What's Your Credit Card Rewards Strategy?

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THY4373
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Re: What's Your Credit Card Rewards Strategy?

Post by THY4373 »

pizzy wrote: Thu May 25, 2023 12:18 pm
Jags4186 wrote: Thu May 25, 2023 12:11 pm So if you book with Avianca you would get a redemption value of 2.9cpp and if you were to book with United miles you'd get a value of 2.4cpp.
I'm sure you know this but for others....

This why I hate cpp. You may be getting a better return on spend booking on United Miles (transferred from Chase) than Avianca (transferred from MR).
I agree with you on this but at least for the numbers I am posting here there is only so much math I can put in one post. I consider the cost of generating points in my analysis, also the ease of accumulating points and transfer bonuses as well (for example the AA bookings for my son don't include the 40% bonus to BA from Amex MR I used to get the Avios though that would actually increase my value per MR point considerably). None of that was included in my math above but it is included in my analysis when deciding how to book something.
jdubsdubs
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Re: What's Your Credit Card Rewards Strategy?

Post by jdubsdubs »

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spammagnet
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Re: What's Your Credit Card Rewards Strategy?

Post by spammagnet »

Leguna Seca wrote: Fri May 26, 2023 3:09 am... I can’t help but think a lot of cards force situations where the rewards tail is wagging the spend dog. ...
Of course that's what the bank wants. As with credit cards in general, many people will claim that credit cards don't affect their spending decisions but research disproves that at the population level.

Personally, I won't claim that credit cards have no influence on my spending behavior but MSRs generally affect when I buy something, not whether I'll buy it. We have two new cards arriving today. l've postponed some planned spending for things we need and that are in our budget (new eyeglasses, a new GPS, June 1040-ES tax payments) until those cards arrive. I'll cover all of the MSR on one card and 1/2 of the MSR on the other today, after which our routine budgeted spending (groceries, gas, monthly bills) will complete the MSR within 6 weeks.
CletusCaddy
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Re: What's Your Credit Card Rewards Strategy?

Post by CletusCaddy »

I agree with the sentiment that if you wouldn’t spend the cash for a premium class airline ticket, then you can’t count the cash price as your point value. Also the availability is terrible.

But for me there is an accessible alternative- high end hotels. I’m loathe to shell out $5k for a business class plane seat for 10+ hours across an ocean, but I would and have paid $1k per night for a hotel room for my family of 4. And so it’s pretty justifiable for me to value Bonvoy points redeemed at Ritz Carltons at 1.5 cents per point or HHonors points redeemed at Waldorf Astorias at 1 cent per point. I skip Hyatt because in my experience they have the most blackout dates for point redemptions of the major chains.

So my card line up looks like this:

Restaurants- Amex gold 6-8% redeemed at high end hotels
Grocery- Amex gold 6-8% redeemed at high end hotels
Amazon- Chase Amazon card 5% cash back
Costco- Costco gift card purchased with BoA CCR 5.25% cash back
Gas- Citi Shop Your Way card 5% cash back
Online shopping- BoA CCR 5.25% cash back
Target- Target RedCard 5% cash back
Travel - BoA CCR 5.25% cash back
Everything else- Amex blue business plus 3-4% redeemed at high end hotels

I spend ~$120k per year on cards and average 5% back on all of it. And only Amex gold has an annual fee netting out to $10 after the Uber & Grubhub cash back.
THY4373
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Re: What's Your Credit Card Rewards Strategy?

Post by THY4373 »

CletusCaddy wrote: Fri May 26, 2023 10:41 am I agree with the sentiment that if you wouldn’t spend the cash for a premium class airline ticket, then you can’t count the cash price as your point value. Also the availability is terrible.

But for me there is an accessible alternative- high end hotels. I’m loathe to shell out $5k for a business class plane seat for 10+ hours across an ocean, but I would and have paid $1k per night for a hotel room for my family of 4. And so it’s pretty justifiable for me to value Bonvoy points redeemed at Ritz Carltons at 1.5 cents per point or HHonors points redeemed at Waldorf Astorias at 1 cent per point. I skip Hyatt because in my experience they have the most blackout dates for point redemptions of the major chains.
Availability may or may not be an issue it really depends on your circumstances. It depends on how flexible you are, how far in advance and/or how close in you are booking and how many seats are you are looking for. In ten years I have pretty much always found a way to get to where I want on points in premium cabins if that is what I want.

The hotel vs airline vs cashback is going to be a very personal decision as you point out. For me I am the reverse of you. Getting a comfortable seat on a plane for up to 15+ hours (for some of my flights) that allows me to sit alone (I travel solo most of the time) and sleep is more important to me than a hotel. For me with a few exceptions my hotel (or vacation rental) is where I sleep and once you get beyond a certain basic point of a good place to sleep in a good location I don't really care. Also I seem to vacation in lots of places that just don't have high end hotels (e.g. hiking Hadrian's wall across the UK this September). That said I do appreciate my points when I go to a place like Bora Bora and the hotel is in large part the destination.
CletusCaddy
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Re: What's Your Credit Card Rewards Strategy?

Post by CletusCaddy »

THY4373 wrote: Fri May 26, 2023 11:00 am
CletusCaddy wrote: Fri May 26, 2023 10:41 am I agree with the sentiment that if you wouldn’t spend the cash for a premium class airline ticket, then you can’t count the cash price as your point value. Also the availability is terrible.

But for me there is an accessible alternative- high end hotels. I’m loathe to shell out $5k for a business class plane seat for 10+ hours across an ocean, but I would and have paid $1k per night for a hotel room for my family of 4. And so it’s pretty justifiable for me to value Bonvoy points redeemed at Ritz Carltons at 1.5 cents per point or HHonors points redeemed at Waldorf Astorias at 1 cent per point. I skip Hyatt because in my experience they have the most blackout dates for point redemptions of the major chains.
Availability may or may not be an issue it really depends on your circumstances. It depends on how flexible you are, how far in advance and/or how close in you are booking and how many seats are you are looking for. In ten years I have pretty much always found a way to get to where I want on points in premium cabins if that is what I want.

