Chase Sapphire Reserve retention offer - was worth the effort

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rjbraun
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Chase Sapphire Reserve retention offer - was worth the effort

Post by rjbraun »

I don't see an existing thread on this topic but wanted to follow up on the recent Doctor of Credit report of Chase retention offers to CSR card holders.

https://www.doctorofcredit.com/reader-g ... e-reserve/

To my pleasant surprise, I just got a $250 retention offer when I called Chase to inquire. I'm glad I persevered.

I had originally called the toll-free number on my card. By the time, I got through the representative said that she could not hear me. After hanging up and feeling rather annoyed, I just logged into my Chase account and, basically, inquired by e-mail about how I might reduce or avoid the $450 annual fee. I got a generic reply indicating the query could not be handled by e-mail and that I would need to inquire by phone.

Rather than deal with the toll-free number again, I decided to call the non-toll-free number provided for international travelers. Well, I think that helped to circumvent the normal automated stuff and I got to a live rep reasonably fast -- will definitely keep this in mind for future calls! And to my pleasant surprise she was actually able to also quickly offer a $250 statement credit if I kept my CSR card. Sounded as if there was already an entry in my account, which she just located and cited. Given I had already decided to keep my card when it was up for renewal in the last month or so, this was a nice gift from Chase!

Posting in the hope that others may have similar luck. :D
Seasonal
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by Seasonal »

How did you phrase it on your call? Did you ask for a lower fee, threaten to cancel or what?
Topic Author
rjbraun
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by rjbraun »

Seasonal wrote: Tue Nov 24, 2020 1:53 pm How did you phrase it on your call? Did you ask for a lower fee, threaten to cancel or what?
I said something along the lines of no longer really traveling, in light of the pandemic, so reevaluating the $450 annual fee, which seems quite high given no travel, etc., and wondering what my options might be if I wanted to change. My card recently came up for renewal, and I had already paid the $450 fee this month. As I believe Chase has a 30-day grace period for cancelling and getting the full fee back (at least they used to, I think), I figured that I could cite that in case the rep noted that I had already reupped.

While my account is, technically, under Chase Private Client (CPC), I have not maintained anywhere near the minimum balances for years now. And that has not gone unnoticed by Chase. As with other banks, Chase is reevaluating their relationships for profitability. In that regard, I (and reportedly others) got notice that our CPC accounts will incur fees starting next year, unless we meet CPC balance, etc. requirements, or will need to be downgraded to avoid them. So, it was interesting to me for Chase to offer such an attractive retention bonus given that another part of the bank seems to not find my business profitable enough.
e5116
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by e5116 »

Simply ask: "are there any retention offers or statement credits on my account?" No need to pretend to want to cancel as I've heard reports they're quick to cancel. It's just something they're putting on certain accounts and it's black or white on if they can offer it to you. So HUACA likely won't make a difference either. Either $150, $250, or nothing. I got it too. Using the number on the back of my card worked fine.
Osterix
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by Osterix »

I downgraded from the Chase Sapphire Reserve to the Freedom about a month ago. Called customer service and stated that due to COVID I am not traveling. I did not get a retention offer.
MikeG62
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by MikeG62 »

e5116 wrote: Tue Nov 24, 2020 2:45 pm Simply ask: "are there any retention offers or statement credits on my account?" No need to pretend to want to cancel as I've heard reports they're quick to cancel. It's just something they're putting on certain accounts and it's black or white on if they can offer it to you. So HUACA likely won't make a difference either. Either $150, $250, or nothing. I got it too. Using the number on the back of my card worked fine.
I tried yesterday without success. Spoke to two different people. The bottom line is there has to be an retention offer on your account (it cannot be added by anyone in customer service).

Now, my renewal is not until March 1st. So both people I spoke with suggested calling back the 1st of each month between now and then (said the retention offers are added once a month of the 1st of the month). No guarantees I will get one, but I am thinking I should qualify. After all, I spend about $40K per year on the card (did for the first three years I had it pre-pandemic). In addition, I am a Chase PC.

We will see...
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ManOfIron35
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by ManOfIron35 »

I have the preferred version of the card and received a $100 statement. Called the normal toll free # and was on the phone less than five minutes.
BruDude
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by BruDude »

I called two days ago and they told me they can't make any retention offer.
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anon_investor
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by anon_investor »

ManOfIron35 wrote: Tue Nov 24, 2020 3:12 pm I have the preferred version of the card and received a $100 statement. Called the normal toll free # and was on the phone less than five minutes.
I have the preferred version too. How far away were you from the renewal date? Mine is coming up early next year.
bonfireofthevanities
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by bonfireofthevanities »

No luck on my end. Will try again next month.

