Originally Posted by
nnoll
@redtop43-
That is exactly what I'm asking.
You're correct in that the non-monetary benefits don't seem as much value of to me. When I have traveled, I travel light and frugally.
I will do some research on the Chase card. What you've put here seems reasonable, although I don't see myself putting $3K on the card. Although now I'm thinking that I could use the card for all of my expenses while over there (to get to the $3K threshold) and then just pay off a portion of the balance with the money that I saved (and would have spent anyway).
Good advice on when to book. Thanks!!
Another option is the Chase Freedom card. It offers points on the same rewards program redtop was mentioning, but that card has a 0% for 15 month offer, currently. It doesn't have quite the value (in terms of transferring points) that the CSP does, but it's a fantastic starter card. It has no annual fee, and would most likely be much easier to get than the Chase Sapphire Preferred.
Breakdowns of the cards:
Freedom- 0% APR for 15 months
- No annual fee
- $100 (10K points) cashback after $500 spend
- 5% bonus in rotating categories each quarter
Preferred- $95 annual fee
- $400 (40K points) cashback after $3K spend
- No foreign transaction fees (this could be a big one, depending how much you're planning to spend in Japan)
- 2x points on spend on dining and travel
Honestly, I work for Citibank, but I tell ALL my friends that their first CC should be the Chase Freedom. If you don't have the funds for the ticket, I'm assuming hitting a $3K spend requirement for the CSP bonus would be difficult, plus you'd be paying interest on that card, which is never a good idea. The Freedom gives you 15 months at 0% APR to pay off that ticket and other expenses.
The CSP is a fantastic card to have, but it does have some of the highest credit/income requirements of the cards Chase offers. If you are declined, that could mean needing to apply for another card, such as the Freedom, which would mean another credit pull on your report.
Also, any points that you earn on the Freedom can later be merged with the CSP points if you get that card in the future.