What's Your Credit Card Rewards Strategy?

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SRenaeP
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Re: What's Your Credit Card Rewards Strategy?

Post by SRenaeP » Wed Aug 17, 2016 12:34 pm

Gemini wrote:how do you guys decide to use points vs cash back cards? Both of us uses a CSP and we have over 100K points each, but never used. Not sure how to use them! Debating if I should get the CSR - also thinking of the fido 2% cash back. We try to use Amex for 6% grocery and Penfed for 5% gas back


For me, it's about ROI. I get more more bang for the buck with points/miles. Though it must be noted that I don't chase categories either (meaning this card for groceries, this card for gas, etc.)

-Steph

dsmil
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Re: What's Your Credit Card Rewards Strategy?

Post by dsmil » Thu Aug 18, 2016 9:04 am

Kenster1 wrote:
dsmil wrote:I've been doing the credit card rewards game for 2 years now, since becoming a one-income household and needing to make vacations more affordable. In that time, we've used points for 5 nights in a luxury Paris hotel, flights to/from Charleston, SC and 5 nights in a Hyatt, and flights to/from Rome and 3 nights in a hotel. We still have $5k worth of points available and 800 credit scores. I'll probably slow down a bit with the Chase 5/24 rule and a possible home purchase down the line, but it's been great so far.

Damn that's nice to take advantage of those perks! :idea: :beer

And it doesn't require a lot of work at all. Takes 3 minutes to fill out a Credit Card application and waiting 60 seconds for approval. And then when you pay for stuff - you just simply use the rewards credit card since most people pay with cards anyways for most things.

Do you hang onto your rewards cards or after you're done with them you close a few of them down?


I haven't reached the 2nd year for most of these, but my initial thoughts are to downgrade or cancel any cards with fees before the 2nd year fee hits. It seems like it's easy to keep the points with minimal work, and then I can re-apply at a later time. The only one that I'm holding onto is my Sapphire Preferred because it is my only older card and I want to keep the account open so I can transfer points to the travel partners. I also opened a bunch of no-fee cards when I started this, so I could hold onto them forever and keep increasing my average age of credit.

What is your strategy for keeping cards?

Loik098
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Re: What's Your Credit Card Rewards Strategy?

Post by Loik098 » Thu Aug 18, 2016 10:40 am

dsmil wrote:The only one that I'm holding onto is my Sapphire Preferred because it is my only older card and I want to keep the account open so I can transfer points to the travel partners. I also opened a bunch of no-fee cards when I started this, so I could hold onto them forever and keep increasing my average age of credit.


Depending on where you are on the 5/24 rule and whether or not it will apply to the new Sapphire Reserve card, you might consider applying for the CSR when it comes out next week, make sure it's all set up, then call Chase to ask if you can downgrade your CSP to a Freedom.

Don46
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Re: What's Your Credit Card Rewards Strategy?

Post by Don46 » Fri Aug 19, 2016 5:12 am

HIinvestor wrote:With Barclay MCard, we get 5% on groceries. My understanding is markets operate on very thin margins, so no idea how they do this and stay in business!


Has the Barclay MCard been discontinued? I cannot find it among the cards listed at the Barclay site: https://home.barclaycardus.com/cards.html
5 percent on groceries sounds good.
I see an even better deal with AmEx Blue Cash Preferred and was pleased to learn that Publix and Harris Teeter both accept the Amex card. Many places will not.

Don46
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Re: What's Your Credit Card Rewards Strategy?

Post by Don46 » Fri Aug 19, 2016 5:43 am

Almost there wrote:I have been using AMEX Blue Cash Card for quite a number of years. Just received a letter from AMEX stating that my Blue Cash card will be discontinued and I will receive the Blue Cash Everyday Card which offer cash back on purchases of 3% in US supermarkets, 2% US gas stations, 2% US department stores and 1% on other purchases. If I spend $1,000 in first 3 months, I will also receive $100 credit. Also no annual fee.

So far I think this is a good deal unless someone thinks otherwise.

Almost there


Are we sure this card is being discontinued? I am seeing the AmEx Blue Cash Preferred card still being offered on the AmEx card site, along with the Everyday card:
https://www.americanexpress.com/us/cred ... shBackComp
It looks like a great deal. I estimate we pay about 1k a month at grocery stores and I checked with both Harris Teeter and Public and they both take AmEx cards. That is about $720 a year, less the annual fee of 95.

guitarguy
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Re: What's Your Credit Card Rewards Strategy?

Post by guitarguy » Fri Aug 19, 2016 6:55 am

Don46 wrote:
Almost there wrote:I have been using AMEX Blue Cash Card for quite a number of years. Just received a letter from AMEX stating that my Blue Cash card will be discontinued and I will receive the Blue Cash Everyday Card which offer cash back on purchases of 3% in US supermarkets, 2% US gas stations, 2% US department stores and 1% on other purchases. If I spend $1,000 in first 3 months, I will also receive $100 credit. Also no annual fee.

So far I think this is a good deal unless someone thinks otherwise.

Almost there


Are we sure this card is being discontinued? I am seeing the AmEx Blue Cash Preferred card still being offered on the AmEx card site, along with the Everyday card:
https://www.americanexpress.com/us/cred ... shBackComp
It looks like a great deal. I estimate we pay about 1k a month at grocery stores and I checked with both Harris Teeter and Public and they both take AmEx cards. That is about $720 a year, less the annual fee of 95.


