Aug 15, 2016, 12:49 pm
Last edit by: mia
Discussion continues HERE.
This card is under 5/24. You can override 5/24 by having an in-branch (only! online prequalification does NOT override 5/24) pre-approval, or by already being Chase Private Client (as in you see the "Chase Private Client" text on the login screen of the Chase mobile app.)
Landing page with bonus offer (100,000 UR after spending $4,000 in 90 days) is now live:
https://creditcards.chase.com/credit...04&IS2F=Y71UH0
Application page: https://applynow.chase.com/FlexAppWe...L3P&PROMO=DF01
100,000 UR points is worth $1,000 as statement credit, $1,500 when used for travel through the Chase portal, or potentially more if transferred to a partner.
Card features are here:https://www.chase.com/card-benefits/...reserve/travel. The card's Priority Pass includes unlimited guests.
Schumer box on 8/15/2016:
https://applynow.chase.com/FlexAppWe...g.do?card=FL3P
Chase Sapphire Reserve Ultimate Rewards Program Agreement
https://chaseonline.chase.com/resources/RPA0511_Web.pdf
Chase Sapphire Reserve Guide to Benefits
https://www.chasebenefits.com/sapphirereserve
The purchases made that you receive the $300 travel credit (or $85/$100 trusted traveler program credits) for do count towards the minimum spend, but the annual fee does not.
The card is made of the same material as the CSP, and is being shipped UPS Next Day Air Saver to everyone after production (currently (8/26) appears to have about a 3-day delay after approval before shipping.)
This card is under 5/24. You can override 5/24 by having an in-branch (only! online prequalification does NOT override 5/24) pre-approval, or by already being Chase Private Client (as in you see the "Chase Private Client" text on the login screen of the Chase mobile app.)
Landing page with bonus offer (100,000 UR after spending $4,000 in 90 days) is now live:
https://creditcards.chase.com/credit...04&IS2F=Y71UH0
Application page: https://applynow.chase.com/FlexAppWe...L3P&PROMO=DF01
100,000 UR points is worth $1,000 as statement credit, $1,500 when used for travel through the Chase portal, or potentially more if transferred to a partner.
Card features are here:https://www.chase.com/card-benefits/...reserve/travel. The card's Priority Pass includes unlimited guests.
Schumer box on 8/15/2016:
https://applynow.chase.com/FlexAppWe...g.do?card=FL3P
Chase Sapphire Reserve Ultimate Rewards Program Agreement
https://chaseonline.chase.com/resources/RPA0511_Web.pdf
Chase Sapphire Reserve Guide to Benefits
https://www.chasebenefits.com/sapphirereserve
The purchases made that you receive the $300 travel credit (or $85/$100 trusted traveler program credits) for do count towards the minimum spend, but the annual fee does not.
The card is made of the same material as the CSP, and is being shipped UPS Next Day Air Saver to everyone after production (currently (8/26) appears to have about a 3-day delay after approval before shipping.)
New Chase Sapphire Reserve Card [Pre-release speculation]
Aug 19, 2016, 4:13 pm
#781
Join Date: Mar 2013
Location: EWR
Programs: World of Hyatt, Marriott Bonvoy, Hilton Honors, UA Mileage Plus
Posts: 1,255
Let's take the numbers:
You need to make up $55 dollars in annual fees after accounting for the $300 credit.
If you spend $2750 on your CSP you will earn 5500 points with a min value of $0.0125 each netting you $68.75 of value.
Spending the same $2750 on your CSR will now earn you 8250 points at a minimum redemption value of $0.015 each earning you $123.75 of value--exactly $55 more than the CSP. Everything after that is gravy.
This cards perks will not last long IMO.
Anybody who has the CSP (and is getting value net the annual fee) should get the CSR.
Aug 19, 2016, 4:44 pm
#782
Join Date: Feb 2016
Posts: 292
As far as usage of credit card fee rebates and privileges:
On the one hand, we all know of friends and family who recognize the benefits of a card, get it, and use the benefits for a bit of time, and then forget, their patterns change, the card changes, and the person is just too inertial to get over the hump of getting a new card, moving over the automated charges, setting it up with a new bank account, learning a new online statement format, etc. Credit card providers know that customers are sticky in this regard (like changing cell companies or insurance carriers or TV providers).
On the other hand, good benefits on good cards typically erode. The CSP lost it's 7% rebate, it's extra first Friday points, etc. Prestige is losing some lounge, changing the 4th night, no golf, etc. Platinum has been decimated in tons of ways. So that says that these providers are paying attention, and that enough customers are using the benefits to cost them real money. If the benefit users were only a small percentage of the customer base, they wouldn't bother changing the benefits because they could amortize the costs over the whole base including the non-users.
So I surmise from this that the average customer (from us super-users to those who use virtually no benefits) is costing these companies real money.
On the one hand, we all know of friends and family who recognize the benefits of a card, get it, and use the benefits for a bit of time, and then forget, their patterns change, the card changes, and the person is just too inertial to get over the hump of getting a new card, moving over the automated charges, setting it up with a new bank account, learning a new online statement format, etc. Credit card providers know that customers are sticky in this regard (like changing cell companies or insurance carriers or TV providers).
On the other hand, good benefits on good cards typically erode. The CSP lost it's 7% rebate, it's extra first Friday points, etc. Prestige is losing some lounge, changing the 4th night, no golf, etc. Platinum has been decimated in tons of ways. So that says that these providers are paying attention, and that enough customers are using the benefits to cost them real money. If the benefit users were only a small percentage of the customer base, they wouldn't bother changing the benefits because they could amortize the costs over the whole base including the non-users.
