I love credit cards so much!

[mmmears]

create an account now... my friend made an account on gyft.com today and got hit by the payment declined...

We created one and it looks like it worked. Got 3 of the gift cards. Thanks for the info. And thank you, @Lain for tagging me in this one.

 

[Lain]

create an account now... my friend made an account on gyft.com today and got hit by the payment declined...

I got two orders in tonight before getting an error; payment could not be processed. I usually don’t get errors on Gyft anymore, but 3x $40 transactions back-to-back does look suspicious. When I tried again, the deal was dead.

 

[Lain]

Ok, I gotta take a break from skimming r/churning. The last straw has nothing to do with the drama, it's a question about SPG & Marriott cards in the question thread - he's (she's?) got 4 cards and wants to know what 3 to cancel to keep the best one... not really interested in the free nights, never used them, doesn't even know where to find them in the account

To be fair, it's entirely possible they haven't hit an anniversary yet to get one, but really? I know churning is about amassing lots points from CC sign ups (and then doing it again), but if you're paying money to do it, wouldn't you want to use the benefits to the fullest while you have the card? Or even if they managed to get all 4 in the last year on waived AFs, wouldn't you care about a literal free night to have a plan for it?

It's an interesting world out there. I guess not everyone plans out to the nth degree like Disney is programming us to do But it still a head shake when they follow up with "... For curiosity's sake, how exactly do I maximize them, and is it worth the 4 annual fees?"

I haven’t read the post in question. But to play devil’s advocate, holding 3 SPG cards takes up 3 of the 5 credit card slots that Amex limits you to. There are so many other co-branded cards to hit, particularly the Hilton and Delta family of cards, as well as Amex’s BBP and Everyday cards.

To add to this, DPs seem to suggest the FN certs from the Amex SPG cards post 6-8 weeks after the AF posts, which makes it difficult, if not impossible, to wait for the FN to post then cancel in time for a full refund of the AF, and Amex doesn’t prorate refunds after the 30 days. (I think I saw that the Chase Marriott cards’ FN certs post right on or very shortly after the anniversary.) So it seems to get the FN cert on the SPG Biz and Personal cards, you have to pay the second year $95 AF, and $450 AF on the SPG Lux. The question is then whether a 35k FN cert is worth $95 and a 50k FN cert is worth $450 (or an effective $150 after the $300 Marriott credit)? I think for some people, definitely. As an example, the 35k FN cert could’ve gotten me a room at the SpringHill Suites near Disneyland, which was going for $299 when we were down there two weekends ago. For others, keeping the SPG cards for the FNs might represent a greater opportunity cost from not accumulating welcome bonuses from other Amex credit cards.

I suppose one could eat the AF to wait for the FN certs to post if the value of the FN > AF, then cancel sometime after the FN cert has posted to open room for more cards. But do we know if Amex has been or will clawback the FN cert if you cancel the card? I thought I saw some discussion about that a week or two ago.

 

[miztressuz]

I haven’t read the post in question. But to play devil’s advocate, holding 3 SPG cards takes up 3 of the 5 credit card slots that Amex limits you to. There are so many other co-branded cards to hit, particularly the Hilton and Delta family of cards, as well as Amex’s BBP and Everyday cards.

To add to this, DPs seem to suggest the FN certs from the Amex SPG cards post 6-8 weeks after the AF posts, which makes it difficult, if not impossible, to wait for the FN to post then cancel in time for a full refund of the AF, and Amex doesn’t prorate refunds after the 30 days. (I think I saw that the Chase Marriott cards’ FN certs post right on or very shortly after the anniversary.) So it seems to get the FN cert on the SPG Biz and Personal cards, you have to pay the second year $95 AF, and $450 AF on the SPG Lux. The question is then whether a 35k FN cert is worth $95 and a 50k FN cert is worth $450 (or an effective $150 after the $300 Marriott credit)? I think for some people, definitely. As an example, the 35k FN cert could’ve gotten me a room at the SpringHill Suites near Disneyland, which was going for $299 when we were down there two weekends ago. For others, keeping the SPG cards for the FNs might represent a greater opportunity cost from not accumulating welcome bonuses from other Amex credit cards.

