thoiboi

Asked to be created by @Doom878 ! Feel free to ask questions about Credit cards (i.e. travel credits, rewards questions, sign up bonuses, etc.) here!

Mizouse

Doom878

Thanks Thoiboi

So my buddies say Chase Sapphire Reserve is the big dog for cards. Apparently the points back are the best value for travel or cash back. I haven't fully dived in as I want to refinance my house first but it'd be nice to learn more stuff off the interwebz.

thoiboi

My first questions for anyone looking for a new credit card: What do you want it for, what's the majority of your spending, and how much do you value the points?


We need to set some baseline as to your ultimate goal so as to provide you with the best information/recommendation. That card is 1 of about 20 that I have and it has its purpose.. I'll also caveat this: I don't churn. I only get cards that I can get >100% of its Annual Fee in value. One card can be good for one person and not so great for another.


So with that, what are you looking for Doom? Do you spend a LOT on travel and food? Will you be able to take full advantage of all the benefits of the Chase Sapphire Reserve? What other categories do you shop in and would like some additional benefit?

Doom878

I travel a lot now. I buy a ticket at least once a month to NY averaging between $100-300 per month. I don't need to eat at the airport which I know some priority passes allow as either I eat ahead of time or use my buddy's card (they're lax in Miami). I do spend a lot on food going out. Usually in NY we'll stick with casual dining and if the time is right spend a little more. I have to read all the other benefits of the Chase card. I would like to know more about requirements such as FICO, DTI, public record stuff, etc. My current credit card bill is basically food, bills that I can pay with a CC, electronics. At the end of the day I want the best bang for the buck. Basically who wins in value between cash back vs travel points (free flights).

Mizouse

thoiboi

Well from what you've posted, it sounds like Chase Sapphire Reserve edges out (due to flights plus food). Despite the $450 annual fee, there's a $300 Travel credit (that you'll use in a heartbeat), $100 GLobal Entry waiver, 3x on travel, 3x on restaurants. The rest of the perks are just icing for you. I would have suggested the new American Express Gold card but it doesn't have any extra earnings on flights (only 4x on groceries and restaurants).

Personally for me my spending is:

Airfare directly through airlines: Amex Plat for 5x
Food and Groceries: Amex Gold for 4x
Food where Amex isn't accepted: CSR for 3x
Rental cars: CSR for 3x and primary insurance
Hotel: SPG Business card or Ritz Carlton card for 6X Marriott points (although the argument can be had to just push that spending onto the CSR for 3X UR instead.
Gas: Costco card for 4X as well typically but the last few months I've been using Chase Freedom for 5X through Chase Pay.
Everyday spend (with no bonus categories): Alliant Visa Signature for 3% cashback


Many of the above also have no foreign transaction fees so

oonowindoo

I refuse to wait in line for gas regardless how many x of points it gives me thus i have Costco membership but have never gotten gas at Costco in my life

I really enjoy my Capital one Venture, very easy to use! The added bonus is their Credit Wise thing is actually real time. and provide a lot more detailed info than some of the typical free credit monitor thing that like the ones from BOA or Chase or Amex.

Points will count 2x when used to "erase" any travel related charges.

thoiboi

Costco CC gets 4% at any gas station, not just at Costco, I've never gotten gas at Costco either

Mizouse

oonowindoo

Oh didn't know that. I thought it was only at Costco gas stations.
Then why are people waiting in line to save a dollar.... the f is wrong with them.

thoiboi

that's what's wrong.


Same people that drive 10 miles out of the way to save a dollar.. not taking into account the fact that you just wasted more than a dollar of gas..

Mizouse

doopstr

I have the Citibank Double Cash card. I can't be bothered to figure out what card I should be using for what kind of service so I went with the Double Cash since it is 2% on everything.

Doom878

I've heard of people calling in and they'll waive the $450.

My buddy hooked me up with his Global Entry application. I'm waiting for my appointment. But yeah 3x back on travel is awesome. Stupid question, is Taco Bell considered a restaurant. I tend to junk food occasionally. And for the CSR, what is the cash back on groceries?

What's primary insurance on rental cars vs what most other plat cards offer?

I have the Credit Wise for my Cap1 also. My score was about the same as my Credit Karma. But when I leased a car this year, the dealer showed me my score on their internal form and my FICO was like 30 points lower.

I recently got a GasBuddy card for gas fill ups. It links with your checkcard unfortunately but it's 5 cents cash back so if I can't make it to BJ's or Costco, I'll fill at a regular gas station for convenience.

justnspace

iTrader: (1)

something I havent seen since 2008, Chase closed my inactive card.

oonowindoo

Score on these free app is for reference only. Dont pay too much attention to it. what you should care about is if there is a sudden jump or drop in your score for no known reasons.

