Chase Sapphire Reserve

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allenlucky
Posts: 8
Joined: Mon Jan 02, 2017 12:33 pm

Re: Chase Sapphire Reserve

Post by allenlucky » Mon Jan 09, 2017 8:47 pm

Also, does anyone know what happens if you book travel through the Chase Ultimate Rewards portal and then cancel the card? Is this kosher?

Drew777
Posts: 597
Joined: Tue Apr 29, 2014 3:53 pm

Re: Chase Sapphire Reserve

Post by Drew777 » Tue Jan 10, 2017 7:52 am

allenlucky wrote:i finally signed up for the Chase Reserve, adding an authorized user to help get the minimum spend. Does anyone know what happens once the authorized user account is cancelled (which I plan to do before the next annual fee charge)? Does this change the status of the account in any way and risk losing any points, etc?

I assume there is a standard credit card answer to this, but if anyone knows for sure about the Reserve that would be great. Thanks!


Cancelling an authorized user doesn't affect your account at all. You won't lose any points.

Drew777
Posts: 597
Joined: Tue Apr 29, 2014 3:53 pm

Re: Chase Sapphire Reserve

Post by Drew777 » Tue Jan 10, 2017 7:52 am

allenlucky wrote:Also, does anyone know what happens if you book travel through the Chase Ultimate Rewards portal and then cancel the card? Is this kosher?


Nothing happens, you'll be fine. You would just lose any unredeemed points.

Barefootgirl
Posts: 2152
Joined: Tue Oct 06, 2009 7:05 pm

Re: Chase Sapphire Reserve

Post by Barefootgirl » Tue Jan 10, 2017 9:36 am

There are no Chase branches in my state, so while out of state over the holidays, I stopped at a branch in that area.

I walked out 3 hours later, no CSR approval. They spent 2.5 hours trying to sell me on the concept of having Chase as my bank of choice, but in the end, couldn't convince "Lending" (whoever they are) to approve me for a CSR. Was a waste of time for me. Every time I got up to leave, they pulled me back with the promise of the CSR approval. I needed a shower when I left, reminded me of an Ameriprise sponsored luncheon.
How many retired people does it take to screw in a lightbulb? Only one, but he takes all day.

notoriusjt2
Posts: 46
Joined: Mon Jan 12, 2015 8:11 am

Re: Chase Sapphire Reserve

Post by notoriusjt2 » Tue Jan 10, 2017 12:12 pm

For those of you who already have this card...

Does the annual fee get billed on the first statement?

TravelforFun
Posts: 825
Joined: Tue Dec 04, 2012 11:05 pm

Re: Chase Sapphire Reserve

Post by TravelforFun » Tue Jan 10, 2017 12:20 pm

notoriusjt2 wrote:For those of you who already have this card...

Does the annual fee get billed on the first statement?

Yes. On the first statement.

Da5id
Posts: 1503
Joined: Fri Feb 26, 2016 8:20 am

Re: Chase Sapphire Reserve

Post by Da5id » Tue Jan 10, 2017 12:25 pm

notoriusjt2 wrote:For those of you who already have this card...

Does the annual fee get billed on the first statement?


Yes.

The $300 credit shows up immediately too, as soon as something that qualifies posts. I paid for a hotel earlier this week, credit is already there...

P&C actuary
Posts: 104
Joined: Fri Jul 19, 2013 12:27 pm

Re: Chase Sapphire Reserve

Post by P&C actuary » Tue Jan 10, 2017 1:17 pm

Barefootgirl wrote:There are no Chase branches in my state, so while out of state over the holidays, I stopped at a branch in that area.

I walked out 3 hours later, no CSR approval. They spent 2.5 hours trying to sell me on the concept of having Chase as my bank of choice, but in the end, couldn't convince "Lending" (whoever they are) to approve me for a CSR. Was a waste of time for me. Every time I got up to leave, they pulled me back with the promise of the CSR approval. I needed a shower when I left, reminded me of an Ameriprise sponsored luncheon.


Try applying online. It states to apply by Jan 11.

KF1981
Posts: 3
Joined: Thu Dec 29, 2016 9:50 pm

Re: Chase Sapphire Reserve

Post by KF1981 » Tue Jan 10, 2017 4:24 pm

P&C actuary wrote:
Barefootgirl wrote:There are no Chase branches in my state, so while out of state over the holidays, I stopped at a branch in that area.

I walked out 3 hours later, no CSR approval. They spent 2.5 hours trying to sell me on the concept of having Chase as my bank of choice, but in the end, couldn't convince "Lending" (whoever they are) to approve me for a CSR. Was a waste of time for me. Every time I got up to leave, they pulled me back with the promise of the CSR approval. I needed a shower when I left, reminded me of an Ameriprise sponsored luncheon.


Try applying online. It states to apply by Jan 11.


