I love credit cards so much!

[1GoldenSun]

I already have a CSP so I can't double dip (in the first sense of the term as defined by @Lain). I will have had this card for two years as of June. I have never had the CSR. Would I be able to cancel the CSP and then re-apply for it after June and at the same time apply for the CSR?

I currently don't have any card on which I'm working toward the minimum spend, so I should probably apply for another card now. If I'm going to do what I mentioned above I can't apply for another Chase card because I'll need to still be 3/24 in July. Any suggestions? I just got both the AmEx Gold Biz and the AmEx SPG Biz in the last few months.

Or should I just sit tight for a while? Are you "experts"-- @SouthFayetteFan, @calypso726, @wendow, @Lain, etc.-- usually always working toward a MSR on a new card or are you sometimes just generating bonus points by actually using the cards you've already had for a while? I don't know if I'm supposed to be satisfied with earning points at this "slower" rate or if I should always be working toward a signup bonus.

 

[hsmamato2]

I just want to point out that Marriott has Categories 1-9; Ritz Carlton has Tiers 1-5. The points needed for RCs is MUCH higher than Marriott, so look closely at whether it's Category vs Tier.

I saw that....how do I know what I'd get with the package since it's cat 1-5? what does that mean for tiers?

 

[pillow]

I saw that....how do I know what I'd get with the package since it's cat 1-5? what does that mean for tiers?

The tiers are listed on the same chart as the categories - http://www.marriott.com/rewards/usepoints/morepack.mi?aff=MARUS&affname=5680988&co=US&nt=CJ

 

[Albort]

I already have a CSP so I can't double dip (in the first sense of the term as defined by @Lain). I will have had this card for two years as of June. I have never had the CSR. Would I be able to cancel the CSP and then re-apply for it after June and at the same time apply for the CSR?

I currently don't have any card on which I'm working toward the minimum spend, so I should probably apply for another card now. If I'm going to do what I mentioned above I can't apply for another Chase card because I'll need to still be 3/24 in July. Any suggestions? I just got both the AmEx Gold Biz and the AmEx SPG Biz in the last few months.

Or should I just sit tight for a while? Are you "experts"-- @SouthFayetteFan, @calypso726, @wendow, @Lain, etc.-- usually always working toward a MRS on a new card or are you sometimes just generating bonus points by actually using the cards you've already had for a while? I don't know if I'm supposed to be satisfied with earning points at this "slower" rate or if I should always be working toward a signup bonus.

you need to wait at least 24 months to earn another signup bonus. You could however, upgrade your CSP to an CSR if u like. CSR is a better card imo.
Im not quite sure where u are, u said 3/24 in july? what are you now? Another sense of double dipping is applying for 2 chase cards when ur at 4/24, pushing you up to 6/24. so you can hit both freedom cards too, or a UA, or SW, or Marriott.
might be a good idea to do some slow earning, i mean, u dont want churn and burn right?

 

[hsmamato2]

If I'm understanding right, what you're asking here is: what is the value of 50K SW (aka RR) points? The last I heard, the redemption of SW points for flights is basically 70 SW points = $1. (It used to be 60 SW points = $1, but even SW devalues over time. And before that there was the SW credit system which was even sweeter if you used it right...) There's a bit more to it, because using points as payment also reduces some other fees associated with the ticket and no matter the cost of the ticket there's always a $5.60 one-way fee domestic to pay OOP. But for this purpose, let's keep it simple.

Going with the 70pts/$1 --> 50,000 SW pts = $714

Buying 17K SPG points on sale = 51,000 Marriott points. Costs $387

$714 - $387 = $327 extra value

Stuff like this is why I buy SPG points on sale. I've flown Southwest for years on points alone through the Marriott travel packages.

If I'm understanding right, what you're asking here is: what is the value of 50K SW (aka RR) points? The last I heard, the redemption of SW points for flights is basically 70 SW points = $1. (It used to be 60 SW points = $1, but even SW devalues over time. And before that there was the SW credit system which was even sweeter if you used it right...) There's a bit more to it, because using points as payment also reduces some other fees associated with the ticket and no matter the cost of the ticket there's always a $5.60 one-way fee domestic to pay OOP. But for this purpose, let's keep it simple.