The BC card is different than the BCP or BCE cards.

Also, the 6% on groceries is capped at $6k annually, so your annual cash back with $1000/m on groceries is only about $325.

giesen5
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Re: What's Your Credit Card Rewards Strategy?

Post by giesen5 » Sun Aug 21, 2016 4:26 pm

Anybody try to apply for the Chase Sapphire Reserve yet? It goes live online tomorrow, was available in-branch today.

Mixed info on whether 5/24 applies yet. Some say that got denied over 5/24, others got approved.

SRenaeP
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Re: What's Your Credit Card Rewards Strategy?

Post by SRenaeP » Mon Aug 22, 2016 6:40 am

giesen5 wrote:Anybody try to apply for the Chase Sapphire Reserve yet? It goes live online tomorrow, was available in-branch today.

Mixed info on whether 5/24 applies yet. Some say that got denied over 5/24, others got approved.


I didn't bother to go to a branch yesterday but will apply online today assuming the link goes live.

-Steph

ChiefIlliniwek
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Re: What's Your Credit Card Rewards Strategy?

Post by ChiefIlliniwek » Mon Aug 22, 2016 10:21 am

SRenaeP wrote:
giesen5 wrote:Anybody try to apply for the Chase Sapphire Reserve yet? It goes live online tomorrow, was available in-branch today.

Mixed info on whether 5/24 applies yet. Some say that got denied over 5/24, others got approved.


I didn't bother to go to a branch yesterday but will apply online today assuming the link goes live.

-Steph


Everything I have seen says it is under 5/24. Looks like I won't be getting this card.

guitarguy
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Re: What's Your Credit Card Rewards Strategy?

Post by guitarguy » Mon Aug 22, 2016 11:47 am

ChiefIlliniwek wrote:
SRenaeP wrote:
giesen5 wrote:Anybody try to apply for the Chase Sapphire Reserve yet? It goes live online tomorrow, was available in-branch today.

Mixed info on whether 5/24 applies yet. Some say that got denied over 5/24, others got approved.


I didn't bother to go to a branch yesterday but will apply online today assuming the link goes live.

-Steph


Everything I have seen says it is under 5/24. Looks like I won't be getting this card.


I will have to wait as well...but eventually I'll probably get it. Chances are it won't be going anywhere, and the 100k bonus will be back...

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pennstater2005
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Re: What's Your Credit Card Rewards Strategy?

Post by pennstater2005 » Mon Aug 22, 2016 12:01 pm

I tried for the Southwest Rapid Rewards card. It's Chase so unlikely I'll get it but applied anyway. 50k bonus points that I would use for gift cards not travel. I'm always renovating something and they have Lowes cards as an option for redemption. $99 annual fee though, not waived first year.

I did have one card awhile back that approved me by mail. I thought for sure I was denied....fingers crossed.
“Life is short, Break the Rules, Forgive quickly, Kiss slowly, Love truly, Laugh uncontrollably, And never regret anything that made you smile" - Unknown

SRenaeP
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Re: What's Your Credit Card Rewards Strategy?

Post by SRenaeP » Mon Aug 22, 2016 2:14 pm

ChiefIlliniwek wrote:
SRenaeP wrote:
giesen5 wrote:Anybody try to apply for the Chase Sapphire Reserve yet? It goes live online tomorrow, was available in-branch today.

Mixed info on whether 5/24 applies yet. Some say that got denied over 5/24, others got approved.


I didn't bother to go to a branch yesterday but will apply online today assuming the link goes live.

-Steph


Everything I have seen says it is under 5/24. Looks like I won't be getting this card.


I'm going to try anyway. I can't recall if I'm at 4/24 or 5/24.

-Steph

michaeljc70
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Re: What's Your Credit Card Rewards Strategy?

Post by michaeljc70 » Mon Aug 22, 2016 2:29 pm

giesen5 wrote:Anybody try to apply for the Chase Sapphire Reserve yet? It goes live online tomorrow, was available in-branch today.

Mixed info on whether 5/24 applies yet. Some say that got denied over 5/24, others got approved.


Is the annual fee waived for the first year? $450 is a big annual fee. Not sure it is worth 50k more reward points over the standard Chase Sapphire if the fee isn't waived the 1st year.

Da5id
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Re: What's Your Credit Card Rewards Strategy?

Post by Da5id » Mon Aug 22, 2016 2:35 pm

michaeljc70 wrote:
giesen5 wrote:Anybody try to apply for the Chase Sapphire Reserve yet? It goes live online tomorrow, was available in-branch today.

Mixed info on whether 5/24 applies yet. Some say that got denied over 5/24, others got approved.


Is the annual fee waived for the first year? $450 is a big annual fee. Not sure it is worth 50k more reward points over the standard Chase Sapphire if the fee isn't waived the 1st year.


Reward points is 100000, which is worth $1000 if you take them as cash. So you net $550 (and of course the points are worth rather more not as cash). I agree that this might not be worth keeping for second year, but first seems pretty good, particularly assuming you get the $300 credit for travel. Can't see how it isn't a good deal for anyone who qualifies?!?

