I love credit cards so much!

[gottalovepluto]

Someone just started a discussion on the budget board about the cost of hobbies... I am such a nerd, my hobbies are credit card bonuses and bank account bonuses. And I'm a very lucky nerd because this makes money!

 

[miztressuz]

DoC put up today a pretty comprehensive beginners guide to bonus sign ups: https://www.doctorofcredit.com/beginners-guide-credit-card-bonuses/

So far it's making a handy reference to keeping all the "rules" straight for each card issuer. (as I'm trying to contain myself to just skimming so as to not get lost down the rabbit hole yet )

 

[platamama]

35,000 points is only 10,000 points more than 25,000 (duh!), but you have to spend twice as much to get it. I think I'd rather take my 25,000 and save that extra $5000 to put towards the minimum spend on another Chase card when I get below 5/24 next month. Does this make sense or is there something I'm not considering?

I debated the same question, and for myself I decided to go with the 25K offer, but that's mostly because 1) I'm eyeing other upcoming minimum spend requirements like you are, and 2) like having a known 25K offer vs an hoped-for 35K offer that may or may not materialize. DH has a targeted 150K MR offer on AX Biz Plat that expires in a few weeks, but the MSR is high and I don't think we could meet both MSR on that and a 35K SPG offer concurrently.

 

[SouthFayetteFan]

It's really an extra 15K in points (10K+5K) for the extra $5,000 in spending (i.e., 10,000 more points for 35K vs. 25K + 5K points for the spending). 15,000 spg points (45,000 Marriott points) are worth about $400 or so to me. I think that's a decent return on $5,000 of spending. But I totally agree that it's really what makes sense to you.

SPG Biz sounds like a solid choice if you want a CC now but are watching your 5/24 (says the person who made the exact same choice )...

I debated the same question, and for myself I decided to go with the 25K offer, but that's mostly because 1) I'm eyeing other upcoming minimum spend requirements like you are, and 2) like having a known 25K offer vs an hoped-for 35K offer that may or may not materialize. DH has a targeted 150K MR offer on AX Biz Plat that expires in a few weeks, but the MSR is high and I don't think we could meet both MSR on that and a 35K SPG offer concurrently.

I love seeing everybody's logic on looking at things. Always interesting on these "gray" area questions where there isn't a right or wrong answer

@havaneselover - excellent point on the "everyday point earning". I include those base earnings when analyzing the total return on an offer but don't include when comparing to another min. spend oddly enough haha. It's just the (strange) way I like to look at them as I assume the base earnings on any card would be somewhere between 1.5 - 3% depending on the card so I exclude that and analyze the Signup component alone, lol.

 

[Albort]

I love seeing everybody's logic on looking at things. Always interesting on these "gray" area questions where there isn't a right or wrong answer

@havaneselover - excellent point on the "everyday point earning". I include those base earnings when analyzing the total return on an offer but don't include when comparing to another min. spend oddly enough haha. It's just the (strange) way I like to look at them as I assume the base earnings on any card would be somewhere between 1.5 - 3% depending on the card so I exclude that and analyze the Signup component alone, lol.

yeah, i think i'm alone on my end being the one that likes bigger bonuses. i.e. i'm the only one here doing the 120k bonus.

 

[SouthFayetteFan]

yeah, i think i'm alone on my end being the one that likes bigger bonuses. i.e. i'm the only one here doing the 120k bonus.

I think the "higher bonus" concept is something that we all need to take a harder look at now because the avenues to continue to move from sign-up to sign-up are slowing. All of these application rules with Chase, Citi, BofA, are taking their toll. Slowing your pace of applications is a fairly new concept.

EDIT: if this comment was confusing what I mean is we should all consider going after the higher bonuses (which are usually accompanied by higher min spends) which help slow your pace so to speak.