So I surmise from this that the average customer (from us super-users to those who use virtually no benefits) is costing these companies real money.
Of course, yes, sometimes that corresponds with super generous cards being used by too many people, or abused, or both, but I think sometimes it's just the company being greedy. Either way, it's a pattern for sure.
Aug 19, 2016, 5:06 pm
#783
Join Date: May 2016
Posts: 5
How to get out of the CSP?
I have the chase freedom, freedom unlimited , and Csp. Obv want the CSR now. I've heard people can downgrade from the CSP to Freedom cards, but what if you already have them? Do I just have to cancel the CSP and thus hurt my credit ?
Aug 19, 2016, 5:41 pm
#785
Join Date: Jul 2011
Location: SF Bay Area
Programs: UA MileagePlus (Premier Gold); Hilton HHonors (Gold); Chase Ultimate Rewards; Amex Plat
Posts: 6,667
Unless your CSP is one of your oldest cards, it's not going to hurt your credit. May even help if you get a new account off the records because it's dragging down your average account age.
Aug 19, 2016, 6:00 pm
#786
Join Date: Mar 2014
Posts: 24
Well, seems like a YMMV type of thing. Personally, I could definitely see keeping it beyond the first year for the $300 travel credit and the 3X spending for travel and dining, especially since the Citi Prestige is losing its AA lounge access perk and UR offers better travel partners for me than TY and Amex. Also, the alternative option of getting the expensive AA Citi card that includes lounge access is going away since Citi is about to limit access to cards within the same affiliate families of cc's (e.g., AA, Hilton) unless you wait for two years (I know I'm not stating it quite correctly, but it's something like that).
Given the $450 price and since Chase is making this an appealing card that's supposed to compete with other high-end cards, I'm hoping that the 5/24 rule will be waived on the theory that lots of folks are like me and will hold onto it. But I should know better than to hope for such favors from the cc gods...
Given the $450 price and since Chase is making this an appealing card that's supposed to compete with other high-end cards, I'm hoping that the 5/24 rule will be waived on the theory that lots of folks are like me and will hold onto it. But I should know better than to hope for such favors from the cc gods...
Unless you're referring to an older product no longer offered?
Aug 19, 2016, 6:04 pm
#787
Join Date: Oct 2010
Location: Santa Barbara, CA
Posts: 1,277
Well, seems like a YMMV type of thing. Personally, I could definitely see keeping it beyond the first year for the $300 travel credit and the 3X spending for travel and dining, especially since the Citi Prestige is losing its AA lounge access perk and UR offers better travel partners for me than TY and Amex. Also, the alternative option of getting the expensive AA Citi card that includes lounge access is going away since Citi is about to limit access to cards within the same affiliate families of cc's (e.g., AA, Hilton) unless you wait for two years (I know I'm not stating it quite correctly, but it's something like that).
Given the $450 price and since Chase is making this an appealing card that's supposed to compete with other high-end cards, I'm hoping that the 5/24 rule will be waived on the theory that lots of folks are like me and will hold onto it. But I should know better than to hope for such favors from the cc gods...
Given the $450 price and since Chase is making this an appealing card that's supposed to compete with other high-end cards, I'm hoping that the 5/24 rule will be waived on the theory that lots of folks are like me and will hold onto it. But I should know better than to hope for such favors from the cc gods...
Aug 19, 2016, 6:10 pm
#788
Join Date: Nov 2014
Location: NYC
Posts: 581
It won't help with FICO scores because closed accounts are included in the Average Age of Accounts.
Aug 19, 2016, 6:16 pm
#789
Join Date: Jul 2011
Location: SF Bay Area
Programs: UA MileagePlus (Premier Gold); Hilton HHonors (Gold); Chase Ultimate Rewards; Amex Plat
Posts: 6,667
Aug 19, 2016, 7:26 pm
#792
Join Date: Mar 2014
Posts: 24
Aug 19, 2016, 7:32 pm
#793
FlyerTalk Evangelist
Join Date: Mar 2013
Programs: DL PM, MR Titanium/LTP, Hilton Diamond
Posts: 10,130
I think it's basically a case of "why should we keep the benefits?". Once you have a customer base, you can slowly chip away benefits until you see that people are no longer renewing the card. It's typical bean counters trying to squeeze out as much profit as possible. Cards start out generous and get less generous over time as companies want more profit.
Of course, yes, sometimes that corresponds with super generous cards being used by too many people, or abused, or both, but I think sometimes it's just the company being greedy. Either way, it's a pattern for sure.
Of course, yes, sometimes that corresponds with super generous cards being used by too many people, or abused, or both, but I think sometimes it's just the company being greedy. Either way, it's a pattern for sure.
http://www.jeffsetter.com/citi-customer-acquisition/
Aug 19, 2016, 8:02 pm
#794
Join Date: May 2012
Location: Michigan
Programs: UA Plat Marriott Gold Hyatt Diamond
Posts: 197
Assets in a brokerage account count toward your $250k CPC total too, as do actively managed Chase funds (which, let's face it, is what Chase really wants you to do with your money).
Well presumably you wouldn't tell the advisor your true plans until after you were approved for and received the card.
Well presumably you wouldn't tell the advisor your true plans until after you were approved for and received the card.
You do realize their are costs to close a brokerage account right?
Aug 19, 2016, 9:32 pm
#795
Join Date: Jul 2011
Location: SF Bay Area
Programs: UA MileagePlus (Premier Gold); Hilton HHonors (Gold); Chase Ultimate Rewards; Amex Plat
Posts: 6,667