I love credit cards so much!

[calypso726]

I'm annoying... lol. Would anyone like to double check my scenarios here and see if I'm missing anything?

I'm at 4/24, will be 2/24 mid January. My main goal was free flights to Orlando for our honeymoon next September, and for a trip down there late January/early February 2017. I've got about $500 in Barclay miles I was saving for the honeymoon. I also have a $131 SW credit in DF's name that expires April 2017.


Scenario 1 - Original Plan - SW Companion Pass
Apply for 2 SW cards on same day around the end of the year. Buy choice hotel points to supplement and get Companion Pass ASAP in January ($220 or less, depending on points needed). This means waiting to book Jan/Feb trip until the pass is active. We'd pay for the hotel OOP, and use points/pass for free flights for Sept.

Costs - $45 flight fees (4 flights for 2 people), $500 OOP Disney hotel for Jan/Feb trip, $198 card annual fees ($99ea), and up to another $220 for choice points = $963; There would be about 56k SW points leftover


Scenario 2 - CSR
Apply for CSR now, hit bonus spending. Pay Disney hotel deposit ($150) and SW flights to MCO in Jan OOP ($163 after credit). Get back $300 credit (woot!). Book Jan return flights and September flights with UR points. Pay rest of Disney hotel in Jan in person ($350), get $300 credit.

Costs - $500 total for Disney hotel, $163 flight OOP, $34 flight fees (3 flights for 2 people), $450 card annual fee, MINUS $600 for travel credit double dipping = $547; There would be about 20k UR points left over


The main advantage for the Companion Pass I see is that we'd have more points left, but DF won't have any vacation left after the honeymoon trip, so it could be awhile before we go anywhere that's more than a weekend. CSR is less OOP currently, and we can book the Jan trip earlier. I'd have to evaluate next year if we'd keep it or downgrade because I'm not sure where our spending will be. And I've only looked at transferring UR points to Southwest. I'm also pretty sure if we charge anything to our hotel room on either Disney trip, I can use the Barclay miles. If I go with the CSR, it would be nice to have it by Oct 23 when we try for our DVC rental for the honeymoon. Not the end of the world if it codes as travel or not...


Am I missing anything here? Any other considerations? I only started looking at CC bonuses because of wedding spending

ETA: Are there any things I should consider to get approved for CSR? Like credit score, debts, etc that would make it unlikely I get approved?

I'd go the CSR route. The SW cards and companion pass aren't going anywhere and you can always get them when you are below 5/24 again. The 100k offer is not likely to last long term. You will earn SW butt in seat miles with the credit and Barclay statement eraser. The UR points won't expire and your rapid rewards miles from SW will. Downgrade the CSR next year to the CSP and you have a great all around travel card.

 

[Ngwira]

heres another example. I was booking for a hyatt in taipei, taiwan. its $269 a night direct booking. i forgot how much the portal was... but if i transfer 15,000 pts, i can get a night. 15k points = $150. 1.79 cents per point!

I'm terrible at math...how did you get 1.79 cents pp?

 

[Albort]

I'm terrible at math...how did you get 1.79 cents pp?

$269 is what id pay for... divide by the points im using which is 15000. u get .0179xxxxx. or 1.79 cents!

 

[Ngwira]

Ok. Thanks. I was just thinking since my SW card is past the 2 years that I should maybe try to get the Companion Pass but that would entail me opening 2 New SW Cards and was not sure they would do that. I definitely want to cancel all the cards I am paying a fee for before they come up again. (except the Sapphire Preferred - will keep that one).

What is the difference between Freedom and Freedom Unlimited?

They will refund you if you cancel within 60-90 days after the AF posts. I was recently told 90 but a pp was told 60.

Freedom has quarterly bonus categories that get you 5x on up to $1500 in spend each quarter. So that is 30,000 UR points a year if you are able to max it out.

The Freedom Unlimted is 1.5 UR points on everything uncapped. So you use the Ink+ on cable, internet, phone and gift cards from office supply stores to other merchants, Macy's, Whole Foods, Disney etc. for 5x. You use your CSR/CSP for travel and dining to get the 3/2 UR points and be able to transfer the points to airlines. You use the Freedom on the quarterly bonus categories and the Freedom Unlimited on everything else.[/QUOTE]
and Marriot!

