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PSA -Sapphire Reserve with 100K points bonus, LAST CHANCE is Saturday 3/11 at branch...

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Svnla

Lifer
Nov 10, 2003
16,576
768
126
A reminder for anyone that wants to save your points or cash or miles or whatever to use it later. Don't forget that the CC companies can close your CC at anytime for any reason (you could be the best paying on time client for years and such) and then you could lose ALL of your accumulate points/cash/etc. You could file a dispute but it will be an uphill battle.

Example one out of many - https://www.flyertalk.com/forum/manufactured-spending/2002127-2020-shutdown-thread.html

In short, use it while you still can. Don't let them pile up too high.
 
Nov 8, 2012
16,182
2,849
126
A reminder for anyone that wants to save your points or cash or whatever to use it later. Don't forget that the CC companies can close your CC at anytime for any reason and then you could lose ALL of your accumulate points/cash/etc. You could file a dispute but it will be an uphill battle.

Example one out of many - https://www.flyertalk.com/forum/manufactured-spending/2002127-2020-shutdown-thread.html
Yeah... but.... manufactured spending in general is a way to really piss off the credit hornet nest.
 
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Svnla

Lifer
Nov 10, 2003
16,576
768
126
Yeah... but.... manufactured spending in general is a way to really piss off the credit hornet nest.
Many were but some weren't. What I was trying to say is points, miles, cashback, anything from the credit cards companies are not really "yours" until you use or cash them out. Don't blindly stack up and save them for rainy day and thinking those are as safe and guaranteed as your savings account at the bank.
 

manly

Diamond Member
Jan 25, 2000
8,198
125
106
Is anyone else who was saving up points going to be doing statement credits instead? I have so many points ... a statement credit now vs an awesome trip later at potentially similar value... shrug
A statement credit will always guarantee you relatively poor value for your points. The Points Guy values a CSR point to be worth 2 cents; I assume this is if you know when/how to maximize the value of your redemption. More commonly, if you redeem your points through the Chase portal, you're getting a 50% kicker. Realistically you're at almost no risk of Chase closing your account if you don't engage in shady activities, and use your card regularly. As rcpratt suggested, keep the points hoard as an "emergency fund" and plan a vacation next year or so.

EDIT:
https://slickdeals.net/f/14070890-save-20-on-apple-products-with-chase-reward-points-e-g-iphone-se

If you need to buy an unlocked iPhone SE anyway, using your CSR accumulated points is a decent way of doing it. 20% off any Apple product that isn't commonly discounted isn't a bad deal.
 
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zinfamous

No Lifer
Jul 12, 2006
101,315
15,480
136
Ah fuck, I didn't even realize Freedom's category for Q2 was groceries. That does kind of water down the value in adding that to CSR.

I'm probably just going to be savings my points unless I have a need for cash for some reason. More fun to spend them on travel, and you can get more than 1.5x value sometimes by transferring points. But it's nice that they are giving us flexibility by increasing the rate on statement credits.
well, the one added thing for CSR is that it does give you the 3x points on groceries/gas after you reach your annual $300 travel credit. So...if you've already hit that, and the quarterly limit on your Freedom card, then you can keep getting 3x points using the Preferred card.
 

manlymatt83

Diamond Member
Oct 14, 2005
9,948
21
81
A statement credit will always guarantee you relatively poor value for your points. The Points Guy values a CSR point to be worth 2 cents; I assume this is if you know when/how to maximize the value of your redemption. More commonly, if you redeem your points through the Chase portal, you're getting a 50% kicker. Realistically you're at almost no risk of Chase closing your account if you don't engage in shady activities, and use your card regularly. As rcpratt suggested, keep the points hoard as an "emergency fund" and plan a vacation next year or so.

EDIT:
https://slickdeals.net/f/14070890-save-20-on-apple-products-with-chase-reward-points-e-g-iphone-se

If you need to buy an unlocked iPhone SE anyway, using your CSR accumulated points is a decent way of doing it. 20% off any Apple product that isn't commonly discounted isn't a bad deal.
I agree with you normally, but with the 1.5x per point instead of the 1x per point, it’s competitive when you factor in time value of money, etc.
 
Nov 8, 2012
16,182
2,849
126
By the way... community question here...

But I honestly think that churning is really sucking right now (and over the last year). I haven't seen much for enticing offers to get to signup for new cards. I'm at the point where I'm now well under 5/24 for once.
 

TXHokie

Platinum Member
Nov 16, 1999
2,462
107
106
I agree with you normally, but with the 1.5x per point instead of the 1x per point, it’s competitive when you factor in time value of money, etc.
Decided to burn a big chunk of my points on some Apple products as graduation gifts as there’s a 20% bonus which makes the points worth 1.2x on Apple site. Was going to use those points on summer travel but I don’t see any travel happening in 2020.
 

rcpratt

Lifer
Jul 2, 2009
10,427
105
116
Decided to burn a big chunk of my points on some Apple products as graduation gifts as there’s a 20% bonus which makes the points worth 1.2x on Apple site. Was going to use those points on summer travel but I don’t see any travel happening in 2020.
Maybe I’m missing something. Wouldn’t it have been better to pay for those with cash and then redeem your points for statement credits with the new Pay Yourself Back system that starts tomorrow and provides 1.5x points value? I assume most people eat, either by shopping at grocery stores or at restaurants, so almost everyone should be able to get that redemption value.
 

