chase sapphire rewards strategy

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sksbog
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chase sapphire rewards strategy

Post by sksbog » Tue Apr 28, 2020 12:02 pm

Hello Everyone,

Now that the travel is down, how is everyone planning to redeem/strategize for the premium chase sapphire rewards program?

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anon_investor
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Re: chase sapphire rewards strategy

Post by anon_investor » Tue Apr 28, 2020 12:12 pm

sksbog wrote:
Tue Apr 28, 2020 12:02 pm
Hello Everyone,

Now that the travel is down, how is everyone planning to redeem/strategize for the premium chase sapphire rewards program?
I am just holding on to my points for now (since they are worth 20% more if redeemed for travel). Worst case I figure I can just redeem them for cash (Chase will direct deposit the case value to a linked bank account).

aspiring boglehead
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Re: chase sapphire rewards strategy

Post by aspiring boglehead » Tue Apr 28, 2020 12:30 pm

I just got a bunch of points re-deposited from a flight I was supposed to take last weekend.

There are sometimes deals on the points redemption page--I noticed the grocery store I use has a 10% points discount right now so I was considering using some of my points there since I'm not sure I will travel any time soon. It's not as good as travel redemption, but better than doing cash back and I know I will use it.

BW1985
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Re: chase sapphire rewards strategy

Post by BW1985 » Tue Apr 28, 2020 12:33 pm

I have a lot more than I can use in the coming years given all my other points with the programs directly. I've already cashed out all my MR and will be doing the same with most of my UR.
Chase the good life my whole life long, look back on my life and my life gone...where did I go wrong?

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JDCarpenter
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Re: chase sapphire rewards strategy

Post by JDCarpenter » Tue Apr 28, 2020 12:34 pm

For us, travel is down, not out. We are planning a pair of multi-month international trips next year, which will take care of rewards points.
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anon_investor
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Re: chase sapphire rewards strategy

Post by anon_investor » Tue Apr 28, 2020 12:55 pm

BW1985 wrote:
Tue Apr 28, 2020 12:33 pm
I have a lot more than I can use in the coming years given all my other points with the programs directly. I've already cashed out all my MR and will be doing the same with most of my UR.
How many UR are you sitting on? I have over 450k, which I was saving to use for an international family trip, which I still plan to do at some point in the future. I can get over $4.5k for those, but if used for travel they are worth $5.4k (20% more). In theory, if I use the cash and invest it and get a better than 20% return after taxes I would end up better off...

drk
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Re: chase sapphire rewards strategy

Post by drk » Tue Apr 28, 2020 1:01 pm

I cashed out my UR/MR points last month, and I bought stock funds with the money, so I've already seen a 20% return.

That said, I still have several hundred thousand airline miles and hotel points, so I'm not worried about having currency to book awards travel when it's possible again.

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anon_investor
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Re: chase sapphire rewards strategy

Post by anon_investor » Tue Apr 28, 2020 1:08 pm

drk wrote:
Tue Apr 28, 2020 1:01 pm
I cashed out my UR/MR points last month, and I bought stock funds with the money, so I've already seen a 20% return.

That said, I still have several hundred thousand airline miles and hotel points, so I'm not worried about having currency to book awards travel when it's possible again.
Honestly I regret not doing that in March...

student
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Re: chase sapphire rewards strategy

Post by student » Tue Apr 28, 2020 1:18 pm

I have redeemed the points for cash.

BW1985
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Re: chase sapphire rewards strategy

Post by BW1985 » Tue Apr 28, 2020 1:37 pm

anon_investor wrote:
Tue Apr 28, 2020 12:55 pm
BW1985 wrote:
Tue Apr 28, 2020 12:33 pm
I have a lot more than I can use in the coming years given all my other points with the programs directly. I've already cashed out all my MR and will be doing the same with most of my UR.
How many UR are you sitting on? I have over 450k, which I was saving to use for an international family trip, which I still plan to do at some point in the future. I can get over $4.5k for those, but if used for travel they are worth $5.4k (20% more). In theory, if I use the cash and invest it and get a better than 20% return after taxes I would end up better off...
Over a million. But I also have hundreds of thousands with airlines and hotels already so I can do lots of travel without touching any UR.
Chase the good life my whole life long, look back on my life and my life gone...where did I go wrong?

