I love credit cards so much! v4.0 - 2021 (see first page for add'l details)

[iujen94]

Did anyone else get an email from Chase this morning with updates to the terms of their biz cards? Among the “highlights” (anyone else concerned?):

 

[GZanta77]

Did anyone else get an email from Chase this morning with updates to the terms of their biz cards? Among the “highlights” (anyone else concerned?):

View attachment 552511View attachment 552512

I wouldn't be too concerned...... I'm sure that language (or similar) has always been there. They are just emphasizing the fact that you do not benefit from consumer protections when using a business card.

 

[havaneselover]

Motley Fool Amex offer for $99 off $99. Stacks with MyPoints and Swagbucks offers to make it a moneymaker ($75-$85). It is > $99 if you have sales tax--I didn't in VA.

MyPoints is pending but no Amex offer email.

 

[miztressuz]

Did anyone else get an email from Chase this morning with updates to the terms of their biz cards? Among the “highlights” (anyone else concerned?):

View attachment 552511View attachment 552512

No, not yet. Your circled section has always been disclosed on business card agreements, on the application, and occasionally listed on statements. I'll have to look back but I think they may have just reworded some of it for clarity. Could they choose to actively look into each transaction? Sure, but I see no value proposition for them. One, it's hard to prove something isn't a business expense. I've bought all kinds of consumer things for businesses for legit business reasons. Almost anything can be justified as being for the business. Two, AFAIK the only downside is to you the card holder if you have any personal charges on it because you have little or no protections for admitted non-business charges. So upside for Chase is they get a swipe fee and then are not obligated to perform any protections guaranteed by consumer laws.

So personally I don't think that part is really changing. I think the bigger "issue" is higher in the cash like transactions where they call out third party bill pay services for potential cash advances. I think that's new, but it's been a while since I read my agreements. Some businesses legitimately use services like Plastiq and now those transactions could be CAs. That's a bummer. And how do they determine what's a third party versus a "service provider"? Some merchants/services use a payments processor rather than creating individual agreements. Offhand for me a few utilities and the tax offices use third party sites to accept CC payments. I hope they don't get blanket considered as third party. Guess we'll see what happens.

 

[RhodyKP]

Hello good people! As I told @SouthFayetteFan in another thread earlier this week, I tried to dip my toe in here about 18 months ago and got really intimidated! I’m ready to give it another go and would be grateful for some advice about how to use credit cards to achieve my travel goals. Here’s some info about me:

Current Cards:

02/13 – AMEX Blue Cash

11/18 – CHASE Disney Premier

07/2019 – CHASE United Explorer (I have since closed this)

07/2020 – SYNCHRONY Verizon Visa

I’ll bet some of that makes you guys cringe lol.

About Me:

I’m a SINK and I’ve recently been trying to get my monthly spend down. It went from about $4600 in 2019 to about $2900 in 2020 and I’m hoping to keep it well under $3k in 2021. I pay off my balances in full, and in fact have favored using my debit cards for years, since I eliminated credit card debt about 9 years ago. The main airports I use are SFO and LAX (I live kind of in between them), but Southwest just started flying out of my local airport, so I’m hoping to take advantage of that. I have no preferred frequent flyer or hotel rewards programs. I’ve never used URs or MRs. I currently have 38,344 MileagePlus miles and only 14,638 AA miles and 1,924 Southwest miles.

I actually love numbers and creating spreadsheets, but I do suffer from paralysis by analysis and the perfect is often the enemy of the good with me.

I used to have my own consulting business as a sole proprietor, and set up an LLC for that purpose, but it has been dormant for a couple of years since I started a different job. I've actually been planning to terminate the LLC. I also like to bake and caught the cookie decorating bug about a year ago and thought I might try creating a side business, but had to put that idea on the way back burner when life got in the way.