Just for some perspective on my history with churning (all 2 player):

• 2011 we did 2 new cards
• 2014 we started really focusing on this hobby and did 3 new cards,
• 2015 we did 14 new cards
• 2016 we did 29 new cards
• 2017 we did 13 new cards - really started slowing the pace as I focused on higher spend bonuses
• 2018 we are targeting < 8 cards to keep Chase happy

So we are just now starting to slow our pace to keep in good graces!

There is however a point at which a higher bonus starts to wane for me. That 120k Marriott offer (if I were eligible) only comes out to a 7-8% return and I really don't like to hit a signup bonus for less than 15% personally. Ultimately though I think we all need to evaluate how many cards you can reasonably get in a year - the days of 29 cards in a year don't exist anymore. It seems in 2 player mode that 7-10 cards is a much more likely target (and obviously half of that in single player). If you can manage a lot of organic spend (or like to MS) the higher signups can make a lot of sense. For others, a $5k min. spend will take every bit of 3 months and maybe they even prepay some stuff on the back-end. Anything higher than that is gonna get scary for those folks and they still may enjoy a simple $500 or $1,000 spend every so often.

I guess I say all of this to continue to reiterate the point that a Plan or Strategy is key in this game. Those that will continue to succeed will plan out at least 9 months and more likely 18-24 months. Of course you need to be willing to adapt if an unexpected offer comes up but having that plan will keep you from making short-sighted mistakes.

 

[DisneyMandC]

I guess I say all of this to continue to reiterate the point that a Plan or Strategy is key in this game. Those that will continue to succeed will plan out at least 9 months and more likely 18-24 months. Of course you need to be willing to adapt if an unexpected offer comes up but having that plan will keep you from making short-sighted mistakes.

Yes so much to this! I feel like I've asked so many questions on this board but I really want to make sure I get my strategy right since I really just sort of haphazardly signed up for CSP and CF within 30 days last fall. Now I'm reading Doctor of Credit and r/churning daily to make sure that I'm getting the right cards for the vacations I want to take. I also explained some of this strategy to DH the other night while applying for his CIP. He asked me if any of these cards had annual fees on them and I explained that he did, but that we would be downgrading some with annual fees (CSP, CIP eventually) and that others would hold their value even with the annual fees (Marriott, CSR). It's funny how we've both gotten into these little side-hustle hobbies in an attempt to fund travel. Ask me about coming home to find 6 150-count boxes of puppy potty training pads in living room this weekend! At least his eBay business is doing well!

 

[1st*toright]

Goodness gracious - I was traveling at the beginning of the month and have been busy at work - this thread moves so quick it has taken me days and days to catch up.

I just pulled the trigger on the CIP. I'm relatively new to this game, and don't have a lot of time/mental energy to devote to this, so I'm concentrating on maximizing UR with organic spend - so I'll get some benefits, but I'm going be doing the suites to Singapore anytime soon...

Good sign up bonus, and seems like a useful card - maybe even more useful when I can PC to the CIC in a year (lots of the CIP benefits overlap my CSR, but the sign up was worth it!) So I'm still at 3/24, with one app dropping off in April. Thinking I will pick up the Freedom for the trifecta either in March or in April, which will leave me still at 3/24 once my oldest one drops off.

I have a Marriott rewards card and a Disney Premier Visa that I'm thinking of getting rid of. I have a decent stash of Marriott rewards points, but my Platinum status ends this month (which was more useful as a match at Starwood hotels than at Marriott, honestly) and it isn't really worth the effort to try to maintain Gold status with them (as I said, focusing on UR earning cards). I may go to the no fee Disney card (mostly because the card is cute... but other than the extra 1% on grocery spend, the Premier doesn't do me much good). Not worried about my credit score - don't carry any debt, so no ratio of debt to credit to be concerned with - any other reason I shouldn't ditch these 2 cards? (Both were opened in 2016, so well beyond a year)

 

[Calfan]