Going with the 70pts/$1 --> 50,000 SW pts = $714

Buying 17K SPG points on sale = 51,000 Marriott points. Costs $387

$714 - $387 = $327 extra value

Stuff like this is why I buy SPG points on sale. I've flown Southwest for years on points alone through the Marriott travel packages.

Thanks you (all) for the input! Ok.... here's what I'm guessing at- I have 70k=210k Marriott points.
I can either
1) use 60k spg for 200k Marriott,and get 7 nights+ 50k SWA points. (and still have enough for a free night at dolphin leftover)
------OR------
2) I could buy 20k points for $455 (sale) and turn my 90k spg into 270k Marriott for the 7 nights+ 120k SWA points.
Going with this premise, that extra 50k SWA will cost me $455....right?
This is IF,and it's a big IF....I can find a place I want to be in Cat 1-5 Marriott within the next year. For my 'small potatoes' life, this is big decision to make.
I am seriously weighing future swolphin stays with extra SWA points right now..... this is not easy!
(amount of spg for swolphin I have = approx5-6 nights if I don't do this,which in my world= $1600-1800 saved,but speculatve trips only))

 

[hsmamato2]

as long as we're on the subject..... does Dolphin qualify any longer for the nights/flights deal? I know it's jumping to cat 5,or is that a thing of the past now too? (I'm good at missing deals myself!) since it would be an easy 5 nights/50k points to airline

 

[miztressuz]

I already have a CSP so I can't double dip (in the first sense of the term as defined by @Lain). I will have had this card for two years as of June. I have never had the CSR. Would I be able to cancel the CSP and then re-apply for it after June and at the same time apply for the CSR?

I currently don't have any card on which I'm working toward the minimum spend, so I should probably apply for another card now. If I'm going to do what I mentioned above I can't apply for another Chase card because I'll need to still be 3/24 in July. Any suggestions? I just got both the AmEx Gold Biz and the AmEx SPG Biz in the last few months.

Or should I just sit tight for a while? Are you "experts"-- @SouthFayetteFan, @calypso726, @wendow, @Lain, etc.-- usually always working toward a MSR on a new card or are you sometimes just generating bonus points by actually using the cards you've already had for a while? I don't know if I'm supposed to be satisfied with earning points at this "slower" rate or if I should always be working toward a signup bonus.

I don't have first hand experience myself but I've been reading up on the double dip in preparation My understanding is this:
Yes you can cancel the CSP and then re-apply to get the bonus. Make sure you are past the 24 months since you earned the bonus when you re-apply. (make sure it's when you received the bonus and NOT when you applied/opened the account) Also it's good to be at least 30 days since you cancelled the CSP to make sure it's all be recorded as closed everywhere so you don't get tripped up on the one Sapphire rule. Since you are applying for both cards on the same day, you just need to be 4/24 to get by the under 5/24 rule.

 

[DisneyMandC]

We use “double dipping” (and sometimes “triple dipping”) in different ways depending on context.

For the CSP and CSR, it’s applying and getting approved for both cards on the same day. Last year, Chase implemented a new rule we call the “one Sapphire rule,” which is you can only hold one Sapphire product at a time, and you can only get one signup bonus from any Sapphire product every 24 months. For most people, that’s no big deal because they’ll pick one or the other. But if you wanted to pick up both cards for their signup bonuses, (1) you can’t have one Sapphire card already open if you want to get the other Sapphire card; and (2) even if you close or product change the Sapphire card you already have so you can get the other Sapphire card, you won’t be able to get the bonus if you got a bonus for your first Sapphire card on the past 24 months. The one trick that works to get around the one Sapphire rule is to apply and be approved for both the CSP and CSR on the same day (“double dipping”). But this means you have to meet the MSR on two cards in the same 3 months period, a combined $8k spend.

Another way we use “double dipping” is when we take two bites of the apple, like using an annual benefit twice on only one annual fee. So for example, some Amex cards offer an airline credit benefit that can be used to buy airline gift cards. The benefit is a calendar year benefit that resets every January 1. You could double dip this benefit by using it up when you first get the card, and again starting January 1 the next year before your AF posts and you decide maybe you want to cancel the card. (Same idea with the CSR’s $300 travel credit, which resets every calendar year.)