Edit: Nov 1 renewal. Preferred.
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Lethal
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by Lethal »

I called yesterday to cancel my CSR card after owning it for about 4 years due to the increased annual fee and less travel plans. However, they said my annual fee would be the normal $450 and they would give a statement credit of $250 if i renewed another year. Hard to pass that up so I'll stick with it for 2021.
Joe Public
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by Joe Public »

I saw this thread and called Chase. I am in the 30-day window for renewal. I mentioned that travel is down, I am considering whether to keep my CSR, and asked whether any statement credits were available. The representative offered $150, and I accepted. It took about three minutes.

Thanks, Bogleheads!
ZinCO
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by ZinCO »

So just to add my datapoint to this thread... The frontline rep said she could not see any offers on my CSR, but offered to send me to a Senior rep if I was thinking about canceling. I let her do that, the new rep asked if I was considering canceling, then old me the offers are based on other relationships with the bank (specifically high deposits and/or investment accounts; unfortunately I just closed my jumbo mortgage with them this month), and only about 1 in 10 of the calls he gets actually have an offer on the account. To be honest I'm not at all surprised that was the response, and that's probably the way it should be, but have not seen any specifics as to how this might be targeted. In the end I did not cancel and will try again in a few months.
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Makaveli
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by Makaveli »

For those that received the retention, how long have you owned the card, what level of assets do you have with them, and how much do you spend on the card annually. Surely this isn’t random.
MikeG62
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by MikeG62 »

Makaveli wrote: Thu Nov 26, 2020 6:35 am For those that received the retention, how long have you owned the card, what level of assets do you have with them, and how much do you spend on the card annually. Surely this isn’t random.
Please add in as well:

A) Whether you have other relationships with them, such as a mortgage, and
B) Your renewal date relative to the day you called and asked for the retention bonus?

I'll add in the answers for me (even though I was told no offers were on my account when I called this week).

Relationships with the bank
1) Chase Private Client with >$300K in securities (one broad-based index ETF transferred in from another broker) sitting in a JPM brokerage account (since June of 2020),
2) Hold/use two Chase branded CC's (Sapphire Reserve and Freedom),
3) Have had the Sapphire Reserve card for almost 4 years. Annual annual charges (prior to this year) ranged from $35K to $45K (about 1/3rd of that level so far this year),
4) Have had the Freedom card for over almost 10 years with average annual charges in the range of 10% of what I charge to the Sapphire Reserve,
5) No mortgage or other business relationships

My card renews in early March of 2021.

I think I called too far in advance of my renewal date, but we will see.
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scoreboard
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by scoreboard »

I called and cancelled this same card on renewal. I love that card but they will pay the bonus points every 4 years. So, I will renew the start of next year and collect the bonus again.
DrGrnTum
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by DrGrnTum »

scoreboard wrote: Thu Nov 26, 2020 9:10 am I called and cancelled this same card on renewal. I love that card but they will pay the bonus points every 4 years. So, I will renew the start of next year and collect the bonus again.
I also canceled my Reserve card. I am presently just past the four-year mark of getting the Reserve bonus.

Chase did a bunch of changes to their Freedom and Sapphire cards. They did it around the time when all the people who signed up for the Reserve card four years ago are now eligible to sign up for the card again.

I am guessing that Chase will soon be making an announcement about the Reserve. It will be interesting to see what is announced. I will be waiting until then to see what comes out and if I again want to sign up. Presently not doing any traveling so I can wait.
prozario01
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by prozario01 »

awesome!! after reading this - my AF applied Sept 1st for $450. 1st i called found out it already renewed and didn't know what to say lol - so i said thank you and hung up. After thinking few mins - called the intl number 2nd time - just figured let's just see - i just asked if there is any retention offer in my account - CSR said we can give you $150!!! I took it.

