Jan 2, 2017, 9:16 am
Last edit by: yugi
Ways to get high rewards or bonus on credit card spending:
1. sign-on bonus, miles, UR or MR points, free nights and cash rewards
2. on-going rewards, points or cashback
3. spending bonus for extra points/$ or status, like spending $10,000 to get extra 20k points etc.
Cards with large spending bonus: (alphabetical)
AmEx Delta Skymiles Gold: $25,000 MQD waived for elite status
AmEx HH Ascend: $40,000 to Diamond
Barclay Aviator Red: $25,000 for $3,000 EQD
BofA Merrill +: $50,000 for additional $200 travel credit
Chase Ritz Carlton: $10,000 to renew Gold status. Subject to change from 8/1/2018
Chase United MileagePlus Explorer: $25,000 for 10,000 United miles
A lot more to list...
Cards that earn better than 1 airline mile (or points convertible 1:1 to airline miles) per dollar: (alphabetical)
Amex Blue Business Plus - 2x MRs on up to $50k per year. No AF, FTF.
Amex Blue for Business - 1.3x MRs (Another card needed in order to transfer, such as Amex ED/EDP/PRG/BGR/Plat etc). No AF, FTF. Discontinued, replaced by BBP.
Amex Business Platinum - 1.5x for charges over $5,000 up to 1M extra points ($2M spend) AF $450, no FTF. Many other perks.
Amex EveryDay - 1.2x if you make 20+ charges per cycle. No AF, FTF.
Amex EveryDay Preferred - 1.5x if you make 30+ charges per cycle. AF $95, FTF.
Bank of America Virgin Atlantic MasterCard - 1.5x VS miles, 2x if you spend $15k per year, 2.1x if you spend $25k per year. AF $90, no FTF.
Bank of America Air France KLM Mastercard - 1.5x AF miles. AF $89, no FTF.
Barclaycard Arrival Premier - 1.43x for all partners except JAL, AC (1.18x). You will get 2.14x on all partners except JAL, AC (1.76x), if you spend $15k or $25k per year. AF $150, FYF, no FTF. Discontinued.
Capital One Venture X Visa - 2x on all partners, except Accor and EVA. AF $395, no FTF, many other perks.
Capital One Spark Miles Business Visa - 2x on all partners, except Accor and EVA. AF $95, FYF, no FTF.
Capital One Venture Visa - 2x on all partners, except Accor and EVA. AF $95, FYF, no FTF.
Capital One Venture One Visa - 1.25x on all partners, except Accor and EVA. no AF, no FTF.
Capital One Spark Miles Select Business Visa - 1.5x on all partners, except Accor and EVA. No AF, no FTF.
Chase Freedom Unlimited Visa - 1.5x URs (Another card needed in order to transfer, such as CSR/CSP/Ink Plus/Ink Bold/Ink Preferred). No AF, FTF.
Chase Ink Unlimited Business Visa - 1.5x URs, Same as Freedom Unlimited
Citi Double Cash MC - 2x TYP. You need a premium Citi card, (Premier, Prestige or Chairman) to transfer to partners other than JetBlue at 1:1 ratio. No AF, FTF.
Cards that earn hotel points
Amex Hilton Honors - 3x HH points, no AF, no FTF
Amex Hilton Honors Surpass - 3x HH points, AF $95, no FTF, some perks
Amex Hilton Honors Business - 3x HH points, AF $95, no FTF, some perks
Amex Hilton Honors Aspire - 3x HH points, AF $450, no FTF, lots of perks.
Amex Bonvoy - 2x Marriott points. AF $95, FYF, no FTF. Discontinued.
Amex Bonvoy Business - same as Amex Bonvoy. AF $125, no FTF.
Amex Bonvoy Brilliant - same as Amex Bonvoy. AF $450
Barclaycard Choice Privileges Visa - 2x on everything. No AF, FTF.
Barclaycard Wyndham Rewards Visa - 2x (grandfathered versions 2x on everything). AF $69/$0, FTF.
Chase Bonvoy Boundless Visa - same as Amex Bonvoy.
Chase IHG Traveler MC - 2x on everything. No AF, no FTF.
