I love credit cards so much!

[Haley R]

are u willing to place ur money in multiple accounts? there are a few 5% accounts that hold only 5k with no debit transactions. u just need to ach $1 or any amount to keep the account active. i would get those first.

i have a 3% at consumer credit union. it’s up to 10k. 12 debit transaction, i do $.50 reloads on amazon.

i know there’s another 3% up to 15k with 15 transactions. i forgot what bank though.

I think we would rather keep it in one account if possible. Someone mentioned the Heritage Bank and I contacted them. They told me they don't have a minimum for each transaction, but certain stores will (which I already knew). I think they might be a good option for us. I haven't had the chance to talk to DH about it yet.

 

[Haley R]

Congrats! This DP is also encouraging to me, because my stats are similar. I have CIP $12K CL opened 9/2017, and Marriott Biz $5K CL opened 2/2018. I lowered CLs on a few of my personal Chase cards last Friday as well to prep for applying for CIC. I don't know if that's enough time for those lower limits to show on my credit report but at least they will be in Chase's records if I need to recon. I'm waiting until Friday because I got SPG personal on 4/18, so on Friday it will be 30 days.


It wasn't actually a far distance, but we're in Brooklyn and the play was in Manhattan. Traffic was terrible going into/out of midtown (as usual). It would be a lot faster to take the subway, but we'd need A LOT of chaperones to do that with the whole third grade. And it'd be super stressful for the adults. As it was, we ended up getting off the bus and walking the last 2 blocks to the theater so we wouldn't be late for the show and that was stressful enough with our group of 27 kids and 4 adults.


True, 25K SPG points is a much better bonus than a $200 statement credit. But if they do go back to point bonuses on that card, I don't even want to know what it is since I won't be able to get it.


Our PTA accepts PayPal, but field trip money goes to the teacher and has to be cash. At least I can pay for after school programs with a CC through PayPal, since that's run by the PTA. And it's not cheap!




This is good to know. I signed up for a Memory Bank account for myself, but didn't think about doing one for DW as well. I'll wait until I (hopefully!) get a CIC since I can get her an employee card to fund it without affecting her 5/24 status.


I need to look into higher interest bank accounts. I've had CapOne360 checking & savings accounts since it was still ING Bank and have just kept it, even as the interest rates continued to decrease, because I have so many things set up on those accounts. I will probably keep CapOne as my main checking account that bills are paid from, since that money doesn't sit in the account for very long, but would like to move my various savings accounts (especially the kids' accounts) into something that will earn more interest.

I couldn't imagine taking a bunch of 3rd graders on the subway lol. I've never even been on a subway before.

 

[speedyfishy]

How quickly can I apply for CIC/CIP if I got CSP 1/18 and SPG Amex 2/18? And both (all) my CC have fairly high limits (like $25k and above). Should I start to reduce those first? Utilization rate is 0% right now. Also, should I see if I can change my Chase Freedom Unlimited to just a Chase Freedom to get these 5% off categories. I spend nearly $1,000/mo in groceries alone, and about $600-$800 in gas. I'd love to get 5% back on that...

You are probably good to go on a CIP or CIC application. You have to pick one. Are you approaching 50% of your income available as a credit limit with your Chase cards? Chase typically won’t extend more than 50% of your icome to you in credit. There are exceptions, but if you are approaching that then I’d consider lowering it if you want to get an auto approval and you are at 50%.

Are you 2/24? When did you get the Freedom unlimited? What are your plans to getting over 5/24? If you don’t have a lot of other Chase cards that you want I’d consider applying to the Freedom. But it probably makes more sense to product Chase especially if you are targeting Chase cards with a higher bonus. If you have no desire for the other Chase cards that are subject to 5/24 might as well get the $150 bonus.

ETA: when determining if you have 50% of your income extended to you, Chase only cares about what they issued to you so they won’t look at your Amex card.

 

[thevalley]

Ok this is somewhat of a challenge for me to type out my thought process on this but I'll do my best...

So if you downgrade the CSR to a CF or CFU you are losing the 1.5x redemption option. Here's the factors that would warrant consideration:

• IF you plan to transfer URs to a partner (i.e. Southwest, Hyatt, Marriott) then the 1.5x vs. 1.25x means nothing to you
• IF you plan to redeem URs through the portal using the 1.50x then that's a different story
• You can get a CSR (your wife can) in approx. a year so you would be without the 1.5x option during that time if you downgraded
• You can downgrade the CSP to a CF/CFU with no worries since you have a CIP and it also has the 1.25x redemption option
• You also need to factor in the CSR AF (I'd use $150 since you get the travel credit) and keeping it needs to generate greater than that in value

Truthfully it comes down to (1) how do you plan to redeem URs (2) how many URs do you have/plan to redeem (3) do you plan to redeem using the 1.50 option in the next year.