What happens if you're not auto approved for both cards that day? DH and I both, for whatever reason, always seem to get the 30 day notice and then are approved a couple days later. I was thinking of double dipping him, but I'll just get CSR for him if double dipping is going to mess up our chances of approval.

 

[speedyfishy]

I already have a CSP so I can't double dip (in the first sense of the term as defined by @Lain). I will have had this card for two years as of June. I have never had the CSR. Would I be able to cancel the CSP and then re-apply for it after June and at the same time apply for the CSR?

I currently don't have any card on which I'm working toward the minimum spend, so I should probably apply for another card now. If I'm going to do what I mentioned above I can't apply for another Chase card because I'll need to still be 3/24 in July. Any suggestions? I just got both the AmEx Gold Biz and the AmEx SPG Biz in the last few months.

What two cards did you want in July? In June I would cancel the CSP and double dip then. Until then I’d stay under 5/24. Get some more business cards and you can get one more Chase card. You can be 4/24 when you go for two Chase cards. Do you have the CIP? Do you need Marriott points? United? Southwest? You could get the American Airlines Business. It’s 60k points, but people have been matching to 75k after applying.

 

[Albort]

What happens if you're not auto approved for both cards that day? DH and I both, for whatever reason, always seem to get the 30 day notice and then are approved a couple days later. I was thinking of double dipping him, but I'll just get CSR for him if double dipping is going to mess up our chances of approval.

apply for card 1, 30 day pending. Call Recon asap. card approve, apply for card 2 right after. call if pending.

 

[Lain]

I already have a CSP so I can't double dip (in the first sense of the term as defined by @Lain). I will have had this card for two years as of June. I have never had the CSR. Would I be able to cancel the CSP and then re-apply for it after June and at the same time apply for the CSR?

@Albort is right, you need to wait 24 months after you earned your first CSP bonus. Then, you could cancel your CSP or product change your CSP to a no fee Freedom or Freedom Unlimited and do a CSP+CSR double dip.

I currently don't have any card on which I'm working toward the minimum spend, so I should probably apply for another card now. If I'm going to do what I mentioned above I can't apply for another Chase card because I'll need to still be 3/24 in July. Any suggestions? I just got both the AmEx Gold Biz and the AmEx SPG Biz in the last few months.

What's your 5/24 count with Chase? Chase has some really nice business card offers. Even if you're over 5/24, you're still eligible for the Chase Marriott Biz, which has a 75k Marriott Rewards points bonus after $3k MSR in 3 months, and it's first year AF is waived. [ETA: As you probably already know, Chase business cards won't add to your 5/24 count.]

Or should I just sit tight for a while? Are you "experts"-- @SouthFayetteFan, @calypso726, @wendow, @Lain, etc.-- usually always working toward a MSR on a new card or are you sometimes just generating bonus points by actually using the cards you've already had for a while? I don't know if I'm supposed to be satisfied with earning points at this "slower" rate or if I should always be working toward a signup bonus.

I wouldn't call myself an "expert." I'm actually very slow in between signing up for new cards because I tend to wait for offers that are at an all time high or otherwise so good that I can't resist. I also dread working on MSRs for new cards. The reason being is I work really hard to optimize my spending to the various bonus categories on the cards already in my wallet, and a lot of that means dining and travel = 3x UR on CSR; rotating categories = 5x UR on Freedom; recurring large monthly expenses = 3x UR on CIP; gift cards = 3x UR on CIP; non-bonus categories = SPG Biz. I try never to spend more money than we otherwise would, so hitting new MSRs (especially big $5k+ ones) means diverting some of the spend that I've already optimized, and that's a lost opportunity cost to me, especially since the way certain transactions code can change in the future.

I know others have different churning styles, preferring the big signup bonuses that come with each new card. But I've done pretty well with just a few cards that, yes, had really big signup bonuses, but also really useful bonus categories that keep earning me a lot of points going forward (vs. cards that you just throw in the sock drawer after you've met the MSR).

Speaking of which, I finished the Marriott Biz MSR on Tuesday and it's been sock drawered.

 

[pillow]

as long as we're on the subject..... does Dolphin qualify any longer for the nights/flights deal? I know it's jumping to cat 5,or is that a thing of the past now too? (I'm good at missing deals myself!) since it would be an easy 5 nights/50k points to airline

Its already moved to a cat 5 right? I think you might be SOL. Bummer.

