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Could use some advice regarding a credit decision I'm making soon: I have a Chase Sapphire Preferred that is coming up on the 1 year anniversary and will charge its $95 fee soon, which I'd like to avoid. I don't spend or travel a lot, but I would like to keep the balance of points I have available, as the UR points transfer well and it seems there are good rental car deals available booking via the UR website. My only other credit card is an old (>10 yrs) Chase Slate card that I want to keep open. Should I: A) Merge the CSP's credit limit into my Slate card, closing the CSP, and open a new Freedom Unlimited card to get the bonus there, or B) Downgrade the CSP into a Freedom Unlimited (giving up the sign up bonus) Is the only difference building the age of my 2nd card vs getting the sign up bonus of $200? Will an extra year of age on my second card really make any difference?
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Jan 10, 2020 18:20
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If you do either of those things you will lose the ability to transfer your URs to travel partners. You must have either a CSP, a CSR, or an Ink+ to be able to convert URs to other miles or points.
pig slut lisa fucked around with this message at 23:31 on Jan 14, 2020 |
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Jan 10, 2020 18:25
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This makes it seem like the Lyft Pink (15% discount on rides) is only good for one year as a one-time benefit: https://onemileatatime.com/chase-sapphire-reserve-lyft/ Could this be true? That further makes the $100 AF increase worthless and really makes me want to cancel. I don't use ridesharing much to begin with but at least that discount would make up for some of the fee increase..
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Jan 10, 2020 18:45
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Man_of_Teflon posted:Could use some advice regarding a credit decision I'm making soon: Another option is to downgrade it into a no-AF Chase Sapphire.
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Jan 11, 2020 02:28
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Inner Light posted:Could this be true? That further makes the $100 AF increase worthless and really makes me want to cancel. I don't use ridesharing much to begin with but at least that discount would make up for some of the fee increase..
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Jan 11, 2020 04:17
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Thinking I’ll probably downgrade my CSR when my renewal comes in the fall
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Jan 13, 2020 00:54
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IMHO this is an excellent article explaining why the Chase Sapphire Reserve kinda sucks now, like most credit cards, especially the break-even amounts: https://thewirecutter.com/money/credit-cards/chase-sapphire-reserve-annual-fee-change/ It's fine if you reliably spend well over $16k on travel/dining per year, but I do not. Otherwise it's a big money maker for Chase and not so great for most customers anymore. quote:What does the $100 annual fee increase actually mean? We ran the numbers, and it means you’ll need to spend $5,555 a year on dining and travel purchases—and redeem your points for 1.5¢ apiece in the Chase Ultimate Rewards portal—just to break even on the Reserve’s annual fee. (This assumes you also use all of your $300 annual travel credit.) Before the increase, the spending threshold was a much more reasonable $3,333. I think I'm going to find a new primary credit card now once I use up all my UR points, which will take a while. You need to keep a Chase card to use them right? Inner Light fucked around with this message at 19:03 on Jan 14, 2020 |
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Jan 14, 2020 18:56
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Inner Light posted:IMHO this is an excellent article explaining why the Chase Sapphire Reserve kinda sucks now, like most credit cards, especially the break-even amounts: I average around 100,000 points a year on my CSR in accumulation and that alone grants me an additional $500 in travel for my airfare. Then you add the travel credits and other benefits and I think it still makes sense, for my use case. I would have to go into min-max territory from here on what other options/redemption strategies I would have to go with (different card, airlines, etc.) but at least for now I don’t feel that I’m losing out on a $450 fee, personally.
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Jan 14, 2020 19:03
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TraderStav posted:I average around 100,000 points a year on my CSR in accumulation and that alone grants me an additional $500 in travel for my airfare. Then you add the travel credits and other benefits and I think it still makes sense, for my use case. Yeah for your use case, you sound like a big-rear end spender which definitely keeps it a winner for you. 100k in UR points per year is a ton. Wouldn't 100k points be $1250 not $500? The fee post April is $550 minus the travel credit, which the break-even amounts account for. Inner Light fucked around with this message at 19:10 on Jan 14, 2020 |
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Jan 14, 2020 19:05
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Inner Light posted:Yeah for your use case, you sound like a big-rear end spender which definitely keeps it a winner for you. 100k in UR points per year is a ton. Wouldn't 100k points be $1250 not $500?
