I got approved for the Chase Sapphire Preferred card 4 months ago and received the 100k points in rewards after the $4k spent in 4 months. I received the points 2-3 months ago. I haven't used the points for anything and currently have 109,314 points in chase rewards. This equals $1,093.14 if redeemed for statement credit or deposited into a bank account. If redeemed this amount through Chase Ultimate Rewards for travel for the 1.25X points value this increases the value to $1,366.42.
I was planning on saving these points for a vacation or travel that is not a vacation. I've been thinking the last couple of weeks that it would make more sense for me to move the points value to an investment account, but haven't done it yet because I still have been contemplating using these points for travel since it's 25% more value. A couple of days ago I decided I will move this money into an investment account unless someone can give me a reason not to.. If I moved this money to an investment account back in roughly August or September into VTI I could be up approximately 7-8% already. If invested in NVDA (been investing in a brokerage for NVDA so I picked that for this) I could have been up ~55% to ~$1,694.
I am 26 and the future is more important than now so it would make more sense to invest it.. I haven't done the math until writing this post, for that I realize I am answering my own post in that it makes more sense to invest this money than to redeem it for travel. I am not trying to break rule #2, I am just trying to get advice on what thoughts are for investing it vs using the points, if I break #2 sorry.
Not stating my personal situation, I am just asking if others have done this before and what seems to be better. I am going to deposit my chase credit card bonus points/money equivalent into my Roth IRA or HSA unless someone has advice on that it would be better enjoyment-wise to use it for vacation or travel in the short term..
Submitted November 14, 2021 at 11:36PM by NeedCookies8 https://ift.tt/3cc1faP
