Large Purchase Coming... Which AMEX(s) to get???

Discussion in 'General Discussion | Credit Cards' started by Dad to GO, Aug 16, 2012.  |  Print Topic

  1. Dad to GO

    Dad to GO Silver Member

    Messages:
    230
    Likes Received:
    219
    Status Points:
    400
    Hi Everyone,

    I am going to have a large purchase of about $30K in the next month and want to maximize my "return" as much as possible. I am only interested in getting an AMEX card(s) as I already have recently gotten Chase and Citi and don't want to apply for those again. I also do not have ANY AMEX cards other than the Citi AMEX.

    It is possible for me to break the 30K spend up over multiple cards so if there are a couple AMEX cards that you guys recommend I could possibly do that as well. The only card I was thinking about getting so far was the SPG card while it has a 30K bonus.

    Thanks,

    Gary
     
    marcwint55 likes this.
  2. mommypoints

    mommypoints Gold Member

    Messages:
    864
    Likes Received:
    2,476
    Status Points:
    1,145
    Your timing is right for both the business and personal SPG Amex cards since their bonuses are increased for a few more weeks. Seems like a really easy way to end up with a nice amount of SPG points to me. 60K bonuses from the two cards plus 30K from spending. Turning a 30K purchase into 90K SPG points doesn't sound half-bad to me.
     
    MX, IDGflygirl, Mikus33 and 3 others like this.
  3. marcwint55

    marcwint55 Gold Member

    Messages:
    2,517
    Likes Received:
    4,573
    Status Points:
    2,570
    I would second the comments and perhaps you can check to see if it is possible to get the 75k bonus for the gold business card.
     
    IDGflygirl likes this.
  4. edekba

    edekba Gold Member

    Messages:
    3,462
    Likes Received:
    3,783
    Status Points:
    2,145
    or get the Delta Reserve card; 10k MQM on first purchase; another 25k MQM when you spend $30k.

    25k MQM = Delta Silver ...

    but yeah i thin SPG is a better option
     
    MX and mommypoints like this.
  5. tahsir21

    tahsir21 Z Representative

    Messages:
    70
    Likes Received:
    69
    Status Points:
    210
    I would recommend putting $5,000 on each new spg card to get 70K points. Then, if you have an ink bold, do some gift card purchasing with $10,000 giving you 60,000 more points. for the last 10, either put it on one of the spg cards to get gold status or double dip again to get another 60k points
    total haul: 70K SPG + 120K Chase Ultimate Rewards!

    I talk about it more here..
    http://www.bengalimilesguru.com/archives/124/double-dip-your-way-to-a-almost-free-trip/

    creds go to frequent miler :)
     
    pnoeric and IDGflygirl like this.
  6. mommypoints

    mommypoints Gold Member

    Messages:
    864
    Likes Received:
    2,476
    Status Points:
    1,145
    If you can break up the purchase that many times it is a good plan, but I personally wouldn't just run out and load up on $10K of gift cards at once. However, I am a bit conservative on that.......
     
    IDGflygirl likes this.
  7. RPG

    RPG Active Member

    Messages:
    11
    Likes Received:
    11
    Status Points:
    80
    SPG Personal.
     
    Mikus33 likes this.
  8. Dad to GO

    Dad to GO Silver Member

    Messages:
    230
    Likes Received:
    219
    Status Points:
    400
    I'm with you mommy points. I try to keep my gift card purchases to $1000 a month... maybe that's to conservative? I'm thinking I could get the SPG personal and business for myself and also possibly my wife? That word be 120k SPG plus 10k in referral and 30k spend... so 160k total? Do you believe that this is better than trying to get the Amex gold?

    Thanks!
     
    MX, mommypoints and IDGflygirl like this.
  9. IDGflygirl
    Original Member

    IDGflygirl Gold Member

    Messages:
    13,735
    Likes Received:
    21,497
    Status Points:
    16,520
    I don't know if you care about foreign transaction fees, but the SPG AmEx charges 3%, so unless you already have a card that is free of forex transaction fees, you might want to check into at least one card that waives them. Otherwise, I, too, recommend the SPG AmEx personal & biz cards, esp. w/the current increased bonus!
     
