I love credit cards so much!

[afan]

There are varying schools of thought on this. First - if you don't have enough Credit Limit you don't have any to transfer over... BUT it's nicer to get auto-approved. I am one that is in the camp of doing proactive reductions on my credit line to increase odds of auto-approval. OF course keep in mind that this can affect your credit score and utilization if you lower your limits. So it's not necessarily an easy answer. However if you know you're at the limit of what they'll give you - lowering some limits to free up about $10k wouldn't be a bad idea.

Someone on here did reduce the amounts and if I'm remembering correctly it didn't work in their favor. I can't remember who but it might be whomever has a mulan avitar. Im awful with names here and in person ☺

 

[Albort]

Oh, things are starting to make sense now! Some of them, anyway.

I thought when I read that AmEx was a one-time deal that meant you could only get a sign up bonus once wth them. But I guess it's once PER card. So that just means you can't keep cancelling a card and signing up for it again to get the bonus. You can do this with Chase, but you can't have more than five cards that are less than two years old.

So it makes sense to hold onto any card that has no annual fee no matter what, and if there is a fee, keep it if the incentive is worth the AF or cancel it if not. But cancel Chase cards IF you want to reapply for them in future to get the bonus again.

I can sign up for as many AmEx cards as I want, but they will count as one of the 5/24 unless it's a business card. I assume that once I have my 5 Chase cards I can apply for personal AmEx cards because it can't hurt me anymore.

Why would I need to occasionally use a card I'm holding on to? Is it not ok to never use a card and just stick it away somewhere?

amex bonuses are basically once in a life time bonus. although its been rumored that its actually 7-8 years. this is what we call unchurnable.
i think its up to 6 amex cards you can hold at once? as for using your card, if you leave a card unused for too long, the issuer will close your account. each state has their own rules though, for example california says that the issuer has to notify you of closure. im not sure about Florida.

edit: also to note, SPG is also a one time deal like the amex card but its highly recommended to apply since there will most likely be a new program taking its place. so chances are, the SPG biz/SPG personal would probably stop accepting new apps in 2018

 

[1GoldenSun]

amex bonuses are basically once in a life time bonus. although its been rumored that its actually 7-8 years. this is what we call unchurnable.
i think its up to 6 amex cards you can hold at once? as for using your card, if you leave a card unused for too long, the issuer will close your account. each state has their own rules though, for example california says that the issuer has to notify you of closure. im not sure about Florida.

edit: also to note, SPG is also a one time deal like the amex card but its highly recommended to apply since there will most likely be a new program taking its place. so chances are, the SPG biz/SPG personal would probably stop accepting new apps in 2018

I guess I should go ahead and apply now then. Thanks!

 

[SouthFayetteFan]

Oh, things are starting to make sense now! Some of them, anyway.

I thought when I read that AmEx was a one-time deal that meant you could only get a sign up bonus once wth them. But I guess it's once PER card. So that just means you can't keep cancelling a card and signing up for it again to get the bonus. You can do this with Chase, but you can't have more than five cards that are less than two years old.

So it makes sense to hold onto any card that has no annual fee no matter what, and if there is a fee, keep it if the incentive is worth the AF or cancel it if not. But cancel Chase cards IF you want to reapply for them in future to get the bonus again.

I can sign up for as many AmEx cards as I want, but they will count as one of the 5/24 unless it's a business card. I assume that once I have my 5 Chase cards I can apply for personal AmEx cards because it can't hurt me anymore.

Why would I need to occasionally use a card I'm holding on to? Is it not ok to never use a card and just stick it away somewhere?

You've been doing some reading for sure! You sound very educated here

I guess I should go ahead and apply now then. Thanks!

Here's a link to the AMEX thread on DISchurners if you're looking for a link there: https://www.reddit.com/r/DISchurners/comments/77ho17/official_amex_referral_thread/

 

[Albort]

I guess I should go ahead and apply now then. Thanks!

if you got the minimums, then yes! do it! I just came back from a trip and used my SPG biz to the max! SPG is a very good brand! please do use someone referral!
3 days 2 nights for $87(BRG) + 2000 pts + waived resort fee + $32 a day parking.

lounge access was super nice!

 

[SouthFayetteFan]

amex bonuses are basically once in a life time bonus. although its been rumored that its actually 7-8 years. this is what we call unchurnable.
i think its up to 6 amex cards you can hold at once? as for using your card, if you leave a card unused for too long, the issuer will close your account. each state has their own rules though, for example california says that the issuer has to notify you of closure. im not sure about Florida.

edit: also to note, SPG is also a one time deal like the amex card but its highly recommended to apply since there will most likely be a new program taking its place. so chances are, the SPG biz/SPG personal would probably stop accepting new apps in 2018

So with AMEX the limit is specifically on CREDIT CARDS - you can have as many charge cards as you'd like (i.e. PRG, Plat, Green etc.). The limit is 4 open Credit Cards (personal and business count) however some have been able to get a 5th credit card by calling in. I've just found it easier to cancel one and get autoapproved than do the whole call in thing.

 

[SouthFayetteFan]

Paging @peel on this one too.

So I looked through churningsearch for some recent store card recon DPs. I sent messages to 3 people who were having issues (did HUCA, couldn't overcome it). Still waiting on responses from 2 of them but one stated that they successfully reconned and got Chase to exclude a store card in October 2017 so there's a DP at least that recent of it. This person did have to call 3 times though. I'll report back if the others respond.

A second person on r/churning responded and they successfully reconned a store card within the last 3 weeks. So that's a good sign that it's still a possibility.