My Goals:

I love to travel and would go almost anywhere domestically or internationally. I would love to experience some luxury on a trip once in a while. I have 3 SINK friends who are always up for a trip anywhere and I have sadly turned down more trips than I have been on because I felt like I shouldn’t spend the money (don’t even get me started on what I was wasting my money on!) Now that I have a lot of my spending under control, though, travel is one bucket I am ok spending on (within limits). I would like to go do WDW or DL at least every other year if not every year. My immediate goals are to take my mother to either Hawaii (Aulani?) or on an Alaskan cruise (DCL?), or both, next year, because she’ll be turning 80 and I’ll be turning 50. My long-term goals are to ideally take one international trip and one North American trip a year going forward. Is that too lofty a goal? I have no idea.

Again, thanks for any help you can offer!

 

[alryan]

Hello good people! As I told @SouthFayetteFan in another thread earlier this week, I tried to dip my toe in here about 18 months ago and got really intimidated! I’m ready to give it another go and would be grateful for some advice about how to use credit cards to achieve my travel goals. Here’s some info about me:

Current Cards:

02/13 – AMEX Blue Cash

11/18 – CHASE Disney Premier

07/2019 – CHASE United Explorer (I have since closed this)

07/2020 – SYNCHRONY Verizon Visa

I’ll bet some of that makes you guys cringe lol.

About Me:

I’m a SINK and I’ve recently been trying to get my monthly spend down. It went from about $4600 in 2019 to about $2900 in 2020 and I’m hoping to keep it well under $3k in 2021. I pay off my balances in full, and in fact have favored using my debit cards for years, since I eliminated credit card debt about 9 years ago. The main airports I use are SFO and LAX (I live kind of in between them), but Southwest just started flying out of my local airport, so I’m hoping to take advantage of that. I have no preferred frequent flyer or hotel rewards programs. I’ve never used URs or MRs. I currently have 38,344 MileagePlus miles and only 14,638 AA miles and 1,924 Southwest miles.

I actually love numbers and creating spreadsheets, but I do suffer from paralysis by analysis and the perfect is often the enemy of the good with me.

I used to have my own consulting business as a sole proprietor, and set up an LLC for that purpose, but it has been dormant for a couple of years since I started a different job. I've actually been planning to terminate the LLC. I also like to bake and caught the cookie decorating bug about a year ago and thought I might try creating a side business, but had to put that idea on the way back burner when life got in the way.

My Goals:

I love to travel and would go almost anywhere domestically or internationally. I would love to experience some luxury on a trip once in a while. I have 3 SINK friends who are always up for a trip anywhere and I have sadly turned down more trips than I have been on because I felt like I shouldn’t spend the money (don’t even get me started on what I was wasting my money on!) Now that I have a lot of my spending under control, though, travel is one bucket I am ok spending on (within limits). I would like to go do WDW or DL at least every other year if not every year. My immediate goals are to take my mother to either Hawaii (Aulani?) or on an Alaskan cruise (DCL?), or both, next year, because she’ll be turning 80 and I’ll be turning 50. My long-term goals are to ideally take one international trip and one North American trip a year going forward. Is that too lofty a goal? I have no idea.

Again, thanks for any help you can offer!

Welcome!! Glad you decided to join us. It really is a great group that is happy to help. Most of us here start with Chase as they have a rule that you can't have received 5 or more personal cards in the past 24 months, referred to as 5/24. So looks like you are 2/24. I see a few options for you, if SW will work for you there is an elevated offer for 80,000 points. Info from Doctor of Credit here. https://www.doctorofcredit.com/chase-southwest-personal-cards-80000-points-plus-premier-priority/ I'm guessing that if you've been talking to @SouthFayetteFan you have joined Dischurners on Reddit as there is information there, as well as the opportunity to pay it forward with someone who has helped you. Another option would be to use one of consulting or baking business that you are thinking of starting and doing a Chase business card. These also have some great offers right now. The Ink Preferred might be too high of spend, since you don't want to get into spending more than you want again. But the Ink Cash and Ink Unlimited are both good offers right now. https://www.doctorofcredit.com/targeted-chase-ink-cash-750-public-online-offer/#The_Offer The SW personal would put you at 3/24, while the business card does not count towards 5/24. The SW offer expires 2/8.

