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Chase survey regarding possible changes when combining points.

Chase survey regarding possible changes when combining points.

Old Jul 18, 17, 8:28 pm
  #46  
 
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Originally Posted by mia View Post
The cards discussed have no annual fees. I realize you are thinking about the card which receives the points, but the change would be made to the terms of the cards that send the points and those are free.
I just googled Chase Sapphire Reserve rewards program and this is the language copied directly from a PDF file specifically for the Reserve:


Combine points with other Chase cards with Ultimate Rewards • You can move your points, but only to another Chase card with Ultimate Rewards belonging to you or one member of your household. • Go to chase.com/ultimaterewards, call the number on the back of your card or visit a Chase branch to move your points. • You can’t move points to another eligible card if either account is prohibited from earning or using points at the time you attempt to move the points. Transfer points to frequent travel programs
Being able to transfer points is a benefit of having a premium card, not the other way around. Of course there is nothing in this language that states it has to be a 1/1 transfer.

Last edited by Critterlynn; Jul 18, 17 at 8:49 pm
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Old Jul 18, 17, 9:04 pm
  #47  
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Is this just mere co-incidence or what?

2 of the most active bloggers and the Chase card "salesmen" are pimping the CSP today...

http://onemileatatime.boardingarea.c...red-best-card/

http://viewfromthewing.boardingarea....ed-card-years/

So we have a survey, and then this sudden push of the CSP, at the time about the first anniversary of the CSR is coming up (and many cardholders would need to decide whether they want to keep it or to can it...)

What say you?
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Old Jul 18, 17, 10:55 pm
  #48  
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Originally Posted by Happy View Post
The Investment banking and Commercial banking, together they are bigger than the Consumer banking in JP Morgan's business model.

In house Trading of Equities and Fixed Income contribute a significant amount of earnings.

The latest quarter just reported, Net Income was $7 Billions.

In comparison, the consumer and community banking unit, JPMorgan's largest business division that operates Chase Bank, reported $11.4 billion in revenue, flat from a year ago.
The unit's net income was $2.2 billion

So, Chase bank's Net Income which is from all activities including business loans, mortgages, credit cards, etc etc, is 28% of the Total Net Income. I dont bother to dig up the number from CC out of the $2.2 billion. Needless to say, it contributes far less than the investment banking and trading activities. That is where the top tier banks make the bulk of their profit.
Another apple and orange. I focus on annual data while you pick on a quarter.

This is why we can never in agreement on this.

Originally Posted by Happy View Post
What say you?
CSP is not a bad card. IMO, CSP has been a better card over CSR.

CSR is attractive merely on the 100K bonus.
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Old Jul 19, 17, 4:25 am
  #49  
 
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Originally Posted by Happy View Post
2 of the most active bloggers and the Chase card "salesmen" are pimping the CSP today...

http://onemileatatime.boardingarea.c...red-best-card/

http://viewfromthewing.boardingarea....ed-card-years/

So we have a survey, and then this sudden push of the CSP, at the time about the first anniversary of the CSR is coming up (and many cardholders would need to decide whether they want to keep it or to can it...)

What say you?
Surprised that they're promoting the CSP rather than the CSR at a time when Chase needs CSR renewals, not downgrades to the CSP.
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Old Jul 19, 17, 9:09 am
  #50  
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Originally Posted by UpperNWGuy View Post
Surprised that they're promoting the CSP rather than the CSR at a time when Chase needs CSR renewals, not downgrades to the CSP.
They do it because its easier to get referral point for CSP signups?

Easier for everyone in fact as its an easier card to sell the benefits, no 1st year fee at the top of the list.
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Old Jul 19, 17, 11:22 am
  #51  
 
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Originally Posted by garykung View Post
Another apple and orange. I focus on annual data while you pick on a quarter.

This is why we can never in agreement on this.



CSP is not a bad card. IMO, CSP has been a better card over CSR.

