[Flying Ace]

Originally Posted by BayMoWe335

Yes, but who cares about the APR?

agreed, but read his question and context carefully. He doesn't need to borrow b/c he holds a AMEX Gold which is a charge card. He's asking whether Chase card is a credit card.


But I agree with your point that, those who churn these points like us, the golden rule is: NEVER EVER EVER EVER EVER Carry a balance. EVER.

If you need to carry a balance, this isn't a hobby for you or you're doing it wrong.

Originally Posted by John Tanglewood

This card looks awesome, but it has an APR right?

I am coming from an Amex Gold which I have a little over 300k points on, but I have been contemplating the switch to Platinum for the travel. I like how there's no APR with the Amex.

Would you give me your thoughts?

yes. Chase cards are credit cards, e.g., you CAN pay minimum balance and CAN carry an outstanding balance where they apply a APR, i.e. "borrowing".

AMEX is purely a charge card, meaning you owe that amount at the end of the month or you're suspended, and it goes into delinquency and/or collections and have adverse hits on your credit, even if you're $1 delinquent.

[Flying Ace]

Originally Posted by Z K

I wonder if this is worth getting even if you don't travel much?

Most of the benefits seem oriented towards travel and the annual fee is rather high.

generally no. Most enhanced benefits are redeeming for travel categories for enhanced bonuses. Using points just for a 1-for-1 statement credit = "you're doing it wrong".

this guy wrote the general concept:

Originally Posted by BayMoWe335

100,000 points is worth even so much more than $1500. 100,000 points transferred to Singapore Air miles can get you a first class suite on the A380 for 75,000 miles to Tokyo. That ticket can be $18,000.

The base 100,000 points is worth about $1000 in statement credits or gift card redemptions, but if you redeem for travel through transferring points to airlines, you can redeem for flights worth $18,000 with that same $1000 worth of points.

So that's where that "enhancement" comes in to play. B/c to get $18,000 worth of "cash back" in statement credit, you need to spend $1,800,000 at a 1% earning rate, $900,000 at a 2% earning rate, etc on standard cash back cards.

[Z K]

Originally Posted by Flying Ace

generally no. Most enhanced benefits are redeeming for travel categories for enhanced bonuses. Using points just for a 1-for-1 statement credit = "you're doing it wrong".

So that's where that "enhancement" comes in to play. B/c to get $18,000 worth of "cash back" in statement credit, you need to spend $1,800,000 at a 1% earning rate, $900,000 at a 2% earning rate, etc on standard cash back cards.

Makes sense. I fly maybe once a year... wouldn't really work for me. I'll stick to my citi double cash card.

[Flying Ace]

Originally Posted by Z K

Makes sense. I fly maybe once a year... wouldn't really work for me. I'll stick to my citi double cash card.

yep, the best no annual fee card on the market...

If you want to dabble in these things, I wouldn't do the AMEX or Sapphire ones yet. Those are the big leagues and it's complicated regarding points transfers, scoping out redemptions etc. Also AMEX is a one shot lifetime deal, you get it once, and you can never get that bonus again if you cancel and reapply.

You should stick to tangible redemption cards first if you're a newbie, mostly hotel credit cards that gives you free nights. For example:

1. Marriott Rewards Credit Card - $75 annual fee - gets you 1 free night every year + 75,000 Marriott points (about 6 free nights at Marriott). You can you transfer Marriott points into airline points, etc, but most people don't and you take a hit on the points as it's not a 1:1 transfer.

2. Hyatt Credit Card - $95 annual fee - gets you 1 free night every year + 1 time bonus of 2 free nights at ANY Hyatt. Yes, that includes the $1300/night Park Hyatt in NYC. (also other sign up bonuses like $50 one time statement credit and 5000 extra Hyatt points or about another free night redemption)

As you can see with both credit cards, the annual fee, while not waived on years 2 and beyond, pays for itself with free hotel stays. The bare minimum you'll spend in any Marriott or Hyatt brand is $90-$150 per night. So in other ways, you can see it as prepaying at a discounted rate for that hotel stay once a year.

I have a kid right now, and we do much less travelling, and I still find ways to at least use the free night every year, b/c we do go to weddings, or sometimes I pay for my parents' stay somewhere, etc.

[Z K]

Originally Posted by Flying Ace

yep, the best no annual fee card on the market...

