JPM Chase Reserve Card gets more expensive

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ScubaHogg
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Re: JPM Chase Reserve Card gets more expensive

Post by ScubaHogg »

It’s a touch off topic but I thought someone might enjoy this write up on how United mortgaged its frequent flyer program (what seems like a liability at first glance) to secure a loan

How United Airlines Mortgaged Its Frequent-Flier Program:

https://www.nationalreview.com/2020/06/ ... ankruptcy/
“Unexpected Returns dominate the Expected Returns” - Ken French
UpperNwGuy
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Re: JPM Chase Reserve Card gets more expensive

Post by UpperNwGuy »

cowdogman wrote: Sun Jun 21, 2020 10:59 am
UpperNwGuy wrote: Sun Jun 21, 2020 5:46 am
Pay Yourself Back began May 31 and ends December 31.
Not unless it has been extended and I haven't seen it--it ends September 30, 2020. I know because I am trying to get rid of all my URs by then.
I think you're correct. I must have gotten the Pay Yourself Back date and the $450 annual fee date confused in my brain.

At the rate I'm using Pay Yourself Back, I will have used up all my URs by the end of June, so my plan for July-September will be to use my Freedom card to earn 5x URs at Whole Foods, transfer the URs over to my Sapphire Reserve, then use them to pay myself back for groceries purchased at stores other than Whole Foods.
02nz
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Re: JPM Chase Reserve Card gets more expensive

Post by 02nz »

ScubaHogg wrote: Sun Jun 21, 2020 11:33 am It’s a touch off topic but I thought someone might enjoy this write up on how United mortgaged its frequent flyer program (what seems like a liability at first glance) to secure a loan

How United Airlines Mortgaged Its Frequent-Flier Program:

https://www.nationalreview.com/2020/06/ ... ankruptcy/
As we've seen before, the airlines are really "miles"/points programs with ancillary flight operations. :happy
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cowdogman
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Re: JPM Chase Reserve Card gets more expensive

Post by cowdogman »

EnjoyIt wrote: Sun Jun 21, 2020 11:03 am
cowdogman wrote: Sun Jun 21, 2020 10:59 am
UpperNwGuy wrote: Sun Jun 21, 2020 5:46 am
Pay Yourself Back began May 31 and ends December 31.
Not unless it has been extended and I haven't seen it--it ends September 30, 2020. I know because I am trying to get rid of all my URs by then.
Are you planning on buying gift cards for 506.95 as a last resort?
If I were to do that I would just buy Amazon cards (with no fee) at a grocery store. They would get used sooner or later.

I have about 350K points left (used 100K for groceries last month). If I can't use the remaining points on groceries, our grocery store has a great (and reasonably priced) wine department and I'll just stock up on good wine. I hope to zero out by September 30.
lakpr
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Re: JPM Chase Reserve Card gets more expensive

Post by lakpr »

cowdogman wrote: Sun Jun 21, 2020 3:27 pm If I were to do that I would just buy Amazon cards (with no fee) at a grocery store. They would get used sooner or later.
Looks like the entire country got the same idea, I am not able to find Amazon gift cards at any grocery stores or home improvement stores. Did some treasure hunting over the weekend, visited some 10 stores before finally giving up.
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ohboy!
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Re: JPM Chase Reserve Card gets more expensive

Post by ohboy! »

Had a good amount of points for years and was traveling a lot but my points are flying off the shelf paying for food at 1.5x. It's good because now I'm motivated to get more points.
02nz
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Re: JPM Chase Reserve Card gets more expensive

Post by 02nz »

lakpr wrote: Mon Jun 22, 2020 10:31 am
cowdogman wrote: Sun Jun 21, 2020 3:27 pm If I were to do that I would just buy Amazon cards (with no fee) at a grocery store. They would get used sooner or later.
Looks like the entire country got the same idea, I am not able to find Amazon gift cards at any grocery stores or home improvement stores. Did some treasure hunting over the weekend, visited some 10 stores before finally giving up.
Saw plenty of them today at my nearest Lowe's (SoCal) and at Whole Foods, which seems to always have Amazon gift cards, for obvious reasons.
MisterBill
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Re: JPM Chase Reserve Card gets more expensive

Post by MisterBill »

lakpr wrote: Mon Jun 22, 2020 10:31 am Looks like the entire country got the same idea, I am not able to find Amazon gift cards at any grocery stores or home improvement stores. Did some treasure hunting over the weekend, visited some 10 stores before finally giving up.
i thought my local supermarkets have Amazon cards, but if you can't find any it might be because they view Amazon as a competitor. Did you try multiple chains?
TravelGeek
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Re: JPM Chase Reserve Card gets more expensive

Post by TravelGeek »

lakpr wrote: Mon Jun 22, 2020 10:31 am Looks like the entire country got the same idea, I am not able to find Amazon gift cards at any grocery stores or home improvement stores. Did some treasure hunting over the weekend, visited some 10 stores before finally giving up.
I bought one just this morning at my local Safeway. They had plenty.

