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Originally Posted by Duke5150
(Post 6965947)
Interesting approach.....I thought it takes 2 million miles for Lifetime Plat on AA. That's alot of airline vacation flying. Is it worth it? OR, as AWAKE advised get a cash back card at 1 1/2%?
with AA you do not need to fly 2 million miles...you just need 2 million miles...the way to do it is the following: transfer your starpoints from SPG AMEX to AA and you will earn status.....less than 2 yrs since you get a 25% bonus for every 20,000pts transferred... |
Originally Posted by dcpatti
(Post 6965530)
I saw a couple of references to Citi PremierPass card in this and other forums and have to say, before anyone seriously considers carrying this card, read the fine print. I got one of those "you're pre-approved!" mailers with an offer for 0% APR on balance transfers till 1/2008 which is a really good deal; I was actually considering transferring some off of a moderate interest card just for the 0% (I already earn a ton of miles and points so the interest was the only attraction for me)... till I read the back of the offer letter.
Default interest rate (which is what your payments will jump to if you're late even once) is a ghastly 33% today and set at prime+29% variable! That's quite possibly the highest credit card interest rate I have ever seen! While I am a firm believer in automated payments to safeguard against missed payments (I always have the money but can't always remember what day of the month it is), even these aren't 100% guaranteed as I've had automated payments to other companies black-holed due to computer glitches (their end, not mine). And while I am generally happy with Citi (I carry the card with the TY network), and rarely if ever miss payments to anyone, I just can't in good faith carry this card. So on whatever offer you go with, read the fine print... free miles on purchases are not worth 33% interest!!! |
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What I found to be the easiest way to make sure you don't get ratejacked to a very high interest rate (esp. with Citi) is:
1. Sign up on their site for email alerts. You'll get an email when a new statement is printed. You get another one warning you when your payment is due in a few days. 2. When you get the email alert, schedule the payment through Citi's site. Since you get 2 emails in advance of the due date AND the paper statement in the mail, and schedule the payment through Citi directly, it's almost impossible to forget to pay it, and if the payment doesn't go through it's clearly Citi's reponsibility. I do not fear the 33% interest rate - if I end up getting ratejacked, it's my own fault. |
Originally Posted by kranky
(Post 6973158)
What I found to be the easiest way to make sure you don't get ratejacked to a very high interest rate (esp. with Citi) is:
1. Sign up on their site for email alerts. You'll get an email when a new statement is printed. You get another one warning you when your payment is due in a few days. 2. When you get the email alert, schedule the payment through Citi's site. Since you get 2 emails in advance of the due date AND the paper statement in the mail, and schedule the payment through Citi directly, it's almost impossible to forget to pay it, and if the payment doesn't go through it's clearly Citi's reponsibility. I do not fear the 33% interest rate - if I end up getting ratejacked, it's my own fault. I agree completely. |
Originally Posted by anaggie
(Post 6971969)
transfer your starpoints from SPG AMEX to AA and you will earn status.....less than 2 yrs since you get a 25% bonus for every 20,000pts transferred...
2. Duke5150's point may have been that it would take a lot of vacation flying to redeem 2,000,000 AAdvantage miles, and it may not be worthwhile to chase status for someone who does not fly on business. |
Originally Posted by mia
(Post 6973493)
1. $500,000 annual purchases all on SPG credit card would generate 625,000 AA miles per year. It would take 3+ years to generate 2,000,000 miles. I do not see how you are calculating two years.
2. Duke5150's point may have been that it would take a lot of vacation flying to redeem 2,000,000 AAdvantage miles, and it may not be worthwhile to chase status for someone who does not fly on business. Maybe Duke should spend $350,000 on SPG AMEX to cover first class vacations and put the rest on an unlimited cash card. He could get a Citi Chairman,AMEX Platinum/Centurion, Diners/Carte Blanche or ML+3 for the benefits if he needs them. |
Originally Posted by mia
(Post 6973493)
1. $500,000 annual purchases all on SPG credit card would generate 625,000 AA miles per year. It would take 3+ years to generate 2,000,000 miles. I do not see how you are calculating two years.
Sorry -- miscalculated...was on vacation...brain shut down... 2. Duke5150's point may have been that it would take a lot of vacation flying to redeem 2,000,000 AAdvantage miles, and it may not be worthwhile to chase status for someone who does not fly on business. correct...but maybe he wants status or maybe he wants all of his "vacation" flights to be free....all he has to is some activity on the AA acct so that they do not expire... |
Originally Posted by kranky
(Post 6973158)
What I found to be the easiest way to make sure you don't get ratejacked to a very high interest rate (esp. with Citi) is:
1. Sign up on their site for email alerts. You'll get an email when a new statement is printed. You get another one warning you when your payment is due in a few days. 2. When you get the email alert, schedule the payment through Citi's site. Since you get 2 emails in advance of the due date AND the paper statement in the mail, and schedule the payment through Citi directly, it's almost impossible to forget to pay it, and if the payment doesn't go through it's clearly Citi's reponsibility. I do not fear the 33% interest rate - if I end up getting ratejacked, it's my own fault. 1) I ask CITI to close the statement on the 20-23rd every month -- this way it gets to me by the end of month... 2) I get paid once a month -- end of every month... 3) All my bills are paid either on the 15th or the EOM..... So, Citi is always paid at EOM....thereby never late-- no late fee...no 33% intrests... |
Originally Posted by anaggie
(Post 6976049)
correct...but maybe he wants status or maybe he wants all of his "vacation" flights to be free....all he has to is some activity on the AA acct so that they do not expire...
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Originally Posted by drbond
(Post 6938124)
I am not yet convinced on TYP so I would stay with AA or SPG.
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The new AMEX gold gives you triple points on airfare with any airline. With the SPG AMEX
you can tranfer your points to pretty much any airline an get a 5k points bonus for every 20k points you transfer into miles. There is no better redemption value out there right now. |
Originally Posted by elmarweb
(Post 13377843)
...no better redemption value out there right now.
You will find substantial disagreement on this conclusion. See, for example, this thread: http://www.flyertalk.com/forum/other...astercard.html And also this one: http://www.flyertalk.com/forum/other...edit-card.html |
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