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Which credit card?
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amother
OP


 

Post Sun, Jan 02 2022, 7:52 pm
I have a very large expense (at least $15k) over the next few months that I can put on a credit card and I'm thinking of applying for a new one to get the most out of it. Does anyone here love playing these games and can help me figure it out? I'm looking at two main options:

Capital One Venture X - Dan's Deals has a huge post about this. There is a 100k points signup bonus if you spend $10k (which I would do.) But that's for travel miles, and I'm not at all sure we're going to have the opportunity to travel after earning them - we'd find a way to use them but cash back would probably be more helpful. Now you can also use these points to buy gift cards including to Amazon, but I'm having some trouble figuring out what the rate is - I have no idea how much Amazon gift card value you can get with 100k "miles" points. I'm also planning some travel BEFORE the bonus points would come through, and this card also gives you a $300 credit for travel and a $200 credit toward airbnb, according to the Dan's Deals post, and I can't seem to find out whether that's effective immediately. If I could use those immediately, then that's a really nice benefit.
The annual fee for this card is $395 which sounds like a ton but IF those credits are applicable immediately and IF the 100k points are worth anything in gift cards, then I could see this being a GREAT idea. But I don't know how to find out those details.
Rewards earning is 2 miles per dollar, and again I'm not sure how the miles translate to cash value. So on my 15-20k expense, I'd get 300-400 points, but I don't know what those are worth.

Chase Sapphire Preferred - Fee is a much more modest $95. Signup bonus is 60k points, which apparently is worth $600 in straight cash back (I do have a free Chase cashback card) None of the other bonuses but very straightforward. Rewards earn 1 point per dollar, which seems to equal 1 cent in cash back. So on my 15-20k expense I would get about $150-$200 of cash back.
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amother
Pearl


 

Post Sun, Jan 02 2022, 8:10 pm
My advice: Do not use a credit card. I have a larger expense that I can use a credit card for but I will not. Credit card debt is a huge risk and I dont think it's worth the few hundred dollars you'll get in rewards. If you have the cash, use cash. Credit card games can be very risky.

I can understand if you swipe the whole thing at once and then pay it off right away, but still wouldnt do it, personally. However you're saying 'over the next few months' so if there's a chance you may not pay the full balance each month, you may end up paying more interest than what you got in rewards.

Just nicely explaining how a huge percentage of people who used your logic ended up in debt.

sorry I know you're looking for a different answer but I just had to warn ya...
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puzzlepieces




 
 
    
 

Post Sun, Jan 02 2022, 8:15 pm
If you're planning on paying it right away then no problem. Otherwise don't do it!
If you don't plan on traveling the venture x is useless. But why only these two options?
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amother
Maize


 

Post Sun, Jan 02 2022, 8:18 pm
Would you be able to state what type of expense you will be incurring 15k ? (unless its private) . Some c/c give more points for specific expenses.
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amother
OP


 

Post Sun, Jan 02 2022, 8:25 pm
I have the money to back the expenditure, I just want to do it through credit cards so I get the bonuses. The expense is taking place over 2-3 months but I can repay it as it comes.

It's not the type of expense that falls into special categories.

To clarify, I do plan to travel, but the travel I am planning is before the bonus points would get credited. However, I could still use the credits and benefits that you automatically get with the card. The question is what the bonus points are worth to me after that.

It's possible I might use the bonus points for some other travel that I haven't planned yet, but I don't usually travel.

I am not going to end up in debt IY"H. I already have the money in the bank. But handing it over straight sounds like leaving money on the table.
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lossetes




 
 
    
 

Post Sun, Jan 02 2022, 8:29 pm
amother [ OP ] wrote:
I have the money to back the expenditure, I just want to do it through credit cards so I get the bonuses. The expense is taking place over 2-3 months but I can repay it as it comes.

It's not the type of expense that falls into special categories.

To clarify, I do plan to travel, but the travel I am planning is before the bonus points would get credited. However, I could still use the credits and benefits that you automatically get with the card. The question is what the bonus points are worth to me after that.

