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24 comments
Sorry for my ignorance, but what is a "SUB"?
Glad you talked about hawn air thanks
Is it crazy to sit on points while all of this blows over? I have a lot of UR, Hilton and MR points. Unless they greatly start devaluing points I think I will wait it out instead of cashing out.
I think its always best not to hoard points, but always earn and burn… At any time, use your points for the most valuable thing you can spend them on so that you don't get stuck holding a massive bag of any particular points currency which could potentially be devalued in the future… Right now, for me, I think the wisest way to use up some of my points is to cash out, given that theres so much uncertainty regarding me being able to travel in the near future, we do not know how long this corona virus risk will be around… This is actually the reason why I think the Schwab Platinum makes amex the strongest points currency – the amex setup enables you to earn a ton of points, and having the Schwab Platinum gives you ultimate flexibility to switch up when circumstances change allowing you to transform it into a cash back setup if travel is no longer a near term priority… Basically, even switching to cash back, you have had pretty solid earn rates with the Schwab Platinum, Gold, BBP amex setup, getting essentially 5% cash back on groceries, dining, gas and computer equipment (with the business gold), 6.25% cash back on airlines, 2.5% cash back on miscellaneous, and if you have the green card, 3.75% cash back on miscellaneous travel, with the rakuten visa, 3.75% cash back on top of rakuten bonuses on virtually any online shopping, plus signup bonuses, retention offers, and referrals… Even as a pure cash back setup thats hard to beat… I think only a maxed out BofA setup earns more… I think in a downturn situation like this, that amex cash back becomes significantly more valuable… The earn rate on amex points also makes to too easy to earn more than enough points for a trip in a short period of time… Especially if you also combine it with hotel points like Hilton…
Hey Seby, can you guide me on how to invest in stocks?
Hey Sebby, what do you think about applying for new cards in this time period? Will banks give lower credit limits because of the potential hard times ahead?
I have a Chase Sapphire preferred is there anyway I could use my points to pay my bill?
Probably not a good idea for everyone to redeem all their points during this time. Will cause a lot of stress on the banks having to pay out so many people at once since they are betting most people won’t use them
Hey sebby do you have the 45k points $2k spend link?
hey, I have all the chase cards except chase business unlimited (the last one before 3/24), I applied yesterday and got denied .. did some digging and saw my last application was Jan 26..which is not past 60days..do you think I should call recon or eat the hard inquiry and wait?
BofA cards are really convenient for this and have lots of value if you’re in the Preferred Rewards program (some cards are 3% categories – but with up to 75% add’l point earnings, giving you 5.25%). 👍
I'm in a weird spot.. I just recently got the Targeted 100k offer for AMEX Platinum at the beginning of March and the offer expires at the end of the month.. Now this whole "beer bug" happened, and now i'm hesitant on applying.. If I don't apply, will they still Target me in the future?
For most here it won't be an issue, but cards are tightening requirements and closing accounts. If an account is closed, you lose your points. If you are behind in payments, you lose your points. I am never behind in payments and high credit score, but my income is near lower limits and I will be taking points as statement credit monthly for now. Also in 2008, they changed terms without much notice and due to need for the card I had to accept the new terms when I normally would not have, so one card went from 7.9 percent fixed rate to 10.99 percent variable. Today I would refuse the new terms and close account but doing so would lose me points. So again, I keep my points low for the time being. If you are high income, very secure none of this is an issue, but for some this is important to consider.
Thanks Sebby – what's the best way to donate UR points to charities helping during the COVID outbreak?
I was on hold with Delta for close to an hour….ended up just hanging up…after this virus they probably laid off half their workers..
Hilton points are aren’t worth anything now. Like .04 of a cent !!! What the hell !!! Was looking at rooms for when all this was over and was shocked.
Having a roll cashing out with Charles Schwab Platinum. I also found out I can cash out to my ROTH IRA without a penalty to my annual contribution. It looks like it is considered a rebate not a cash contribution.
I may redeem my United points for a Walmart gift card as I only have like 11,000 and have not flown them in years!!! Those miles are not nearly enough to be redeemed for any kind of a trip.
Can you do a updated "Whats in my wallet?"
Citi rewards has a good redemption value. 1 cent per point for gift cards such as target. Too bad their customer service blows lol.
Ive had the CSR for 5 years can i downgrade it to a freedom unlimited and immediately apply for a new CSR to get another bonus
How will this virus situation in general affect credit in situations where people aren’t required to pay in this volatile situation? For example: renters being barred from evictions and therefore you’re racking up debt until the situation is cleared up and evictions are allowed again. Will we take hits on our credit?
And this is exactly why i prefer cashback cards over points cards! Gotta be able to get a 1:1 cash out ratio!!
Thanks. Great topic. I took your credit card questionnaire. Since then, I have used my American Express Charles Schwab Platinum to invest into the market as it's a great time to do so. I have been doing dollar cost averaging investing a little every week. Happy with this investment.