I suppose one could eat the AF to wait for the FN certs to post if the value of the FN > AF, then cancel sometime after the FN cert has posted to open room for more cards. But do we know if Amex has been or will clawback the FN cert if you cancel the card? I thought I saw some discussion about that a week or two ago.

No question it can be a legit question as to what to cancel, for those reasons. I was just more floored that when it was brought up it was like it never occurred to them ( or possibly knew about them). Looks like someone has brought up the anniversary aspect since I looked, wait to see if OP comes back with anything. I really hope it's just because this is their first year with the cards and they didn't look past the points bonus.

As for AmEx, haven't heard of clawback, but people have been waiting so long for them if they paid the annual fee to get it I'm sure they're waiting until they need a slot to actually cancel the card. I'm hoping once AmEx gets the hang of issuing the nights it doesn't take as long next year. (can dream, can't I )

 

[mmmears]

I haven’t read the post in question. But to play devil’s advocate, holding 3 SPG cards takes up 3 of the 5 credit card slots that Amex limits you to. There are so many other co-branded cards to hit, particularly the Hilton and Delta family of cards, as well as Amex’s BBP and Everyday cards.

Another newbie question here, but is the limit 5 CREDIT cards from Amex, meaning that the regular Plat and the Gold don't count? Asking because that Schwab card and the ability to cash out is something we are considering long term, but there are a few hotel cards we might want to get as well.

 

[Lain]

Another newbie question here, but is the limit 5 CREDIT cards from Amex, meaning that the regular Plat and the Gold don't count? Asking because that Schwab card and the ability to cash out is something we are considering long term, but there are a few hotel cards we might want to get as well.

Amex’s 5 credit card limit applies only to their credit cards — business and personal, Amex branded and co-branded. Amex also has a 2/90 rule that applies to credit cards, limiting you to 2 credit card approvals in a rolling 90 days period.

Amex’s personal and business charge cards (think the Green, Gold, and Platinum) aren’t included in either of the above limits.

 

[mmmears]

Amex’s 5 credit card limit applies only to their credit cards — business and personal, Amex branded and co-branded. Amex also has a 2/90 rule that applies to credit cards, limiting you to 2 credit card approvals in a rolling 90 days period.

Amex’s personal and business charge cards (think the Green, Gold, and Platinum) aren’t included in either of the above limits.

Thanks so much. That was my understanding from what I was reading elsewhere but I figure it's good to make sure. This board is a wealth of information.

 

[Teal03]

if your gonna ride money on a card, i wouldnt suggest churning. Also, what is your credit score like? When u said Finally closed, was it closed with a balance or closed with no balance.
You should find a card that do not charge a buttload of interest. Most of these rewards cards are upwards of 15% or more... a card you can consider is a Chase Slate card. i think its like 0% interest rate for 15 months. I think that might be more suited for you before u delve into the churning world.

Actually closing the card with a balance jumped my credit up surprisingly. I really thought it was going to tank me but it didn’t. I was in the early 600s at the beginning of the year and now I’m in the early 700s.

Well technically I kind of was churning the VS Card. So yeah I’ve seen the ugliness of churning and have learned from it. I could’ve went on a Disney Cruise with the interest I’ve paid for both my cards in the past 3 years.

I’ll look into the Chase card you suggested. Thank you!

 

[Teal03]

Not sure what type of settlement it is your waiting on...but from experience...we had a lawsuit from a car accident take over 3 years to settle..our lawyer thought it would take a year....insurance companies don’t like to pay even when it’s 100% their clients fault....so really wouldn’t advise getting any credit card unless you know everything is settled and your just waiting for the check

Yeah it’s been almost 3 years and I just got notified that I’ll receive my settlement in December. These things shouldn’t take so long.

 

[kmc8826]

@RedGhost this is the thread to post on for which card to get and to use for your DVC direct purchase. Best group ever!

