I love credit cards so much!

[amalone1013]

I'm sad that the estimator was very low on my car at $1950 because my repair shop just turned in their supplemental estimate at $5500...

 

[SouthFayetteFan]

I seem to remember a little hubbub about this when the CIP launched, but I never saw any positive DPs of someone getting another one. My guess is if someone tried they would have been denied the bonus even if the language wasn't there, but who knows.



Yeah, people apply for an EIN or two with a fake "business" and use it to self-refer for another CIP or two (and every other Chase biz card as well). Gotta say, that makes me super duper uncomfortable. I'm sure it's all well and good, but as an accountant I'm never thrilled with involving the IRS in anything more than necessary, you know? They're the one government agency that will not hesitate to come after you if necessary, and I'm not particularly interested in having the IRS sniff around this whole churning deal.

Once I found the reddit thread on it I remembered what happened. Somebody thought they'd found a loophole but the language was still there...apparently some blogs ran with it but didn't correct their posts (and now when I tried to google it those where the first hits...of course...smh).

I also agree on being uncomfortable with the EIN method. I obviously "loosely" mentioned it in my one comment because it is factually an option to a 2nd CIP but I personally would NEVER advise somebody to do that as a strategy for all the reasons you mentioned. I also look at it through my banker's lens (I'm a business banker) and it makes me feel uneasy there too.

 

[disneymagicgirl]

So you're saying I'd have to spend $1k a month on a credit card? While Plastiq sounds appealing, I do not like that they charge a fee. It doesn't seem I'd make enough in reward points to cover the fee.

I'm a little puzzled on all the abbreviations. Would you mind explaining those please?

MSR- min spend requirement
SW- southwest
CFU- chase freedom unlimited

The fee charged by plastiq is much smaller than the bonus you will receive. See the example below and @Lain's write-up on dischurners.

Lets take my mortgage for example:
It is approx $4000. I go thru plastiq/Chase Ink Preferred. This isn't even for a sign up bonus...I do this monthly because it is a net profit for me. I get 12k ultimate reward points worth $120 if I cash them out. However, I wouldn't cash them out because that is less lucrative. So I redeem them on the chase portal using a chase sapphire reserve card for a cruise (or any other travel) and they are worth $180. The fee I paid plastiq was $100 (2.5%). So my net profit is $80 of free travel dollars.
There are other ways to redeem netting various amounts by transferring them to all the various travel partners.

 

[platamama]

SPG Lux isn't going to be viable since I received the SPG in November of last year.

I don't think your previous SPG card will keep you from getting the SPG Lux. See FM's post today on the subject.

https://frequentmiler.boardingarea.com/2018/07/30/navigating-marriotts-byzantine-credit-card-rules/

But these are good points too from @miztressuz.

I'd think it's the difference in AF for the extra 50k points, extra $351; plus the rumored higher spend of 5k vs 3k in 3 months. If you planned to spend the $300 SPG/Marriott credit anyway in the year and can make the spend I'd go that way too. But if not, it's really hard to justify the AF on that card. (at least for me)

 

[wendow]

Yay! Used my BGR to refer my dh to the Biz Green! So, do I have the MR's we earn all correct...I get 10k for each of the referrals...so 20k and then 5k each once we make a purchase? 30k total? Why did I see @Angrose say that she got 40k? Is there another way to earn more?

Thanks to all who shared about this! Still not sure what I am doing with these MR's but I'm growing a nice stash and I know they will be useful someday

 

[DizMe]

I am an absolute novice but have been told to defer my questions to you brilliant people.

First, I have a Disney cc with no annual fee. I rarely use it and don't really want it; just got it for the $250 bonus. I've had it about 5 years. I'd really like to get a good rewards card as we plan to do more international travel and, well, I just like rewards. Can I ditch the Disney card and apply for something like a Chase Sapphire or Ink card, or should I keep the Disney card? Which reward card would you recommend for a person who is 62 but still has 2 16-year-olds at home and an 18-year-old leaving for college this week?