SRenaeP
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Re: What's Your Credit Card Rewards Strategy?

Post by SRenaeP » Mon Aug 22, 2016 2:36 pm

michaeljc70 wrote:
giesen5 wrote:Anybody try to apply for the Chase Sapphire Reserve yet? It goes live online tomorrow, was available in-branch today.

Mixed info on whether 5/24 applies yet. Some say that got denied over 5/24, others got approved.


Is the annual fee waived for the first year? $450 is a big annual fee. Not sure it is worth 50k more reward points over the standard Chase Sapphire if the fee isn't waived the 1st year.


The fee isn't waived but you get $300 of travel expenses reimbursed each year. So if you cancel before the first year is over, you will have gotten $600 reimbursed ($300 for 2016 and $300 for 2017) for your $450 in addition to the sign on bonus. In addition, they will also reimburse you for GE fees if you don't have that already. That makes it a no-brainer to me.

-Steph

Texanbybirth
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Re: What's Your Credit Card Rewards Strategy?

Post by Texanbybirth » Mon Aug 22, 2016 2:36 pm

SRenaeP wrote:
ChiefIlliniwek wrote:
SRenaeP wrote:
giesen5 wrote:Anybody try to apply for the Chase Sapphire Reserve yet? It goes live online tomorrow, was available in-branch today.

Mixed info on whether 5/24 applies yet. Some say that got denied over 5/24, others got approved.


I didn't bother to go to a branch yesterday but will apply online today assuming the link goes live.

-Steph


Everything I have seen says it is under 5/24. Looks like I won't be getting this card.


I'm going to try anyway. I can't recall if I'm at 4/24 or 5/24.

-Steph


A crude way to check is to sign up for a free Credit Karma account and see how many cards you've got in your history. There are mixed signals out there about whether business card accts are included, if that applies to you.

michaeljc70
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Re: What's Your Credit Card Rewards Strategy?

Post by michaeljc70 » Mon Aug 22, 2016 2:39 pm

Texanbybirth wrote:
SRenaeP wrote:
ChiefIlliniwek wrote:
SRenaeP wrote:
giesen5 wrote:Anybody try to apply for the Chase Sapphire Reserve yet? It goes live online tomorrow, was available in-branch today.

Mixed info on whether 5/24 applies yet. Some say that got denied over 5/24, others got approved.


I didn't bother to go to a branch yesterday but will apply online today assuming the link goes live.

-Steph


Everything I have seen says it is under 5/24. Looks like I won't be getting this card.


I'm going to try anyway. I can't recall if I'm at 4/24 or 5/24.

-Steph


A crude way to check is to sign up for a free Credit Karma account and see how many cards you've got in your history. There are mixed signals out there about whether business card accts are included, if that applies to you.


I just checked Credit Karma this weekend. I opened 4 in the last 24. I have one rolling off in Sept.

michaeljc70
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Re: What's Your Credit Card Rewards Strategy?

Post by michaeljc70 » Mon Aug 22, 2016 2:40 pm

SRenaeP wrote:
michaeljc70 wrote:
giesen5 wrote:Anybody try to apply for the Chase Sapphire Reserve yet? It goes live online tomorrow, was available in-branch today.

Mixed info on whether 5/24 applies yet. Some say that got denied over 5/24, others got approved.


Is the annual fee waived for the first year? $450 is a big annual fee. Not sure it is worth 50k more reward points over the standard Chase Sapphire if the fee isn't waived the 1st year.


The fee isn't waived but you get $300 of travel expenses reimbursed each year. So if you cancel before the first year is over, you will have gotten $600 reimbursed ($300 for 2016 and $300 for 2017) for your $450 in addition to the sign on bonus. In addition, they will also reimburse you for GE fees if you don't have that already. That makes it a no-brainer to me.

-Steph


What constitute a "travel expense"? The Amex card I believe is only for luggage fees, seat selection fees, change fees, etc. fees and not tickets.

SRenaeP
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Re: What's Your Credit Card Rewards Strategy?

Post by SRenaeP » Mon Aug 22, 2016 2:41 pm

Texanbybirth wrote:
SRenaeP wrote:
ChiefIlliniwek wrote:
SRenaeP wrote:
giesen5 wrote:Anybody try to apply for the Chase Sapphire Reserve yet? It goes live online tomorrow, was available in-branch today.

Mixed info on whether 5/24 applies yet. Some say that got denied over 5/24, others got approved.


I didn't bother to go to a branch yesterday but will apply online today assuming the link goes live.

-Steph


Everything I have seen says it is under 5/24. Looks like I won't be getting this card.


I'm going to try anyway. I can't recall if I'm at 4/24 or 5/24.

-Steph


A crude way to check is to sign up for a free Credit Karma account and see how many cards you've got in your history. There are mixed signals out there about whether business card accts are included, if that applies to you.


Thanks for the advice! I know I pulled a credit report a few months ago. Hopefully, I saved a copy.

-Steph

Texanbybirth
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Re: What's Your Credit Card Rewards Strategy?

Post by Texanbybirth » Mon Aug 22, 2016 2:43 pm

michaeljc70 wrote:
Texanbybirth wrote:
SRenaeP wrote:
ChiefIlliniwek wrote:
SRenaeP wrote:
I didn't bother to go to a branch yesterday but will apply online today assuming the link goes live.

