61–70 of 71 posts
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IIRC uber eats and rideshare also count for the travel credit, so even doing no traveling this year it wasn't very hard to get that full reimbursment.
A lot of people who normally travel a lot don't do those though.
I really don't see why people find it worth it to spend $550/year to get the Reserve. Sure, you get a lot of benefits, but I don't really see how they add up to $550 more in benefits over cards with $0 fee. If I want to buy $550 of airline points, I can do that without this card.
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The churning crowd is all posers, I don't know why it bothers me that much, I think its because if they put that energy onto something actually entrepreneurial that gave them real cash or assets, they could afford to do all the things they brag about subsidizing with points, and still have the points, cards and various status'. Like, they can still subsidize flights and hotels with points, but actually have some fina…
I read somewhere "Chasing points is coupon clipping for middle class", and that resonated deeply for me across all three stages of that behavior.
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I read somewhere "Chasing points is coupon clipping for middle class", and that resonated deeply for me across all three stages of that behavior.
What are the 3 stages lol?
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I'm too practical, to me a fancy expensive looking card is just a fraud magnet.
Chase cards are fraud magnets. The bin is well-known, and Chase is short on card numbers, so people have actually brute-forced credit card numbers. Then they validate them by signing up for free trials of services using credit cards.
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Just did this. Now waiting 4 months to withdraw and close.
4 months for a 0.8% return isn't very good. Better than CDs but your expected return in the market is higher.
For those of you with 100k in stocks sitting around, I'd recommend the BofA Premium rewards card. You need to transfer 100k in stocks to BofA's brokerage but that'll give you a card which gives 3.5% back on dining/travel and 2.65% on everything else. It saves you way more time than juggling points, and I'm much happier after switching to a one card system.
+1 - The BofA Premium Rewards card + Cash Rewards card is all you need. The Cash Reward card allows you to select a 3% cashback category (5.25% back with Platinum tier). I have it set to Gas (choose your biggest expense). The rest goes on Premium rewards card with 2.65% back on everything.
You can change you category once per calendar month. E.g., mine is normally online shopping, but when I needed a leak repaired on my work, I waited until near the end month, flipped the category to home improvement, paid the roofing bill, and then on the first of the next month flipped it back to online hopping.
Without the tiered rewards, it is 3% cash back for the selected category, 2% grocery stores and wholesale clubs, 1% everything else.
The tiers are at $20k, $50k, and $100k in BofA or Merrill checking/savings/investment accounts (3 month average combined balance). First tier gets you 1.25x the base rewards. Second tier is 1.5x. Third tier is 1.75x.
For those of you with 100k in stocks sitting around, I'd recommend the BofA Premium rewards card. You need to transfer 100k in stocks to BofA's brokerage but that'll give you a card which gives 3.5% back on dining/travel and 2.65% on everything else. It saves you way more time than juggling points, and I'm much happier after switching to a one card system.
Chase will give you $2k (in cash) if you open a premium account and deposit $250k in it.
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4 months for a 0.8% return isn't very good. Better than CDs but your expected return in the market is higher.
Is it a cash account or a brokerage? I figured it was an additional .8% to whatever you're already making
"Within 45 calendar days, transfer a total of $250,000 or more in new money or securities to a combination of eligible checking, savings and/or investment accounts (excludes Chase business checking and savings accounts, any You InvestSM, J.P. Morgan retirement accounts and CDs), and maintain the balance for at least 90 days."
But note, another requirement is: "Meet with a Private Client Banker by January 15, 2021 to upgrade your account to Chase Private Client."