Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Old 06-15-2021, 06:50 AM   #21
Thinks s/he gets paid by the post
 
Join Date: Aug 2007
Posts: 2,857
I have both the Marriott and IHG CC. I get a free night every year, which is cheaper than paying for a room directly. Due to the pandemic, they’ve extended the expiration date to use the free night.

I also use the Chase Sapphire Reserve CC. I signed up when there was a high bonus (100k) years ago. I pay the yearly fee, since it has good travel benefits and let’s me transfer points to partners. They also have a good discount on point redemptions for travel.

It’s a bit of work to find the best deal, but it’s saved me money. Well worth the effort.
__________________
Eat, Drink and Be Merry.
tulak is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 06-15-2021, 07:16 AM   #22
Thinks s/he gets paid by the post
Markola's Avatar
 
Join Date: Nov 2013
Location: Twin Cities
Posts: 3,927
If you’re already getting 2% cash back, how much is that in a year? You might have to go totally down the rabbit hole of travel points, spending all kinds of time, keeping track of spending on several cards and spending lots of time on websites looking for deals, to beat the plain old cash you’re already getting.

Some people love the game but I already get 1.5% cash back and am not sure I can justify the opportunity cost in the form of my time to make it all worthwhile. Those that do seem to use Chase points as the gold standard flexible currency for international travel and Southwest as the currency for domestic travel.
Markola is offline   Reply With Quote
Old 06-15-2021, 08:26 AM   #23
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
SecondCor521's Avatar
 
Join Date: Jun 2006
Location: Boise
Posts: 7,866
Quote:
Originally Posted by Markola View Post
If you’re already getting 2% cash back, how much is that in a year? You might have to go totally down the rabbit hole of travel points, spending all kinds of time, keeping track of spending on several cards and spending lots of time on websites looking for deals, to beat the plain old cash you’re already getting.

Some people love the game but I already get 1.5% cash back and am not sure I can justify the opportunity cost in the form of my time to make it all worthwhile. Those that do seem to use Chase points as the gold standard flexible currency for international travel and Southwest as the currency for domestic travel.
It depends on how much you spend. I use a plain 1.5% cash back just because it's easy. But I have arranged my lifestyle to be at a very low expense rate, so that 1.5% cash back really doesn't amount to much. The sign up bonuses I get are much higher relative to that 1.5% cash back number.

For higher spending levels, I can see why people work the cash back aspect of things. For lower spending levels, sign up bonuses are relatively more lucrative and therefore more likely to be worth the effort.
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
SecondCor521 is offline   Reply With Quote
Old 06-15-2021, 08:56 AM   #24
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 17,173
Quote:
Originally Posted by Markola View Post
If you’re already getting 2% cash back, how much is that in a year? You might have to go totally down the rabbit hole of travel points, spending all kinds of time, keeping track of spending on several cards and spending lots of time on websites looking for deals, to beat the plain old cash you’re already getting.

I tend to agree with Markola on this with exceptions. I do favor cash back because I can use the cash anywhere for anything and it doesn't expire. Also, it can't be devalued by a company that decides it has too many points floating around. (Yes, the Feds can devalue cash.)

I do spend about an hour every quarter figuring out which cash back cards are the best to use for what and re-configuring my wallet. I have several cash back cards that give 5% back on a rotating basis. Currently, I try to use my Discover Card for gas as it gives 5% back, otherwise I use my Costco card which is 4% on gas. Groceries are currently giving me 5% bank with my Chase Freedom Flex card. That will end later this year.

I have one hotel card with a fee - $59. It gives me one free night a year at at their mid level hotels. It also gets me a 'free' upgrade on my room at times. Unfortunately, this card is no longer being issued. It's replacement costs $79 and has a few increased benefits, but not enough for me to pay another $20 a year.