-Steph


Everything I have seen says it is under 5/24. Looks like I won't be getting this card.


I'm going to try anyway. I can't recall if I'm at 4/24 or 5/24.

-Steph


A crude way to check is to sign up for a free Credit Karma account and see how many cards you've got in your history. There are mixed signals out there about whether business card accts are included, if that applies to you.


I just checked Credit Karma this weekend. I opened 4 in the last 24. I have one rolling off in Sept.


You might do well to wait till October, although I've seen (unsubstantiated) grumblings that the CSR offer is going away in Sept. That seems awfully quick. I'm well over 5/24, but all of my other stats are high enough that I'm gonna give it a go in a branch some time this week. :beer

SRenaeP
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Re: What's Your Credit Card Rewards Strategy?

Post by SRenaeP » Mon Aug 22, 2016 2:44 pm

michaeljc70 wrote:
SRenaeP wrote:
michaeljc70 wrote:
giesen5 wrote:Anybody try to apply for the Chase Sapphire Reserve yet? It goes live online tomorrow, was available in-branch today.

Mixed info on whether 5/24 applies yet. Some say that got denied over 5/24, others got approved.


Is the annual fee waived for the first year? $450 is a big annual fee. Not sure it is worth 50k more reward points over the standard Chase Sapphire if the fee isn't waived the 1st year.


The fee isn't waived but you get $300 of travel expenses reimbursed each year. So if you cancel before the first year is over, you will have gotten $600 reimbursed ($300 for 2016 and $300 for 2017) for your $450 in addition to the sign on bonus. In addition, they will also reimburse you for GE fees if you don't have that already. That makes it a no-brainer to me.

-Steph


What constitute a "travel expense"? The Amex card I believe is only for luggage fees, seat selection fees, change fees, etc. fees and not tickets.


Tickets, lodging, etc. which is part of the reason people (including me) are so excited.

https://www.chase.com/card-benefits/sap ... rve/travel

Merchants in the travel category include airlines, hotels, motels, timeshares, campgrounds, car rental agencies, cruise lines, travel agencies, discount travel sites, and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages.

-Steph

Workinghard
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Re: What's Your Credit Card Rewards Strategy?

Post by Workinghard » Mon Aug 22, 2016 2:56 pm

Texanbybirth wrote:
SRenaeP wrote:
ChiefIlliniwek wrote:
SRenaeP wrote:
giesen5 wrote:Anybody try to apply for the Chase Sapphire Reserve yet? It goes live online tomorrow, was available in-branch today.

Mixed info on whether 5/24 applies yet. Some say that got denied over 5/24, others got approved.


I didn't bother to go to a branch yesterday but will apply online today assuming the link goes live.

-Steph


Everything I have seen says it is under 5/24. Looks like I won't be getting this card.


I'm going to try anyway. I can't recall if I'm at 4/24 or 5/24.

-Steph


A crude way to check is to sign up for a free Credit Karma account and see how many cards you've got in your history. There are mixed signals out there about whether business card accts are included, if that applies to you.


Chase business cards count because they can see those. If the Business card shows up on your personal credit report it counts. That includes Barclaycard, Capital One, and Discover.

giesen5
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Re: What's Your Credit Card Rewards Strategy?

Post by giesen5 » Mon Aug 22, 2016 7:23 pm

Reading about this at Flyertalk: (http://www.flyertalk.com/forum/chase-ul ... -card.html)

The thread is 101 pages (!) long, but it seems that going into your local Chase branch increases your odds of being approved, even if over 5/24.

madbrain
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Re: What's Your Credit Card Rewards Strategy?

Post by madbrain » Mon Aug 22, 2016 8:09 pm

giesen5 wrote:Reading about this at Flyertalk: (http://www.flyertalk.com/forum/chase-ul ... -card.html)

The thread is 101 pages (!) long, but it seems that going into your local Chase branch increases your odds of being approved, even if over 5/24.


Went into a branch today and got approved. I believe I was at 3/24.

I got a Chase Sapphire preferred in June with 55k points offer.
2 weeks ago, got a Citi hilton with 75k points offer. On the same day, got a Discover it with 0% no BT fee (only got $6000 credit line, sigh).
And today the Sapphire reserve with the 100k offer.

I believe my husband is already at 5/24 so he probably won't qualify for the CSR.

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cookymonster
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Re: What's Your Credit Card Rewards Strategy?

Post by cookymonster » Mon Aug 22, 2016 8:18 pm

Went into a branch today and got queued. I think I'm right at 5/24 so I don't have my hopes up. I need to think of a new non-Chase card to apply for if this doesn't pan out.

njfastlife
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Re: What's Your Credit Card Rewards Strategy?

Post by njfastlife » Tue Aug 23, 2016 10:07 am

hey all. two things.

1. i think i messed up ROYALLY about a month ago when i transferred ~125K UR points for cash back instead of using them towards flights/travel which would have really extended the bang-for-the-buck factor. :oops:

2. i just got approved for a Chase Sapphire Reserve. my only other card is a Chase Freedom. i plan on using the Freedom for the rotating 5% categories and the CSR for everything else. and, of course, the CSR exclusively until i hit the $4k/3 month bonus of 100K UR points.

