Citi Double gets you 2% in cash back, won't be able to top that for cash. I also have the Chase Freedom with alternating 5% categories, right now it's grocery and drug stores Next up is the Chase Preferred. It's only a $95 fee that's due on your 1-year anniversary. If you're a heavy spender when that year comes around they'll give you good deals to keep your business. In addition they give you 50,000 points if you meet min spending the first 3 months, it looks like you would easily. That 50,000 when converted to cash is $500. They're GIVING you $500 to open an account. (It's actually more since you'll get the $500 plus the cash back you will have earned doing the min spending).
How are y'all using the Chase Sapphire Reserve points to maximize value. I have read nerdwallet and thepointsguy for their thoughts too. I have 200K+ of the Chase points right now.
Saw a teaser from Marriott for 100k points if youre into traveling. Should burn those within a year though. I read they were changing the point values soon
Chase Sapphire Reserve or bust if you're going to travel all the time. Read EVERYTHING on this website. Top to bottom. https://www.valuepenguin.com/chase-sapphire-reserve-credit-card They cover TSA Precheck and/or CBP Global Entry program $300 in travel credit, which you get immediately when you use the card for travel purchases (plane tickets, hotels, rental cars...etc) Yes, it has a $400 annual fee, but when you factor in the $300 travel credit, you pretty much offset the cost and the annual fee is only $100 Priority pass access to various airport lounges. They're average, but its something 50K bonus points if you spend $4000 in the first 3 months on the card. and a lot more.
Transfer to travel Partners like southwest to book flights. Could also book hotels directly from chase rewards.
I book hotels through them. As far as the question, I have both the CSR and Amex Platinum. They both have big value for me. If you were just to get one of them I would recommend CSR if you do not fly that often but if you fly a bunch and stay in hotels the Amex Platinum is by far the better card. But for the average person the rewards with the CSR is second to none.
I definitely use my chase reward points for SW flights out of necessity but its not a highly encouraged thing by most of the travel blogs. They typically cite a value of 2.1c per point but thats an average weighted heavily on better redemption values on first class tickets or upgraded hotel rooms. The conversation rate for a Chase UR point to SW on the cheapest "wanna get away" ticket is something like 1.4c per point, which is far below a regular 2% card. The best usage for UR points is transfer points to the travel partners (both airlines and hotels). Booking through the Chase rewards is considered a faux pas. Most airlines have a fixed point redemption system to different areas of the world. E.g. if you transfer 150,000 points to American and book a first class ticket to Asia that usually costs $7000.00, then you're getting 4.6c per point. If the ticket is $10000 then you're getting 6.66c per point. That's how the travel blogs sell you on much better value from points than cashback. But to reiterate, using UR on domestic/economy class tickets is nearly equivalent or worse than a cashback card depending on how you're generating points. If you're using a Chase Freedom ( flat 1% back), then you're better off with a Citi doublecash (1% x 1.4c/p). If you're generating points with a Chase Freedom Unlimited (1.5% flat CB) then you're getting about 2.1% back per dollar spent (1.5% x 1.4c/p) if you're buying SW wanna get away tickets. And with method B you have to have a premium travel card (Sapphire Preferred/Reserve) to transfer to Southwest, so factor in roughly a $100 annual fee before you see a net benefit on cashback cards. Long story short, CB cards are much simpler and a better value if you only plan use the points on domestic/economy airline tickets. If you have more aspiration plans or prefer to travel in style you can do much much better with a premium travel card, but its complicated.
TL;DR. Take the 2% cash back and don't over think it. The truth is that the CC companies make ~3% on the transactions. If they are willing to give you back 2% then run with it. If the CC offers you a teaser deal, they are making a bet that they will lose short term but win over the long term. The CC want your month to month debt, at 18+%. This is where they make their majority of their money from you. Your decision on how you handle your CC debt is more important than choosing the CC with the best rewards program. I pay my CC debt off every month. No late fees, no interest charges. I have a 2% back card. That is how I roll.
This is pretty true. If you fly economy or book 2-3 star hotels, then your point redemption with CSR will be around 1.5c/p. You're only getting better point redemption if you're booking first class tickets, fancy hotels, or transferring large points to domestic flights in another country. I still think it's the best point redemption card when you combine Chase Freedom's 5% rotating categories, CSR's 3x on dining/travel, and then shopping through Chase's portal for an extra 1-2% points. There are still other comparable ways to save similarly, like if you had a 1.5% cash back card and shopped through cashback portals that give you 1-10% cashback. I complement my Chase cards with a Discover card, which usually has complementary rotating categories and a good cashback portal for online shopping. It truly comes down to penny-pinching to maximize your rewards. If you don't have the time or effort to do that, just enroll for the cards that give you the best signup bonus.
Same for me except my wife has 2% card and I have a costco card which has variable cash back (though only get once a year) from 1% to 4% depending on whether at Costco, restaurant, travel. or gas. My wife handles most of the expenses that aren't Costco, restaurant, travel. or gas. My average is about 2.7% cash back after taking out membership cost.
Keep in mind the points game is a psychological one. If you spend 100k and you get 2% back, that nets you $2000.00. Out of a 100k, that is not very much. If you're thinking about points every time you swipe your card, you're likely on the losing end of the game. When you make a purchase, your thought should be whether you want it or need it, not because you're getting points. Dont let your card direct you on where or what to spend. Trying to squeeze in an extra 2% over a guaranteed 2% cash back in 'savings' is highly inefficient and likely to be on the losing end. Think of it like a mall jewelry store that always has 50% off everything. You can purchase that $10,000 ring for $5000 on that 50% off .... or you can go to a professional jewelry maker and buy a higher quality piece of jewelry for the same $5000.00 price.
And in either case, you are out $5000. Do you really want that ring should be the question? Granted, my wife and I try to game the system, but it is based on spending habits and not purchase decisions. Only time we think about card rewards is major purchases that we make sure is on right card. It never plays a role in should I buy this...it will save me "X".
Most of my travel is domestic and I usually book economy and rely on status to get me upgraded. I'm not going to juggle cards based on what I am purchasing, so it does sound like the cash back works best. I have the Fidelity 2% card for personal expenses. I don't like Citi (I know they are all the devil, but I have a particular distaste for them). Who else has a 2% (or better) flat cash back? Thanks to all. This has been helpful
I have a CSR card. I didn't even know it got you access to airport lounges. I got it just for the 100k bonus. I'm taking a 3 week trip at the end of May in Europe/Africa with a few stopovers. What is the point in going into those lounges or perks for them if at all?
Lounges vary from place to place and company to company but most offer some form of free food and drinks. Free internet access and just a general sense of separation from the chaos of the terminal are also big things.
This is great advice for most people especially those just out of college with limited budgets. If one has a 3-6 month emergency fund, spend less than you make, can setup autopay for your credit card, and are putting money away for retirement, I'd recommend getting a 2% cash back credit card or other cash back option that will lead to 2% or more based on your spending habits.