The hotel vs airline vs cashback is going to be a very personal decision as you point out. For me I am the reverse of you. Getting a comfortable seat on a plane for up to 15+ hours (for some of my flights) that allows me to sit alone (I travel solo most of the time) and sleep is more important to me than a hotel. For me with a few exceptions my hotel (or vacation rental) is where I sleep and once you get beyond a certain basic point of a good place to sleep in a good location I don't really care. Also I seem to vacation in lots of places that just don't have high end hotels (e.g. hiking Hadrian's wall across the UK this September). That said I do appreciate my points when I go to a place like Bora Bora and the hotel is in large part the destination.
Four business class award seats for my family of four including 2 toddlers is impossible and probably even undesirable.

On the other hand going to a resort without a good kiddie pool? Woe is me!
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Re: What's Your Credit Card Rewards Strategy?

Post by Mudpuppy »

EnjoyIt wrote: Tue May 23, 2023 11:58 pm Get the CSR and then use the points to pay yourself back for grocery and gas station purchases at 1.25 cents per point. It’s not the best redemption, but it’s probably better than the points just sitting there.
According to The Points Guy, those Pay Yourself Back (PYB) redemption categories for the CSR and CSP are going away on June 30th, along with the PYB option to pay the annual fee on CSR, so there wouldn't be much time to utilize that feature. The Points Guy says that the "select charities" category is supposed to remain on CSR and CSP until December 31st (but only until June 30th for the Freedom cards). I wish that category covered local charities, but there are some decent national/international charities on the list to consider.

The Chase UR portal also currently has some 10-15% discounts on gift cards, which also isn't great, but it's another way to turn over the points since I don't plan to travel soon.
Morik
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Re: What's Your Credit Card Rewards Strategy?

Post by Morik »

CletusCaddy wrote: Fri May 26, 2023 10:41 am
Travel - BoA CCR 5.25% cash back
How do you deal with the quarterly spend cap? I considered a CCR for travel, but ended up on the Bofa premium travel rewards card because when we travel the total cost is often higher than the spend cap on the CCR. I guess if you are using amex gold points for your hotel/resort/whatever, and just paying for flights, that that usually comes in under the spend cap?
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anon_investor
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Re: What's Your Credit Card Rewards Strategy?

Post by anon_investor »

Morik wrote: Sat May 27, 2023 11:28 am
CletusCaddy wrote: Fri May 26, 2023 10:41 am
Travel - BoA CCR 5.25% cash back
How do you deal with the quarterly spend cap? I considered a CCR for travel, but ended up on the Bofa premium travel rewards card because when we travel the total cost is often higher than the spend cap on the CCR. I guess if you are using amex gold points for your hotel/resort/whatever, and just paying for flights, that that usually comes in under the spend cap?
I have 3 versions of the BoA CCR. Might not work for long international travel and/or large parties, but for shorter domestic trips you could put plane tix on one, hotel and car rental on the others.
Lastrun
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Re: What's Your Credit Card Rewards Strategy?

Post by Lastrun »

Morik wrote: Sat May 27, 2023 11:28 am
CletusCaddy wrote: Fri May 26, 2023 10:41 am
Travel - BoA CCR 5.25% cash back
How do you deal with the quarterly spend cap? I considered a CCR for travel, but ended up on the Bofa premium travel rewards card because when we travel the total cost is often higher than the spend cap on the CCR. I guess if you are using amex gold points for your hotel/resort/whatever, and just paying for flights, that that usually comes in under the spend cap?
When you are in the 3.5% versus 5.25% range in the BofA the max per card in travel and dining is $175 per year (which for a lot of folks is where they will spend more than $10K) and likely less for the reward percentages for the lower categories compared to spend amounts at 2.625% I won't argue with folks who have multiple cards, but for me it just was not worth it and I cancelled my CCR card and have not regretted it. I am getting older and simpler is better. Also, at a large dinner my DW looked at me when she had to use 2 cards because we were maxing out on the $10K annual limit. Her look helped me decide.

I like cards that I don't have to worry about limits etc. So the base 2.625 and 3.5% on dining and travel, along with my amazon Prime at 5% for online shopping in my sock drawer is my strategy.
CletusCaddy
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Re: What's Your Credit Card Rewards Strategy?

Post by CletusCaddy »

Morik wrote: Sat May 27, 2023 11:28 am
CletusCaddy wrote: Fri May 26, 2023 10:41 am
Travel - BoA CCR 5.25% cash back
How do you deal with the quarterly spend cap? I considered a CCR for travel, but ended up on the Bofa premium travel rewards card because when we travel the total cost is often higher than the spend cap on the CCR. I guess if you are using amex gold points for your hotel/resort/whatever, and just paying for flights, that that usually comes in under the spend cap?
I should have specified. Amex gold earns 3 MR points per dollar on flights, which I value at 5 cents. Hotels are usually covered by points. $10k per year easily covers the rest of my travel.
leland
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Re: What's Your Credit Card Rewards Strategy?

Post by leland »

CletusCaddy wrote: Fri May 26, 2023 10:41 am Restaurants- Amex gold 6-8% redeemed at high end hotels
Grocery- Amex gold 6-8% redeemed at high end hotels
Are you transferring MR to Marriott / Hilton for that or alternative path? Personally haven't seen MR --> hotel as best value aside from topping off when short a few points here or there (finally just got Hilton zeroed out, working on Marriott next).
CletusCaddy
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Re: What's Your Credit Card Rewards Strategy?

Post by CletusCaddy »

leland wrote: Sat May 27, 2023 3:54 pm
CletusCaddy wrote: Fri May 26, 2023 10:41 am Restaurants- Amex gold 6-8% redeemed at high end hotels
Grocery- Amex gold 6-8% redeemed at high end hotels
Are you transferring MR to Marriott / Hilton for that
Yes
THY4373
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Re: What's Your Credit Card Rewards Strategy?

Post by THY4373 »

CletusCaddy wrote: Fri May 26, 2023 11:05 am
Four business class award seats for my family of four including 2 toddlers is impossible and probably even undesirable.

On the other hand going to a resort without a good kiddie pool? Woe is me!
Yeah four J seats on one flight is a tough call these days. It would definitely require some luck, flexiblity, and planning to pull that off.
an_asker
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Re: What's Your Credit Card Rewards Strategy?

Post by an_asker »

WapelloHawk wrote: Sun Feb 26, 2023 1:38 pm [...]
The BOA CCR card has international transaction fees, if you travel much internationally.