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slayed
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Re: What's Your Credit Card Rewards Strategy?

Post by slayed » Tue Aug 23, 2016 10:55 am

njfastlife wrote:hey all. two things.

1. i think i messed up ROYALLY about a month ago when i transferred ~125K UR points for cash back instead of using them towards flights/travel which would have really extended the bang-for-the-buck factor. :oops:

2. i just got approved for a Chase Sapphire Reserve. my only other card is a Chase Freedom. i plan on using the Freedom for the rotating 5% categories and the CSR for everything else. and, of course, the CSR exclusively until i hit the $4k/3 month bonus of 100K UR points.


you might also want to get the Chase Freedom Unlimited once you hit that $4k mark on the Reserve. It gives 1.5% on everything.

so the "optimal" Chase card strategy becomes:

1.) Freedom for the 5% categories up to the max limit
2.) All travel and dining on the Sapphire Reserve (3%)
3.) Freedom Unlimited on everything else (1.5%)

the important thing is ALWAYS transfer your points to the Sapphire Reserve because you will get a 1.5x multiplier on the points when redeeming rewards (the Sapphire Preferred has only 1.25x multiplier). Chase lets your combine points as often as you want for free.

that makes your 5% category become essentially 7.5% back and your 1.5% from unlimited become 2.25% back.

guitarguy
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Re: What's Your Credit Card Rewards Strategy?

Post by guitarguy » Tue Aug 23, 2016 12:34 pm

slayed wrote:
njfastlife wrote:hey all. two things.

1. i think i messed up ROYALLY about a month ago when i transferred ~125K UR points for cash back instead of using them towards flights/travel which would have really extended the bang-for-the-buck factor. :oops:

2. i just got approved for a Chase Sapphire Reserve. my only other card is a Chase Freedom. i plan on using the Freedom for the rotating 5% categories and the CSR for everything else. and, of course, the CSR exclusively until i hit the $4k/3 month bonus of 100K UR points.


you might also want to get the Chase Freedom Unlimited once you hit that $4k mark on the Reserve. It gives 1.5% on everything.

so the "optimal" Chase card strategy becomes:

1.) Freedom for the 5% categories up to the max limit
2.) All travel and dining on the Sapphire Reserve (3%)
3.) Freedom Unlimited on everything else (1.5%)

the important thing is ALWAYS transfer your points to the Sapphire Reserve because you will get a 1.5x multiplier on the points when redeeming rewards (the Sapphire Preferred has only 1.25x multiplier). Chase lets your combine points as often as you want for free.

that makes your 5% category become essentially 7.5% back and your 1.5% from unlimited become 2.25% back.


The 1.5% multiplier is only good if you don't transfer the points out to a partner and book your travel through the Chase portal...certainly not always the best choice price wise although sometimes it is fine...but you can do even better than 1.5 CPP if you transfer out. I average about 1.8 CPP on Southwest transfers, and could probably get even more from Hyatt.

One could argue that the optimal strategy for UR points is better served with the CSR as a "one year and done" card, and keep the CSP around instead. Will the extra 1% on travel and dining, combined with the $300 annual travel credit, be enough to offset that $450 AF? Hmm...looks like I should go run some numbers!!

EDIT: Don't forget about the Ink! :mrgreen:

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slayed
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Re: What's Your Credit Card Rewards Strategy?

Post by slayed » Tue Aug 23, 2016 12:41 pm

guitarguy wrote:
One could argue that the optimal strategy for UR points is better served with the CSR as a "one year and done" card, and keep the CSP around instead. Will the extra 1% on travel and dining, combined with the $300 annual travel credit, be enough to offset that $450 AF? Hmm...looks like I should go run some numbers!!

EDIT: Don't forget about the Ink! :mrgreen:


the CSR after the travel credit only costs $65 more than the CSP (CSP has $95 AF). and the perks are quite a bit better (airport lounges, better rental coverage, etc). i haven't crunched the numbers myself but for someone for whom the $95 CSP fee was worth it i can't imagine this one not being better.

guitarguy
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Re: What's Your Credit Card Rewards Strategy?

Post by guitarguy » Tue Aug 23, 2016 12:51 pm

slayed wrote:
guitarguy wrote:
One could argue that the optimal strategy for UR points is better served with the CSR as a "one year and done" card, and keep the CSP around instead. Will the extra 1% on travel and dining, combined with the $300 annual travel credit, be enough to offset that $450 AF? Hmm...looks like I should go run some numbers!!

EDIT: Don't forget about the Ink! :mrgreen:


the CSR after the travel credit only costs $65 more than the CSP (CSP has $95 AF). and the perks are quite a bit better (airport lounges, better rental coverage, etc). i haven't crunched the numbers myself but for someone for whom the $95 CSP fee was worth it i can't imagine this one not being better.


The rental coverage is the same as far as I can tell...both cards have primary coverage.

AU's cost $75/yr with the CSR. Without that, unless they get their own card at another $450/yr, others lose out on Priority Pass benefits. Since I pretty much always travel with my wife, this benefit becomes just about worthless without paying the AU fee. So there's that. Later honey...I'll be in the lounge.

We spend about $200/m on average eating out, and call it $1000 on an annual trip...even less if we cash in rewards and use the travel credit. A 1% difference for us crunching these numbers is only $35. As I was kind of suspecting...we just don't spend enough.

