Best strategies to get most out credit cards, rewards, balance transfer offers.

[Guest]

On 6/8/2023 at 8:34 PM, Vegas_Millennial said:

This is good to know because I'll be in London in August.  I didn't know I could cash out unused funds from a transit card.  I always assumed I had to use it or lose it.

The simplest thing to do for the London Underground is just tap your credit card at each entry/exit. At the end of the day, you will get the lowest rate (either 1-day pass or per trip, depending on how many trips you took), assuming you always use the same credit card. 

[Guest]

Outside the US, American Express isn't as universally accepted, though all major hotel chains, common transport such as SNCF/RENFE/TrenItalia, and better stores and restaurants do. I wouldn't travel outside the US without a M/C or Visa, but use AMX when I can due to their outstanding customer service. And my AMX's get me free nights at hotels (last time at the St. Regis in Venice, Italy).

[+ FrankR]

11 minutes ago, arnemgreeves said:

if anything credit cards should be banned. let people save money. 

When you use credit cards correctly, it should not make a difference.

[+ FrankR]

6 minutes ago, arnemgreeves said:

most don't and can't. so best ban them or limit their use. they're not that necessary as it stands. 

You are, of course, welcome to that opinion. I prefer the freedom to make my own choices. Like choosing a credit card over a debit card to benefit from fraud loss limits and insurance coverage. 

[handiacefailure]

12 hours ago, arnemgreeves said:

if anything credit cards should be banned. let people save money. 

Nope, I make a lot off my credit cards   Just know how to use them correctly   I get things like lounge access and free primary rental car insurance coverage and protection on lurchases with my credit cards and can keep my diamond status on delta which saves me over $10000 in international upgrades using the certificates and has gotten me quite a few domestic upgrades for free.    Just have to be respnsible

[+ FrankR]

1 hour ago, arnemgreeves said:

The fact there is masses of person al shows many cannot handle them. 

By that definition we should remove all personal vehicles from the road. Especially in freaking NJ. Masses of people cannot handle them.
 

Credit cards are a valuable tool for those who use them correctly. If you cant use them correctly, avoid them.

Edited July 14, 2023 by FrankR

[CuriousByNature]

24 minutes ago, arnemgreeves said:

Vehicular accidents don't impede the economy to the same extent. Credit card and other personal debt does. Clearly many aren't able to use them correctly. 

I use credit cards frequently for the ease of use and not having to carry cash all the time, but I also pay my balance in full each month which has given me a good credit score.  That said, I did not apply for a credit card until I had a steady, full time job because I saw members of my own family get into significant credit card debt by only paying the minimum monthly payment each month.  For some of them the issue started at university.  I'm not sure if this is still the case or if this happens in the USA, but in Canada at that time, university students were able to obtain credit cards with a $500 limit even if they did not have a job.  It was almost like giving candy to a baby - many people I know went crazy with their spending and learned to think of credit cards as cash in the bank - which it obviously isn't.   And that same attitude existed once they finished school, found an entry level job, and then had their credit limit increased regularly.  It was a dangerous spiral for those without much self control or discipline.  I think credit cards serve an important purpose and should not be banned outright, but stricter guidelines would likely help a lot of people.  Unfortunately, in North America at least, credit card companies make huge profits that they will never give up - even though these profits often come from preying on people's inability or unwillingness to be financially responsible.  It's a sad situation in my opinion.

[TonyDown]

I've had the same no fee credit card a long, long time.

When I recently took advantage of their attractive banking CD rate the young hot latino gentleman setting up my CD reminded me my credit card is pretty old, that I ought to open a rewards card account.  

Fast forward 2+ months and I received an email offer to switch my same old card to a no fee rewards card, no credit check.

Should I? 

I already have a rewards card that I use for most spending so I don't  see a significant incentive for me to change the old card.

The old card is more of a backup used for very specific on-line spending.  

 

[handiacefailure]

27 minutes ago, TonyDown said:

I've had the same no fee credit card a long, long time.

When I recently took advantage of their attractive banking CD rate the young hot latino gentleman setting up my CD reminded me my credit card is pretty old, that I ought to open a rewards card account.  

Fast forward 2+ months and I received an email offer to switch my same old card to a no fee rewards card, no credit check.

Should I? 

