I love credit cards so much!

[mom2elal]

any Californians? only one i know is @gottalovepluto
https://swacaliforniamillions.com

for the rest of you guys... https://www.southwest.com/flight/contest/201860142327161

Californian here! Hmmm, not sure how I feel about this, since I did not win a single point the last time they did it.

 

[Albort]

Just saw in yesterday’s news that Alaska is already cutting back on former Virgin America routes in California.

probably to discipline those Virgin pilots for using the wrong call signs /s

 

[wendow]

I’m not going to be much help. I hesitate to make a recommendation either way because the 35k SPG points is such a big offer, but I’d hate to put you in a situation where you can’t meet the big $7k spend or tell you that Plastiq for mortgages on Amex will be ok. I just don’t know for sure. I know Amex doesn’t want mortgages paid using Plastiq. I also know that if you can get a payment through Plastiq, there’s no way Amex can tell what it’s for or to whom just from the way the transaction posts. You’ll remember about a week ago @Albort and I posted how Plastiq posts on our SPG Bizs. If you do decide against moving your mortgage over to meet an SPG Biz MSR, you still have a really good thing going with the CIP. And if a $5k MSR is easier, the 25k SPG points offer is a solid offer that’s still around and will be around again. Don’t feel like you’ve missed out on anything.

That was really helpful to me. I mean it. Thank you!!

 

[Sun_soakin]

I am going to agree with the advice that @speedyfishy gave you and say go for your Chase cards first and if you can swing it, double dip the CSR and CSP apps at the same time. Then when the spend is made on those, have your DH do the same. Then each go for the CIP business cards. I'd advise to keep the CSR over the CSP when the AF hits on those and PC your CSP to a Freedom, have DH PC his to a CFU. When the AF hits on your CIP cards, if you are able to use Plastiq advantageously, then keep one CIP and PC the other one to a CIC which has no AF. That will wind up being a workhorse in 5X UR earning, up to $25K in spend annually. It will get 5x on cable, internet, phone and office supply stores. You can purchase gift cards, including Disney GCs at office supply stores and make most of your shopping 5x that way. Many of the gift cards, you can stack points earning by shopping online and going through a shopping portal first.

I’ve never done plastiq before, but I understand it to be a vehicle that allows you to pay other bills, like your mortgage w/ a cc. And it’s worth the fee incurred?? I need to figure out cash value of the points to better understand these concepts. Like the $6k property tax installment I have to make next month, I think they offer an option to pay w/ your cc but you incur the fee...what % fee would you accept to get points on CIP?
So it seems I need to do CSR and CSP on the same day. Can DH do them same day too? When do we do CIP? How far apart should these be spaced?

 

[Sun_soakin]

I can't tell you how many times I've kicked myself that I didn't start sooner. We've had a lot of medical over the last three years that I mostly wrote checks for until 18 mos ago And then there was the almost 4 mos we lived in a Marriott hotel, and I didn't open the CC because I was "responsible" and not interested in more CC's Oh well, live and learn, right? You are here now and once you see what all is out there, it will change the way you use CC's.

Well, I’ve seen this thread for awhile but I’ve been too lazy and/or impatient. Hubby says we’ve been spending too much on travel last couple of years though, so I’m going to fix that w/o sacrificing!

 

[Sun_soakin]

double dipping in credit card terms means to apply for 2 cards at once. The result of this is it will usually result in 1 credit card pull. The main reason we double dip for example is because Chase only allows us to have a single Sapphire card. By applying for both Sapphire cards at once, you can get both. 30 day message usually means your application is submitted and the computer doesnt like something so its often held to be reviewed. The best way to maximize chase rewards is to have the quadfecta(ink, Sapphire, Freedom x2). this covers a huge category. Yes, u can pay for someone else's GE. I paid for my moms.



heh, its a way to compete against Alaska i guess... Both airlines are fighting over Californians business haha.