Info on me: I'm retired (but make money with my knitting), my credit score is about 820, I have several cc's (BB, Kohls, Penneys, SW) and rarely use anything but the SW and Kohls on occasion. I don't know what to do with them--keep or dump some? I signed up dh last Sept for the SW 60,000 pts x 2 to get CP for 2 years. I know if I cancel my SW card this fall I can maybe reapply in a year to do something similar and extend our CP, but it's all confusing to me.

Finally, I am going to be paying on DD's college apartment but they charge a very hefty fee for using a cc; any way to circumvent that and earn points? I see mention of Platiq but I don't know what that is.

 

[Albort]

I am an absolute novice but have been told to defer my questions to you brilliant people.

First, I have a Disney cc with no annual fee. I rarely use it and don't really want it; just got it for the $250 bonus. I've had it about 5 years. I'd really like to get a good rewards card as we plan to do more international travel and, well, I just like rewards. Can I ditch the Disney card and apply for something like a Chase Sapphire or Ink card, or should I keep the Disney card? Which reward card would you recommend for a person who is 62 but still has 2 16-year-olds at home and an 18-year-old leaving for college this week?

Info on me: I'm retired (but make money with my knitting), my credit score is about 820, I have several cc's (BB, Kohls, Penneys, SW) and rarely use anything but the SW and Kohls on occasion. I don't know what to do with them--keep or dump some? I signed up dh last Sept for the SW 60,000 pts x 2 to get CP for 2 years. I know if I cancel my SW card this fall I can maybe reapply in a year to do something similar and extend our CP, but it's all confusing to me.

Finally, I am going to be paying on DD's college apartment but they charge a very hefty fee for using a cc; any way to circumvent that and earn points? I see mention of Platiq but I don't know what that is.

location? It would be good to know what flights are available from whatever city your in. a good destination also helps us isolate what airline u should earn your rewards in. Is Business class in mind or do u just want to fly in economy.
I wouldnt bother cancelling your Disney card, u never know when u may use it. dont those disney cards allow u to get into some photo shoots at Disney? It the credit is the problem, id probably transfer those credit over to another chase credit card, leave like $500 limit on it for the sake of making your AoA look better.

make money with knitting huh? i see some biz cards coming your way!

 

[Lain]

Yay! Used my BGR to refer my dh to the Biz Green! So, do I have the MR's we earn all correct...I get 10k for each of the referrals...so 20k and then 5k each once we make a purchase? 30k total? Why did I see @Angrose say that she got 40k? Is there another way to earn more?

Thanks to all who shared about this! Still not sure what I am doing with these MR's but I'm growing a nice stash and I know they will be useful someday

The referred Biz Green has been double crediting the 5k MR bonus. That’s where @Angrose got the extra 10k MR across two referred Biz Green cards.

You should get 10k in your account for your self-referral, 10k in your account for referring DH, 2x 5k bonuses for your self-referred Biz Green. DH will have at least one of the 5k bonuses from the Biz Green go into his MR account (not sure about the other 5k). But remember, you can’t combine MR points across accounts.

 

[WVMomof3]

I am an absolute novice but have been told to defer my questions to you brilliant people.

First, I have a Disney cc with no annual fee. I rarely use it and don't really want it; just got it for the $250 bonus. I've had it about 5 years. I'd really like to get a good rewards card as we plan to do more international travel and, well, I just like rewards. Can I ditch the Disney card and apply for something like a Chase Sapphire or Ink card, or should I keep the Disney card? Which reward card would you recommend for a person who is 62 but still has 2 16-year-olds at home and an 18-year-old leaving for college this week?

Info on me: I'm retired (but make money with my knitting), my credit score is about 820, I have several cc's (BB, Kohls, Penneys, SW) and rarely use anything but the SW and Kohls on occasion. I don't know what to do with them--keep or dump some? I signed up dh last Sept for the SW 60,000 pts x 2 to get CP for 2 years. I know if I cancel my SW card this fall I can maybe reapply in a year to do something similar and extend our CP, but it's all confusing to me.

Finally, I am going to be paying on DD's college apartment but they charge a very hefty fee for using a cc; any way to circumvent that and earn points? I see mention of Platiq but I don't know what that is.