I think you can also buy Kindle branded cards; they are basically the same thing and not limited to Kindle purchases last I checked.
lakpr
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Re: JPM Chase Reserve Card gets more expensive

Post by lakpr »

I am located in Central NJ; and I went to Wegmans, ShopRite (3 of them), Stop&Shop (two of them), two Home Depots and one Lowes.
9 in total, not quite 10, but struck out at all of them.

Whole Foods is a bit off my home and will have to make a trip there specifically, so I didn't bother. I also am under the impression that the 5x UR points on Chase Reserve are not applicable for Whole Foods purchases? I think I can still buy groceries at Whole Foods (+ gift cards) and use up my existing UR points against the purchase, but unlike an equivalent purchase at ShopRite I will not earn 5x UR.

Correct me if I am wrong please.
02nz
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Re: JPM Chase Reserve Card gets more expensive

Post by 02nz »

TravelGeek wrote: Tue Jun 23, 2020 12:53 am
lakpr wrote: Mon Jun 22, 2020 10:31 am Looks like the entire country got the same idea, I am not able to find Amazon gift cards at any grocery stores or home improvement stores. Did some treasure hunting over the weekend, visited some 10 stores before finally giving up.
I bought one just this morning at my local Safeway. They had plenty.

I think you can also buy Kindle branded cards; they are basically the same thing and not limited to Kindle purchases last I checked.
The Kindle gift cards (I don't see them as much these days) can indeed be redeemed just the same as regular Amazon GCs, but watch out for Kindle Unlimited gift cards, which I don't believe can be redeemed the same way toward other merchandise (that would be too good a deal, as the Unlimited cards are often steeply discounted).
Last edited by 02nz on Tue Jun 23, 2020 12:09 pm, edited 1 time in total.
02nz
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Re: JPM Chase Reserve Card gets more expensive

Post by 02nz »

lakpr wrote: Tue Jun 23, 2020 11:59 am I also am under the impression that the 5x UR points on Chase Reserve are not applicable for Whole Foods purchases? I think I can still buy groceries at Whole Foods (+ gift cards) and use up my existing UR points against the purchase, but unlike an equivalent purchase at ShopRite I will not earn 5x UR.

Correct me if I am wrong please.
Haven't seen that. Whole Foods codes as a grocery store/supermarket just like ShopRite, Safeway, etc. I don't have the CSR currently, but for Chase Freedom's 5X grocery bonus in Q2 it certainly coded as expected.
rjbraun
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Re: JPM Chase Reserve Card gets more expensive

Post by rjbraun »

02nz wrote: Tue Jun 23, 2020 12:08 pm
lakpr wrote: Tue Jun 23, 2020 11:59 am I also am under the impression that the 5x UR points on Chase Reserve are not applicable for Whole Foods purchases? I think I can still buy groceries at Whole Foods (+ gift cards) and use up my existing UR points against the purchase, but unlike an equivalent purchase at ShopRite I will not earn 5x UR.

Correct me if I am wrong please.
Haven't seen that. Whole Foods codes as a grocery store/supermarket just like ShopRite, Safeway, etc. I don't have the CSR currently, but for Chase Freedom's 5X grocery bonus in Q2 it certainly coded as expected.
Just visited Whole Foods yesterday and purchased Amazon gift card with my CSR. The charge is still shown as pending in my Chase online account, but my recollection is that yesterday the classification was "Groceries" (even though the charge was still pending). No idea why I can't find the Groceries classification now, but I will be surprised (and disappointed) if Groceries will not be listed once the charge is no longer pending.

Of note for people who may use Amazon Prime for Whole Foods deliveries: in my experience, CSR will not classify those as Groceries. That makes sense, though it initially took me by surprise.

Update: I can confirm that the Amazon gift cards I purchased at a Whole Foods location two days ago got coded as Groceries by Chase. And, today I was able to use the CSR feature "pay yourself back" to use UR points to cover the Amazon gift card purchases. Very satisfying.

The only miscalculation on my part was that, in all the excitement, I somehow figured that I could also use my UR points to cover the cost of Amazon gift cards bought at Whole Foods with my Chase Freedom card. :oops: I realized my error once I used the "pay yourself back" feature in my CSR account, which was actually before I had used my Chase Freedom card to buy Amazon gift cards.

But I went ahead, anyway; I figured it's still not a bad deal, given how much we buy on Amazon as it should still result in a 5% discount on Amazon purchases (assuming we cash out our UR points, worst case, at 1%). Was just hoping to be able make a bigger dent in our UR balance.
mervinj7
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Re: JPM Chase Reserve Card gets more expensive

Post by mervinj7 »

Looks like the CSR is adding some temporary categories:
https://www.doctorofcredit.com/chase-ad ... instacart/

I'll be using the 50% off Instacart offer and 10% cash back on streaming services (e.g. Netflix, Hulu).