So far it's not looking like it's worth keeping to me. YMMV.

Texanbybirth
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Re: What's Your Credit Card Rewards Strategy?

Post by Texanbybirth » Tue Aug 23, 2016 1:01 pm

My wife went into a branch today and was instantly approved. I believe she's right at 5/24 now, after this application. With our second little one due any day, this will be an excellent way to probably finish up our credit card rewards for this year. However, it's hard to look at the doctor's bills and not say "Wow, we could meet a minimum spending requirement on a credit card with those bills!" :beer

Gemini
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Re: What's Your Credit Card Rewards Strategy?

Post by Gemini » Tue Aug 23, 2016 1:13 pm

CSR looks nice. I currently have CSP with 160K+ points - are you guys keeping both?

To confirm, you get $300 from now until December, $300 from Jan - Dec 2017, waived global entry fee, 100K points, $450 annual fee. When is this annual fee charged?

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slayed
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Re: What's Your Credit Card Rewards Strategy?

Post by slayed » Tue Aug 23, 2016 1:20 pm

Gemini wrote:CSR looks nice. I currently have CSP with 160K+ points - are you guys keeping both?

To confirm, you get $300 from now until December, $300 from Jan - Dec 2017, waived global entry fee, 100K points, $450 annual fee. When is this annual fee charged?


i plan on moving my CSP points to the CSR card (and then closing the CSP before the next annual fee). From what I have read the annual fee will be charged on your first statement.

Texanbybirth
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Re: What's Your Credit Card Rewards Strategy?

Post by Texanbybirth » Tue Aug 23, 2016 1:21 pm

Gemini wrote:CSR looks nice. I currently have CSP with 160K+ points - are you guys keeping both?

To confirm, you get $300 from now until December, $300 from Jan - Dec 2017, waived global entry fee, 100K points, $450 annual fee. When is this annual fee charged?


I've heard you can downgrade your CSP to a Freedom card. That's probably what I'll do, or just cancel the CSR altogether. We like to reset the 24 month calendar anyway to keep getting the sign up bonus.

Gemini
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Re: What's Your Credit Card Rewards Strategy?

Post by Gemini » Tue Aug 23, 2016 3:19 pm

Both wife and I have CSP. I just got my annual fee charged June 2016 - do you think they will prorate if I cancel or downgrade to freedom? Maybe I can downgrade and open up CSR? Thoughts? I need global entry - I have been meaning to get it.

Gemini
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Re: What's Your Credit Card Rewards Strategy?

Post by Gemini » Tue Aug 23, 2016 3:24 pm

guitarguy wrote:
slayed wrote:
guitarguy wrote:
One could argue that the optimal strategy for UR points is better served with the CSR as a "one year and done" card, and keep the CSP around instead. Will the extra 1% on travel and dining, combined with the $300 annual travel credit, be enough to offset that $450 AF? Hmm...looks like I should go run some numbers!!

EDIT: Don't forget about the Ink! :mrgreen:


the CSR after the travel credit only costs $65 more than the CSP (CSP has $95 AF). and the perks are quite a bit better (airport lounges, better rental coverage, etc). i haven't crunched the numbers myself but for someone for whom the $95 CSP fee was worth it i can't imagine this one not being better.


The rental coverage is the same as far as I can tell...both cards have primary coverage.

AU's cost $75/yr with the CSR. Without that, unless they get their own card at another $450/yr, others lose out on Priority Pass benefits. Since I pretty much always travel with my wife, this benefit becomes just about worthless without paying the AU fee. So there's that. Later honey...I'll be in the lounge.

We spend about $200/m on average eating out, and call it $1000 on an annual trip...even less if we cash in rewards and use the travel credit. A 1% difference for us crunching these numbers is only $35. As I was kind of suspecting...we just don't spend enough.

So far it's not looking like it's worth keeping to me. YMMV.



Interesting math. At what point does a CSR become worth it over CSP?

I always travel with wife as well - so the lounge point is a moot. Or unless we both get CSR, but then what happens second year? We now both have CSP. If we both now get CSR, and close the CSP, what will happen to the points one year from when we decide to close the CSR?

Gustie13
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Re: What's Your Credit Card Rewards Strategy?

Post by Gustie13 » Tue Aug 23, 2016 4:21 pm

Thank goodness business cards from Amex/USB/BOA don't count towards 5/24. I got 5 new cards in Oct before Chase announced the new rule, but thankfully 3 were business cards that don't count.
Applied for the CSR online yesterday morning, went pending. No update to status through last night so I called recon this morning and was approved with $34k limit.
As others have said, this is a pretty sweet card. $600 in travel reimbursement ($300 this calendar, $300 next), $100 global entry reimbursement, 100,000pts for $450. Count me in (for the first year :D )

mpsz
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Re: What's Your Credit Card Rewards Strategy?

Post by mpsz » Tue Aug 23, 2016 4:51 pm

I was also approved for the CSR.

Does anyone know if you can downgrade a CSP to a second Freedom / Freedom Unlimited if you already have one of each? Also curious on whether they will prorate the annual fee. Don't want to call until I have CSR in my hands and activated.

giesen5
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Re: What's Your Credit Card Rewards Strategy?