I already have a rewards card that I use for most spending so I don't  see a significant incentive for me to change the old card.

The old card is more of a backup used for very specific on-line spending.  

 

Aren't out anything switching it.   Just make sure they upgrade the card and keep the number the same so your credit doesn't take a ding for having a new card and that card still shows up as your original open date since part of your credit score is based on how long you've had a card and your longest open card is reported.   

[mike carey]

Moderator's Note:

Gentlemen, this is an interesting thread that has generated useful content, so please keep to the topic of how best to take advantage of CC rewards. Agree or not with what others post, but do not criticise them for what they say. A reminder, the premise of the thread is that CCs are a thing and people use them, so questioning their existence is outside the scope of the thread.

[Guest]

On 7/15/2023 at 7:43 PM, TonyDown said:

I've had the same no fee credit card a long, long time.

When I recently took advantage of their attractive banking CD rate the young hot latino gentleman setting up my CD reminded me my credit card is pretty old, that I ought to open a rewards card account.  

Fast forward 2+ months and I received an email offer to switch my same old card to a no fee rewards card, no credit check.

Should I? 

I already have a rewards card that I use for most spending so I don't  see a significant incentive for me to change the old card.

The old card is more of a backup used for very specific on-line spending.  

 

If there's no credit check, there should be no decrease in your FICO/credit score. One should never have a card which doesn't offer rewards. 

[MikePDNA51]

I get credit cards, always pay off at end of the month. Airline travel cards, need to spend a certain amount of money in 3 months. Usually get a new airline credit card right before Halloween, then do typical holiday shopping, pay off at end of week, and get full reward points from the airline. I’m going to try KLM Air France card this season. 

[handiacefailure]

4 hours ago, MikePDNA51 said:

I get credit cards, always pay off at end of the month. Airline travel cards, need to spend a certain amount of money in 3 months. Usually get a new airline credit card right before Halloween, then do typical holiday shopping, pay off at end of week, and get full reward points from the airline. I’m going to try KLM Air France card this season. 

I was thinking of getting the AF/KLM card for the good sign up offer (weird they hae a combined card).   Delta diamond but a lot of times Delta flights are a better deal booking on a code share with Airfrance miles 

[mike carey]

58 minutes ago, handiacefailure said:

I was thinking of getting the AF/KLM card for the good sign up offer (weird they hae a combined card).   Delta diamond but a lot of times Delta flights are a better deal booking on a code share with Airfrance miles 

Not really, they are both part of the same company and have a combined frequent flyer program (Flying Blue), and it's that program not the airlines that co-issues the credit card.

[handiacefailure]

16 hours ago, mike carey said:

Not really, they are both part of the same company and have a combined frequent flyer program (Flying Blue), and it's that program not the airlines that co-issues the credit card.

Different companies but part of the same alliance, same one as Delta.   Surprised they have a cobranded credit card though since Delta is in bed with AmEx and Air France has an alliance with Chase.    I like using Chase points on Airfrance.   

[mike carey]

https://www.airfranceklm.com/en

[harlow]

Wow this is a n awesome thread…I just got into the credit card rewards game a few months ago even though I’ve had credit cards for years.  I’d be curious to know if anyone has applied for Amex cards even though they’re in pop up jail. I’m an avid traveler and I qualify for the Platinum card but I’m currently in pop up jail. Anyone else just say screw it and got the card without the sign up bonus?  

[mike carey]

@harlow, the term 'pop up jail' was new to me, but google was my friend (and confirmed my guess). Huge caveat, I have Amex cards in Australia and here the rules seem to be no sign-up bonuses if you've ever had an Amex card (the laws on what card companies can charge merchants, and therefore have available to distribute as rewards points, are far more restrictive here than in the US), and their card range here is different to yours, and the Platinum card benefits are different. I was 'pre-approved' for one about five years ago and wasn't then alert to the concept of sign-up bonuses. I weighed what I got for the eye-watering fee and decided to go ahead.

What you do depends on your initial motivation for applying. Is it the regular features or the bonus. If it's more the bonus you could apply for a card that you're not in jail for (my reading is that it's assessed separately for each card or card type in the US) and wait for your Platinum jail to time out (assuming it does). If you like what the card delivers, and you can use the benefits, go for it, but don't count things you wouldn't use, or already have from another card as a 'benefit' (or ruthlessly ditch the other card). You can only use one hotel or rental car status upgrade for the same company, but you can use as many travel credits or free hotel night that cards throw at you. (It can change, I was never going to sign up to Amazon Prime, but ICC cricket tournaments are now only shown on their streaming service and I had two years of Amex statement credits for Prime, so I'm watching free, at least until the end of next year.)