What i really like about the Credit Wise is it actually gives me creditor's info in real time if someone was to put anything negative on my credit report. It happened to me twice already and the person was not even me.... Thanks to Credit wise, i was able to call them right away and they were removed.

thoiboi

Sure.. worth a shot to see if they'll waive. But I get enough of the value that I don't bother with that You might be thinking about people calling the cancellation line threatening to cancel the card because expensive AF. But they have so many people, they may just cancel you anyway..
CSR only gets 1X at groceries, Taco Bell does count as a 'dining' which includes restaurants, coffee shops, etc..


Primary Insurance is key as other credit cards provide 'secondary' insurance. I.e. you get into an accident and waived Avis' insurance, they'll go to your personal insurance and anything THEY don't cover, your CC will. For the CSR, if you get into an accident, CSR will cover you 100%

thoiboi

Why did you have an inactive card

That's a great way to ruin your credit by messing up your credit history.

You should use your card once every few months so as not to make it inactive..

oonowindoo

I think that works with shit like DirecTV and Tmobile I think the target of Amex Plat and CSR are different people. If i were Amex or Chase, i would cancel your ass if you threatening me for $450 a year when i am already giving you $300 back.
If you do that, you probably can't afford to use our shit anyway.

thoiboi

Exactly I'd just say, "thanks, have a nice day, enjoy your ruined credit because you tried to churn "


that's why I don't churn

oonowindoo

I do cuz i am but it depends on who and what.

If i were to buy a Ferrari, i would pay MSRP or higher.... because that is what ballers do
If i were to buy a CIvic, i will make sure to spend 6 hours at the dealership for the additional $100 off MSRP

Doom878

And 2 free oil changes!

thoiboi

Not to mention free swirls i mean car washes!

Abe_Froman

iTrader: (5)

I'm rocking the same one as well. 2% cash back really adds up quick.

thoiboi

Yeah, for those that don't want to mess with points/redemptions, etc. Cashback is king.

This is the card I have: https://www.alliantcreditunion.org/b...-card#features

3% for the first year and 2.5% back every year after.. It does have a $59 annual fee though but my spending far covers that.. I even use it at Costco because 2.5% beats the 2% the Costco CIti card pays Plus since I'm an Exec member, I"ll still get the 2% Exec bonus on top of the 2.5%

#1 STUNNA

Any recommendations for a card with no interest on balance transfers for a limited time and no balance transfer fee? Nerd wallet doesn't have any

Yvuru

there is only one that i can think of. chase slate. everything else charges a fee

https://creditcards.chase.com/balanc...ds/chase-slate

#1 STUNNA

thoiboi

Did you close it already? IIRC Chase has like an 18-24 month window where you can re-apply for a card and get the same 'bonus'


Alternatively, what I've done is balance transfer using the Bank of America Cash Rewards card and just pay 3% fee but get 18 months, no interest.. If you check many new credit card offers, they oftentimes include a period of free balance transfers for a short amount of time.

#1 STUNNA

Anachostic

2% transfer fee here is the lowest I've seen in my limited searches.

https://cards.barclaycardus.com/bank...ing-mastercard

AZuser

https://www.americanexpress.com/us/c...amex-everyday/


If you're transfering less than $6670, just get one of the cards that offers $200 spend bonus with $500 spend within 3 months (e.g. Bank of America, Chase). The $200 spend bonus will offset the 3% balance transfer fee.

#1 STUNNA

can you balance transfer from Amex to Amex?

#1 STUNNA

nevermind

thoiboi

Typically banks don't allow you to BT from/to the same bank. I believe Chase has the same clause.

thoiboi

Additional caveat: BT don't count towards minimum spend. (may seem obvious to some, but not to others)

oonowindoo

A little info on the Priority pass.... To me The Amex Platinum is the sweet spot due to the addition of Delta and Centurion lounges.
I did not realize Chase Sapphire Reserve gives you UNLIMITED number of guest to the lounge?

justnspace

iTrader: (1)

dafuq, i'm already prime at 809-830...
it dont matter if i use it or not, as I have plenty of more credit available.

sure,once it closes, my score will dip...but who dafuq plays the short game?

Doom878

My buddy lets me use his priority pass via screenshot. They don't check the name here usually so they just scan it and I'm good for like $30 I think including tip. I'll typically pick up a meal for each of us free if I'm passing by his area. I can even booze up before a flight.