Cap One Venture X offers free Priority Pass for cardholder and two guests at their airport lounges. If you fly much, this is a terrific benefit. Free drinks, food, snacks. Love it. Also, it is a Visa Infinite card with many extra benefits. The card has a $395 annual fee, which truly becomes zero because they give you $100 in points annually and also reimburse the first $300 of travel you book through Cap One. In my experience, the airline prices are the same whether you book direct or through Cap One (Venture X gives 5% cash back for airline tickets). Priority Pass is just a valuable and free extra benefit.

We also have BOA Premium and CCR cards at Platinum Honors level. But we book airline tickets with Cap One so we can keep the card and its many benefits. I view the annual fee as $0, so the benefits are all upside.
Maybe you are one of the best folks who can help me understand the "free Priority Pass" - what exactly is a Priority Pass? I get one from Penfed Pathfinders Card but that appears to be worth nothing as you will be billed $32 for each person who goes to a lounge. So don't understand why it is even called a Priority Pass.
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ResearchMed
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Re: What's Your Credit Card Rewards Strategy?

Post by ResearchMed »

an_asker wrote: Mon May 29, 2023 2:04 pm Maybe you are one of the best folks who can help me understand the "free Priority Pass" - what exactly is a Priority Pass? I get one from Penfed Pathfinders Card but that appears to be worth nothing as you will be billed $32 for each person who goes to a lounge. So don't understand why it is even called a Priority Pass.

We get Priority Pass through Amex Platinum, so the terms may be different, but here they are:

https://www.americanexpress.com/icc/car ... -pass.html

That includes this: "..Priority Pass is an independent airport lounge access program. At any visit to a Priority Pass lounge, you may bring in one guest at no charge. You will be charged the prevailing retail rate for any additional guests..."

So it's a great place (usually) to get at least some type of food/beverage refreshments. The facilities vary a lot from location to location, in terms of seating/etc., or food/beverage choices.
But it's a relatively quiet and comfortable place to "wait", and at least nibble or get something to drink.

We've never been "shut out", but I've read of some capacity control issues...

And if you have someone with a Supplemental Amex Plat card, then you'd get two guests (or family) in with you.
To check for locations:
https://global.americanexpress.com/loun ... cale=en-XB
Sometimes an airline's lounge is used (Air France in this case):
https://global.americanexpress.com/loun ... cale=en-XB

RM
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Lyrrad
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Re: What's Your Credit Card Rewards Strategy?

Post by Lyrrad »

an_asker wrote: Mon May 29, 2023 2:04 pm Maybe you are one of the best folks who can help me understand the "free Priority Pass" - what exactly is a Priority Pass? I get one from Penfed Pathfinders Card but that appears to be worth nothing as you will be billed $32 for each person who goes to a lounge. So don't understand why it is even called a Priority Pass.
It’s a program run by a third party program that lets you access various experiences like lounges, restaurants, and amenities. There are experiences owned by Priority Pass and ones owned by third parties. I believe each experience accepts the membership and receives a set compensation from Priority Pass. Credit card companies often include Priority Pass with some credit cards. Some card companies may include a set number or unlimited number of experiences for the cardholder. Some don’t include any guests, some a set number, and some unlimited. Some exclude some types of experiences like restaurants.
an_asker
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Re: What's Your Credit Card Rewards Strategy?

Post by an_asker »

Here is what my Priority Pass paperwork says:

"Your Priority Pass membership is provided to you as a complimentary benefit of the PenFed Pathfinder Rewards Visa Signature card and provides you access to all participating lounges in the program. After a visit to a participating lounge by you ad any accompanying guest(s), a lounge visit fee, currently $32 per person, per visit will be automatically billed to your PenFed Pathfinder Rewards Visa Signature card."

My point is that if I have to pay $32 per visit per person (including myself :oops: ) even with the Pass, the what is the Pass doing for me? Can a person without the Pass not even get into the lounge after paying $32 per visit?

Related question: when does one actually take advantage of this lounge privilege? Before boarding a two hour intra-country flight, is it even of any use? Or do folks use it to primarily take advantage of it on international flights at intermediate transfer airports?
an_asker
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Re: What's Your Credit Card Rewards Strategy?

Post by an_asker »

ResearchMed wrote: Mon May 29, 2023 2:17 pm [...]
And if you have someone with a Supplemental Amex Plat card, then you'd get two guests (or family) in with you.
To check for locations:
https://global.americanexpress.com/loun ... cale=en-XB
Sometimes an airline's lounge is used (Air France in this case):
https://global.americanexpress.com/loun ... cale=en-XB

RM
Thanks for the response.

After clicking on your link, it looks like even with the Amex Plat card, the two guests are only for a specific lounge chain/product. Others either do not permit additional guests or charge for them.
safari
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Re: What's Your Credit Card Rewards Strategy?

Post by safari »

an_asker wrote: Mon May 29, 2023 2:35 pm Here is what my Priority Pass paperwork says:

"Your Priority Pass membership is provided to you as a complimentary benefit of the PenFed Pathfinder Rewards Visa Signature card and provides you access to all participating lounges in the program. After a visit to a participating lounge by you ad any accompanying guest(s), a lounge visit fee, currently $32 per person, per visit will be automatically billed to your PenFed Pathfinder Rewards Visa Signature card."

My point is that if I have to pay $32 per visit per person (including myself :oops: ) even with the Pass, the what is the Pass doing for me? Can a person without the Pass not even get into the lounge after paying $32 per visit?

Related question: when does one actually take advantage of this lounge privilege? Before boarding a two hour intra-country flight, is it even of any use? Or do folks use it to primarily take advantage of it on international flights at intermediate transfer airports?
There are different levels of Priority Pass. If you were to join the program directly, you'd have to pay an annual membership fee, which the credit card covers for you. At the lowest level, you have to pay for each visit, which is what you have. I get Priority Pass through two of my credit cards: U.S. Bank Altitude Reserve Visa and AmEx Platinum. Both include complementary visits for me and one guest, while the U.S. Bank card caps the free visits at 4 per year.
Lastrun
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Re: What's Your Credit Card Rewards Strategy?

Post by Lastrun »

I am not sure about these other cards with limits, but I have two Priority Passes, one with Amex Platinum and one with Chase Sapphire Reserve (CSR).

