The Rewards Card Strategies Discussion Thread

[mendelssohn]

 

 

 

See if you can convert your Discover to an "it." That will get you a free TU 08 FICO every month where there is activity on the account. >The Platinum card is my husband's, and it does report HIS TU08 FICO, but not mine as an AU. Hmmm....typing this just made me realize I always manage the account by logging in as him. If I create/log in to my own AU account, will it show my score? I doubt it, because Discover never got my SS#, doesn't know my legal name, and doesn't report my AU to CRAs. Only the primary account holder gets the FICO. You would need to get your own card to get the FICO score.

 

You should able to get a free Eq 08 FICO from Citi, with any of their non-cobranded cards, in the coming months. >Thanks, good to know.

 

Amex is supposedly rolling out Ex 08 FICO. >I read this somewhere and have logged in looking for it, but it's not available. This is also my husband's account so it would be his FICO, not mine.

 

That Fidelity Amex won't help with D*, but it might become a prybar. You should open a cash management account with Fidelity too. > Really, they won't use my Amex MS date on an Amex branded account? I was afraid that the CLs looked to be on the low side. I am thinking about the CMA; we have a lot of household brokerage/403b accounts with Fidelity, and our Wells Fargo PMA has no value left after they eliminated the 100 free trades/year. Wells Fargo has been a horrible bank to deal with. Nope, only Amex cards issued by Amex, not cards by other issuers on the Amex network.

 

The Chase Freedom is an excellent card to have.

 

I'd avoid the Amazon card. Get the Sallie Mae card instead. 5% cash back on groceries, gas stations, and book stores. Amazon is usually coded as a book store. > Good to know, thanks.

 

That Union Bank card looks awful in the second year. > Yes, I would plan to cancel it if I got it. Probably won't apply.

 

TD is awful after six months. > Yes, but with no AF I was just looking at the signup bonus.

 

Target is an excellent store. Their card, however, is CLI-challenged.

 

 

[andersons]

 

 

Well, if I go to Amex Travel to book a flight with MR points, for my flight, the points are worth 0.5 cents. I calculate about the SAME value of 0.5 cents for merchandise and gift cards. How do you get more value than that from MR points? Even with cards that earn 2X points or 3X points for certain categories, that's 1-1.5% rewards. Why wouldn't I just use the Fidelity Amex 2% rewards for any spending less than 4X MR points?

To clarify about the MR points, if they're transferable, they're worth more than a penny each. Transferring them to BA gets you Avios that should be worth $0.015+ each. So the 3x points categories are worth at least 4.5 cents each.

Don't trust points/miles values from the travel blogs. Remember that the value depends on how you use them. I personally would rather pay for a ticket than redeem for 1.5 cents each.

 

I know you implied this with the +, but I wanted to clarify.

 

 

Russ: how do you transfer MR points? Is the option found in a menu when logged into your Amex Account? Or when logged into your BA account?

 

mendelssohn: Are you redeeming points for flights through BA? Are certain flights better deals, in points, than others?

[mendelssohn]

 

 

 

 

Well, if I go to Amex Travel to book a flight with MR points, for my flight, the points are worth 0.5 cents. I calculate about the SAME value of 0.5 cents for merchandise and gift cards. How do you get more value than that from MR points? Even with cards that earn 2X points or 3X points for certain categories, that's 1-1.5% rewards. Why wouldn't I just use the Fidelity Amex 2% rewards for any spending less than 4X MR points?

To clarify about the MR points, if they're transferable, they're worth more than a penny each. Transferring them to BA gets you Avios that should be worth $0.015+ each. So the 3x points categories are worth at least 4.5 cents each.

Don't trust points/miles values from the travel blogs. Remember that the value depends on how you use them. I personally would rather pay for a ticket than redeem for 1.5 cents each.

 

I know you implied this with the +, but I wanted to clarify.

Russ: how do you transfer MR points? Is the option found in a menu when logged into your Amex Account? Or when logged into your BA account?

