I love credit cards so much!

[GlamMistress]

You made me reasses my cards. We have just over 1k in AFs, 450 from CSR. I did recently cancel one card & PCd the CSP to CF. I do have a couple cards that have no AF this year but will next year. I'm sure I'll be getting rid of Marriott or SPG or both once they decide what's up with that program.

The thing with the Ultimate Rewards earnings cards is that it is so easy to downgrade to a no fee version. If you ever want the higher benefits again, you just call to upgrade and no credit pull. Over the past year my husband and I had 3 premium cards between us, not counting all the excess cards we all have in this hobby. So that meant paying fees on two Amex plats and a Citi Prestige. It's absurd and that's where I drew the line. I think it's really easy for people to master the accumulation part of this hobby and even the award redemptions ... but cutting cards is part of churning too and its often neglected... or you get attached to one benefit and hate to let it go but it really isn't worth the money (Centurion lounge access, I'm looking at you).

 

[AmyAnne]

The thing with the Ultimate Rewards earnings cards is that it is so easy to downgrade to a no fee version. If you ever want the higher benefits again, you just call to upgrade and no credit pull. Over the past year my husband and I had 3 premium cards between us, not counting all the excess cards we all have in this hobby. So that meant paying fees on two Amex plats and a Citi Prestige. It's absurd and that's where I drew the line. I think it's really easy for people to master the accumulation part of this hobby and even the award redemptions ... but cutting cards is part of churning too and its often neglected... or you get attached to one benefit and hate to let it go but it really isn't worth the money (Centurion lounge access, I'm looking at you).

It's definitely hard to calculate the monetary value of some of the benefits. I have the AF on the CSR coming in September and the AmEx Platinum Business in December. The CSR is probably worth $150 a year in benefits (esp. the UR redemption rate and also 3x UR points on travel). The AmEx card would be close if it were keeping the 50% points back for flights purchased with MR points, but that's decreasing to 35%. It's still $100 back on a $300 flight, but I'm not sure how many more flights I can eke out of my MR points. Probably not four or more in the next year. So at the moment I'm leaning toward keeping the CSR and canceling the AmEx. And maybe getting the Citi Prestige.

ETA I forgot about the $200 travel credit from AmEx. So actually the card would be worth the $450 AF so long as the other benefits were worth $250. I'll have to see how many MR points I have in December, and whether the 35% back on flights would be likely to be worth $250.

 

[tink1970]

I'm sure I'll be getting rid of Marriott or SPG or both once they decide what's up with that program.

I'm waiting too...I still have a Marriott Chase but am feeling ambivalent about it. It just renewed so I have 12 months to see what's coming down the pike...and see if I'll actually use my free night. That may decide it

I have $1600 worth of total annual fees right now. My goal is to slash that in half by the middle of 2018.

Prior to today I was paying $1800 in AF and my goal is to decrease this by 40% or more. Definitely do-able by Dec of next year (I don't want to anger Amex since I'm a Delta girl so holding on to my Reserve another year).

I think it's really easy for people to master the accumulation part of this hobby and even the award redemptions ... but cutting cards is part of churning too and its often neglected... or you get attached to one benefit and hate to let it go but it really isn't worth the money (Centurion lounge access, I'm looking at you).

You summarized this very well. I enjoy reading Keep/Downgrade/Cancel on DOC and the monthly reviews of TPG's editors (although since their AFs are tax deductible I do read with a grain of salt). I'm glad some bloggers are discussing this since as you pointed out the culling aspect is also very important in this hobby.

 

[CyndiLouWho]

The thing with the Ultimate Rewards earnings cards is that it is so easy to downgrade to a no fee version. If you ever want the higher benefits again, you just call to upgrade and no credit pull. Over the past year my husband and I had 3 premium cards between us, not counting all the excess cards we all have in this hobby. So that meant paying fees on two Amex plats and a Citi Prestige. It's absurd and that's where I drew the line. I think it's really easy for people to master the accumulation part of this hobby and even the award redemptions ... but cutting cards is part of churning too and its often neglected... or you get attached to one benefit and hate to let it go but it really isn't worth the money (Centurion lounge access, I'm looking at you).