Post by giesen5 » Tue Aug 23, 2016 5:31 pm

mpsz wrote:I was also approved for the CSR.

Does anyone know if you can downgrade a CSP to a second Freedom / Freedom Unlimited if you already have one of each? Also curious on whether they will prorate the annual fee. Don't want to call until I have CSR in my hands and activated.


This is from Doctor of Credit, in 2015.


With Chase it depends on the card you want to cancel. For personal Chase issued cards (e.g Chase Sapphire Preferred) you have 60 days after the annual fee hits to cancel to get the annual fee reimbursed. For most Chase co-branded credit cards, the “unofficial official” policy is that they will be refunded if you cancel the card within 30 days of the annual fee hitting the account, although they will often make exceptions and refund it if it’s within 60 days. This isn’t the case with all co-branded cards, below we’ve listed the rules for each co-branded card (that we know about anyway).

michaeljc70
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Re: What's Your Credit Card Rewards Strategy?

Post by michaeljc70 » Tue Aug 23, 2016 5:33 pm

SRenaeP wrote:
michaeljc70 wrote:
SRenaeP wrote:
michaeljc70 wrote:
giesen5 wrote:Anybody try to apply for the Chase Sapphire Reserve yet? It goes live online tomorrow, was available in-branch today.

Mixed info on whether 5/24 applies yet. Some say that got denied over 5/24, others got approved.


Is the annual fee waived for the first year? $450 is a big annual fee. Not sure it is worth 50k more reward points over the standard Chase Sapphire if the fee isn't waived the 1st year.


The fee isn't waived but you get $300 of travel expenses reimbursed each year. So if you cancel before the first year is over, you will have gotten $600 reimbursed ($300 for 2016 and $300 for 2017) for your $450 in addition to the sign on bonus. In addition, they will also reimburse you for GE fees if you don't have that already. That makes it a no-brainer to me.

-Steph


What constitute a "travel expense"? The Amex card I believe is only for luggage fees, seat selection fees, change fees, etc. fees and not tickets.


Tickets, lodging, etc. which is part of the reason people (including me) are so excited.

https://www.chase.com/card-benefits/sap ... rve/travel

Merchants in the travel category include airlines, hotels, motels, timeshares, campgrounds, car rental agencies, cruise lines, travel agencies, discount travel sites, and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages.

-Steph


That does sound fantastic. I just booked a trip. Are there "placeholder" things you can buy to use the $300 if you don't have any other travel planned before year end? I am thinking AA giftcards, travel site giftcards, or something like that?

SRenaeP
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Re: What's Your Credit Card Rewards Strategy?

Post by SRenaeP » Tue Aug 23, 2016 5:49 pm

Gustie13 wrote:Thank goodness business cards from Amex/USB/BOA don't count towards 5/24. I got 5 new cards in Oct before Chase announced the new rule, but thankfully 3 were business cards that don't count.
Applied for the CSR online yesterday morning, went pending. No update to status through last night so I called recon this morning and was approved with $34k limit.
As others have said, this is a pretty sweet card. $600 in travel reimbursement ($300 this calendar, $300 next), $100 global entry reimbursement, 100,000pts for $450. Count me in (for the first year :D )


I applied online this afternoon and went pending. I'm either 5/24 or 6/24 depending on if they go by month or actual day of signup. I'm debating if calling recon will help or hurt my odds.

-Steph

SRenaeP
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Re: What's Your Credit Card Rewards Strategy?

Post by SRenaeP » Tue Aug 23, 2016 5:49 pm

michaeljc70 wrote:
SRenaeP wrote:
michaeljc70 wrote:
SRenaeP wrote:
michaeljc70 wrote:
Is the annual fee waived for the first year? $450 is a big annual fee. Not sure it is worth 50k more reward points over the standard Chase Sapphire if the fee isn't waived the 1st year.


The fee isn't waived but you get $300 of travel expenses reimbursed each year. So if you cancel before the first year is over, you will have gotten $600 reimbursed ($300 for 2016 and $300 for 2017) for your $450 in addition to the sign on bonus. In addition, they will also reimburse you for GE fees if you don't have that already. That makes it a no-brainer to me.

-Steph


What constitute a "travel expense"? The Amex card I believe is only for luggage fees, seat selection fees, change fees, etc. fees and not tickets.


Tickets, lodging, etc. which is part of the reason people (including me) are so excited.

https://www.chase.com/card-benefits/sap ... rve/travel

Merchants in the travel category include airlines, hotels, motels, timeshares, campgrounds, car rental agencies, cruise lines, travel agencies, discount travel sites, and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages.

-Steph


That does sound fantastic. I just booked a trip. Are there "placeholder" things you can buy to use the $300 if you don't have any other travel planned before year end? I am thinking AA giftcards, travel site giftcards, or something like that?


I suspect hotel or airline gift cards would count but I couldn't say for sure.

-Steph

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Re: What's Your Credit Card Rewards Strategy?

Post by giesen5 » Tue Aug 23, 2016 6:10 pm

mpsz wrote:I was also approved for the CSR.

Does anyone know if you can downgrade a CSP to a second Freedom / Freedom Unlimited if you already have one of each? Also curious on whether they will prorate the annual fee. Don't want to call until I have CSR in my hands and activated.