Chase IHG Premier/Premier Business MC - 3x on everything. AF $99, no FTF.
Chase Ritz-Carlton Visa Infinite - same as Amex Bonvoy. AF $450, no FTF. Discontinued, but can be obtained via PC from another Chase Bonvoy card.
FNBO Best Western Rewards Premium MC - 2x BW points. AF $59, no FTF
FNBO Best Western Rewards MC - 2x BW points. No AF, no FTF
2%+ Cashback Cards: (by % amount)
US Bank Altitude Reserve Visa - 4.5% towards travel (cashout possible), if you use Android Pay, Samsung Pay, Apple Pay or LG Pay for in-person, in-app or online purchases. AF $400, no FTF, many other perks.
Barclaycard Priceline Rewards Visa (grandfathered 2x/5x version) - 3.33% if redeemed against Priceline or travel purchases, 2% if redeemed for everything else. No AF, no FTF.
AOD CU Visa Signature - 3% on everything. No AF, no FTF. Discontinued.
Synchrony Paypal Cashback Mastercard - 3% if paid with Paypal, 2% everywhere else, no AF, FTF.
Barclaycard Arrival Premier MC - 3% if you spend exactly $15k or $25k, 2%, if you spend less than $15k. AF $150, FYF, no FTF, some perks. Discontinued.
Bank of America Travel Rewards Visa (with Platinum (Honors) Preferred Rewards) - 2.25/2.625%. No AF, no FTF.
Bank of America Premium Rewards Visa (with Platinum (Honors) Preferred Rewards) - 2.25/2.625%. AF $95, no FTF, some perks.
Bank of America Premium Rewards Elite Visa (with Platinum (Honors) Preferred Rewards) - 2.25/2.625%. AF $550, no FTF, many other perks.
USAA Limitless Cashback Rewards Visa - 2.5% (must be USAA member, with $1k direct deposit per month). no AF. Discontinued.
Alliant Cashback Visa Signature - 2.5% up to $10k per cycle, if you have $1k on your checking account. No AF, no FTF.
Barclaycard Arrival Plus MasterCard - 2.1% if you redeem for travel purchases. AF $89, no FTF. Discontinued.
Discover it Miles - 3% (first year only, 1.5% after that). No AF, no FTF.
Exactly 2% Cashback Cards: (alphabetical)
Amex Blue Business Cash - 2% on up to $50k per year. No AF, FTF.
BBVA Compass Rewards Visa - 2%, if you receive $1000 in direct deposits per month to checking account. No AF.
Blispay Visa - 2%. No AF.
Citi Double Cash MasterCard - 2%. No AF, FTF.
Capital One Spark Cash Business Visa - 2%. AF $95, FYF, no FTF.
Capital One Spark Miles Business Visa - 2% if redeemed for travel. AF $95, FYF, no FTF.
Capital One Venture Visa - 2% if you redeem for travel purchases. AF $95, FYF, no FTF.
Capital One Venture X Visa - 2% if you redeem for travel purchases. AF $395, no FTF, many other perks.
Fidelity Rewards Visa - 2%. No AF.
PenFed Power Cash Rewards Visa (with Honors Advantage) - 2%. No AF, no FTF.
PNC Premier Traveler Visa - 2% if you redeem for travel purchases. AF $85, FYF, no FTF.
State Department Federal CU Premium Cashback+ Visa - 2%, no AF, no FTF.
Synchrony Paypal Cashback MC - 2% for non-PayPal purchases, no AF, FTF.
Too many to list.
1. sign-on bonus, miles, UR or MR points, free nights and cash rewards
2. on-going rewards, points or cashback
3. spending bonus for extra points/$ or status, like spending $10,000 to get extra 20k points etc.
Cards with large spending bonus: (alphabetical)
AmEx Delta Skymiles Gold: $25,000 MQD waived for elite status
AmEx HH Ascend: $40,000 to Diamond
Barclay Aviator Red: $25,000 for $3,000 EQD
BofA Merrill +: $50,000 for additional $200 travel credit
Chase Ritz Carlton: $10,000 to renew Gold status. Subject to change from 8/1/2018
Chase United MileagePlus Explorer: $25,000 for 10,000 United miles
A lot more to list...