The CSR is DHs, he also has a CSP. We can't downgrade it yet, he just got it. My CSP was just downgraded. Between the two of us, one premium card is enough. If you asked me a year ago, I never would have thought I'd pay for any card over $100. DH is convinced CSR is worth it. We don't use lounges, the insurance is nice but the 3x rewards does add up. Still not sure we will keep it long term though.

 

[GlamMistress]

It's definitely hard to calculate the monetary value of some of the benefits. I have the AF on the CSR coming in September and the AmEx Platinum Business in December. The CSR is probably worth $150 a year in benefits (esp. the UR redemption rate and also 3x UR points on travel). The AmEx card would be close if it were keeping the 50% points back for flights purchased with MR points, but that's decreasing to 35%. It's still $100 back on a $300 flight, but I'm not sure how many more flights I can eke out of my MR points. Probably not four or more in the next year. So at the moment I'm leaning toward keeping the CSR and canceling the AmEx. And maybe getting the Citi Prestige.

ETA I forgot about the $200 travel credit from AmEx. So actually the card would be worth the $450 AF so long as the other benefits were worth $250. I'll have to see how many MR points I have in December, and whether the 35% back on flights would be likely to be worth $250.

MR is my biggest bucket of points. I'm confused why Amex didn't raise the Biz Plat fee but has upped the personal to $550. It seems backwards to me. The travel credit sure is nice, but I wish Amex made it easier to use. I spend it just fine, but it does suck having to declare one airline. Citi and Chase easily beat Amex in that regard.

 

[JellyMintJames]

That's why I am almost $2300 in debt because of credit cards....and Disney

 

[gottalovepluto]

That's why I am almost $2300 in debt because of credit cards....and Disney

Um. We're super nice over here but you really don't need to be checking out this thread. You could easily get in trouble with all the cards we talk about because it's so easy to chase these bonuses and then not be able to pay back what you charged to get the bonus. $2300 is definitely a chunk of change but you can for sure get rid of that debt with a bit of work! (Ask on the main budget board thread if you're interested in any tips! A number of people have experience getting out of CC debt there.)

 

[JellyMintJames]

Um. We're super nice over here but you really don't need to be checking out this thread. You could easily get in trouble with all the cards we talk about because it's so easy to chase these bonuses and then not be able to pay back what you charged to get the bonus. $2300 is definitely a chunk of change but you can for sure get rid of that debt with a bit of work! (Ask on the main budget board thread if you're interested in any tips! A number of people have experience getting out of CC debt there.)

I am so sorry if I posted on the wrong thread or offended you but I didn't get the cards for bonuses I got it to support my Disney World habit. It happens when you're friendless and kind of a jerk/truth teller.

 

[Lain]

That's why I am almost $2300 in debt because of credit cards....and Disney

If you have debt because of credit cards that you can't pay off every month, this game isn't for you. And if you're in debt because of Disney, maybe you need to cut back on vacations.

 

[JellyMintJames]

If you have debt because of credit cards that you can't pay off every month, this game isn't for you. And if you're in debt because of Disney, maybe you need to cut back on vacations.

Fine I don't won't be around stuck up self entitled people anyway. I'm cutting the cord with Disney It just became another playground for the well off. Screw you guys and this board.

 

[Lain]

I just want to make a general comment, not directed at any person in particular. It's stating the obvious that Disney has gotten more expensive over the years. There's an entire thread on the front page of the Budget Board discussing why the middle class can't afford Disney anymore. I'm not going to get into that debate.

I will say that I'm an active participant in both this and the Disney Gift Card Deals threads, and I try my best to share news, my knowledge and experience, and answer questions because I believe the tips in these two threads are very good and generally accessible ways to help save significant money on expensive Disney vacations. I recognize that Disney holds a special sentimental value for a lot of people and their families, as it does for mine, but it is not worth getting into debt over.