Example: On a recent five day road trip , I used my free hotel night. And got a free room upgrade. I got 3% back on other hotel and restaurant expenses while getting 5% back on gasoline. Big money? No. But, it's better than a kick in the pants.
__________________
Comparison is the thief of joy

The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline   Reply With Quote
Old 06-15-2021, 09:14 AM   #25
Recycles dryer sheets
BlueberryPie's Avatar
 
Join Date: Feb 2021
Posts: 259
I 100% agree, I already get 2% cashback through a Venture card, which technically only applies towards reimbursing yourself on travel expenses, but between gas, the occasional restaurant and hotel, I spend it all monthly and don't try to hoard it for miles/vacation/miles.

This is why I am specifically after the sig-up bonus for some of the cards, if I do get $1250 towards travel for spending $4K over 3 months, even with a $95 yearly fee, it's worth signing up and maybe closing the card at te end of the year.
BlueberryPie is offline   Reply With Quote
Old 06-15-2021, 09:15 AM   #26
Moderator
Aerides's Avatar
 
Join Date: Nov 2015
Posts: 13,879
Quote:
Originally Posted by Markola View Post
If you’re already getting 2% cash back, how much is that in a year? You might have to go totally down the rabbit hole of travel points, spending all kinds of time, keeping track of spending on several cards and spending lots of time on websites looking for deals, to beat the plain old cash you’re already getting.
Yup. And reward miles aren't often awesome. The flight you want might not be available, or not in the good bracket. True black outs aren't as common anymore, but you definitely run the risk of not getting the best times/routes.

With AA, international flights are for sure the better deal, mile per dollar etc., but often means I have to take a 3 leg trip instead of 2. Or the 5am flight instead of the 7am, or the one that arrives at 7pm instead of 2pm, stuff like that. And if the flight I want is available with miles, it's at a premium, where I have to spend another 50% mileage cost over the basic reward cost. So I generally use mine for upgrades.

And doing it now for a trip in a few months? Unlikely. You'd have to check the fine print but there's usually a period after the charges are fully billed and paid before the miles are credited. And if you want to fly and book at least 21 days in advance...the time all adds up.

So, yeah, travel rewards can be good, but they do require a lot more time investment than simple cash back, which, you can then use on anything, anytime.
Aerides is offline   Reply With Quote
Old 06-15-2021, 09:16 AM   #27
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Apr 2010
Posts: 5,862
Our primary premium card gives us 2 percent. Plus the usual rental car coverage.

But...two years ago we had to cancel a China trip because of a medical issue. I checked the card. Sure enough it had cancellation insurance. We submitted a claim and had a check in the mail for the full claim, $2K, within 15 business days.

First time ever we have used cancel insurance. The card turned out to be a winner for us.
brett is offline   Reply With Quote
Old 06-17-2021, 03:01 PM   #28
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,012
I just went to the Chase bank and got approved for the Sapphire preferred CC.
By doing at the bank, they waived the first year $95, plus give me a $50 grocery credit, and 100,000 points after spending $4K in three months.

I want to travel, and will now be ready with a good travel CC.

Unfortunately DW is funny about it, and didn't want to apply... but I'll still take her
__________________
Fortune favors the prepared mind. ... Louis Pasteur
Sunset is offline   Reply With Quote
Old 06-17-2021, 03:15 PM   #29
Recycles dryer sheets
 
Join Date: Apr 2021
Posts: 171
Quote:
Originally Posted by Sunset View Post
I just went to the Chase bank and got approved for the Sapphire preferred CC.
By doing at the bank, they waived the first year $95, plus give me a $50 grocery credit, and 100,000 points after spending $4K in three months.

I want to travel, and will now be ready with a good travel CC.

Unfortunately DW is funny about it, and didn't want to apply... but I'll still take her
You can each apply for your own card and end up with 200,000 points. Never do joint accounts because you will miss out on sign up bonuses. But you can get a card in her name for your acct to help meet your minimum spend. You can also put children/grandchildren on your account as card holder to boost their credit scores. My grandchildren have their own cards-that they dont really use. But they will have a well established credit history by the time they are 10. haha
Jenna is offline   Reply With Quote
Old 06-17-2021, 03:22 PM   #30
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,012
We each have our own CC and bank accounts. So that is what makes me feel she missed a good deal, as we could have doubled the bonus.
She said: "Why bother it's just more $$ to leave in the WILL".