Cards that earn better than 1 airline mile (or points convertible 1:1 to airline miles) per dollar: (alphabetical)
Amex Blue Business Plus - 2x MRs on up to $50k per year. No AF, FTF.
Amex Blue for Business - 1.3x MRs (Another card needed in order to transfer, such as Amex ED/EDP/PRG/BGR/Plat etc). No AF, FTF. Discontinued, replaced by BBP.
Amex Business Platinum - 1.5x for charges over $5,000 up to 1M extra points ($2M spend) AF $450, no FTF. Many other perks.
Amex EveryDay - 1.2x if you make 20+ charges per cycle. No AF, FTF.
Amex EveryDay Preferred - 1.5x if you make 30+ charges per cycle. AF $95, FTF.
Bank of America Virgin Atlantic MasterCard - 1.5x VS miles, 2x if you spend $15k per year, 2.1x if you spend $25k per year. AF $90, no FTF.
Bank of America Air France KLM Mastercard - 1.5x AF miles. AF $89, no FTF.
Barclaycard Arrival Premier - 1.43x for all partners except JAL, AC (1.18x). You will get 2.14x on all partners except JAL, AC (1.76x), if you spend $15k or $25k per year. AF $150, FYF, no FTF. Discontinued.
Capital One Venture X Visa - 2x on all partners, except Accor and EVA. AF $395, no FTF, many other perks.
Capital One Spark Miles Business Visa - 2x on all partners, except Accor and EVA. AF $95, FYF, no FTF.
Capital One Venture Visa - 2x on all partners, except Accor and EVA. AF $95, FYF, no FTF.
Capital One Venture One Visa - 1.25x on all partners, except Accor and EVA. no AF, no FTF.
Capital One Spark Miles Select Business Visa - 1.5x on all partners, except Accor and EVA. No AF, no FTF.
Chase Freedom Unlimited Visa - 1.5x URs (Another card needed in order to transfer, such as CSR/CSP/Ink Plus/Ink Bold/Ink Preferred). No AF, FTF.
Chase Ink Unlimited Business Visa - 1.5x URs, Same as Freedom Unlimited
Citi Double Cash MC - 2x TYP. You need a premium Citi card, (Premier, Prestige or Chairman) to transfer to partners other than JetBlue at 1:1 ratio. No AF, FTF.
Cards that earn hotel points
Amex Hilton Honors - 3x HH points, no AF, no FTF
Amex Hilton Honors Surpass - 3x HH points, AF $95, no FTF, some perks
Amex Hilton Honors Business - 3x HH points, AF $95, no FTF, some perks
Amex Hilton Honors Aspire - 3x HH points, AF $450, no FTF, lots of perks.
Amex Bonvoy - 2x Marriott points. AF $95, FYF, no FTF. Discontinued.
Amex Bonvoy Business - same as Amex Bonvoy. AF $125, no FTF.
Amex Bonvoy Brilliant - same as Amex Bonvoy. AF $450
Barclaycard Choice Privileges Visa - 2x on everything. No AF, FTF.
Barclaycard Wyndham Rewards Visa - 2x (grandfathered versions 2x on everything). AF $69/$0, FTF.
Chase Bonvoy Boundless Visa - same as Amex Bonvoy.
Chase IHG Traveler MC - 2x on everything. No AF, no FTF.
Chase IHG Premier/Premier Business MC - 3x on everything. AF $99, no FTF.
Chase Ritz-Carlton Visa Infinite - same as Amex Bonvoy. AF $450, no FTF. Discontinued, but can be obtained via PC from another Chase Bonvoy card.
FNBO Best Western Rewards Premium MC - 2x BW points. AF $59, no FTF
FNBO Best Western Rewards MC - 2x BW points. No AF, no FTF
2%+ Cashback Cards: (by % amount)
US Bank Altitude Reserve Visa - 4.5% towards travel (cashout possible), if you use Android Pay, Samsung Pay, Apple Pay or LG Pay for in-person, in-app or online purchases. AF $400, no FTF, many other perks.