Another link for you regarding the annual fee: https://www.reddit.com/r/churning/comme ... graveyard/

mpsz
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Re: What's Your Credit Card Rewards Strategy?

Post by mpsz » Tue Aug 23, 2016 6:30 pm

giesen5 wrote:Another link for you regarding the annual fee: https://www.reddit.com/r/churning/comme ... graveyard/


Fantastic, thanks very much!

Gemini
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Re: What's Your Credit Card Rewards Strategy?

Post by Gemini » Tue Aug 23, 2016 6:50 pm

What is the diff between freedom and freedom unlikited? When downgrading CSP which one to go with?

mpsz
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Re: What's Your Credit Card Rewards Strategy?

Post by mpsz » Tue Aug 23, 2016 8:39 pm

Gemini wrote:What is the diff between freedom and freedom unlikited? When downgrading CSP which one to go with?


Freedom is 5x UR points on the rotating bonus categories, 1x UR point on everything else. Unlimited is just 1.5x UR on everything.

Loik098
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Re: What's Your Credit Card Rewards Strategy?

Post by Loik098 » Tue Aug 23, 2016 9:26 pm

SRenaeP wrote:
I applied online this afternoon and went pending. I'm either 5/24 or 6/24 depending on if they go by month or actual day of signup. I'm debating if calling recon will help or hurt my odds.

-Steph


Same here. Can you let us know if you decided to call them? I think I'll do it in a day or two if nothing comes back.

guitarguy
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Re: What's Your Credit Card Rewards Strategy?

Post by guitarguy » Wed Aug 24, 2016 11:32 am

Gemini wrote:
guitarguy wrote:
slayed wrote:
guitarguy wrote:
One could argue that the optimal strategy for UR points is better served with the CSR as a "one year and done" card, and keep the CSP around instead. Will the extra 1% on travel and dining, combined with the $300 annual travel credit, be enough to offset that $450 AF? Hmm...looks like I should go run some numbers!!

EDIT: Don't forget about the Ink! :mrgreen:


the CSR after the travel credit only costs $65 more than the CSP (CSP has $95 AF). and the perks are quite a bit better (airport lounges, better rental coverage, etc). i haven't crunched the numbers myself but for someone for whom the $95 CSP fee was worth it i can't imagine this one not being better.


The rental coverage is the same as far as I can tell...both cards have primary coverage.

AU's cost $75/yr with the CSR. Without that, unless they get their own card at another $450/yr, others lose out on Priority Pass benefits. Since I pretty much always travel with my wife, this benefit becomes just about worthless without paying the AU fee. So there's that. Later honey...I'll be in the lounge.

We spend about $200/m on average eating out, and call it $1000 on an annual trip...even less if we cash in rewards and use the travel credit. A 1% difference for us crunching these numbers is only $35. As I was kind of suspecting...we just don't spend enough.

So far it's not looking like it's worth keeping to me. YMMV.



Interesting math. At what point does a CSR become worth it over CSP?

I always travel with wife as well - so the lounge point is a moot. Or unless we both get CSR, but then what happens second year? We now both have CSP. If we both now get CSR, and close the CSP, what will happen to the points one year from when we decide to close the CSR?


Before closing any particular card, just transfer the points from the card you want to close, to another card that you're keeping or to a travel partner.

michaeljc70
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Re: What's Your Credit Card Rewards Strategy?

Post by michaeljc70 » Wed Aug 24, 2016 12:26 pm

SRenaeP wrote:
michaeljc70 wrote:
SRenaeP wrote:
michaeljc70 wrote:
SRenaeP wrote:
The fee isn't waived but you get $300 of travel expenses reimbursed each year. So if you cancel before the first year is over, you will have gotten $600 reimbursed ($300 for 2016 and $300 for 2017) for your $450 in addition to the sign on bonus. In addition, they will also reimburse you for GE fees if you don't have that already. That makes it a no-brainer to me.

-Steph


What constitute a "travel expense"? The Amex card I believe is only for luggage fees, seat selection fees, change fees, etc. fees and not tickets.


Tickets, lodging, etc. which is part of the reason people (including me) are so excited.

https://www.chase.com/card-benefits/sap ... rve/travel

Merchants in the travel category include airlines, hotels, motels, timeshares, campgrounds, car rental agencies, cruise lines, travel agencies, discount travel sites, and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages.

-Steph


That does sound fantastic. I just booked a trip. Are there "placeholder" things you can buy to use the $300 if you don't have any other travel planned before year end? I am thinking AA giftcards, travel site giftcards, or something like that?


I suspect hotel or airline gift cards would count but I couldn't say for sure.

-Steph


I got approved for the CSR. I figure my take from the major benefits will be (cancelling before 2nd year):

-$450 annual fee
+$1500 100k points
+100 TSA fee reimbursement
+300 travel credit 2016
+300 travel credit 2017
_________________________
$1750

Not bad for 15 minutes work!

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cookymonster
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Re: What's Your Credit Card Rewards Strategy?

Post by cookymonster » Wed Aug 24, 2016 12:30 pm

I applied in the branch and got denied, even called the appeal line (888-609-7805) and was given a firm "no." Wish I knew this card was coming along when I opened the Southwest card two months ago :x .

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