That’s good to hear on GE.
What kind of thing would cause the application to be trigggered for review? What do you say if they want to know why you applied for two sapphires on the same day? I need a chase card 101...why would you need two freedoms?

 

[wendow]

I’ve never done plastiq before, but I understand it to be a vehicle that allows you to pay other bills, like your mortgage w/ a cc. And it’s worth the fee incurred?? I need to figure out cash value of the points to better understand these concepts. Like the $6k property tax installment I have to make next month, I think they offer an option to pay w/ your cc but you incur the fee...what % fee would you accept to get points on CIP?
So it seems I need to do CSR and CSP on the same day. Can DH do them same day too? When do we do CIP? How far apart should these be spaced?

Plastiq is a bill-payment service. It *can* be a vehicle for paying your mortgage but not always. Visa and Amex do not allow mortgage payments through plastiq so those of us getting them through are addressing our payments in such a way that plastiq is not catching on that these are mortgages but they are well-addressed enough that they are getting to the mortgage company. This can be a tricky thing to figure out so you cannot bank on it working for all. The fee for paying through plastiq is 2.5%. Charges on the CIP are currently coding at 3% so there is a small money maker there. If you have the CSR, and move your points earned on the CIP to the CSR, then those points are worth 50% more. So, now, you've made even more.

CSR/CSP double dip must be on the same day and ideally, within an hour or so (different browsers). Choose which card you want the most. Apply. If not automatically approved, call the recon number and get approved before applying for the other. Theoretically, your dh can do them on the same day also as long as you can meet the 16k combined spend in 3 mos (seems like you can, from what you posted). I would at least wait until the account shows on Chase so you can generate a referral link.

The CIP would be a great card to start with. You and your dh could also both do it first if you can meet 10k spend in 3 mos. He has a legitimate business. Maybe you have a 'business'. Make sure to use spouse's referral for extra bonus. Again, wait for that card to show up on chase.com or in the mail.

Have you joined the DIS churners group? All the links for your first apps are there to get you going!

 

[wendow]

That’s good to hear on GE.
What kind of thing would cause the application to be trigggered for review? What do you say if they want to know why you applied for two sapphires on the same day? I need a chase card 101...why would you need two freedoms?

Apply for the card you want most, first...if it goes to pending, call right away to see what they need to approve you. Once approved, apply for the other.

 

[Albort]

I’ve never done plastiq before, but I understand it to be a vehicle that allows you to pay other bills, like your mortgage w/ a cc. And it’s worth the fee incurred?? I need to figure out cash value of the points to better understand these concepts. Like the $6k property tax installment I have to make next month, I think they offer an option to pay w/ your cc but you incur the fee...what % fee would you accept to get points on CIP?
So it seems I need to do CSR and CSP on the same day. Can DH do them same day too? When do we do CIP? How far apart should these be spaced?

Plastiq is a concept of buying points at a certain factor. you should always calculate by fee then divide that by the number of points. The answer should be a .0xxx. We call this CPP(cents per point) Take for example. $1000 bill used on plastiq, you recieve with freedom unlimited(1.5x). the fee is $25. your point earning will be 1500 from the base, then 37.50. Total earn points = 1538 UR. since your fee is $25, divide that by 1538 UR = .01625. you are basically buying 1 UR point @ a rate of .01625.
Now lets look at the CIP. CIP gives u 3x(3%) back on plastiq. the Fee is 2.5%. therefore, u have a small earning rate of .5% Therefore a lot of people here use their CIP very extensively with Plastiq.

That’s good to hear on GE.
What kind of thing would cause the application to be trigggered for review? What do you say if they want to know why you applied for two sapphires on the same day? I need a chase card 101...why would you need two freedoms?