 

[Ngwira]

$269 is what id pay for... divide by the points im using which is 15000. u get .0179xxxxx. or 1.79 cents!

Thank you for explaining, Albort.

 

[Albort]

They will refund you if you cancel within 60-90 days after the AF posts. I was recently told 90 but a pp was told 60.

Freedom has quarterly bonus categories that get you 5x on up to $1500 in spend each quarter. So that is 30,000 UR points a year if you are able to max it out.

in general, yes. $1500 per quarter, max of 30,000 UR pts. BUT chase is trying to compete with the discover card, so they will try to pull random stuff. for example, last year, u could earn an extra 15000 points during the 4th quarter... it was also 10% earnings instead of 5%. Rumor is that this year, it might get added in nov.

 

[calypso726]

Oh that's awesome that I can transfer AMEX MR to Starwood. I love Sheratons and Westins.

Yes but the transfer is 3:1. I mean if you don't fly and just want to stay at hotels I guess it won't matter. I'd rather transfer my 60,000 Amex MR points at 1:1 to Delta and not pay for my flight than transfer 60,000 to SPG which would result in 20,000 SPG points and maybe pay for 2 nights at a cat 3 hotel.

 

[Ngwira]

Yes but the transfer is 3:1. I mean if you don't fly and just want to stay at hotels I guess it won't matter. I'd rather transfer my 60,000 Amex MR points at 1:1 to Delta and not pay for my flight than transfer 60,000 to SPG which would result in 20,000 SPG points and maybe pay for 2 nights at a cat 3 hotel.

Told you I was terrible at math..I thought it was 1 to 3.. I have my CSR. Wohoo.

 

[FairestOfThemAll37]

Wow, I can't believe how long this thread has gotten!

I'm so jealous of everybody who has gotten the CSR. Ugh darn the 5/24 rule!!!!

 

[calypso726]

Wow, I can't believe how long this thread has gotten!

I'm so jealous of everybody who has gotten the CSR. Ugh darn the 5/24 rule!!!!

Two ways around 5/24. I'd at least give the easy way a try if the other way is too crazy. You never know. There was a pp that found they were pre-approved in branch and got it. Countless data points of people waaaaaay past 5/24 and finding out they had an in branch pre-approval. I got it via the other method which still isn't a guarantee but I am glad it worked.

 

[FairestOfThemAll37]

Two ways around 5/24. I'd at least give the easy way a try if the other way is too crazy. You never know. There was a pp that found they were pre-approved in branch and got it. Countless data points of people waaaaaay past 5/24 and finding out they had an in branch pre-approval. I got it via the other method which still isn't a guarantee but I am glad it worked.

Maybe I'll stop by a branch and see what they say. It can't hurt.

The only other way I've heard around this is by being a Chase Private Client. I'm guessing that's the other method you're talking about? I don't have $250k with chase so that is not an option for me.

 

[calypso726]

Maybe I'll stop by a branch and see what they say. It can't hurt.

The only other way I've heard around this is by being a Chase Private Client. I'm guessing that's the other method you're talking about? I don't have $250k with chase so that is not an option for me.

I read data points and can confirm that they won't require the full $250k.

If you have opted out of offers from Chase at any point you may not be able to get a pre-approval. Just opt back in and I understand new offers get loaded each month.

 

[Alexle2007]

UPS notified me that delivery would be today!!! So excited!!!

I hope mine gets here that quick! I received the welcome emai today and am hoping to have the card by Thurs since we leave Fri for our Disney cruise so I am sure I will be close to the $4000 spend after that plus it's travel points

 

[Albort]

I hope mine gets here that quick! I received the welcome emai today and am hoping to have the card by Thurs since we leave Fri for our Disney cruise so I am sure I will be close to the $4000 spend after that plus it's travel points

did u call them and ask for next day air?

 

[LilSweetPeaPhoto]

whats ur debt to income ratio? Do you have a relationship with chase? how long?
How quickly can u pay off your debt?

Generally speaking, it isnt a good idea to churn while in debt. You basically lose more due to the high interest rates and you end up losing more. I would honestly apply for like the chase Slate card, or 0% interest rate for xx month and try to pay off the debt before i go for a cash rewards one.

edit: added more.