Guess she hasn't seen the price of space flights
__________________
Fortune favors the prepared mind. ... Louis Pasteur
Sunset is offline   Reply With Quote
Old 06-17-2021, 05:42 PM   #31
Recycles dryer sheets
BlueberryPie's Avatar
 
Join Date: Feb 2021
Posts: 259
DW applied online but got an email they're reviewing the application. Doesn't bode well?
Last credit card i applied for was instantly approved, but my wife makes a lot less money (but funny enough has a credit score a few points higher than mine, but in the 800s, who is counting ...)
BlueberryPie is offline   Reply With Quote
Old 06-17-2021, 08:20 PM   #32
Full time employment: Posting here.
WestUniversity's Avatar
 
Join Date: Oct 2017
Posts: 717
We have a Mileage Plus card and we use it to pay for everything so that all of our normal spending helps us rack up a ton of points.

We have gotten a bunch of free flights. I say free but really there is an $11.20 fee that has to be paid regardless so actually the free tickets cost us $11.20.
__________________
Whatever failures I have known, whatever errors I have committed, whatever follies I have witnessed in private and public life have been the consequence of action without thought... - Bernard Baruch
WestUniversity is offline   Reply With Quote
Old 06-17-2021, 10:20 PM   #33
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,012
Quote:
Originally Posted by BlueberryPie View Post
DW applied online but got an email they're reviewing the application. Doesn't bode well?
Last credit card i applied for was instantly approved, but my wife makes a lot less money (but funny enough has a credit score a few points higher than mine, but in the 800s, who is counting ...)
Over a year ago or more, I applied for a CC online and got the dreaded ... Under review....

At that point I realized I had not temporarily unfrozen my credit reports.
At least it showed that freezing the credit reports really does stop a scammer from getting CC's in my name
__________________
Fortune favors the prepared mind. ... Louis Pasteur
Sunset is offline   Reply With Quote
Old 06-26-2021, 02:00 PM   #34
Recycles dryer sheets
BlueberryPie's Avatar
 
Join Date: Feb 2021
Posts: 259
Both wife and I got approved. I have other chase cards so I can see the last 4 digits of mine in the Chase app but no way to see the full number and start using it until the card shows up in the mail. Gotta charge $4K on each by the end of September to get our free $1k flights, so we'll be transferring all automatic payments to those for a while. Too bad i can't pay mortgage or kids college on a CC!

I know that Capital One let's you see you card number before you get a physical one so you can start using it right away
BlueberryPie is offline   Reply With Quote
Old 06-26-2021, 02:30 PM   #35
Thinks s/he gets paid by the post
 
Join Date: Aug 2010
Posts: 1,089
Quote:
Originally Posted by BlueberryPie View Post
Both wife and I got approved. I have other chase cards so I can see the last 4 digits of mine in the Chase app but no way to see the full number and start using it until the card shows up in the mail. Gotta charge $4K on each by the end of September to get our free $1k flights, so we'll be transferring all automatic payments to those for a while. Too bad i can't pay mortgage or kids college on a CC!

I know that Capital One let's you see you card number before you get a physical one so you can start using it right away
DW was pre-approved for Chase Sapphire Preferred card last month. So we put $2000 to pre-pay utilities. $2000 Costco cash card. Done with spending.