Could be all sorts of reasons. we honestly dont know for sure, but income level, your Age of Account, your credit score, the number of cards you have applied... so many reasons honestly.
They usually wont ask. If they do ask, just say something like you want to keep your finance charges separately. usually a good excuse. lol. IE like i want to use travel on one card and dining on another.
as for why 2 freedom cards, theres actually 2 different types of freedom card. the one i mention is the Chase Freedom Unlimited which earns 1.5X on all purchases. the other Freedom card earns a 5% on Quarterly Categories. From the past, Q1 is usually gas stations, Q2 is Groceries, Q3 is restaurants, and Q4 has always been pretty random. Some people who does max out the $1500 for Freedom so they would have 2 Freedom cards too.
Edit: i missed a question.

 

[SouthFayetteFan]

That’s good to hear on GE.
What kind of thing would cause the application to be trigggered for review? What do you say if they want to know why you applied for two sapphires on the same day? I need a chase card 101...why would you need two freedoms?

2 Freedoms I assume was a reference to the Chase Freedom and the Chase Freedom Unlimited which are two distinct products. They both earn Chase Ultimate Rewards (URs) in different ways. My wife and each have both cards for maximum earning hahaha.

 

[Sun_soakin]

So much great help here!!! I really appreciate everyone taking the time to explain things.
I’ll find the DIS churners and get on that for the links. I’ll start with the CSP and CSR for both me and DH. I’ll have to look at CIP further...not sure it would make sense to even try getting my mortgage through since it’s with Chase and that seems pretty obvious. Maybe I’ll want the freedom unlimited at some point. I don’t think the regular freedom would be worth the trouble since we don’t spend a whole lot on gas (and the 4% we get back using our Costco card is pretty good) and I hardly buy any groceries outside of Costco.

 

[Albort]

So much great help here!!! I really appreciate everyone taking the time to explain things.
I’ll find the DIS churners and get on that for the links. I’ll start with the CSP and CSR for both me and DH. I’ll have to look at CIP further...not sure it would make sense to even try getting my mortgage through since it’s with Chase and that seems pretty obvious. Maybe I’ll want the freedom unlimited at some point. I don’t think the regular freedom would be worth the trouble since we don’t spend a whole lot on gas (and the 4% we get back using our Costco card is pretty good) and I hardly buy any groceries outside of Costco.

another thing to think about is you can downgrade those CSP/CSR down to the Freedom cards. you do lose transfer to airlines/hotel ability as well as a multiplier on chase portal.

 

[Lain]

I’ve never done plastiq before, but I understand it to be a vehicle that allows you to pay other bills, like your mortgage w/ a cc. And it’s worth the fee incurred?? I need to figure out cash value of the points to better understand these concepts. Like the $6k property tax installment I have to make next month, I think they offer an option to pay w/ your cc but you incur the fee...what % fee would you accept to get points on CIP?
So it seems I need to do CSR and CSP on the same day. Can DH do them same day too? When do we do CIP? How far apart should these be spaced?

First off, Chase’s rewards program is called Ultimate Rewards ("UR"). You'll find that it's very popular here because points are pretty easy to earn, and very easy to understand and redeem. UR points are valued at 1 point = $0.01 if you ever decide you want "cash back." However, if you redeem UR points for travel using one of Chase's premium cards, they're worth 25% more with the Chase Sapphire Preferred ("CSP") and Chase Ink Business Preferred ("CIP"), or 50% more with the Chase Sapphire Reserve ("CSR"), when using Chase's Ultimate Rewards travel portal or the Cruise and Tour department. You can move all UR points earned on any card to another card in your household to pool the points and obtain the best value.

As @speedyfishy, already pointed out, you can transfer UR points to Chase’s many airline and hotel partners 1:1. However, UR points have additional flexibility because you can use them like cash to book flights, accommodations (even Disney resorts), and activities through Chase’s Ultimate Rewards travel portal. Think of Chase’s travel portal like Expedia (because it actually is running the Expedia platform). In addition to redeeming points through Chase’s travel portal, you can use UR points for flights, rooms, cruises, tours, Disney theme park tickets, vacation packages, car rentals, etc. with Chase’s travel agents in their Cruise and Tour department. You can even book a Disney vacation package using PIN or other targeted offer from Disney, and transfer it over to Chase to pay the balance with UR points.

