Anyone upgrading to sapphire banking at chase?

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Topic Author
am
Posts: 2978
Joined: Sun Sep 30, 2007 9:55 am

Anyone upgrading to sapphire banking at chase?

Post by am » Sun Nov 04, 2018 1:29 pm

I just heard about a 60000 point ultimate rewards offer for an upgrade to sapphire banking at chase. There are some nice perks as well like free wires, refunded atm fees worldwide, free safety deposit box, free checks. I was thinking of transferring 75k of total market vanguard etf to you invest at chase and just keeping it there forever to avoid the minimum balance fees. Anyone know if there is anything I’m missing or any downsides?

Invest4lt
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Re: Anyone upgrading to sapphire banking at chase?

Post by Invest4lt » Sun Nov 04, 2018 1:36 pm

I recently received an email promo offering $750 to open a sapphire account with 75k of new money. I’m researching If it’s worth it, also.

arf30
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Joined: Sat Dec 28, 2013 11:55 am

Re: Anyone upgrading to sapphire banking at chase?

Post by arf30 » Sun Nov 04, 2018 1:44 pm

I'm interested, but want the $750, not the points, so I'm waiting for that offer to become public.

Topic Author
am
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Re: Anyone upgrading to sapphire banking at chase?

Post by am » Sun Nov 04, 2018 1:46 pm

arf30 wrote:
Sun Nov 04, 2018 1:44 pm
I'm interested, but want the $750, not the points, so I'm waiting to see offer becomes public.
I find the points valuable and 60000 is worth 900 bucks in travel since I have a sapphire reserve card and use the portal which I heard uses Expedia now. One downside is that the points are taxed for this bonus. I’m guessing it will be like 600 bucks of income, hopefully not more.

Trism
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Re: Anyone upgrading to sapphire banking at chase?

Post by Trism » Sun Nov 04, 2018 3:00 pm

am wrote:
Sun Nov 04, 2018 1:46 pm
arf30 wrote:
Sun Nov 04, 2018 1:44 pm
I'm interested, but want the $750, not the points, so I'm waiting to see offer becomes public.
I find the points valuable and 60000 is worth 900 bucks in travel since I have a sapphire reserve card and use the portal which I heard uses Expedia now. One downside is that the points are taxed for this bonus. I’m guessing it will be like 600 bucks of income, hopefully not more.
I have read that the 1099 for the UR points values the points at $600, because many common redemptions are $0.01/point.

If you have the Sapphire Reserve credit card you can redeem points toward travel for $0.015/point.

You can also transfer them to airline/hotel partners for significantly higher value if you know what you're doing.

Even at $0.015, I would rather get a $600 1099 for $900 in travel than a $750 1099 for $750 in cash.

tj
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Re: Anyone upgrading to sapphire banking at chase?

Post by tj » Sun Nov 04, 2018 3:09 pm

I'd rather get the cash. I only redeem points for cash, so....

Trism
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Re: Anyone upgrading to sapphire banking at chase?

Post by Trism » Sun Nov 04, 2018 3:15 pm

tj wrote:
Sun Nov 04, 2018 3:09 pm
I'd rather get the cash. I only redeem points for cash, so....
Makes sense if you don't spend cash for personal travel.

Topic Author
am
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Re: Anyone upgrading to sapphire banking at chase?

Post by am » Tue Nov 06, 2018 3:01 pm

Please delete

4th and Inches
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Re: Anyone upgrading to sapphire banking at chase?

Post by 4th and Inches » Wed Dec 12, 2018 10:24 am

I'm interested in upgrading for the 60,000 Chase Ultimate Rewards Points, but don't want to do it to switch my funds from Admiral to Investor shares due to the higher expense ratios. I'd prefer to just move the funds and leave them in ETFs. I have $75,000+ that I can transfer over. Where in the world can I find the ETF list of available Vanguard funds? Below is the list of mutual funds they have available. I can't find the equivalent document for ETFs. I'd also like to hear anyone else's experiences with this.

https://am.jpmorgan.com/blob-pbstudio/1 ... d_list.pdf

Edit: are Roth IRAs and Traditional IRAs excluded from the $75,000? If that is the case then it is a no-go for me.
Last edited by 4th and Inches on Wed Dec 12, 2018 10:30 am, edited 1 time in total.

tj
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Re: Anyone upgrading to sapphire banking at chase?

Post by tj » Wed Dec 12, 2018 10:27 am

There are no investor shares anymore for most of those funds.

4th and Inches
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Re: Anyone upgrading to sapphire banking at chase?

Post by 4th and Inches » Wed Dec 12, 2018 10:30 am

tj wrote:
Wed Dec 12, 2018 10:27 am
There are no investor shares anymore for most of those funds.
Oh. I was not aware of that. That link I posted is dated from August.

arf30
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Re: Anyone upgrading to sapphire banking at chase?

Post by arf30 » Wed Dec 12, 2018 10:32 am

4th and Inches wrote:
Wed Dec 12, 2018 10:24 am
don't want to do it to switch my funds from Admiral to Investor shares due to the higher expense ratios.
Vanguard is rolling out Admiral funds to everyone, Chase should have them soon (Schwab and ETrade already have them). Investor share funds are closed for those funds
4th and Inches wrote:
Wed Dec 12, 2018 10:24 am
Where in the world can I find the ETF list of available Vanguard funds?
There is no such thing, Vanguard ETFs are traded openly on the stock market and any brokerage has access to them

4th and Inches
Posts: 189
Joined: Mon Nov 12, 2012 8:53 pm

Re: Anyone upgrading to sapphire banking at chase?

Post by 4th and Inches » Wed Dec 12, 2018 10:37 am

arf30 wrote:
Wed Dec 12, 2018 10:32 am
4th and Inches wrote:
Wed Dec 12, 2018 10:24 am
don't want to do it to switch my funds from Admiral to Investor shares due to the higher expense ratios.
Vanguard is rolling out Admiral funds to everyone, Chase should have them soon (Schwab and ETrade already have them). Investor share funds are closed for those funds
4th and Inches wrote:
Wed Dec 12, 2018 10:24 am
Where in the world can I find the ETF list of available Vanguard funds?
There is no such thing, Vanguard ETFs are traded openly on the stock market and any brokerage has access to them
Great information. Thanks!

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