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 » 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/
“There is no problem so bad you can’t make it worse.” - Chris Hatfield, Astronaut mantra

UpperNwGuy
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Re: JPM Chase Reserve Card gets more expensive

Post by UpperNwGuy » Sun Jun 21, 2020 11:51 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.
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 » Sun Jun 21, 2020 12:15 pm

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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Location: Washington State

Re: JPM Chase Reserve Card gets more expensive

Post by cowdogman » Sun Jun 21, 2020 3:27 pm

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 » 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.

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ohboy!
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Re: JPM Chase Reserve Card gets more expensive

Post by ohboy! » Mon Jun 22, 2020 10:36 am

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 » Mon Jun 22, 2020 3:48 pm

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 » Tue Jun 23, 2020 12:02 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 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 » 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.

lakpr
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Joined: Fri Mar 18, 2011 9:59 am

Re: JPM Chase Reserve Card gets more expensive

Post by lakpr » Tue Jun 23, 2020 11:59 am

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 » Tue Jun 23, 2020 12:06 pm

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 » 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.

rjbraun
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Re: JPM Chase Reserve Card gets more expensive

Post by rjbraun » Tue Jun 23, 2020 1:20 pm

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 » 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.
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 » Tue Jun 30, 2020 12:28 pm

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 » 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/

mervinj7
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Re: JPM Chase Reserve Card gets more expensive

Post by mervinj7 » 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.
Last edited by mervinj7 on Mon Jul 06, 2020 11:11 am, edited 2 times in total.

drizzleray
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Joined: Mon Oct 15, 2018 3:48 pm

Re: JPM Chase Reserve Card gets more expensive

Post by drizzleray » Mon Jul 06, 2020 10:57 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/
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
Posts: 1143
Joined: Wed Jan 13, 2016 9:59 pm

Re: JPM Chase Reserve Card gets more expensive

Post by Whakamole » Mon Jul 06, 2020 11:08 am

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
Posts: 1464
Joined: Thu Mar 27, 2014 3:10 pm

Re: JPM Chase Reserve Card gets more expensive

Post by mervinj7 » Mon Jul 06, 2020 11:11 am

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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