Barclaycard Priceline Rewards Visa (grandfathered 2x/5x version) - 3.33% if redeemed against Priceline or travel purchases, 2% if redeemed for everything else. No AF, no FTF.
AOD CU Visa Signature - 3% on everything. No AF, no FTF. Discontinued.
Synchrony Paypal Cashback Mastercard - 3% if paid with Paypal, 2% everywhere else, no AF, FTF.
Barclaycard Arrival Premier MC - 3% if you spend exactly $15k or $25k, 2%, if you spend less than $15k. AF $150, FYF, no FTF, some perks. Discontinued.
Bank of America Travel Rewards Visa (with Platinum (Honors) Preferred Rewards) - 2.25/2.625%. No AF, no FTF.
Bank of America Premium Rewards Visa (with Platinum (Honors) Preferred Rewards) - 2.25/2.625%. AF $95, no FTF, some perks.
Bank of America Premium Rewards Elite Visa (with Platinum (Honors) Preferred Rewards) - 2.25/2.625%. AF $550, no FTF, many other perks.
USAA Limitless Cashback Rewards Visa - 2.5% (must be USAA member, with $1k direct deposit per month). no AF. Discontinued.
Alliant Cashback Visa Signature - 2.5% up to $10k per cycle, if you have $1k on your checking account. No AF, no FTF.
Barclaycard Arrival Plus MasterCard - 2.1% if you redeem for travel purchases. AF $89, no FTF. Discontinued.
Discover it Miles - 3% (first year only, 1.5% after that). No AF, no FTF.
Exactly 2% Cashback Cards: (alphabetical)
Amex Blue Business Cash - 2% on up to $50k per year. No AF, FTF.
BBVA Compass Rewards Visa - 2%, if you receive $1000 in direct deposits per month to checking account. No AF.
Blispay Visa - 2%. No AF.
Citi Double Cash MasterCard - 2%. No AF, FTF.
Capital One Spark Cash Business Visa - 2%. AF $95, FYF, no FTF.
Capital One Spark Miles Business Visa - 2% if redeemed for travel. AF $95, FYF, no FTF.
Capital One Venture Visa - 2% if you redeem for travel purchases. AF $95, FYF, no FTF.
Capital One Venture X Visa - 2% if you redeem for travel purchases. AF $395, no FTF, many other perks.
Fidelity Rewards Visa - 2%. No AF.
PenFed Power Cash Rewards Visa (with Honors Advantage) - 2%. No AF, no FTF.
PNC Premier Traveler Visa - 2% if you redeem for travel purchases. AF $85, FYF, no FTF.
State Department Federal CU Premium Cashback+ Visa - 2%, no AF, no FTF.
Synchrony Paypal Cashback MC - 2% for non-PayPal purchases, no AF, FTF.
Too many to list.
Which card(s) to use for high spend or large purchases? [Consolidated]
Nov 21, 2015, 1:12 pm
#181
Join Date: Aug 2013
Posts: 1,710
When did you do it? With the recent BA devaluations on spend/earn and YQ fees the companion ticket makes a lot less sense than it once did though it may still make sense for F.
Nov 22, 2015, 4:52 am
#183
Join Date: Jul 2011
Location: Sunny AZ
Programs: HH Diamond, Sixt Platinum, IHG Spire Ambassador, Marriott/SPG Gold .....
Posts: 3,214
Quote:
Originally Posted by blitzen
When do you get the companion ticket on the BA card? Saved me a lot of miles first class to India
When did you do it? With the recent BA devaluations on spend/earn and YQ fees the companion ticket makes a lot less sense than it once did though it may still make sense for F.
Originally Posted by blitzen
When do you get the companion ticket on the BA card? Saved me a lot of miles first class to India
When did you do it? With the recent BA devaluations on spend/earn and YQ fees the companion ticket makes a lot less sense than it once did though it may still make sense for F.
Did it before the devaluation but as you said it was a first class ticket. But that depends on the future plans, avios points banked, if you travel "off season" etc.
even devaluation it would have made sense to me as it meant first instead of business
Nov 22, 2015, 7:02 pm
#184
Join Date: Apr 2009
Programs: United Platinum, Marriott Platinum, IHG Plat, Hilton Diamond
Posts: 221
Unfortunately that's not an option as I mentioned in my earlier post. We are keeping our credit reports pristine for a couple of big lending transactions in next 4-6 months. UA bonus miles and SPG are both good options. Am I missing something on the hotel side of things? And yes, credit limit is not an issue.
