Sep 2, 2017, 7:31 pm
Last edit by: kerrigjl
In 2017, at the first renewal of the 2016 Chase Sapphire Reserve card,* no retention offers have been forthcoming. It appears that Chase is not offering retention bonuses on this card at this time, and will cancel the card at the cardholders request without further ado.
*A retention offer has been reported (though it's minimal): https://www.flyertalk.com/forum/28917524-post376.html
Posts 333 and 327 discuss a fee credit issued by Chase when cancelling the card. These have been called both "Annual Fee Refund" and "Membership Fee Credit."
This thread discusses the timing of both cancelling and product changing (downgrading to Sapphire Preferred) in order to 1) Keep from paying the $450 annual fee, and 2) possibly get a 2018 $300 travel credit before cancelling.
The rules changed for the travel credit on cards issued in May 2017, making the travel credit a calendar year issuance rather than a Dec statement to Dec Statement issuance.
The nuances discussed within this thread include changing your billing date, fees posting on the 1st of the month, and the 30 day window to cancel/60 day window to product change.
09/03/17 - 72k spend, no offer.
09/03/17 - 30k spend, no offer.
09/04/17 - 25k spend, no offer.
09/05/17 - 10k spend, no offer.
09/06/17 - 24k spend, no offer.
09/06/17 - Maybe 4-5K spend. No offer, closed.
09/06/17 - Spend unspecified, no offer.
09/07/17 - 10k spend, no offer.
09/12/17 - 15k annual spend, no offer, downgraded to Chase Freedom to preserve cl
09/18/17 - No offer.
09/22/17 - 25k spend, no offer.
09/29/17 - 17k spend, no offer.
10/02/17 - 64k spend, no offer.
10/10/17 - 16.5k, 2,500 point offer, declined.
10/13/17 - 165k, no offer.
10/13/17- No offer. ~$25k
10/21/17 - No offer, maybe $10k spend, transferred CL, cancelled.
03/02/18 - No offer, ~$13.5k spend
*A retention offer has been reported (though it's minimal): https://www.flyertalk.com/forum/28917524-post376.html
Posts 333 and 327 discuss a fee credit issued by Chase when cancelling the card. These have been called both "Annual Fee Refund" and "Membership Fee Credit."
This thread discusses the timing of both cancelling and product changing (downgrading to Sapphire Preferred) in order to 1) Keep from paying the $450 annual fee, and 2) possibly get a 2018 $300 travel credit before cancelling.
The rules changed for the travel credit on cards issued in May 2017, making the travel credit a calendar year issuance rather than a Dec statement to Dec Statement issuance.
The nuances discussed within this thread include changing your billing date, fees posting on the 1st of the month, and the 30 day window to cancel/60 day window to product change.
09/03/17 - 72k spend, no offer.
09/03/17 - 30k spend, no offer.
09/04/17 - 25k spend, no offer.
09/05/17 - 10k spend, no offer.
09/06/17 - 24k spend, no offer.
09/06/17 - Maybe 4-5K spend. No offer, closed.
09/06/17 - Spend unspecified, no offer.
09/07/17 - 10k spend, no offer.
09/12/17 - 15k annual spend, no offer, downgraded to Chase Freedom to preserve cl
09/18/17 - No offer.
09/22/17 - 25k spend, no offer.
09/29/17 - 17k spend, no offer.
10/02/17 - 64k spend, no offer.
10/10/17 - 16.5k, 2,500 point offer, declined.
10/13/17 - 165k, no offer.
10/13/17- No offer. ~$25k
10/21/17 - No offer, maybe $10k spend, transferred CL, cancelled.
03/02/18 - No offer, ~$13.5k spend
Chase Sapphire Reserve: Renewal & Retention
Sep 22, 2017, 11:52 am
#257
Join Date: Jul 2009
Posts: 21
Struck out
Asked for offers on CSR to stay, she declined and saw no offers in the system to give (fee waiver, credits, or bonus points). Super nice rep and still no dice. Spend was $10k in 2016 and $15k so far in 2017
Opted to keep the card at least until next year retention attempt because:
Opened 8/2016 so 2 AFs = $900
100k bonus - roughly $1000
travel credit 2016 - $300
travel credit 2017 $300
still up $700 ^
Opted to keep the card at least until next year retention attempt because:
Opened 8/2016 so 2 AFs = $900
100k bonus - roughly $1000
travel credit 2016 - $300
travel credit 2017 $300
still up $700 ^
Sep 22, 2017, 12:17 pm
#258
Join Date: Sep 2005
Location: JZRO
Posts: 9,169
Asked for offers on CSR to stay, she declined and saw no offers in the system to give (fee waiver, credits, or bonus points). Super nice rep and still no dice. Spend was $10k in 2016 and $15k so far in 2017
Opted to keep the card at least until next year retention attempt because:
Opened 8/2016 so 2 AFs = $900
100k bonus - roughly $1000
travel credit 2016 - $300
travel credit 2017 $300
still up $700 ^
Opted to keep the card at least until next year retention attempt because:
Opened 8/2016 so 2 AFs = $900
100k bonus - roughly $1000
travel credit 2016 - $300
travel credit 2017 $300
still up $700 ^
Sep 22, 2017, 2:44 pm
#259
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,762
Asked for offers on CSR to stay, she declined and saw no offers in the system to give (fee waiver, credits, or bonus points). Super nice rep and still no dice. Spend was $10k in 2016 and $15k so far in 2017
Opted to keep the card at least until next year retention attempt because:
Opened 8/2016 so 2 AFs = $900
100k bonus - roughly $1000
travel credit 2016 - $300
travel credit 2017 $300
still up $700 ^
Opted to keep the card at least until next year retention attempt because:
Opened 8/2016 so 2 AFs = $900
100k bonus - roughly $1000
travel credit 2016 - $300
travel credit 2017 $300
still up $700 ^
Sep 22, 2017, 6:37 pm
#260
Original Poster
Join Date: Jul 2016
Posts: 495
You will get another $300 travel credit in 2018 before the 2nd anniversary or the 3rd AF. The travel credits of 3 calendar years (provided you would be able to claim the 3rd year's before end of August 2018) essentially make the card a no fee card the first 2 years for those who have gotten the card before the benefit structure changed in May.
