minkyboodle

I've read the various forums (here and a few others) and have a basic plan to maximize my upcoming lasik surgery re:rewards for it, I don't think I fit the 5/24 but here is an overview of my current situation
I have a score off 766 on Equifax and Transunion and 769 on Experian
Current Cards (I pay the balance entirely for these cards monthly)
Citibank Costco - keep in drawer rarely use, opened 9/2014
Citibank Double Cash - This is a card that was originally an AAAdvantage World card I opened for the sign up bonus. I use occasionally to keep points active for AA. Account opened 9/2015, downgraded to no-fee freedom 01/2017
Chase Sapphire Preferred - This is my primary card that I use for everything at the moment. Account opened 12/2016
Barclays Aviator - This is a card I was offered on a flight that got a sign up bonus for paying a years fee. I have just recently converted it to a no-fee standard Aviator card from a Red. Account opened 5/2017, downgraded to no-fee aviator 2/2018
Rewards Balances
AAdvantage, 27,773 Chase UR, 79,116

I am scheduled for Lasik, which will run $4100 on the 23rd of this month. I thought of getting rewards from this late so I'm have to improvise thanks to financially stable parents who trust me for a loan (I have the liquid funds to do it all at once, but I think this plan is better for rewards for me and will give them some as well). I would like to do the following:
1. Downgrade my current Sapphire to a no-fee Chase Ultimate Rewards.
2. My parents would put the surgery on their Citibank Double Cash card (a balance they pay every month). They would earn 2 % of the $4100 ($82 bucks of free money).
3. Get a Chase Reserve Card. I was initially put off by the fee, now that I travel more I can use that $300 dollar reimbursement easy.
4. Pay $1000 to my parents through Paypal with my current AAdvantage Aviator no fee:
When downgrading the aviator card, I was offered 5000 AAdvantage miles if I spend $1000 in 90 days. That will put me over the 30,000 miles it usually takes to fly to my Caribbean destinations.
5. Pay remaining $3100 to my parents using my new Chase Reserve card to meet a large portion of the $4000 dollar spending requirement and earn 50,000 Chase UR, I will be able to use the card in my everyday purchases to make up the rest of the spending requirement.
6. For the future use both the Chase Ultimate Rewards and the Chase Reserve Card, depending on which accrues the greatest rewards at the time.

The questions I had are:
1.Will payments made to my parents through Paypal from my credit card count as spending for meeting the bonus requirements?
2.Will I still qualify for the Chase Reserve sign up bonus, provided I have downgraded from Sapphire to Ultimate Rewards?
-Do you advise I wait a period of time after I have downgraded the Saphire to Ultimate Rewards before applying for the Chase Reserve?
4.Finally, when the Equifax garbage hit I saw it as a sign that I should just freeze all 4 of my credit accounts (I figured if they hadn't got me, they would eventually. Better safe than sorry). So I will need to unfreeze an account when applying for the Chase Reserve. I have read that the bureau I need to unfreeze for North Carolina is Experian. Sound right?

I have lurked and read here and I think this is a sound plan. Thanks to everyone for all the wonderful information they have shared. I never would have been able to figure this out without so many great posters. I hate to do the question thing, but if a more experienced Rewards person says, "Yeah that looks good" I will certainly feel better Thanks again!
Scott

philemer

If you pay someone via Paypal, using a credit card, there will be a 3% fee!

minkyboodle

Thanks for the reply!

So that's a hit of 93 bucks I would take with my current . Still think it would be worth it for the bonus miles. Anyone know of a way to pay someone via credit card that would satisfy purchase and not incur a fee?
Thanks again!

HawkeyeFlyer

How many miles are you getting for this $93 hit in fees. Rarely is that a good trade

minkyboodle

50,000 is the bonus amount, plus the parents will get $72 in Cash rewards

HawkeyeFlyer

Yeah but you could get the bonus from normal spend and without going through this

Namaste1

OP, if you're still thinking about using Paypal to pay back some of the money you borrowed from your parents, you can downgrade CSP to CF and pay up to $1500 via Paypal in April. You'll earn 5% for that transaction which will offset some of the paypal fees. You won't get sign up bonus for CSR since you applied for a CSP in December 2016 due to Chase restrictions on Sapphire (one sapphire bonus per 24 months).

minkyboodle

Thanks for the replies guys, some questions

Namasste1: Am I understanding you that, if I downgrade the Sapphire, then apply for a new CSR reserve I will not be able to earn the rewards on the CSR because of a restriction for on 1 Sapphire bunus per 24 months? I was not aware of this restriction, just the 5/24 rule. So as far is this rule is concerned, CSR reward are classified as sapphire rewards and can only happen once every 24 months? If this is the case the whole plan for maximizing rewards is a no go. So if this is the case I can

1. Downgrade the Sapphire to CF.
2. On day of operation, earn the 5000 AA miles by paying 1000 of operation with downgraded Aviator CC
3. Parents pay rest and get Citibank double cash rewards
4. In April pay 1500 through paypal on CF to earn 5 percent.
5. Pay rents of rest through normal bank interest free
6. Wait til December/January to get CSR, I suppose I could get now but not being able to get bonus kind of hurts it for me

When I get the CSR, I could earn bonus through regular spending. In the meantime I could just use the UF card and my rewards will remain active.

OR

Should I scrap the whole thing, since without bonus it doesn't seem to be such a great idea. Just put 1000 on the aviator and the rest on my Chase Sapphire and keep the card till October and downgrade then before that fee comes up?

Thanks again for the replies guys!

Scott

jjmiller69

[QUOTE=minkyboodle;29542334]Thanks for the replies guys, some questions

Namasste1: Am I understanding you that, if I downgrade the Sapphire, then apply for a new CSR reserve I will not be able to earn the rewards on the CSR because of a restriction for on 1 Sapphire bunus per 24 months? I was not aware of this restriction, just the 5/24 rule. So as far is this rule is concerned, CSR reward are classified as sapphire rewards and can only happen once every 24 months? If this is the case the whole plan for maximizing rewards is a no go. So if this is the case I can

This rule has been around for a while for CSP and CSR. You have to be careful because it's 24 months after the bonus is received. So it could be as much as 27 months after application.

minkyboodle

OK thanks guys! I will be sure to confirm when my bonus was received that is a good point!

Namaste1

Yes, that's correct.

https://www.flyertalk.com/forum/chas...hire-card.html

minkyboodle

Thanks again guys for the information. So here are my dates and plan to transition to a combination of a Chase Ultimate Rewards and a Chase Reserve card. I will be doing this next year as I will need to wait for the 24 months .

First getting away from paying the annual fee for the CSP .
Chase specified that the fee was charged on my January statement. So I set a reminder to change the CSP to an fee free Chase Ultimate Rewards in the first week of December 2018 This would avoid the fee correct?

Chase indicated that my CSP bonus was awarded on my February 19th 2017 statement . I plan on applying for a new Chase Reserve on 3/01/2019 .With no more CSP and 24 months past since my CSP bonus (2/19/2017) I should earn the sign up bonus for the Chase Reserve correct?

Thanks again for all the help!
Scott

philemer

First, there is no card called "Chase Ultimate Rewards." There is a no-fee Chase Sapphire, Chase Freedom and Chase Freedom Unlimited. I'd downgrade to the Freedom (aka F) or the Freedom Unlimited (aka FU).

Second, because of the "one Sapphire" rule you can apply for the CSR next March. Good luck.

minkyboodle

Thanks I appreciate the help!