Hey Daniel! I had a video idea that i think would be interesting to see: when to use points/miles and when to opt for paying cash. I found myself trying to book a trip to japan recently and the worry about "wasting" points by redeem at low rates is very real. Thank You!
Hey check out this video here on redeeming Bilt Points: How To Redeem Bilt Points For Max Value (Easy) ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-pD6fG4skbZ4.html All of my points redemption guides cover how to analyze this, so check it out! Also even though that video is about Bilt, the advice can be applied universally
On that last point, earn and burn. This will vary person to person. Low earners who don't have a lot of points to begin with, perhaps stretch the burn a bit. For mid to high earners, absolutely use the points.
@@soapa4279 yeah I think this is something I didn’t get to go into as deep as I could - but agreed. It’s important to know your earn rate of points. The easier it is for someone to earn a lot of points quickly, the faster they should use the points (in general)
One important thing to remember with points is not to hold onto the points indefinitely as they tend to devalue. Knowing when and how to use them is half the game. Good summary as usual and thanks.
That makes sense. As inflation rises, the miles/points someone earned a few years before decline in value. It makes to make sure to use points every few years if not more frequently.
100% agree! Always gotta find ways to use the points and not save them for too long because of devaluation. Saving for a year or a little more is fine if there's a specific redemption that someone is saving for - but always gotta watch out because the features and benefits can change quickly
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Hey Daniel. I love this video! Not only does it impart valuable wisdom to newbies to the credit card game, but it is also a creative approach that I haven’t seen any other RU-vidr use. Excellent job!
Thanks Anthony! Yeah I'm trying out some new ideas and this was a topic that I thought would be interesting to make - I had a lot of fun writing this one!
Like you mentioned, I feel like we've slowly and strategically built a pretty solid credit card base. We started off with the Wells Fargo Autograph card, with 3% on gas, groceries, and dining for a $0 fee. We then added the Amex platinum for all of its travel benefits. Last week, we just added the US Bank Shopper Cash Rewards card for 6% back at 2 retailers, and another 3% on wholesale stores (Costco). It feels like all of our spending categories are getting rewarded appropriately 😊
i like how you point out things that high level credit users are doing to maximize and you also explain why they do it. this is just as informative as entertaining :D
Thanks Stan! Yeah this has been a video I've wanted to make for a while to mix things up. Great to meet you in NOLA as well and hope to meet up again in the future!
Earn and Burn is such good advice the temptation to save up and save up just for the points to become devalued when you could be taking full advantage of those unused points to gain experiences and memories with your loved ones. Thank you for all the great advice as always Daniel!
Top 1%... I do love those business class flights... but got 2.3 cpp on economy flight for 7 to Peru. Not my best CPP redemption but taking my parents, mother in law, wife and kids to Peru.... priceless.
Patience and strategy were really hard for me when I got started 4 years ago. Once I got into the game I just wanted to keep going and really burned myself with 5/24. Live and learn. Great vid Daniel!
Yeah same here haha, I definitely could have been a bit more patient when getting some of my cards early on! Thanks for watching and great to meet you last weekend!
This was a good list. Earn and burn on great experiences is more important than fixating on cents per point. I see from this video you've flown both BA business and AF business. Which did you enjoy more? Great meeting you last week. All the best!
Thanks JP, appreciate it man! Totally agree - and yeah did both of those and would definitely say BA was better. Great service and just a more comfortable and more modern feeling seat. I wanna try out the newer Air France business class as well though. Was very great meeting you in New Orleans! Hope all is well
The best part of points and miles for my wife has been redeeming for lie-flats to New Zealand, Chile, Singapore, England, etc. Sleeping at the Waldorf-Astoria, Ritz, etc. don't impress her as much as sleeping on a long-haul flight.
I'm terrible at "burning" the points. And it got worse during COVID. I'm hoarding way, way too many points. Especially Hilton & Marriott points (I personally feel like Hilton are the worst points on the market....). But hopefully we'll start traveling again soon and can use up some of the balance b4 the brands devalue them yet again.
Yeah it's easy to collect a lot of points and then have a hard time finding ways to use certain ones - especially Hilton and Marriott which can be harder to find deals for depending on the use. But still, better to have them so that your next trip can be a lot cheaper than just paying cash!
@@Daniel_Braun Hilton points are really 💩. I found IHG points (both valued at .005) to be much better in value with many .008+ valuations while it seems Hilton is never over .005.