If I knew every fact of your situation, there probably is a definitive right answer but I'd have to ask so many it'd be crazy hahaha! You probably wouldn't be drastically wrong to keep the CSR...OR to downgrade the CSR. I would definitely downgrade the CSP since CIP gives the same primary benefit (IMO).

Wow!!!

Ok this is somewhat of a challenge for me to type out my thought process on this but I'll do my best...

So if you downgrade the CSR to a CF or CFU you are losing the 1.5x redemption option. Here's the factors that would warrant consideration:

• IF you plan to transfer URs to a partner (i.e. Southwest, Hyatt, Marriott) then the 1.5x vs. 1.25x means nothing to you
• IF you plan to redeem URs through the portal using the 1.50x then that's a different story
• You can get a CSR (your wife can) in approx. a year so you would be without the 1.5x option during that time if you downgraded
• You can downgrade the CSP to a CF/CFU with no worries since you have a CIP and it also has the 1.25x redemption option
• You also need to factor in the CSR AF (I'd use $150 since you get the travel credit) and keeping it needs to generate greater than that in value

Truthfully it comes down to (1) how do you plan to redeem URs (2) how many URs do you have/plan to redeem (3) do you plan to redeem using the 1.50 option in the next year.

If I knew every fact of your situation, there probably is a definitive right answer but I'd have to ask so many it'd be crazy hahaha! You probably wouldn't be drastically wrong to keep the CSR...OR to downgrade the CSR. I would definitely downgrade the CSP since CIP gives the same primary benefit (IMO).

Wow!!Thank you for such a detailed response. Now that WDW is paid for, my only hopes would be Hawaii for 2020. I think I am in currently just hoarding the points. I really don't have a specific use for UR at the moment. I think that's why this decision is harder than I think. I know the CSR is an awesome card but wasn't sure if pc and keeping the csp was wise. DW could get it I hope in a year and that would be ok to transfer points and what not then. my only concern is that DW is a stay at home mom and didn't know if that would hurt her chances. As of last night, I applied for and was approved or the Hilton biz. We will be staying there a few times this year. the family likes the cookies at the double tree. lol The magic eight balls would look like this: Hawaii flying on SW and using Marriott/spg and Hilton points for vacation packages or rooms. If something changes with SW then I would really look into another airline and get those points. Living in Northern Virginia we have 3 airports so pretty flexible there.

 

[schmass]

How quickly can I apply for CIC/CIP if I got CSP 1/18 and SPG Amex 2/18? And both (all) my CC have fairly high limits (like $25k and above). Should I start to reduce those first? Utilization rate is 0% right now. Also, should I see if I can change my Chase Freedom Unlimited to just a Chase Freedom to get these 5% off categories. I spend nearly $1,000/mo in groceries alone, and about $600-$800 in gas. I'd love to get 5% back on that...

My stats are similar to yours. I got the CSR and a JetBlue card 1/18 and applied for the CIC yesterday and was approved!

 

[Gwmw1210]

I definitely enjoyed the freedom of being >5/24 - it's where I was back in 2016 and I ended up getting 22 cards (just me) in that year hahaha! Up to this point my primary strategy was get my wife < 5/24. And we achieved that by focusing on me and on a lot of AMEX biz cards.

I think my concept of having a very defined strategy is stemming from the shutdown reports which continue to grow. I know the likelihood is small that it would happen to us (and it seems having a mortgage makes you a little safer) but some of the people shutdown are only opening 5 or 6 cards in a year...

This may already be known by many but please help me understand how are you (not specifically you but anybody) able to continue to apply without running out of cards to get. Or a bank saying you have too much credit open? If you don't mind sharing.

 

[wendow]

I did this too...but on purpose! I just couldn't pass up the UR. I did one mortgage payment on the SPG Biz and it killed me to pay the fee so I found other ways to meet the MSR. Luckily my work will let me buy material for projects with my card and then reimburse me.

You are SO lucky with that! I love that your boss is allowing that for you I got nothing like that though lol so while I hate paying the Amex fee, it's worth it to me to get that MSR done without stress. Cause now I am stressing! I'm going to chat with Amex again too cause you and I opened our biz cards within a day or two of each other and yet, we have MSR dates given by Amex that are like 3 weeks apart. I need to know now what my for real date is!!

 

[speedyfishy]

This may already be known by many but please help me understand how are you (not specifically you but anybody) able to continue to apply without running out of cards to get. Or a bank saying you have too much credit open?