 

[ski_mom]

Another thing to consider when evaluating credit card benefits: DH and I each have the CSR card and one area we have really made out well with is the price protection benefit. As a quick example, I just purchased both of our DDs college textbooks from amazon. I've noticed in year's past that a few weeks after classes start, the prices of the books drop (sometimes by quite a bit). This year, I purchased Amazon gift cards through Gyft (earning 5x points with my CIP). I then used the gift cards to pay part of each order but made sure to pay the balance of each order with the CSR. Now, I am just waiting and looking for price drops. So far, only one book has dropped in price, but I'm expecting to have more drops as classes start. You can only get a price drop up to the amount you put on the CSR, so I try to estimate what I think the biggest drop might be and pay at least that amount with the card.

So far, since January, I've gotten back $723.62. I typically just look for reductions from Amazon purchase and large purchases bought from other places.

 

[Lain]

Another thing to consider when evaluating credit card benefits: DH and I each have the CSR card and one area we have really made out well with is the price protection benefit. As a quick example, I just purchased both of our DDs college textbooks from amazon. I've noticed in year's past that a few weeks after classes start, the prices of the books drop (sometimes by quite a bit). This year, I purchased Amazon gift cards through Gyft (earning 5x points with my CIP). I then used the gift cards to pay part of each order but made sure to pay the balance of each order with the CSR. Now, I am just waiting and looking for price drops. So far, only one book has dropped in price, but I'm expecting to have more drops as classes start. You can only get a price drop up to the amount you put on the CSR, so I try to estimate what I think the biggest drop might be and pay at least that amount with the card.

So far, since January, I've gotten back $723.62. I typically just look for reductions from Amazon purchase and large purchases bought from other places.

Just to be clear, when you're earning 5x UR on Gyft with your "CIP" that's Chase Ink Plus, right? Because my Chase Ink Preferred earns only 3x UR.

I love the price protection benefit that Chase UR cards offer (and Citi's Price Rewind), which really makes Chase > Amex (no price protection). I like your strategy of breaking up your order between gift card and some balance charged on the credit card. But then how much do you decide to charge because that's the limit of how much protection you have on a price adjustment?

I'd note that almost all Chase UR cards have price protection: CSR, CSP, Freedom, FU, CIP and I believe Ink+ all offer price protection of up to $500 per item within 90 days, up to $2,500 total each year. So I don't know how much I'd factor the price protection benefit when deciding whether to pay the CSR's AF if you have one of the other Chase UR cards that offer it.

 

[Albort]

I'd note that almost all Chase UR cards have price protection: CSR, CSP, Freedom, FU, CIP and I believe Ink+ all offer price protection of up to $500 per item within 90 days, up to $2,500 total each year. So I don't know how much I'd factor the price protection benefit when deciding whether to pay the CSR's AF if you have one of the other Chase UR cards that offer it.

i thought i read something about not using the Ink+ on price protection or insurance or something of that sort... considered that if your not actually using it for business... Ill try to dig up about it. i cant seem to find it.

PS, does anyone know how to activate the walmart GC? i got both my cards but for some dang reason, they are inactive... :\ Clicking on the links, they still show up inactive even after 6 hours.

 

[calypso726]

Looking at booking Animal Kingdom for a night post cruise using UR points. Kidani Village and Jambo House are available. Any recommendations of one over the other. Also, how challenging is it to cancel if booked through the UR portal? Appreciate help on this.

We own DVC at AK and have stayed at both Kidani and Jambo many times. Whenever we bring new people and are staying at AK we book Jambo. The lobby is impressive, several dining options right there (love Jiko) and there are tons of activities at the resort. That said, the pool at Kidani is better.

 

[hsmamato2]

I'm in trim the fat mode regarding annual fees as well. A lot of these cards are great to get for the bonus, but if you don't travel enough routinely it doesn't make sense to hold longterm. I have $1600 worth of total annual fees right now. My goal is to slash that in half by the middle of 2018. I've identified an easy cut of $650 so far with no pain. Of course, I'll keep picking up new cards along the way and have to constantly evaluate.