I literally just applied online and was approved. It took all of 5 minutes.

rrppve
Posts: 817
Joined: Sun Aug 12, 2012 12:35 am

Re: Chase Sapphire Reserve

Post by rrppve » Tue Jan 10, 2017 7:10 pm

In branch was easy. I'd previously applied on-line but was denied due to the 5/24 rule.
Went to a branch today and was approved in 5 minutes. Only other Chase account is a Freedom credit card.
Thanks to the Board for letting me know about the in branch option.

ikowik
Posts: 103
Joined: Tue Dec 23, 2014 6:52 pm

Re: Chase Sapphire Reserve

Post by ikowik » Tue Jan 10, 2017 8:11 pm

Remember, if like me you have frozen your credit reports, to lift it so Chase can access your credit ratings. I applied online, forgot I had a freeze on, got a letter in mail asking for a PIN or lifting of the freeze (they use Experian). After doing a temporary unfreeze online with Experian, I called the number and was approved in a few minutes.

hmw
Posts: 384
Joined: Sun Mar 02, 2014 11:44 am

Re: Chase Sapphire Reserve

Post by hmw » Tue Jan 10, 2017 8:22 pm

rrppve wrote:In branch was easy. I'd previously applied on-line but was denied due to the 5/24 rule.
Went to a branch today and was approved in 5 minutes. Only other Chase account is a Freedom credit card.
Thanks to the Board for letting me know about the in branch option.


I applied on line and was not approved immediately. I suspect that I will be denied.

I haven't been inside a bank branch for a long time. Who do you talk to at the branch? Do you already have a banking relationship with your local branch?

Thanks

rrppve
Posts: 817
Joined: Sun Aug 12, 2012 12:35 am

Re: Chase Sapphire Reserve

Post by rrppve » Tue Jan 10, 2017 9:18 pm

Just walk in and speak to anyone with a desk, not the tellers. They're friendly. They want you to open accounts.

Traveler
Posts: 473
Joined: Fri Aug 30, 2013 9:07 pm

Re: Chase Sapphire Reserve

Post by Traveler » Tue Jan 10, 2017 10:31 pm

I walked in and said I was there to apply for the card. They asked if I had an account with them but there was no pressure to open one. It took about 15 minutes. The guy was very pleasant to work with.

hmw
Posts: 384
Joined: Sun Mar 02, 2014 11:44 am

Re: Chase Sapphire Reserve

Post by hmw » Wed Jan 11, 2017 12:10 am

Traveler wrote:I walked in and said I was there to apply for the card. They asked if I had an account with them but there was no pressure to open one. It took about 15 minutes. The guy was very pleasant to work with.


Were you turned down on line initially? Thanks

SRenaeP
Posts: 631
Joined: Tue Jan 19, 2010 9:05 pm

Re: Chase Sapphire Reserve

Post by SRenaeP » Wed Jan 11, 2017 7:53 am

hmw wrote:
rrppve wrote:In branch was easy. I'd previously applied on-line but was denied due to the 5/24 rule.
Went to a branch today and was approved in 5 minutes. Only other Chase account is a Freedom credit card.
Thanks to the Board for letting me know about the in branch option.


I applied on line and was not approved immediately. I suspect that I will be denied.

I haven't been inside a bank branch for a long time. Who do you talk to at the branch? Do you already have a banking relationship with your local branch?

Thanks


Do you have other Chase CCs? I wasn't instantly approved so I assumed I would be denied. It turns out I was approved and the delay was due to them reducing my other CC limits so as not to extend too much Chase credit to me.

-Steph

FB01
Posts: 467
Joined: Fri May 20, 2011 12:36 am

Re: Chase Sapphire Reserve

Post by FB01 » Wed Jan 11, 2017 11:26 am

Da5id wrote:
notoriusjt2 wrote:For those of you who already have this card...

Does the annual fee get billed on the first statement?


Yes.

The $300 credit shows up immediately too, as soon as something that qualifies posts. I paid for a hotel earlier this week, credit is already there...



What if a book for a hotel in June for 400 dollars. I get the 300 dollars credit on my card and then if I cancel my hotel reservations, does the credit goes away or it works?

Thanks,

mikep
Posts: 3596
Joined: Wed Apr 22, 2009 9:27 pm

Re: Chase Sapphire Reserve

Post by mikep » Wed Jan 11, 2017 11:38 am

Drew777 wrote:
allenlucky wrote:i finally signed up for the Chase Reserve, adding an authorized user to help get the minimum spend. Does anyone know what happens once the authorized user account is cancelled (which I plan to do before the next annual fee charge)? Does this change the status of the account in any way and risk losing any points, etc?

I assume there is a standard credit card answer to this, but if anyone knows for sure about the Reserve that would be great. Thanks!


Cancelling an authorized user doesn't affect your account at all. You won't lose any points.


