Money Matters
bparkhur
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
What do you guys think of this credit card?
https://creditcards.chase.com/a1/sapphire/reserve
It looks like a good deal from what I can tell because if you get the card now, you would get a $300 travel credit this calendar year AND a $300 credit next calendar year. It appears you also would get approximately $1500 worth of travel money as a one-time bonus. Plus other perks.
There's a $495 annual fee, but it still seems worth it, right?
And no, I never carry a balance!
It looks like a good deal from what I can tell because if you get the card now, you would get a $300 travel credit this calendar year AND a $300 credit next calendar year. It appears you also would get approximately $1500 worth of travel money as a one-time bonus. Plus other perks.
There's a $495 annual fee, but it still seems worth it, right?
And no, I never carry a balance!
See my swapping feedback: http://bumpfeedback.proboards.com/index.cgi?board=ac&action=display&thread=13
Re: What do you guys think of this credit card?
I'm also adverse to annual fees for credit cards, but I'm starting to come around if the benefits outweigh the costs.
It seems like it would be a good card for you, if you do enough traveling to make it worthwhile. It definitely sounds like a great deal in the beginning. Getting a $300 airline bonus this year and next year is brilliant. But in years 3 and onward, assuming the same $495 fee with a $300 airline credit, are the other benefits as compared to other cards going to make up for that $195 "shortfall"?
Of course, you could always close the card toward the end of next year. I try to keep opening/closing cards to a minimum, but realize that is a personal preference.
The $300 travel credit for 2016 posted immediately. I have some hotel bookings for Spain that I haven't made yet, and I'm waiting until January so I can use the 2017 credit on it.
We have used the lounge access 4 or so times since getting the card in September, and it's a really nice perk if you fly a lot. H likes it so much that he wants to keep the card for year 2 just for that.
Obviously the bonus points are a huge perk. These are worth north of $2,000 if you transfer the points directly to travel partners.
Primary car rental insurance is a nice perk. We rent cars 2-3 times per year, and this card allows us to not have to buy the car rental's own insurance. I would say that saves us $40-$50 per rental. It saves us a lot more than that for overseas rentals where the insurance costs are much higher.
If you spend a lot of money on travel (interpreted broadly) and eating out, the 3x points is pretty huge. H and I average around $500/month in reimbursable expenses for travel and dining for our jobs. We also spend most of our discretionary income on travel and dining. Win-win.
No foreign transaction fee, obviously, and the travel insurance on the card is really good. I didn't buy separate insurance for our trip to Amsterdam, and that saved us $120.
My favorite thing? When I call customer service a live human being with an American accent answers on the first ring.
This is a keeper for us. But we travel and eat out a lot, both for business and pleasure. We left the country three times in the last 12 months, and we have two more trips planned for the first half of 2017. The points, lounges, and insurance really make the card valuable to us. For you guys, I suggest keeping it for the first year and then seeing if you make enough use of the soft perks to keep it for a second year.
The 3x points on travel and dining also code correctly for overseas purchases. This is kind of a big deal if you leave the country a lot. Between hotel charges, train tickets, taxi/uber, and dining, most of the money we spend overseas is in the travel/dining category. Premium cards from other issuers (sneeze: AmEx) don't always give you bonus points for non-US spending.
We just used the $1,700 in rewards to book tickets and hotels in Amsterdam for March 2017.
DH just applied and was approved for it too. I will use it pay for spring tuition for grad school. We plan to go to Hawaii with his $1,500 in rewards.
FWIW, we travel three times a year and eat out occasionally. The fee will only be $150 after the travel credit, so it's worth it to us to have for at least a year if not two.