Get a second card or try to increase CL?

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Kevin86475391
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Re: Get a second card or try to increase CL?

Postby Kevin86475391 » Mon Jun 13, 2016 10:06 pm

Hmm, you might also consider going for the Chase Freedom Unlimited then. You earn 1.5% on all purchases, including dining and travel of course. These accrue Chase's Ultimate Rewards, which are the same points you'd eventually be spending with the CSP for rewards. Thus if you're okay with waiting a bit to get your rewards you can essentially start banking them now and then cash out once you apply for and get the CSP in the future. The Chase Freedom Unlimited should be considerably easier to qualify for than the CSP, and it's not really a waste at all because the two cards really do synergize quite well and many people would want them both for their credit portfolio regardless.


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CarefulBuilder14
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Re: Get a second card or try to increase CL?

Postby CarefulBuilder14 » Mon Jun 13, 2016 10:19 pm

Kevin86475391 wrote:Hmm, you might also consider going for the Chase Freedom Unlimited then. You earn 1.5% on all purchases, including dining and travel of course. These accrue Chase's Ultimate Rewards, which are the same points you'd eventually be spending with the CSP for rewards. Thus if you're okay with waiting a bit to get your rewards you can essentially start banking them now and then cash out once you apply for and get the CSP in the future. The Chase Freedom Unlimited should be considerably easier to qualify for than the CSP, and it's not really a waste at all because the two cards really do synergize quite well and many people would want them both for their credit portfolio regardless.

I think CFU has a $5k minimum CL, just like CSP. That's why I suggested the regular Freedom, which can start with a lower limit. For a thin file, a $2k CL beats a denial.

If OP is also considering Arrival+, Venture, or BofA Travel as alternatives to CSP, though, it sounds like synergy isn't the current priority.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

To My Credit
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Re: Get a second card or try to increase CL?

Postby To My Credit » Mon Jun 13, 2016 10:27 pm

I've recently gotten a Chase Freedom and all this talk about synergy is making me want to get a CSP a couple of years down the line. What I got is that Ultimate Rewards are pretty great and because Freedom and Freedom Unlimited earn UR and UR can be spent with the CSP, they're a great trio of cards to have. For someone who has only ever had cashback cards, my question is, just how valuable are UR? I guess the answer is that "it depends", but what is the best way to use them? What kind of purchases get you the most bang for your UR? And how much value (in terms of $$$) can you get on those purchases per 1 UR?

And is it possible to convert UR to $$$ directly? If so, what's the exchange rate?
Current cards: BankAmericard CR, BankAmericard BBR, Citi Double Cash, Chase Freedom, AmEx BCE, Discover It
Wishlist: US Bank Cash+

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CarefulBuilder14
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Re: Get a second card or try to increase CL?

Postby CarefulBuilder14 » Mon Jun 13, 2016 10:48 pm

To My Credit wrote:I've recently gotten a Chase Freedom and all this talk about synergy is making me want to get a CSP a couple of years down the line. What I got is that Ultimate Rewards are pretty great and because Freedom and Freedom Unlimited earn UR and UR can be spent with the CSP, they're a great trio of cards to have. For someone who has only ever had cashback cards, my question is, just how valuable are UR? I guess the answer is that "it depends", but what is the best way to use them? What kind of purchases get you the most bang for your UR? And how much value (in terms of $$$) can you get on those purchases per 1 UR?

And is it possible to convert UR to $$$ directly? If so, what's the exchange rate?

URs can become cash at 1 cpp.

Transfers to Hyatt Gold Passport can often give a good value (thought not always). The downside is that Hyatt has far fewer properties than, say, Marriott or IHG. I would discourage you from transferring to IHG, since there are many ways to get IHG points cheaply (which is part of why I like the program).

Airline transfers can give a great value, but with complicated fare classes, alliances and award charts, a lot of it is beyond me.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

To My Credit
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Re: Get a second card or try to increase CL?

Postby To My Credit » Mon Jun 13, 2016 11:14 pm

CarefulBuilder14 wrote:Transfers to Hyatt Gold Passport can often give a good value (thought not always). The downside is that Hyatt has far fewer properties than, say, Marriott or IHG. I would discourage you from transferring to IHG, since there are many ways to get IHG points cheaply (which is part of why I like the program).

Airline transfers can give a great value, but with complicated fare classes, alliances and award charts, a lot of it is beyond me.
So, basically, UR give great value on hotels and airlines? I don't do hotels much, so I guess I'd have to look at how they transfer to air travel. And if that's complex, maybe I'd be better off sticking to cashback. Thanks!

And not to pretend things are as simple, but what is the general value you can get on airlines with UR? I know you have a default 20% off, but how much value would you generally get out of, say, 10000 UR when you redeem them for air travel?
Current cards: BankAmericard CR, BankAmericard BBR, Citi Double Cash, Chase Freedom, AmEx BCE, Discover It
Wishlist: US Bank Cash+

charged
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Re: Get a second card or try to increase CL?

Postby charged » Sun Jun 26, 2016 7:56 pm

Since you mentioned you have a good fico score you can probably get one of those rewards cards where they give you a sign up bonus of $100-$150 cash back. I think it's a good deal if you want more credit anyway.



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