 

[RhodyKP]

Welcome!! Glad you decided to join us. It really is a great group that is happy to help. Most of us here start with Chase as they have a rule that you can't have received 5 or more personal cards in the past 24 months, referred to as 5/24. So looks like you are 2/24. I see a few options for you, if SW will work for you there is an elevated offer for 80,000 points. Info from Doctor of Credit here. https://www.doctorofcredit.com/chase-southwest-personal-cards-80000-points-plus-premier-priority/ I'm guessing that if you've been talking to @SouthFayetteFan you have joined Dischurners on Reddit as there is information there, as well as the opportunity to pay it forward with someone who has helped you. Another option would be to use one of consulting or baking business that you are thinking of starting and doing a Chase business card. These also have some great offers right now. The Ink Preferred might be too high of spend, since you don't want to get into spending more than you want again. But the Ink Cash and Ink Unlimited are both good offers right now. https://www.doctorofcredit.com/targeted-chase-ink-cash-750-public-online-offer/#The_Offer The SW personal would put you at 3/24, while the business card does not count towards 5/24. The SW offer expires 2/8.

Thanks! I will check all that out.

 

[Hoosier John]

Welcome!! Glad you decided to join us. It really is a great group that is happy to help. Most of us here start with Chase as they have a rule that you can't have received 5 or more personal cards in the past 24 months, referred to as 5/24. So looks like you are 2/24. I see a few options for you, if SW will work for you there is an elevated offer for 80,000 points. Info from Doctor of Credit here. https://www.doctorofcredit.com/chase-southwest-personal-cards-80000-points-plus-premier-priority/ I'm guessing that if you've been talking to @SouthFayetteFan you have joined Dischurners on Reddit as there is information there, as well as the opportunity to pay it forward with someone who has helped you. Another option would be to use one of consulting or baking business that you are thinking of starting and doing a Chase business card. These also have some great offers right now. The Ink Preferred might be too high of spend, since you don't want to get into spending more than you want again. But the Ink Cash and Ink Unlimited are both good offers right now. https://www.doctorofcredit.com/targeted-chase-ink-cash-750-public-online-offer/#The_Offer The SW personal would put you at 3/24, while the business card does not count towards 5/24. The SW offer expires 2/8.

Sounds like great advice to me.

PS. It took me a while but I "sounded out" SINK (Single Income No Kids).

 

[RhodyKP]

The SW personal would put you at 3/24, while the business card does not count towards 5/24. The SW offer expires 2/8.

Just FYI - per DoC, all three Chase Ink cards (in fact all Chase cards) do count towards 5/24.

 

[havaneselover]

Just FYI - per DoC, all three Chase Ink cards (in fact all Chase cards) do count towards 5/24.

You have to be under 5/24 to get them but they don't count toward 5/24. Unless something has changed very recently.

 

[RhodyKP]

You have to be under 5/24 to get them but they don't count toward 5/24. Unless something has changed very recently.

Ok I was confused but now I see the distinction. Thanks!

 

[RhodyKP]

General question - is thinking about MS too advanced for me rn? I've never been particularly good at learning to walk before I run. When I took up knitting way back when the first thing I made was a scarf and the second thing I attempted was a dress.

 

[Alexle2007]

No, not yet. Your circled section has always been disclosed on business card agreements, on the application, and occasionally listed on statements. I'll have to look back but I think they may have just reworded some of it for clarity. Could they choose to actively look into each transaction? Sure, but I see no value proposition for them. One, it's hard to prove something isn't a business expense. I've bought all kinds of consumer things for businesses for legit business reasons. Almost anything can be justified as being for the business. Two, AFAIK the only downside is to you the card holder if you have any personal charges on it because you have little or no protections for admitted non-business charges. So upside for Chase is they get a swipe fee and then are not obligated to perform any protections guaranteed by consumer laws.