 

[1GoldenSun]

if you got the minimums, then yes! do it! I just came back from a trip and used my SPG biz to the max! SPG is a very good brand! please do use someone referral!
3 days 2 nights for $87(BRG) + 2000 pts + waived resort fee + $32 a day parking.

lounge access was super nice!

i'm trying to figure out how to do the referral thing. This is on reddit? I'm on there for the first time and i don't know my way around.

 

[SouthFayetteFan]

i'm trying to figure out how to do the referral thing. This is on reddit? I'm on there for the first time and i don't know my way around.

I sent you a PM on here inviting you to join. I just need to know your reddit username to approve you.

 

[1GoldenSun]

I sent you a PM on here inviting you to join. I just need to know your reddit username to approve you.

I thought I answered your message but I've never PMed before so i may have done it wrong. I signed up for reddit and my user name is the same as here-- 1GoldenSun

 

[SouthFayetteFan]

I thought I answered your message but I've never PMed before so i may have done it wrong. I signed up for reddit and my user name is the same as here-- 1GoldenSun

haha no I didn't get a response from you but no worries. I'll get you setup now and send you a response welcome message with links.

 

[1GoldenSun]

Ok SouthFayetteFan, I'm on there and I see your referrals. I'm curious, what's the difference between the Starwood Business and the Business Gold Rewards? What are MR points?

 

[SouthFayetteFan]

Ok SouthFayetteFan, I'm on there and I see your referrals. I'm curious, what's the difference between the Starwood Business and the Business Gold Rewards? What are MR points?

What are MR points...

 

[Albort]

Ok SouthFayetteFan, I'm on there and I see your referrals. I'm curious, what's the difference between the Starwood Business and the Business Gold Rewards? What are MR points?

SPG earns SPG points. Business Gold Rewards Earn Membership Rewards which is American Express point system. Both have similar partners and different partners.

 

[SouthFayetteFan]

Ok SouthFayetteFan, I'm on there and I see your referrals. I'm curious, what's the difference between the Starwood Business and the Business Gold Rewards? What are MR points?

This link does a decent job explaining for a newbie: https://millionmilesecrets.com/2014...-points-part-1-all-the-ways-to-get-to-europe/

They are basically a pretty awesome kind of point that you can do lots of things with depending on which cards you have.

 

[1GoldenSun]

SPG earns SPG points. Business Gold Rewards Earn Membership Rewards which is American Express point system. Both have similar partners and different partners.

Ok, so the 25,000 SPG points vs 50,000 MR points is meaningless because it's not comparing apples to apples? How do you standardize the scale? What's 25,000 SPG worth and what is 50,000 MR worth?

 

[SouthFayetteFan]

Ok, so the 25,000 SPG points vs 50,000 MR points is meaningless because it's not comparing apples to apples? How do you standardize the scale? What's 25,000 SPG worth and what is 50,000 MR worth?

lol wow you're getting deep now. Well you probably want to factor in the min. spend and actually compare 30k SPG vs. 55k MR...

30k SPG can be redeemed for hotels or numerous other things. What they're worth can vary based on how you use them. They are at least worth $600 and potentially much more.

55k MRs can be transferred to airline partners, redeemed for gift cards, redeemed for stmt credits (or cash if you get a Schwab Plat) - again depends on how you use them. They worth at least $550 and probably much more...

I know this is a terrible answer to your question but not knowing how you plan to use them it's almost impossible to give you a better one.

 

[Albort]

Ok, so the 25,000 SPG points vs 50,000 MR points is meaningless because it's not comparing apples to apples? How do you standardize the scale? What's 25,000 SPG worth and what is 50,000 MR worth?

depends on how you see it. MR--> SPG is a 3:1 ratio... so 1000 MR = 333 SPG(someone correct me if im wrong here).
on thepointguy.com, he values SPG @2.7cents per point and MR @ 1.9 cents per point.

SPG has a bonus where u transfer 20k to airlines, u get an additional 5k.
Its really up to how you value it. What airline transfer is the best. Keep in mind, MR is probably easier to earn vs SPG points.

 

[SouthFayetteFan]

depends on how you see it. MR--> SPG is a 3:1 ratio... so 1000 MR = 333 SPG(someone correct me if im wrong here).
on thepointguy.com, he values SPG @2.7cents per point and MR @ 1.9 cents per point.

SPG has a bonus where u transfer 20k to airlines, u get an additional 5k.
Its really up to how you value it. What airline transfer is the best. Keep in mind, MR is probably easier to earn vs SPG points.

Using TPGs figures - although I don't always agree with his calculations you get this:

30k SPG = $810
55k MR = $1045.

So somewhere between this valuation and my valuation is probably the truth. Safe to say that both signups are worth somewhere between $600 and $1,000. @1GoldenSun Since it sounds like you already have a lot of Marriott (SPG) points I recommended that as it might be something you're comfortable with - but neither of these cards would be a bad decision for your goals.

 

[1GoldenSun]

Oh Jiminy Crickets I'm going to have to read that later. Well, i can always

lol wow you're getting deep now. Well you probably want to factor in the min. spend and actually compare 30k SPG vs. 55k MR...

30k SPG can be redeemed for hotels or numerous other things. What they're worth can vary based on how you use them. They are at least worth $600 and potentially much more.

55k MRs can be transferred to airline partners, redeemed for gift cards, redeemed for stmt credits (or cash if you get a Schwab Plat) - again depends on how you use them. They worth at least $550 and probably much more...

I know this is a terrible answer to your question but not knowing how you plan to use them it's almost impossible to give you a better one.

No, that is an excellent answer. I've looked over the two and I think I'm going with the MR points this time. Maybe I'll get the SPG next. DH has so many Marriott points they just don't have the allure they once had.