I love credit cards so much!

[Aanna]

On a related note, anyone know a reasonable way to accumulate ~90,000 SPG points? I've been reading about the 90,000 SPG --> 132,000 United miles + 7 Marriott nights transfer, and it sounds like an AWESOME idea for 2018. It would give us an low-cash year/cool vacation year so we can save up money for something nice (eg Alaskan cruise) the following year.

Seems like all the SPG sign up bonuses top out at 25,000?

 

[calypso726]

On a related note, anyone know a reasonable way to accumulate ~90,000 SPG points? I've been reading about the 90,000 SPG --> 132,000 United miles + 7 Marriott nights transfer, and it sounds like an AWESOME idea for 2018. It would give us an low-cash year/cool vacation year so we can save up money for something nice (eg Alaskan cruise) the following year.

Seems like all the SPG sign up bonuses top out at 25,000?

Once a year they will up the bonus to 30K. If you pick up the personal and business cards that would be a minimum of 60K (25K per card after$5K spend each card). Then refer your significant other for each card which will get you another 10K points, 5K each card for the referral. You are now at 70K points. The SO gets both cards for and additional 60K points which puts you well over the top.

 

[Aanna]

Once a year they will up the bonus to 30K. If you pick up the personal and business cards that would be a minimum of 60K (25K per card after$5K spend each card). Then refer your significant other for each card which will get you another 10K points, 5K each card for the referral. You are now at 70K points. The SO gets both cards for and additional 60K points which puts you well over the top.

Omigosh, you are fantastic! This is a good SQUEE day!! And and and if I refer both of my parents, then *they* can get their own rooms/miles and I can get more referral bonuses.

 

[ski_mom]

On a related note, anyone know a reasonable way to accumulate ~90,000 SPG points? I've been reading about the 90,000 SPG --> 132,000 United miles + 7 Marriott nights transfer, and it sounds like an AWESOME idea for 2018. It would give us an low-cash year/cool vacation year so we can save up money for something nice (eg Alaskan cruise) the following year.

Seems like all the SPG sign up bonuses top out at 25,000?

I've been looking, but can't find anything referring to the transfer you're talking about. Are there any links that explain this? Sounds like it must be a good deal!

 

[AmyAnne]

Once a year they will up the bonus to 30K. If you pick up the personal and business cards that would be a minimum of 60K (25K per card after$5K spend each card). Then refer your significant other for each card which will get you another 10K points, 5K each card for the referral. You are now at 70K points. The SO gets both cards for and additional 60K points which puts you well over the top.

Do the SPG points expire? Also, how hard is it to get a business card from AmEx (I am thinking the SPG cards are AmEx)? My "business" is selling things on eBay, which was good enough for the Ink+, but not sure about other business cards.

 

[Aanna]

I've been looking, but can't find anything referring to the transfer you're talking about. Are there any links that explain this? Sounds like it must be a good deal!

Here is one instance, though I've seen it in at least one other spot

http://www.dansdeals.com/archives/95865

I didn't have time to more than glance at it this morning.

 

[DLgal]

Have her apply for one too. 200,000 ur points!

So, avoid a $75 fee with an additional $450 fee?

 

[peel]

So, avoid a $75 fee with an additional $450 fee?

The fee is offset by $600 in travel credit ($300 for this calendar year, $300 next calendar year).

 

[havaneselover]

Would the Costco Citi (automatically transferrred from Costco Amex) count toward the 5/24? Also, I assume the Delta Amex my employer gave me in my name is an AU. Just trying to keep track of where I'm at.

 

[DLgal]

The fee is offset by $600 in travel credit ($300 for this calendar year, $300 next calendar year).

The fee is charged on your first statement and then again a year later. Even with the credit every year, you are paying $150 annual fee per card ($300 per year for 2 cards) vs.$225 per year for a main card and one AU. By adding one AU you save $75 per year.

 

[peel]

The fee is charged on your first statement and then again a year later. Even with the credit every year, you are paying $150 annual fee per card ($300 per year for 2 cards) vs.$225 per year for a main card and one AU. By adding one AU you save $75 per year.

The annual fee is charged once every 12 months. The travel credits are issued every calendar year. If you cancel or downgrade your card before the second annual fee is charged, you will have paid $450 but received $600 in travel credits. I'm assuming they would get rid of one of the two CSRs after collecting the bonuses and travel credits, because there isn't a need to have two in one household.