Might as well as also take advantage of the 6 months free of Spotify Premium.
Last edited by mervinj7 on Tue Jun 30, 2020 12:45 pm, edited 1 time in total.
rich126
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Re: JPM Chase Reserve Card gets more expensive

Post by rich126 »

ScubaHogg wrote: Sun Jun 21, 2020 11:33 am It’s a touch off topic but I thought someone might enjoy this write up on how United mortgaged its frequent flyer program (what seems like a liability at first glance) to secure a loan

How United Airlines Mortgaged Its Frequent-Flier Program:

https://www.nationalreview.com/2020/06/ ... ankruptcy/
Brett Snyder also wrote something on this topic.
https://crankyflier.com/2020/06/23/how- ... of-united/
The 47-page MileagePlus document has a lot of charts and dizzying details, but underneath, there is a very clear understanding of just how these programs make their money — as expected, it’s by selling miles to third parties. In 2019 alone, MileagePlus pulled in $5.3 billion in total revenue and $1.8 billion in profit (EBITDA), but those numbers need to be broken down.
Whakamole
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Re: JPM Chase Reserve Card gets more expensive

Post by Whakamole »

mervinj7 wrote: Tue Jun 30, 2020 11:43 am Looks like the CSR is adding some temporary categories:
https://www.doctorofcredit.com/chase-ad ... instacart/

I'll be using the 50% off Instacart offer and 10% cash back on streaming services (e.g. Netflix, Hulu).

Might as well as also take advantage of the 6 months free of Spotify Premium.
To follow up, Doctor of Credit also reported that restaurants would earn 5x points on CSR, which is not the case (I'm still seeing 3x points): https://www.doctorofcredit.com/chase-sa ... purchases/
mervinj7
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Re: JPM Chase Reserve Card gets more expensive

Post by mervinj7 »

Whakamole wrote: Mon Jul 06, 2020 10:40 am
mervinj7 wrote: Tue Jun 30, 2020 11:43 am Looks like the CSR is adding some temporary categories:
https://www.doctorofcredit.com/chase-ad ... instacart/

I'll be using the 50% off Instacart offer and 10% cash back on streaming services (e.g. Netflix, Hulu).

Might as well as also take advantage of the 6 months free of Spotify Premium.
To follow up, Doctor of Credit also reported that restaurants would earn 5x points on CSR, which is not the case (I'm still seeing 3x points): https://www.doctorofcredit.com/chase-sa ... purchases/
Wow, very cool. I just checked my statement for this month. I also do see 5x points on restaurants. I don't know why this isn't advertised on the Chase website!
I got the $50 credit on the annual Instacart membership as soon as the charge posted. I normally shop using sameday.costco.com but since it's run by Instacart, there is a discount applied to my costco grocery orders for having a linked instacart membership. Again, I didn't see this advertised anywhere but it's already saved me quite a bit of money these last few months of getting costco delivery.
Last edited by mervinj7 on Mon Jul 06, 2020 11:11 am, edited 2 times in total.
drizzleray
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Re: JPM Chase Reserve Card gets more expensive

Post by drizzleray »

Whakamole wrote: Mon Jul 06, 2020 10:40 am
mervinj7 wrote: Tue Jun 30, 2020 11:43 am Looks like the CSR is adding some temporary categories:
https://www.doctorofcredit.com/chase-ad ... instacart/

I'll be using the 50% off Instacart offer and 10% cash back on streaming services (e.g. Netflix, Hulu).

Might as well as also take advantage of the 6 months free of Spotify Premium.
To follow up, Doctor of Credit also reported that restaurants would earn 5x points on CSR, which is not the case (I'm still seeing 3x points): https://www.doctorofcredit.com/chase-sa ... purchases/
Just as a data point, I had a restaurant purchase on 7/1. The rewards details shows both “3 points per $1 spent on dining” and “Bonus on purchases at restaurants” for a total of 5x.
Whakamole
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Re: JPM Chase Reserve Card gets more expensive

Post by Whakamole »

mervinj7 wrote: Mon Jul 06, 2020 10:55 am
Whakamole wrote: Mon Jul 06, 2020 10:40 am
mervinj7 wrote: Tue Jun 30, 2020 11:43 am Looks like the CSR is adding some temporary categories:
https://www.doctorofcredit.com/chase-ad ... instacart/

I'll be using the 50% off Instacart offer and 10% cash back on streaming services (e.g. Netflix, Hulu).

