Current State of Credit Cards Points and Predictions for 2024 with Sebastian Fung

Credit card expert Sebastian Fung joins Chris to discuss the current state of credit cards including recent changes to reward programs, and predictions for 2024. They also dive into topics such as misconceptions about opening multiple cards, whether its still worth chasing status, how to approach sign-up bonuses versus multipliers, credit cards with the most bonuses and more!
Sebastian Fung is a personal finance expert who runs AskSebby, one of the largest KZbin channels focused on credit cards and travel points. He is also the co-founder of Roadrunner Ventures and Cardonomics, a startup that helps creators automate compliance and make affiliate income from credit cards and bank accounts.
Resources Mentioned
Sebastian Fung
Website: www.asksebby.com/
KZbin: / @asksebby
Instagram: asksebby?h...
Ask Sebby Business: / @asksebbybusiness
Citi Bank Cards: www.asksebby.com/credit-cards
Calculators for Expected Credit Card Value: www.asksebby.com/tools#calcul...
All the Hacks
Credit Card Site: www.allthehacks.com/cards
Card Optimizer Spreadsheet: allthehacks.com/cardvalue
Rewards Cards
CapitalOne Venture X Business: 150K Welcome Bonus Miles (spend $30,000 in 3 months): milevalue.com/creditcards/ven...
Citi® Double Cash Card - Earn 2X: milevalue.com/creditcards/cit...
Citi Premier® Card - Earn 3X across many categories: feeds.megaphone.fm/allthehack...
The Platinum Card® from American Express: www.americanexpress.com/en-us...
150K Bonus with CardMatch: milevalue.com/cardmatch/?aff=ath
Marriott Bonvoy Brilliant® American Express® Card: milevalue.com/creditcards/mar...
Cashback Cards
Bank of America® Cash Reward Cards: www.bankofamerica.com/credit-...
American Express Platinum Card® for Schwab: www.schwab.com/credit-cards/p...
Capital One Cash Back Cards: milevalue.com/best-credit-car...
Full Show Notes
00:00 Introduction
02:08 How Sebastian Got into the Points Game
04:15 The Current State of the World of Points & Miles
05:37 Is Chasing Airline Status Worth It?
09:03 Thoughts on Hotel Status
11:46 Status Program Changes to Expect in 2024
13:20 Biggest Changes to the Credit Card Game
19:54 American Express Pulling Out of Delta Lounges
20:51 Credit Card Changes to Expect in 2024
21:44 Sebastian’s Equinox Hack
22:53 Earning Limitations Due to Legislation Changes
24:55 Do Credit Card Companies Like Power Users?
26:03 Chasing Welcome Bonuses vs. Multipliers and Bonuses
28:41 Misconception about Opening Up Multiple Cards
29:39 The Unpublished 524 Rule
32:34 Cards with the Most Bonuses
34:37 Cashback Cards
36:20 Amex Membership Strategy
44:20 Playing the Points Game vs. Cashback Cards
46:11 Ways to Increase Spend to Hit Bonuses
47:51 Different Ways to Use Points
50:24 Best Airline Cabin Experience
52:40 Using Delta Points to Get Good Value
Connect with All the Hacks
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Website - www.allthehacks.com/
Facebook - / allthehacks
Chris Hutchins:
Twitter - / hutchins
Instagram - / chrishutchins
Website - chrishutchins.com/
LinkedIn - / chrishutchins

[@chewie94116]

SEBASTIAN FUNG is a master of the credit card game. He just brings up all the data points /highlights of any card and benefits of one particular card over another. That is someone who plays the credit card game all the time! Great interview.

[@elitepctech]

The problem with the Capital One Venture X Business card is the same as with all Capital One Business cards. It reports to your personal credit, therefore takes a 5/24 slot

[@headlibrarian1996]

That, and Cap1 cards, both personal and business, pull all three bureaus.

[@JacobsPointsAndProfit]

Thank you both for sharing all of your knowledge with us!

[@abel.morelos]

Awesome convo guys! Great insight.

[@c.t.8614]

Love this interview!

[@kevinhuo676]

This was such good content. And all in one place!!!

[@KK-FL]

Definitely saving this one!

[@BobBacheler]

Great information.

[@WhoDeanyUnchained]

This was excellent!

[@jeffreywilliams9220]

Dope interview sebby is very knowledgeable to the game drop a lot of gems 💎

[@chewie94116]

Thank you Sebastian, will definitely utilize the Venture X Business card more.

[@c50grand2]

This was a great discussion between you two gentlemen! I’ll definitely be watching it again. Lots of excellent information!

[@FreedomFinanceFun]

Definitely be the group trip planner!

[@MarcoRolong]

thanks for the show. I remember spending a lot of time a year ago watching how you two went to Bora Bora. It sparked my curiosity. Keep up the good work

[@AFC_27]

I'm wearing those same Under Amour ankle socks.

[@elitepctech]

Start with Amex Gold now due to the new Amex rules denying Gold SUB if you already have the Plat.

[@ImKeeday]

I definitely think the Cap1 Savor1 is the best replacement because it doesn’t have an AF and the VentureX is still a fantastic card to pair even with the nerfs over the years.

[@thecreditsavageofwallstree9898]

Sebbi is one of the GOATS

[@MelissaC269]

Sebby is my fav!!!!

[@CaradhrasAiguo49]

37:47 Amtrak Guest Rewards as well?

