In today’s podcast episode, we’ll watch as Capital One ventures into business, discuss the best-of-the-best award search tools, and talk about how Wells Fargo is on the upswing.
Wells Fargo journeys forward
Watch here:
Or listen here (or click “Follow” on the player below to select your preferred podcast app instead):
Giant Mailbag
(01:00) – Nate has a tip to add to our Free checked bags via credit cards podcast Ep353
Card News
(04:41) – Capital One Spark Miles rebranded to Venture Business
Learn more about the Capital One Spark Miles rebranding to Venture Business here
Crazy Thing: Choice Privileges
(09:42) – Choice doubled points to Air France/KLM Flying Blue
Read more about the Choice Privileges transfer bonus here
Bonvoyed: AA
(13:03) – AA Bonvoys elite members flying basic economy
Read more about American Airlines doing away with basic economy for elite members here
Awards, Points, and More
(16:42) – We’ve updated our resource “Which award search tool is best?”
Find our “Which award search tool is best” resource here
(26:05) – Amex changes referral limits to 5 per year, per card
Read more about American Express’ referral limit changes here
(29:01) – Wells Fargo adds new transfer partner: Wyndham 1 to 2
Read more about Wells Fargo’s new transfer partner here
Main Event: Wells Fargo journeys forward
(31:13) – Wells Fargo Rewards was a 3rd tier transferable points program
(31:46) – That’s starting to change…
(32:46) – Wells Fargo Rewards advantages
(34:09) – Transfer partners
(37:22) – Wells Fargo rewards credit cards
Learn more about the Wells Fargo Autograph Journey℠ Card here
Learn more about the Wells Fargo Autograph℠ Card here
(43:50) – Wells Fargo cash back cards
(54:45) – Weaknesses
Question of the Week
(50:07) – Nick wonders… if Greg had the capacity to spend towards one single elite status, which would it be?
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Music Credit – “Ocean Deep” by Annie Yoder
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Attune card 4% amazon track?
In regards to the IHG Premier $25 semi-annual United Travel Bank benefit, mentioned during the mailbag segment, I had done that buy a ticket before the $25 expired, then later cancel (for a trip I was actually planning on taking, though that doesn’t really matter), but when I canceled the flight, the $25 portion from the IHG benefit was negated from the credit, since it was past the original expiration date.
Am I doing something wrong? Are people having different experiences with their $25 benefit used to book, and later cancel, but having the $25 portion stay as part of the new credit, upon cancellation? Thanks
Sorry, I forgot to answer this earlier. I haven’t done the trick myself, but after you wrote this question, I asked a couple of friends who have done it, and it sounds like you’re doing it right. I don’t know whether something has changed or if there’s some nuance to the trick I don’t know about.
A small but useful benefit I have seen on the Autograph Journey (the only WF card I have had): there are frequently offers to earn extra cashback rewards on hotel stays. For example, right now I have 10% back on Staybridge, Intercontinental, Indigo; 10% on Best Western; 5% on Hyatt House, Hyatt Studios, Hyatt Place; and 5% for Hilton. Getting those offers on a 5x card is great instead of using it on a BofA or Chase card with a similar offer. I also have a 3% hotels.com offer, but based on past experience that will code as 3x earning as a “travel agent” or “other travel” rather than 5x for hotels.
Between those offers and the $50 airline credit, I can justify the $95 AF.
But you value Bilt at ony $600, and Stephen says they lie! And you covet their elite status?
Both my wife and I have been able to use the semi-annual $200 hotel credit (combined with $100 of Bilt Cash) rather easily. In a year, that’s $600. Then, the Lyft credit via Bilt Cash is similarly easy. In a year, that’s $120. GrubHub and Walgreen’s add $240. Without more, that’s approaching $1000 per card. Now, add in the value of the extra 1X point boost. Then, the value of the transfer bonus.
It really isn’t complex at all. Anyone who says it is either has an agenda or has cognitive issues.
The initial coverage of the new Bilt cards by the blogs was incredibly disappointing. The only blog I came across that honed in on the simple way to look at Bilt was Doctor of Credit.
Exactly my point. FM management will acknowledge your math by….ignoring the inaccuracies of their valuation formiula and continuing to perpetrate those inaccuracies. Readers will respond by using others’ valuation methods, or their own.
One Bilt analysis you missed that makes a similar point to yours and arrives at over $3,000 value can be found by googling “Using Frequent Miler’s Valuation Method, The Bilt Palladium Card Is The Most Valuable Card They Have Ever Seen, Even With Zero Housing Spend”
I read the article you mentioned. As a practical matter, the average person won’t/can’t use some of the potential Bilt Cash credits. For example, the $1200 of hotel credits. I’ll use only $200 per year. Certainly, someone *could* use all $1200 but my sense is the average person won’t.
It’s appropriate to note there is an opportunity cost to using the Bilt Travel portal, which is required to use the hotel credits. It’s appropriate to note that some people have no way to capture the Bilt Cash dining credit. Or, don’t have a practical use for Go Puff.
In the end, my wife and I will each likely capture $1500 net of the annual fee. Maybe not $3000 but still good. For us, while different, I see its value in the same league as the Amex Platinum. Others will differ.
Great that you had a chance to read it. Like the FM and other valuations it represents potential gains, i.e. all available offers are used. Obviously, most users will choose some but not all all offers. In one respect the value of Bilt calculated in this article is conservative in that it assumes no value from housing spend, the major selling point of the card.
My wife and I do not use Bilt’s housing payment platform. Just pure everyday spending.
How do I get approved for a WF card? They sent me a rejection letter that told me I have perfect credit. “Your credit score is 850 (Scores range from 300 to 850)”. I do not want to open a checking account with them, my employer makes it super difficult to set up direct deposit.
Another negative I would add to WF is the lack of downgrade options. I got the Autograph Journey, but do not find myself using it much. I wanted to downgrade it to the no fee Autograph, but that is not allowed.