Might as well as also take advantage of the 6 months free of Spotify Premium.
To follow up, Doctor of Credit also reported that restaurants would earn 5x points on CSR, which is not the case (I'm still seeing 3x points): https://www.doctorofcredit.com/chase-sa ... purchases/
Wow, very cool. I just checked my statement for this month. I also do see 5x points on restaurants. I don't know why this isn't advertised on the Chase website!
I got the $50 credit on the annual Instacart membership as soon as the charge posted. I normally shop using sameday.costco.com but since it's run by Instacart, there is a discount applied to my costco grocery orders for having a linked instacart membership. Again, I didn't see this advertised anywhere but it's already saved me quite a bit of money these last few months of getting costco delivery.
How is Costco coded? I'm wondering if I can use the "pay yourself back" at 1.5 cents per point for Costco purchases.
mervinj7
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Re: JPM Chase Reserve Card gets more expensive

Post by mervinj7 »

Whakamole wrote: Mon Jul 06, 2020 11:08 am
mervinj7 wrote: Mon Jul 06, 2020 10:55 am Wow, very cool. I just checked my statement for this month. I also do see 5x points on restaurants. I don't know why this isn't advertised on the Chase website!
I got the $50 credit on the annual Instacart membership as soon as the charge posted. I normally shop using sameday.costco.com but since it's run by Instacart, there is a discount applied to my costco grocery orders for having a linked instacart membership. Again, I didn't see this advertised anywhere but it's already saved me quite a bit of money these last few months of getting costco delivery.
How is Costco coded? I'm wondering if I can use the "pay yourself back" at 1.5 cents per point for Costco purchases.

Let me walk through a real order from last week:
1. $139.94: Costco Order subtotal including markup from warehouse prices
2. $14.85: Discount applied for having a instacart membership (hopefully removes the markup)
3. $125.09: Charged to CSR card
4. 625 points: CSR get 1x points for other purchases (125 points) + 4x points for temporary bonus category (500 points)
5. $9.37: 625 points is redeemed for 1.5x Cash Back on groceries. Costco is coded as groceries.
6. 7.5%: Effective cash back on Costco grocery delivery

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ohboy!
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Re: JPM Chase Reserve Card gets more expensive

Post by ohboy! »

I have Sep 1 renewal for $450.

I figure I will use the $300 travel credit within 12 months.

Doordash I don't see as a big bonus nor instacart but I'll use them. I have 200k points. If I use 100k points at 1.5x am I calculating right that I get $250 extra value out of the CSR as compared to downgrading to Freedom and only getting 1.25x? Then the $250 extra value is worth the $150 extra AF ($450 - spent $300 travel)?
madbrain
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Re: JPM Chase Reserve Card gets more expensive

Post by madbrain »

mervinj7 wrote: Mon Jul 06, 2020 11:11 am Let me walk through a real order from last week:
1. $139.94: Costco Order subtotal including markup from warehouse prices
2. $14.85: Discount applied for having a instacart membership (hopefully removes the markup)
I'm not seeing any such discount on my Instacart order, despite my membership. The only thing is that the delivery is free for being a member. But markup on items most certainly is not discounted.
6. 7.5%: Effective cash back on Costco grocery delivery
The Instacart markup is much more than 7.5% in my experience. More like 20%+. Still, not a horrible deal if you don't want to go to the store due to COVID.
mervinj7
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Re: JPM Chase Reserve Card gets more expensive

Post by mervinj7 »

madbrain wrote: Fri Aug 21, 2020 2:01 pm
mervinj7 wrote: Mon Jul 06, 2020 11:11 am Let me walk through a real order from last week:
1. $139.94: Costco Order subtotal including markup from warehouse prices
2. $14.85: Discount applied for having a instacart membership (hopefully removes the markup)
I'm not seeing any such discount on my Instacart order, despite my membership. The only thing is that the delivery is free for being a member. But markup on items most certainly is not discounted.
6. 7.5%: Effective cash back on Costco grocery delivery
The Instacart markup is much more than 7.5% in my experience. More like 20%+. Still, not a horrible deal if you don't want to go to the store due to COVID.
I don't order Costco though the instacart app. I order Costco same day delivery through https://sameday.costco.com/store/costco/storefront

The back end is provided by instacart. The markup varies heavily based on the product purchased.
madbrain
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Re: JPM Chase Reserve Card gets more expensive

Post by madbrain »

mervinj7 wrote: Fri Aug 21, 2020 2:45 pm
I don't order Costco though the instacart app. I order Costco same day delivery through https://sameday.costco.com/store/costco/storefront

The back end is provided by instacart. The markup varies heavily based on the product purchased.
Thanks. I just went to that URL. The next delivery date is 4 days from now. But that is the same with Instacart.
I do see that the prices are slightly lower on the URL you gave me vs Instacart. However, they are still marked up from warehouse.

I tried to place an order from the costco.com web site, and it doesn't show any discount. I didn't get asked for an instacart membership. I used the CSR for checkout. I didn't click submit since I must be missing something.

edit: I found it. Had to go in the profile and connect the Instacart membership. Now I see the discount. This may bring it down to close to store prices.

Thank you very much !
Last edited by madbrain on Fri Aug 21, 2020 3:08 pm, edited 1 time in total.
mervinj7
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Re: JPM Chase Reserve Card gets more expensive

Post by mervinj7 »

madbrain wrote: Fri Aug 21, 2020 3:04 pm
mervinj7 wrote: Fri Aug 21, 2020 2:45 pm
I don't order Costco though the instacart app. I order Costco same day delivery through https://sameday.costco.com/store/costco/storefront

The back end is provided by instacart. The markup varies heavily based on the product purchased.
Thanks. I just went to that URL. The next delivery date is 4 days from now. But that is the same with Instacart.
I do see that the prices are slightly lower on the URL you gave me vs Instacart. However, they are still marked up from warehouse.