  10. mommypoints

    mommypoints Gold Member

    Messages:
    864
    Likes Received:
    2,476
    Status Points:
    1,145
    Now that is a fantastic idea! If you can split the purchase 4 times, then absolutely that is the way to go. Get the biz and personal for you as soon as you can. Then refer her for both. 30K from purchases, plus 10K in referrals, plus 120K from the four bonuses. 160K total. That can't be beat. Yes, I do think that is a better plan in this case than getting the Amex Gold (unless of course you want MR points more than SPG points to meet your goals, but only you can determine that). Otherwise, case closed. ;)
     
    IDGflygirl, pnoeric and edekba like this.
  11. pnoeric

    pnoeric Silver Member

    Messages:
    347
    Likes Received:
    565
    Status Points:
    595
    I am learning so much from his thread...
     
    MX, mommypoints and Mikus33 like this.
  12. infamousdx

    infamousdx Silver Member

    Messages:
    354
    Likes Received:
    466
    Status Points:
    520
    Re: buying visa gift cards & paying with them

    Do you need any sort of purchase protection on said $30K purchase? Important thing to consider.
     
    mommypoints likes this.
  13. edekba

    edekba Gold Member

    Messages:
    3,462
    Likes Received:
    3,783
    Status Points:
    2,145
    the american express prepaid has purchase protection built in i believe.
     
    infamousdx and IDGflygirl like this.
  14. tahsir21

    tahsir21 Z Representative

    Messages:
    70
    Likes Received:
    69
    Status Points:
    210
    thats true, if you can break up the 30k spend over a few months, then 2,500 in gift cards wouldnt hurt per month. Other than that, the idea of getting 4 spg cards is actually a really good idea!
     
  15. FrugalAsianMan

    FrugalAsianMan Silver Member

    Messages:
    63
    Likes Received:
    122
    Status Points:
    275
    You mentioned "purchase", singular. If it's just a single-ticket item that you're purchasing, I would highly encourage that you look to see if the merchant or the item itself is something that would get you bonus points for any of the credit cards. (i.e. does the merchant count as an office supply store? is it a major computer manufacturer that has a bonus points deal with one of the credit card shopping malls? etc.) If you disclose a little bit more info about the purchase, I'm sure the MP Community can guide you a bit on it. (Although chances are, if it's a single $30k item, it's probably not something that'll be generating extra rewards....)

    My personal choice to put a $30k item, if I wasn't able to get any other bonus rewards from the merchant on it, would be to put it on my SPG Business AMEX card and my SPG Personal AMEX card. Depending on what your limits on each are, you may or may not need to split it onto a third card. Check with the merchant to see how many cards they'll let you split the payment to. If the # of cards is a problem, then consider simply charging everything to an AMEX Gold Business charge card or else the Chase Ink Bold charge card. Both are "charge cards" that have "soft" credit limits.

    That means there's no "hard" limit on it. Just call AMEX before you make the purchase and let them know you want to make a $30k purchase and they'll make sure to clear it so that it goes through. Just keep in mind you'll need to pay off the full amount at the end of your statement period.

    The reason why I chose the SPG cards and the Ink Bold card first is because I SPG points are valued at 1.25 points per $1 you spend since for every 20,000 points you accumulate and want to transfer over to an airline, you get a 5,000 point bonus. Both SPG and Ink Bold's Ultimate Rewards have a 1:1 transfer ratio with most airlines. (A definite plus in my book; giving you more flexibility on what you want to do with the points later.)

    In the end, I think it ultimately depends on what your goals are here. Do you need more airline points? Hotel points? Or do you just want more points to be flexible and to send off somewhere later? I think SPG and Ink Bold gives you the best of all three worlds. But if you wanted more points with a specific airline or hotel, and you have a credit card for that program, you might just want to opt with that being one of your cards.
     
    IDGflygirl and edekba like this.
  16. edekba

    edekba Gold Member

    Messages:
    3,462
    Likes Received:
    3,783
    Status Points:
    2,145
    while technically true; just because you inform them that you'll be charging x amount ... that doesn't necessarily means that they'll approve the transaction. There is a "soft" credit limit and anything over depends upon your relationship w/the creditor (ie history of payments, history of usage, annual credit review, etc).

    for example if you have a $2,000 Amex Green and you call them up and say "Hey I wanna buy a Honda Civic w/my amex. My Uncle just gifted me $30k" I doubt Amex will allow it without verifing that you do have the income to support that purchase prior to approving it.

    All this goes moot if you have a Centurion however, as those "soft" limits are usually 6 figure plus.
     
    IDGflygirl likes this.

Share This Page