You're also gaining an extra 100,000 UR points, which is a huge windfall.

 

[Albort]

Seems like all the SPG sign up bonuses top out at 25,000?

be wary of the SPG merge though, rumor is that that Amex card is going to chase. People predict it will come around in Feb. I bet if you apply now, u can probably cancel it when it transfers over to chase, then reapply for the new card and get double bonus? SPG is a wild storm right now... haha

So, avoid a $75 fee with an additional $450 fee?

Dont forget, ur also getting $1000(or $1500 in travel) in UR points, so net $550+$300 travel credit+$100 for global entry). of course, u would need to get spendings of $8000 instead.

Would the Costco Citi (automatically transferrred from Costco Amex) count toward the 5/24? Also, I assume the Delta Amex my employer gave me in my name is an AU. Just trying to keep track of where I'm at.

it will count if you applied for it in the past 24 months. The transfer from amex --> citi should not do anything to your credit report.

 

[calypso726]

Do the SPG points expire? Also, how hard is it to get a business card from AmEx (I am thinking the SPG cards are AmEx)? My "business" is selling things on eBay, which was good enough for the Ink+, but not sure about other business cards.

I had no problem and I don't own what most would call a business.

So, avoid a $75 fee with an additional $450 fee?

You avoid paying $75 to get nothing additional to your current bonus for the application of one card. You pay $900 for both cards in order to receive $4,200 back in Ultimate Reward points and 4 travel statement credits, two this year and two more after January. I don't know about you, but I will happily fork over an additional $450 to get $2100 back all day long.

 

[DLgal]

I had no problem and I don't own what most would call a business.



You avoid paying $75 to get nothing additional to your current bonus for the application of one card. You pay $900 for both cards in order to receive $4,200 back in Ultimate Reward points and 4 travel statement credits, two this year and two more after January. I don't know about you, but I will happily fork over an additional $450 to get $2100 back all day long.

Well, we couldn't spend $8000 in three months right now anyway. I have until December 14 to spend $4000 and that will be doable but there would be no way for us to spend $8000 that fast. I needed DH as an authorized user just so we could get to the $4000 so quickly.

And, not sure we are planning that much travel next year as it is, so cancelling the card a year from now is not our plan, because then we would forfeit any unused points, from what I understand.

Signing up for cards that you plan to cancel a year later is not a good way to maintain a high credit score either.

 

[Albort]

Well, we couldn't spend $8000 in three months right now anyway. I have until December 14 to spend $4000 and that will be doable but there would be no way for us to spend $8000 that fast. I needed DH as an authorized user just so we could get to the $4000 so quickly.

And, not sure we are planning that much travel next year as it is, so cancelling the card a year from now is not our plan, because then we would forfeit any unused points, from what I understand.

Signing up for cards that you plan to cancel a year later is not a good way to maintain a high credit score either.

You dont need to cancel your card. You can product change your card to a Chase Freedom or Chase Freedom Unlimited. You still keep your points, you just lose the ability to transfer to partners and travel % discount from the portal.

I just recently product change my Chase Sapphire Preferred to a Chase Freedom Unlimited.

 

[Aanna]

Signing up for cards that you plan to cancel a year later is not a good way to maintain a high credit score either.

I think you might be surprised.

http://www.extrapackofpeanuts.com/credit-card-affect-on-credit-score/

 

[calypso726]

Well, we couldn't spend $8000 in three months right now anyway. I have until December 14 to spend $4000 and that will be doable but there would be no way for us to spend $8000 that fast. I needed DH as an authorized user just so we could get to the $4000 so quickly.

And, not sure we are planning that much travel next year as it is, so cancelling the card a year from now is not our plan, because then we would forfeit any unused points, from what I understand.

Signing up for cards that you plan to cancel a year later is not a good way to maintain a high credit score either.

I see what you mean. Ok so here is plan B and exactly what I do with DH when we find ourselves in a similar predicament. Since the bonus and statement credit far outweigh the additional fee for an AU then I'd go for it and make the spend as quick as possible. Once you are both close to completing the required spend then the other one applies for the card and an AU. Complete the spend on that one as well. This way you will still get be able to get a ton of value for both cards which still outweigh the additional $150 in AU fees.