I tried to place an order from the costco.com web site, and it doesn't show any discount. I didn't get asked for an instacart membership. I used the CSR for checkout. I didn't click submit since I must be missing something.
Yes, the prices are still marked up but you get a partial discount at checkout (which I'm assuming you didn't go all the way to). It doesn't completely negate the markup though.
madbrain
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Re: JPM Chase Reserve Card gets more expensive

Post by madbrain »

mervinj7 wrote: Fri Aug 21, 2020 3:06 pm Yes, the prices are still marked up but you get a partial discount at checkout (which I'm assuming you didn't go all the way to). It doesn't completely negate the markup though.
I was at the last step before clicking "Place order". I had to back out and go to the user profile on sameday.costco.com to add the Instacart membership. I would have never known it was possible to get a discount if I had not read your post.
Last edited by madbrain on Fri Aug 21, 2020 4:23 pm, edited 1 time in total.
mervinj7
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Re: JPM Chase Reserve Card gets more expensive

Post by mervinj7 »

madbrain wrote: Fri Aug 21, 2020 3:10 pm
mervinj7 wrote: Fri Aug 21, 2020 3:06 pm Yes, the prices are still marked up but you get a partial discount at checkout (which I'm assuming you didn't go all the way to). It doesn't completely negate the markup though.
I as at the last step before clicking "Place order". I had to back out and go to the user profile on sameday.costco.com to add the Instacart membership.
I would have never known it was possible to get a discount if I had not read your post.
I have no clue why it's not advertised nor on any of the usual blogs!
mervinj7
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Re: JPM Chase Reserve Card gets more expensive

Post by mervinj7 »

My instacart delivery guy left the receipt in the bottom of my Costco delivery box, so I can now directly compare the in-store pricing with Costco's sameday.costco.com prices for one particular order. Note, I do not order through the instacart app but Costco's same delivery is provided by them. I do, however, have a linked Instacart membership ($50/year with the current CSR promotion).

Costco warehouse in-store paper bill: $70.55
Same Day Costco Delivery: $84.45 (Raw pricing with online markup assuming no Instacart membership). Wowsa.

With Credit/Discount Applied: $84.45-$9.32 = $75.13 (at checkout with linked instacart membership). Does not include tip.

Now, to make matters trickier, the CSR card has an effective 7.5% cash back on Instacart coded purchases (5x *1.5x).
$75.13 * 0.075 = $5.63--> $69.49

Personally, if I went in person, I would have used a Costco Citi card to get 2% back but obviously folks can use other cards with higher cashback at Costco.
$70.55*0.02=$1.41 --> $69.14

So for me, the two prices (in-person at Costco vs same day Costco) are effectively the same NOT including Tip (default is 5%).
Tingting1013
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Re: JPM Chase Reserve Card gets more expensive

Post by Tingting1013 »

mervinj7 wrote: Mon Aug 31, 2020 12:41 pm My instacart delivery guy left the receipt in the bottom of my Costco delivery box, so I can now directly compare the in-store pricing with Costco's sameday.costco.com prices for one particular order. Note, I do not order through the instacart app but Costco's same delivery is provided by them. I do, however, have a linked Instacart membership ($50/year with the current CSR promotion).

Costco warehouse in-store paper bill: $70.55
Same Day Costco Delivery: $84.45 (Raw pricing with online markup assuming no Instacart membership). Wowsa.

With Credit/Discount Applied: $84.45-$9.32 = $75.13 (at checkout with linked instacart membership). Does not include tip.

Now, to make matters trickier, the CSR card has an effective 7.5% cash back on Instacart coded purchases (5x *1.5x).
$75.13 * 0.075 = $5.63--> $69.49

Personally, if I went in person, I would have used a Costco Citi card to get 2% back but obviously folks can use other cards with higher cashback at Costco.
$70.55*0.02=$1.41 --> $69.14

So for me, the two prices (in-person at Costco vs same day Costco) are effectively the same NOT including Tip (default is 5%).
Cost of gas and time to go to Costco?
mervinj7
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Re: JPM Chase Reserve Card gets more expensive

Post by mervinj7 »

Tingting1013 wrote: Mon Aug 31, 2020 1:33 pm
mervinj7 wrote: Mon Aug 31, 2020 12:41 pm My instacart delivery guy left the receipt in the bottom of my Costco delivery box, so I can now directly compare the in-store pricing with Costco's sameday.costco.com prices for one particular order. Note, I do not order through the instacart app but Costco's same delivery is provided by them. I do, however, have a linked Instacart membership ($50/year with the current CSR promotion).

