A few years ago I became mildly intrigued with the credit card game. It's a convoluted process where "players" apply for new credit cards just to get the sign-up bonuses (miles or points) and also arrange their purchases to earn as many points as possible. They then jump through hoops to use the points to do things like upgrade to business class on an international flight. You see people posting in the FB group about taking their two kids on an Emirates flight with a little private suite.
I looked into it and even started an online course. Eventually I decided it wasn't for me because 1) I don't actually spend that much money. A lot of people into this game are already doing a lot of business travel and funneling that through their own cards. Some have their own businesses and so they'll apply for a business card and funnel enough purchases through that to get the signup bonus. 2) I live in the Twin Cities where Delta has a virtual monopoly at the airport. So in terms of using miles for flights, I'm probably already doing the best I can by having an Amex that's linked to Delta Skymiles. 3) I decided I wasn't willing to go to the max effort to funnel expenses through a credit card. Some of these folks will go so far as to figure out ways to put their rent or mortgage or property tax on their credit card.
So I dropped the idea, but then a couple months ago I started seeing rumblings that Chase was going to be offering a 100,000 point signup bonus for their VISA card. This is rare - signup bonuses are generally more like 60,000 points. I decided what the hell, I was going to go for it. My credit rating is excellent, so I was approved immediately. I funneled all of my routine online payments to the new card. I put all of my incidental expenses from the NYC trip on the card (not minor, given how expensive it is to dine out in NYC). And, I had been thinking about replacing my mattress for a while, so I got cooking on that and pulled the trigger on a new mattress (which we love).
End result, I qualified for the 100,000 points long before the three month deadline.
Meanwhile I've been dealing with a slowing dying computer. I bought my iMac in 2017 (can't believe that's eight years ago already!). I was in need of a new device after I retired and I realized that this iMac with a giant screen was actually less expensive and higher powered than an Apple laptop. I didn't feel like I particularly needed something portable (I take an iPad when I travel). So I bought it and it's been great. BUT it has been slowing down. Normally that was fixed by doing a system update, but I recently realized it has obsolesced to the point where I can no longer do OS updates. 😡
Also, now that HWD is living with me, having this big device on the kitchen table literally puts a wall between us! Sure, I could shove it aside when he's sitting on the other side of the kitchen table, but it's a hassle and given that the device is limping along anyway...well, I had the idea in my back pocket of buying a new laptop if I needed more expenditures to qualify for the signup bonus.
Then I learned that one of the things you can shop for through Chase Rewards is Apple products! Voila, once I got the signup bonus, I applied the points to the order of a new Macbook Air. It didn't cover the whole thing (especially once taxes were added) but I ended up with about $240 out of pocket, not bad.
Now I'll start using the Amex again so I can earn Delta skymiles.
Do you play the credit card game?
Speaking of games, check out the new Community Games. CommunityGames's Blog You might win a free gold membership for a month!
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21 comments
A small business owner I know does something similar with smartphone contracts. He said taking advantage of campaigns paid for phones for his family.
Nice!
I haven't used a signup bonus in years, I have one credit card that I earn airline miles on, (thank goodness Philly is a hu
and one that gives me 1-5% back on a lot of categories I use regularly. If I saw a really good one, I may apply but honestly it's doubtful. Great deal on your new computer!!
I had only two cards for years and years - a credit union VISA and a Delta branded Amex. Now that I have a third one I expect I’m done.
I never have personally but used it in business (back when I was still in the real world). We would pay one vendor (over $30K a month) with the credit card. We got an extra 30 days to pay and 30K air miles. Each month we gave an employee an airline ticket.
What a nice way to share the rewards with the employees. Where I worked, there were few employees who did a significant amount of travel. When we did, the usual practice was for the employee to pay for it and then get reimbursed after submitting an expense report.
People who were so broke that they couldn't front the costs had the option of asking for a cash advance, but we really hated that in the accounting department! It was rarely accounted for correctly...
@smartasswoman At present I can use the university card for advance purchases (airlines). Other costs I pay and get reimbursed (hotel etc). Most of our employees at that employer were from central america. It was a way for us to give them tickets home once a year.
I probably should play, but just reading all the twists and turns makes my head hurt. Likely a true sign of age!
That was my reaction to it once I started reading up on it. But, for this one instance at least, I was able to make it work for me.
I've never played any credit card games. I don't use my credit card nowadays.
Sometimes that's the most sensible way to go.
You played the game well. I do some of that by piling all my bills on a credit card to get cash back, but I need to be retired to play the grown-up game. Lol.
Yes, I think it's pretty time consuming to keep everything straight for the people who are into this in a big way. I suppose it's a hobby like any other hobby, but I'd rather use my free time to knit or do yoga lol.
Especially for the redemptions - people are spending endless hours online searching out a once in a lifetime deal on a flight. There is even a secondary industry that's sprung up where you can pay a service to search out redemption flights for you.
We have a card that Cowboy uses for expenses such as fuel for vehicles and any of his online spending. Its paid in full every month and has a big cash back the first year.
Previously he had a Harley card that he used the same way and amassed tons of points that gave him hundreds of dollars back.
We don't hustle it but we like the modest kick back. And since we don't accrue interest, its a win-win situation.
Sounds like you have it figured out nicely!
👍
As a retired bank employee, I already get great perks with my one card, so there isn’t much incentive to chase sign-up bonuses. I played the new Community Game for fun since I have a gold membership.
I agree, if you're happy with your perks there's not much reason to branch out.
That is not a game for me. I learned long, long ago to keep my credit card usage to a minimum. I do local merchant rewards and get reduced gasoline prices, free meals, etc.
Very good to know your own financial style and what works for you! HWD is much the same, he uses a debit card most of the time - I assume because he's leery of losing track and running up a balance.
I do not really play the game. We do put our day to day expenses (gas, groceries, eating out, travel, etc) on our BoA card that offers a small percentage cash back. We pay it off every month. A few times a year, I get a couple hundred bucks back (which I take as a statement credit lowering my next payment). I don't feel like it is a "win" at the "game" per se...But better than a kick in the teeth I suppose. We never put anything on the card where a venue charges extra for the priveledge. I have read that more and more places are doing that. Even more annoying are the places that are going cashless. I don't like putting small purchases on the card - ugh.
That's pretty much where I was at before I got this new card - had a VISA from my credit union, no annual fee and a percentage cash back that got applied against my balance owed. And paid in full every month, of course.
I resisted putting the small stuff on my card for a long time - it just seemed inefficient somehow - but I've come to realize it really is easier for the business most of the time (even with credit card processing fees).
Good for you, I'm glad you got something good out of those points.
I have exactly one credit card. I use in only in emergencies, though I do buy a little something every now and then, then pay it off so it keep that credit score nice.
That’s a good way to do it. I do pay off my balances in full every month.