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Jan 14, 2020 21:35
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TraderStav posted:I average around 100,000 points a year on my CSR in accumulation and that alone grants me an additional $500 in travel for my airfare. Then you add the travel credits and other benefits and I think it still makes sense, for my use case. Yeah I’m in a similar boat. Between vacation/everyday/business travel I’ll spend the $16k, but I wonder if I could be min/maxing a better strategy. Not sure I want to put in the effort though.
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Jan 14, 2020 21:46
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Inner Light posted:Yeah for your use case, you sound like a big-rear end spender which definitely keeps it a winner for you. 100k in UR points per year is a ton. Wouldn't 100k points be $1250 not $500? Whoops, I meant $550, not $450 But yeah, now you're making me realize that I am spending a shitload (looks like ~$85k to get 130K points). They're not being generated 1:1 as dining and other categories are higher (such as 3%) but still a lot of spend. I do put EVERYTHING humanly possible on it. I pay for my kids travel soccer, vacations, etc. so it does add up fast. Also a fair amount of reimbursement expenses that I collect points on. Very active family of 5 adds up! Small White Dragon posted:I think he means the 50% bonus when redeeming for travel in the portal nets an extra $500 ($1500 total - $1000 cash out value). Yes, I consider the first 1.0 a wash as I can get dollar for point on virtually any credit card. So if I'm putting in 100K points in for travel and getting $1,500 in value, that's a positive $500 in my pocket. Less than $250 annual fee ($550 - $300 travel credits) and I'm up $250 for using the CSR. That's not taking into account higher point generation for dining and all of the other benefits. (Lyft, Global Entry, lounge access, car insurance, etc.) So in conclusion, CSR may still be good. Thank you all for listening.
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Jan 14, 2020 21:57
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TraderStav posted:So in conclusion, CSR may still be good. Thank you all for listening. Agreed. It's almost like premium travel cards are products for people who travel a lot and spend a lot of money on them. Who woulda thunk?
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Jan 14, 2020 22:23
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Motronic posted:Agreed. The AMEX Business Platinum at $595 and all the benefits they've pulled back are not worth it though. Can't even get the travel credit for buying a flight directly. Nor can you get it by buying an airline gift card and buy it, it's only for incidentals. But, there's one weird trick the airlines hate! You buy a small amount of gift card, then partial pay with that, and HOPE that they code the remaining balance that you paid with the card is recognized as an incidental (which I believe it currently is).
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Jan 14, 2020 22:29
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TraderStav posted:The AMEX Business Platinum at $595 and all the benefits they've pulled back are not worth it though. I'm not saying they are are all equal, or even all worth it. But absolutely none of them will do you a bit of good (meaning at least recovering the annual fee) without the spend.
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Jan 14, 2020 22:34
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astral posted:Another option is to downgrade it into a no-AF Chase Sapphire. Is this a thing you have to call for? I can't find anything about that online. Would it let me still transfer points?
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Jan 14, 2020 23:16
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Man_of_Teflon posted:Is this a thing you have to call for? I can't find anything about that online. Would it let me still transfer points? pig slut lisa posted:If you do either of those things you will lose the ability to transfer your URs to travel partners. You must have either a CSP, a CSR, or an Ink+ to be able to convert URs to other miles or points.
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Jan 14, 2020 23:31
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Man_of_Teflon posted:Is this a thing you have to call for? Yes. As mentioned above, there's no transferring points when it's the regular Sapphire. However, you can product change it back to the CSP in the future when you want to transfer points. The regular Sapphire has no annual fee, receives 2x on dining and 1x on everything else, and it does have a foreign transaction fee.
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Jan 15, 2020 00:03
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Motronic posted:Agreed.
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Jan 15, 2020 01:35
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Josh Lyman posted:How am I supposed rep my yuppie cred and impress dates without a premium credit card??? cancel the card but keep it in your wallet then make like you're going to pay with it but go "oh wait, i forgot that this one has better rewards on this spending category this quarter" and pay with another one
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Jan 15, 2020 01:49
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Shear Modulus posted:cancel the card but keep it in your wallet then make like you're going to pay with it but go "oh wait, i forgot that this one has better rewards on this spending category this quarter" and pay with another one If you do a product change with Chase, you can continue using your previous physical card until it expires since they keep the same number, so you could just pay with it as-is.
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Jan 15, 2020 01:56
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Shear Modulus posted:cancel the card but keep it in your wallet then make like you're going to pay with it but go "oh wait, i forgot that this one has better rewards on this spending category this quarter" and pay with another one Protip: this line drives women crazy!