So with $300 travel credit - which i can now use against grocery purchase - AF net net will be $0.
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ram
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by ram »

Asked if there was a statement credit available. Got 150.
Have 3 chase cards, the CSR, the 1.5% (effectively 2.25% for travel) and Marriott and spend 30-40 K /yr total on all 3 for many yrs.
No other Chase accounts.
Ram
SciurusVulgaris
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by SciurusVulgaris »

prozario01 wrote: Thu Nov 26, 2020 3:08 pm awesome!! after reading this - my AF applied Sept 1st for $450. 1st i called found out it already renewed and didn't know what to say lol - so i said thank you and hung up. After thinking few mins - called the intl number 2nd time - just figured let's just see - i just asked if there is any retention offer in my account - CSR said we can give you $150!!! I took it.

So with $300 travel credit - which i can now use against grocery purchase - AF net net will be $0.
I thought the annual fee had reverted back to $550? I saw elsewhere that others had a $450 annual fee, but wasn't that only for a few months in 2020?
jsh84
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by jsh84 »

I’ve called twice about canceling mine and plan to at the beginning of December. I havnt received any retention offers either.
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Nate79
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by Nate79 »

There are a number of guides on getting retention offers online. Here is an example:
https://upgradedpoints.com/credit-card-retention-offers

Some cards have specific retention phone # and some you need to say "retention" when asked what you are calling about.
TheRealJohnDoe
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by TheRealJohnDoe »

Renewal will be Dec 1 on my CSR. I have six other Chase cards, and at one time this year had Sapphire Checking and YouInvest with > $75K assets (those have now been emptied and closed). Calling the number of the back of the card yielded no offer for retention when I said the card wasn't giving me much value any more with travel restrictions, and I was strongly considering cancelling, unless there was some upcoming benefit I should consider.

The agent said there was nothing he could offer, but all but said I'd have better luck saying up front that I was going to cancel the card and see what happens. You do need to be talking to retention, and the majority of data points I've read say you can't sound wishy washy as if fishing for retention. This is contrary to what some others have stated above, I know. Consider mine just another data point.
prozario01
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by prozario01 »

SciurusVulgaris wrote: Fri Nov 27, 2020 9:35 am
prozario01 wrote: Thu Nov 26, 2020 3:08 pm awesome!! after reading this - my AF applied Sept 1st for $450. 1st i called found out it already renewed and didn't know what to say lol - so i said thank you and hung up. After thinking few mins - called the intl number 2nd time - just figured let's just see - i just asked if there is any retention offer in my account - CSR said we can give you $150!!! I took it.

So with $300 travel credit - which i can now use against grocery purchase - AF net net will be $0.
I thought the annual fee had reverted back to $550? I saw elsewhere that others had a $450 annual fee, but wasn't that only for a few months in 2020?
thought i replied to this - not sure what happened. I was existing card holder and i was supposed to get one more renewal at $450 ... that rule was there pre-covid.
prozario01
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by prozario01 »

TheRealJohnDoe wrote: Fri Nov 27, 2020 2:10 pm Renewal will be Dec 1 on my CSR. I have six other Chase cards, and at one time this year had Sapphire Checking and YouInvest with > $75K assets (those have now been emptied and closed). Calling the number of the back of the card yielded no offer for retention when I said the card wasn't giving me much value any more with travel restrictions, and I was strongly considering cancelling, unless there was some upcoming benefit I should consider.

The agent said there was nothing he could offer, but all but said I'd have better luck saying up front that I was going to cancel the card and see what happens. You do need to be talking to retention, and the majority of data points I've read say you can't sound wishy washy as if fishing for retention. This is contrary to what some others have stated above, I know. Consider mine just another data point.
try few days after you get hit with annual fee. Ask specifically for retention offer & no need to mention about cancel and all that. I said "i heard others got it, i want to see if i have any retention offer."
jh4986
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by jh4986 »

I just called Chase. I said I just renewed and paid my annual fee early this month. Since I could not travel, and not likely to travel next year until most people get their vaccine, is there any retention offer you can provide? The first line agent transferred me to retention department. I repeated what I said. The agent checked my records (card holder since 2016, have checking/savings with Chase...) then said I am eligible for $250 credit. Would I like to take that offer? I said yes and thanked him.
bugleheadd
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by bugleheadd »

surprised they would offer any retention offer. Doesnt chase lose money on their Sapphire reserve card?
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rjbraun
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by rjbraun »

bugleheadd wrote: Fri Nov 27, 2020 2:41 pm surprised they would offer any retention offer. Doesnt chase lose money on their Sapphire reserve card?
I guess if the cardholder charges enough, Chase should make money. Not sure, but if the bank receives 6% from merchants on swipes, that should be $600, "risk-free" for every $10,000 in credit card purchases. So, for a cardholder with an average of, say, $30,000 in purchases annually, that would be $1800 in fees paid by the merchant to the bank. No idea how often it happens, but I suppose there is the potential for late fees, etc. And if the cardholder does other business with Chase, that could be another source of potential revenue.

