New Chase rule: only one Sapphire card
Aug 28, 2017, 7:47 pm
#16
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Makes sense, thanks for pointing this out.
Someone on Reddit also pointed out another area of ambiguity in that PC-ing is different than "closing" an account. The memo refers specifically to no eligibility for 24 months after closing an account, so perhaps it would still be possible to downgrade the CSP to a Freedom as soon as the CSP bonus posted and then be approved for a CSR with eligibility for a CSR bonus. You haven't technically closed any accounts in that scenario, nor would you be holding multiple Sapphire products at any time.
I personally doubt it, as the intent seems to be to prevent double dipping bonuses (or at least wait a few years before doing so) and this is a fairly obvious workaround. But will be interesting to see.
Edit: whoops, Diplomatico made the same point upthread! Should have read closer
Someone on Reddit also pointed out another area of ambiguity in that PC-ing is different than "closing" an account. The memo refers specifically to no eligibility for 24 months after closing an account, so perhaps it would still be possible to downgrade the CSP to a Freedom as soon as the CSP bonus posted and then be approved for a CSR with eligibility for a CSR bonus. You haven't technically closed any accounts in that scenario, nor would you be holding multiple Sapphire products at any time.
I personally doubt it, as the intent seems to be to prevent double dipping bonuses (or at least wait a few years before doing so) and this is a fairly obvious workaround. But will be interesting to see.
Edit: whoops, Diplomatico made the same point upthread! Should have read closer
"The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 24 months."
Aug 28, 2017, 8:46 pm
#18
Join Date: Jan 2014
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Well with sites like TPG encouraging signing up for the "trifecta," it isn't like Chase was just going to standby and let everyone and their mother screw them out of AF and keep the points forever.
Aug 28, 2017, 8:50 pm
#19
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Aug 28, 2017, 9:02 pm
#20
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Aug 28, 2017, 11:26 pm
#21
Join Date: Nov 2013
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This affects a colleague who closed his CSP when he got the CSR, but was thinking about downgrading back to a CSP when his AF is up, so he could keep his URs.
Aug 29, 2017, 5:52 am
#22
Join Date: Sep 2005
Location: JZRO
Posts: 9,169
And if I understand it, if they don't let you apply for a CSP, bonus or not, then you have to cash out your points or lose them cancelling the CSR.
This affects a colleague who closed his CSP when he got the CSR, but was thinking about downgrading back to a CSP when his AF is up, so he could keep his URs.
This affects a colleague who closed his CSP when he got the CSR, but was thinking about downgrading back to a CSP when his AF is up, so he could keep his URs.
On another point, if you have a spouse who has (or could get) a CSR/CSP/INK, you could transfer your URs to him/her. My wife is an AU on my CSR and has her own CF card (two of them, actually). She transfers her URs to my account. Thus, we both generate URs yet between us we pay an annual fee on only one card. (Shhh, don't tell Chase.)
Aug 29, 2017, 7:32 am
#23
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And if I understand it, if they don't let you apply for a CSP, bonus or not, then you have to cash out your points or lose them cancelling the CSR.
This affects a colleague who closed his CSP when he got the CSR, but was thinking about downgrading back to a CSP when his AF is up, so he could keep his URs.
This affects a colleague who closed his CSP when he got the CSR, but was thinking about downgrading back to a CSP when his AF is up, so he could keep his URs.
Aug 29, 2017, 8:08 am
#24
Join Date: Feb 2014
Posts: 291
From the language in the memo downgrading seems to be allowed. Just can't receive any new sign-up bonus.
So now that I think about it, and assuming I'm understanding the new rules correctly, it's not all that bad...
My understanding is that the 24 month wait triggers only when you receive a Sapphire bonus. Cancelling a Sapphire card doesn't trigger it so come this time next year we can cancel the CSR / sign up for a CSP.
So now that I think about it, and assuming I'm understanding the new rules correctly, it's not all that bad...
My understanding is that the 24 month wait triggers only when you receive a Sapphire bonus. Cancelling a Sapphire card doesn't trigger it so come this time next year we can cancel the CSR / sign up for a CSP.
Aug 29, 2017, 9:13 am
#25
Join Date: Oct 2010
Location: Santa Barbara, CA
Posts: 1,277
From the language in the memo downgrading seems to be allowed. Just can't receive any new sign-up bonus.
So now that I think about it, and assuming I'm understanding the new rules correctly, it's not all that bad...
My understanding is that the 24 month wait triggers only when you receive a Sapphire bonus. Cancelling a Sapphire card doesn't trigger it so come this time next year we can cancel the CSR / sign up for a CSP.
So now that I think about it, and assuming I'm understanding the new rules correctly, it's not all that bad...
My understanding is that the 24 month wait triggers only when you receive a Sapphire bonus. Cancelling a Sapphire card doesn't trigger it so come this time next year we can cancel the CSR / sign up for a CSP.
Aug 29, 2017, 10:21 am
#26
Join Date: Dec 2010
Location: DEL
Posts: 1,057
What is Chase intending to accomplish by denying people the card itself?
I understand what they're accomplishing by denying the bonus to anyone who has had a Sapphire-series card in the past 24 months, but if I cancel my CSR tomorrow and decide 6 mos from now that I want a CSP (or want my CSR back, for that matter), what is Chase gaining by telling me "no" instead of "sure, but no bonus UR points"?
I understand what they're accomplishing by denying the bonus to anyone who has had a Sapphire-series card in the past 24 months, but if I cancel my CSR tomorrow and decide 6 mos from now that I want a CSP (or want my CSR back, for that matter), what is Chase gaining by telling me "no" instead of "sure, but no bonus UR points"?
Aug 29, 2017, 10:41 am
#27
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What is Chase intending to accomplish by denying people the card itself?
I understand what they're accomplishing by denying the bonus to anyone who has had a Sapphire-series card in the past 24 months, but if I cancel my CSR tomorrow and decide 6 mos from now that I want a CSP (or want my CSR back, for that matter), what is Chase gaining by telling me "no" instead of "sure, but no bonus UR points"?
I understand what they're accomplishing by denying the bonus to anyone who has had a Sapphire-series card in the past 24 months, but if I cancel my CSR tomorrow and decide 6 mos from now that I want a CSP (or want my CSR back, for that matter), what is Chase gaining by telling me "no" instead of "sure, but no bonus UR points"?
Aug 29, 2017, 11:33 am
#29
Join Date: Jan 2003
Posts: 3,785
This would really hurt if people decided to transfer all UR points to Freedom or Freedom Unlimited and cancelled the CSR thinking they could just wait to apply for CSP..... and then Chase rolled out their rumored no UR points transfer from free card to paid card... Now all your points are locked at $0.01/point forever...
Aug 29, 2017, 12:02 pm
#30
Join Date: Sep 2015
Location: SFO
Posts: 3,879
This would really hurt if people decided to transfer all UR points to Freedom or Freedom Unlimited and cancelled the CSR thinking they could just wait to apply for CSP..... and then Chase rolled out their rumored no UR points transfer from free card to paid card... Now all your points are locked at $0.01/point forever...
