Originally Posted by
Rare
No, I did the math. I currently have a CSP and was planning to keep it long term for its benefits (particularly the primary collision insurance and ability to transfer points 1:1 to airline partners). Given that, I only had to justify the $55 net difference between the annual fees of the two cards. I reviewed my spending history for the past 10 years and found that most years I exceeded $5500 in travel expenses, so even if UR points were worth only 1 cent each, I would still come out ahead with the CSR. If I occasionally don't, the signup bonus will more than make up for it.
The other benefits of the CSR will be nice to have, also. I doubt I will use them often, but glad to know they're there if I need them.
My only wish at this point was for the CSR to earn 1.5 points per dollar on "other" expenses, so that I could use just the one card almost all of the time. When I get the CSR, I'll PC the CSP to a FU to get the 1.5X. (Whew, crazy alphabet soup!)
Of course I wouldn't mind if they add even more and better benefits, but as it is it makes sense for me.
Good point. After some discussion last week when the leaked links came out, I want to share some of the calculations:
In order for you to keep your CSP, you will need to spend:
95/0.0125/2 = 3800USD in travel and dinning.
For CSR:
150/0.015/3 = 3333.33USD in travel and dinning.
I am valuing the UR as its minimum value, that is 1.25cpp with CSP and 1.5cpp for CSR. And I am also valuing the 300 airline credit in full value, which drop the annual fee for CSR to 150 (450 - 300).
This means:
1) If you can spend more than 3333.33 each year in travel and dinning, the annual fee from CSR pay itself off.
2) If you originally was planning to keep CSP, getting CSR is actually even better for you. (even disregarding any other perks from CSR).
Sure, if we include some other cards, this would definitely change the equation on whether CSR is a good card to keep, but I think this at least shows that CSR > CSP.
-Pete