However, Chase has a rule called 5/24 that restricts many of their more rewarding cards, including the UR-earning Freedom, Freedom Unlimited, CSP, CSR, CIP, and Chase Ink Business Cash ("CIC") for approval only if you've had less than 5 new credit card accounts opened in the past 24 months.

You mentioned above that your husband has a business. If you’ve ever sold anything online (e.g., eBay, Amazon, Craigslist, Facebook, Etsy), babysat, dog walked, tutored, consulted on anything, done independent contractor work, you have a business too! If you have any plans to start a business, you might also qualify. Business credit cards are great because they often come with higher bonuses than personal cards, and issuers also tend not to report business cards to your personal credit report so they don’t show up when Chase is trying to count how many credit cards you’ve opened in the past 24 months. In other words, business cards are a great way to reap the rewards but not have a card count against the 5/24 rule that Chase uses to restrict approval for their more rewarding credit cards.

As for Chase’s business cards, I would really suggest you consider applying for the Chase Ink Business Preferred (“CIP”). It carries a big 80,000 UR points bonus after a $5,000 minimum required spend (“MSR”) in 3 months with a $95 annual fee (“AF”). (The cardholding spouse should eventually refer the other spouse for their own CIP for another 80k UR signup bonus and a 20k UR referral.) The CIP won’t add to your */24 count.

The main reason I’d recommend the CIP is because of Plastiq. Plastiq is a bill payment service that lets you use a credit card to pay almost any kind of bill with a 2.5% fee. Use your credit card to pay Plastiq the amount due and a 2.5% fee, and Plastiq will send the payee a check, electronic payment, or ACH.

Currently, and for some time now, Plastiq has been earning 3x UR on what seems like all categories of expenses paid on the CIP. It’s the only card known to do this (this could change at a later date as with anything else in this game). Plastiq charges a 2.5% fee for payments made with credit cards, but the 3x UR (equal to 3¢/$1) earned on the CIP would put you ahead if you decide you want to redeem your UR points (1 point = 1¢) for cash to pay off those fees.

If your tax bill is due next month, it might be a good idea to start with the CIP because this card should earn you 3x UR on the $6,000; the CSP and CSR will not. That tax bill will also knock out the CIP's $5k MSR in one go! Easy 80k UR after your first statement.

To use your example, if you have a $6,000 tax bill to pay, Plastiq would charge you a 2.5% fee (or $150) if you wanted to pay with a credit card. You’d pay Plastiq $6,150, but if you charged it on a CIP then you’d earn 3x UR on the amount due and the fee (or 6,150 x 3 = 18,450 UR points, worth $184.50 in cash back, or $276.75 towards travel if the UR points are moved to a CSR). Basically you are buying 1 UR point worth 1¢ for 0.81¢. If you decide to keep the points and transfer them to the CSR, they are worth 50% more when redeeming on the UR portal, so 3x effectively becomes 4.5x worth that more than offsets the 2.5% fee. That’s a pretty good deal!

People here use Plastiq to pay tuition, student loans, car payments, rent, utilities, contractors, the IRS, state and property taxes. However, not all mortgages can be paid using Plastiq. Amex and Visa both have imposed strict restrictions against paying mortgages using their cards through Plastiq. So being able to get a payment through to your mortgage company on a Visa or Amex card is more the exception to the rule. To comply with Amex and Visa's guidelines, Plastiq has essentially blacklisted most mortgage companies as "recipients" if you're using an Amex or Visa card. Smaller banks and credit unions may have slipped this blacklist. Mortgage companies that don't sound like they have anything to do with mortgages may still work, like "Mr. Cooper." And it's possible to change the name and address of the recipient to sneak your payment through to your mortgage company. However, the big banks and mortgage holders/servicers -- like Chase for you -- are very likely blocked.