DP on timing for Delta bonus miles from the Amex Gold Delta Skymiles Business card. I finished up my minimum spend on that card last Thursday (2/15), and the 30,000 bonus points were in my Delta Skymiles account when I looked today. They might have been there sooner, but this was the first time I checked. I haven't even received, let alone paid, my bill. I was surprised by how fast they showed up. Of course, it turns out that I didn't end up using the bonus miles for the flights I had in mind, because I found a pretty cheap fare using Delta one way and United the other, but I did use the Delta cc to pay for the Delta flights which will trigger the $50 statement credit that was another perk of opening the card and will get us free bags. (We'll also have free bags on the United portion because I used my Club card for that purchase.) I'm still happy to have the Delta points. I have flown Delta only rarely in the pas when we lived in California, but now that we live in Boise, Delta has some good nonstops out of BOI.

 

[gottalovepluto]

A report of CIP coding as cash advance on Plastiq over on r/churning, don't want to freak anyone out but might be something to keep an eye on. I've asked what they were paying, will update if they respond. https://www.reddit.com/r/churning/comments/7yutif/daily_discussion_thread_february_20_2018/dujzb7m/

 

[SouthFayetteFan]

Goodness gracious - I was traveling at the beginning of the month and have been busy at work - this thread moves so quick it has taken me days and days to catch up.

I just pulled the trigger on the CIP. I'm relatively new to this game, and don't have a lot of time/mental energy to devote to this, so I'm concentrating on maximizing UR with organic spend - so I'll get some benefits, but I'm going be doing the suites to Singapore anytime soon...

Good sign up bonus, and seems like a useful card - maybe even more useful when I can PC to the CIC in a year (lots of the CIP benefits overlap my CSR, but the sign up was worth it!) So I'm still at 3/24, with one app dropping off in April. Thinking I will pick up the Freedom for the trifecta either in March or in April, which will leave me still at 3/24 once my oldest one drops off.

I have a Marriott rewards card and a Disney Premier Visa that I'm thinking of getting rid of. I have a decent stash of Marriott rewards points, but my Platinum status ends this month (which was more useful as a match at Starwood hotels than at Marriott, honestly) and it isn't really worth the effort to try to maintain Gold status with them (as I said, focusing on UR earning cards). I may go to the no fee Disney card (mostly because the card is cute... but other than the extra 1% on grocery spend, the Premier doesn't do me much good). Not worried about my credit score - don't carry any debt, so no ratio of debt to credit to be concerned with - any other reason I shouldn't ditch these 2 cards? (Both were opened in 2016, so well beyond a year)

Obviously you know your strategy better than any of us. Some people won't use a 5/24 slot on Freedom, others consider it to be worth it. I'm in the camp that I plan to use 5/24 slots on Freedom and Freedom Unlimited because I want the max number of URs.

You could downgrade your Disney premium to the regular card to keep it open. However, that won't get you the $200 statement credit offer which is available thru the referral links circulating currently. The question there is - is a $200 stmt credit worth a 5/24 slot - again that's a personal decision.

Lastly, the Marriott rewards is fairly simple - is the annual fee worth the free night (do you have a use for the free night?). If the answer is no then ditch it (I did). If the answer is yes keep it (many do). Keep in mind that free night is only good at a cat 1-5 property. Also if you plan to cancel, wait for the free night to post first then cancel. You get to keep the free night

Let us know what you end up deciding to do - always love to hear somebody's ultimate decision and logic behind it.

 

[gottalovepluto]

Goodness gracious - I was traveling at the beginning of the month and have been busy at work - this thread moves so quick it has taken me days and days to catch up.

I just pulled the trigger on the CIP. I'm relatively new to this game, and don't have a lot of time/mental energy to devote to this, so I'm concentrating on maximizing UR with organic spend - so I'll get some benefits, but I'm going be doing the suites to Singapore anytime soon...

Good sign up bonus, and seems like a useful card - maybe even more useful when I can PC to the CIC in a year (lots of the CIP benefits overlap my CSR, but the sign up was worth it!) So I'm still at 3/24, with one app dropping off in April. Thinking I will pick up the Freedom for the trifecta either in March or in April, which will leave me still at 3/24 once my oldest one drops off.