TXHokie

Platinum Member
Nov 16, 1999
2,462
107
106
Maybe I’m missing something. Wouldn’t it have been better to pay for those with cash and then redeem your points for statement credits with the new Pay Yourself Back system that starts tomorrow and provides 1.5x points value? I assume most people eat, either by shopping at grocery stores or at restaurants, so almost everyone should be able to get that redemption value.
You’re right. Would be better if you get that new 1.5x credit. Just instant gratification on my part.
 

manly

Diamond Member
Jan 25, 2000
8,198
125
106
I agree with you normally, but with the 1.5x per point instead of the 1x per point, it’s competitive when you factor in time value of money, etc.
Oh I didn't realize they were allowing you to redeem at 1.5x for a limited time on grocery, restaurants, and home improvement. Unless you have a highly specific reason to hoard all points for a travel itinerary, you should definitely take them up on the offer for 3 months.

I was speaking in general terms, i.e. after September.
 

ElFenix

Elite Member
Super Moderator
Mar 20, 2000
100,181
3,315
126
Why...why wouldn't you just use them? Free is better than cheap.
it's not free. there's an opportunity cost - it ain't worth the 75,000 points when airfare is $400. and in the future i might not be so flexible on where to go.

that said, since i ain't going anywhere for a while, and since points no longer expire, the united card ain't worth its annual fee and i'll cancel it next month. i'll be eligible for the sign up bonus next time i can go anywhere.

also need to use citi points somehow.

maxing out freedom and CSR at grocery stores in the next month is gonna be a lot of dollars tied up in HEB gift cards.
 

Exterous

Super Moderator
Jun 20, 2006
18,653
1,639
126
By the way... community question here...

But I honestly think that churning is really sucking right now (and over the last year). I haven't seen much for enticing offers to get to signup for new cards. I'm at the point where I'm now well under 5/24 for once.
Yeah they dried up pretty fast. There are still some OK statement credit ($500+) ones out there for businesses via BoA, Chase, Amex and some others. Travel? Not nearly as much as previously normal
 

deadlyapp

Diamond Member
Apr 25, 2004
5,518
218
106
Damn, thanks for whoever mentioned the new pay yourself perk on the CSR card. I was sitting on around 200k points that I've been unable to really use since I opened a business and COVID. Paired up with the 5% bonus on grocery stores with the CSR, I think I'll end up coming out pretty nice.

It's starting to get hard to balance all my grocery spending between rotating 5% categories on Discover and Chase Free, the addition of 5% on CSR, and the 6% I get on my amex preferred.
 

rcpratt

Lifer
Jul 2, 2009
10,427
105
116
Wasn't sure where to post this, but wanted to share a good AmEx offer.

AmEx is offering a promotion when you finance or refinance a mortgage with better.com. You get a $2,500 AmEx statement credit as well as waived appraisal fees (up to $550 value). This is labeled as a targeted offer, but you can find the offer online (link), and there are lots of reports of people having success even when they weren't targeted.

I did receive an email for one of my AmEx Delta cards and applied for the promo. I was looking at refinancing (rates are really low right now), and I had already been looking at better.com before I found the promo. Their rates were very competitive. We'll basically be walking away from this refinance paying nothing in closing costs (when considering the statement credit) and getting a nice discount to our mortgage payment each month. Their website is really awesome...everything is very seamless and integrated, and they move quick. I put an application in on Saturday, locked the rate on Sunday, was pre-approved yesterday (Tuesday), and appraisal scheduled and everything moving forward.

Would recommend giving it a shot if you're in the business for a refinance. A few months left on this one -- apply by 7/25 and close by 10/28. I'll let y'all know how mine goes.
Closed today, 20 days after our initial application. Everything went great. We paid about $1,050 in fees, so once we get the AmEx rebate we'll come out ahead almost $1,500. Not bad for an opportunity to refinance at a lower rate and save a couple hundred dollars a month.
 

Mermaidman

Diamond Member
Sep 4, 2003
7,872
9
81
Now that the grocery store bonus is over, it is harder to decide on using "Pay Yourself Back." E.g. Do I use my Lowe's store card that gives a 5% discount on purchases, or CSP at 1% earn, but free after PYB applied to home improvement purchases?
 

manly

Diamond Member
Jan 25, 2000
8,198
125
106
Now that the grocery store bonus is over, it is harder to decide on using "Pay Yourself Back." E.g. Do I use my Lowe's store card that gives a 5% discount on purchases, or CSP at 1% earn, but free after PYB applied to home improvement purchases?
5% > 1.5% unless you're like me and those CUR points will sit there for years without redemption.
 

brianmanahan

Lifer
Sep 2, 2006
19,593
1,896
126
5% > 1.5% unless you're like me and those CUR points will sit there for years without redemption.
ugh same thing here too, i have like 160k points to spend

and now i can't travel for who knows how long!

i should at least cancel the card before getting charged the fee next year

when i was traveling, the 300$ rebate plus the primary rental car insurance was more than covering the annual fee

but i'm probably going to be sitting in my apartment for the next 2-3 years so it doesn't make a lot of sense anymore
 

deadlyapp

Diamond Member
Apr 25, 2004
5,518
218
106
I've been using the heck out of the pay yourself back for tools and restaurants. Found out it works at harbor freight so went on a bit of a bonanza there. Honestly used up most of my points though buying 1500 in home depot gift cards from grocery store while they did the 5% back so I could double up rewards.
 

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