So, I would say if you like what you see, say 'screw it' and sign up. Read up on the comparison sites (including the frequent flyer blogs) to see which cards offer what, by all means. All I've read says that the US Amex Platinum is a worthwhile card if it meets your requirements and the benefits match the cost. Its travel-related benefits in the US seem from afar to be pretty positive.

I saw this article, among others, when I searched jail.

AmEx ‘Once in a Lifetime’ Rule: How It Works - NerdWallet

WWW.NERDWALLET.COM

---

American Express restricts each card welcome bonus to one per person, per lifetime, but there are a few workarounds to...

 

[harlow]

30 minutes ago, mike carey said:

@harlow, the term 'pop up jail' was new to me, but google was my friend (and confirmed my guess). Huge caveat, I have Amex cards in Australia and here the rules seem to be no sign-up bonuses if you've ever had an Amex card (the laws on what card companies can charge merchants, and therefore have available to distribute as rewards points, are far more restrictive here than in the US), and their card range here is different to yours, and the Platinum card benefits are different. I was 'pre-approved' for one about five years ago and wasn't then alert to the concept of sign-up bonuses. I weighed what I got for the eye-watering fee and decided to go ahead.

What you do depends on your initial motivation for applying. Is it the regular features or the bonus. If it's more the bonus you could apply for a card that you're not in jail for (my reading is that it's assessed separately for each card or card type in the US) and wait for your Platinum jail to time out (assuming it does). If you like what the card delivers, and you can use the benefits, go for it, but don't count things you wouldn't use, or already have from another card as a 'benefit' (or ruthlessly ditch the other card). You can only use one hotel or rental car status upgrade for the same company, but you can use as many travel credits or free hotel night that cards throw at you. (It can change, I was never going to sign up to Amazon Prime, but ICC cricket tournaments are now only shown on their streaming service and I had two years of Amex statement credits for Prime, so I'm watching free, at least until the end of next year.)

So, I would say if you like what you see, say 'screw it' and sign up. Read up on the comparison sites (including the frequent flyer blogs) to see which cards offer what, by all means. All I've read says that the US Amex Platinum is a worthwhile card if it meets your requirements and the benefits match the cost. Its travel-related benefits in the US seem from afar to be pretty positive.

I saw this article, among others, when I searched jail.

AmEx ‘Once in a Lifetime’ Rule: How It Works - NerdWallet

WWW.NERDWALLET.COM

---

American Express restricts each card welcome bonus to one per person, per lifetime, but there are a few workarounds to...

 

Definitely a lot to consider.  You made some very good points especially about the motivation for getting the card.  I already have other Amex cards including the Green Card, the Gold Card, and the Delta Reserve and got bonuses.  So my main motivation would be the credits and travel benefits.  Still a lot to think about though!

[Jim_n_NYC]

7 hours ago, harlow said:

Wow this is a n awesome thread…I just got into the credit card rewards game a few months ago even though I’ve had credit cards for years.  I’d be curious to know if anyone has applied for Amex cards even though they’re in pop up jail. I’m an avid traveler and I qualify for the Platinum card but I’m currently in pop up jail. Anyone else just say screw it and got the card without the sign up bonus?  

I personally don't sign-up for a card unless I can get the bonus, but if you can get enough value out of the credits to counter the annual fee, it might be worth it.  But, if you have a few other cards, spreading your spending around all of them might not be worth it.

I'm still locked out because of the pop-up, but SO got out a few months ago so we've been working on the Hilton cards since we can really use those points.

[harlow]

13 hours ago, Jim_n_NYC said:

I personally don't sign-up for a card unless I can get the bonus, but if you can get enough value out of the credits to counter the annual fee, it might be worth it.  But, if you have a few other cards, spreading your spending around all of them might not be worth it.

I'm still locked out because of the pop-up, but SO got out a few months ago so we've been working on the Hilton cards since we can really use those points.