Eta: Well, It think there were reports earlier of Chase maybe losing money when people got the generous sign-on bonus and then maybe canceled after a year or so. If that's true, that could be why Chase is working to retain existing cardholders.
d0gerz
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by d0gerz »

Tried after reading this thread but no luck. Tried the 1-800 number yesterday and the international number today but same result "At this time no retention offers on your account". Wasn't transferred to retention or anything, but I also didn't push that hard. My $450 annual fee posted on Sep 1. I have a couple other credit cards with Chase. Spending on CSR was $5k last year and $2k YTD. Have had the card since 2016.
prozario01
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by prozario01 »

jh4986 wrote: Fri Nov 27, 2020 2:29 pm I just called Chase. I said I just renewed and paid my annual fee early this month. Since I could not travel, and not likely to travel next year until most people get their vaccine, is there any retention offer you can provide? The first line agent transferred me to retention department. I repeated what I said. The agent checked my records (card holder since 2016, have checking/savings with Chase...) then said I am eligible for $250 credit. Would I like to take that offer? I said yes and thanked him.

did you pay $450 or $550 on renewal? Just trying to figure it out - mine renewed in August for $450 and i got $150 (thought it was too late to ask, but worked anyhow - so i'm glad).
jjbiv
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by jjbiv »

My card renewed in September. I called today to check for retention statement credit offers and no surprise there was not one on my account. I don't charge a ton on the card but I do have a checking and savings account with minimal balances with Chase.
jh4986
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by jh4986 »

prozario01 wrote: Fri Nov 27, 2020 5:36 pm
jh4986 wrote: Fri Nov 27, 2020 2:29 pm I just called Chase. I said I just renewed and paid my annual fee early this month. Since I could not travel, and not likely to travel next year until most people get their vaccine, is there any retention offer you can provide? The first line agent transferred me to retention department. I repeated what I said. The agent checked my records (card holder since 2016, have checking/savings with Chase...) then said I am eligible for $250 credit. Would I like to take that offer? I said yes and thanked him.

did you pay $450 or $550 on renewal? Just trying to figure it out - mine renewed in August for $450 and i got $150 (thought it was too late to ask, but worked anyhow - so i'm glad).
I was charged $450 on 11/1/20, and I was told eligible for $250 credit. I can't remember what the agent said when I will see the credit. He went thru other possible credits for this card very quickly: Doordash, and Lyft. I vaguely remember he said I will get this $250 credit in 2 billing cycles. Does that sound right?
ilan1h
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by ilan1h »

I have been wanting to cancel my Sapphire Reserve for a while but am hesitating because I have a lot of points that have been earned under this program and I understand that you get much less favorable use of these points after you cancel. On another note, I have been traveling during the pandemic but have not been able to use the lounges that are one of the big perks of this card.
MikeG62
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by MikeG62 »

ilan1h wrote: Sun Nov 29, 2020 12:56 pm I have been wanting to cancel my Sapphire Reserve for a while but am hesitating because I have a lot of points that have been earned under this program and I understand that you get much less favorable use of these points after you cancel. On another note, I have been traveling during the pandemic but have not been able to use the lounges that are one of the big perks of this card.
If you really are going to cancel it, then use the pay yourself back feature first to get a statement credits at 1.5 cents per point. Assuming these points were accumulated from past travel and dining (at 3 points per dollar), this effectively bumps the value of the points to 4.5 cents per dollar spent (or 4.5% cash back).

OTOH, if you can get Chase to give you a retention and pouch that together with the $300 statement credit (which they now give for groceries) you can effectively eliminate the annual fee for this coming year. This is my plan. While I have monetized 200K points for $3,000 in statement credits (80K of those points came from my DW signing up for the Sapphire Preferred card a couple of months ago and transferring them to me), I plan to hold onto my remaining 200K points for future use.
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ohboy!
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by ohboy! »

2 minute call got me $150 credit
cheesepep
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by cheesepep »

Pretty annoyed that I am a CapitalOne Venture credit card holder for 10+ years and billed over 200,000 USD on the card over the time and started reading TPG and DoC and asked for a retention offer a month and a half ago and was denied.

