Here is something that really hacks me off

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kdm31091
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Re: Here is something that really hacks me off

Postby kdm31091 » Tue May 05, 2015 9:54 am

Nixon wrote:
lobbythis wrote:I still don't see it.

A Ritz and Prestige, but you have $9K out on a lowly Ring. And $1K cash advance? Because, we all know the best way to get cash is from a CC.

If you are pulling cash from CC's, you definitely don't need to be getting 2 cards with with AF's totaling $845 and not 0% intro. I have the RC and was immediately billed the AF in the first month. You're worried about 1% statement credits on $8K, but drilled yourself another $845 into debt plus that sweet $1K cash advance.

What kind of logic is this if not obsession/addiction?


Cash advance was in Vegas. I never carry a debit card.


Really no financial expert will say that getting a cash advance is EVER a good idea. If you are pulling cash from your cards (come on...it's a 1% reward...not that serious), you need to look at your finances IMO.

If your money was so tight you needed an advance on your CC, why in the world do you have so many high AF cards?

1% statement credits should not overshadow having sensible control over finances. Not saying you do or you don't. Just that a cash advance is a bad path IMO. I get it -- you want to eek out every reward. But you don't need to abandon all logic while doing so. Even if you don't carry a debit card, you could have taken out money prior to the trip, which is what most people would likely have done.


Nixon
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Re: Here is something that really hacks me off

Postby Nixon » Tue May 05, 2015 10:04 am

CarefulBuilder14 wrote:While I have two R-C people active on the thread...some questions about that...

1. How many hotels participate in that $100 hotel credit offer...only R-C properties or also Marriott-brand ones?
Are there blackout dates or properties for it? Can you use the credit multiple times per year, or do you just get one credit per year?

2. Does the Gold/Platinum status from $10k/$75k spending give a big boost to lifetime status with Marriott? Or that doesn't affect lifetime status?

3. Are there any factors that would make the R-C less useful at Marriott-branded properties than at R-C ones?

The Marriott card doesn't do much for me, but R-C might since the Marriott properties I stay at have tended to be higher-category ones. I can't use the Marriott card's free night easily, but Gold status could be good. I haven't done a detailed analysis yet of the value of $10k spending on R-C vs. other cards. It probably would say that using other cards is better, since the 5.5/2.2/1.1 Marriott reward points wouldn't be worth too much for me.

Any other general thoughts on the card?


Only RC, and Gold/Platinum is only for that year. If you spend lots of dough at Marriott properties this card is great.
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Nixon
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Re: Here is something that really hacks me off

Postby Nixon » Tue May 05, 2015 10:13 am

kdm31091 wrote:
Nixon wrote:
lobbythis wrote:I still don't see it.

A Ritz and Prestige, but you have $9K out on a lowly Ring. And $1K cash advance? Because, we all know the best way to get cash is from a CC.

If you are pulling cash from CC's, you definitely don't need to be getting 2 cards with with AF's totaling $845 and not 0% intro. I have the RC and was immediately billed the AF in the first month. You're worried about 1% statement credits on $8K, but drilled yourself another $845 into debt plus that sweet $1K cash advance.

What kind of logic is this if not obsession/addiction?


Cash advance was in Vegas. I never carry a debit card.


Really no financial expert will say that getting a cash advance is EVER a good idea. If you are pulling cash from your cards (come on...it's a 1% reward...not that serious), you need to look at your finances IMO.

If your money was so tight you needed an advance on your CC, why in the world do you have so many high AF cards?

1% statement credits should not overshadow having sensible control over finances. Not saying you do or you don't. Just that a cash advance is a bad path IMO. I get it -- you want to eek out every reward. But you don't need to abandon all logic while doing so. Even if you don't carry a debit card, you could have taken out money prior to the trip, which is what most people would likely have done.


Cash advances don't get a 1% reward. This was pure convenience and testing ease of use as far as Cash advances go with this card. I also don't travel with large sums where I am unarmed. (long distance travel)

There is a Chase branch near the strip as well but honestly, I didn't feel like pulling the rental car out of Valet and driving there, not to mention the Branch was closed by the time we touched down in LV.

I have the large AF cards largely to "test drive", also the initial signup bonus mitigates the cost of the annual fee if unwaived for the first year. A few of them will get consolidated, downgraded or closed outright if they fail the test of longevity. Certain ones like IHG, Hyatt, Marriott Premier have inherent value in their annual fee and will be kept long term.
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kdm31091
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Re: Here is something that really hacks me off

Postby kdm31091 » Tue May 05, 2015 10:19 am

Nixon wrote:
Cash advances don't get a 1% reward. This was pure convenience and testing ease of use as far as Cash advances go with this card. I also don't travel with large sums where I am unarmed. (long distance travel)

There is a Chase branch near the strip as well but honestly, I didn't feel like pulling the rental car out of Valet and driving there, not to mention the Branch was closed by the time we touched down in LV.