Yay, you came over! Welcome. You will need to tell us what cards you have and what you have gotten in the last 24 months. I will tell you that with your stats and your business of knitting, I think you will overwhelming be told to start with the CIP. And bonus - you can pay your DDs rent through plastic on the CIP and earn more points than the fee, 2.5% fee but CIP currently gets 3% back with Plastic. Plastic is a way to pay with check through your CC when the merchant does not take CCs.

Edited to add you can not get most Chase cards if you have gotten more than 5 CCs in the last 24 months. Which is why we need your stats for suggestions.

 

[trstno1]

Thanks. Discover is one card we don't have anymore. Had one years ago, but cancelled it.

You could apply for a DiscoverIt or a DiscoverIt Miles card. Either one should double the bonus during the first year of ownership. It might be worth it if you are planning $3000 worth of computer, maybe not so much if you are looking at spending $1000. There's no minimum spend, which is nice, but it takes up a 5/24 slot.

Discover is also a good way to purchase Disney gift cards if you have that need in your near future (once or twice a year there is usually a quarterly bonus of 5% back at discount clubs like Sam's or BJ's - doubling the cashback bonus and adding the Sam's/BJ's discount nets you 14.5% off the base price).

 

[wendow]

I am an absolute novice but have been told to defer my questions to you brilliant people.

First, I have a Disney cc with no annual fee. I rarely use it and don't really want it; just got it for the $250 bonus. I've had it about 5 years. I'd really like to get a good rewards card as we plan to do more international travel and, well, I just like rewards. Can I ditch the Disney card and apply for something like a Chase Sapphire or Ink card, or should I keep the Disney card? Which reward card would you recommend for a person who is 62 but still has 2 16-year-olds at home and an 18-year-old leaving for college this week?

Info on me: I'm retired (but make money with my knitting), my credit score is about 820, I have several cc's (BB, Kohls, Penneys, SW) and rarely use anything but the SW and Kohls on occasion. I don't know what to do with them--keep or dump some? I signed up dh last Sept for the SW 60,000 pts x 2 to get CP for 2 years. I know if I cancel my SW card this fall I can maybe reapply in a year to do something similar and extend our CP, but it's all confusing to me.

Finally, I am going to be paying on DD's college apartment but they charge a very hefty fee for using a cc; any way to circumvent that and earn points? I see mention of Platiq but I don't know what that is.

Welcome! I saw your post on the main budget board but hadn't had a chance to read it. Glad you got some advice to check in here

We are all going to encourage the same card...the CIP...You have a legit business, and the 80k UR's you earn from it is a wonderful way to begin your UR stash!

You mention you've had the Disney card for 5 years (yes, you can close it) and that you got the two SW cards last fall. Can you share what other cards have been opened in the last 24 mos?

 

[wendow]

You should get 10k in your account for your self-referral, 10k in your account for referring DH, 2x 5k bonuses for your self-referred Biz Green. DH will have at least one of the 5k bonuses from the Biz Green go into his MR account (not sure about the other 5k). But remember, you can’t combine MR points across accounts.

I think I wasn't clear, and was confused lol...I didn't refer my dh for the BGR...just the Biz Green. So, it's one less 10k, right?

 

[Lain]

I am an absolute novice but have been told to defer my questions to you brilliant people.

First, I have a Disney cc with no annual fee. I rarely use it and don't really want it; just got it for the $250 bonus. I've had it about 5 years. I'd really like to get a good rewards card as we plan to do more international travel and, well, I just like rewards. Can I ditch the Disney card and apply for something like a Chase Sapphire or Ink card, or should I keep the Disney card? Which reward card would you recommend for a person who is 62 but still has 2 16-year-olds at home and an 18-year-old leaving for college this week?

Info on me: I'm retired (but make money with my knitting), my credit score is about 820, I have several cc's (BB, Kohls, Penneys, SW) and rarely use anything but the SW and Kohls on occasion. I don't know what to do with them--keep or dump some? I signed up dh last Sept for the SW 60,000 pts x 2 to get CP for 2 years. I know if I cancel my SW card this fall I can maybe reapply in a year to do something similar and extend our CP, but it's all confusing to me.