I still kept the card, but thinking of canceling it still. It is one of my credit cards that I have held the longest and has my greatest credit limit, so afraid of what might happen if I do cancel it. I barely use it anymore.
Ghost2
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by Ghost2 »

I tried. Got nothing, just "We might offer this later." I asked why not, and was told "Every cardholder's account is different." I asked what the algorithm is, and he couldn't answer. I don't think he had the faintest idea what it might be. I can't use Lyft or Door Dash where I live, can't fly because of Covid, and am at 48 months since opening the card. I'm thinking of cancelling it, waiting a few months, and re-applying to get the points bonus. Anyone have experience with that? How often does a re-application get denied?
ManOfIron35
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by ManOfIron35 »

anon_investor wrote: Tue Nov 24, 2020 3:18 pm
ManOfIron35 wrote: Tue Nov 24, 2020 3:12 pm I have the preferred version of the card and received a $100 statement. Called the normal toll free # and was on the phone less than five minutes.
I have the preferred version too. How far away were you from the renewal date? Mine is coming up early next year.
I just renewed a month ago but utilize the card pretty extensively.
mpsz
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by mpsz »

Does anyone know if Chase will offer a pro-rated refund of the annual fee? I'm a day-1 CSR holder, so I was billed the AF on September 1 (iirc). I am actually willing to follow through on cancelling the card if they don't offer at least $150 credit.

The $450 renewal was nice, but with no travel right now and Chase devaluing this card by adding 3x dining to the Freedoms, it's worth a $0 annual fee ($300 travel credit for groceries + $150 or higher retention gets it there)
nyboogie
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by nyboogie »

Called this morning as this is my primary CC, but no retention offers/credits. Could be because my card renews in October so I'm almost 2 months out.
SciurusVulgaris
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by SciurusVulgaris »

Card renews in about a month, but no retention offer on it.
DrGrnTum
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by DrGrnTum »

Ghost2 wrote: Sun Nov 29, 2020 7:58 pm I tried. Got nothing, just "We might offer this later." I asked why not, and was told "Every cardholder's account is different." I asked what the algorithm is, and he couldn't answer. I don't think he had the faintest idea what it might be. I can't use Lyft or Door Dash where I live, can't fly because of Covid, and am at 48 months since opening the card. I'm thinking of cancelling it, waiting a few months, and re-applying to get the points bonus. Anyone have experience with that? How often does a re-application get denied?
You may want to consider calling the phone number in back of the card and ask to do a product change on the card. You can change it to a Freedom Flex or to a Freedom Unlimited. With a product change, you will not take a hit on your credit score as you would in closing the card.

I have the Unlimited. It is a no annual fee card. The points earning now closely match what can be earned with the Reserve.

We have the Freedom Unlimited and the Freedom Flex. The points earned with these cards can be combined for a higher redemption rate. When I had the Reserve, we would consistently annually earn 100K points with the three cards. We would pay as many bills as we could with the Unlimited and take advantage of each quarterly earning on the regular Freedom.

We would combine all the points to the Reserve and use those points to redeem them for travel using the Chase portal.
If you do cancel or product change the card and again apply for the Reserve, you should wait couple of months after the date when you received the bonus.

Also, if you do product change the card and that card still has a high credit limit you may want to call and reduce the credit limit before you again sign up for the Reserve.
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anon_investor
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by anon_investor »

ManOfIron35 wrote: Mon Nov 30, 2020 9:39 am
anon_investor wrote: Tue Nov 24, 2020 3:18 pm
ManOfIron35 wrote: Tue Nov 24, 2020 3:12 pm I have the preferred version of the card and received a $100 statement. Called the normal toll free # and was on the phone less than five minutes.
I have the preferred version too. How far away were you from the renewal date? Mine is coming up early next year.
I just renewed a month ago but utilize the card pretty extensively.
Interesting. Do you have any special Chase status that might have helped you get that statement credit?
sng
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by sng »

Hi,

I called last Friday and today, no retention offer on my account. The card renews tomorrow.