Please explain with an example so we may understand. Assume that someone opened their account on 11/5/2016
Sep 22, 2017, 7:01 pm
#261
Join Date: Jul 1999
Posts: 196
Two years of annual fees = $900. Three travel credits of $300 = $900 (assuming you got it for 2016, 2017, and 2018).
Sep 22, 2017, 7:04 pm
#262
Join Date: Aug 2007
Location: Truth or Consequences, NM
Programs: HH Diamond, Marriott Titanium, Hertz President's Circle, UA Silver, Mobile Passport Unobtanium
Posts: 6,193
After December 2016 statement, use $300 travel credit again.
11/5/2017, pay $450. After December 2017 statement, use $300 travel credit again.
Two annual fees = $900. Three travel credits = $900.
Sep 22, 2017, 7:22 pm
#263
Original Poster
Join Date: Jul 2016
Posts: 495
Open account on 11/5/16: $450, get $300 credit for 2016 and $300 for 2017 and then cancel the card before 11/5/17. Total fee = $450, total credit = $600. Net benefit = $150.
Sep 22, 2017, 7:37 pm
#264
Join Date: Jul 1999
Posts: 196
I didn't take a position as to which is better, but you asked why Happy views the CSR as a no-fee card for the first two years, so I laid out the math for you. (Diplomatico did the same, in greater detail, after me.)
Sep 22, 2017, 8:16 pm
#265
Join Date: Sep 2012
Posts: 4,431
My wife's AF posted on 9/1. For sure she's going to cancel or downgrade, but I'm still thinking of best strategy.
She's going for Southwest CP so removing a card from her account might be a good idea (currently has 5 personal, 1 business right now). This is the main reason why we're considering closing the CSR.
On the other hand, she might keep it till January to get the $300 travel credit, then downgrading at that point and getting a pro-rated refund of the AF. Of course, nobody has actually done this this is just speculation.
She's going for Southwest CP so removing a card from her account might be a good idea (currently has 5 personal, 1 business right now). This is the main reason why we're considering closing the CSR.
On the other hand, she might keep it till January to get the $300 travel credit, then downgrading at that point and getting a pro-rated refund of the AF. Of course, nobody has actually done this this is just speculation.
Sep 22, 2017, 9:13 pm
#266
Join Date: Feb 2017
Posts: 50
It's clear they're not going to offer anyone a retention bonus for this card, so not sure why people are still wasting their time trying.
Sep 23, 2017, 12:12 am
#267
Join Date: Sep 2011
Programs: Virgin Atlantic Silver, IHG Diamond, Bonvoy Gold, Hilton Diamond, AA Platinum Pro
Posts: 1,386
Also, we're all waiting for "that person" that put $100K+ on the card to report in.
Sep 23, 2017, 12:43 am
#268
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,762
Both paradox and Diplomatico have given you the examples you asked.
If you are asking which method is better, you have not said so.
Here is for you on what would be a better method based on how much free money you net -
You should have timed your application so that you could claim 3 travel credits and only pay 1 AF. Now that would net you $300 instead of just $150 for the same duration of ownership.
For some who want to maximize their travel credits, they actually timed their card acquisition to such a timing so they could claim 3 travel credits but pay only 1 AF, because they can claim 2018 credit and still be able to cancel the card within 30 days after the 2nd AF is billed, thus only pay the 1st AF.
So for this type of cardholders, they gained 3x $300 travel credit and only paid 1x $450 AF.
Bottom line, my comment is not which method is better, but it is for if one wants to keep the card, all one "loses" is $150 overage from the travel credit, but then one gets to use the CSR and its benefits for one more year essentially for free. Some CSR benefits could be well worth more than $150 to some cardholders. Only each individual can tell whether $150 is better or another year to use the benefits is better.
Last edited by Happy; Sep 23, 2017 at 1:06 am
Sep 23, 2017, 6:13 am
#269
Join Date: Sep 2011
Posts: 1,857
Amex has restrictions on the number of credit card accounts you can have open with them at any given time (4 or 5). Chase has no such restriction. I can think of no reason why closing the CSR would increase your wife's chances of being approved for future Chase cards.