So personally I don't think that part is really changing. I think the bigger "issue" is higher in the cash like transactions where they call out third party bill pay services for potential cash advances. I think that's new, but it's been a while since I read my agreements. Some businesses legitimately use services like Plastiq and now those transactions could be CAs. That's a bummer. And how do they determine what's a third party versus a "service provider"? Some merchants/services use a payments processor rather than creating individual agreements. Offhand for me a few utilities and the tax offices use third party sites to accept CC payments. I hope they don't get blanket considered as third party. Guess we'll see what happens.

That part about the third party service and CA has me concerned also since I typically pay my property taxes via Plastiq. I thought that was the whole point of that service, being able to make a business payment via a CC.

 

[sibesx2]

I am trying to figure out it it is worth it to upgrade my Chase Sapphire Preferred to the Reserve. I have some travel plans coming up so can use the travel credit and am hoping to use the pay yourself back for the higher return. I got my Preferred in 4/1999 so annual fee is due in a few months. How would the annual fee and travel credit work? Would I get the travel credit when I upgrade and then again on the same date next year?

 

[elgerber]

That part about the third party service and CA has me concerned also since I typically pay my property taxes via Plastiq. I thought that was the whole point of that service, being able to make a business payment via a CC.

I was also wondering if this new wording would mean Venmo is now a cash advance?

 

[becauseimnew]

I am trying to figure out it it is worth it to upgrade my Chase Sapphire Preferred to the Reserve. I have some travel plans coming up so can use the travel credit and am hoping to use the pay yourself back for the higher return. I got my Preferred in 4/1999 so annual fee is due in a few months. How would the annual fee and travel credit work? Would I get the travel credit when I upgrade and then again on the same date next year?

I would upgrade today to take advantage of PYB, which I believe is scheduled to end 4/30. If you upgrade today the $300 travel credit is available almost immediately. You’ll new annual fee will be in Feb (possibly Jan) and the travel credit will reset next year not in April.
Have you thought about downgrading your CSP to CF and applying for the CSR?

 

[IFlossU]

I was also wondering if this new wording would mean Venmo is now a cash advance?

Sure sounds like it, huh. Which would be unfortunate as that’s how I pay for landscape and pool repairs etc.

 

[Killer Fish]

Anyone in here playing around with Gamestop or AMC stocks this/last week? I am finding it fascinating.

 

[LilSweetPeaPhoto]

Just a quick check in while I go back and read 10 pages, LOL.

1- The Billion Dollar Mega Millions was won at the Kroger next to the Staples I get my VCG at. Talk about close! Also rumor mill is it's a school of teachers. I'm super jealous it wasn't my school, LOL.

2- My trip to Charleston was great. Living in a lockdown/grounded state, it's nice to have "normal". I got to go out to dinner. I got to go on a "bar crawl" on the various islands. There was sunshine (something Michigan doesn't get in the winter). I'm already ready for my next vaca in Feb!

3- I'm now back in the classroom. It was a crap show on Monday. We're slowly getting things figured out. I have some classes with only 1 student in person. My biggest class has 11 on A days and the same class has 2 on B days I also have the fun of teaching online and in person at the same time. Which is not fun. Oh and getting up at 6:20am and not rolling to my computer in PJs isn't fun!

4- I managed to land my daughter a pretty good deal on a ticket to Dallas for her winter break to see her "other family". Since Feb 2020 she'll have been to TX to see them 4 times now, she also got to go to FL and NC last year (and NJ to see my sister). I swear my 15yo has traveled more than me, LOL.

5- I saw my FNC posted for Bonvoy! And my passport (first ever) comes today! I told my BF we need to hit Mexico for my Feb break! I could use my FNC at the Ritz. He can't plan anything since he has his check ride coming up....Grrrrr. I tell you, dating a pilot isn't as glamorous as I thought, LOL.

Okay back to reading 10 pages.

 

[IFlossU]

Anyone in here playing around with Gamestop or AMC stocks this/last week? I am finding it fascinating.

Just started following along this morning after seeing things posted over the last few days. The Reddit GME thread is a fantastic “read” I found myself cheering for them.