I have both Chase Reserve and Chase Freedom. Chase reserve is my primary credit card but I charge less than 20k a year.
rich126
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by rich126 »

I'll have to call in and see what they say. I have a bunch (too many?) of CCs and have been canceling them or downgrading to a no annual fee card. Yesterday I canceled 2. In one case they offered about a 40% reduction of the annual fee and in the other offered about the equivalent of the AF in points but I declined both. Not likely to travel much and especially not on that airline.
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JaneyLH
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by JaneyLH »

I just called and received the sad news that I don't have a retention offer on my card. I was offered the Chase Freedom Unlimited while retaining the same credit card number (but the expiration date/security code will change, so still have to contact everyone that is autocharging to that card) and the 4-year history on the account.

Since I have had the card for 4 years, when we start traveling again I would have the choice of either switching the account back to Reserve or adding a new Reserve account and getting whatever bonus offer is in place for new customers. That would change my credit card number, but probably OK with me depending on the number of miles. (Will work for miles if enough!)
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JaneyLH
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by JaneyLH »

ilan1h wrote: Sun Nov 29, 2020 12:56 pm I have been wanting to cancel my Sapphire Reserve for a while but am hesitating because I have a lot of points that have been earned under this program and I understand that you get much less favorable use of these points after you cancel.
The agent I spoke with confirmed that you have to use any remaining points within 30 days if you cancel. If you opt to switch to the Chase Unlimited Freedom card, you can retain your points with no time limit.
MBB_Boy
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by MBB_Boy »

JaneyLH wrote: Mon Nov 30, 2020 8:19 pm
ilan1h wrote: Sun Nov 29, 2020 12:56 pm I have been wanting to cancel my Sapphire Reserve for a while but am hesitating because I have a lot of points that have been earned under this program and I understand that you get much less favorable use of these points after you cancel.
The agent I spoke with confirmed that you have to use any remaining points within 30 days if you cancel. If you opt to switch to the Chase Unlimited Freedom card, you can retain your points with no time limit.
But the points are worth less for the travel portal and pay yourself back options. Reserve points are worth 1.5c, freedom points only worth 1c
MikeG62
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by MikeG62 »

I have a theory that those who use their CSR only for spend that falls into the top tier category (3 points per dollar spent) may not get a retention offer. [That would be me as I don't charge anything to this card that is outside of the 3 points per dollar categories.]

Since I suspect Chase is not making money when they have to pay 3 points per dollar, it seems plausible that they are only extending the retention offers to those card holders who are profitable to them (i.e., those who charge a decent amount into the 1 point per dollar category). Since I was told there is an algorithm which determines who gets a credit and at what dollar amount, this seems an easy and objective way to determine who qualifies and who does not.

For those below who have gotten retention offers, can you comment on the extent to which you use your CSR card for spend in categories other than the top tier 3 points per dollar.

Also, do you have a mortgage loan with Chase?
rjbraun wrote: Tue Nov 24, 2020 1:47 pm To my pleasant surprise, I just got a $250 retention offer when I called Chase to inquire.
Joe Public wrote: Tue Nov 24, 2020 5:52 pm I saw this thread and called Chase. I am in the 30-day window for renewal. I mentioned that travel is down, I am considering whether to keep my CSR, and asked whether any statement credits were available. The representative offered $150, and I accepted. It took about three minutes.
prozario01 wrote: Thu Nov 26, 2020 3:08 pm awesome!! after reading this - my AF applied Sept 1st for $450...I called (and) CSR said we can give you $150!!!
ram wrote: Thu Nov 26, 2020 6:07 pm Asked if there was a statement credit available. Got $150.
jh4986 wrote: Fri Nov 27, 2020 2:29 pm I just called Chase...they said I am eligible for $250 credit.
ohboy! wrote: Sun Nov 29, 2020 6:52 pm 2 minute call got me $150 credit
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rjbraun
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Re: Chase Sapphire Reserve retention offer - was worth the effort

Post by rjbraun »

MikeG62 wrote: Tue Dec 01, 2020 7:48 pm For those below who have gotten retention offers, can you comment on the extent to which you use your CSR card for spend in categories other than the top tier 3 points per dollar.

Also, do you have a mortgage loan with Chase?
Primarily use CSR only for 3x categories, don't recall using much otherwise.

No mortgage with Chase at present. As mentioned in another thread, I believe, Chase was quite uncompetitive when I tried to refinance my mortgage with them close to 10 years ago, so I prepaid and refi'd with another bank.
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