 

[Angrose]

I’d recommend PNC that’s how I funded my CIP. PNC doesn’t work with Amex. With PNC you can fund 2k for checking and 2k for a savings account. I paid my credit card bill right from the account. However, there are requirements to keep the PNC account fee free for checking

No monthly service charge if you meet any ONE of the following requirements:

• OR, $500 or more, in total qualifying direct deposits[1] to the Spend, per statement period
• OR, $500 average monthly balance in Spend and Reserve
• OR, With Virtual Wallet Student
  
• OR, account holder is age 62 or over

For the savings account

No Service Charge if you meet any one of the following:
● $300 average monthly balance in this account
● At least one Auto Savings transfer of $25.00 or more each month from your PNC Bank checking account
● Account holder is under age 18
● First year waived from the opening of your savings account for Foundation Checking customers

You can close the account after 6 months for free. $25 fee if you close before then.

If you do this set your cash Advance limit to the lowest possible amount.

Before you open an account check the terms for early closure fees, rarely can you just cash it all out and shut her down when it comes time to pay the credit card usually, you'll have to be able to float enough to keep the account running fee free until early closure fees no longer apply. Next, set your cash advance limits to the lowest possible. Call the number on the back of your card or shoot them a SM, I think I requested $0 and they told me the lowest they could go was $100. You do this in case the bank changes something and tries to pass this off as a cash advance charge. If they do the credit card issuer will deny the charge because it is above the limit you have set.

PNC works for many, although there are some issues passing verification and if you have to open the account in person you can't fund with a credit card (funding with a credit card in person- when a bank even allows it- is generally known to result in cash advance fees so do not try that unless you have recent data points it works). PNC cc funding online works for most people, although I was one person who could not make it work and after 2 tries on my CFU and 1 try on a Citi card I was blocked from funding with a credit card (I was chasing a bonus, not the cc funding thankfully). Most people don't have issues so I think maybe my name on the account was slightly different than my name on the credit card (no middle initial maybe, it's the only thing I could think of that might have caused the issues). I just did the BMO route. You can open checking, savings, and money market. Open all 3 at once and fund each with $1K, then you need to sit down and figure out how to shuffle the money around to keep it fee free for 90 days so you don't get hit with an early closure fee. Open everything you want at once because you can't open any more accounts for 30 days after your first application. All 3 are totally doable, a bit tricky. I withdrew most of the money in the first month and arranged for the rest to be auto-saved to waive the fees. It's a tricky, but easy, process so if you want some tips on that specific thing shoot me a message, some people screw it up and get hit with the fees.

AND check for bank bonuses, sometimes you get lucky and can snag a bonus on top of the credit card funding. (BMO bonuses are now restricted to certain states, PNC says they are restricted but it doesn't appear the computer enforces it.)

Phew! lots of words there I know! Personally, I would attempt the double dip and hope for some bank funding to work, you get one shot at that double dip and the worst that happens is you don't make one of the spends, not the end of the world! Imho worth the risk since there are TWO banks as possible funding destinations for you.

I'm very interested in opening some accounts to help with a huge min spend I'm working on for the AMEX Biz Gold card. So, it sounds like BMO would be my best option. I opened an account with them last year for the bonus and it's still open. Do you think I need to close that account before I open any more with them? Would I need to open a different type of account than I already have?

Also, I'm wondering if AMEX would allow the bank account funding to count towards the MSR for the bonus points given their new restrictions. I'm hoping this would not count as a "person to person payment" or "cash equivalent." Any thoughts?

 

[amalone1013]

where is the pricing thread?

https://www.disboards.com/threads/opening-day-pricing-mid-2019-magic-wonder-dream-fantasy.3667670/

 

[platamama]

I already have a CSP so I can't double dip (in the first sense of the term as defined by @Lain). I will have had this card for two years as of June. I have never had the CSR. Would I be able to cancel the CSP and then re-apply for it after June and at the same time apply for the CSR?