Good job, you missed #11- the American Imperial tactic - using US credit cards to obtain instant high status and take that overseas - I'm earned lifetime platinum and titanium with Marriott, but I'm Gold with Hilton and Dimond with IHG based on credit cards. Points, cash rate and status goes way further almost everywhere where Americans do not frequent - so almost everywhere except Western Europe. Same with lowly United Silver status - decent in the USA, much better the few times you can take United overseas.
Great to know I am at that top 1% lol. Totally agree on the part where don’t concentrate on the point values redeeming for business class. We are family of 4 and we are very happy to do Econ for peak travel seasons since we have kids in school and we are not too flexible on dates. I will do 50k one way to Seoul during Xmas time. It is almost impossible to get 4 biz for the family anyways so I am not going to stress about that. 😊
Hey Daniel can we get a video on Chase Trifecta vs Capital One Duo + Citi Custom Cash? I'm fairly new and want to stay within the 5/24 before deciding anything.
Hey Daniel, I’ve been getting a lot adds for a called max rewards. An interesting idea for a video would be a round up of maxrewards vs awardwallet, and any other type of reward tracking tools.
Great video, Daniel! Have you redeemed any flights with a stopover yet? I feel like they are a powerful redemption tool that hasn’t been well covered yet by the community.
I haven't personally had to book any stopover redemptions yet because I'm fortunate that I live in an area in the Northeast where I've got PHL, EWR, JFK, and BOS as easy large hubs to travel out of. So usually I'll drive to one of those major airports or book a cheap positioning flight to one and then fly nonstop from there. But yeah stopovers can be a great tool as well! I'll have to cover that in a future video 👍
@@Daniel_Braun Great point. Next time you’re planning to spend time overseas in Europe or Asia maybe think about it some more. I’m also located in a US Hub, and I’m going to Zurich in a few months. I want to spend some time in London too to visit a friend. It thought it would be great to manage that all on the same ticket (and potentially realize some good value). You’re always leading the community with fresh content, so I thought I’d float the idea!
So for #8 currently capital one has a bonus with flying blue. I have no plans as of now to use points on flying blue at least for the next year as I have already other vacations planned, do you think it would be good to use some of my venture X points now and just hold them over in flying blue for awhile or just skip this round?
Do you think there are any credit cards that you don’t know about that would be worth getting? Like is that even possible or do you literally know of every best card for everything. For example. I’m looking for no annual fee specific category cards that are high percentage. The custom cash where you get 5% on your top category is great. I have been looking for others at 4 or 5% on a category of my choice, but haven’t been able to find one. I am about to apply for the TD Cash Credit card where I can chose any category of my choosing to get 3% and another to get 2% but that just doesn’t excite me much. Do you know of anything?
Here's a video I made about some really underrated cards that could help you out: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-J-826MltuoY.html Citi Custom Cash is great like you said as well!
Depends if you made full payment every month and you have a high credit score. If yes for both then you have a high chance of getting accepted. I would know since I did the same exact thing.
I would say that after around 9-12 months of using the Discover It, then you could try going to Chase with the Freedom Flex. By then you'll have built a history of on time payments and responsible usage to help your credit score. I would say that it's also important to have an income to report on a Freedom Flex application. If you can't get approved for the Freedom Flex, then another option is to build a relationship with Chase by getting the Freedom Rise card first which is designed for early credit card users
Is there a reason why on your website you have none of the Chase cards as your top cards for any category? Chase is all I use so wondering if its not good anymore.
Chase changed some requirements for affiliate links, so they are temporarily unavailable on sites that I can link to at the moment. Should be fixed within the next few weeks though! I still love Chase cards personally, so if you wanna apply for one then you can just use chases website for now 👍
Daniel what are your thoughts on the CapitalOne Savor card that had $95 annual fee being removed, did they remove it because it was too good? Or was it just unnecessary
From what I heard, the Savor card just wasn't too popular. I always liked the no annual fee SavorOne better. The Savor card could be justified for its slightly higher 4x categories compared to 3x - but only IF a certain amount of spending was done each year to cover that 95 dollar fee difference. For most people they'd be better off just getting another sign up bonus to cover that difference for several years with little effort. So to me, it's not too big of a deal that this card went away because the SavorOne is still an amazing card!