 

mendelssohn: Are you redeeming points for flights through BA? Are certain flights better deals, in points, than others?

Yes, for short domestic flights it's hard to beat BA. Just check the fares first to make sure it's worthwhile.

 

I helped a friend book a round trip flight on American through BA and it was only 15K miles (total round trip).

 

You transfer miles from your Amex account. You need to link the external programs to your MR account.

 

I'll post screen shots in a bit unless someone else does it first.

[andersons]

 

 

1) Amex Blue AU (MS 2002). Husband is cardholder. We have ~60,000 MR points, and I don't see how to get more than 0.5 cents per point out of them.

 

Can you transfer them to British Airways? If so, you can use BA to book flights on American. If not, then you need to think about redeeming those points, closing the card, and getting an Amex EveryDay.

 

 

Or watch out for KLM 50% off specials.

 

To get the most out of MR points, you need to transfer them into a frequent flier program and book award tickets. The best values are usually first/business class international tickets, although BA can be quite valuable booking domestic flights.

 

How are you coming up with .5 cent a piece?

 

 

I logged into my husband's Amex account, clicked Travel -> Book flights. Searched for SNA-MHT, which is a route I'd like to travel in August or so. Cheapest flight is $509 or 101,748 points. $509/101,748 = $0.005002555/point. (I wouldn't want the times/layovers of this cheap one, and would probably have to pay $200 more for decent times.)

 

So maybe this is a naive thing to do, but I'm a newbie to using rewards. I HAVE Googled for ways to get the most from Amex MR points. One blogger said the best deal was a plain Amex gift card for 1 cent/point, but I have never found that price on Amex. All the gift cards come out to 0.5 cent/point.

 

It sounds like this BA deal is a special magic sauce...

[mendelssohn]

 

 

 

1) Amex Blue AU (MS 2002). Husband is cardholder. We have ~60,000 MR points, and I don't see how to get more than 0.5 cents per point out of them.

 

Can you transfer them to British Airways? If so, you can use BA to book flights on American. If not, then you need to think about redeeming those points, closing the card, and getting an Amex EveryDay.

 

 

Or watch out for KLM 50% off specials.

 

To get the most out of MR points, you need to transfer them into a frequent flier program and book award tickets. The best values are usually first/business class international tickets, although BA can be quite valuable booking domestic flights.

 

How are you coming up with .5 cent a piece?

 

 

I logged into my husband's Amex account, clicked Travel -> Book flights. Searched for SNA-MHT, which is a route I'd like to travel in August or so. Cheapest flight is $509 or 101,748 points. $509/101,748 = $0.005002555/point. (I wouldn't want the times/layovers of this cheap one, and would probably have to pay $200 more for decent times.)

 

So maybe this is a naive thing to do, but I'm a newbie to using rewards. I HAVE Googled for ways to get the most from Amex MR points. One blogger said the best deal was a plain Amex gift card for 1 cent/point, but I have never found that price on Amex. All the gift cards come out to 0.5 cent/point.

 

It sounds like this BA deal is a special magic sauce...

 

 

Gift cards is a bad deal, and you are still not looking where you need to. Give me a few minutes to post some screens shots.

[mendelssohn]

I think we can do this without pics.

 

From your Amex PRG screen, click on Membership Rewards.

 

On the next screen, click on "Travel" to the left.

 

On the next screen, you'll have the options to "book your trip with points" or "transfer points." Click "get started" under "transfer points."

 

You'll see a list of airline and hotel programs where you can transfer points. You'll need to create accounts to those airline and hotel programs and link them to your Membership Rewards account.

 

Research the airline reward charts to see what you would need to book award tickets. You may, for example, end up using British Airways Avios to book travel on American or another airline in that alliance.