The CSR is better than the Amex, as the CSR includes restaurants. We use this a lot at Washington Reagan Airport that does not have a PP lounge proper.

I, nor any family member, have been turned away from a Priority Pass lounge or affiliated restaurant, and I cannot say the same thing about the Amex Centurion. Also, each authorized user gets 2 guests free for each visit.

Bottom line is free food and drinks (food is usually OK but not great) (waters for the flight), better bathrooms, wait service, and hopefully a quiet seat.

From Chase.
How many times can I use Priority Pass with Chase Sapphire Reserve?
Your Priority Pass Select membership does not limit the number of times you can access a lounge. A membership with Sapphire Reserve also allows you a maximum of 2 guests, and your authorized user is allowed 2 guests. Your credit card is charged $27 for each additional guest after the visit is reported to Priority Pass. A lounge may deny entry if it reaches capacity.

What does Priority Pass membership include?
Membership provides access to the global Priority Pass network of airport lounges, markets, restaurants and cafes. Access doesn't depend on the airline or class of seat you're flying.

Lounges are not the only benefit of membership in this exclusive program. With the Priority Pass app, members can also find discounts at restaurants and retailers in many airports around the world.
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Re: What's Your Credit Card Rewards Strategy?

Post by pizzy »

The trick to a home airport lounge access is to stop getting to the airport so darn early.

Clear, Precheck, etc. and show up an hour before your flight.

Unavoidable layovers is a different story.

But I’ve learned from here and other forums and through frequent travels that people just can’t help but get to the airport way too early.
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EnjoyIt
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Re: What's Your Credit Card Rewards Strategy?

Post by EnjoyIt »

pizzy wrote: Mon May 29, 2023 3:58 pm The trick to a home airport lounge access is to stop getting to the airport so darn early.

Clear, Precheck, etc. and show up an hour before your flight.

Unavoidable layovers is a different story.

But I’ve learned from here and other forums and through frequent travels that people just can’t help but get to the airport way too early.
I fly once or twice a month. I find that the best thing that can happen is that I arrive to the gate right as they are almost done boarding that way I don’t have to stand on line.

I have priority pass access but find myself using it less and less often unless we are delayed or there is a long layover. Whatever they have to offer is better at home or at a restaurant outside of the airport.
A time to EVALUATE your jitters: | viewtopic.php?p=1139732#p1139732
an_asker
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Re: What's Your Credit Card Rewards Strategy?

Post by an_asker »

safari wrote: Mon May 29, 2023 2:50 pm [...]
There are different levels of Priority Pass. If you were to join the program directly, you'd have to pay an annual membership fee, which the credit card covers for you. At the lowest level, you have to pay for each visit, which is what you have. I get Priority Pass through two of my credit cards: U.S. Bank Altitude Reserve Visa and AmEx Platinum. Both include complementary visits for me and one guest, while the U.S. Bank card caps the free visits at 4 per year.
Thanks! This is the answer I was expecting/needing. I don't understand what the program does with the membership fee but I realize now that it is useless for me - unless accompanied by complimentary entry.
an_asker
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Re: What's Your Credit Card Rewards Strategy?

Post by an_asker »

EnjoyIt wrote: Mon May 29, 2023 4:28 pm
pizzy wrote: Mon May 29, 2023 3:58 pm The trick to a home airport lounge access is to stop getting to the airport so darn early.

Clear, Precheck, etc. and show up an hour before your flight.

Unavoidable layovers is a different story.

But I’ve learned from here and other forums and through frequent travels that people just can’t help but get to the airport way too early.
I fly once or twice a month. I find that the best thing that can happen is that I arrive to the gate right as they are almost done boarding that way I don’t have to stand on line.

I have priority pass access but find myself using it less and less often unless we are delayed or there is a long layover. Whatever they have to offer is better at home or at a restaurant outside of the airport.
Thanks for this spin. This makes sense as well. Looks like the lounge access is going to be less useful to those who already are using the other perks of the card, i.e., global entry, tsa clearance etc. - on the other hand, for folks who have anxiety of missing their flight such as me and land up way early at the airport, it might still be useful.
pizzy
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Re: What's Your Credit Card Rewards Strategy?

Post by pizzy »

an_asker wrote: Mon May 29, 2023 8:55 pm
EnjoyIt wrote: Mon May 29, 2023 4:28 pm
pizzy wrote: Mon May 29, 2023 3:58 pm The trick to a home airport lounge access is to stop getting to the airport so darn early.

Clear, Precheck, etc. and show up an hour before your flight.

Unavoidable layovers is a different story.

But I’ve learned from here and other forums and through frequent travels that people just can’t help but get to the airport way too early.
I fly once or twice a month. I find that the best thing that can happen is that I arrive to the gate right as they are almost done boarding that way I don’t have to stand on line.

I have priority pass access but find myself using it less and less often unless we are delayed or there is a long layover. Whatever they have to offer is better at home or at a restaurant outside of the airport.
Thanks for this spin. This makes sense as well. Looks like the lounge access is going to be less useful to those who already are using the other perks of the card, i.e., global entry, tsa clearance etc. - on the other hand, for folks who have anxiety of missing their flight such as me and land up way early at the airport, it might still be useful.
How many original flights have you missed because you were late? (Original meaning not a connection)
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Jags4186
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Re: What's Your Credit Card Rewards Strategy?

Post by Jags4186 »

Morik wrote: Thu May 25, 2023 4:49 pm Outside of churn which I may or may not do in the future, depends on how much patience my wife has with me for switching which card(s) to use, my current setup is:

Bofa platinum honors with:
Custom cash: 5.25% online purchases (includes doordash/grubhub/etc orders), 3.5% groceries and costco (combined limit of $2500/quarter, afterwards down to 1.75% on all purchases)

Premium travel rewards: 3.5% dining, 3.5% travel (includes parking/mass transit/etc), 2.62% everything else, no caps.
$95 annual fee. $100 in airline incidental credit tends to balance that out.

Chase Amazon rewards card: 5% on amazon, whole foods

I'm a year out from being able to get a 2nd custom cash card (I read you have to wait 2 years from the first one), and don't want to park another $100k at merrill to qualify wife with platinum honors so we can't get a 2nd one through her (well we could, but it would only be 3%/2%/1% instead of 5.25%/3.5%/1.75%).