[@Alvin_1914]

I don't know how I missed this Sebby!!! #squuuuuuuuuuuuuuuad #iykyk

[@WhatsThePoints1]

Damn that was nitro; gotta up my game 😎

[@julioc4978]

There is also the retention bonuses 😅

[@Ryan31310]

@38:30 Noooo lol (since they changed the language on the gold)

[@Elricky124]

Maybe this has to do with the timing of the filming of this video.

[@chriseverydailyshow4164]

Get Amex platinum first? Wow!

[@IanMaschal]

Why would you start AMEX with a platinum? If you do that you can’t get the green or gold bonus correct?

[@Moi_81]

The Amex lounges are definitely not being kept up and long wait times.

[@stephanieli2669]

I’ve been Marriott Titanium for over 2 years and only got upgraded to suite once when the hotel was at capacity and it was my second stay at that hotel. So people need to be realistic with Marriott suite upgrades irrespective of what Marriott claims. Getting a room with a nicer view on a higher floor or more spacious layout is more common. I still find it valuable to be fed for free and being able to check out late. However, Marriott is consistently way more expensive than other hotels, so it’s not worth it for a lot people to chase that status.

[@begaqincer]

Agreed chasing status not worth it . Upgrades rarely come.The opportunity cost is significant

[@headlibrarian1996]

I don’t think any of the chains enforce status perks. None will override local management, who can deny your request for any or no reason, and many managers seem to think it’s their duty to always say “no”. I’ve found Hilton managers especially aggressive when it comes to saying that “as available” really means “never”. The only status perk I really care about is late checkout, which I’ve found to be like pulling teeth. Even getting an extra hour is a chore, let alone the 2/4pm you’re supposed to get with status depending on chain, and you will rarely be able to confirm late checkout in advance of checkin. Sometimes you are forced to confirm late checkout only on checkout morning, which somewhat defeats the purpose.

[@elitepctech]

Europe has lower interchange fees, and still have reward cards

[@oui.monsieur]

Bring sebby once a yr going forward OG subscriber for sebby and new sub for your channel

[@zyzzuschrist3410]

W Sebby

[@coziii.1829]

I don’t use credit cards I just buy first class all the time on American Soon we will go to Italy 🇮🇹 in April 2024 for a month

[@sunshinecycling]

There are so many points channels that push points and travel as the best value, but I wish more channels said what Sebby says here - the value is really only in the business and first class (especially longer overseas trips). That is not clear in most videos. Cash Back using 5% cards is really probably best for most. And his math on not getting the BILT card to hit the intro bonus on another card would have to assume you are doing that every month. You should still get the BILT card and just give up one month on BILT to hit the intro bonus. He makes it sound like it's all or nothing. Odd advice.

[@elitepctech]

Hilton Diamond is great in SE Asia. I am always offered complementary uogrades when i am in Maynila

[@marckervindeleon3765]

Yes like conrad manila!

[@elitepctech]

@@marckervindeleon3765 - I always get complimentary upgrades at both the Conrad Manila and the Hilton Manila at the airport.

[@seand99x]

A comment was made that if you don’t get the value you want for your points and you end up using the portal is it still worth it going after more points. I don’t understand this line of thinking! If your going to travel at all why would you not use them regardless the bottom line value. By using them you are in essence taking a vacation, getting time away to relax and recharge and making memories for no cost or very little cost 💲 why would you not use them even if your only making 1.25 cents instead 12.5 cents per point! Is it still not in essence free travel regardless? Makes no sense! Is not the whole point of this game to use the points for travel if your so inclined? Sure if you can take aspirational trips go for it! but why look down at other forms of travel unless it meets some elevated metric. Makes no sense to me

[@Moi_81]

American status isn’t worth it anymore tbh.

[@lewis20002000]

You can't continuously focus on intro bonuses bcuz 1*5/24 rule/Amex 5-card limit/life time rule. 2*Youre going to run out of intro bonuses. 3*You fail to fully learn about ur cards and and the difference ecosystems. Can you manage 4-5-6-7 ecosystems? 4*Multiple Hard Inquiries 5*Your velocity can get you flagged.

[@dyhppyx]

Hot tip. Don't say you have an au pair if you don't want to sound like a douche lol

[@Elricky124]

Lol, but what is wrong with that statement, isn’t that what those folks are called? Should he say nanny? How is that different?

[@crecasens]

Also, he lives in the bay area, and that’s normal. I knew several middle-class people when I lived there that had an au pair, which is the same thing as a nanny. Most are pretty young and they don’t make a whole lot of money. The people that I knew that use them said it was because daycare was around the same amount yet the persons attention is split with many children rather than just yours.

[@dyhppyx]

I personally think it's an insane privilege for someone to hire help while most people can't. Obviously it happens all the time and people who do it, especially tech people, sound aloof and douchey. I would be ashamed of myself if I had kids and couldn't take care of them myself. It's a form of life cheating. But that's just my opinion.

[@headlibrarian1996]

@@crecasens They may not make a lot of money, but their lifestyle is typically much better than they could afford on their own with a regular job. At least these young women have this opportunity, young men in similar economic circumstances have no such out and are just screwed, not that anybody cares.

[@chriseverydailyshow4164]

Why do you guys sit like that across from each other?

[@abel.morelos]

Let’s use deductive reasoning…because it’s comfortable. Come on, if you’re viewing this you probably could’ve come to that conclusion. This is an hour talk, of course they want to be comfortable when talking.

[@chriseverydailyshow4164]

@@abel.morelos comfort via cutting off your circulation? And then mirror each other. Unsolved mysteries. Click

[@Moi_81]

I cannot believe you asked this question.

[@chriseverydailyshow4164]

@@Moi_81 Why?

[@headlibrarian1996]

A holdover from the Covid madness, most likely.