Finally, I am going to be paying on DD's college apartment but they charge a very hefty fee for using a cc; any way to circumvent that and earn points? I see mention of Platiq but I don't know what that is.

My quick take:

1. You have a knitting business. Let’s find a category for it and get you approved for the Chase Ink Business Preferred credit card (the “CIP”) for a 80k Ultimate Rewards points signup bonus. This is worth $800 in cash, and potentially as much as $1,200 if redeemed for travel.

2. Rent is an ideal expense to be paid for through Plastiq! In the future, you can use this method to pay college tuition too, and any other bill that doesn’t accept credit cards of has a higher than 2.5% fee. Basically, you use your credit card to pay Plastiq the rent/tuition amount and a 2.5% fee, Plastiq sends out a check to your DD’s landlord/property manager or college bursar, but if you pay with a CIP you’ll make at least 3% back in points on the rent/tuition payment and fee, which more than makes up for the fee, and those points can be worth 25-50% more when redeemed for travel.

If you’re signed up for our DISchurners group on Reddit, we have a guide to Plastiq that should help you understand more of the details. And you’ll find links to apply for the CIP that’ll show thanks back to this community.

 

[familyman123]

I don't think your previous SPG card will keep you from getting the SPG Lux. See FM's post today on the subject.

https://frequentmiler.boardingarea.com/2018/07/30/navigating-marriotts-byzantine-credit-card-rules/.

Thanks for the link - I thought I would be out on the SPG Lux due to the SPG. I must have misread the restrictions. I am still reluctant since I typically don't spend $300 on Marriotts in a year which is what it would take for me to justify the annual fee.

 

[Lain]

I think I wasn't clear, and was confused lol...I didn't refer my dh for the BGR...just the Biz Green. So, it's one less 10k, right?

If you referred DH to the Biz Green from your BGR, you get the BGR’s 10k referral bonus even though DH signed up for only the Biz Green.

 

[Albort]

Thanks for the link - I thought I would be out on the SPG Lux due to the SPG. I must have misread the restrictions. I am still reluctant since I typically don't spend $300 on Marriotts in a year which is what it would take for me to justify the annual fee.

think of it as a free night up to $300.

 

[platamama]

Thanks for the link - I thought I would be out on the SPG Lux due to the SPG. I must have misread the restrictions. I am still reluctant since I typically don't spend $300 on Marriotts in a year which is what it would take for me to justify the annual fee.

The Swan and Dolphin are going to be Marriotts on 8/16 when the programs merge. 130,000 points ($125K sign up plus $5K spend) would be enough for 2 nights at Swan or Dolphin, whereas the Marriott card would only get you 1 night. And the $300 credit on the SPG Lux would get you 1-2 nights at Swan or Dolphin, depending on your travel dates. So you're really looking at a difference of $50 AF for 2-3 more nights at Swan/Dolphin with the SPG Lux compared to the Marriott card.

 

[miztressuz]

I am an absolute novice but have been told to defer my questions to you brilliant people.

First, I have a Disney cc with no annual fee. I rarely use it and don't really want it; just got it for the $250 bonus. I've had it about 5 years. I'd really like to get a good rewards card as we plan to do more international travel and, well, I just like rewards. Can I ditch the Disney card and apply for something like a Chase Sapphire or Ink card, or should I keep the Disney card? Which reward card would you recommend for a person who is 62 but still has 2 16-year-olds at home and an 18-year-old leaving for college this week?

Info on me: I'm retired (but make money with my knitting), my credit score is about 820, I have several cc's (BB, Kohls, Penneys, SW) and rarely use anything but the SW and Kohls on occasion. I don't know what to do with them--keep or dump some? I signed up dh last Sept for the SW 60,000 pts x 2 to get CP for 2 years. I know if I cancel my SW card this fall I can maybe reapply in a year to do something similar and extend our CP, but it's all confusing to me.

Finally, I am going to be paying on DD's college apartment but they charge a very hefty fee for using a cc; any way to circumvent that and earn points? I see mention of Platiq but I don't know what that is.