I'm thinking of citi custom cash cards--one for groceries (bumps that to 5% from 3.5%, and leaves more room for the 5.25% category spending on the BofA custom cash since the groceries & chosen 5.25% category share a cap), one for dining (bump from 3.5% to 5%). I would get one and wife would get one.

And then when the time limit is up, get a 2nd bofa custom cash for dining and use the other citi custom cash for either gas or drugstores (or just ditch it--we only spend about $100 a month on each of those, and my wife would appreciate fewer cards).

So then we'd have:
5.25% online shopping/food delivery (up to $2500/quarter)
5.25% dining (up to $2500/quarter), 3.5% afterwards (no cap)
5% groceries (up to $500/month), 3.5% afterwards (via either of the bofa custom cash cards, shares cap with 5.25% categories)
5% amazon & whole foods
3.5% costco
3.5% travel
2.62% everything else

That would be on 5 total cards: Amazon card, bofa premium travel, two bofa custom cashback cards, and one citi custom cash card. Could use the 2nd citi custom cash as a swap out if we hit the cap... I'll have to see what my wife will tolerate.

We spend somewhere around 60-80k annually on cards.
Instead of a Custom Cash for groceries you should get the AAA Daily Advantage Visa which is 5% groceries up to $10k/yr.
mt2k
Posts: 124
Joined: Thu May 21, 2020 8:13 am

Re: What's Your Credit Card Rewards Strategy?

Post by mt2k »

Jags4186 wrote: Mon May 29, 2023 9:13 pm
Morik wrote: Thu May 25, 2023 4:49 pm Outside of churn which I may or may not do in the future, depends on how much patience my wife has with me for switching which card(s) to use, my current setup is:

Bofa platinum honors with:
Custom cash: 5.25% online purchases (includes doordash/grubhub/etc orders), 3.5% groceries and costco (combined limit of $2500/quarter, afterwards down to 1.75% on all purchases)

Premium travel rewards: 3.5% dining, 3.5% travel (includes parking/mass transit/etc), 2.62% everything else, no caps.
$95 annual fee. $100 in airline incidental credit tends to balance that out.

Chase Amazon rewards card: 5% on amazon, whole foods

I'm a year out from being able to get a 2nd custom cash card (I read you have to wait 2 years from the first one), and don't want to park another $100k at merrill to qualify wife with platinum honors so we can't get a 2nd one through her (well we could, but it would only be 3%/2%/1% instead of 5.25%/3.5%/1.75%).

I'm thinking of citi custom cash cards--one for groceries (bumps that to 5% from 3.5%, and leaves more room for the 5.25% category spending on the BofA custom cash since the groceries & chosen 5.25% category share a cap), one for dining (bump from 3.5% to 5%). I would get one and wife would get one.

And then when the time limit is up, get a 2nd bofa custom cash for dining and use the other citi custom cash for either gas or drugstores (or just ditch it--we only spend about $100 a month on each of those, and my wife would appreciate fewer cards).

So then we'd have:
5.25% online shopping/food delivery (up to $2500/quarter)
5.25% dining (up to $2500/quarter), 3.5% afterwards (no cap)
5% groceries (up to $500/month), 3.5% afterwards (via either of the bofa custom cash cards, shares cap with 5.25% categories)
5% amazon & whole foods
3.5% costco
3.5% travel
2.62% everything else

That would be on 5 total cards: Amazon card, bofa premium travel, two bofa custom cashback cards, and one citi custom cash card. Could use the 2nd citi custom cash as a swap out if we hit the cap... I'll have to see what my wife will tolerate.

We spend somewhere around 60-80k annually on cards.
Instead of a Custom Cash for groceries you should get the AAA Daily Advantage Visa which is 5% groceries up to $10k/yr.
AAA Daily Advantage Visa is region specific. My region AAA visa has 3% on Groceries, Gas and dining.
Jags4186
Posts: 8198
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Re: What's Your Credit Card Rewards Strategy?

Post by Jags4186 »

mt2k wrote: Wed May 31, 2023 4:28 pm AAA Daily Advantage Visa is region specific. My region AAA visa has 3% on Groceries, Gas and dining.
The card is not region locked and doesn’t require a AAA membership. You can simply go to the northeast website, for example, and apply regardless of where you live.
Lastrun
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Re: What's Your Credit Card Rewards Strategy?

Post by Lastrun »

But limited to $500 total cash back per year, and the 3% categories, if used, eat up that limit as well? So to use this effectively, this would be a "groceries only" Sharpie card--correct?
NYCaviator
Posts: 1966
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Location: NYC

Re: What's Your Credit Card Rewards Strategy?

Post by NYCaviator »

an_asker wrote: Mon May 29, 2023 2:35 pm Related question: when does one actually take advantage of this lounge privilege? Before boarding a two hour intra-country flight, is it even of any use? Or do folks use it to primarily take advantage of it on international flights at intermediate transfer airports?
Never anymore. IMO, lounge access is a worthless credit card benefit. Lounges, like almost everything else about air travel, have been ruined.

Many domestic lounges have lines out of the door. Crowds hover around the buffet waiting to snap up snacks before the staff can even put them down. And all civility and manners are checked at the door; people take their shoes off, put their feet all over the furniture, talk loudly on their phones, leave a mess all over the tables, etc. The last time I flew through Seattle there was (I kid you not) a 45 minute wait to get into the Centurion lounge. Who in their right mind is going to stand there for 45 minutes waiting to get in and hope to even find a seat???

I'd much rather eat at a decent airport restaurant or get food to go and sit at an empty gate. More comfortable. Quieter. And I know I can find a seat and a power outlet.
Jags4186
Posts: 8198
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Re: What's Your Credit Card Rewards Strategy?

Post by Jags4186 »

Lastrun wrote: Wed May 31, 2023 6:37 pm But limited to $500 total cash back per year, and the 3% categories, if used, eat up that limit as well? So to use this effectively, this would be a "groceries only" Sharpie card--correct?
I don’t consider 3% in any of the 3% categories to be competitive so I’d only use for groceries.
Pepper11
Posts: 195
Joined: Fri Jun 13, 2014 9:22 pm

Re: What's Your Credit Card Rewards Strategy?