[andersons]

 

 

 

 

Well, if I go to Amex Travel to book a flight with MR points, for my flight, the points are worth 0.5 cents. I calculate about the SAME value of 0.5 cents for merchandise and gift cards. How do you get more value than that from MR points? Even with cards that earn 2X points or 3X points for certain categories, that's 1-1.5% rewards. Why wouldn't I just use the Fidelity Amex 2% rewards for any spending less than 4X MR points?

To clarify about the MR points, if they're transferable, they're worth more than a penny each. Transferring them to BA gets you Avios that should be worth $0.015+ each. So the 3x points categories are worth at least 4.5 cents each.

Don't trust points/miles values from the travel blogs. Remember that the value depends on how you use them. I personally would rather pay for a ticket than redeem for 1.5 cents each.

 

I know you implied this with the +, but I wanted to clarify.

Russ: how do you transfer MR points? Is the option found in a menu when logged into your Amex Account? Or when logged into your BA account?

 

mendelssohn: Are you redeeming points for flights through BA? Are certain flights better deals, in points, than others?

Yes, for short domestic flights it's hard to beat BA. Just check the fares first to make sure it's worthwhile.

 

I helped a friend book a round trip flight on American through BA and it was only 15K miles (total round trip).

 

You transfer miles from your Amex account. You need to link the external programs to your MR account.

 

I'll post screen shots in a bit unless someone else does it first.

 

 

I found it! Transfer Points. Had to go to Rewards section and then scroll down to see it.

 

Wow, this is a complicated little game. Kudos for figuring it out, and thanks for helping the rest of us!

[Konrad2012]

I don't travel that often, but when I do, I usually go longer distances...

 

NYC TO LA

That's long? That's like 5 hours if its direct.

 

United has 1st Class tickets from NY to LA or Orange County for like $700 if you book 21 days out and hub through Texas. That would take almost 1/2 the mileage redemption of a 1st Class International ticket that could be worth $5k-$10k.

[Cappy]

 

I don't travel that often, but when I do, I usually go longer distances...

 

NYC TO LA

That's long? That's like 5 hours if its direct.

 

United has 1st Class tickets from NY to LA or Orange County for like $700 if you book 21 days out and hub through Texas. That would take almost 1/2 the mileage redemption of a 1st Class International ticket that could be worth $5k-$10k.

 

 

So you're saying United makes more sense for international flights?

[JayB27]

How soon are we all going to be able to redeem the US Airway miles, and are these better redeemed as AA after they merge?

 

I know almost nothing about this, so if I am way of course, I am not surprised.

[Konrad2012]

I'm saying I wouldn't waste miles on domestic flights if you like to go to Europe.

 

Unless you're like CV with a grip of miles to liquidate. But you've posted your miles and you're not.

 

I found a matrix of sorts showing different loyalty programs and how to move points between them the other day, but it was a link from a link and I cannot find it now for you. Basically move UR or MR or TY to hotels and then to partner airlines if they cannot directly transfer. You might take a bath on some of them, but maybe a better option for consolidation. Try to google that matrix

[Konrad2012]

How soon are we all going to be able to redeem the US Airway miles, and are these better redeemed as AA after they merge?

 

I know almost nothing about this, so if I am way of course, I am not surprised.

US Air has a better redemption usually, and they allow a stopover.

 

AA allows 1 way purchases which can be nice.

 

Dont worry, after another 1000 hours reading you will be a Mileage Redemption expert.

 

And don't take my post like I am an expert.. im only slightly ahead of you. Guys at FT have been up to this for 15 years...

[mendelssohn]

I'm saying I wouldn't waste miles on domestic flights if you like to go to Europe.

I agree 100%. It only makes sense occasionally with BA Avios depending on the route for me.

 

He could certainly use the Southwest miles though.

[mendelssohn]

How soon are we all going to be able to redeem the US Airway miles, and are these better redeemed as AA after they merge?

 

I know almost nothing about this, so if I am way of course, I am not surprised.

It depends on your plan for them. I don't really care what the pre-merger value is. I got my US Airways card to leverage my AAdvantage account, along with 2 AA cards last year. I'm saving miles for a couple first class international tickets.