If you want to dabble in these things, I wouldn't do the AMEX or Sapphire ones yet. Those are the big leagues and it's complicated regarding points transfers, scoping out redemptions etc. Also AMEX is a one shot lifetime deal, you get it once, and you can never get that bonus again if you cancel and reapply.

Yeah, looks interesting.

I do some things like sign up for the sign up bonuses. I've had 3 Freedom cards including the new Freedom Unlimited. Each time its a $150 bonus. I just cancel and do it again in 2 years.

[Flying Ace]

Originally Posted by Z K

Yeah, looks interesting.

I do some things like sign up for the sign up bonuses. I've had 3 Freedom cards including the new Freedom Unlimited. Each time its a $150 bonus. I just cancel and do it again in 2 years.

well there you go... low hanging fruit...I can't even be bother by that.

I had mentioned before you cancel, you need to increase your credit line in the same amount you're about to lose.

[GotNotch]

Thanks for posting this. I just signed up for it. It's a great deal.

[Josh (PA)]

I read page 1 and page 4 of the thread, so forgive me if I missed the answer to this, but can the 100,000 points be transferred to *lets say* my United Premier FF program and qualify me for 1k status for 2017? Or do the points only go into my bank of FF miles that I can redeem for future travel?

I don't travel as much in my current position as I used to, and I miss my 1k status.

[BayMoWe335]

Originally Posted by Flying Ace

generally no. Most enhanced benefits are redeeming for travel categories for enhanced bonuses. Using points just for a 1-for-1 statement credit = "you're doing it wrong".

this guy wrote the general concept:



The base 100,000 points is worth about $1000 in statement credits or gift card redemptions, but if you redeem for travel through transferring points to airlines, you can redeem for flights worth $18,000 with that same $1000 worth of points.

So that's where that "enhancement" comes in to play. B/c to get $18,000 worth of "cash back" in statement credit, you need to spend $1,800,000 at a 1% earning rate, $900,000 at a 2% earning rate, etc on standard cash back cards.

Right, I totally get it...you're just agreeing with me?

[MKSixer]

Originally Posted by Flying Ace

agreed, but read his question and context carefully. He doesn't need to borrow b/c he holds a AMEX Gold which is a charge card. He's asking whether Chase card is a credit card.


But I agree with your point that, those who churn these points like us, the golden rule is: NEVER EVER EVER EVER EVER Carry a balance. EVER.

If you need to carry a balance, this isn't a hobby for you or you're doing it wrong.



yes. Chase cards are credit cards, e.g., you CAN pay minimum balance and CAN carry an outstanding balance where they apply a APR, i.e. "borrowing".

AMEX is purely a charge card, meaning you owe that amount at the end of the month or you're suspended, and it goes into delinquency and/or collections and have adverse hits on your credit, even if you're $1 delinquent.

Certain Platinum and Centurion card customers have lines of credit that are similar to credit cards. Typically goes with those that have real unlimited lines of credit on the cards.

[kprocivic]

You guys know a shit ton about the card. Which is weird cause i haven't seen any marketing yet for it.

This card replaces the palladium card we use to offer fyi.

[Flying Ace]

Originally Posted by BayMoWe335

Right, I totally get it...you're just agreeing with me?

Correct, just showing ZK that the value is redeeming for travel, not statement credit

[Flying Ace]

Originally Posted by MKSixer

Certain Platinum and Centurion card customers have lines of credit that are similar to credit cards. Typically goes with those that have real unlimited lines of credit on the cards.

Not me!

[BayMoWe335]

Originally Posted by Flying Ace

Correct, just showing ZK that the value is redeeming for travel, not statement credit

Yeah, if you're using these points for cash, you're doing it wrong.

[BayMoWe335]

Confirmed: Increases original $35k limit to $60,000 without problem (moved other credit on other Chase cards to Reserve). They will do another hard pull for over $35k but it doesn't affect bonus.

[BMW F22]

Originally Posted by BayMoWe335

Confirmed: Increases original $35k limit to $60,000 without problem (moved other credit on other Chase cards to Reserve). They will do another hard pull for over $35k but it doesn't affect bonus.

I must ask: what is the use for such high CL? I can't imagine buying anything more than $10k on a card and paying it off at month end.