There are lots of different cards out there, so finding new cards isn’t really the problem. You can also close a card and reopen it. This is harder to do nowadays. But some banks are picky and have rules that we have to follow or they will deny us. Others give anyone with a pulse cards..... ie) Amex

 

[amalone1013]

The 9-digit Citi AA mailers that half of /r/churning is using to amass hundreds of thousands of AA miles?!

Just looked at the one I kept and it has a 12 digit invitation number... I really haven't paid much attention because 1. Chase and 5/25 and 2. I have no concrete use for AA miles right now...

The mythical 100k MR Platinum offer that I’ve spent hours trying to trick my way to pulling up online?!?!

Seriously though, check out the expiration date and see about working that into your plans. My first Plat took 2 statements to show up on my credit reports and my MB Plat from April looks like it’ll do the same (first statement already cut, but it’s still not on my credit reports). That’s likely two months after you apply that you can do what you gotta do before Chase counts the Plat against DH. There are DPs that Amex may still honor the offer after the expiration date if you call in and reference the mailer, but YMMV.

I can't believe it, I must have just skimmed right over it when it came! It's got an expiration of April 19th If it was good I'd probably jump on right now and apply for him at work and just tell him after.... I held onto it in case I could use it as leverage to get it in a phone call, but it'd be really hard to get him to call for that. I'll probably go put the invitation number in just for the heck of it now. DH is 3/24 right now and I was mainly just planning on keeping him open to try and get a CP for 2019/2020, and right now with no more cards he's going to be 1/24 in September. I think I'd go ahead and burn a slot for the Platinum and try to learn how MRs work!

 

[DisneyMandC]

How in the heck did I put $1000 on my CIP in two weeks... And here I was a little worried about having to meet MSRs on my CIP and DH's CIC

 

[Albort]

I think we would rather keep it in one account if possible. Someone mentioned the Heritage Bank and I contacted them. They told me they don't have a minimum for each transaction, but certain stores will (which I already knew). I think they might be a good option for us. I haven't had the chance to talk to DH about it yet.

https://www.doctorofcredit.com/high...t/#Mega_High-Interest_Options_8211_Nationwide

 

[SouthFayetteFan]

Wow!!!

Wow!!Thank you for such a detailed response. Now that WDW is paid for, my only hopes would be Hawaii for 2020. I think I am in currently just hoarding the points. I really don't have a specific use for UR at the moment. I think that's why this decision is harder than I think. I know the CSR is an awesome card but wasn't sure if pc and keeping the csp was wise. DW could get it I hope in a year and that would be ok to transfer points and what not then. my only concern is that DW is a stay at home mom and didn't know if that would hurt her chances. As of last night, I applied for and was approved or the Hilton biz. We will be staying there a few times this year. the family likes the cookies at the double tree. lol The magic eight balls would look like this: Hawaii flying on SW and using Marriott/spg and Hilton points for vacation packages or rooms. If something changes with SW then I would really look into another airline and get those points. Living in Northern Virginia we have 3 airports so pretty flexible there.

So I'm going to say you should downgrade your CSR and CSP and avoid all fees based on the following:

• Your next big redemption is Hawaii in 2020
• Your wife can get a CSR in 2019 - you can use your household income when applying, many SAHMs (stay at home moms) here have CSR cards
• You are in a period of building up your URs but not using them in the next 12 months
• You can likely upgrade to a CSR again in the future if something changes before 2019
• You may plan to transfer your URs to Marriott and/or Southwest for the Hawaii trip so the 1.5x means nothing in that instance
• You have a CIP in your back pocket which still allows the 1:1 transfers to partners
• In a pinch you could redeem for travel through your CIP at 1.25x. Of course this is less than 1.5x but that's a difference of $25 per 10,000 URs redeemed and you currently have no plans to redeem that way anyways.

If you already have a CFU you may want to make them both CF cards. Or maybe you want one of each if you don't have a CFU yet.

 

[amalone1013]

No go with the invitation code online, as I expected.

But seriously:

 

[disneymagicgirl]

How quickly can I apply for CIC/CIP if I got CSP 1/18 and SPG Amex 2/18? And both (all) my CC have fairly high limits (like $25k and above). Should I start to reduce those first? Utilization rate is 0% right now. Also, should I see if I can change my Chase Freedom Unlimited to just a Chase Freedom to get these 5% off categories. I spend nearly $1,000/mo in groceries alone, and about $600-$800 in gas. I'd love to get 5% back on that...

Are those the only 2 cards you've gotten in the last 24 months? If so, you can app for the CIC or CIP now.
What % of household income is your total chase CL? Drop it to under 50%, 30% if you want to be super conservative, and that should help with the auto-approval.
I would def PC the CFU to a CF.

ETA: as usual I am too slow and @speedyfishy already replied

 

[platamama]

ETA: I did preemptively lower the CL on one of my cards by $10k a month before. Maybe that helped?

