Help a newbie with his points strategy :)

Discussion in 'Newbies' started by swngair, Jan 7, 2012.  |  Print Topic

  1. Hi guys! I'm new to the points game but I've been doing a lot of reading. Please critique my strategy.

    Situation: Currently in Argentina, but going to be living in the SF Bay area in June.

    Goals for the year: travel to asia in style. Visit friends in NYC and throughout the US.

    I have excellent credit and my current cards are:
    1. Amex Premier Rewards Gold (acquired last May and have around 25k points)
    2. Capital One Venture (the light no-annual-fee version).
    3. An old bank card that I don't use.

    Here's what I'm considering:

    1. Chase Sapphire Preferred ($3000 spend in 3 mo.): 50k points.

    2. Amex Platinum ($3000 in 3 mo.): I will definitely use the $200 fee credit, so I'd be paying $250 for 50k points and an ego bump. It may not be the best deal, but now that I'm on the points bandwagon, I expect I'll be getting some use out of those airlines clubs.

    3. The 2x50k Citi AA cards (2x$2500 in 4 mo.).

    Questions:

    1. I should be able to use the the 100k American points for roundtrip first/business class to Asia and the Sapphire points for a hotel stay right? (via transfer to Hyatt).

    2. Would it make sense to transfer Amex points to Delta on a promo to use for domestic travel?

    3. I'm going to wait a few months for the platinum upgrade, but does it make sense to sign up for the other three at the same time to reduce the number of credit inquiries?

    4. Anything I'm missing? SPG looks great but I'm waiting for a >10k bonus.

    Thanks so much!

    swngair

    [edit to clarify my questions]
     
    yaychemistry likes this.
  2. yaychemistry

    yaychemistry Silver Member

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    The Chase Sapphire might be a good choice since you'll be living in Argentina, and the card doesn't have any foreign transaction fees. I'm not sure if the Amex Plat or PRG do. The 50k Chase UR points are great because they transfer to Marriott, Hyatt, or PC points or you to United for great *A awards to Asia.

    Unfortunately, you can't get status by transferring points. There's a distinction by the airlines between RDM (redeemable miles) and EQM (elite qualifying miles). Credit card miles are almost always RDM. The only time you can earn EQM from a credit card are with the airline's co-branded cards, though they're usually limited to a 5,000 EQM per year and there are often a few extra hoops to jump through to get the EQM.
     
  3. Yaychemistry, thanks for the info!

    In that case it sounds like I shouldn't worry about airline status, because I don't fly that often.
     
  4. yaychemistry

    yaychemistry Silver Member

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    I'm not really sure about the upper limit for applying, as I don't churn too much. However, I have heard that Chase is pretty stingy at allowing multiple cards at once. I believe that its best to wait at least 90 days (or could be longer, someone else could correct me if I'm wrong) between Chase applications. As far as the others... I think that's more a function of how your credit score can hold up to multiple inquiries.
     
    Toula likes this.
  5. Toula
    Original Member

    Toula Gold Member

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    Have you thought about what your destination in Asia would be? You might want to check which hotels you want to stay at and work out your points aspirations from there.
     
    yaychemistry likes this.
  6. yaychemistry

    yaychemistry Silver Member

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    Oh, I forgot the most important thing: Welcome to Milepoint!
     
    swngair likes this.

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