I love credit cards so much!

[speedyfishy]

SO’s Barclay Business card was declined. They are mailing us the reasons.

 

[DaveL]

There's no certain data point about how soon after reducing your credit lines does that credit potentially free up to open new cards.

I play it more cautiously. I reduced the credit limit on one of my Chase cards by about $10k around 3 weeks ago in preparation to apply for the CIC. The change reflected on my Chase account immediately. However, my credit reports still show the old limit for that card, which last reported a month ago. My statement for that card closes today or tomorrow, so I'm waiting for my reports to update with the lower credit limit before putting in a new application.

Alright, I might just give it a go since I will be under 50% and it sounds like it might not even take in before the app. I'd also hate to lower it and have it negatively impact my score for nothing. I do plan on canceling the two SW cards at the 1 year mark but before that I was going to move a bit of the limit to the CSR.

 

[Lain]

I was planning on cancelling it next month anyway, so I'll just call today and cancel it.

DH is an AU on this SW card. Does anyone know if cancelling it will remove his */24 spot, or would I have to have the AU removed and his history swept before closing it (he's only at 1/24, so it's not a big deal either way)

I think you'd need to remove him as AU first.

When will you get your anniversary points from SW? You may want to let those post before cancelling.

Just to add, I do think closing your primary card would have the effect of removing DH as an AU. However, affirmatively removing DH as an AU before closing the card makes the paper trail look cleaner, and it's not hard to do. You can typically remove an AU by sending Chase a SM from your account, saying you want to remove DH as an AU on card ending xxxx. You don't have to clean up DH's credit report before closing the card. You can do that whenever you want. And if DH is only at 1/24, the AU account may drop off (once past 24 months) on it's own before you even need to free up that AU slot.

 

[JC0712]

SO’s Barclay Business card was declined. They are mailing us the reasons.

Sorry.

 

[CyndiLouWho]

I’ve never had success with a retention on Marriott cards. They always point to the free night and that’s it those calls are always a bummer lol!

You mean the free night I can’t find anywhere to use?

 

[SouthFayetteFan]

But if I buy the cat 7 package now for 330k, then the Westin becomes a cat 7 I should be able to redeem my cert for it, or no?

This is definitely an unknown. As you all know, I am very optimistic, but I also am realistic...

• Is it POSSIBLE that Marriott would just take an OLD 7-night Category7 certificate and let it apply to the NEW Category7 - it seems like yes it is possible
• Is it LIKELY...maybe not. If you have an OLD 7night Category 7 cert...that would have worked on properties that are 35,000 points per night. Now suddenly they're going to let you use it on properties that are 60,000 points per night (and the nicest most expensive properties in the Marriott/SPG/Ritz lineup at that)...hmmmm
• The realistic me assumes that there will be some conversion done where your OLD Cat7 cert will become a NEW Cat5 cert (keeping the 35,000 points the same). Marriott is nice but are they suddenly going to almost double the value of your certificate...maybe not
• Now...MAYBE if you had an OLD Cat6 Cert (currently 30k per night) they would give you a NEW cat5 cert (35k points) since there is NO 30k / night category in the NEW chart...
• They could also do the same for OLD Cat8 and OLD Cat9 certs and give those folks NEW Cat6 certs...
• They also could make much worse decisions than what I've detailed above that we won't speak of...
• Obviously this is all speculation on my part

For those that have existing certificates I would love if this somehow worked out in your favor I just wouldn't go into this 100% EXPECTING to game the system.

 

[SouthFayetteFan]

You mean the free night I can’t find anywhere to use?

haha, yup - and when I say that to the rep they say With X,000 properties in that category I'm sure there's a great one out there for you!

 

[Judique]

First off - yes the 20,714 should be including the 5th night free already.

Unfortunately, You have too many variables here to make a good decision:

• This is currently an SPG property at a Cat6 based on the current chart
• the Nights and Flights prices your're using are based on Marriott's current chart
• The SPG property MIGHT become a Cat 7 in Marriott's NEW chart (or could be a cat 8 but be a cat 7 initially due to that loophole)
• The Marriott Nights and Flights schedule will also change to match the NEW chart in August so what you're seeing now will not be true anymore

On the 120k Air Miles package, I would anticipate a NEW cat7 Marriott property to require 480,000 Marriott points

It's kind of a wait and see situation. Some SPG properties will be a deal short term from August until December due to the addition of a higher category not starting until January 2019. When the points charts come out we will have a better idea. We are also trying to hit this sweet spot for a pre Christmas trip at a former SPG/ new Marriott property.

 

[Lain]

What's the "give gold" link under each post on reddit?

 

[amalone1013]

I can't remember... is there a limit on how many starpoints I can transfer to my account from DHs? These are his sign up bonus points from SPG biz.

 

[Lain]

I can't remember... is there a limit on how many starpoints I can transfer to my account from DHs? These are his sign up bonus points from SPG biz.

