cards.

Can you explain or provide an example? I'm not familiar with using points for miles. I only have miles on United and i don't have a good sense for what the value of a united mile is per dollar.

You get only 1 UR point per cent spent, so by default you get 1% cash back. 1.25% if you use it to buy travel through their site since 1 UR pont is worth $1.25 there.

By comparison my Capital One Venture provides 2% dollar back but that can only be used for travel (offset statement amount towards travel like hotel, flights...)
I have not compared the benefits or the Venture vs the Sapphire but they are both travel card and look similar on the surface. So unless I understand how to get 2% or more from the milage transfer you mention, i think I get more out of the Venture card.

[BlueberryPie]

Actually i found that the app tells me i will get my 100Knpint on my next statement in a few days. So it appears you get your mile on the statement date after you reach $4K expenses.

[calmloki]

Quote:

Originally Posted by BlueberryPie So when exactly do you get the 100K bonus points? On the statement that exceeds $4K? The balance on my card exceeds $4K already but wasn't there on the last statement. So I should get the credit at that in a few days at the August statement date?

"You did it! Your 80,000 bonus will be added to your points balance as of your next statement on 08/16/21."

So it says on my online Chase rewards page. On the same page it says I have 100,401 points coming with my next statement. I had passed the $4000 spend and prepaid $4270 on 7-23, accounting for a charge or two that hadn't posted. Looks like you have it figured out correctly.

[explanade]

Quote:

Originally Posted by BlueberryPie Can you explain or provide an example? I'm not familiar with using points for miles. I only have miles on United and i don't have a good sense for what the value of a united mile is per dollar. You get only 1 UR point per cent spent, so by default you get 1% cash back. 1.25% if you use it to buy travel through their site since 1 UR pont is worth $1.25 there. By comparison my Capital One Venture provides 2% dollar back but that can only be used for travel (offset statement amount towards travel like hotel, flights...) I have not compared the benefits or the Venture vs the Sapphire but they are both travel card and look similar on the surface. So unless I understand how to get 2% or more from the milage transfer you mention, i think I get more out of the Venture card.

Generally international business class tickets run $2000 to $10000 to Europe for instance.

On UNited, you can get such tickets for 140-150k miles.

So the 100k points you get from this promo is worth about 2/3 of an international business class ticket to Europe, meaning it could be worth the equivalent of as much as $6700.

Now award tickets can be as much as 300k miles but you can find “saver” awards in high season with good routings — usually not the best routings.

[BlueberryPie]

Thanks for the insight. I fly economy and I suspect the savings shrink accordingly.
I also like that the Venture 2% require no planning at all, you simply reimburse yourself back later for anything classified as travel. It's also only $59/year (i think I'm grandfathered into a lower fee, because their website seems to say it is higher).

I may in the end do the Citi 2% no annual fee, but first i need to really look at what perks a travel card gets me. I feel that i never really took advantage of them in the past (last time I rented a car was in Ireland, which is explicit excluded from the rental coverage)

[explanade]

Quote:

Originally Posted by BlueberryPie Thanks for the insight. I fly economy and I suspect the savings shrink accordingly. I also like that the Venture 2% require no planning at all, you simply reimburse yourself back later for anything classified as travel. It's also only $59/year (i think I'm grandfathered into a lower fee, because their website seems to say it is higher). I may in the end do the Citi 2% no annual fee, but first i need to really look at what perks a travel card gets me. I feel that i never really took advantage of them in the past (last time I rented a car was in Ireland, which is explicit excluded from the rental coverage)

Yeah a lot of the benefits of the Chase Sapphire cards are for travel, especially international travel.

And yes, business class, with lie flat seats, are where you get the best bang for the buck with those points, converting them to miles.

I have the Citi Double Cash and I do use them for most of my bills. You can also convert those points to miles with Citi Thank You points or something like that, which can be transferred to some airlines (different airlines than Chase).

I used to use the Citi card a lot more but they removed the product warranty benefit, where they double the warranty of things like electronics. For instance, I got them to reimburse me to replace an iPad which went bad.

The Chase cards still offer the warranty, even their no-fee Visa cards such as Chase Freedom Unlimited.