You can log on to chase and secure message them to expedite. You will get a UPS package with the new card in 2 days.
fh2000 is offline   Reply With Quote
Old 06-26-2021, 03:45 PM   #36
Recycles dryer sheets
BlueberryPie's Avatar
 
Join Date: Feb 2021
Posts: 259
I called to ask for my card number. They wouldn't tell me but they expedited the card as a result
All good.
BlueberryPie is offline   Reply With Quote
Old 06-27-2021, 02:35 AM   #37
Full time employment: Posting here.
YVRRocketSurgery's Avatar
 
Join Date: Dec 2015
Location: Vancouver
Posts: 915
Quote:
Originally Posted by brett View Post
Cancelled all three cards prior to the renewal date.
Not the expert on this but point of caution in cancelling prior to the 1 year renewal date. IIRC, I think I read on the Prince of Travel website that cancelling within a year is frowned upon by the credit card issuers and might impact your ability to sign up again. I suspect additional details like how much you spent on the card, etc will likely play a role too. It sounds like if you cancel within 1 month after your renewal date, you should be able to have the renewal fee cancelled and give you an opportunity to try for a retention offer. YMMV but I'm going to give it a go when my AMEX comes up for renewal.
__________________
Good Riddance. April 2022
"Yes, there's some shady stuff going down but it's fuelled by stupidity."
YVRRocketSurgery is offline   Reply With Quote
Does applying for a credit card for free travel really work?
Old 06-27-2021, 06:41 AM   #38
Thinks s/he gets paid by the post
Markola's Avatar
 
Join Date: Nov 2013
Location: Twin Cities
Posts: 3,927
Does applying for a credit card for free travel really work?

I’ve looked into them have decided, for maximum return-on-effort, I’m going for the highest no fee, cash-back cards. I have a 2% cash back Mastercard from Citi for DW and my general purchases on everything and is the only physical card we’ll carry around; a 5% cash back Prime Signature card dedicated to Amazon purchases in that app; and a Venmo Visa that gives 3% back for my top purchases category. I’m going to dedicate that card to groceries and use it only in the Instacart app. All of them are set up for automatic payoff and they sync well with my YNAB budgeting software.

Altogether, I will net north of 2% back or about $2,200/year, tax-free. That is more than we typically spend on domestic flights yet I don’t have to fool with chasing and tracking points, just a little set-up effort to make everything automatic.
Markola is offline   Reply With Quote
Old 06-27-2021, 08:37 AM   #39
Recycles dryer sheets
BlueberryPie's Avatar
 
Join Date: Feb 2021
Posts: 259
@YVRRocketSurgery, an interesting thought. Let us know if it works out as planned for you.

As I mentioned earlier, I am really singing for the sign-up bonus, not interested in using points long-term when I can get 2% back on everything and 5% from Amazon at all times and spend that on anything, including towards travel.

One thing I do want to check on is which card i want to keep in the end. I travel internationally and I believe the terms on international charges are better on my Venture card than on a Citi card, but I'd have to do the research. (Venture gets you 2 year of CLEAR airport security line bypass, which is worth the annual fee right there).
BlueberryPie is offline   Reply With Quote
Old 06-27-2021, 03:56 PM   #40
Confused about dryer sheets
 
Join Date: Jun 2013
Posts: 1
Quote:
Originally Posted by BlueberryPie View Post
Both wife and I got approved. I have other chase cards so I can see the last 4 digits of mine in the Chase app but no way to see the full number and start using it until the card shows up in the mail. Gotta charge $4K on each by the end of September to get our free $1k flights, so we'll be transferring all automatic payments to those for a while. Too bad i can't pay mortgage or kids college on a CC!

I know that Capital One let's you see you card number before you get a physical one so you can start using it right away
Will the convenience checks not work for college and cc payments?

Sent from my moto g play (2021) using Early Retirement Forum mobile app
C4B1 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
fidelity credit card -elan -free credit score mathjak107 FIRE and Money 7 09-13-2017 07:15 AM
Medicare card -How long does it take to get card after applying via the web? template Health and Early Retirement 15 09-17-2016 06:20 PM
Pre Paid Credit Card/ Gas Card or Credit Card nphx Other topics 4 04-29-2008 01:04 PM
Applying for a Credit Card in ER Oliver FIRE and Money 10 10-04-2007 03:13 PM
how does the credit card float actually work in regards to billings ? zuki FIRE and Money 10 09-15-2005 11:41 AM

» Quick Links

 
All times are GMT -6. The time now is 04:43 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.