I currently don't have any card on which I'm working toward the minimum spend, so I should probably apply for another card now. If I'm going to do what I mentioned above I can't apply for another Chase card because I'll need to still be 3/24 in July. Any suggestions? I just got both the AmEx Gold Biz and the AmEx SPG Biz in the last few months.

Or should I just sit tight for a while? Are you "experts"-- @SouthFayetteFan, @calypso726, @wendow, @Lain, etc.-- usually always working toward a MSR on a new card or are you sometimes just generating bonus points by actually using the cards you've already had for a while? I don't know if I'm supposed to be satisfied with earning points at this "slower" rate or if I should always be working toward a signup bonus.

How about CIP for now? It won't count toward your 3/24 in July, and you could be meeting MSR on it while waiting for July to arrive (curious why you need to be 3/24 in July?). Once you have your CIP, transfer your CSP URs over to the CIP URs and then close your CSP (or convert as suggested by others) after every last UR is transferred including the pending ones. Once you're past the 24 month bonus timeframe from the CSP (I like the 30 day padding @miztressuz suggests) then apply for the CSR if you want it then.

As for always working toward a MSR, I'm definitely conflicted. Once you have the livery of credit cards that serve you well, there is that feeling of lost opportunity that @Lain is speaking to. What I try to calculate is the monetary value of my per $1 spend ($850 cash worth of UR points for $5000 spend is 17% back [potentially even higher if redeeming at 1.25 thru the CIP UR portal for travel]) which is how I think @SouthFayetteFan tends to approach cc applications (not trying to speak for him, just basing that on comments he's previously made). Then there's also the fringe benefits (price protection, extended warranties, rental car insurance, etc.) to consider when you make purchases, as well as if you're paying an AF are you getting enough out of it to break even. Lots of things to consider, for sure!

 

[afan]

USPS Informed Delivery tells me DW’s SPG Biz is in the mail today. Approved 3/1.

Guessing it comes in an unmarked envelope right? Have mail from amex today, which annoys me because I signed up for paperless. Did with chase as well and only got the card. Curious what they've sent but have to wait til I get home. Which is also the prob with informed delivery, I get impatient when there's something I want there but on the flip side there's no surprises at the box any more.

 

[brownhaired_girl]

Well.... we checked out of the Hyatt today and are in our final room at La Cabana on Eagle Beach now for the next 6 Days.
The Govenors suite it is not. Our very small balcony overlooks the parking lot and construction area. But that being said it is clean and our vacation will be whatever we choose to make of it.

 

[elgerber]

Guessing it comes in an unmarked envelope right? Have mail from amex today, which annoys me because I signed up for paperless. Did with chase as well and only got the card. Curious what they've sent but have to wait til I get home. Which is also the prob with informed delivery, I get impatient when there's something I want there but on the flip side there's no surprises at the box any more.

Actually they do say AMEX on the envelope.

 

[speedyfishy]

I'm very interested in opening some accounts to help with a huge min spend I'm working on for the AMEX Biz Gold card. So, it sounds like BMO would be my best option. I opened an account with them last year for the bonus and it's still open. Do you think I need to close that account before I open any more with them? Would I need to open a different type of account than I already have?

Also, I'm wondering if AMEX would allow the bank account funding to count towards the MSR for the bonus points given their new restrictions. I'm hoping this would not count as a "person to person payment" or "cash equivalent." Any thoughts?

I don’t think you need to close the account. I have no personal experience with two accounts, but I have heard of people opening 3 accounts every 30 days. I plan on trying for more in a few weeks because I think I want the SPG business card next. Some people are getting 8+ accounts. I have no idea if that will work. If the bonus has also been a year you maybe eligible for another bonus if you close the first one though. I’d look at the terms.

I just met MSR about two weeks ago on the Delta Business with only BMO funding and the points posted. I think this could be different from a cash equivalent because Amex sees it as a purchase from a bank. You could always say it was processing fees or other bank fees or something.

 

[Lain]

Guessing it comes in an unmarked envelope right? Have mail from amex today, which annoys me because I signed up for paperless. Did with chase as well and only got the card. Curious what they've sent but have to wait til I get home. Which is also the prob with informed delivery, I get impatient when there's something I want there but on the flip side there's no surprises at the box any more.

It's a plain white envelope with the American Express logo and P.O. Box 247018, Omaha, NE 68124-7018 as sender.