Sep 6, 2016, 6:15 pm
#185
Join Date: Jan 2008
Location: Ohio
Programs: HHonors Diamond, SPG Platinum, Marriott Gold, United 1K
Posts: 190
I have big, legit monthly spend and weird CC issues
Hi all!
I have a question for the card gurus out there...
I have a successful business (LLC, taxed as corp) that generates $60k-$90k of spend per month. It's mostly travel (airfare, hotel, meals) but also some professional services (limo, A/V).
As you might expect, I'm trying to maximize benefit from all this spending!
I currently rely mainly on Chase and AmEx, but have tried to diversify with a Citi card:
- 4x Chase cards with $130k limit (CSP, Explorer, Marriott, Ink, SW)
- 2x AmEx cards with $75k limit (HHonors, SPG)
- Citi TYP with just $10.5k limit
I'm serious about paying things off on time and have Auto Pay set up to pay the monthly balance in full each month. Again, the business is in good shape so I can do this pretty reliably, which is awesome.
Now my questions:
1) Should I worry about Chase? I'm concerned about having so many "eggs" in the Chase basket. I love UR points and run $30k+ through the CSP and Ink monthly. And the United and Marriott points are nice to have too. So far Southwest is meh, since I don't fly them, but I buy lots of SW tickets for others so I'll take the points.
2) Should I change anything with the AmEx? My two AmEx cards are useful for the points they collect - I do lots of spend at Hilton and Sheraton hotels and really rake in the points. But I know the old HHonors AmEx isn't as good as the Citi Reserve.
3) Which card should get "random" airline and hotel spend? The Citi Thank You Premier is my newest card and I got it for non-UA/SW/Hilton/Starwood/Marriott spend. But they only gave me a small limit on it. I would move $20-30k spend to it if only they'd let me! As it is, I'm hitting the limit every month, paying it off, and then hitting the limit again. So much for diversifying spend! Having such a high limit with the combined Chase and AmEx cards means I'm "squeezed out" of other lenders, I think.
4) I also have an old Capital One card with $0 balance and $30k limit. It's a long-standing card so I think it helps my credit. What should I do about this thing? Ask to reduce the limit? Just leave it sitting there? Switch to some other Capital One product?
5) How can I improve my credit score? My credit score is "only" 730-740 due to high utilization because each month I'm charging a lot and paying a lot. But I'm an excellent risk with lots of money available and no problem paying in full each month. Shouldn't it be higher?
6) Will early paying help? I just switched the AmEx to earlier auto pay to try to reduce the apparent spend, but I can't do this (automatically) on chase. Is it worth paying off early or just pay automatically on the due date?
Thanks for your advice! So much here seems to focus on manufactured spend, but I have real spend!
I have a question for the card gurus out there...
I have a successful business (LLC, taxed as corp) that generates $60k-$90k of spend per month. It's mostly travel (airfare, hotel, meals) but also some professional services (limo, A/V).
As you might expect, I'm trying to maximize benefit from all this spending!
I currently rely mainly on Chase and AmEx, but have tried to diversify with a Citi card:
- 4x Chase cards with $130k limit (CSP, Explorer, Marriott, Ink, SW)
- 2x AmEx cards with $75k limit (HHonors, SPG)
- Citi TYP with just $10.5k limit
I'm serious about paying things off on time and have Auto Pay set up to pay the monthly balance in full each month. Again, the business is in good shape so I can do this pretty reliably, which is awesome.
Now my questions:
1) Should I worry about Chase? I'm concerned about having so many "eggs" in the Chase basket. I love UR points and run $30k+ through the CSP and Ink monthly. And the United and Marriott points are nice to have too. So far Southwest is meh, since I don't fly them, but I buy lots of SW tickets for others so I'll take the points.
