this post was submitted on 03 Jul 2023
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Finance

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Money Monday Discussion Thread: Monday July 3rd, 2023 (self.finance)
submitted 1 year ago by gyrfalcon to c/finance
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Howdy! After the success of last week's discussion thread, I figured we should keep going. Feel free to comment below with anything and everything money related that is better suited to a conversation or a quick question and answer than a full post. Some ideas include:

  • Journaling about an ongoing job search
  • Asking for ideas about how to manage an emergency fund
  • Logging recent stock trades
  • Talking about the impact of inflation on your budget
  • Your plans for maximizing the rewards on a credit card

Again, those are just suggestions, if there’s really anything you’d like to talk about related to finance in your life, feel free to put it here.

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[–] shanghaibebop 3 points 1 year ago (3 children)

Curious if we have a large enough churning community here to create our own community.

It's a pretty decent personal hobby of mine, usually on the order of 5-10k/yr worth of SUB/MS and banking rewards a year.

Happy to share some knowledge here as well if others are interested.

[–] psudo 1 points 1 year ago

Personally I'm not into churning, but I think having guides and resources for those that are sound like a great idea!

[–] gyrfalcon 1 points 1 year ago (2 children)

I'm not sure how much churning we have representation for, given c/Finance is already on the smaller end, but could definitely be a good one to split out as activity increases!

I would be interested in you sharing some knowledge. I have been working on assembling the Chase Trifecta for maximizing my day to day spending into rewards points, but I haven't seen any offers that look good enough for a true churn to get and cancel or forget about the card after. I'm familiar with MS as manufactured spend in churning lingo, but what is SUB?

[–] shanghaibebop 2 points 1 year ago (1 children)

On the same topic, I get a decent amount of information on new account bonuses and offers but don't know if this community would be the right place to post them. It seems a bit out of the pattern since most of the posts are financial news related rather than personal finance or those types of topics.

[–] gyrfalcon 2 points 1 year ago

This would definitely be the right place! I've been putting in a lot of finance stuff I find in my day to day since that's easy to make a lot of posts with, but personal finance is welcome as well.

[–] shanghaibebop 2 points 1 year ago* (last edited 1 year ago) (1 children)

SUB: sign up bonus.

For Chase, this is my 2p strategy:

  1. Churn all the flavors of business ink every 24 months, this is the highest ROI on SUBs alone. MS for SUB spend usually is very simple through buying groups. 2P so this is a new card every 3-4 months between the 2 of us.
  2. CSR is useful for me since I don't have / am too lazy to product switch into the ritz carlton card and I like the priority pass restaurants since I travel semi-frequently for work.
  3. Used to churn CSP for points, but now it's 48 months, so I've moved my focus all over to the business side.

I have actually put a lot of daily spending onto BILT card. The 3x dining and points on ACH rent is just too sweet of a gravy train to pass up on. Since my primary chase point usage is to Hyatt, BILT is worth it. Would highly recommend BILT due to their roughly equivalent transfer partners with Chase. If they keep this up, it might make me abandon chase for my daily spend.

Overall spending optimization for me:

Plat for airfare

Hyatt business and personal, which I MS to help hit globalist status as well as the free nights

Gold for grocery and dining (depending on if I need amex points more or hyatt points more)

BILT for dining and rent (100k+ points / year for me)

Chase ink prefferred or Chase CSR for hotel.

VentureX for rental car and the 300 travel credit.

[–] gyrfalcon 2 points 1 year ago (1 children)

How do the business cards work? Like I don't have a business, do they even care or will they let me have a business card anyway?

Also the BILT card looks really nice, but every landlord I have had so far wants payment via Zelle, which isn't supported :/

[–] shanghaibebop 2 points 1 year ago* (last edited 1 year ago)

  1. They don’t check THAT hard.

  2. For Bilt It’s worth it if it can work out. It’s been extremely good to me these past 2 years.

[–] Ongar 1 points 1 year ago (1 children)

I'm unfamiliar with the churning term, what is the idea behind that?

[–] shanghaibebop 1 points 1 year ago (1 children)

Sign up for new card, hit bonus, move onto next card, cancel the card after 12 months.

[–] Ongar 1 points 1 year ago (1 children)

Huh that seems involved. Doesn't that affect your credit score? Also don't you have to spend a lot of money to get those bonuses?

[–] shanghaibebop 1 points 1 year ago

Depends. I never dip below 750 so it’s not as big of an impact as people think.

For spend, organic spend if you have a business can be sufficient, or if you manufacture spend.