I have the large AF cards largely to "test drive", also the initial signup bonus mitigates the cost of the annual fee if unwaived for the first year. A few of them will get consolidated, downgraded or closed outright if they fail the test of longevity. Certain ones like IHG, Hyatt, Marriott Premier have inherent value in their annual fee and will be kept long term.


Not trying to insult you, but what would make it not "easy"? Any CC will be happy to give you an advance and make it as "easy" as possible because typically they charge ridiculous APR for it (outside of the Ring card).

I know you said something about a 1% reward, it must be with the BTs which I didn't think you cared too much about BTs as I thought you were a PIF type of person (if one is constantly needing BTs, rewards cards make little sense anyway because carrying a balance negates rewards). Again not trying to over generalize with you, I'm just confused.

Nixon
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Re: Here is something that really hacks me off

Postby Nixon » Tue May 05, 2015 10:28 am

kdm31091 wrote:
Nixon wrote:
Cash advances don't get a 1% reward. This was pure convenience and testing ease of use as far as Cash advances go with this card. I also don't travel with large sums where I am unarmed. (long distance travel)

There is a Chase branch near the strip as well but honestly, I didn't feel like pulling the rental car out of Valet and driving there, not to mention the Branch was closed by the time we touched down in LV.

I have the large AF cards largely to "test drive", also the initial signup bonus mitigates the cost of the annual fee if unwaived for the first year. A few of them will get consolidated, downgraded or closed outright if they fail the test of longevity. Certain ones like IHG, Hyatt, Marriott Premier have inherent value in their annual fee and will be kept long term.


Not trying to insult you, but what would make it not "easy"? Any CC will be happy to give you an advance and make it as "easy" as possible because typically they charge ridiculous APR for it (outside of the Ring card).

I know you said something about a 1% reward, it must be with the BTs which I didn't think you cared too much about BTs as I thought you were a PIF type of person (if one is constantly needing BTs, rewards cards make little sense anyway because carrying a balance negates rewards). Again not trying to over generalize with you, I'm just confused.


The BT's weren't from balances being carried for any significant period of time. They were from spend bonus cards with a nearing statement date. I applied for the Ring under the 1% BT bonus offer as a way to double dip. If not for that offer, I probably would have waited until summer to apply for it. $80 may not seem like much, but it paid for our rental car in LV. :p

The first BT was paid within 26 days of it posting on the Ring, The current BT will also be paid within that time frame. Without the 1% statement credit it would function like an extended grace period with a small amount of interest tied to it.

8% is better than 15%+ :)
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CarefulBuilder14
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Re: Here is something that really hacks me off

Postby CarefulBuilder14 » Tue May 05, 2015 12:19 pm

Nixon wrote:Only RC, and Gold/Platinum is only for that year. If you spend lots of dough at Marriott properties this card is great.

Good to know it's R-C properties only. Maybe I'll get it for one year in the not-too-distant future when the status will be useful.

I wish there was some sort of mid-tier card between Marriott Premier and R-C that had perks useful for high-category Marriott properties. I'd happily pay a higher AF for more flexible free night options.
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Re: Here is something that really hacks me off

Postby amex007 » Tue May 05, 2015 4:04 pm

Nixon wrote:The BT's weren't from balances being carried for any significant period of time. They were from spend bonus cards with a nearing statement date. I applied for the Ring under the 1% BT bonus offer as a way to double dip. If not for that offer, I probably would have waited until summer to apply for it. $80 may not seem like much, but it paid for our rental car in LV. :p

The first BT was paid within 26 days of it posting on the Ring, The current BT will also be paid within that time frame. Without the 1% statement credit it would function like an extended grace period with a small amount of interest tied to it.

8% is better than 15%+ :)


I would not be applying for a Ring card just to get a 1% BT bonus. Such a waste of time for a card you dont really want. But they have a low APR at 8% so thats good.
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Nixon
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Re: Here is something that really hacks me off

Postby Nixon » Tue May 05, 2015 4:12 pm

amex007 wrote:
Nixon wrote:The BT's weren't from balances being carried for any significant period of time. They were from spend bonus cards with a nearing statement date. I applied for the Ring under the 1% BT bonus offer as a way to double dip. If not for that offer, I probably would have waited until summer to apply for it. $80 may not seem like much, but it paid for our rental car in LV. :p

The first BT was paid within 26 days of it posting on the Ring, The current BT will also be paid within that time frame. Without the 1% statement credit it would function like an extended grace period with a small amount of interest tied to it.

8% is better than 15%+ :)


I would not be applying for a Ring card just to get a 1% BT bonus. Such a waste of time for a card you dont really want. But they have a low APR at 8% so thats good.


And so far it is my lowest APR card.

My next lowest at this point is my AMEX Blue Sky at 11.50%
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