It's possible I might use the bonus points for some other travel that I haven't planned yet, but I don't usually travel.

I am not going to end up in debt IY"H. I already have the money in the bank. But handing it over straight sounds like leaving money on the table.
The chase saphire a month ago had a bonus promotion of 100 000 points . I wouldn't suggest you go now for 60,000 points

Last edited by lossetes on Sun, Jan 02 2022, 8:32 pm; edited 1 time in total
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amother
Maize


 

Post Sun, Jan 02 2022, 8:31 pm
A lot of the chase credit cards give you 10 percent more when you redeem the points for gift cards (only specific ones I don't think amazon is one of them but macy's I think is)
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amother
Maize


 

Post Sun, Jan 02 2022, 8:33 pm
Also I would also suggest you look into cit bank c/c , they have good offers and promotions too !
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amother
OP


 

Post Sun, Jan 02 2022, 8:35 pm
lossetes wrote:
The chase saphire a month ago had a bonus promotion of 100 000 points . I wouldn't suggest you go now for 60,000 points

It has to be now because the expense needs to be paid shortly.
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amother
OP


 

Post Sun, Jan 02 2022, 8:36 pm
amother [ Maize ] wrote:
A lot of the chase credit cards give you 10 percent more when you redeem the points for gift cards (only specific ones I don't think amazon is one of them but macy's I think is)

I have no use for hundreds of dollars that I would need to spend specifically at Macys.
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amother
Maize


 

Post Sun, Jan 02 2022, 8:47 pm
What about citi premier card does that sound appealing to you ?
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amother
Maize


 

Post Sun, Jan 02 2022, 8:49 pm
amother [ Maize ] wrote:
What about citi premier card does that sound appealing to you ?
it's 80,000 bonus points and 95 annual fee.
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amother
OP


 

Post Sun, Jan 02 2022, 9:05 pm
Sounds good, but now I have three cards to compare Can't Believe It Gotta get this done and my head is spinning
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amother
Maize


 

Post Sun, Jan 02 2022, 9:35 pm
amother [ OP ] wrote:
Sounds good, but now I have three cards to compare Can't Believe It Gotta get this done and my head is spinning
Well my point is that the venture is 395 annual and you said you are not a traveler so I wouldn't suggest you get that. The sapphire is $95 annual fee and 60k points and the citi premeir $95 annual fee is 80k points so I don't see why you wouldnt go with the citi .
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stardream




 
 
    
 

Post Mon, Jan 03 2022, 5:56 pm
I really like chase points and how easy they are to use so I think the sapphire is a good choice even if the bonus is not so high. With that large of an expense would you consider doing 2 cards? You can do another chase like a freedom to keep it simple. If you don't want it simple you can do the citi premier or Amex gold if you would use the dining credits.

https://www.cnbc.com/select/ch.....ison/

Many of these have high annual fees and are geared for heavy travelers but this is a great list:
https://thepointsguy.com/guide.....alue/
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amother
Aconite


 

Post Mon, Jan 03 2022, 6:09 pm
What’s the best no fee, cash back card?
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amother
Maize


 

Post Mon, Jan 03 2022, 6:12 pm
amother [ Aconite ] wrote:
What’s the best no fee, cash back card?
my faorites - chase freedom (5% rotating categories) and city double cash back.
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amother
Aconite


 

Post Mon, Jan 03 2022, 8:49 pm
amother [ Maize ] wrote:
my faorites - chase freedom (5% rotating categories) and city double cash back.

Thank you
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boysrus




 
 
    
 

Post Mon, Jan 03 2022, 9:00 pm
if you and your husband both have good credit scores, and if you can split the purchase between two cards, then why dont you both apply for chase sapphire preferred? That way you can both get the bonus. thats what I would do...
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writeread




 
 
    
 

Post Mon, Jan 03 2022, 9:03 pm
amother [ Aconite ] wrote:
What’s the best no fee, cash back card?


CapitalOne QuickSilver -1.5% back
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