Post by Pepper11 »

Jags4186 wrote: Mon May 29, 2023 9:13 pm
Morik wrote: Thu May 25, 2023 4:49 pm Outside of churn which I may or may not do in the future, depends on how much patience my wife has with me for switching which card(s) to use, my current setup is:

Bofa platinum honors with:
Custom cash: 5.25% online purchases (includes doordash/grubhub/etc orders), 3.5% groceries and costco (combined limit of $2500/quarter, afterwards down to 1.75% on all purchases)

Premium travel rewards: 3.5% dining, 3.5% travel (includes parking/mass transit/etc), 2.62% everything else, no caps.
$95 annual fee. $100 in airline incidental credit tends to balance that out.

Chase Amazon rewards card: 5% on amazon, whole foods

I'm a year out from being able to get a 2nd custom cash card (I read you have to wait 2 years from the first one), and don't want to park another $100k at merrill to qualify wife with platinum honors so we can't get a 2nd one through her (well we could, but it would only be 3%/2%/1% instead of 5.25%/3.5%/1.75%).

I'm thinking of citi custom cash cards--one for groceries (bumps that to 5% from 3.5%, and leaves more room for the 5.25% category spending on the BofA custom cash since the groceries & chosen 5.25% category share a cap), one for dining (bump from 3.5% to 5%). I would get one and wife would get one.

And then when the time limit is up, get a 2nd bofa custom cash for dining and use the other citi custom cash for either gas or drugstores (or just ditch it--we only spend about $100 a month on each of those, and my wife would appreciate fewer cards).

So then we'd have:
5.25% online shopping/food delivery (up to $2500/quarter)
5.25% dining (up to $2500/quarter), 3.5% afterwards (no cap)
5% groceries (up to $500/month), 3.5% afterwards (via either of the bofa custom cash cards, shares cap with 5.25% categories)
5% amazon & whole foods
3.5% costco
3.5% travel
2.62% everything else

That would be on 5 total cards: Amazon card, bofa premium travel, two bofa custom cashback cards, and one citi custom cash card. Could use the 2nd citi custom cash as a swap out if we hit the cap... I'll have to see what my wife will tolerate.

We spend somewhere around 60-80k annually on cards.
Instead of a Custom Cash for groceries you should get the AAA Daily Advantage Visa which is 5% groceries up to $10k/yr.
I have this card but it doesn't seem it allows automatic payments for the statement balance, so it really not worth the hassle for me.
User avatar
anon_investor
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Re: What's Your Credit Card Rewards Strategy?

Post by anon_investor »

Morik wrote: Thu May 25, 2023 4:49 pm I'm a year out from being able to get a 2nd custom cash card (I read you have to wait 2 years from the first one), and don't want to park another $100k at merrill to qualify wife with platinum honors so we can't get a 2nd one through her (well we could, but it would only be 3%/2%/1% instead of 5.25%/3.5%/1.75%).
You don't have to wait 2 years to get another BoA Customized Cash Rewards. BoA's rules are you cannot have applied for more than 2 BoA CCs within a 3 month period, 3 BoA CCs within a 12 month period or 4 BoA CCs within a 24 month period. It sounds like you have only 2 BoA CCs. You also can't have applied for more than 7 CCs from any company within the last 12 months (as an existing BoA account holder). There are many variants of the BoA Customized Casg Rewards, so if you get a different one than you currently have you probably don't need to wait long if at all.
Last edited by anon_investor on Wed May 31, 2023 9:49 pm, edited 1 time in total.
Jags4186
Posts: 8198
Joined: Wed Jun 18, 2014 7:12 pm

Re: What's Your Credit Card Rewards Strategy?

Post by Jags4186 »

Pepper11 wrote: Wed May 31, 2023 7:48 pm
Jags4186 wrote: Mon May 29, 2023 9:13 pm
Morik wrote: Thu May 25, 2023 4:49 pm Outside of churn which I may or may not do in the future, depends on how much patience my wife has with me for switching which card(s) to use, my current setup is:

Bofa platinum honors with:
Custom cash: 5.25% online purchases (includes doordash/grubhub/etc orders), 3.5% groceries and costco (combined limit of $2500/quarter, afterwards down to 1.75% on all purchases)

Premium travel rewards: 3.5% dining, 3.5% travel (includes parking/mass transit/etc), 2.62% everything else, no caps.
$95 annual fee. $100 in airline incidental credit tends to balance that out.

Chase Amazon rewards card: 5% on amazon, whole foods

I'm a year out from being able to get a 2nd custom cash card (I read you have to wait 2 years from the first one), and don't want to park another $100k at merrill to qualify wife with platinum honors so we can't get a 2nd one through her (well we could, but it would only be 3%/2%/1% instead of 5.25%/3.5%/1.75%).

I'm thinking of citi custom cash cards--one for groceries (bumps that to 5% from 3.5%, and leaves more room for the 5.25% category spending on the BofA custom cash since the groceries & chosen 5.25% category share a cap), one for dining (bump from 3.5% to 5%). I would get one and wife would get one.

And then when the time limit is up, get a 2nd bofa custom cash for dining and use the other citi custom cash for either gas or drugstores (or just ditch it--we only spend about $100 a month on each of those, and my wife would appreciate fewer cards).

So then we'd have:
5.25% online shopping/food delivery (up to $2500/quarter)
5.25% dining (up to $2500/quarter), 3.5% afterwards (no cap)
5% groceries (up to $500/month), 3.5% afterwards (via either of the bofa custom cash cards, shares cap with 5.25% categories)
5% amazon & whole foods
3.5% costco
3.5% travel
2.62% everything else

That would be on 5 total cards: Amazon card, bofa premium travel, two bofa custom cashback cards, and one citi custom cash card. Could use the 2nd citi custom cash as a swap out if we hit the cap... I'll have to see what my wife will tolerate.

We spend somewhere around 60-80k annually on cards.
Instead of a Custom Cash for groceries you should get the AAA Daily Advantage Visa which is 5% groceries up to $10k/yr.
I have this card but it doesn't seem it allows automatic payments for the statement balance, so it really not worth the hassle for me.
It allows automatic payments for me.
Morik
Posts: 1344
Joined: Tue Nov 25, 2014 11:26 am

Re: What's Your Credit Card Rewards Strategy?