I wouldn't cancel cards just from non use. For the Disney can't hurt to keep it around for Disney trips for the perks and just make an occasional charge to it to keep it active. But otherwise it could sit in a sock drawer and give something for the sock monkeys to play with

I think you're in a good place with many options, but knowing what you may like to do would help some. The most flexible option seems to be Ultimate Rewards (UR) points, which is your Chase Sapphire or Ink cards you mentioned. Since Chase has some of the more restrictive rules to getting cards of the mainstream issuers, they generally get suggested first (and for good reason) But AmEx Member Rewards (MR) or other AmEx co-branded cards can be helpful if you use specific airlines or hotels a lot. SW is great, but quite lacking for international travel. Do you know roughly what airlines are available for where your are and where you want to go? Plus all other kinds of seemingly invasive personal questions we'll throw out at you to try to decide what's your best strategy

Since you have a business I'm sure the Ink Preferred will be first thing suggested, and again for good reasons; but I'm sure you don't want to just apply for things willy nilly because some nice folks told you to. If we get more background we can help you devise a roadmap to your goals.

 

[wendow]

If you referred DH to the Biz Green from your BGR, you get the BGR’s 10k referral bonus even though DH signed up for only the Biz Green.

Oh wow! I missed that! Nice

 

[SBWB48]

On my third attempt now after being on hold for 28 minutes and then disconnected.

But glad to hear it worked out finally!

I can so relate!

My wife was like once, I’m just income and a SSN to you nowadays, aren’t I?

No dear, you’re the reason I picked up this hobby (and for the kiddo too). You’ve got this amazing wanderlist and I’m going to take you to all those places you’ve always wanted to visit for as close to free as I can.

On a more personal note, my MIL is in the hospital and my wife had to fly back to Hawaii very suddenly over the weekend. Because we have stashes of points and miles, I was able to book her an award seat on Saturday night to fly out on Hawaiian the next morning. It cost us 25k HawaiianMiles and only $5.60, but cash fares were in the $600s. Holding down the fort here, and hoping seeing her daughter will help my MIL get better soon.

Anyway, I’m eagerly awaiting my Biz Plat too, because bills keep a comin’.

But I’m also debating applying for the Marriott Premier Plus in a week or two, and I’ll just throw my September rent payment on it as soon as I have the card in hand — that’ll knock out the MSR in one go before the new Starriott restrictions hit on 8/26.

Firstly, sending positive vibes to your family . Hope it's nothing too serious and your MIL will be on her way home soon .

"My wife was like once, I’m just income and a SSN to you nowadays, aren’t I?" - I'm probably going to hear that line very soon.

Today, just for kicks and also because I asked DH whether he used the wrong card for a take out purchase this weekend since I didn't see it pending on our Discover card (turns out the restaurant may have ran the card wrong or something...will spare everyone the story, but no charge is pending), he responded with "I know my cards, CF for Gas, Discover for Restaurants".

He's so proud of himself that he remembers two cards NO CSR (yet).

I responded with "so I guess you are ready for me to throw another card in your wallet soon, right".

Response: "NO, no more cards, I don't need any more cards"

Me (to self): Yea, um, ok...so you think. No more cards in YOUR wallet, but we have plenty coming our way shortly

Next time (like when he mentions flying to Green Bay to watch the Packers play in the fall while we still have CP), my response will be: "Ok, so my portion of the vacay is free, yours is $____"

My tentative plan is to also apply for the Marriott Premier. If I'm going to be shut out due to the Marriott Biz in February, I may as well tack on a few more months to the reset clock...but need to see how that all fits with the CP plan, which I've considered delaying.

Yay! Used my BGR to refer my dh to the Biz Green! So, do I have the MR's we earn all correct...I get 10k for each of the referrals...so 20k and then 5k each once we make a purchase? 30k total? Why did I see @Angrose say that she got 40k? Is there another way to earn more?

Thanks to all who shared about this! Still not sure what I am doing with these MR's but I'm growing a nice stash and I know they will be useful someday

At a minimum, you can hoard them and if nothing comes up, cash out @1.25x with the Schwab after amassing. That is my plan at the moment.