Vermonster wrote:Yes Citi can be conservative with their starting limits. But it is all going to be dependent on your income and debt. If you are putting $150k through a card in a month you must have the income to support it.
But I don't see how a Chase wouldn't work for you. What kind of travel do you do? Maybe a BofA cash rewards would work for you then.
I recently signed up for Chase Ink Plus and got the 70k bonus. I own my own business and put about $120k a month on this card. So by the end of my first year I should have well over 1MM Ultimate Reward points.
When I first learned about all of the possibilities with points and "travel hacking", I got pretty excited. A first class suite on Singapore Airlines? A $3k room in a top-end Hyatt? Three round-trips to Central America/Hawaii/Caribbean for just 60k miles (plus a couple of one-way awards)? Sure, sign me up!
Little did I know that actually finding awards on flights—at least the ones I am interested in, anyways—is darn near impossible. For example:
SFO > LHR (May): zero award availability
SFO > AUS (April): awards available if I'm willing to fly red-eye or arrive late at night, or stop 1-2 times
SFO > YKA (May): no award availability without absurd routing
SFO > YYZ (Dec/Mar/Jun/Sep): award available for very late night flight with one stop. Nothing for nonstop.
So then I sign up for ExpertFlyer, thinking that will help me keep on top of United award availability—and find out that they can't track United awards anymore.
Hard not to get discouraged. I'm sure there are plenty of tricks I don't know, but I've done hours and hours of reading blog posts and I even bought an eBook called "Upgrade Unlocked" to try to learn more. So far I haven't been able to purchase a single round-trip ticket that I need to buy with Ultimate Reward points.
So, I've continued using the 1.7 million CapitalOne points for flights. This is far less desirable, because it's forever locked at 2x value (it's a 2% cash back card, and I just buy tickets online and use their "purchase eraser" to apply points to the purchase after the fact). But at least I can get the flights and routes I want.
Maybe the "travel hacking" thing just isn't right for the way that I travel. I strongly prefer nonstops, I often don't have a lot of flexibility around dates, and when I travel for leisure, I am usually with my wife and daughter. All of these factors seem to work against getting awards.
I've considered just using my CapOne card for everything. With the total amount I put on a card across all businesses, I'd earn close to 3MM points a year. That's $30k in points or cash to apply to everything from flights, to meals, to accommodation, to ??
mickeymulch wrote:if you have good credit (800+), you might want to get on the phone with amex. i've heard stories about biz owners calling up amex to see if they have any non published reward programs. a buddy of mine claimed (obviously he had no proof since i didnt ask for his agreement) that he was able to snag a 5 percent cash back biz card just by explaining to a phone rep . maybe its a lot of hoodoo, but i think its worth trying.
samhradh wrote:Fidelity has an AmEx that gives 2% cash back on all purchases. You just need a Cash Management Account account to deposit the funds to. Their checking account is fee free and has no minimum balance.
Consider getting the DoubleCash and paying it off throughout the month so when the statement closes you have reason to ask for a higher CL. Or, assuming instant approval, call their backdoor line ad explain your needs and ask for a higher CL before the card even arrives.
Maybe there is a tiered cash back card out there with an AF that you can justify? AmEx Blue Cash Preferred is the one I'm thinking of. Depends on what you usually buy for your business.
Discover it currently has a promo that for your first year they'll double all the cash back you've earned. Not sure they'd start you at a high CL either, though.
This is a new one for me: Citizens Bank Cash Back Plus offers up to 1.8% cash back if you deposit into a Citizens bank account. Similar to the Fidelity AmEx with slightly better benefits and acceptance as it's a WMC.