You lose the ability to transfer UR to the authorized user's frequent flyer/hotel accounts.

Da5id
Posts: 1503
Joined: Fri Feb 26, 2016 8:20 am

Re: Chase Sapphire Reserve

Post by Da5id » Wed Jan 11, 2017 12:23 pm

FB01 wrote:What if a book for a hotel in June for 400 dollars. I get the 300 dollars credit on my card and then if I cancel my hotel reservations, does the credit goes away or it works?

Thanks,


If you are looking to game them, why? Do you think you won't otherwise get the credit? I'd suggest not gaming them myself.

Anyway, I don't know the actual answer here.

Traveler
Posts: 473
Joined: Fri Aug 30, 2013 9:07 pm

Re: Chase Sapphire Reserve

Post by Traveler » Wed Jan 11, 2017 1:20 pm

hmw wrote:
Traveler wrote:I walked in and said I was there to apply for the card. They asked if I had an account with them but there was no pressure to open one. It took about 15 minutes. The guy was very pleasant to work with.


Were you turned down on line initially? Thanks


No, I have a branch down the street so thought I would just stop in one Saturday. I didn't apply online.

SRenaeP
Posts: 631
Joined: Tue Jan 19, 2010 9:05 pm

Re: Chase Sapphire Reserve

Post by SRenaeP » Wed Jan 11, 2017 1:56 pm

FB01 wrote:
Da5id wrote:
notoriusjt2 wrote:For those of you who already have this card...

Does the annual fee get billed on the first statement?


Yes.

The $300 credit shows up immediately too, as soon as something that qualifies posts. I paid for a hotel earlier this week, credit is already there...



What if a book for a hotel in June for 400 dollars. I get the 300 dollars credit on my card and then if I cancel my hotel reservations, does the credit goes away or it works?

Thanks,


You have to actually *pay* for travel, not just make a reservation, in order to get the credit (which is a reimbursement). If you book a pre-paid reservation and then cancel, you typically won't get refunded by the hotel.

-Steph

jcchen
Posts: 57
Joined: Mon Oct 27, 2014 11:08 pm

Re: Chase Sapphire Reserve

Post by jcchen » Wed Jan 11, 2017 2:17 pm

Since hotel bills are normally charged after the stay, I bought a Marriott gift card mid Dec to insure use of my 2016 $300 travel credit. I plan to apply the gift card towards a future 2017 stay. And if the hotel stay doesnt pan out, I can sell the gift card.

I can attest that a physical gift card is coded as travel. The doctorofcredit website lists another ways to spend the $300 w/o really traveling.

TravelGeek
Posts: 1170
Joined: Sat Oct 25, 2014 3:23 pm

Re: Chase Sapphire Reserve

Post by TravelGeek » Wed Jan 11, 2017 2:18 pm

TravelforFun wrote:
notoriusjt2 wrote:For those of you who already have this card...

Does the annual fee get billed on the first statement?

Yes. On the first statement.


No, not for me. The AF posted a few days after the first statement closed.

Drew777
Posts: 597
Joined: Tue Apr 29, 2014 3:53 pm

Re: Chase Sapphire Reserve

Post by Drew777 » Thu Jan 12, 2017 10:42 am

mikep wrote:
Drew777 wrote:
allenlucky wrote:i finally signed up for the Chase Reserve, adding an authorized user to help get the minimum spend. Does anyone know what happens once the authorized user account is cancelled (which I plan to do before the next annual fee charge)? Does this change the status of the account in any way and risk losing any points, etc?

I assume there is a standard credit card answer to this, but if anyone knows for sure about the Reserve that would be great. Thanks!


Cancelling an authorized user doesn't affect your account at all. You won't lose any points.


You lose the ability to transfer UR to the authorized user's frequent flyer/hotel accounts.


Right, but you can always add them back as an authorized user if needed.

mikep
Posts: 3596
Joined: Wed Apr 22, 2009 9:27 pm

Re: Chase Sapphire Reserve

Post by mikep » Thu Jan 12, 2017 11:39 am

Drew777 wrote:
mikep wrote:
Drew777 wrote:
allenlucky wrote:i finally signed up for the Chase Reserve, adding an authorized user to help get the minimum spend. Does anyone know what happens once the authorized user account is cancelled (which I plan to do before the next annual fee charge)? Does this change the status of the account in any way and risk losing any points, etc?

I assume there is a standard credit card answer to this, but if anyone knows for sure about the Reserve that would be great. Thanks!


Cancelling an authorized user doesn't affect your account at all. You won't lose any points.


You lose the ability to transfer UR to the authorized user's frequent flyer/hotel accounts.


Right, but you can always add them back as an authorized user if needed.