2) Should I change anything with the AmEx? My two AmEx cards are useful for the points they collect - I do lots of spend at Hilton and Sheraton hotels and really rake in the points. But I know the old HHonors AmEx isn't as good as the Citi Reserve.
3) Which card should get "random" airline and hotel spend? The Citi Thank You Premier is my newest card and I got it for non-UA/SW/Hilton/Starwood/Marriott spend. But they only gave me a small limit on it. I would move $20-30k spend to it if only they'd let me! As it is, I'm hitting the limit every month, paying it off, and then hitting the limit again. So much for diversifying spend! Having such a high limit with the combined Chase and AmEx cards means I'm "squeezed out" of other lenders, I think.
4) I also have an old Capital One card with $0 balance and $30k limit. It's a long-standing card so I think it helps my credit. What should I do about this thing? Ask to reduce the limit? Just leave it sitting there? Switch to some other Capital One product?
5) How can I improve my credit score? My credit score is "only" 730-740 due to high utilization because each month I'm charging a lot and paying a lot. But I'm an excellent risk with lots of money available and no problem paying in full each month. Shouldn't it be higher?
6) Will early paying help? I just switched the AmEx to earlier auto pay to try to reduce the apparent spend, but I can't do this (automatically) on chase. Is it worth paying off early or just pay automatically on the due date?
Thanks for your advice! So much here seems to focus on manufactured spend, but I have real spend!
Sep 6, 2016, 6:24 pm
#186
Join Date: Jun 2012
Posts: 3,383
careful about doing business spend on a consumer credit card... the company might not like it
especially that... cycling your limit is bad. easy to get on bank's radar for a manual review (and possible shutdown)
I really won't want to be blacklisted by chase.... or amex. blacklisted on citi, not as bad
I wouldn't worry much about credit score unless you want a loan (car/housing/... )soon... then you should minimize utilization (put spend on actual business cards not reported to credit agencies)
you probably earn points quickly enough to be able to redeem... but have you given though on focusing spend/redemption on a specific airline/hotel for status?
As it is, I'm hitting the limit every month, paying it off, and then hitting the limit again. So much for diversifying spend!
I really won't want to be blacklisted by chase.... or amex. blacklisted on citi, not as bad
I wouldn't worry much about credit score unless you want a loan (car/housing/... )soon... then you should minimize utilization (put spend on actual business cards not reported to credit agencies)
you probably earn points quickly enough to be able to redeem... but have you given though on focusing spend/redemption on a specific airline/hotel for status?
Sep 6, 2016, 6:48 pm
#187
Join Date: Jan 2008
Location: Ohio
Programs: HHonors Diamond, SPG Platinum, Marriott Gold, United 1K
Posts: 190
I have tried to focus on hotels since I have good control on that spend. But now I have Hilton Diamond, Starwood Platinum, and Marriott Gold... I use points for work, though. As for air, I can't control that much. Mine is all United (1K) but I'm also buying lots of SWA, American, Delta, and international airlines for others. That's one reason I am looking for a strong "everything else" card for airfare especially.
Sep 7, 2016, 12:20 am
#188
Join Date: Jan 2013
Location: Hawai'i Nei
Programs: Au: UA, Marriott, Hilton; GE
Posts: 7,145
Hi all!
I have a successful business (LLC, taxed as corp) that generates $60k-$90k of spend per month. It's mostly travel (airfare, hotel, meals) but also some professional services (limo, A/V).
As you might expect, I'm trying to maximize benefit from all this spending!
I currently rely mainly on Chase and AmEx, but have tried to diversify with a Citi card:
- 4x Chase cards with $130k limit (CSP, Explorer, Marriott, Ink, SW)
- 2x AmEx cards with $75k limit (HHonors, SPG)
- Citi TYP with just $10.5k limit
I have a successful business (LLC, taxed as corp) that generates $60k-$90k of spend per month. It's mostly travel (airfare, hotel, meals) but also some professional services (limo, A/V).
As you might expect, I'm trying to maximize benefit from all this spending!