If you plan to use Plastiq, please consider signing up through a DISchurner’s link. This will give you $500 “fee free dollars” — basically, Plastiq will waive the fee on your second $500 spent through them after you’ve made your first $500 in payments. Likewise, if you do decide to apply for any cards, I’d encourage you to look through DISchurners’ links, and if you see a link from one of the many wonderful people here who’ve already given you great advice, please consider giving back by applying through their link.

We're here if you have more questions, and good luck!

 

[Lain]

@wendow, your new avatar is really throwing me off. Why are you dressed like Drizella?!

 

[wendow]

So much great help here!!! I really appreciate everyone taking the time to explain things.
I’ll find the DIS churners and get on that for the links. I’ll start with the CSP and CSR for both me and DH. I’ll have to look at CIP further...not sure it would make sense to even try getting my mortgage through since it’s with Chase and that seems pretty obvious. Maybe I’ll want the freedom unlimited at some point. I don’t think the regular freedom would be worth the trouble since we don’t spend a whole lot on gas (and the 4% we get back using our Costco card is pretty good) and I hardly buy any groceries outside of Costco.

You will want to pm @Albort or @SouthFayetteFan for access to the DISchurners group. It's a private group.

I think @pillow was trying to get a mortgage through Chase using her CIP and plastiq so maybe she could shed any light on if that is happening for her.

Between dh & I, we have the CIP, CSR, Freedom and freedom unlimited. We used to have a CSP but I only wanted it for the bonus points so it's long closed. My favs are the CSR, CIP and freedom. I love my freedom. I have the Costco card too and no doubt, it's great for gas but when the freedom category is gas, that is 5% plus I move the points to my CSR for a 50% bonus and now, those points are worth 7.5%. Groceries are certainly not going to be a good category for you if you mostly buy all at Costco BUT sometimes warehouse clubs are a 5% category. So, don't write the Freedom card off just yet but you have plenty of other cards to keep you busy for awhile so you can take time to research what might work best for your family.

 

[wendow]

@wendow, your new avatar is really throwing me off. Why are you dressed like Drizella?!

I now have an air of mystery about me lol!

 

[Lain]

So it seems I need to do CSR and CSP on the same day. Can DH do them same day too? When do we do CIP? How far apart should these be spaced?

As I wrote above, if you have a $6,000 tax bill due next month, you have every reason to start with the CIP first because this card should earn you 3x UR on the $6,000+fees; the CSP and CSR will not. That tax bill will also knock out the CIP's $5k MSR in one go! Easy 80,000 UR after your first statement.

Chase has a 0/30 rule for its business cards -- to be approved, you can't have made any other credit card application with Chase in the preceding 30 days. So if you want the CIP, you want to approach your application with a clean slate in the past 30 days.

For personal cards, Chase will typically approve 2 credit cards in a 30 day period. So if you want to double dip the CSP+CSR on the same day, make sure you don't have any other applications with Chase in the preceding 30 days. If you applied for the CIP first, make sure more than 30 days passes before trying to double dip the CSP+CSR.

To double dip the CSP+CSR:

Start applying early during regular business hours of a non-holiday weekday in case you need to call Chase reconsideration or verification departments.

For personal cards, be sure you're not running afoul of the 2/30 rule: you can only have two applications every 30 days or you'll likely be rejected.

Apply for the card you want first. If you aren't auto-approved and perhaps got the we'll let you know in 30 days message, call the automated status line at 1-800-432-3117 after an hour to check the status of your application. If you still aren't approved, call recon at 1-888-270-2127 to get it approved.

After that first card is approved, use a different internet browser or an incognito window for the second application, otherwise Chase may combine the apps thinking they're accidental duplicates. If it isn't auto-approved, call the automated status line after an hour, and if you still aren't approved call recon to get it approved.

ETA: There's really no reason why DH can't double dip the CSP+CSR on the same day you do. However, note that the CSP+CSR would carry a combined MSR of $8k in the same 3 month period for both cards. If you and DH both get your own CSP+CSR, that's 4 cards each with a $4k MSR that you'll have to meet in the same overlapping 3 month period.