 

I'm sure you can use them immediately after the programs merge. I bet at some point we will have the opportunity to provide US Airways with our AAdvantage number and that people who don't do so will have an AAdvantage account opened in their name.

[Cappy]

I'm saying I wouldn't waste miles on domestic flights if you like to go to Europe.

 

Unless you're like CV with a grip of miles to liquidate. But you've posted your miles and you're not.

 

I found a matrix of sorts showing different loyalty programs and how to move points between them the other day, but it was a link from a link and I cannot find it now for you. Basically move UR or MR or TY to hotels and then to partner airlines if they cannot directly transfer. You might take a bath on some of them, but maybe a better option for consolidation. Try to google that matrix

 

United has a fixed points system, so I think I'll stick with them for Int Flights...

 

I guess SW makes the most sense for Domestic...

 

UA, I'm going to wait until it Merges with AA..

 

Delta points are worth CRAP...

 

 

I would love to move my delta points somewhere... ANYWHERE!!!

[shifter]

I'm saying I wouldn't waste miles on domestic flights if you like to go to Europe.

Exactly I never use miles for anything

 

but first class international travel.

[shifter]

Delta points are worth CRAP...

They're great if you live

 

near one of their hubs.

 

Nothing like a nonstop flight from your house

 

to Europe, Asia or Africa.

[mendelssohn]

 

Delta points are worth CRAP...

They're great if you live

 

near one of their hubs.

 

Nothing like a nonstop flight from your house

 

to Europe, Asia or Africa.

Great point.

 

You really need to consider who services your airport(s).

[andersons]

I think we can do this without pics.

 

From your Amex PRG screen, click on Membership Rewards.

 

On the next screen, click on "Travel" to the left.

 

On the next screen, you'll have the options to "book your trip with points" or "transfer points." Click "get started" under "transfer points."

 

You'll see a list of airline and hotel programs where you can transfer points. You'll need to create accounts to those airline and hotel programs and link them to your Membership Rewards account.

 

Research the airline reward charts to see what you would need to book award tickets. You may, for example, end up using British Airways Avios to book travel on American or another airline in that alliance.

 

I found a page on BA titled "How Many Avios Do You Need?". It won't quote SNA-MHT because it "includes a partner airline." However, SNA-BOS can be had for 12,500 Avios. So theoretically right now I could transfer ~56K MR points to 78,400 Avios and buy 3 RT tickets to New England! Amazing! Buying them right now would cost USD $1500-1800. Now, I suppose I need to actually make the BA account and see if the rewards flights are actually bookable around my target travel time?

[JayB27]

 

How soon are we all going to be able to redeem the US Airway miles, and are these better redeemed as AA after they merge?

 

I know almost nothing about this, so if I am way of course, I am not surprised.

US Air has a better redemption usually, and they allow a stopover.

 

AA allows 1 way purchases which can be nice.

 

Dont worry, after another 1000 hours reading you will be a Mileage Redemption expert.

 

And don't take my post like I am an expert.. im only slightly ahead of you. Guys at FT have been up to this for 15 years...

 

Your response wont offend me, I appreciate any help I can get. So will US air still be around after the merger, that's where it confuses me. DO I need to redeem before a certain time?

 

 

How soon are we all going to be able to redeem the US Airway miles, and are these better redeemed as AA after they merge?

 

I know almost nothing about this, so if I am way of course, I am not surprised.

It depends on your plan for them. I don't really care what the pre-merger value is. I got my US Airways card to leverage my AAdvantage account, along with 2 AA cards last year. I'm saving miles for a couple first class international tickets.

 

I'm sure you can use them immediately after the programs merge. I bet at some point we will have the opportunity to provide US Airways with our AAdvantage number and that people who don't do so will have an AAdvantage account opened in their name.