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Jan 15, 2020 02:15
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astral posted:If you do a product change with Chase, you can continue using your previous physical card until it expires since they keep the same number, so you could just pay with it as-is. My wife has been using my Freedom Unlimited card that I used to have before product changing up to the CSR (ineligible for bonus and had changed down to save the fee for a year) for well over a year now and they both work great. Since authorized users cost a bit on the CSR (and I believe make them ineligible for bonuses) it's a nice benefit. Side note, just cashed in 130K URs to book my summer trip to Greece for my family. Ended up only being $2,500 out of pocket for a family of five in August.
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Jan 15, 2020 02:17
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Also don't discount the fungibility benefit of being able to use the points at 1:1 for any airline. Being able to avoid lock-in lets you take advantage of a cheaper flight options with those points than if you were locked into a carrier. I just redeemed two flights to Japan and ended up paying $100 out of pocket between the travel credit + points + choosing a more affordable flight.
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Jan 15, 2020 02:59
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TraderStav posted:Yes, I consider the first 1.0 a wash as I can get dollar for point on virtually any credit card. So if I'm putting in 100K points in for travel and getting $1,500 in value, that's a positive $500 in my pocket. Less than $250 annual fee ($550 - $300 travel credits) and I'm up $250 for using the CSR. That's not taking into account higher point generation for dining and all of the other benefits. (Lyft, Global Entry, lounge access, car insurance, etc.) CSR still may be worth it depending on your habits.
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Jan 15, 2020 16:24
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angryrobots posted:Well I assume you're familiar with the negative changes with the Barclay's Uber if you have it or were planning to get it. I got this in September and am pretty pissed. New job, using card for work travel and expenses. Probably $4-5k per month in airfare, hotels. 4% was awesome. The app was pretty good. I'm looking for suggestions for new card. I hardly ever use credit cards otherwise so I'm pretty ignorant. I have the one from my credit union for emergencies, and keep it active, but that's all I know. I prefer rewards I can translate to cash, toward statement, or gift cards. I travel so much for work I don't want dedicated miles or hotel rewards. Citi double cash (mentioned in OP and I see rated high) still a good pick? Was also looking at wells Fargo propel, I think it is 3%, can redeem for cash at an atm, apparently. My old gig we used AMEX and the number of times it wasn't accepted I can count on one hand.
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Jan 15, 2020 16:55
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Do you travel internationally or just domestic? Want to see if no foreign transaction fee is important to you or not. Is lounge access or any perks you would get with an ultra premium card worth anything to you?
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Jan 15, 2020 17:08
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skipdogg posted:Do you travel internationally or just domestic? Want to see if no foreign transaction fee is important to you or not. Thank you. My last job, that I was poached from, was a lot of international travel and I could expense one lounge membership per year, so yeah, I guess I got used to that. But I've only been at this new gig since October; all of my travel has been domestic, mostly western US. Short hops where I haven't spent too much time in a terminal. So I guess no to lounges, yes to no foreign transaction fees.
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Jan 15, 2020 17:48
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SiGmA_X posted:You should be basing comparisons on 2%, not 1%, as there are multiple 2% cash back 0 effort cards.
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Jan 15, 2020 18:54
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full disclosure: I don't play the credit card game very well. I don't travel enough for work, or pleasure to really care about miles or status. I throw almost everything on a 2% cash back card, but I do have a couple other cards I use depending on the situation. There's going to be 2 schools of thought for your situation I think 1: Chasing sign up bonuses with your large spend. You should be able to knock out several large sign up bonuses on a couple cards over the next year. The sign up bonus rewards can be worth a ton. The Chase cards would be first because of their 5/24 rule. Someone probably has better advice regarding this. Most programs I'm aware of can cash out points/rewards into gift cards, it just isn't the *optimal* way to *maximize* your rewards. 2: If you don't want to play the game, figure out 2, maybe 3 cards that work best for your purchases. 90% of my spend goes on the Citi Double Cash, or my credit union 2% straight cash back cards. This works best for me, as I don't feel like carrying a ton of cards with me, and consulting a sheet of paper every time I buy something so I can earn another 13 cents in rewards. I keep 4 cards in my wallet. Citi double cash (MC), Amex Blue Cash, Citi Costco Visa, local CU cash back(MC). This also ensures I have 3 different types of cards in case I'm somewhere that doesn't take one for some reason. I don't bother carrying my Discover IT card. I think someone in your situation should look at the Chase Sapphire Preferred. It does have a 95 dollar annual fee, but double points on travel, no FTF, a large sign up bonus, and the overall value of Chase UR points makes the card pretty attractive. Not sure you'd get value out of the Chase Sapphire Reserve and it's huge 550 dollar annual fee.