Costco warehouse in-store paper bill: $70.55
Same Day Costco Delivery: $84.45 (Raw pricing with online markup assuming no Instacart membership). Wowsa.

With Credit/Discount Applied: $84.45-$9.32 = $75.13 (at checkout with linked instacart membership). Does not include tip.

Now, to make matters trickier, the CSR card has an effective 7.5% cash back on Instacart coded purchases (5x *1.5x).
$75.13 * 0.075 = $5.63--> $69.49

Personally, if I went in person, I would have used a Costco Citi card to get 2% back but obviously folks can use other cards with higher cashback at Costco.
$70.55*0.02=$1.41 --> $69.14

So for me, the two prices (in-person at Costco vs same day Costco) are effectively the same NOT including Tip (default is 5%).
Cost of gas and time to go to Costco?
Yes, those have added cost! For now, I'm sticking with delivery for as much as I can and only going in person for items not sold online.
EnjoyIt
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Re: JPM Chase Reserve Card gets more expensive

Post by EnjoyIt »

HEDGEFUNDIE wrote: Sun Apr 05, 2020 3:47 pm
EnjoyIt wrote: Sun Apr 05, 2020 3:41 pm
AZAttorney11 wrote: Sun Apr 05, 2020 3:24 pm
HEDGEFUNDIE wrote: Sat Apr 04, 2020 1:09 pm
EnjoyIt wrote: Sat Apr 04, 2020 1:05 pm

Meh,
We are already looking to travel and thinking up where to go next year. I have friends who are huge cruise ship fans and they can't wait to get back on a ship. Your feelings are not the feelings of everyone.
For your friends’ sake I hope there will still be cruise ships when this is all over. I wouldn’t bet on that either.
HEDGEFUNDIE, I'm willing to make that bet. Shall we come up with a proper bet and terms? :sharebeer
The bet is simple. I offered it to Hendgefundie and he has not responded.

He sells me 1 share of Royal Caribbean stock today. He then buys it back from me in 2 years time no matter the price.

I wonder if there is a way to get a contract out like this.
I will absolutely take that bet.

RCL closed at $24 on Friday. Let’s check back in two years.

The loser donates the winner’s profits to a charity chosen by the winner.
Hedgefundie,
As of today RCL is ~$70. I realize it is not two years yet, but if you want, I am willing to allow you to concede that you lost the bet. If so I would like the donation to go to Breast Cancer Research Foundation https://www.bcrf.org/about.

Or, if you prefer, I do not mind waiting the full two years.
A time to EVALUATE your jitters: | https://www.bogleheads.org/forum/viewtopic.php?f=10&t=79939&start=400#p5275418
Cruise
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Re: JPM Chase Reserve Card gets more expensive

Post by Cruise »

Canceled my CSR yesterday, and product changed to no-fee Freedom with 5% category bonus. I had been using this particular card as my consulting business card, but since I am mostly retired and not doing any business travel, its reason for existence has passed.
Whakamole
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Re: JPM Chase Reserve Card gets more expensive

Post by Whakamole »

Does anyone know if downgrading the card (to Freedom) counts against their 5/24 rule?
UpperNwGuy
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Re: JPM Chase Reserve Card gets more expensive

Post by UpperNwGuy »

Cruise wrote: Wed Sep 09, 2020 4:05 pm Canceled my CSR yesterday, and product changed to no-fee Freedom with 5% category bonus. I had been using this particular card as my consulting business card, but since I am mostly retired and not doing any business travel, its reason for existence has passed.
I plan to cancel mine today. I've waited ten days since the fee was billed to see if Chase would announce a revamp of this card, or even a new set of COVID-19 benefits (such as 5x groceries and Pay Yourself Back in the fourth quarter), but Chase has done neither. The card is useless to me as a travel and dining card, as I don't plan to do either of those things for the next year. I'll change it to the Freedom Unlimited.
UpperNwGuy
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Re: JPM Chase Reserve Card gets more expensive

Post by UpperNwGuy »

Whakamole wrote: Thu Sep 10, 2020 8:16 am Does anyone know if downgrading the card (to Freedom) counts against their 5/24 rule?
A downgrade does not count against 5/24.
cowbman
Posts: 207
Joined: Sat Jan 14, 2017 2:10 pm

Re: JPM Chase Reserve Card gets more expensive

Post by cowbman »

Whakamole wrote: Thu Sep 10, 2020 8:16 am Does anyone know if downgrading the card (to Freedom) counts against their 5/24 rule?
It does not. 5/24 is for new applications
Whakamole
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Re: JPM Chase Reserve Card gets more expensive

Post by Whakamole »

cowbman wrote: Thu Sep 10, 2020 8:35 am
Whakamole wrote: Thu Sep 10, 2020 8:16 am Does anyone know if downgrading the card (to Freedom) counts against their 5/24 rule?
It does not. 5/24 is for new applications
Excellent, thanks.