I added up my Af etc etc for this past year or so....and added up in a 2nd column my travel savings in the same time frame(plus my plans thru next spring)
*column 1-spent....around $1800 OOP for fees etc. *column 2-saved.... darn close to $10,000! so yeah....the fees are high (this year) but I 'broke even' Long ago! And I'm not even done using all the benefits I got in this time..... it'll take us a while to plow through it all..... That said, I do intend to winnow out some that aren't valuable for me after this year.....I have a chunk of points and some valuable credits that have to be used to add to all of this.....

 

[peel]

It's not the same thing when it's closed for fraud as when you close an account. I've had fraud on my barclay aa card and another, both were closed with new cards issued but didn't show anything weird on my credit report. Which is probably part of why they report it. There's too much fraud for the credit companies to let it negatively affect someone's score.

I had to get a new card with a new number and didn't need to replace anything. My credit report still has the same open date. The new card did adjust the expiration date but that was the only thing.

Thank you! I figured I wouldn't be put out too much since I wasn't at fault, but you never know with these big companies.

My uncle was in a horrible car accident last week, and I've spent much of my time at the hospital ever since. So I didn't have the energy to research all of my questions, but I knew you all would have the answers for me.

 

[ski_mom]

Just to be clear, when you're earning 5x UR on Gyft with your "CIP" that's Chase Ink Plus, right? Because my Chase Ink Preferred earns only 3x UR.

I love the price protection benefit that Chase UR cards offer (and Citi's Price Rewind), which really makes Chase > Amex (no price protection). I like your strategy of breaking up your order between gift card and some balance charged on the credit card. But then how much do you decide to charge because that's the limit of how much protection you have on a price adjustment?

I'd note that almost all Chase UR cards have price protection: CSR, CSP, Freedom, FU, CIP and I believe Ink+ all offer price protection of up to $500 per item within 90 days, up to $2,500 total each year. So I don't know how much I'd factor the price protection benefit when deciding whether to pay the CSR's AF if you have one of the other Chase UR cards that offer it.

Yes, I'm getting the 5x with the Chase Ink Plus. I got it right before it went away. I hope that 5x stays around for a long time.

I don't really have a prefect method of knowing how much to charge on the card, because you're right, that's the limit you can receive back on price protection. I just try to pay an even amount with a gift card and apply the rest to the credit card. Some things if I'm not at all sure, I'll check camelcamelcamel to look for the history on the item. Typically though, I might save 10-15% to pay on the card to make that much eligible for cash back.

I hadn't thought about the yearly limit. I don't think I'd hit it, but it is something to consider. Since DH and I both have the CSR, if we ever got close, we'd have to pay attention to which card we put a large purchase on. I do like the freedom to not worry so much about finding the lowest price before we buy something.

 

[Alexle2007]

TPG makes the Citi Prestige sound inticing. Any thoughts on it? We do take a lot of trips that are 4 or more nights but I typically check the fed rate and other rates on the hotel's site.

 

[gottalovepluto]

TPG makes the Citi Prestige sound inticing. Any thoughts on it? We do take a lot of trips that are 4 or more nights but I typically check the fed rate and other rates on the hotel's site.

Ignore TPG's thoughts on it, please look at the benefits and research out what things YOU would actually do with the bonus points and benefits. TPG has been almost relentless in his push of the Citi Prestige since the new offer came out (case in point: he's had spots on CNBC and other networks basically promoting the card). Every time someone applies through his link he gets a kick-back. It's just business, I don't have anything against it, but know he's biased. Like I said, what would you do with your Citi Prestige card? What are your travel plans? Once you establish the card's value to you personally you'll know if it's a good card for you.

Other's will be able to help you with Citi's hotel pricing. If your 4th night is free that's basically a 25% discount off each night, do you on average achieve that level, or close to that level, of discount? If you come close that feature might not do you much good but if you average 10% off it might be of more use.