Question for someone more math/credit card point savvy

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  • #85701 Reply
    Cynthia

      I have the Chase Sapphire. Is it worth it point wise to make a purchase on the card when there is a 2.75% processing fee?

      • The purchase is for college tuition so anywhere from $3500-7000.
      • Yes the card would be paid off with each purchade.

      In my opinion no, because the service fee is more than CC travel points are worth. But anyone have input?

      TIA

      #85702 Reply
      Jeremy

        No it’s not worth it unless your hitting a credit card goal. Like Amex platinum retention or something.

        #85703 Reply
        Josh

          Call the tuition office at the school directly.

          I found out that my daughter’s college doesn’t charge the credit card fee if you pay over the phone vs on the website…. I just learned this after paying for 3 years and not earning points.

          Also, Don’t miss: Over the past month, what is something you purchased that brought you immense happiness?

          #85704 Reply
          Ashley

            Agree with those saying to only accept a fee when working on a sign up bonus on a new card. By far the most efficient way to earn lots of points!

            #85705 Reply
            Danny

              Only if working towards a sub bonus.

              #85706 Reply
              Brian

                Only if you’re trying to hit a large SUB. For the Sapphire, I wouldn’t. Perhaps for the bigger ones – CIP, Amex Plat, etc.

                #85707 Reply
                Scott

                  Do you get more than you pay for?

                  Meaning, are the points you are earning worth more than the 2.75% you are paying to acquire them?

                  (No).

                  *Unless hitting a SUb that you can’t do with organic spend.

                  #85708 Reply
                  Schmidt

                    That one might be a bit harder to break even on. The points guy mentions that 1 point can be about 2 cents.

                    There’s times where you can get more value but if you’re paying with a Chase freedom unlimited then maybe that fee is worth it since you can make those 1.5 points into 3 cents but it would still take some work.

                    Useful: Where do you financially-savvy folk purchase your cell phones?

                    #85709 Reply
                    Sean

                      Nope not worth it. If it were travel on the CSR at 3% it would be worth the 2.75% fee. Unless you routinely get more than 2.75 cents per point it’s not worth it. Or if you need to do it for a sign up bonus you wouldn’t reach otherwise.

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