[hl0m4n]

Originally Posted by MKSixer

Certain Platinum and Centurion card customers have lines of credit that are similar to credit cards. Typically goes with those that have real unlimited lines of credit on the cards.

this is correct: depending on your spending habits & status with platinum, amex can offer you a line of credit so the charge card turns into a hybrid charge/credit card; gives you the flexibility of continuing to pay full statements but if needed can transfer balances over w/ APR.

all centurion members have a very high lines of credit to unlimited (crazy example: http://nypost.com/2015/11/18/billion...or-the-points/).

Originally Posted by BMW F22

I must ask: what is the use for such high CL? I can't imagine buying anything more than $10k on a card and paying it off at month end.

the high CL purely depends on your spending habits and history with the card. i personally spend avg $7k a month and have a max CL of $40k without requesting more with amex plat and selected for line of credit.

Originally Posted by kprocivic

You guys know a shit ton about the card. Which is weird cause i haven't seen any marketing yet for it.

This card replaces the palladium card we use to offer fyi.

the palladium is comparable to centurion and by invitation only. avg net worth of a palladium member is ~5m liquid assets to be considered.


in sum, all cards comparable to amex plat will have a feature better from slightly lower annual fee, extra points on purchases, higher air credit (biggest downside to amex plat imo as most cards allow the credit to be used on virtually anything even an air ticket vs amex where you must select an airline and only applies to seat upgrades and in air stuff, although there are loop holes buying gift cards to get reimbursed regardless), 4th night free hotel, etc but i stick with amex due to their customer service.

without a doubt their customer service is superb and their concierge service has never let me down.
their centurion lounges are definitely worth it too if available in your airport.

[kprocivic]

Originally Posted by hl0m4n

the palladium is comparable to centurion and by invitation only. avg net worth of a palladium member is ~5m liquid assets to be considered.

Like i said this card replaces the palladium card. We no longer offer the palladium anymore.

[BimmerRookie]

Originally Posted by Josh (PA)

I read page 1 and page 4 of the thread, so forgive me if I missed the answer to this, but can the 100,000 points be transferred to *lets say* my United Premier FF program and qualify me for 1k status for 2017? Or do the points only go into my bank of FF miles that I can redeem for future travel?

I don't travel as much in my current position as I used to, and I miss my 1k status.

I don't think so. I believe most airlines requires you to have spent money on "qualifying miles and flights" to earn status, instead of transferring points from one to another. Correct me if I'm wrong, because if I am I could be in a very different place with several programs.

[David70]

Originally Posted by Flying Ace

You should stick to tangible redemption cards first if you're a newbie, mostly hotel credit cards that gives you free nights. For example:

1. Marriott Rewards Credit Card - $75 annual fee - gets you 1 free night every year + 75,000 Marriott points (about 6 free nights at Marriott). You can you transfer Marriott points into airline points, etc, but most people don't and you take a hit on the points as it's not a 1:1 transfer.

As you can see with both credit cards, the annual fee, while not waived on years 2 and beyond, pays for itself with free hotel stays. The bare minimum you'll spend in any Marriott or Hyatt brand is $90-$150 per night. So in other ways, you can see it as prepaying at a discounted rate for that hotel stay once a year.

I have a kid right now, and we do much less travelling, and I still find ways to at least use the free night every year, b/c we do go to weddings, or sometimes I pay for my parents' stay somewhere, etc.

I am a Mariott Rewards member and have thought about getting this card.

Couple of things - $85 a year, 80,000 points, one free night is after the first year so 1st year the points, 2nd year free night. Only way you are staying anywhere close to 6 nights is not at a Mariott but maybe one their cheapest brands if you book way in advance and stay rural.

[Supra2k6]

Originally Posted by Z K

Makes sense. I fly maybe once a year... wouldn't really work for me. I'll stick to my citi double cash card.

i get this you can make your points go a long way here if you are a frequent flyer.

but wouldn't this work for the person traveling once twice a year?

$300 reinbursted every year for travel. so essentially making the Yearly fee $150. BTW i'm no expert.

[BimmerRookie]

^ If you eat out a ton and take big, once-a-year trips it would still be worth it.

FWIW, yesterday I went to my bank and was instantly approved for one. So I'll post up some pics when it arrives. Apparently, it comes in a leather bound box with some nice presentation.