I have a Marriott rewards card and a Disney Premier Visa that I'm thinking of getting rid of. I have a decent stash of Marriott rewards points, but my Platinum status ends this month (which was more useful as a match at Starwood hotels than at Marriott, honestly) and it isn't really worth the effort to try to maintain Gold status with them (as I said, focusing on UR earning cards). I may go to the no fee Disney card (mostly because the card is cute... but other than the extra 1% on grocery spend, the Premier doesn't do me much good). Not worried about my credit score - don't carry any debt, so no ratio of debt to credit to be concerned with - any other reason I shouldn't ditch these 2 cards? (Both were opened in 2016, so well beyond a year)

Idk Marriott, I'd definitely ditch the Disney Premier. I don't know that I'd hop on the normal Disney card. It's got $200 statement credit for $500 spend right now through referral links but if you can do more spend you can get more out of other Chase cards and Disney is not under 5/24 so you can circle back and hit that if you breach 5/24. If it works in your plan because you don't plan on many credit cards and you have no interest in ANY other Chase cards than the Freedom then I'd say go for it. BUT- you'll want to space out your Chase apps every few months (like you are doing) maybe 3 a year to stay safe seems to be the ballpark for most of us (I think). (Chase might get a bit weird and shut down your accounts if you open too many Chase cards in a short period of time.)

I'd strongly consider getting the CIC separately to hit up that bonus as well and just canceling the CIP (unless they deny you the CIC or you are over 5/24 at the time you are ready to drop the CIP then downgrade).

ETA: and bonus technical points to @SouthFayetteFan for hoping on the Disney downgrade! I always forget that's an option.

 

[SouthFayetteFan]

Idk Marriott, I'd definitely ditch the Disney Premier. I don't know that I'd hop on the normal Disney card. It's got $200 statement credit for $500 spend right now through referral links but if you can do more spend you can get more out of other Chase cards and Disney is not under 5/24 so you can circle back and hit that if you breach 5/24. If it works in your plan because you don't plan on many credit cards and you have no interest in ANY other Chase cards than the Freedom then I'd say go for it. BUT- you'll want to space out your Chase apps every few months (like you are doing) maybe 3 a year to stay safe seems to be the ballpark for most of us (I think). (Chase might get a bit weird and shut down your accounts if you open too many Chase cards in a short period of time.)

I'd strongly consider getting the CIC separately to hit up that bonus as well and just canceling the CIP (unless they deny you the CIC or you are over 5/24 at the time you are ready to drop the CIP then downgrade).

@1st*toright I'd second the comment on getting a separate CIC - the URs from the signup bonus are well worth it there! I can't believe I didn't come up with that answer, haha - that's why multiple responses are great!

 

[miztressuz]

Oh, totally forgot earlier, I got an AmEx offer for Kimpton hotels. $60 back spending $300 or more on room and rate charges 2/20 - 5/20/2018. I had been contemplating a Kimpton stay for the 10K IHG club points. If you had the IHG card you'd have to decide if $60 cash is better than the 5x points with the card. (haven't done the math, just thought I'd throw it out there)

 

[CaliforniaGirl09]

You don't have to do a police report to freeze your credit, although it is a different process than a fraud alert. I have all three major bureaus frozen, plus Innovis and chex system.
When I got my Uber card, I just called Transunion to lift using my pin. I left the other two major bureaus frozen.

https://www.consumer.ftc.gov/articles/0497-credit-freeze-faqs#place

We froze all of ours after the Experian data breach. Since we are in the market for new cards I was going to lift all of them, but maybe I'll try to find out what bureaus specific cards use and just do a temporary lift.

 

[Albort]

I think the "higher bonus" concept is something that we all need to take a harder look at now because the avenues to continue to move from sign-up to sign-up are slowing. All of these application rules with Chase, Citi, BofA, are taking their toll. Slowing your pace of applications is a fairly new concept.