[Chuckanut]

Quote:

Originally Posted by PaunchyPirate Unfortunately, my website does not show that information in this location. It nicely summarizes how many points I've earned so far, but not how much money I've spent toward the $4000. Since some of my transactions earn more than 1 point per dollar, the 2 numbers are not synonymous.

Yes, same issue with me. But, I did find it on the tablet app for the iPad.

[Scuba]

Quote:

Originally Posted by BlueberryPie So when exactly do you get the 100K bonus points? On the statement that exceeds $4K? The balance on my card exceeds $4K already but wasn't there on the last statement. So I should get the credit at that in a few days at the August statement date?

I got my 100K points on my first statement, which exceeded $4K.

[Scuba]

Quote:

Originally Posted by explanade Generally international business class tickets run $2000 to $10000 to Europe for instance. On UNited, you can get such tickets for 140-150k miles. So the 100k points you get from this promo is worth about 2/3 of an international business class ticket to Europe, meaning it could be worth the equivalent of as much as $6700. Now award tickets can be as much as 300k miles but you can find “saver” awards in high season with good routings — usually not the best routings.

Thank you for this explanation. I can see where this could be a lot of value, although we have normally flown premium economy or economy with extra legroom seats. I’m kind of spoiled with the Fidelity 2% back card. It’s nice to see that cash automatically deposited each month.

[Thunder Up]

Hyatt Hotels offer some of the best values for using Ultimate Rewards. It is not difficult to achieve a value greater than 3-5%+. For example, the cash rate at the Hyatt Place in Moab, Utah over Labor Day weekend is $358 a night, with tax the cash rate is over $400 a night. You can secure that room for 8000 Hyatt points. That return exceeds 5%. Ultimate Rewards transfer to Hyatt Hotels at a 1 to 1 ratio.

Happy Travels

[Chuckanut]

Quote:

Originally Posted by Scuba Thank you for this explanation. I can see where this could be a lot of value, although we have normally flown premium economy or economy with extra legroom seats. I’m kind of spoiled with the Fidelity 2% back card. It’s nice to see that cash automatically deposited each month.

I also tend to like the cashback cards, especially when some periodically offer 5% back on items I routinely buy anyway. But, I will try working the Ultimate Reward points to see how far I can stretch their value. But, if I have to spend hours and hours studying rates and moving things about, it will be back to cashback. Time will tell.

[BlueberryPie]

I feel the same way, which is likely why I will not keep it, but we'll see. I have a specific trip in mind for my bonus but possibly in jeopardy due to resurgence of COVID in the Caribbean

[Sunset]

Quote:

Originally Posted by Thunder Up Hyatt Hotels offer some of the best values for using Ultimate Rewards. It is not difficult to achieve a value greater than 3-5%+. For example, the cash rate at the Hyatt Place in Moab, Utah over Labor Day weekend is $358 a night, with tax the cash rate is over $400 a night. You can secure that room for 8000 Hyatt points. That return exceeds 5%. Ultimate Rewards transfer to Hyatt Hotels at a 1 to 1 ratio. Happy Travels

Good to know... never would have thought of it

[Surewhitey]

This past year has been our hobby for rewards. Really started back in 2018. Here are some of wins.

Capitol One Savor - $500x2 (me, then wifey)
Sapphire - $1200x2
Spark biz - $600
AA travel - 65k miles

I'm using the Spark for most things now as it gets 2% on everything. Most of these are just in the past year...
Pre-payment of utilities is one of my tricks...

[Chuckanut]

This year seems like I've done pretty well. I've said in the past I have made more money this year on the cash back cards than I have on interest on my few CD's.

This year was and unusually good one for free rooms.
Vacation 1 - three free nights out of 17
Vacation 2 - four free nights out of five
Vacation 3 - two free nights out of five
Vacation 4 - not yet accomplished, one free night.

With taxes and fees I estimate the nine free nights must be worth at least $1600. I don't stay at the Ritz. Often I am in smaller towns where the major hotel chains don't have properties or don't have reward rooms available. That's why my free nights are so spread out. My philosophy is to use points, free nights, etc. ASAP before they expire or are devalued.

As Covid recedes into the background and becomes endemic and no longer a pandemic emergency, I hope to take longer vacations.