True, but the cost is $75 for an authorized user for this card.

afan
Posts: 2943
Joined: Sun Jul 25, 2010 4:01 pm

Re: Chase Sapphire Reserve

Post by afan » Thu Jan 12, 2017 1:27 pm

Since the whole idea was to capture the points bonus, worth more than the cost, we each got our own cards. Adding an authorized user costs money and does not give you a points bonus..

Signing up online was a snap. The approval took a few seconds less time than the couple of minutes spent filling out the form.

I suspect the people being denied are hard core credit card flippers. We don't have the patience to play that game. So we did not show a history of opening and closing accounts to get bonuses.

They will have to come up with something pretty nice to get us to renew, but we are playing it straight. For someone who really is not going to have a legitimate use for the travel credit you have to ask whether the card is worth it. Gaming the system seems to be asking for trouble.
We don't know how to beat the market on a risk-adjusted basis, and we don't know anyone that does know either | --Swedroe | We assume that markets are efficient, that prices are right | --Fama

DeerRunner
Posts: 36
Joined: Tue Jun 09, 2009 3:57 pm

Re: Chase Sapphire Reserve

Post by DeerRunner » Thu Jan 12, 2017 2:57 pm

Its' after the 11th, but the signup page is still active. Maybe they'll extend the offer. If so, couple questions;

- Are there blackout dates and restrictions on booking travel through the Chase site. Are you limited to certain airline tickets, or is it the same as booking on a site like Kayak?
- Can I work towards the $4k in purchase by paying bills and mortgage? Do I get points for these?
- For a family of four, would there be any reason not to apply for two cards so we get 2x the bennefits?
- Does the airport lounge access cost extra? Does it extend to family members?

EDIT: Just looked today, Jan 13th, and see that the point bonus is down to 50,000. Bummer.

Thanks!
Last edited by DeerRunner on Fri Jan 13, 2017 10:50 am, edited 1 time in total.

afan
Posts: 2943
Joined: Sun Jul 25, 2010 4:01 pm

Re: Chase Sapphire Reserve

Post by afan » Thu Jan 12, 2017 5:03 pm

The cost of Priority Pass Select is included in your $450 annual fee. I don't have the details, but travelling companions and family members are included. Check the fine print.

For me, I doubt I will ever use it. I almost always take direct flights, no layovers waiting for a connecting flight. I would never get to the airport early so I can hang out in the lounge, and I have too much anxiety about missing something to wait anywhere other than the boarding area. One exception was an international flight for which I arrived comically early. I used the lounge. It was nice, but I would not pay anything to have it available.
We don't know how to beat the market on a risk-adjusted basis, and we don't know anyone that does know either | --Swedroe | We assume that markets are efficient, that prices are right | --Fama

cachemoney
Posts: 46
Joined: Fri Jul 08, 2016 9:57 am

Re: Chase Sapphire Reserve

Post by cachemoney » Fri Jan 13, 2017 12:37 pm

I got lucky and signed up yesterday just before they dropped the bonus to 50k.

I was on the fence earlier in the week, I wanted to take advantage, but the $4,000 in 3 months was worrying me. Then I realized I had some upcoming business trips coming up in the next 3-8 weeks. Hotel stays and flying to Mexico and food should easily be 4k.

Hopefully I find value in keeping the CSR after this year. Most likely I will get cancel my current travel card my Chase Marriott card, which was a great signup bonus a few years ago. It has an $85 annual fee but you get free hotel per year that cancelled it out.

mcraepat9
Posts: 757
Joined: Thu Jul 16, 2015 11:46 am

Re: Chase Sapphire Reserve

Post by mcraepat9 » Fri Jan 13, 2017 12:39 pm

cachemoney wrote:I got lucky and signed up yesterday just before they dropped the bonus to 50k.

I was on the fence earlier in the week, I wanted to take advantage, but the $4,000 in 3 months was worrying me. Then I realized I had some upcoming business trips coming up in the next 3-8 weeks. Hotel stays and flying to Mexico and food should easily be 4k.

Hopefully I find value in keeping the CSR after this year. Most likely I will get cancel my current travel card my Chase Marriott card, which was a great signup bonus a few years ago. It has an $85 annual fee but you get free hotel per year that cancelled it out.


Unless someone is genuinely cash strapped and lives paycheck to paycheck, a minimum spend should not be a dealbreaker for anyone. You can always go to a drugstore and buy $4000 in Visa gift cards if you had to.
Amateur investors are not cool-headed logicians.

mac808
Posts: 418
Joined: Mon Sep 19, 2011 8:45 pm

Re: Chase Sapphire Reserve

Post by mac808 » Fri Jan 13, 2017 12:39 pm

I was told by a friend who manages a Chase branch that the offer will remain @ 100k points for another month or so for those who apply in branch. Not sure if a Chase account is needed or not. YMMV.

fareastwarriors
Posts: 892
Joined: Tue Feb 14, 2012 12:31 pm

Re: Chase Sapphire Reserve

Post by fareastwarriors » Fri Jan 13, 2017 3:04 pm

mac808 wrote:I was told by a friend who manages a Chase branch that the offer will remain @ 100k points for another month or so for those who apply in branch. Not sure if a Chase account is needed or not. YMMV.