I wonder if Chase is regretting the 1.5% cash back towards groceries/dining, since it's enabled many of us to effectively cash out our rewards points and close the card.
UpperNwGuy
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Re: JPM Chase Reserve Card gets more expensive

Post by UpperNwGuy »

UpperNwGuy wrote: Thu Sep 10, 2020 8:30 am
Cruise wrote: Wed Sep 09, 2020 4:05 pm Canceled my CSR yesterday, and product changed to no-fee Freedom with 5% category bonus. I had been using this particular card as my consulting business card, but since I am mostly retired and not doing any business travel, its reason for existence has passed.
I plan to cancel mine today. I've waited ten days since the fee was billed to see if Chase would announce a revamp of this card, or even a new set of COVID-19 benefits (such as 5x groceries and Pay Yourself Back in the fourth quarter), but Chase has done neither. The card is useless to me as a travel and dining card, as I don't plan to do either of those things for the next year. I'll change it to the Freedom Unlimited.
I just downgraded my CSR to Freedom Unlimited. Saved $450. I also downgraded my United Explorer card to the United MileagePlus card. Saved $95.
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cowdogman
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Location: Washington State

Re: JPM Chase Reserve Card gets more expensive

Post by cowdogman »

Whakamole wrote: Thu Sep 10, 2020 9:09 am
cowbman wrote: Thu Sep 10, 2020 8:35 am
Whakamole wrote: Thu Sep 10, 2020 8:16 am Does anyone know if downgrading the card (to Freedom) counts against their 5/24 rule?
It does not. 5/24 is for new applications
Excellent, thanks.

I wonder if Chase is regretting the 1.5% cash back towards groceries/dining, since it's enabled many of us to effectively cash out our rewards points and close the card.
Maybe, but Chase is also allowing the $300 travel credit to be applied to groceries, plus it has reduced the annual fee to $450 for at least this year.

I hope to be to zero UR points by the end of this month. Since May 1 I have paid zero $ for $6,877.27 of groceries--using my UR points x 1.5 to pay for all of them.

But I plan to keep my CSR for at least one more year. Between the $300 grocery credit and the renewal of my Global Entry this fall, the net annual fee will be $50.
oko
Posts: 68
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Re: JPM Chase Reserve Card gets more expensive

Post by oko »

cowbman wrote: Thu Sep 10, 2020 8:35 am
Whakamole wrote: Thu Sep 10, 2020 8:16 am Does anyone know if downgrading the card (to Freedom) counts against their 5/24 rule?
It does not. 5/24 is for new applications
"New cards" is better wording. If you apply to 10 cards, and only 4 of them are approved, you are still under 5/24 rule.

One catch is getting a card as authorized user. If you get an additional card on your wife's account, it is still counted as new card. There is a way to reverse this though.
cowbman
Posts: 207
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Re: JPM Chase Reserve Card gets more expensive

Post by cowbman »

Whakamole wrote: Thu Sep 10, 2020 9:09 am
cowbman wrote: Thu Sep 10, 2020 8:35 am
Whakamole wrote: Thu Sep 10, 2020 8:16 am Does anyone know if downgrading the card (to Freedom) counts against their 5/24 rule?
It does not. 5/24 is for new applications
Excellent, thanks.

I wonder if Chase is regretting the 1.5% cash back towards groceries/dining, since it's enabled many of us to effectively cash out our rewards points and close the card.
Not at all, they want to get the points off their books.
Da5id
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Re: JPM Chase Reserve Card gets more expensive

Post by Da5id »

cowbman wrote: Fri Sep 11, 2020 7:53 pm
Whakamole wrote: Thu Sep 10, 2020 9:09 am I wonder if Chase is regretting the 1.5% cash back towards groceries/dining, since it's enabled many of us to effectively cash out our rewards points and close the card.
Not at all, they want to get the points off their books.
Is there a source for this? is 1.5x cash for UR points (which I've averaged over 3% on for original purchases, so it is cash back of over 4.5%) really a better deal for Chase than airline/hotel points that they buy in bulk from carriers/Hotel chains? Maybe so, and maybe getting the points "off their books" is good for them. But it isn't obvious to me. I had assumed this was an attempted to prevent serious attrition in CSR membership, with people not travelling much this year and travel next year being murky.

In any case, I've cashed out over 100K points in the program, so seems like a good deal to me...
vm81
Posts: 63
Joined: Fri Jan 03, 2020 2:24 pm

Re: JPM Chase Reserve Card gets more expensive

Post by vm81 »

mervinj7 wrote: Mon Aug 31, 2020 12:41 pm My instacart delivery guy left the receipt in the bottom of my Costco delivery box, so I can now directly compare the in-store pricing with Costco's sameday.costco.com prices for one particular order. Note, I do not order through the instacart app but Costco's same delivery is provided by them. I do, however, have a linked Instacart membership ($50/year with the current CSR promotion).

Costco warehouse in-store paper bill: $70.55
Same Day Costco Delivery: $84.45 (Raw pricing with online markup assuming no Instacart membership). Wowsa.