I currently rely mainly on Chase and AmEx, but have tried to diversify with a Citi card:
- 4x Chase cards with $130k limit (CSP, Explorer, Marriott, Ink, SW)
- 2x AmEx cards with $75k limit (HHonors, SPG)
- Citi TYP with just $10.5k limit
I'm no expert, but if I were you, I would consolidate my spend on two cards, the new CSR and an Amex Plat. Your current CL allocated between two cards should solve your problem and make your life a lot easier to manage.
Sep 7, 2016, 6:34 am
#189
Join Date: Jul 2011
Location: Sunny AZ
Programs: HH Diamond, Sixt Platinum, IHG Spire Ambassador, Marriott/SPG Gold .....
Posts: 3,214
Wow...you are spending 700-800k a year on credit cards, paying them off on a timely basis, and you have trouble getting a higher limit?
I'm no expert, but if I were you, I would consolidate my spend on two cards, the new CSR and an Amex Plat. Your current CL allocated between two cards should solve your problem and make your life a lot easier to manage.
I'm no expert, but if I were you, I would consolidate my spend on two cards, the new CSR and an Amex Plat. Your current CL allocated between two cards should solve your problem and make your life a lot easier to manage.
Sep 11, 2016, 5:06 am
#190
Join Date: Oct 2005
Location: SF
Programs: UA, VX, QF, EY, VA
Posts: 756
Hi all!
I have a question for the card gurus out there...
I have a successful business (LLC, taxed as corp) that generates $60k-$90k of spend per month. It's mostly travel (airfare, hotel, meals) but also some professional services (limo, A/V).
As you might expect, I'm trying to maximize benefit from all this spending!
I currently rely mainly on Chase and AmEx, but have tried to diversify with a Citi card:
- 4x Chase cards with $130k limit (CSP, Explorer, Marriott, Ink, SW)
- 2x AmEx cards with $75k limit (HHonors, SPG)
- Citi TYP with just $10.5k limit
I'm serious about paying things off on time and have Auto Pay set up to pay the monthly balance in full each month. Again, the business is in good shape so I can do this pretty reliably, which is awesome.
Now my questions:
1) Should I worry about Chase? I'm concerned about having so many "eggs" in the Chase basket. I love UR points and run $30k+ through the CSP and Ink monthly. And the United and Marriott points are nice to have too. So far Southwest is meh, since I don't fly them, but I buy lots of SW tickets for others so I'll take the points.
2) Should I change anything with the AmEx? My two AmEx cards are useful for the points they collect - I do lots of spend at Hilton and Sheraton hotels and really rake in the points. But I know the old HHonors AmEx isn't as good as the Citi Reserve.
3) Which card should get "random" airline and hotel spend? The Citi Thank You Premier is my newest card and I got it for non-UA/SW/Hilton/Starwood/Marriott spend. But they only gave me a small limit on it. I would move $20-30k spend to it if only they'd let me! As it is, I'm hitting the limit every month, paying it off, and then hitting the limit again. So much for diversifying spend! Having such a high limit with the combined Chase and AmEx cards means I'm "squeezed out" of other lenders, I think.
4) I also have an old Capital One card with $0 balance and $30k limit. It's a long-standing card so I think it helps my credit. What should I do about this thing? Ask to reduce the limit? Just leave it sitting there? Switch to some other Capital One product?
5) How can I improve my credit score? My credit score is "only" 730-740 due to high utilization because each month I'm charging a lot and paying a lot. But I'm an excellent risk with lots of money available and no problem paying in full each month. Shouldn't it be higher?
6) Will early paying help? I just switched the AmEx to earlier auto pay to try to reduce the apparent spend, but I can't do this (automatically) on chase. Is it worth paying off early or just pay automatically on the due date?
Thanks for your advice! So much here seems to focus on manufactured spend, but I have real spend!
I have a question for the card gurus out there...
I have a successful business (LLC, taxed as corp) that generates $60k-$90k of spend per month. It's mostly travel (airfare, hotel, meals) but also some professional services (limo, A/V).
As you might expect, I'm trying to maximize benefit from all this spending!
I currently rely mainly on Chase and AmEx, but have tried to diversify with a Citi card:
- 4x Chase cards with $130k limit (CSP, Explorer, Marriott, Ink, SW)
- 2x AmEx cards with $75k limit (HHonors, SPG)
- Citi TYP with just $10.5k limit
I'm serious about paying things off on time and have Auto Pay set up to pay the monthly balance in full each month. Again, the business is in good shape so I can do this pretty reliably, which is awesome.