Our current utilization is at 31% per credit karma. BUT we are paying off our ENTIRE current credit card debt. As of tomorrow (or when ever our refi money is wired) we will be sitting at $0 in debt (buh-bye $30k).

We will have NO debt lingering (outside of car leases, student loans and mortgage). And I'm interested in dipping my toes into this game.

We've been with chase since I was born, LOL. The bank my parents started my savings account at as a child was bought out by chase. I currently have 6 or 7 bank accounts with them. And I have one currently open card with Chase, we've had since 2005. With $1k balance, that will be paid off.

I've never been declined a card in the past. My credit score is decent. And in the last 24 months I've only opened 1 new card (a discover card).

 

[Alexle2007]

did u call them and ask for next day air?

When I called recon to push the app through, I asked several times for them to expedite it. The gentleman told me they couldn't but that he would put a note to expedite. Is it the recon # that I ask?

 

[calypso726]

Our current utilization is at 31% per credit karma. BUT we are paying off our ENTIRE current credit card debt. As of tomorrow (or when ever our refi money is wired) we will be sitting at $0 in debt (buh-bye $30k).

We will have NO debt lingering (outside of car leases, student loans and mortgage). And I'm interested in dipping my toes into this game.

We've been with chase since I was born, LOL. The bank my parents started my savings account at as a child was bought out by chase. I currently have 6 or 7 bank accounts with them. And I have one currently open card with Chase, we've had since 2005. With $1k balance, that will be paid off.

I've never been declined a card in the past. My credit score is decent. And in the last 24 months I've only opened 1 new card (a discover card).

You will likely get approved then if your debt to income ratio is within range assuming you apply before the pay offs are reported. Please allow me to caution you and anyone else following along on the top 3 rules in this game which I am only mentioning because of the details in your post. This is also for anyone considering playing this game and wanting to do it successfully.

1) One must have a good credit score. High 600's may get approvals but the mid 700's will be required for most cards.
2) Do not carry balances ever. Any interest paid has negated the value of the points/miles you may earn.
3) Do not spend more than you were going to if you did not have the card.

I have had numerous friends want to play the game and then wind up with cc debt and paying crazy interest rate fees despite my warnings. I've had friends exclaim over the high interest rate of the card they were going to apply for. To which I respond, don't apply. If you are even looking at the interest rate of the card you aren't ready to play this game. The interest rate could be 100% and it wouldn't phase me. I won't be paying it. All balances are paid in full every month. I don't know what your situation is and I am not asking or judging. I am only relaying what every travel hacker will tell you and what you will find in the beginner section of every blog about playing this game. So, now that the cautionary disclaimers are out of the way. Congratulations on getting rid of your cc debt and Happy travel hacking!

 

[Ngwira]

Just wanted to post about a redemption I just booked. I used 15,000 star points plus $275 (cash and points) to book the St. Regis on 5th avenue in NYC on a Saturday night in July 2017. I will be turning 40 and it is DH and I's 12th wedding anniversary. Cash rates are about $1,000 a night. I could never afford to stay there without travel hacking. Thanks to all for sharing this awesome hobby.

 

[Ngwira]

I hope mine gets here that quick! I received the welcome emai today and am hoping to have the card by Thurs since we leave Fri for our Disney cruise so I am sure I will be close to the $4000 spend after that plus it's travel points

I read that all CSR's are being expedited. Did you sign up for ups my choice? You should do so and they will notify you of any packages headed to your address. I reckon it will come today or tomorrow since you got the welcome email. I received the welcome email on Monday and card arrived yesterday ( Tuesday).

 

[FairestOfThemAll37]

Just wanted to post about a redemption I just booked. I used 15,000 star points plus $275 (cash and points) to book the St. Regis on 5th avenue in NYC on a Saturday night in July 2017. I will be turning 40 and it is DH and I's 12th wedding anniversary. Cash rates are about $1,000 a night. I could never afford to stay there without travel hacking. Thanks to all for sharing this awesome hobby.

I loooove the NYC St. Regis! Well I pretty much love any St. Regis. I'm worried Marriott is going to muck them up.

You'll have a great time.