Need a suggestion on which card is out there that fits.

Discussion in 'General Discussion | Credit Cards' started by Mapsmith, Mar 28, 2015.  |  Print Topic

  1. Mapsmith
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    Mapsmith Gold Member

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    We are having security screens added to our house after two breakins. (Alarms work but they don't help until someone has already broken into the house. Screens keep them out to begin with)

    Anyway, the cost is about $10K. We have the cash ready in our liquid account, but I was thinking that the screen company gives us 1 year financing with no interest.

    So. With monthly payments on the $10K loan about $800, and a FICO of over 800. What Credit Card would be a good one to apply for to maximize miles/points.

    We already have AA, HiltonAMEX, SPGAMEX. I normally would just put it on the SPG, but are there any good offers out there now that might be of interest. Like 30,000 or more bonus for 3-5000 in purchases in the first three months?
     
  2. MX

    MX Gold Member

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    Discover Miles (3% rebate on first year's spend).
     
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  3. LIH Prem
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    LIH Prem Gold Member

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    Chase Sapphire Preferred would be a good one to add to that stable (40K UR after 3k spend), but if you can do a business credit card look at Chase Ink Plus offers (50k UR after 5k spend in 3 months). UR transfers to every Chase partner at 1:1 instantly. and you can combine points from both accounts if you have both cards, so you could get 90k UR out of this if you wanted to.

    If you have specific award goals in mind, we'll be able to give you better answers to that question, but without a specific goal, that's what comes to mind.

    -David
     
    Last edited: Mar 29, 2015
  4. daninstl

    daninstl Gold Member

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    Regardless of what you do if you do the financing and then plan to pay monthly it could have a negative effect on your fico score. Most likely the finance source is a secondary lender or in-house loan which may have a heavier weight on your score plus it could show a $10k max and you owe say $10k, $9,200, $8,400, etc. or a high percentage for awhile. Eventually it will come back up. I would pay it off asap with points cards or a cash back card. A good option might be one like AA or others that offer EQM's with enough spend per year plus the miles of course. This also screams for a new high spend requirement card.
     
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  5. iolaire
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    iolaire Gold Member

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    I would also go for a high spend card that you would otherwise have a chalange making the spend to get the bonus. Can you find a 100k Amex platinum offer?
     
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  6. Kalboz
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    Kalboz Gold Member

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    +1

    If you have Chase branches in your state then the sign up bonus is more lucrative, I believe 70K for the Ink and 50K for the CSP plus the $10K spend and the tally will be around 130K UR points. These can be transfer for UA or Hyatt for 1:1 ratio instantly.

    But all this won't make any financial sense if you don't pay it off instantly! :)
     
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  7. Newscience

    Newscience Gold Member

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    This is the bottom line for all credit cards - if you end up with a finance charge because you miss monthly payments, you're always better off simply paying cash for your purchases. And as far as getting points/miles for flights? If you don't pay off your credit cards when they are due, the finance charges will quickly wipe out any likely savings on airline tickets.
     
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  8. satman40

    satman40 Gold Member

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    We are working on the United a Business Card 50k,

    We use United and AA, all cards are on Auto Pay,

    Finance charges will kill you, in 95, I paid off my last financed property, like a monkey off my back.

    With over 50 credit cards, there are still cards I have not aquired,

    This is really a fun game...and a great way to keep score.
     
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  9. Kalboz
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    Kalboz Gold Member

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    I respectfully disagree as the OP already stated that he has the cash to pay it off immediately and the FICO negative impact will be temporary - the "trick" here is to pay it off immediately!
    Another way to get 160K AA miles is to apply for the following, charge the spend, pay off, and collect the miles:
    • Citi AA Platinum Select MC 50K points after $3K spend within 3 months. $0 fee the first year, then $95.
    • CitiBusiness AA Platinum Select World MC 50K points after $3K spend within 3 months. $0 fee the first year, then $95.
    • US Airways Premier World MC 50K points after first purchase. $0 fee the first year, then $89.
     
    Last edited: Mar 29, 2015
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  10. Kalboz
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    Kalboz Gold Member

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  11. Mapsmith
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    Mapsmith Gold Member

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    May have to consider the US Airways Premier MC. With TUS as a home airport, we are limited to airlines. AA, Delta, and WN are the biggies. UA does jungle jets to LAX and DEN. Alaska has one flight a day. Not really worried about a hit on my FICO since it is over 800. And we are not planning a new home purchase or refinance in the near future. Current home will be paid off in three years. Not moving anytime soon. So any hit would be mitigated with a quick payoff AND an increase in Credit Usage.

    Will have to see if the financing will let me use a CC first.

    Thanks guys.
     
  12. miles and smiles
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    miles and smiles Gold Member

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    Mapsmith, the USAirways card will be gone in a matter of days. Also, with that card, the only requirements are to use the card once ($1 purchase is sufficient) and to pay the annual fee.
     
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  13. cvsara
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    cvsara Gold Member

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    Well, without suggesting what card to use, and addressing the two breakins, AND assuming that new screens will keep it from happening again, (Which I doubt), why not try to catch the SOBs? New screens won't stop them from trying again, and again. If your going to spend $10K on screens, why not add a CCTV system? A recorder, and a few cameras, and a week end installing them? Take a look at Something that Costco on line offers. Less than $1K, plus your time, and you will catch who ever they or he, or she are/is. If you do it right, you can cover your entire yard/house.
    I haven't had a breakin, knock on wood, but I have 13 cameras at my home and see everything that goes on when at home or anywhere in the world, and recording it all, too. JMO
     
    Last edited: Mar 31, 2015
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  14. Mapsmith
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    Mapsmith Gold Member

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    Actually looking at the breakins. The screens are ProActive. That means that it will keep out 99% of the bad Guys. Alarms and Cameras are ReActive. They are only good after the bad guys are in. The Screens we are ordering started out as Hurricane Shutters, until someone realized that a screen that can keep out the Hurricane Debris will also keep out burglars with bricks, crowbars, hammers, etc. Supposedly, the screens will also survive being shot with 9MM ammunition. Will put a hole in the screen but only a 9MM hole which most bad guys cannot fit through.
     

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