[explanade]

Quote:

Originally Posted by Thunder Up Hyatt Hotels offer some of the best values for using Ultimate Rewards. It is not difficult to achieve a value greater than 3-5%+. For example, the cash rate at the Hyatt Place in Moab, Utah over Labor Day weekend is $358 a night, with tax the cash rate is over $400 a night. You can secure that room for 8000 Hyatt points. That return exceeds 5%. Ultimate Rewards transfer to Hyatt Hotels at a 1 to 1 ratio. Happy Travels

Interesting, just a week or two before Labor Day weekend, the rooms are less than half the price.


https://www.expedia.com/Moab-Hotels-...Plan=288214038

[BlueberryPie]

Of course, were all amateurs here:

https://grow.acorns.com/nick-ewen-ma...t-cards-score/

[Chuckanut]

Quote:

Originally Posted by 2017ish DW just got the Preferred and its bonus. Will have to run the numbers to see if it is more attractive than the Reserve and determine which one to renew next year. Last time we looked 4 years ago, the Reserve was better in our particular situation.

Chase just (8/16) changed some of the details on the Preferred and Reserved cards.

Here's the news on the Preferred card. Yearly fees remain the same

Quote:

The Chase Sapphire Preferred changes are much more significant: Some may appreciate the $50 hotel credit, though personally it’s not something I’d value that much; you have to book through Chase, which typically means you won’t receive elite perks or points if staying with a major hotel group, so this is just a way for Chase to get people to book through the portal (Chase also gets a commission on these bookings, so it’s probably a pretty low cost new perk) The much bigger change is that you earn 3x points on dining, streaming services, and online groceries; it makes sense that the Sapphire Preferred earns 3x points on dining, since the Chase Freedom FlexSM (review) and Chase Freedom Unlimited® were refreshed last year to offer 3x points on dining as well The icing on the cake is the 10% anniversary bonus, which means you’re essentially earning over 3x points per dollar spent on dining, etc.

As a new Preferred card holder I am not sure how the changes will affect me. The $50 hotel room rebate looks like it will take the edge off that $95 yearly fee. And I suppose the 10% points bonus may help a bit. But, I am still basically a cash-back kind of guy. Show me the money! I am always suspicious that they will devalue the points and I will be a net looser. Time will tell. For now I hope to have 100,000 points to blow on travel to somewhere.

Oh, here are the changes for the Reserve card:

Quote:

The Chase Sapphire Reserve Card now has the following new benefits: 10x Ultimate Rewards points on Chase Dining, as well as hotels and car rentals booked through the Chase Travel portal 5x Ultimate Rewards points on flights booked through the Chase Travel portal The card continues to earn 3x Ultimate Rewards points on all other dining and travel purchases, and 1x Ultimate Rewards points on everyday spending

[JP.mpls]

Quote:

Originally Posted by Chuckanut I also tend to like the cashback cards, especially when some periodically offer 5% back on items I routinely buy anyway. But, I will try working the Ultimate Reward points to see how far I can stretch their value. But, if I have to spend hours and hours studying rates and moving things about, it will be back to cashback. Time will tell.

Chuckanut,
I think the cashback cards are better too. I think the points system is just a way to hide not giving the rewards in specific situations.

On the topic of cashback:
( I should possibly start a new topic.)

I have been using Capital One with a cashback of 1.5% on everything.

I recently applied for a Fidelity Visa with 2% rewards. It turns out they use points, not cashback. They also state 2% back on "qualified" purchases, but they are a little unclear regarding what is a qualified purchase. They list a bunch of categories, and seem to show limits for each category.

So basically they are not 2% rewards on everything. Can anyone confirm this?

I think I'm sticking with my Capital One card for now, and sending the Fidelity card into my backup card position.

Take care, JP

[The Cosmic Avenger]

Quote:

Originally Posted by JP.mpls I recently applied for a Fidelity Visa with 2% rewards. It turns out they use points, not cashback. They also state 2% back on "qualified" purchases, but they are a little unclear regarding what is a qualified purchase. They list a bunch of categories, and seem to show limits for each category.

I opened the Fidelity Visa earlier this year, and I have yet to have any charge not get the 2% cash back. They use "points" because they do offer other ways to redeem it, but I have it set to deposit the cash in the Fidelity checking account that I use to pay that card anyway. (I would prefer a statement credit, but this doesn't really require any extra work anyway.)

Where did you see the categories?