I love credit cards so much!

[Lain]

I’ve been approved for the Marriott Biz! But with only a $5k credit line. I applied with my eBay “business” that made $11k revenue last year. It was pending at the 2 weeks message all yesterday. My CIP (for another “business”) has a $20k credit line. I don’t know how Chase decides to throw these random credit limits at us, but it looks like I may be pushing my limit on the business lines and will need to reduce my business credit limits or cancel a card before trying for my third business card down the line.

ETA: I intend to sock drawer the Marriott Biz after I’ve met the MSR and close the card when my free first year is up. The benefits are just inferior to the SPG Biz, and who knows what Chase and Amex have planned for the new Marriott cards.

 

[Judique]

You’ve got a point. Ideally, you don't want to spend anything that you weren't going to spend anyway to earn points for award travel, even though occasionally you have to spend some nominal amount like annual fees or transaction fees in pursuit of signup bonuses.

Buying points makes sense if you have a redemption in mind but you don't have the points to book it, and the redemption only makes sense where the points value for the booking is greater than the cash value of what you spent on the points.

So in my example, if I wanted to stay at a certain hotel (say the Royal Hawaiian) where a room is worth about 3.7¢ per point ($835/night with taxes or 22,500 Starpoints including taxes), I'll have "saved" some money if I bought Starpoints at 2.1¢. But with SPG, redeeming Starpoints for Free Nights includes the added benefit of the fifth night free, thus extending the value of my redemption. That means I could book 5 nights for 90,000 Starpoints (4x22,500), plus change for resort charges, for a room that would’ve cost $4,177 with taxes, bringing my redemption to 4.6¢ per point. Pretty good deal! But with SPG, you need to have the points in your account before you can book. I didn’t have 90,000 Starpoints for 4 or 5 nights. Now I do!

I don't know if it's fair to say I “saved” money (because I could always opt for cheaper accommodations), but the point is not to lose money on the deal. I could have booked the same hotel for the same dates through the UR portal with points I already have (I haven’t done the math comparing booking with UR points vs. Starpoints), but the reservation is non-refundable whereas SPG Free Nights are refundable. That flexibility has value to me. And if I decide to cancel my reservation, I’m sure I’ll use the points somewhere (although that means I’ll have cash tied up in award points).

So that’s where I’m coming from on this deal.

Lain, you've explained this very well and in great detail.
There are so many variables when we are chasing these deals!
Back when I first started using Starpoints in the early 2000's, we valued them at approximately 4 cents per point. It's nice to see that you can still on occasion get that value!

I buy points from 2 other programs on occasion. IHG and Carlson. Both because buying points makes sense if the room I am going to pay for anyway will be cheaper by buying the points. Of course IHG put a crimp on that plan this year by boosting the points needed up another 10K! I haven't done the math to see if I want to exceed what I normally pay in points or if I want to stay at another property. In the case of the IHG hotel, points value made the cost about $250 while cash was over $500. As the margin narrows, seeking a room closer to my budget becomes more important.

Carlson has given me the credit card, which essentially sells me 40K points each year for $75(annual fee). Since I use these points at a low value (15000) hotel while driving to Disney, I'm set for a few trips each year, until they up the point cost again. The default is also to use cash and points.

IHG credit card gives the free (ie $49 annual fee) room so combining a points room and a free room still gives a good value when you are talking $500 per night. (I usually use this combo for a weekend stay in summer at the beach.)

So the point is, the value is what is actually perceived by the purchaser as a good deal for their lifestyle.

This is also why I am working on spend for the Marriott card and have gotten the Hyatt card - both will give me mini vacations yearly in already identified locations that I would spend for anyway.

 

[Psychodisney]

I’ve been approved for the Marriott Biz! But with only a $5k credit line. I applied with my eBay “business” that made $11k revenue last year. It was pending at the 2 weeks message all yesterday. My CIP (for another “business”) has a $20k credit line. I don’t know how Chase decides to throw these random credit limits at us, but it looks like I may be pushing my limit on the business lines and will need to reduce my business credit limits or cancel a card before trying for my third business card down the line.

ETA: I intend to sock drawer the Marriott Biz after I’ve met the MSR and close the card when my free first year is up. The benefits are just inferior to the SPG Biz, and who knows what Chase and Amex have planned for the new Marriott cards.

I have a question for you on your 2 businesses....are they both ss# or do you have an EIN for one of them. I'm going to dip into the business world for CIP but I also will want to try to get the SW business late this year. Do I need a separate business?