Yup.

And the 100,000-point bonus offer will be available until March 12, 2017, if you apply in person at a Chase bank branch.


https://www.nerdwallet.com/blog/credit-cards/chase-sapphire-reserve-cutting-sign-up-bonus/

sharpjm
Posts: 657
Joined: Fri Feb 20, 2015 2:41 pm

Re: Chase Sapphire Reserve

Post by sharpjm » Mon Jan 16, 2017 11:19 am

mcraepat9 wrote:
cachemoney wrote:I got lucky and signed up yesterday just before they dropped the bonus to 50k.

I was on the fence earlier in the week, I wanted to take advantage, but the $4,000 in 3 months was worrying me. Then I realized I had some upcoming business trips coming up in the next 3-8 weeks. Hotel stays and flying to Mexico and food should easily be 4k.

Hopefully I find value in keeping the CSR after this year. Most likely I will get cancel my current travel card my Chase Marriott card, which was a great signup bonus a few years ago. It has an $85 annual fee but you get free hotel per year that cancelled it out.


Unless someone is genuinely cash strapped and lives paycheck to paycheck, a minimum spend should not be a dealbreaker for anyone. You can always go to a drugstore and buy $4000 in Visa gift cards if you had to.

You can't "always go to a drugstore and by $4000 in Visa gift cards"

There are many places that do not accept credit card as payment and handling and dealing with $4k of VGCs is not something I'd recommend for anyone that is new to this. And lastly, while many people do buy VGCs to meet minimum spend, the terms of the signup offer explicitly exclude cash equivalents; so while unlikely, there is always a possibility that Chase would not award the points if you go this route.

mcraepat9
Posts: 757
Joined: Thu Jul 16, 2015 11:46 am

Re: Chase Sapphire Reserve

Post by mcraepat9 » Mon Jan 16, 2017 4:09 pm

sharpjm wrote:
mcraepat9 wrote:
cachemoney wrote:I got lucky and signed up yesterday just before they dropped the bonus to 50k.

I was on the fence earlier in the week, I wanted to take advantage, but the $4,000 in 3 months was worrying me. Then I realized I had some upcoming business trips coming up in the next 3-8 weeks. Hotel stays and flying to Mexico and food should easily be 4k.

Hopefully I find value in keeping the CSR after this year. Most likely I will get cancel my current travel card my Chase Marriott card, which was a great signup bonus a few years ago. It has an $85 annual fee but you get free hotel per year that cancelled it out.


Unless someone is genuinely cash strapped and lives paycheck to paycheck, a minimum spend should not be a dealbreaker for anyone. You can always go to a drugstore and buy $4000 in Visa gift cards if you had to.

You can't "always go to a drugstore and by $4000 in Visa gift cards"

There are many places that do not accept credit card as payment and handling and dealing with $4k of VGCs is not something I'd recommend for anyone that is new to this. And lastly, while many people do buy VGCs to meet minimum spend, the terms of the signup offer explicitly exclude cash equivalents; so while unlikely, there is always a possibility that Chase would not award the points if you go this route.


Everything above is true, but note that I did just this for my Chase Sapphire Reserve and did in fact receive my signup bonus.
Amateur investors are not cool-headed logicians.

SRenaeP
Posts: 631
Joined: Tue Jan 19, 2010 9:05 pm

Re: Chase Sapphire Reserve

Post by SRenaeP » Tue Jan 17, 2017 8:38 am

mcraepat9 wrote:
sharpjm wrote:
mcraepat9 wrote:
cachemoney wrote:I got lucky and signed up yesterday just before they dropped the bonus to 50k.

I was on the fence earlier in the week, I wanted to take advantage, but the $4,000 in 3 months was worrying me. Then I realized I had some upcoming business trips coming up in the next 3-8 weeks. Hotel stays and flying to Mexico and food should easily be 4k.

Hopefully I find value in keeping the CSR after this year. Most likely I will get cancel my current travel card my Chase Marriott card, which was a great signup bonus a few years ago. It has an $85 annual fee but you get free hotel per year that cancelled it out.


Unless someone is genuinely cash strapped and lives paycheck to paycheck, a minimum spend should not be a dealbreaker for anyone. You can always go to a drugstore and buy $4000 in Visa gift cards if you had to.

You can't "always go to a drugstore and by $4000 in Visa gift cards"

There are many places that do not accept credit card as payment and handling and dealing with $4k of VGCs is not something I'd recommend for anyone that is new to this. And lastly, while many people do buy VGCs to meet minimum spend, the terms of the signup offer explicitly exclude cash equivalents; so while unlikely, there is always a possibility that Chase would not award the points if you go this route.