 

[hsmamato2]

Just to reiterate please.... One of my young friends that I'm assisting to fix her credit/get decent cards has a solid question- She was put on her errant Mom's 3 cc's,1 11 YO Discover that's mostly untouched, a 5 YO Cap1 that's been a mess of unpaid messes(and thus lowered young friends score) and a 1 YO Amex that is still being used. She REALLY wants to get herself off those accts-(she just got her own FU!) so her Moms scores don't drag hers any further.... can she call the Amex and Cap1 herself for removal? or does her MOm need to do this(I think she will) and also should she at least try to get those off her credit reports via dispute after calling?

 

[Judique]

To add to this, DPs seem to suggest the FN certs from the Amex SPG cards post 6-8 weeks after the AF posts, which makes it difficult, if not impossible, to wait for the FN to post then cancel in time for a full refund of the AF, and Amex doesn’t prorate refunds after the 30 days.

I'm hoping once AmEx gets the hang of issuing the nights it doesn't take as long next year. (can dream, can't I )

This is what I'm thinking. The first year is the hardest with all the changes. Chase already had their free nights in place.

Seems like Chase and Amex are at polar opposite on rewards: Chase gets the free nights out day of, while Amex gets the bonus out pronto. Chase takes forever to post earned bonuses.

I'm hoping Amex gets the nights going on schedule. Will make my planning easier.

I will be 'earning' free nights in March, June, July, August and December. The plan will be to spend them in January and February. The Dec night is a Chase night, my 25K night, so I expect to have that one for this January's trip and can use it near the end for my second Florida trip. As soon as the 25K night posts, I will upgrade and hopefully get the 50K bonus before the year ends.

Then I will have 4 of the 35K nights and one 50K night. The 50K night may join my OC summer lineup or not, depending on what my 2020 plans are - I don't get my first one until 2019. Which reminds me, I need to go look and see if my annual free Hyatt night has arrived so I can book for next summer!

 

[Alexle2007]

Besides staying a night with Hilton or getting one of their CCs, is there any way to keep the points active? I got a nasty gram from them that my points are about to expire.

 

[Judique]

Just checked my Southwest credit card account and I can see my 6000 points on the Chase side, but they haven't updated to Southwest yet.

This is the card I'm considering closing but will keep a little longer if I get a retention offer when I call. I've had it about 5 years and use the points for the kids. Now, the kids can pay their own way - but sometimes free helps make decisions easier.

 

[hsmamato2]

Anyone have a link that lists the various major cc's and their points back? I'm trying to get my cards in spend order and find myself forgetting details of what should be used where....has anyone out there found such a list?

 

[Judique]

Besides staying a night with Hilton or getting one of their CCs, is there any way to keep the points active? I got a nasty gram from them that my points are about to expire.

Ughh! I've lost Hilton Honors points twice because of not earning or using. I think buying some points usually does it, but I'm no Hilton expert. I presently have zero HH points.

 

[Alexle2007]

Ughh! I've lost Hilton Honors points twice because of not earning or using. I think buying some points usually does it, but I'm no Hilton expert. I presently have zero HH points.

Thanks! I was hoping for a shopping portal or something? I think DH will kill me if I get the Hilton Biz...since I just opened the Gold and the Plat and am still trying to complete the spend on the Plat. It did end up being an even swap since I closed my SW Premier and Plus.

 

[Lain]

Besides staying a night with Hilton or getting one of their CCs, is there any way to keep the points active? I got a nasty gram from them that my points are about to expire.

If/when your MR points post, you could transfer MR>HH. The usual conversion rate is 1 MR>2 HH in 1,000 MR increments. However, Amex is running a targeted transfer bonus to Hilton now through 11/30/18: either 1 MR>2.6 HH or 1 MR>3 HH. MR to HH isn't usually the best conversion, but with the 30-50% transfer bonus the ratio is pretty decent.

You could also use some of your HH points to shop on Amazon (not the best redemption), buy points, or take surveys.

 

[Lain]

Thanks! I was hoping for a shopping portal or something? I think DH will kill me if I get the Hilton Biz...since I just opened the Gold and the Plat and am still trying to complete the spend on the Plat. It did end up being an even swap since I closed my SW Premier and Plus.

The Hilton shopping portal shut down last month.

 

[Judique]

My Hyatt night is sitting and waiting to be used!

Love these nights! The room is $340 plus tax; the annual fee is $75. There's value there, wouldn't you say?