another wwyd question involving (yet another) friend with some questions(not kidding,they all ask at once it seems) now I'm hestitating before I rec. Chase (esp till I hear if people ar getting their points bonuses)
****young couple- mid twenties, has their own business for about a year (a real one) use a debit card for the business(!) and wife has one cc opened in 7/16 (don't know brand,could be swa) I don't know credit score yet- she pays rent thru venmo tho.
she's looking for SWA points, I sent her to read some stuff,she came back asking about the cp. I'd like to see her DH open a biz card of some sort- how would they fill that app out,and which one to start them off?probably by next week..... if her DH did a swa biz app now, she could still get one in jan,right?
Since she's focused on SWA I naturally thought of chase - for her the swa biz+ pers for the cp dec/jan is a no brainer..before then tho....what order is recommended? I love the csp for newbs where would that fit in?
I'd like to lay out a few cards for her to go for(depending on cs of course) and would LOVE some input!
(disclaimer, I realize lots of things up in the air currently,I will be explaining that also,just need some pointers) thanks!
I would actually suggest the CIP as their first business card, because:
1. They have an actual business. If they own the business together, the couple could get two CIPs, with one getting it first, then referring the other for a referral bonus and the other getting another CIP.
How they would fill in the application depends on how they’ve organized their business. Is it a sole proprietorship that the husband owns and the wife just works as an employee? Is it a partnership? LLC? Corporation? Do they have an EIN for the business? Where do they run the business? In its own storefront/office or out of their home?
2. Wife pays rent through Venmo! Currently, Venmo is still coding 3x UR on the payment and fee. Venmo charges a 3% fee when paying with credit cards, but (like Plastiq previously) paying with the CIP and earning 3x UR back negates the fee and puts you a smidge ahead. [ETA: this could really boost their UR stash. BUT FAIR WARNING, the way things code could change at any time, and Venmo could start coding for only 1x UR very suddenly, without notice.]
3. The CIP’s 80k URs and any URs they accumulate can be transfered to SW RR points, although they don’t count for CP.
4. We’re in mid-September, and it’s a little too early to be recommending comfortably going for the CP for 2019-2020, unless they want the CP ASAP. The SW Biz card offers 60k RR points after spending $3k/3 months. If they’re going to be using this card for business, rent, and whatever else, I really think they could blow through that $3k MSR in a month (since the point is to get them off debit and on to credit), and their 60k RR would post maybe in November or December. If they wait until October or November to get a second SW personal card, those points may not post until December or January. You know to get the CP, all 110k RR points have to post in the same year. Your couple needs to understand that the 110k RR points need to post in the same year, and to time their opening of and spending on the SW cards accordingly. With Chase delaying the posting of signup bonuses, I couldn’t tell you for certain when the bonuses will post. There would seem to be less room for error going for the SW Biz and personal cards in November or December to start their CP next year.
If they get a CIP now, that person could also go for a SW Biz in about 3 months, or mid- to late-December. Then go for a SW personal card in January.
5. You’re asking about the husband getting the SW Biz now and the wife getting one in January? One what? Another SW Biz? For what purpose? Just the points? If they’re just a couple, no kids, I would think they should tag team and designate one spouse to go for the CP for 2019-2020 (the husband), and then the wife should stay in reserve for the CP in two years for 2021-2022. The SW cards have terms that restricts bonuses to 24 months (and who knows if Chase will change that to 48 months). If the wife goes for the SW Biz and SW personal just for the points when her husband already has the CP, she may not be able to get these cards when it’s time for her to get the CP. (And it seems you think she may already have a SW personal card. The one SW personal card rule would disqualify her from opening another card as long as that card is open and for 24 months after she got the bonus on that card.)
I’ll defer to my more knowledgeable SW flying, CP chasing colleagues, but I’d think that if the wife wants SW points AND the CP, they both should focus on getting URs that can transfer to SW RRs, let her husband get the CP the first time around and save room for the wife to get the CP next time around.