Everything above is true, but note that I did just this for my Chase Sapphire Reserve and did in fact receive my signup bonus.


I wouldn't advertise that fact on the internet. Banks, airlines, etc. are getting smarter and more vigilant when it comes to churners and hackers. There have been instances of people getting points/miles/bonuses clawed back due to shenanigans.

-Steph

mcraepat9
Posts: 757
Joined: Thu Jul 16, 2015 11:46 am

Re: Chase Sapphire Reserve

Post by mcraepat9 » Tue Jan 17, 2017 9:33 am

SRenaeP wrote:
mcraepat9 wrote:
sharpjm wrote:
mcraepat9 wrote:
cachemoney wrote:I got lucky and signed up yesterday just before they dropped the bonus to 50k.

I was on the fence earlier in the week, I wanted to take advantage, but the $4,000 in 3 months was worrying me. Then I realized I had some upcoming business trips coming up in the next 3-8 weeks. Hotel stays and flying to Mexico and food should easily be 4k.

Hopefully I find value in keeping the CSR after this year. Most likely I will get cancel my current travel card my Chase Marriott card, which was a great signup bonus a few years ago. It has an $85 annual fee but you get free hotel per year that cancelled it out.


Unless someone is genuinely cash strapped and lives paycheck to paycheck, a minimum spend should not be a dealbreaker for anyone. You can always go to a drugstore and buy $4000 in Visa gift cards if you had to.

You can't "always go to a drugstore and by $4000 in Visa gift cards"

There are many places that do not accept credit card as payment and handling and dealing with $4k of VGCs is not something I'd recommend for anyone that is new to this. And lastly, while many people do buy VGCs to meet minimum spend, the terms of the signup offer explicitly exclude cash equivalents; so while unlikely, there is always a possibility that Chase would not award the points if you go this route.


Everything above is true, but note that I did just this for my Chase Sapphire Reserve and did in fact receive my signup bonus.


I wouldn't advertise that fact on the internet. Banks, airlines, etc. are getting smarter and more vigilant when it comes to churners and hackers. There have been instances of people getting points/miles/bonuses clawed back due to shenanigans.

-Steph


I actually called Chase customer service to confirm it was acceptable and they did so confirm.
Amateur investors are not cool-headed logicians.

Da5id
Posts: 1503
Joined: Fri Feb 26, 2016 8:20 am

Re: Chase Sapphire Reserve

Post by Da5id » Tue Jan 17, 2017 9:41 am

mcraepat9 wrote:I actually called Chase customer service to confirm it was acceptable and they did so confirm.


Similarly, for Chase Freedom current quarter (gas stations) as far as I can see in all their literature all they care about is that the merchant code is correct. So if you buy gift cards at your gas station, seems to be good. Does someone have a link to Chase terms that say otherwise? The Chase Freedom FAQ says:

Merchants who accept Visa/MasterCard credit cards are assigned a merchant code which is determined by the merchant or its processor in accordance with Visa/MasterCard procedures based on the kinds of products and services they primarily sell. We group similar merchant codes into categories for purposes of making rewards offers to you. Please note we make every effort to include all relevant merchant codes in its rewards categories. However, even though a merchant or some of the items that it sells may appear to fit within a rewards category, the merchant may not have a merchant code in that category. When this occurs, purchases with that merchant won't qualify for reward offers on purchases in that category. Purchases submitted by you, an authorized user, or the merchant through third-party payment accounts, mobile or wireless card readers, online or mobile digital wallets, or similar technology will not qualify in a rewards category if the technology is not set up to process the purchase in that rewards category.


Is there something buried elsewhere (in the Chase card agreement?) that says purchases of gift cards at a gas station isn't legit?

mcraepat9
Posts: 757
Joined: Thu Jul 16, 2015 11:46 am

Re: Chase Sapphire Reserve

Post by mcraepat9 » Tue Jan 17, 2017 9:44 am

Da5id wrote:
mcraepat9 wrote:I actually called Chase customer service to confirm it was acceptable and they did so confirm.


Similarly, for Chase Freedom current quarter (gas stations) as far as I can see in all their literature all they care about is that the merchant code is correct. So if you buy gift cards at your gas station, seems to be good. Does someone have a link to Chase terms that say otherwise? The Chase Freedom FAQ says:

Merchants who accept Visa/MasterCard credit cards are assigned a merchant code which is determined by the merchant or its processor in accordance with Visa/MasterCard procedures based on the kinds of products and services they primarily sell. We group similar merchant codes into categories for purposes of making rewards offers to you. Please note we make every effort to include all relevant merchant codes in its rewards categories. However, even though a merchant or some of the items that it sells may appear to fit within a rewards category, the merchant may not have a merchant code in that category. When this occurs, purchases with that merchant won't qualify for reward offers on purchases in that category. Purchases submitted by you, an authorized user, or the merchant through third-party payment accounts, mobile or wireless card readers, online or mobile digital wallets, or similar technology will not qualify in a rewards category if the technology is not set up to process the purchase in that rewards category.