Dont cancel them. If you don't find long term value inthe CSR then product change it to the CSP. If you don't want to have two CSP cards wth a $95 annual fee each then product change one to the Freedom Unlimited which has no fee and gives you 1.5 UR points on all spend. If you don't find value in having even one CSP then product change the other card to the Freedom card which has rotating quarterly 5x categories for spend. This method has helped me increase my credit score from mid 700's in 2012 to 800's now. I average about 10 new cards a year. I cancel some but product change most. I hope this helps.

 

[DLgal]

You dont need to cancel your card. You can product change your card to a Chase Freedom or Chase Freedom Unlimited. You still keep your points, you just lose the ability to transfer to partners and travel % discount from the portal.

I just recently product change my Chase Sapphire Preferred to a Chase Freedom Unlimited.

We will most likely transfer most points to partners though.

Regardless, I do most of the monthly spending anyway. My husband would NEVER be able to spend $4000 in a three month period of time on his own. So, for us, adding him as an AU is the only way to make this work. For us.

I just see the advice to "avoid the $75 AU fee by opening up another card" to not be the best overall advice for every situation. You have to really know what you are doing and know that ONE person could spend the required $4000 in 3 months in order to get the bonus points.

 

[DLgal]

I see what you mean. Ok so here is plan B and exactly what I do with DH when we find ourselves in a similar predicament. Since the bonus and statement credit far outweigh the additional fee for an AU then I'd go for it and make the spend as quick as possible. Once you are both close to completing the required spend then the other one applies for the card and an AU. Complete the spend on that one as well. This way you will still get be able to get a ton of value for both cards which still outweigh the additional $150 in AU fees.

Dont cancel them. If you don't find long term value inthe CSR then product change it to the CSP. If you don't want to have two CSP cards wth a $95 annual fee each then product change one to the Freedom Unlimited which has no fee and gives you 1.5 UR points on all spend. If you don't find value in having even one CSP then product change the other card to the Freedom card which has rotating quarterly 5x categories for spend. This method has helped me increase my credit score from mid 700's in 2012 to 800's now. I average about 10 new cards a year. I cancel some but product change most. I hope this helps.

Nah, way too complicated. We were using a Disney Visa primarily (and earning around $1000 per year that we put towards our DL annual passes.) I signed up for the CSR simply for the bonus points, but will likely make that our primary card from now on and keep the Disney Visa as secondary since it earns 2X on grocery and gas (CSR only earns 1x on those categories) and then use the CSR for travel and dining spending.

My credit score is 790. I'm not worried about it, but I don't want it to go down by continuously opening and cancelling accounts.

 

[WDWRook]

I see what you mean. Ok so here is plan B and exactly what I do with DH when we find ourselves in a similar predicament. Since the bonus and statement credit far outweigh the additional fee for an AU then I'd go for it and make the spend as quick as possible. Once you are both close to completing the required spend then the other one applies for the card and an AU. Complete the spend on that one as well. This way you will still get be able to get a ton of value for both cards which still outweigh the additional $150 in AU fees.

Dont cancel them. If you don't find long term value inthe CSR then product change it to the CSP. If you don't want to have two CSP cards wth a $95 annual fee each then product change one to the Freedom Unlimited which has no fee and gives you 1.5 UR points on all spend. If you don't find value in having even one CSP then product change the other card to the Freedom card which has rotating quarterly 5x categories for spend. This method has helped me increase my credit score from mid 700's in 2012 to 800's now. I average about 10 new cards a year. I cancel some but product change most. I hope this helps.

Don't forget that if you drop all the CSR, you lose the 1.5x UR bonus; and if you drop both below the CSP you lose even the 1.25x UR bonus. Though, another reason to watch the AU's is that there seems to be uncertainties if the AU's count for the 5/24 rule. Some sites say yes and others say no.

I think we will keep my CSR long term. I too want to be careful to ensure we can meet the spend requirements without spending on items we normally would not. So, I have until Dec 20th to meet $4,000. My hope is to hit that by mid Nov, then get the Wife the CSR. Once she hits the $4,000 drop her down to a Freedom (after transfering any UR to my account). Then, perhaps she can get a CSP and eventually drop that to a Freedom Unlimited. Also, once I hit the $4,000 spend I might apply for a Freedom for the 5x spend bonus. I don't think we need both a CSR and a CSP since we have the Disney Visa which covers 2% on many items already and we have the travel benefits of the CSR (and we usually always travel together).