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Jan 15, 2020 19:17
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What's the benefit of CSR vs Amex Plat at this point Seens like they have a significant amount of overlap, but the airport lounge benefits don't really stack
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Jan 15, 2020 20:58
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pumped up for school posted:Was also looking at wells Fargo propel, I think it is 3%, can redeem for cash at an atm, apparently. My old gig we used AMEX and the number of times it wasn't accepted I can count on one hand. That looks to be directed straight at the Barclay's Uber. $200 sign up bonus, 3% at restaurants, travel, and streaming services. Also included cell phone insurance. I'll probably cash out whatever is sitting on the Uber before Feb 1 and cancel it for this.
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Jan 15, 2020 21:05
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pumped up for school posted:I got this in September and am pretty pissed. Wells Fargo Propel looks like an excellent alternative to the CSR for customers that don't spend enough to outweigh the annual fee, and I wasn't aware of it before. Plus 3% at gas stations, which CSR doesn't have. Thanks! Hope they don't start opening extra accounts for me 
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Jan 15, 2020 23:06
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Hadlock posted:What's the benefit of CSR vs Amex Plat at this point I guess the effective annual fee is still smaller if you can't use the Uber/Saks/Airline incidental credits, but those are relatively easy to use. CSR still has better rental car insurance and you can use the Priority Pass restaurants. I've carried both, but I'll be dropping the CSR before it comes due again. I liked the simplicity of using the portal for travel, but my goal is to clean out my UR points and switch to AmEx full time.
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Jan 16, 2020 00:20
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There's just something about that extra travel insurance and protection that I can't shake. I think the CSR has me hooked, at least for another cycle.
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Jan 16, 2020 06:45
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Hadlock posted:What's the benefit of CSR vs Amex Plat at this point Chase includes Priority Pass restaurants AND lounges where the AMEX only gets you Lounge acess, not PP restaurant access, but you get centurion lounge access in return. if you have a set travel itinerary and will be at airports with centurion lounges (Small footprint) you should do AMEX probs. The Chase gives you more flexibility at airports for free poo poo since it includes stand alone restaurants not just lounged. i.e. - Corona Beach House in MIA is a PP Restaurant I get to go to as a chase holder, but my AMEX friend can not get any free poo poo there.
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Jan 16, 2020 07:15
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Hadlock posted:What's the benefit of CSR vs Amex Plat at this point - CSR earns faster for most people (3x dining/travel) than Amex (5x flights and prepaid hotels). - They both transfer to partners, but CSR lets you redeem as cash towards travel for 1.5cpp. (Note the Business Amex Plat has a similar benefit, but only for flights). - They both have Priority Pass, although Amex excludes participating airport restaurants now. - Amex Plat includes Centurion Lounge access and SkyClub access when flying Delta. CSR has no equivalent benefit. - Amex Plat gives Hilton Gold and Marriott Gold status. CSR has no equivalent benefit. - CSR's travel credit is way easier to use (and larger) than Amex's airline incidental credit. In a sense, they're sort of complementary because the Plat is a great card to hold for the benefits but not the most rewarding for spend, while the CSR is the other way around. Inner Light posted:Wells Fargo Propel looks like an excellent alternative to the CSR for customers that don't spend enough to outweigh the annual fee, and I wasn't aware of it before. Plus 3% at gas stations, which CSR doesn't have. Thanks! FYI there's another no-AF Wells Fargo card you can pair it with to get a 50% bonus when redeeming towards flights (so an effective 4.5% just like the CSR).
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Jan 16, 2020 08:04
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Waroduce posted:if you have a set travel itinerary and will be at airports with centurion lounges (Small footprint) you should do AMEX probs. Yeah we fly almost exclusively out of SFO, DFW and HOU which are all centurion airports And also yeah now that we have the amex plat we are staying at hiltons a lot more which is making the wife very happy with the honors gold. Just curious about the difference. I was considering getting a CSR as well prior to the but with the annual fee bump seems like chase is forcing users to pick either or.
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Jan 16, 2020 08:47
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Hey is there a good resource for this kinda stuff but for Australia? Me and the wife are ok at budgeting but are lazy with credit cards and I feel like we could be earning more in points and stuff but I’m not really sure where to start.
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Jan 16, 2020 10:03
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I dont think there is a huge difference just cause your Aussie. All my benefits are global just like everyones..there are hiltons and priority pass etc etc everywhere
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Jan 16, 2020 20:18
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