 

[hsmamato2]

I don't know for certain because I haven't actually made a booking using SPG points yet, but I'm thinking you are correct in that you have to have the points to book. When I was looking at Swan and Dolphin for a stay long before I had enough points in my account, it wouldn't even allow me to select the award room. It said points + cash wasn't available for that booking. I'm sure someone more familiar with booking will be able to confirm.

You have to have the points before booking. You can only book cash and points if they're available (in many years booking here,I've only gotten that rate once) very limited dates for that option. The good thing about booking 100% on points is the taxes are included which adds up fast! You do however still pay the resort fee and parking(if you have a car,which is why I avoid having a car at Dolphin)

 

[Lain]

I have a question for you on your 2 businesses....are they both ss# or do you have an EIN for one of them. I'm going to dip into the business world for CIP but I also will want to try to get the SW business late this year. Do I need a separate business?

Both applications were under my SSN as sole proprietor. I applied for the CIP in June 2017 using some consulting I've done as my business. For the Marriott Biz, I used my eBay business. I don't know that you need separate businesses for different cards. Your one business could just be going for different cards for their different benefits, or to segregate types of expenses. However, it seems most commonly people use SSN for one business and EIN for another business when they're trying to get two of the same card, like the CIP, to double dip the bonus.

 

[hsmamato2]

Thanks, Lain. I definitely see why you bought the points! I can see the value in a place that is $835/night. We just don't have anything like that on the horizon. Most likely our SPG points will be used at Swolphin and we tend to go at low-crowd times (also means less $$) and Swolphin is like $139/night then. So I just wanted to make sure I wasn't missing something by not buying the points. If I had a stay at a resort like you are planning, it's something I'd jump on.

I buy them on sale usually once a year,and I don't mind using them at swolphin..... I still come out ahead of paying oop based on our usual travel dates, (upcoming trip is $401 with taxes per night) the fact that it includes taxes in points bookings(it adds up) and the 5th night free... still comes out ahead for us.(or I can call it this, the cheapest way to stay onsite lol disney math)

 

[hsmamato2]

here we go folks...... I need to breathe..... time to either pay my CSP AF,or get rid of it..... I'm panicking as currently I have the CSR and planning on at least another year with that.... but I know the new rules won;t let me get both products- so I feel like I'm losing something(what I don't know lol) is there any product I can pc down to here,or must I flat out cancel it? I'm not 100% sure but it's one of my older cards also(since I accidentally got another,older card shut down a while back)

 

[havaneselover]

here we go folks...... I need to breathe..... time to either pay my CSP AF,or get rid of it..... I'm panicking as currently I have the CSR and planning on at least another year with that.... but I know the new rules won;t let me get both products- so I feel like I'm losing something(what I don't know lol) is there any product I can pc down to here,or must I flat out cancel it? I'm not 100% sure but it's one of my older cards also(since I accidentally got another,older card shut down a while back)

Do you have CFU? That's what I will PC to in August. I plan on keeping CSR so CSP does nothing for me (except these occasional Chase Pay offers).

 

[Psychodisney]

here we go folks...... I need to breathe..... time to either pay my CSP AF,or get rid of it..... I'm panicking as currently I have the CSR and planning on at least another year with that.... but I know the new rules won;t let me get both products- so I feel like I'm losing something(what I don't know lol) is there any product I can pc down to here,or must I flat out cancel it? I'm not 100% sure but it's one of my older cards also(since I accidentally got another,older card shut down a while back)[/QUOT

You can definitely change to CF or CFU.

 

[Lain]

here we go folks...... I need to breathe..... time to either pay my CSP AF,or get rid of it..... I'm panicking as currently I have the CSR and planning on at least another year with that.... but I know the new rules won;t let me get both products- so I feel like I'm losing something(what I don't know lol) is there any product I can pc down to here,or must I flat out cancel it? I'm not 100% sure but it's one of my older cards also(since I accidentally got another,older card shut down a while back)

Agreed with @Psychodisney. PC it down to a Freedom or Freedom Unlimited depending whether you want the rotating 5% categories or 1.5% back on everything. Both are no AF cards.

You're not losing much with the CSP if you decide to keep the CSR. The CSR offers pretty much everything the CSP offers, but better (e.g., 50% higher UR redemption vs. 25% more; 3x dining and travel vs. 2x). The CSP does earn you 5k UR for adding AUs, which the CSR doesn't offer.