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anon_investor
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Re: chase sapphire rewards strategy

Post by anon_investor » Tue Apr 28, 2020 2:00 pm

BW1985 wrote:
Tue Apr 28, 2020 1:37 pm
anon_investor wrote:
Tue Apr 28, 2020 12:55 pm
BW1985 wrote:
Tue Apr 28, 2020 12:33 pm
I have a lot more than I can use in the coming years given all my other points with the programs directly. I've already cashed out all my MR and will be doing the same with most of my UR.
How many UR are you sitting on? I have over 450k, which I was saving to use for an international family trip, which I still plan to do at some point in the future. I can get over $4.5k for those, but if used for travel they are worth $5.4k (20% more). In theory, if I use the cash and invest it and get a better than 20% return after taxes I would end up better off...
Over a million. But I also have hundreds of thousands with airlines and hotels already so I can do lots of travel without touching any UR.
Ah. I have over 450k UR but only around 50k miles with my main airline. Enough for the family trip I was planning for. But maybe we can still do it in 2021... $4.5k is not going to more my portfolio much even if I was able to double it. However, if Chase changes the terms of their UR program, I will definitely make sure to cash out the points before any changes come into effect.

02nz
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Re: chase sapphire rewards strategy

Post by 02nz » Tue Apr 28, 2020 2:56 pm

I've also cashed out a large portion of my UR points. Between the pandemic, the increase in Sapphire Reserve annual fee, and having a lot of airline and hotel points, I just didn't see a use even in the medium term for them.

BeneIRA
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Re: chase sapphire rewards strategy

Post by BeneIRA » Tue Apr 28, 2020 3:20 pm

Sitting on them. Can always cash them out if I need to, but I am planning on using them for travel at some point.

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cowdogman
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Re: chase sapphire rewards strategy

Post by cowdogman » Tue Apr 28, 2020 4:26 pm

For me the issue is whether to ever use Chase Travel again. All the reservations I had directly with American and Delta I dealt with over the phone with minimum wait/hassle.

Trying to get Chase Travel on the phone was virtually impossible.

For one Chase Travel reservation with Delta I finally called Delta and Delta agreed to cancel the reservation and credit my Delta account with an e-credit (100%).

I fly Delta and American, neither of which is a Chase transfer partner. And I don't really use any other Sapphire Reserve benefits (other than the $300 travel credit).

So I expect I will cash out my 300K+ UR points and cancel or downgrade my Reserve card. Just haven't pulled the trigger yet.

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aj76er
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Re: chase sapphire rewards strategy

Post by aj76er » Tue Apr 28, 2020 5:04 pm

We only have 100k right now. We canceled a trip last month and expect to re-book sometime next year. This quarter, the Chase Freedom card has 5% points on Grocery stores so I will just continue accumulating. I only got the Sapphire (last year) for the bonus (for our trip last month). I've thought about transferring points to the Freedom and canceling the Sapphire, but with the 20% point premium of the Sapphire, it's still worth keeping (a few more years before breaking even).
"Buy-and-hold, long-term, all-market-index strategies, implemented at rock-bottom cost, are the surest of all routes to the accumulation of wealth" - John C. Bogle

am
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Re: chase sapphire rewards strategy

Post by am » Tue Apr 28, 2020 8:36 pm

Cashed UR point out. A bird in hand is worth two in the bush.

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Admiral Fun
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Re: chase sapphire rewards strategy

Post by Admiral Fun » Tue Apr 28, 2020 8:52 pm

Not cashing out. For now, I consider our 500k UR points as part of our emergency fund.

I’ll re visit the decision in January when the Sapphire Reserve renews. At that point I’ll probably either cash out or book some trips, depending on the state of the pandemic.

UpperNwGuy
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Re: chase sapphire rewards strategy

Post by UpperNwGuy » Tue Apr 28, 2020 9:32 pm

I will cash out my UR points between now and August, and I will downgrade the card to a no-fee Freedom Unlimited when the new (higher) annual fee is billed on September1.

My only regret is that I transferred 60,000 UR to United in 2019 for an award flight to Spain in May 2020. I've cancelled the flight, and United redeposited the miles, but now I am stuck with 60,000 miles at United instead of 60,000 UR at Chase.

FireSekr
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Re: chase sapphire rewards strategy

Post by FireSekr » Tue Apr 28, 2020 9:35 pm

Keeping them for travel once the panic dies down. Redeeming ultimate rewards points for business and first class international travel is far more valuable than redeeming them for cash

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