Can you elaborate / do post on Chases pay yourself back feature and when to use it? I've been doing the fluz, Citi DC, chase CIC, chase CIU combo for months now but have never used the pay yourself back feature. Is it worth it to use it for all transactions? For some context I don't have the CSR
Way easier than people make it seem. If you're looking to cash out your points at a higher rate...You simply just select charges you want to pay off and can use your points at 1.25X to pay them off...
Note that you can often get significantly higher than 1.25 cents per points with Hyatt redemptions or airlines transfer, so it's up to you...
If you want cash back, PYB is a great feature... If you're gonna play this game long term CSR is a forever hold in my opinion
After reading your 2022 Year-end recap post, I see that there is a new Amex Blue Business NLL offer that gives you 75k SUB for $15k in MSR in 12 months, which is essentially 150k as the card also gives 2x per spend. This seems to me as a great deal as there is no annual fee. My questions are on the employee cards for this offer.
1. There is also an add-on for additional employee cards at 5k MR for $1k MSR, upto 99 additional cards. Will the additional cards be worth it this time around? From your 2022 experience, it seems like it was higher then at 20k/additional card.
2. If we go down this route, the $99,000 spend seems a little high for me, how do we go about spending this much?
The Amex 20K MR deal per employee was what might be a once in a lifetime, wild oppurtunity.
1. We probably won't see the 20K MR /card offer ever again, but never say never. You never know. at a bonus 5K MR per $1K spend, you're looking at 7% back for your spend. 7.7% with schwab card and significant more if you utilize transfer partners to redeem.
7% is obviously not bad and better than 5% back with CIC. You could MS on Citi to turn the 8% back play into 9%-10% back which would be good. But it's not the craziest offer ever...
To be clear, it's a great rate for everyday spend, but not an insane offer by any means...
2. See WasabiBoatResearch's post. He does between $100K -$200K in spending with his biz. That's why I stress to everyone the best time to start a biz is yesterday. With a solid biz you can forget about ever MSing again.
I wouldn't worry about maxing $99K. If you want to earn a bunch of Amex points, I'd just do as much as you can if you want to try to take advantage of this offer
1. I have an ecomm store that will do 100k-200k spend in a year. I want the best card that I can set and forget for rewards. (ie I don't want to do the $200 chunks). What is the sweet spot between not doing a lot of work and good rewards for this scenario?
2. I have a chase southwest card with about 175k miles. Southwest stopped flying to the location I fly to regularly. Is there any way to convert these into cash or something else? Or I can only use for Southwest?
1. $100K-$200K a year is very, very little spend (no offense). I spend more than that with certain MS methods let alone my real businesses. Not to flex at all, just putting things in perspective.
A couple things.
First, you'll be leaving lots of money on the table by not playing the Fluz game, which also allows you a lot more flexibility, but that's fine. That's totally your call.
If you were to only have a couple cards and not use a lot of different ones, you might use something like
Chase ink Business Unlimited for 1.5X UR and Amex Blue Business Plus for 2X MR
However, it's better to get a few cards out, and hit the SUB and move on to a different one...
Totally your call either way..lmk if you have any questions.
2. You can use a points broker to convert these to cash...DM me on Slack
Have you had experience of Apple questioning you when you buy iPhones for resale to buying groups? Any other experiences of retailers questioning if you're churning or trying to arbitrage items
How many credit cards do you have right now? And what cards are you currently working on for bonus goal/ signup
No clue. If I had to estimate, including employee cards it would be somewhere between 150-200.
Working on a P2 CIC and CIU SUB at the moment.
Biggest win right now is accumulating a lot of $200 gas gift cards which will shortly cover free gas through well past the end of 2023.
Can you elaborate / do post on Chases pay yourself back feature and when to use it? I've been doing the fluz, Citi DC, chase CIC, chase CIU combo for months now but have never used the pay yourself back feature. Is it worth it to use it for all transactions? For some context I don't have the CSR
Will do a deep dive posts...
Way easier than people make it seem. If you're looking to cash out your points at a higher rate...You simply just select charges you want to pay off and can use your points at 1.25X to pay them off...
Note that you can often get significantly higher than 1.25 cents per points with Hyatt redemptions or airlines transfer, so it's up to you...
If you want cash back, PYB is a great feature... If you're gonna play this game long term CSR is a forever hold in my opinion
After reading your 2022 Year-end recap post, I see that there is a new Amex Blue Business NLL offer that gives you 75k SUB for $15k in MSR in 12 months, which is essentially 150k as the card also gives 2x per spend. This seems to me as a great deal as there is no annual fee. My questions are on the employee cards for this offer.
1. There is also an add-on for additional employee cards at 5k MR for $1k MSR, upto 99 additional cards. Will the additional cards be worth it this time around? From your 2022 experience, it seems like it was higher then at 20k/additional card.
2. If we go down this route, the $99,000 spend seems a little high for me, how do we go about spending this much?
The Amex 20K MR deal per employee was what might be a once in a lifetime, wild oppurtunity.
1. We probably won't see the 20K MR /card offer ever again, but never say never. You never know. at a bonus 5K MR per $1K spend, you're looking at 7% back for your spend. 7.7% with schwab card and significant more if you utilize transfer partners to redeem.
7% is obviously not bad and better than 5% back with CIC. You could MS on Citi to turn the 8% back play into 9%-10% back which would be good. But it's not the craziest offer ever...
To be clear, it's a great rate for everyday spend, but not an insane offer by any means...
2. See WasabiBoatResearch's post. He does between $100K -$200K in spending with his biz. That's why I stress to everyone the best time to start a biz is yesterday. With a solid biz you can forget about ever MSing again.
I wouldn't worry about maxing $99K. If you want to earn a bunch of Amex points, I'd just do as much as you can if you want to try to take advantage of this offer
thank you ser! makes sense, will take this offer up and see how far I can go with it.
Two questions:
1. I have an ecomm store that will do 100k-200k spend in a year. I want the best card that I can set and forget for rewards. (ie I don't want to do the $200 chunks). What is the sweet spot between not doing a lot of work and good rewards for this scenario?
2. I have a chase southwest card with about 175k miles. Southwest stopped flying to the location I fly to regularly. Is there any way to convert these into cash or something else? Or I can only use for Southwest?
1. $100K-$200K a year is very, very little spend (no offense). I spend more than that with certain MS methods let alone my real businesses. Not to flex at all, just putting things in perspective.
A couple things.
First, you'll be leaving lots of money on the table by not playing the Fluz game, which also allows you a lot more flexibility, but that's fine. That's totally your call.
If you were to only have a couple cards and not use a lot of different ones, you might use something like
Chase ink Business Unlimited for 1.5X UR and Amex Blue Business Plus for 2X MR
However, it's better to get a few cards out, and hit the SUB and move on to a different one...
Totally your call either way..lmk if you have any questions.
2. You can use a points broker to convert these to cash...DM me on Slack
Have you had experience of Apple questioning you when you buy iPhones for resale to buying groups? Any other experiences of retailers questioning if you're churning or trying to arbitrage items
Never had any questions. They'll usually just cancel the purchase without saying anything if you ship it directly to buying groups.
I usually stick to using Amazon and shipping directly to buying groups at this point for the sake of time and easiness.