With Credit/Discount Applied: $84.45-$9.32 = $75.13 (at checkout with linked instacart membership). Does not include tip.

Now, to make matters trickier, the CSR card has an effective 7.5% cash back on Instacart coded purchases (5x *1.5x).
$75.13 * 0.075 = $5.63--> $69.49

Personally, if I went in person, I would have used a Costco Citi card to get 2% back but obviously folks can use other cards with higher cashback at Costco.
$70.55*0.02=$1.41 --> $69.14

So for me, the two prices (in-person at Costco vs same day Costco) are effectively the same NOT including Tip (default is 5%).
So I didn't know this discount is possible... been using Costco for delivery for a while now. But it doesn't show any discount for me. I linked my instcart membership to Costco and then went through ordering... all the way to the last step where i have to place order but no discount.
FedGuy
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Re: JPM Chase Reserve Card gets more expensive

Post by FedGuy »

UpperNwGuy wrote: Thu Sep 10, 2020 8:30 amI've waited ten days since the fee was billed to see if Chase would announce a revamp of this card, or even a new set of COVID-19 benefits (such as 5x groceries and Pay Yourself Back in the fourth quarter), but Chase has done neither.
How much lead time has Chase given in previous quarters? I only became aware of the current Pay Yourself Back recently, but I've been largely holding off on using it because my Discover card is paying 5% cash back at restaurants this quarter and 5% > 4.5%. (I also have the Amex Preferred, which pays 6% cash back at supermarkets.) How confident are we that Pay Yourself Back won't be extended past September?
UpperNwGuy
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Re: JPM Chase Reserve Card gets more expensive

Post by UpperNwGuy »

FedGuy wrote: Sun Sep 13, 2020 2:46 pm
UpperNwGuy wrote: Thu Sep 10, 2020 8:30 amI've waited ten days since the fee was billed to see if Chase would announce a revamp of this card, or even a new set of COVID-19 benefits (such as 5x groceries and Pay Yourself Back in the fourth quarter), but Chase has done neither.
How much lead time has Chase given in previous quarters?

How confident are we that Pay Yourself Back won't be extended past September?
Not enough lead time. They usually announce the categories one or two business days before the quarter begins. I can't wait that long because my annual fee was billed September 1, so I abandoned ship and downgraded to the Freedom Unlimited card. This, of course, frees me up to reapply for a new Sapphire card in 2021 with a new signup bonus.

As for Pay Yourself Back, we're not confident one way or the other. Again, not enough lead time for someone who's annual fee was billed on September 1.
FedGuy
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Re: JPM Chase Reserve Card gets more expensive

Post by FedGuy »

UpperNwGuy wrote: Sun Sep 13, 2020 8:24 pmAs for Pay Yourself Back, we're not confident one way or the other. Again, not enough lead time for someone who's annual fee was billed on September 1.
Thanks, UpperNwGuy. That's disappointing.

My annual fee is billed in January, so I guess I have to balance the lower cash back from using my CSR instead of Discover with the possibility of not having anything to spend my points on starting October 1.
Da5id
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Re: JPM Chase Reserve Card gets more expensive

Post by Da5id »

UpperNwGuy wrote: Sun Sep 13, 2020 8:24 pm
FedGuy wrote: Sun Sep 13, 2020 2:46 pm
UpperNwGuy wrote: Thu Sep 10, 2020 8:30 amI've waited ten days since the fee was billed to see if Chase would announce a revamp of this card, or even a new set of COVID-19 benefits (such as 5x groceries and Pay Yourself Back in the fourth quarter), but Chase has done neither.
How much lead time has Chase given in previous quarters?

How confident are we that Pay Yourself Back won't be extended past September?
Not enough lead time. They usually announce the categories one or two business days before the quarter begins. I can't wait that long because my annual fee was billed September 1, so I abandoned ship and downgraded to the Freedom Unlimited card. This, of course, frees me up to reapply for a new Sapphire card in 2021 with a new signup bonus.

As for Pay Yourself Back, we're not confident one way or the other. Again, not enough lead time for someone who's annual fee was billed on September 1.
Well, end of the month. Not extended AFAIK? I emptied my points today...

[edit] apparently extended thru next April per https://thriftytraveler.com/chase-exten ... self-back/
FedGuy
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Re: JPM Chase Reserve Card gets more expensive

Post by FedGuy »

Da5id wrote: Wed Sep 30, 2020 9:07 pm[edit] apparently extended thru next April per https://thriftytraveler.com/chase-exten ... self-back/
Thanks for the update! Did I miss Chase's email telling me about the extension?

Well, this gives me about three more months to use up all of my points before my annual renewal, at which point I'll cancel or downgrade. Thanks, Chase!
BeneIRA
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Re: JPM Chase Reserve Card gets more expensive

Post by BeneIRA »

The 5X gas bonus on the Chase Sapphire Reserve ends today. Hoping for another valuable 5X category for Q4.
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