Post by Morik »

anon_investor wrote: Wed May 31, 2023 7:57 pm
Morik wrote: Thu May 25, 2023 4:49 pm I'm a year out from being able to get a 2nd custom cash card (I read you have to wait 2 years from the first one), and don't want to park another $100k at merrill to qualify wife with platinum honors so we can't get a 2nd one through her (well we could, but it would only be 3%/2%/1% instead of 5.25%/3.5%/1.75%).
You don't have to wait 2 years to get another BoA Customized Cash Rewards. BoA's rules are you cannot have applied for more than 2 BoA CCs within a 3 month period, 3 BoA CCs within a 12 month period or 4 BoA CCs within a 24 month period. It sounds like you have only 2 BoA CCs. You also can't have applied for more than 7 CCs from any company within the last 12 months (as an existing BoA account holder). There are many variants of the BoA Customized Casg Rewards, so if you get a different one than you currently have you probably don't need to wait long if at all.
Oh nice--I only had to wait the 12 months then it looks like. I have 3 Bofa cards--also got the unlimited cash rewards for 15 months of 0% apr, and wasn't sure whether I'd keep the premium travel card. If I ever go to another travel card, I'd switch to the unlimited cash as it has no annual fee and the same 2.62% on everything (just without the 3.5% on travel & dining, and no $95 annual fee, but also no $100 airline incidental credit).
User avatar
anon_investor
Posts: 15122
Joined: Mon Jun 03, 2019 1:43 pm

Re: What's Your Credit Card Rewards Strategy?

Post by anon_investor »

Morik wrote: Wed May 31, 2023 11:36 pm
anon_investor wrote: Wed May 31, 2023 7:57 pm
Morik wrote: Thu May 25, 2023 4:49 pm I'm a year out from being able to get a 2nd custom cash card (I read you have to wait 2 years from the first one), and don't want to park another $100k at merrill to qualify wife with platinum honors so we can't get a 2nd one through her (well we could, but it would only be 3%/2%/1% instead of 5.25%/3.5%/1.75%).
You don't have to wait 2 years to get another BoA Customized Cash Rewards. BoA's rules are you cannot have applied for more than 2 BoA CCs within a 3 month period, 3 BoA CCs within a 12 month period or 4 BoA CCs within a 24 month period. It sounds like you have only 2 BoA CCs. You also can't have applied for more than 7 CCs from any company within the last 12 months (as an existing BoA account holder). There are many variants of the BoA Customized Casg Rewards, so if you get a different one than you currently have you probably don't need to wait long if at all.
Oh nice--I only had to wait the 12 months then it looks like. I have 3 Bofa cards--also got the unlimited cash rewards for 15 months of 0% apr, and wasn't sure whether I'd keep the premium travel card. If I ever go to another travel card, I'd switch to the unlimited cash as it has no annual fee and the same 2.62% on everything (just without the 3.5% on travel & dining, and no $95 annual fee, but also no $100 airline incidental credit).
Yeah, I have 4 BoA CCs, applied for the first 2 at the same time (PR+CCR original red one), then waited 3 months and got my 3rd (2nd CCR Susan G Komen Race for the Cure), then waited 12 months and got my 4th (3rd CCR National Trust for Historic Preservation). So within a 15th month period I got 4 BoA CCs, also picked up a US Bank Cash+ during that time.

I also was able to move around the BoA credit lines later, since the later CCRs got larger credit lines, shifted a lot of it to my PR, where I occational have large charges (e.g. tax payments).
N10sive
Posts: 746
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Re: What's Your Credit Card Rewards Strategy?

Post by N10sive »

What companies frown upon closing out cards?

I am thinking of closing my fidelity rewards, discover it, bofa custom cash, and southwest as I rarely use these now and would like to start my time to reapply for these again for bonuses.

I realize this may hurt my credit score some though which is one downside. Although none of these are my longest standing cards.
tj
Posts: 9366
Joined: Wed Dec 23, 2009 11:10 pm

Re: What's Your Credit Card Rewards Strategy?

Post by tj »

N10sive wrote: Thu Jun 01, 2023 11:38 am What companies frown upon closing out cards?

I am thinking of closing my fidelity rewards, discover it, bofa custom cash, and southwest as I rarely use these now and would like to start my time to reapply for these again for bonuses.

I realize this may hurt my credit score some though which is one downside. Although none of these are my longest standing cards.
The only bank I've had issues with is Citibank. Cancelled plenty of Chase cards, they still give me new cards with bonuses. Never saw a reason to close my Discover or BofA's as they don't have fees.
PatrickA5
Posts: 977
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Re: What's Your Credit Card Rewards Strategy?

Post by PatrickA5 »

N10sive wrote: Thu Jun 01, 2023 11:38 am What companies frown upon closing out cards?

I am thinking of closing my fidelity rewards, discover it, bofa custom cash, and southwest as I rarely use these now and would like to start my time to reapply for these again for bonuses.

I realize this may hurt my credit score some though which is one downside. Although none of these are my longest standing cards.
According to my spreadsheet, between DW and me, we've closed over a hundred credit cards over the last 15 years. It has little, if any, effect on our credit scores and haven't had any bank get mad over it. We're down to 4 open cards that we use often.
WapelloHawk
Posts: 265
Joined: Thu Apr 08, 2021 4:22 pm

Re: What's Your Credit Card Rewards Strategy?

Post by WapelloHawk »

an_asker wrote: Mon May 29, 2023 2:04 pm
WapelloHawk wrote: Sun Feb 26, 2023 1:38 pm [...]
The BOA CCR card has international transaction fees, if you travel much internationally.

Cap One Venture X offers free Priority Pass for cardholder and two guests at their airport lounges. If you fly much, this is a terrific benefit. Free drinks, food, snacks. Love it. Also, it is a Visa Infinite card with many extra benefits. The card has a $395 annual fee, which truly becomes zero because they give you $100 in points annually and also reimburse the first $300 of travel you book through Cap One. In my experience, the airline prices are the same whether you book direct or through Cap One (Venture X gives 5% cash back for airline tickets). Priority Pass is just a valuable and free extra benefit.