If you're keeping the CSR for another year (I'm assuming at least 2 years total), when the CSR comes up for renewal, you could conceivably PC the CSR down to a Freedom/FU card, leaving you with no Sapphires, and when it's been 24 months since your CSR signup bonus posted, double dip both the CSR and CSP again if that trick still works and you're under 5/24.

 

[hsmamato2]

Do you have CFU? That's what I will PC to in August. I plan on keeping CSR so CSP does nothing for me (except these occasional Chase Pay offers).

ohhhhh that's an option? I'd LOVE to get one of those for myself..... thanks! I have the reg. FR card already.... can I SM to do this?

 

[hsmamato2]

Agreed with @Psychodisney. PC it down to a Freedom or Freedom Unlimited depending whether you want the rotating 5% categories or 1.5% back on everything. Both are no AF cards.

You're not losing much with the CSP if you decide to keep the CSR. The CSR offers pretty much everything the CSP offers, but better (e.g., 50% higher UR redemption vs. 25% more; 3x dining and travel vs. 2x). The CSP does earn you 5k UR for adding AUs, which the CSR doesn't offer.

If you're keeping the CSR for another year (I'm assuming at least 2 years total), when the CSR comes up for renewal, you could conceivably PC the CSR down to a Freedom/FU card, leaving you with no Sapphires, and when it's been 24 months since your CSR signup bonus posted, double dip both the CSR and CSP again if that trick still works and you're under 5/24.

thanks for the tips.... is it possible to pc from csr-csp if desired?

 

[Alexle2007]

Yay! My Marriott bonus points have posted! I thought I was just short of the spend based on the statement closing but nope, the points are there plus the extra points for using DS's AU card. Now I just need the extra 20k points for referring DH Since Marriott gives you 5 points for paying a Marriott stay with their Visa, I am thinking I should use it when I am OOP rather than my CSR which only gives me 3 points. I started to try and map out how many points I might need for Australia, hopefully in 2020, for my 20 year anniversary and DS starting high school.

 

[havaneselover]

ohhhhh that's an option? I'd LOVE to get one of those for myself..... thanks! I have the reg. FR card already.... can I SM to do this?

Most people seem to be able to get it done over sm.

 

[wendow]

ohhhhh that's an option? I'd LOVE to get one of those for myself..... thanks! I have the reg. FR card already.... can I SM to do this?

I did it over SM.

 

[Lain]

ohhhhh that's an option? I'd LOVE to get one of those for myself..... thanks! I have the reg. FR card already.... can I SM to do this?

Most people seem to be able to get it done over sm.

Try sending a SM to Chase with your request first. There are recent reports that Chase will tell you to call in to do it. (SM may have been overwhelmed by PC requests with the CSR hitting 1 year. And probably to make it harder for you to PC to a no fee card.) Should still be easy to do on a call.

thanks for the tips.... is it possible to pc from csr-csp if desired?

Yes, you can PC from a CSR > CSP. Be sure to use up your $300 travel credit before you PC.

 

[peel]

A few days??!??! I can't go a few hours without checking in lol!

Also For those wondering, vaca at WDW has been great so far but January is definitely seeing an uptick in crowds. Still has to be one of the slowest times though.

I was there last week and the crowds were unbelievable. We always go in January to avoid crowds, and the crowd calendar predictions for last week were low, but there were hordes of people everywhere. I couldn't believe the wait times for the heavy hitter attractions, and at one point there was even a 30 minute wait for Living with the Land. It wasn't as enjoyable a trip as in past years, and I don't think there will truly be a slow time at WDW again. The weather was perfect for us though.

 

[peel]

ohhhhh that's an option? I'd LOVE to get one of those for myself..... thanks! I have the reg. FR card already.... can I SM to do this?

You can also PC to a second Freedom. Might be worth it if you think you can max out the bonus categories on both.

 

[3 DD love princesses]

Wow stay away for a day and a half and so much happens

Quotes aren’t working for me at moment so bare with me

-Congrats to retirement and enjoy all the free time to travel!

- 2700 it posted to my account finally from the CSR purchase

I’m still waiting for ur for the CSP.

 

[WardFam]

My husband and I both have csr and my AF is going to hit soon. I love this card and want to keep using it, but I'm wondering if it would make sense to add me as an AU on his card and downgrade mine to a Freedom. (Which one do people suggest?)