Now my questions:
1) Should I worry about Chase? I'm concerned about having so many "eggs" in the Chase basket. I love UR points and run $30k+ through the CSP and Ink monthly. And the United and Marriott points are nice to have too. So far Southwest is meh, since I don't fly them, but I buy lots of SW tickets for others so I'll take the points.
2) Should I change anything with the AmEx? My two AmEx cards are useful for the points they collect - I do lots of spend at Hilton and Sheraton hotels and really rake in the points. But I know the old HHonors AmEx isn't as good as the Citi Reserve.
3) Which card should get "random" airline and hotel spend? The Citi Thank You Premier is my newest card and I got it for non-UA/SW/Hilton/Starwood/Marriott spend. But they only gave me a small limit on it. I would move $20-30k spend to it if only they'd let me! As it is, I'm hitting the limit every month, paying it off, and then hitting the limit again. So much for diversifying spend! Having such a high limit with the combined Chase and AmEx cards means I'm "squeezed out" of other lenders, I think.
4) I also have an old Capital One card with $0 balance and $30k limit. It's a long-standing card so I think it helps my credit. What should I do about this thing? Ask to reduce the limit? Just leave it sitting there? Switch to some other Capital One product?
5) How can I improve my credit score? My credit score is "only" 730-740 due to high utilization because each month I'm charging a lot and paying a lot. But I'm an excellent risk with lots of money available and no problem paying in full each month. Shouldn't it be higher?
6) Will early paying help? I just switched the AmEx to earlier auto pay to try to reduce the apparent spend, but I can't do this (automatically) on chase. Is it worth paying off early or just pay automatically on the due date?
Thanks for your advice! So much here seems to focus on manufactured spend, but I have real spend!
And paying early doesn't do anything apart from reduce your days of float.
Don't see the point of diversification if you can basically earn 3x UR on everything and 1x SPG on the rest.
Oct 16, 2016, 3:23 pm
#191
Join Date: Oct 2016
Posts: 140
Making a large Purchase this winter (20K Car), best card to use for points/miles?
I'm selling back my Jetta to VW this coming November, and buying a new car shortly after.
What would be the best card to use for points? Miles?
Any card option is allowed, as if I don't have it, I have the time to apply for it right now. I remember the British Airways card had a really good offer for spending a large amount, but that seems dead. Looking for similar offers like that! Thank you!
What would be the best card to use for points? Miles?
Any card option is allowed, as if I don't have it, I have the time to apply for it right now. I remember the British Airways card had a really good offer for spending a large amount, but that seems dead. Looking for similar offers like that! Thank you!
Oct 16, 2016, 4:14 pm
#193
Join Date: Feb 2009
Posts: 6,607
Oct 16, 2016, 5:08 pm
#194
Join Date: Dec 2013
Posts: 81
It completely depends on the dealer and what type of financing/other profit they're making off of the deal.
As a data point: I was able to put $5k on a CC for a car purchase roughly 2 years ago. This was all I asked for (and required as part of the purchase), they didn't limit me to it, so I don't know if they would have allowed more or not. I didn't tell them I was going to use a CC until the very end, so they didn't have a chance to build any more fees into the negotiated price. Something to keep in mind.
As a data point: I was able to put $5k on a CC for a car purchase roughly 2 years ago. This was all I asked for (and required as part of the purchase), they didn't limit me to it, so I don't know if they would have allowed more or not. I didn't tell them I was going to use a CC until the very end, so they didn't have a chance to build any more fees into the negotiated price. Something to keep in mind.
Oct 16, 2016, 5:46 pm
#195
Join Date: Feb 2009
Posts: 6,607
I assure you that if you pay cash you'll save enough money to offset any points you might earn excluding a possible signup bonus which can be had for $12 on every $1000 if you don't have legit spend.
This is of course assuming you are going to pay the car off in full the first month and avoid any cc interest.
This is of course assuming you are going to pay the car off in full the first month and avoid any cc interest.