There are no limits on Starpoint transfers between accounts.

 

[Alexle2007]

DS11 has his shadow day at a private school to attend 7th grade there in the fall, assuming he likes it. We'll then have $20k+ in tuition a year to cover if that happens. Guess I better make sure they accept CCs first since I'd hate to be ponying up over $100k in 5 years with no return.

 

[SouthFayetteFan]

It's kind of a wait and see situation. Some SPG properties will be a deal short term from August until December due to the addition of a higher category not starting until January 2019. When the points charts come out we will have a better idea. We are also trying to hit this sweet spot for a pre Christmas trip at a former SPG/ new Marriott property.

Yup, all true. Specifically with this @disneymagicgirl's question being related to a Marriott nights and flights package it also brings in a whole slew of additional variables as captured in this comment: https://www.disboards.com/threads/i-love-credit-cards-so-much.3528202/page-1346#post-59194596

 

[SouthFayetteFan]

I can't remember... is there a limit on how many starpoints I can transfer to my account from DHs? These are his sign up bonus points from SPG biz.

The only limit is how many SPG points can you earn?? LOL!

 

[Lain]

SO’s Barclay Business card was declined. They are mailing us the reasons.

So sorry for the bad news... I've read Barclays pulls almost exclusively from TransUnion, is very inquiry sensitive, and pretty much thinks issuing you two their cards is sufficient.

 

[Judique]

This is definitely an unknown. As you all know, I am very optimistic, but I also am realistic...

• Is it POSSIBLE that Marriott would just take an OLD 7-night Category7 certificate and let it apply to the NEW Category7 - it seems like yes it is possible
• Is it LIKELY...maybe not. If you have an OLD 7night Category 7 cert...that would have worked on properties that are 35,000 points per night. Now suddenly they're going to let you use it on properties that are 60,000 points per night (and the nicest most expensive properties in the Marriott/SPG/Ritz lineup at that)...hmmmm
• The realistic me assumes that there will be some conversion done where your OLD Cat7 cert will become a NEW Cat5 cert (keeping the 35,000 points the same). Marriott is nice but are they suddenly going to almost double the value of your certificate...maybe not
• Now...MAYBE if you had an OLD Cat6 Cert (currently 30k per night) they would give you a NEW cat5 cert (35k points) since there is NO 30k / night category in the NEW chart...
• They could also do the same for OLD Cat8 and OLD Cat9 certs and give those folks NEW Cat6 certs...
• They also could make much worse decisions than what I've detailed above that we won't speak of...
• Obviously this is all speculation on my part

For those that have existing certificates I would love if this somehow worked out in your favor I just wouldn't go into this 100% EXPECTING to game the system.

I think it partly will hinge on how many of those certificates are actually out there.
So far, Marriott has been pretty reasonable in the transition. The certificates are only good for a year (as are free nights) yet they have been nice about extensions. I think most of the people probably trying to 'save' by transitioning their points into Marriott nights and flights are people who were SPG members, many of us who expected a devalued program, and the reality is the program has transitioned well.

I also wouldn't call it gaming the system. It's really about maximizing the value of what you have versus the possible devaluation - similar to when a new point chart comes out - effective in 2 weeks - you would try to book based on the old chart with your already earned points as when you earned them, you expected them to be worth 'X'.

The one thing about points and rewards is they don't normally gain interest or value over time - usually the point when you earn is their highest value point.

So, if on this one occasion there is a slight hedge against inflation, I don't think Marriott will work very hard to kill it as it's only a temporary gain for a few.

 

[wendow]

DS11 has his shadow day at a private school to attend 7th grade there in the fall, assuming he likes it. We'll then have $20k+ in tuition a year to cover if that happens. Guess I better make sure they accept CCs first since I'd hate to be ponying up over $100k in 5 years with no return.

My friend's kids attend a private school with a similar tuition. He says it's 3% to pay with a CC. Sounds like 'plastiq time' to me

 

[SouthFayetteFan]

What's the "give gold" link under each post on reddit?

https://www.reddit.com/gold/about/

It allows you to turn off Ads and will remember which comments you've read. You also are shown more comments per page right off the bat on really long threads. You can buy it for yourself or gift it to somebody else by "giving gold" on their post. The funds support Reddit I believe (basically their expenses).

I got it once from r/churning due to something I did there...it wasn't that special...haha. It was gone after a few months and it didn't change my life LOL

 

[Lain]

I'd hate to be ponying up over $100k in 5 years with no return.

What about your son's educational advancement, and emotional, psychological and physical development?

 

[Alexle2007]

My friend's kids attend a private school with a similar tuition. He says it's 3% to pay with a CC. Sounds like 'plastiq time' to me

I wish I could I talk DH into Plastiq, especially for our mortgage. But he doesn't like to pay "extra" in real money.