Is there something buried elsewhere (in the Chase card agreement?) that says purchases of gift cards at a gas station isn't legit?


Da5id, this is what I was told by the Chase rep. As long as it is coded as a normal retail purchase (and not a "cash equivalent"), it counts. Again, I was forthright with the rep, gave my name and account number and did not hide my identity.
Amateur investors are not cool-headed logicians.

Da5id
Posts: 1503
Joined: Fri Feb 26, 2016 8:20 am

Re: Chase Sapphire Reserve

Post by Da5id » Tue Jan 17, 2017 9:50 am

mcraepat9 wrote:Da5id, this is what I was told by the Chase rep. As long as it is coded as a normal retail purchase (and not a "cash equivalent"), it counts. Again, I was forthright with the rep, gave my name and account number and did not hide my identity.


Wasn't questioning that. Was wondering for those arguing the other side (that buying gift cards can get you in trouble) what the source of that trouble might be.

SRenaeP
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Re: Chase Sapphire Reserve

Post by SRenaeP » Tue Jan 17, 2017 9:50 am

Da5id wrote:
mcraepat9 wrote:I actually called Chase customer service to confirm it was acceptable and they did so confirm.


Similarly, for Chase Freedom current quarter (gas stations) as far as I can see in all their literature all they care about is that the merchant code is correct. So if you buy gift cards at your gas station, seems to be good. Does someone have a link to Chase terms that say otherwise? The Chase Freedom FAQ says:

Merchants who accept Visa/MasterCard credit cards are assigned a merchant code which is determined by the merchant or its processor in accordance with Visa/MasterCard procedures based on the kinds of products and services they primarily sell. We group similar merchant codes into categories for purposes of making rewards offers to you. Please note we make every effort to include all relevant merchant codes in its rewards categories. However, even though a merchant or some of the items that it sells may appear to fit within a rewards category, the merchant may not have a merchant code in that category. When this occurs, purchases with that merchant won't qualify for reward offers on purchases in that category. Purchases submitted by you, an authorized user, or the merchant through third-party payment accounts, mobile or wireless card readers, online or mobile digital wallets, or similar technology will not qualify in a rewards category if the technology is not set up to process the purchase in that rewards category.


Is there something buried elsewhere (in the Chase card agreement?) that says purchases of gift cards at a gas station isn't legit?


The terms exclude "cash-like transactions" and "cash-like charges". I imagine whether or not gift cards fall under those categories is subject to interpretation. There have been several anecdotes on this and related threads about being told something by the customer service rep that turned out not to be the case.

I doubt Chase wants to come after anyone for the occasional gift card purchase. However, signing up for a card with a high sign on bonus then immediately meeting the minimum spend with gift card purchases may raise a red flag. I would proceed with caution.

-Steph

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Re: Chase Sapphire Reserve

Post by mcraepat9 » Tue Jan 17, 2017 9:54 am

Da5id wrote:
mcraepat9 wrote:Da5id, this is what I was told by the Chase rep. As long as it is coded as a normal retail purchase (and not a "cash equivalent"), it counts. Again, I was forthright with the rep, gave my name and account number and did not hide my identity.


Wasn't questioning that. Was wondering for those arguing the other side (that buying gift cards can get you in trouble) what the source of that trouble might be.


Sorry for the confusion, I wasn't disagreeing with you. I was confirming that what you wrote is nearly verbatim what the Chase CSR told me.
Amateur investors are not cool-headed logicians.

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VictoriaF
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Re: Chase Sapphire Reserve

Post by VictoriaF » Tue Jan 17, 2017 11:52 am

SRenaeP wrote:The terms exclude "cash-like transactions" and "cash-like charges". I imagine whether or not gift cards fall under those categories is subject to interpretation. There have been several anecdotes on this and related threads about being told something by the customer service rep that turned out not to be the case.

I doubt Chase wants to come after anyone for the occasional gift card purchase. However, signing up for a card with a high sign on bonus then immediately meeting the minimum spend with gift card purchases may raise a red flag. I would proceed with caution.

-Steph


Steph,

Thank you for the reminders of prudence. I agree with you that exercising extra caution is far preferable to pushing ambiguities to the limit and then dealing with unpleasant consequences. Freedom and Sapphire cards are far too valuable to risk one's relationship with Chase.

Happy travels,
Victoria
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Re: Chase Sapphire Reserve

Post by 4th and Inches » Thu Jan 26, 2017 9:25 am

I activated my new card on January 19th after applying the day of the deadline. I still have not had the $450 annual fee post to me account. I thought that once you activate the card the fee posts nearly immediately. I do have a visa Southwest Rapid Rewards Plus card so I wonder if that has something to do with it.