We also have BOA Premium and CCR cards at Platinum Honors level. But we book airline tickets with Cap One so we can keep the card and its many benefits. I view the annual fee as $0, so the benefits are all upside.
Maybe you are one of the best folks who can help me understand the "free Priority Pass" - what exactly is a Priority Pass? I get one from Penfed Pathfinders Card but that appears to be worth nothing as you will be billed $32 for each person who goes to a lounge. So don't understand why it is even called a Priority Pass.
Priority Pass has been terrific for us, mainly for layovers. Free food and drinks. No need to buy lunch at an airport if you have Priority Pass. Not all airports have a Priority Pass lounge in the US. You can download their app and check in advance of your flights. My wife always lets me know if it will be a good or bad layover - solely based on Priority Pass lounge access. Lol.
arsenal_fan
Posts: 119
Joined: Tue Nov 17, 2015 7:57 pm

Re: What's Your Credit Card Rewards Strategy?

Post by arsenal_fan »

Anyone not seeing the statement credit from Citi SYW for gas, groceries, restaurants for the month of May?
tom592007
Posts: 8
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Re: What's Your Credit Card Rewards Strategy?

Post by tom592007 »

arsenal_fan wrote: Fri Jun 02, 2023 9:31 pm Anyone not seeing the statement credit from Citi SYW for gas, groceries, restaurants for the month of May?
Citi SYW credits are not always posting on time but they eventually get posted the next months.

This is by far the best credit card on the market once you spend enough to receive their offers.
I have had 10% on gas/grocery/restaurants over the past 2 years.... Not even mentioning the additional bonuses (online, travel etc...) and the syw points that can now be converted to Amazon gift cards.

This card is the most underrated card on the market. Even bofa with platinum status can't compete.
oilrig
Posts: 437
Joined: Sun Jul 03, 2016 10:25 pm

Re: What's Your Credit Card Rewards Strategy?

Post by oilrig »

pizzy wrote: Mon May 29, 2023 3:58 pm The trick to a home airport lounge access is to stop getting to the airport so darn early.

Clear, Precheck, etc. and show up an hour before your flight.

Unavoidable layovers is a different story.

But I’ve learned from here and other forums and through frequent travels that people just can’t help but get to the airport way too early.
I disagree, I like to show up to the airport early so I can take full advantage of my lounge access lol. Sitting at the lounge 2 hours before my flight, having several free drinks and a meal is something I look forward to before the flight. If Im paying a hefty fee for AMEX Platinum, then I want to get my money's worth!
kojima
Posts: 267
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Re: What's Your Credit Card Rewards Strategy?

Post by kojima »

I heard US lounges that can be accessed with Priority Pass and even Centurion Lounges in some airports have an insane wait, some up to an hour.
arsenal_fan
Posts: 119
Joined: Tue Nov 17, 2015 7:57 pm

Re: What's Your Credit Card Rewards Strategy?

Post by arsenal_fan »

tom592007 wrote: Sat Jun 03, 2023 9:04 am
arsenal_fan wrote: Fri Jun 02, 2023 9:31 pm Anyone not seeing the statement credit from Citi SYW for gas, groceries, restaurants for the month of May?
Citi SYW credits are not always posting on time but they eventually get posted the next months.

This is by far the best credit card on the market once you spend enough to receive their offers.
I have had 10% on gas/grocery/restaurants over the past 2 years.... Not even mentioning the additional bonuses (online, travel etc...) and the syw points that can now be converted to Amazon gift cards.

This card is the most underrated card on the market. Even bofa with platinum status can't compete.
Thanks. Don't get me wrong, $80 is great cash back on $800 spend on gas, groceries, restaurants but I hit the $800 mark in like 12-15 days, and I don't really end up using the online/travel/home improvement offers given they each have like a $600 minimum spend to trigger the bonus. The offers are great if you have organic spend in those categories which I don't.
LaurenRose
Posts: 338
Joined: Fri Sep 23, 2022 12:33 pm

Re: What's Your Credit Card Rewards Strategy?

Post by LaurenRose »

I have a new Citi card which I'd like to meet the spend for in order to get the bonus. I just learned of a credit union I can join and they allow me to initially fund it with a credit card - up to the exact amount that I need to spend to get the bonus.

Sounded like a neat solution until I learned from Citi that their minimum cash advance limit is $750. I need to spend $4K.

Does anyone know if bank funding is considered a cash advance? I'd hate to get hit with a ton of fees. If PM is better, feel free, thanks

Lauren
MrJedi
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Re: What's Your Credit Card Rewards Strategy?

Post by MrJedi »

LaurenRose wrote: Wed Jun 07, 2023 12:38 pm I have a new Citi card which I'd like to meet the spend for in order to get the bonus. I just learned of a credit union I can join and they allow me to initially fund it with a credit card - up to the exact amount that I need to spend to get the bonus.

Sounded like a neat solution until I learned from Citi that their minimum cash advance limit is $750. I need to spend $4K.

Does anyone know if bank funding is considered a cash advance? I'd hate to get hit with a ton of fees. If PM is better, feel free, thanks

Lauren
Different combinations of cards and banks/CUs treat it differently. Some will do cash advance, some will go through as purchase. Definitely not a one size fits all answer.

https://www.doctorofcredit.com/ usually has some good data points and discussion about funding.

One way to reduce risk is to ask for your Cash Advance limit to be set to zero. That way it will simply reject the charge if attempted as cash advance. This isn't possible with all issuers but I believe Citi does allow this.

Note that cash advance also doesn't normally count as spending toward a sign up bonus.
d0gerz
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Re: What's Your Credit Card Rewards Strategy?

Post by d0gerz »

tom592007 wrote: Sat Jun 03, 2023 9:04 am This is by far the best credit card on the market once you spend enough to receive their offers.
Curious if there is a known threshold you have to hit before getting regular offers?
I've hard the card for a month or so. Spent enough for the signup bonus. Have gotten one offer for no interest for 18 months on a purchase of $549+. Not that interesting as I pay off balance in full every month.
peke9898
Posts: 187
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Re: What's Your Credit Card Rewards Strategy?

Post by peke9898 »

ChiKid24 wrote: Wed May 24, 2023 11:53 am Got an email today from Fidelity that their cash rewards card is now offering up to 5% cash back on select travel categories (hotel, airline tickets and cruises). On top of the 2% the card already pays, you get an extra 1% on purchases from $250-$999 in purchases and an extra 3% on $1,000-$2,000 in purchases from now through June 30, 2023. Email says I am automatically enrolled. First time I've see something like this from the Fidelity card. Good timing as we're looking to purchase some cruise tickets.
I did not receive this e-mail. Is it for only select few customers?
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