 

Here is what I am doing. I have a Vegas tripped planned for April-ish. I haven't booked any travel plans yet, but it would be round trip from Michigan. If I can get my tickets free or lower cost than I would normally pay, that is what I want to do. I saw on the link thru card site, for redemption for the complete trip/lodging. That is what I'd like to accomplish for round #1 anyway. I may also have another trip coming up after this one, but I will focus solely on this one for now.

When do they merge?

[mendelssohn]

 

 

I think we can do this without pics.

 

From your Amex PRG screen, click on Membership Rewards.

 

On the next screen, click on "Travel" to the left.

 

On the next screen, you'll have the options to "book your trip with points" or "transfer points." Click "get started" under "transfer points."

 

You'll see a list of airline and hotel programs where you can transfer points. You'll need to create accounts to those airline and hotel programs and link them to your Membership Rewards account.

 

Research the airline reward charts to see what you would need to book award tickets. You may, for example, end up using British Airways Avios to book travel on American or another airline in that alliance.

I found a page on BA titled "How Many Avios Do You Need?". It won't quote SNA-MHT because it "includes a partner airline." However, SNA-BOS can be had for 12,500 Avios. So theoretically right now I could transfer ~56K MR points to 78,400 Avios and buy 3 RT tickets to New England! Amazing! Buying them right now would cost USD $1500-1800. Now, I suppose I need to actually make the BA account and see if the rewards flights are actually bookable around my target travel time?

You should have rewards accounts for all the transfer partners.

 

 

 

How soon are we all going to be able to redeem the US Airway miles, and are these better redeemed as AA after they merge?

 

I know almost nothing about this, so if I am way of course, I am not surprised.

US Air has a better redemption usually, and they allow a stopover.

 

AA allows 1 way purchases which can be nice.

 

Dont worry, after another 1000 hours reading you will be a Mileage Redemption expert.

 

And don't take my post like I am an expert.. im only slightly ahead of you. Guys at FT have been up to this for 15 years...

Your response wont offend me, I appreciate any help I can get. So will US air still be around after the merger, that's where it confuses me. DO I need to redeem before a certain time?

 

How soon are we all going to be able to redeem the US Airway miles, and are these better redeemed as AA after they merge?

 

I know almost nothing about this, so if I am way of course, I am not surprised.

It depends on your plan for them. I don't really care what the pre-merger value is. I got my US Airways card to leverage my AAdvantage account, along with 2 AA cards last year. I'm saving miles for a couple first class international tickets.

 

I'm sure you can use them immediately after the programs merge. I bet at some point we will have the opportunity to provide US Airways with our AAdvantage number and that people who don't do so will have an AAdvantage account opened in their name.

Here is what I am doing. I have a Vegas tripped planned for April-ish. I haven't booked any travel plans yet, but it would be round trip from Michigan. If I can get my tickets free or lower cost than I would normally pay, that is what I want to do. I saw on the link thru card site, for redemption for the complete trip/lodging. That is what I'd like to accomplish for round #1 anyway. I may also have another trip coming up after this one, but I will focus solely on this one for now.

 

When do they merge?

There's no way to know for sure.

[cloknem]

I like cash back. As I look at my cards most offer long term 0% on purchases and I like getting cash back while I pay it off in time. However, my long term dream is to go back to the Deutschland, but I know these cards won't get me there.

Amex Gold

Amex Costco

Barclays Rewards

Barclays Apple Finance

Barclays NFL

Capital One QS x 2

Capital One Venture

Chase Freedom

Chase Slate

Chase Amazon

Citi Double Cash

Discover it

USAA CashBack Rewards

Walmart

PepBoys

[schizcat]

I am very interested in this discussion. But I have a more basic question: how exactly do you extract so much value from points?? -- The idea is to use the cards as effiently as possible for what you will actually be needing. Dont get a travel card if you dont travel. You can use points\cash back on things that are more useful to you.

