Author Topic: Best Credit card rewards?  (Read 2075 times)

Murse

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Best Credit card rewards?
« on: May 31, 2017, 09:13:34 AM »
Hello yall,

I have good news, I am engaged to be married. We are trying to contain costs as much as possible while still achieving my fiancÚ' dream wedding. Anyways, we are both too frugal to reach the 5k/3month spend requirements for the large rewards. With a wedding in the works, I believe we will actually be able to take advantage of these rewards.

Side note, I have never done credit card churning for rewards, I have done a couple "spend 500$ for a 100$ reward." The wedding budget we are shooting for is 10k+rings (already purchased the engagement ring.)

So please tell me which card to choose, can we each get our own and put the other as an authorized spender?please Ask any follow up questions you need the answers to.
« Last Edit: May 31, 2017, 09:48:09 AM by Murse »

bacchi

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Re: Best Credit card rewards?
« Reply #1 on: May 31, 2017, 09:48:19 AM »
Are you looking for cash or travel points/miles?

Do you plan to continue churning, even at a low one card/3 months level?


Murse

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Re: Best Credit card rewards?
« Reply #2 on: May 31, 2017, 09:53:09 AM »
Are you looking for cash or travel points/miles?

Do you plan to continue churning, even at a low one card/3 months level?

Travel points. Our expenses are about 2k/month, I don't know if we will be able to achieve 5k/3months on a CC regularly but would be open to it. My credit score is >750, I am not sure if she even has one seeing as the only loan she has ever had is her student loans.

bacchi

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Re: Best Credit card rewards?
« Reply #3 on: May 31, 2017, 10:23:35 AM »
Ok, first, Chase will only give you a card if you've had less than 5 new card accounts* (from any bank) over the past 24 months. That's important for planning.

These are the current, best, offers (from r/churning).
https://docs.google.com/spreadsheets/d/1UEWoLQ3JqVIwHPRuXYuGw13pI5bzQ1C6f37q6RU1idE/htmlview?sle=true

The ideal is to plan a trip and then figure out which cards work for you. Will United get you there or is it only American (or their partners)? Does Hyatt have hotels in your destination city? Does Southwest serve your local airport? Etc.


If you just want to get started, I'd start with the Chase Sapphire Preferred. The annual fee is waived the first year and it provides 50k points to transfer or use for travel. It's a $4k/3 months card.



*Last I checked, the Chase Hyatt and Chase IHG are exempt from this rule. Get them after you've reached 5/24.

Murse

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Re: Best Credit card rewards?
« Reply #4 on: May 31, 2017, 10:35:22 AM »
Ok, first, Chase will only give you a card if you've had less than 5 new card accounts* (from any bank) over the past 24 months. That's important for planning.

These are the current, best, offers (from r/churning).
https://docs.google.com/spreadsheets/d/1UEWoLQ3JqVIwHPRuXYuGw13pI5bzQ1C6f37q6RU1idE/htmlview?sle=true

The ideal is to plan a trip and then figure out which cards work for you. Will United get you there or is it only American (or their partners)? Does Hyatt have hotels in your destination city? Does Southwest serve your local airport? Etc.


If you just want to get started, I'd start with the Chase Sapphire Preferred. The annual fee is waived the first year and it provides 50k points to transfer or use for travel. It's a $4k/3 months card.



*Last I checked, the Chase Hyatt and Chase IHG are exempt from this rule. Get them after you've reached 5/24.

Any chance you have a referral code to it so I can help you out for your teaching?

Murse

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Re: Best Credit card rewards?
« Reply #5 on: May 31, 2017, 10:54:17 AM »
also, could you explain to when the annual fee will be charged since the first year is waived?

nouveauRiche

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Re: Best Credit card rewards?
« Reply #6 on: May 31, 2017, 11:02:22 AM »
If it's waived the first year, they will charge the fee around the 1 year mark.  If you want to avoid the fee, you could cancel the card after 9-10 months.

Murse

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Re: Best Credit card rewards?
« Reply #7 on: May 31, 2017, 11:06:02 AM »
If it's waived the first year, they will charge the fee around the 1 year mark.  If you want to avoid the fee, you could cancel the card after 9-10 months.

If that's true at what point can you get the same card a second time and get the sign up bonus?

nouveauRiche

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Re: Best Credit card rewards?
« Reply #8 on: May 31, 2017, 11:09:37 AM »
Check the fine print for the card you want to get.

A quick look at the Chase Sapphire Preferred:

This product is available to you if you do not have this card and have not received a new cardmember bonus for this card in the past 24 months.


https://creditcards.chase.com/credit-cards/chase-sapphire-preferred


bacchi

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Re: Best Credit card rewards?
« Reply #9 on: May 31, 2017, 11:18:31 AM »
That's also a "bonus-posted" to "applied" period. For example, if your bonus posts on 6/15/17, you could apply for the CSP again on 6/16/19 IF you don't currently have the card and don't exceed the 5/24 rule.

MilesMD, a (former?) poster, has a free course, http://www.travelmiles101.com/, that could be useful.

katsiki

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Re: Best Credit card rewards?
« Reply #10 on: May 31, 2017, 11:36:10 AM »
Check the fine print for the card you want to get.

A quick look at the Chase Sapphire Preferred:

This product is available to you if you do not have this card and have not received a new cardmember bonus for this card in the past 24 months.


https://creditcards.chase.com/credit-cards/chase-sapphire-preferred

If you do the CSP, add your future spouse as an authorized user.  That will get you 5000 points.

ditkanate

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Re: Best Credit card rewards?
« Reply #11 on: May 31, 2017, 12:30:18 PM »
If it's waived the first year, they will charge the fee around the 1 year mark.  If you want to avoid the fee, you could cancel the card after 9-10 months.

If that's true at what point can you get the same card a second time and get the sign up bonus?

I think it is 2 years later.  I'm pretty sure Chase lets you cancel or downgrade the card within 30 days of the fee hitting and they will refund it. Don't think you have to cancel the card proactively. 

I actually just had a deal where I "referred" my wife to the Chase Freedom card.  She got the signup bonus and I got the referral rewards.  With 2 of you doing this stuff you can really pick up a lot of points if you're smart about it.