Do you recall if you lowered the CL on a personal card or a business card? Congrats on the CIC!

 

[SouthFayetteFan]

This may already be known by many but please help me understand how are you (not specifically you but anybody) able to continue to apply without running out of cards to get. Or a bank saying you have too much credit open? If you don't mind sharing.

So I haven't updated this in the last 5 months but this is a list of all our cards since I began churning: https://www.reddit.com/r/DISchurner...rdsnot_a_soap_opera_just_a_thread_to/dr26t3c/

Since that post we've picked up a Delta Gold Biz, a 2nd Blue Biz+ and a CIP. There are SO many cards out there, it's crazy! A lot of my experience was in a different era of churning though. For many newer folks to the game it's hard to imagine a time without 5/24 - it was much easier then. BofA also used to hand out cards like candy which contributed to a lot of my cards. Therefore, I would go for any and every offer. $150 cashback on $500...sign me up! $200 on $1,000 sign me up! Hilton points I'm not even sure where I'll use them...sign me up! I once applied for 5 cards in a 5 day period (and 7 cards in a 40 day period), it was like the wild west!

Nowadays, I would say a more realistic approach in 2 player mode is to alternate applications, and alternate personal and biz cards. Also, it makes sense to focus on the higher offers and higher MSRs since that naturally "slows" things. I think it would be reasonable to go for 7-10 cards a year using this method. (No more than 5 cards per player).

 

[disneymagicgirl]

This may already be known by many but please help me understand how are you (not specifically you but anybody) able to continue to apply without running out of cards to get. Or a bank saying you have too much credit open? If you don't mind sharing.

I have way less cards than most people here, so it hasn't been an issue yet. But I think closing many of them at the 1 year mark helps. If your total CL is getting too high, you can request to have the CL decreased.

 

[Jen and Ashwin]

How quickly can I apply for CIC/CIP if I got CSP 1/18 and SPG Amex 2/18? And both (all) my CC have fairly high limits (like $25k and above). Should I start to reduce those first? Utilization rate is 0% right now. Also, should I see if I can change my Chase Freedom Unlimited to just a Chase Freedom to get these 5% off categories. I spend nearly $1,000/mo in groceries alone, and about $600-$800 in gas. I'd love to get 5% back on that...

Just wanted to note that grocery is a category until the end of June, but gas was last quarter so you won’t likely see that again this year.

ETA: The quarterly bonus is capped at $1500 in spending, so you would burn through that pretty quickly as well.

 

[vanjust14]

You are SO lucky with that! I love that your boss is allowing that for you I got nothing like that though lol so while I hate paying the Amex fee, it's worth it to me to get that MSR done without stress. Cause now I am stressing! I'm going to chat with Amex again too cause you and I opened our biz cards within a day or two of each other and yet, we have MSR dates given by Amex that are like 3 weeks apart. I need to know now what my for real date is!!

I know, that is strange. I counted mine and the date was exactly 92 days from when I opened the card. Let me know what they say!

 

[disneymagicgirl]

Few things to report.

The bonuses for DH and my Memory Bank accounts just posted! That was a pretty easy $200. I just pushed $200 from our Chase checking to each Memory Bank account, once per day for 3 days in a row. For those interested in trying out bank bonuses, this is a great one to start with since it has no fees and you can fund $500 with a credit card. Find info here: https://www.doctorofcredit.com/memorybank-100-signup-bonus-earnmore-1-6-apy-checking/

I am going to do this for my first bonus today. Do you have a "hub" account like I see referenced here? Can I push money from my Wells Fargo savings over to memory like you did with your Chase?

I think I am going to do the Citibank one too. It looks like I just have to park $5k there for 60 days and I get the bonus. That seems too easy.

ETA: Oh wait, I can do $15k for $400 bonus. even better.

Yeah. I have 2 email addresses and check them many times a day. They were listed correctly on AMEX site.

I have had an offer fail to credit before. I just open a chat window and they have always credited me. It happened recently when I bought Mother's Day flowers for my mom on 1800flowers, but I accidentally checked out with Paypal using my Amex. I told them the transaction date and they confirmed that I had made the purchase. I got the $15 credit the next day, no issues.

Did you check to see if your offer has disappeared from the saved offers? I know I am sounding like 'Mom' here, but if it is still in saved offers, something may not have triggered.

No confirmation here either. Wouldn't be the first time that I didn't receive the email, but the credit showed up a few days later. Hope that will happen this time.

My sams purchase posted and I don't see the credit pending either. I am about to place an online order for grocery stuff today so maybe it will trigger on that instead. If not, I will just message them. They had to manually credit me once before for a Caspar deal.