How long did it take you to have the $450 post after activating?

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Re: Chase Sapphire Reserve

Post by student » Thu Jan 26, 2017 9:31 am

4th and Inches wrote:How long did it take you to have the $450 post after activating?

A couple of weeks.

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Re: Chase Sapphire Reserve

Post by 4th and Inches » Thu Jan 26, 2017 9:42 am

^^^^^Thanks.

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Re: Chase Sapphire Reserve

Post by Mudpuppy » Thu Jan 26, 2017 11:25 am

4th and Inches wrote:How long did it take you to have the $450 post after activating?

Mine posted after I made the first charge, which was pretty soon after receiving it since I was planning for a business trip then.

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Re: Chase Sapphire Reserve

Post by cachemoney » Thu Jan 26, 2017 11:28 am

I have made a few charges (over $1500) and still have not seen the fee posted.

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Re: Chase Sapphire Reserve

Post by michaeljc70 » Thu Jan 26, 2017 11:52 am

afan wrote:The cost of Priority Pass Select is included in your $450 annual fee. I don't have the details, but travelling companions and family members are included. Check the fine print.

For me, I doubt I will ever use it. I almost always take direct flights, no layovers waiting for a connecting flight. I would never get to the airport early so I can hang out in the lounge, and I have too much anxiety about missing something to wait anywhere other than the boarding area. One exception was an international flight for which I arrived comically early. I used the lounge. It was nice, but I would not pay anything to have it available.


I travel only personally, and I've used the lounges 4 times already. Since most airports don't have free wifi, that is the thing I like most about the lounges. In terms of food and drinks and comfort, they varied quite a bit. In Rio the lounge was brand new, beautiful like a new 5 star hotel and they had a full bar and a chef making food. In Houston the furniture was run down.

I live in Chicago so can travel direct most places in the US, but internationally (or when using miles) there are often layovers.

It is true I wouldn't pay to use these lounges unless I had a really long layover.

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Re: Chase Sapphire Reserve

Post by rjbraun » Thu Jan 26, 2017 11:54 am

mcraepat9 wrote:
cachemoney wrote:I got lucky and signed up yesterday just before they dropped the bonus to 50k.

I was on the fence earlier in the week, I wanted to take advantage, but the $4,000 in 3 months was worrying me. Then I realized I had some upcoming business trips coming up in the next 3-8 weeks. Hotel stays and flying to Mexico and food should easily be 4k.

Hopefully I find value in keeping the CSR after this year. Most likely I will get cancel my current travel card my Chase Marriott card, which was a great signup bonus a few years ago. It has an $85 annual fee but you get free hotel per year that cancelled it out.


Unless someone is genuinely cash strapped and lives paycheck to paycheck, a minimum spend should not be a dealbreaker for anyone. You can always go to a drugstore and buy $4000 in Visa gift cards if you had to.

Is there a fee to purchase Visa gift cards? In the past, I thought I had to pay some fee for Amex gift cards.

I've only really bought gift cards on Amazon to benefit from my 5% Sallie Mae rebate, which will soon go away. RIP

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Re: Chase Sapphire Reserve

Post by rjbraun » Thu Jan 26, 2017 12:00 pm

michaeljc70 wrote:
afan wrote:The cost of Priority Pass Select is included in your $450 annual fee. I don't have the details, but travelling companions and family members are included. Check the fine print.

For me, I doubt I will ever use it. I almost always take direct flights, no layovers waiting for a connecting flight. I would never get to the airport early so I can hang out in the lounge, and I have too much anxiety about missing something to wait anywhere other than the boarding area. One exception was an international flight for which I arrived comically early. I used the lounge. It was nice, but I would not pay anything to have it available.


I travel only personally, and I've used the lounges 4 times already. Since most airports don't have free wifi, that is the thing I like most about the lounges. In terms of food and drinks and comfort, they varied quite a bit. In Rio the lounge was brand new, beautiful like a new 5 star hotel and they had a full bar and a chef making food. In Houston the furniture was run down.

I live in Chicago so can travel direct most places in the US, but internationally (or when using miles) there are often layovers.

It is true I wouldn't pay to use these lounges unless I had a really long layover.

We used the lounges recently, coming and going, on international flights. I wouldn't pay to use them, either, but did enjoy the access / perk from CSR. SO did as well, which kind of surprised me.

While I wouldn't arrive "comically early" just for lounge access, I did find the prospect made the whole airport trek more palatable. I was less inclined to dawdle (who wants to hang out at the airport, etc.) and especially on the outbound leg figured why not just get to the airport and sit in the lounge rather than sit at home and risk missing the flight? It's a nice little incentive to be sure to get to the airport on time. YMMV

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