See one of the main reasons I’m hesitant is because I’m afraid that I might be leaving valuable MR points on the table. With my travel habits I know I can justify the card long term even with my other cards.  I use my cards like cash so with my current spending I can on average earn about 50-60k in MR points per year. That’s kinda what has me on the fence. I could be out of pop up jail next week or it could be next year…but if I wait I could also be missing out on the benefits the platinum card gives me. Extreme first world problems for sure 😆😆😆

[Jim_n_NYC]

2 hours ago, harlow said:

See one of the main reasons I’m hesitant is because I’m afraid that I might be leaving valuable MR points on the table. With my travel habits I know I can justify the card long term even with my other cards.  I use my cards like cash so with my current spending I can on average earn about 50-60k in MR points per year. That’s kinda what has me on the fence. I could be out of pop up jail next week or it could be next year…but if I wait I could also be missing out on the benefits the platinum card gives me. Extreme first world problems for sure 😆😆😆

Haha, very true.  I started out the travel hacking game back in 2016 with Amex, but since their card apps are more restrictive (lifetime bonus restrictions...really 7 years), I ended up switching us to Chase which has been much easier to earn points and miles on.

SO and I both went into pop-up jail about the same time, but I'm still stuck.  Not a big deal, but would be nice to build up more of a pool of Hilton points on my side.

[harlow]

11 minutes ago, Jim_n_NYC said:

Haha, very true.  I started out the travel hacking game back in 2016 with Amex, but since their card apps are more restrictive (lifetime bonus restrictions...really 7 years), I ended up switching us to Chase which has been much easier to earn points and miles on.

SO and I both went into pop-up jail about the same time, but I'm still stuck.  Not a big deal, but would be nice to build up more of a pool of Hilton points on my side.

I’m former military and I’ve always been a heavy traveler so I kick myself everyday  that it took me so long to get in the points and miles game. I was one of those credit cards are for emergencies only kinda people and I would just stack points. I have over 500k in Delta miles and over 900k in Hilton honors points. I did get a 40k SUB from the Green Card but bit the bullet and got the Gold card without getting a SUB. I know I’m getting the cards too quickly which is the reason I’m most likely in pop up jail. I got a targeted offer for 80k UR points from Chase if I got the Sapphire preferred so I did and I’m happy with it. I was also going to get the Hilton Aspire but again I couldn’t get the 175k point bonus because of pop up jail so I didn’t get it. 

[+ tassojunior]

Been doing card churning since the first days of the first Citi AA card using presidential dollar coins.. This week doing the AmEx Plat Biz now for a 250K SUB worth $5000 on just the sub . With spend and 20%-30% transfer bonus that will be 5 saver Business flights US/EU. Last week i did the annual Rakuten/LifeLock hack where you buy an expensive Norton Lifelock plan for $500 and get 95% rebate in AmEx points. Comes out to $500 for 50K points which equals another saver Business US/EU flight. Will be churning another Alaska Business card in a week or two for another 70K + companion ticket. The 10th i've had in 3 years and will be the 3rd open. It's a fun hobby to fly free in business all the time worldwide.

[+ tassojunior]

On 12/5/2024 at 1:52 PM, Jim_n_NYC said:

Haha, very true.  I started out the travel hacking game back in 2016 with Amex, but since their card apps are more restrictive (lifetime bonus restrictions...really 7 years), I ended up switching us to Chase which has been much easier to earn points and miles on.

SO and I both went into pop-up jail about the same time, but I'm still stuck.  Not a big deal, but would be nice to build up more of a pool of Hilton points on my side.

Pop-up is just telling you they won't give you that high a bonus. You have to try constantly lower SUBs to see how much (or little) they want you. There are also a lot of NLL offers (No Lifetime Language) they put out, often to you. Also, if you apply a couple times and get pop-ups you may see a "Do you want our agent to phone you?" button. If so push it. They pay aggressive commission salepeople to sell their cards on the phone and if one contacts you they only care about getting you approved instantly for the highest sub they can attach to your name. There's a "funny" story on AmEx where they had a super-aggressive salesperson named "Adam" who was so good at getting marginal people the highest bonus that people were selling his phone number online. AmEx found out and closed all those accounts and clawed back points but since it was AmEx's agent, the FCC eventually fined AmEx $129 million even after they had restored all points. Having a commissioned saleperson working on getting you approved is great. Only AmEx.