Just for some perspective on my history with churning (all 2 player):

• 2011 we did 2 new cards
• 2014 we started really focusing on this hobby and did 3 new cards,
• 2015 we did 14 new cards
• 2016 we did 29 new cards
• 2017 we did 13 new cards - really started slowing the pace as I focused on higher spend bonuses
• 2018 we are targeting < 8 cards to keep Chase happy

So we are just now starting to slow our pace to keep in good graces!

There is however a point at which a higher bonus starts to wane for me. That 120k Marriott offer (if I were eligible) only comes out to a 7-8% return and I really don't like to hit a signup bonus for less than 15% personally. Ultimately though I think we all need to evaluate how many cards you can reasonably get in a year - the days of 29 cards in a year don't exist anymore. It seems in 2 player mode that 7-10 cards is a much more likely target (and obviously half of that in single player). If you can manage a lot of organic spend (or like to MS) the higher signups can make a lot of sense. For others, a $5k min. spend will take every bit of 3 months and maybe they even prepay some stuff on the back-end. Anything higher than that is gonna get scary for those folks and they still may enjoy a simple $500 or $1,000 spend every so often.

I guess I say all of this to continue to reiterate the point that a Plan or Strategy is key in this game. Those that will continue to succeed will plan out at least 9 months and more likely 18-24 months. Of course you need to be willing to adapt if an unexpected offer comes up but having that plan will keep you from making short-sighted mistakes.

quite the opposite, but your right on one thing, everyone's thoughts and ideas and strategy is different.

 

[SouthFayetteFan]

quite the opposite, but your right on one thing, everyone's thoughts and ideas and strategy is different.

Can you clarify the "quite the opposite" lol - I said a lot of things there, haha.

 

[gottalovepluto]

Someone just started a discussion on the budget board about the cost of hobbies... I am such a nerd, my hobbies are credit card bonuses and bank account bonuses. And I'm a very lucky nerd because this makes money!

They stated they were paying FedLoan student loan balance, their ECSI loan went through fine though.

 

[1st*toright]

Lastly, the Marriott rewards is fairly simple - is the annual fee worth the free night (do you have a use for the free night?). If the answer is no then ditch it (I did). If the answer is yes keep it (many do). Keep in mind that free night is only good at a cat 1-5 property. Also if you plan to cancel, wait for the free night to post first then cancel. You get to keep the free night

Let us know what you end up deciding to do - always love to hear somebody's ultimate decision and logic behind it.

That's exactly why I'm thinking of ditching Marriott- I can use a category 5 free night now and again, but around me its not hard to find one for less than $100 on a weekend (and if I'm staying at a hotel during the week, its usually on the company's dime) and I have enough Marriott points for something like 10 Cat 5 nights at this point (and will likely bank more points just from hotel stays for work), so paying an AF for one more Cat 5 night doesn't make a lot of sense. If it was a night at ANY Marriott, that would be a different story!

I'd strongly consider getting the CIC separately to hit up that bonus as well and just canceling the CIP (unless they deny you the CIC or you are over 5/24 at the time you are ready to drop the CIP then downgrade).

ETA: and bonus technical points to @SouthFayetteFan for hoping on the Disney downgrade! I always forget that's an option.

Good point about the CIC bonus. Hmm. We'll see in a few months how things look - another 30k points is nothing to sneeze at.

I may downgrade the Disney just to keep BB8 in my wallet

Thanks for your input!

 

[gottalovepluto]

Rough weekend for earning bonus points. No more 5x UR at Gift Card Mart on CIC/Ink+ (or 3x UR on CIP) through PayPal: http://frequentmiler.boardingarea.com/2018/02/19/another-one-down-no-5x-gift-card-mart/

I wonder if this affects Gyft and Swych, which works similarly.

You know it's bad when DoC does a round up post on the recently dead deals... https://www.doctorofcredit.com/roundup-recently-dead-deals-gamestop-alliant-giftcardmart-mpx/