 

So, my list of possible apps:

1) Nordstrom? Might be nice to have when I do shop there. They are INQ sensitive so maybe I should apply now with my clean file? - unless you need to up your credit file, use a card that will give you points\rewards\cash back.

2) AMEX is obviously top priority for the D*. BCP for 6% groceries as long as they recognize Trader Joe's.

3) Fidelity AMEX. 2% everywhere. I don't know if it helps with the app, but I have a brokerage account.

3) Chase Freedom. $100 signup bonus, 5% grocery Jan-Mar.

4) Amazon Rewards. 3% Amazon.

5) Union Bank Graphite Amex? 3% airline, 2% gas & grocery, 1%. $99 AF 2nd year. I have longtime Union Bank checking which I will close soon due to new fees.

6) TD Easy Rewards Visa. $100 after $500 spend/90 days. 5X points for 6 months on grocery, gas, dining, utilities. I have TD Ameritrade brokerage account.

7) Target? -- same as Nordstrom. Unless you make large purchases and can use their incentives then better to get rewards.

8) Lowe's, maybe. We will be remodeling soon, and if I can plan a major purchase at Lowe's, 10% initial discount or 5% ongoing could be quite nice. I never read here about Home Depot card, but a lot of time Home Depot, not Lowe's, has products want, like Cree high-CRI LED bulbs with warranty, attractive value bathroom vanities, etc. - this will be the only reason I will use my Lowes card.

[mendelssohn]

I like cash back. As I look at my cards most offer long term 0% on purchases and I like getting cash back while I pay it off in time. However, my long term dream is to go back to the Deutschland, but I know these cards won't get me there.

Amex Gold

Amex Costco

Barclays Rewards

Barclays Apple Finance

Barclays NFL

Capital One QS x 2

Capital One Venture

Chase Freedom

Chase Slate

Chase Amazon

Citi Double Cash

Discover it

USAA CashBack Rewards

Walmart

PepBoys

Is the Germany trip a 1 time thing?

 

Check out the airlines that fly to Germany from your nearest airport.

 

Search with that airline and within their alliance for the best CC signup offers. Before applying, it's helpful to check the historical bonuses for a given card.

 

If any of the points cards transfer to that airline, get them as well.

[Tyra]

The one thing I'd like to toss in early on in the thread is that the most valuable travel rewards are the ones you actually use.

 

Getting a bunch of cards because you read about a blogger who took a first-class trip to Chad and got eleven cents a mile isn't going to help you if you're only ever going to hop on a Southwest flight to go to Indianapolis and stay in a HoJo.

 

Start with one focused trip you're actually going to take - a trip that's well into the future (think 9-12 months) - figure out how many of which kinds of points will be required to cover all of your expenses, and then execute the plan.

 

Also, be realistic. If you aren't a big spender and you aren't going to do M$, focus entirely on signup bonuses.

^This.

 

When it comes to travel reward cards I'd recommend planning your trip first. Consider where you want to go and which airlines fly from where you are to where you want to go. Go online and try to book award tickets for those days to get an idea of award availability. Miles don't do you any good if you can't get an award ticket. Check what hotel chains are there. Research how many points are required to stay at that time of year in those particular hotels and what hotels in that area usually go for on priceline to help decide if you even want to bother to app for hotel cards.

 

What I think you don't want to do is just app for a bunch of travel cards and end up with a bunch of points and miles that take you nowhere you want to go. Or force you to shoehorn your vacation desires into the miles and points you have. By that I mean things such as staying in a hotel because you have points for that chain but the hotel is not optimally located for your planned vacation activities and may end up costing you more money out of pocket for local transportation or make your vacation less enjoyable. I say that because I did that when I first got started applying for travel reward cards. It's tempting to app for the cards that give the biggest current bonuses and that others online are raving about, or the ones that tend to give the most cents per mile or point but if that doesn't fit with your specific vacation plans for the next year they may not be the best apps for you because points and miles tend to get devalued every year by the airlines and hotel chains so there is not much benefit to stockpiling miles and points for the future.