Looking at the chart above, it makes me a little nervous. My points are slipping away! No not really, we’ve been doing what we’re supposed to do with points, we’ve been spending them. Having basically used up all our cash back in Europe and new girls’ trip redemption, the total balance of our points is shrinking. That’s okay, that’s what they’re there for!
A Redemption
Jenn booked a girls’ trip to Mexico with her Sister and her Mom. She used 66,000 Delta Skymiles for a round trip flight to Cancun from the Moline Airport for the 3 round trip tickets. Each ticket had $116 in taxes that needed to be paid, and with cash prices for those flights running at $631/ticket, the redemption came out at 2.3 cents per point, which is great considering Skymiles are typically valued by the Points Guy at 1.41 cents per point. She was also able to book 4 nights in a Vacasa rental which costs $1,325 for 54,000 Wyndham points. That makes that redemption worth 2.4 cents per point, easily besting the Points Guy valuation of Wyndham points of 1.1 cents per point. More information about this redemption can be found here.
No New Cards and Shifting Strategies
With Jenn working on the $7,500 minimum spend on her US Bank Business Leverage Card, we haven’t been signing up for any cards. Also, I had Chase offers of 5 points per dollar on my United Explorer Card and my Marriott Bonvoy Boundless Card on categories like gas stations, and restaurants for 3 months, so I’m using those cards to boost my totals in Bonvoy points and United miles right now.
In general, I think we’re going to switch strategies right now. Because of Chase’s 5/24 rule (they won’t approve you for a personal credit card if you have been approved for 5 new personal cards in the last 24 months), as well as some other rules with Capital One, Citi, etc, we are getting to a point of diminishing returns on sign up bonuses. We are somewhat restricted for what we can sign up for because of all of our new personal cards in the last 2 years. This means that a lot of the sign up bonuses that we can get aren’t as good as the sign up bonuses we got in the past. It seems the solution to that will be to slow down on signing up for personal credit cards, until we get back under that magic Chase 5/24 number. That should open up the full variety of available credit cards from all banks and then we will try to stay under the 5/24 rule going forward.
That doesn’t mean that we won’t be signing up for cards. We essentially have a 4 entity household because Jenn and I obviously are two, but each of us have a business as well. She earns all of her money through her business and so far my business is mostly working for no money, which is fine as far as the banks are concerned, and fine for me, at least for now. Business cards typically don’t count against the 5/24 rule, but Chase will check your 5/24 status before issuing a business card, which is confusing. It basically means that if you want a Chase business card, you must be, as an individual, under 5/24 but the new account won’t end up counting against your 5/24 status. That being said, I’m not going to pass on a great offer from a different bank just because I’m trying to get under 5/24. If American Express puts out a huge sign up bonus on a personal card, I might just jump on it regardless of my 5/24 status.
We are also starting to get a bunch of cards with nice bonus categories. Jenn has her Chase Ink Cash card that gives her 5x on streaming services and phone. Because of that we’re sending our spending in that category to her Ink Cash card to boost her Ultimate Rewards balance. Also, she gets 8x on gas on her Wyndham Business Earner card and that’s a no-brainer on fuel fill-ups. The more that we start to push some spending on categories to other cards the less that is available to spend on meeting spend requirements on new accounts for sign up bonuses.
anyway, on to the point check!
Our spending was quite elevated this month, because much of the spending that we had from our trip to Europe finally hit our statements. It was also spread over quite a few accounts, where we could take advantage of bonus categories. Jenn spent $5,600 on her US Bank Business Leverage card, earning $93 in cash back. I spent around $200 on my Citi Premier Card and earned around 400 points. Jenn spent a little over $200 on her Wyndham Business Earner card and earned over 1,300 Wyndham points. I spent around $700 on my Marriott Bonvoy Boundless card and earned around 2,900 points thanks mostly to a 5x offer on restaurants. Jenn earned 500 Ultimate Reward points on a little over $300 spending on her Chase Ink Unlimited Card as well as 2000 Ultimate Reward points on $400 spending on her Chase Ink Cash Card. Jenn earned 1,300 points on a little over $200 on a hotel stay in Chicago on her Marriott Bonvoy Boundless card. She also earned 700 points on her Delta Gold Business card on $350 spending.
After all of those earnings, as well as the redemptions for the girls’ trip, we were left with 278,000 Chase Ultimate Reward points, 83,000 Capital One Venture miles, 69,000 Marriott Bonvoy points, 25,600 Citi Thank You points, 23,600 United Miles, 14,900 Delta Skymiles, 5,300 American Airlines miles, 1,600 Hyatt points and $160 in cash back. According to the valuations by the Points Guy, these points are worth a total of $8,820.
In addition to all of this, we have a category 1-4 free night certificate from Hyatt and Jenn and I each have a 35K point free night certificate from Marriott. These came from holding a credit card past the anniversary date and paying the annual fee. With each of these cards having a $95 annual fee and each of the certificates being worth probably double that, it feels a bit like prebuying a hotel room at a discount, so that’s why we didn’t cancel those cards.
All in all we still have quite a bit of flexibility in where we have our points and miles and we should be continuing to build on that moving forward.
Newby to Expert Traveler 