Besides the large MSR on 4 cards you'll be taking on, I'd really recommend one spouse doing a double dip first, then generating referral links that the other spouse can use to apply for their double dip second. By referring your spouse for the CSP and CSR, that's another 10,000 UR bonus points per card for your household.

 

[Sun_soakin]

Lain - great explanations, thank you so much! I’ll have DH open the CIP right away so we can use it for that tax bill...I can pay it directly w/ a cc and incur a 2.5% fee (no plastiq)...would that still code as 3% w/ CIP?
Yes, I will definitely use the member links. You’ve all been awesome!

 

[Sun_soakin]

As I wrote above, if you have a $6,000 tax bill due next month, you have every reason to start with the CIP first because this card should earn you 3x UR on the $6,000+fees; the CSP and CSR will not. That tax bill will also knock out the CIP's $5k MSR in one go! Easy 80,000 UR after your first statement.

Chase has a 0/30 rule for its business cards -- to be approved, you can't have made any other credit card application with Chase in the preceding 30 days. So if you want the CIP, you want to approach your application with a clean slate in the past 30 days.

For personal cards, Chase will typically approve 2 credit cards in a 30 day period. So if you want to double dip the CSP+CSR on the same day, make sure you don't have any other applications with Chase in the preceding 30 days. If you applied for the CIP first, make sure more than 30 days passes before trying to double dip the CSP+CSR.

To double dip the CSP+CSR:

Start applying early during regular business hours of a non-holiday weekday in case you need to call Chase reconsideration or verification departments.

For personal cards, be sure you're not running afoul of the 2/30 rule: you can only have two applications every 30 days or you'll likely be rejected.

Apply for the card you want first. If you aren't auto-approved and perhaps got the we'll let you know in 30 days message, call the automated status line at 1-800-432-3117 after an hour to check the status of your application. If you still aren't approved, call recon at 1-888-270-2127 to get it approved.

After that first card is approved, use a different internet browser or an incognito window for the second application, otherwise Chase may combine the apps thinking they're accidental duplicates. If it isn't auto-approved, call the automated status line after an hour, and if you still aren't approved call recon to get it approved.

ETA: There's really no reason why DH can't double dip the CSP+CSR on the same day you do. However, note that the CSP+CSR would carry a combined MSR of $8k in the same 3 month period for both cards. If you and DH both get your own CSP+CSR, that's 4 cards each with a $4k MSR that you'll have to meet in the same overlapping 3 month period.

Besides the large MSR on 4 cards you'll be taking on, I'd really recommend one spouse doing a double dip first, then generating referral links that the other spouse can use to apply for their double dip second. By referring your spouse for the CSP and CSR, that's another 10,000 UR bonus points per card for your household.

Thank you!!! It’s crazy how many tricks there are! I’ll open CSR/CSP for me and CIP for DH and then wait a month and do the opposite. That should be a lot of UR to get me started!

 

[Lain]

Lain - great explanations, thank you so much! I’ll have DH open the CIP right away so we can use it for that tax bill...I can pay it directly w/ a cc and incur a 2.5% fee (no plastiq)...would that still code as 3% w/ CIP?
Yes, I will definitely use the member links. You’ve all been awesome!

Are you talking about paying the county website directly? I'm pretty sure that won't earn you 3x UR even with CIP.

There's something particular about the way Plastiq codes on the CIP that earns all Plastiq transactions 3x UR. (Fair warning that merchant codes can and do change occasionally, so Plastiq may not earn 3x UR on the CIP forever; but all the latest data points are that Plastiq transactions made on the CIP are still earning 3x UR.) You'll have to pay your property tax bill through Plastiq with the CIP selected as method of payment to earn 3x UR.

If you need any help figuring out the CIP application or how to set up and send payment through Plastiq, don't hesitate to post and ask. We're here for you!