CSR is attractive merely on the 100K bonus.
Honestly, I think you can probably argue for either one effectively. But if you're dealing with numbers and data, the CSR is the better card, imo. The additional $55 AF would merely require one annual 20k UR redemption in order to come out ahead. That's not even taking into account 3x on travel and dining, PP, GE, etc. (although I will admit the last 2 are very much valued by each person differently).
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Old Jul 19, 17, 12:08 pm
  #52  
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Originally Posted by garykung View Post
Another apple and orange. I focus on annual data while you pick on a quarter.

This is why we can never in agreement on this.
Go back, even in the bad time the investment banking and commercial banking sides of the business have been much bigger contributors than the consumer banking which CC is only part of the whole consumer banking business.

What you have missed is, you only look at the Chase banks data but you are talking about JP Morgan the whole corporation.

I give the latest quarter's info just to show how things are - no business entities would suddenly jump such HIGH percentage in one quarter to surpass the other business entity in the same corporation.

Read even more carefully on the Year to Year, comparison of EACH business entity, you will see the Growth rates of all entities are pretty much the same as in previous year's same quarter and the year before that.

In fact the investment side suffers a big decline on the Trading of Fixed Income vehicle. And it still surplus the consumer side.

If you claim CC is an important contributor of the Consumer banking, well it is probably OK, but definitely NOT nearly as important as the investment and commercial banking when you are talking about JP Margon as a whole.

I am just trying to give out more accurate information though it would bore others but it would correct the misleading statements you made.

Originally Posted by garykung View Post

CSP is not a bad card. IMO, CSP has been a better card over CSR.

CSR is attractive merely on the 100K bonus.
This I actually agree 100% and have been my argument for a long time, especially to those who claim CSR only has a net $55 AF over CSP which has the first year free benefit that CSR doesn't. So the first year of CSP actually is $245 cheaper, and there are many household can rotate the card among 2 to 3 or even more household members. CSP also does not charge AF of having an AU versus CSR charges $75, right?
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Old Jul 19, 17, 12:09 pm
  #53  
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Originally Posted by mhdena View Post
They do it because its easier to get referral point for CSP signups?

Easier for everyone in fact as its an easier card to sell the benefits, no 1st year fee at the top of the list.
Or to get the CSR holders to downgrade to CSP so Chase still gets to keep the bulk of the new market share acquired thru the CSR.
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Old Jul 21, 17, 1:46 am
  #54  
 
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Originally Posted by Happy View Post
Or to get the CSR holders to downgrade to CSP so Chase still gets to keep the bulk of the new market share acquired thru the CSR.
Would have to wait until after the first year is up to do that because of the CARD Act since the annual fee terms change with the PC... Most people are cancelling before the 2nd annual fee hits, so Chase would still be losing an account.
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Old Jul 21, 17, 9:01 am
  #55  
 
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For those stating they are trying to cut losses, here's an article from July 18th that states otherwise:

https://www.fool.com/investing/2017/...pmorgan-c.aspx
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Old Jul 21, 17, 2:23 pm
  #56  
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Originally Posted by mikesyr18 View Post
Would have to wait until after the first year is up to do that because of the CARD Act since the annual fee terms change with the PC... Most people are cancelling before the 2nd annual fee hits, so Chase would still be losing an account.
You have 30 days from the statement date to cancel the card and get the AF reversed. That is plenty of time for the cardholder to decide what to do.
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Old Jul 21, 17, 2:30 pm
  #57  
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Originally Posted by Magic Pickles View Post
For those stating they are trying to cut losses, here's an article from July 18th that states otherwise:

https://www.fool.com/investing/2017/...pmorgan-c.aspx
Right in this Fool article, here it is:

>>The benefits to JPMorgan Chase have been twofold. In the first case, the Chase Sapphire Reserve card has helped the bank grow its core loan portfolio, as the loans underlying credit card balances are held by banks. On top of this, as Lake noted on the call, the customers that are attracted to the card "are extraordinarily good customers. Their characteristic, their engagement, their spend, these are the customers that everybody wants to acquire. We now have them and we intend to deepen relationships with them."<<

Just how many new CSR owners would start using Chase as their primary loan provider, such as mortgages, small business, and corporation loans, from this "deepened relationship'?

>>There is, however, one thing to keep in mind. The tangible impact from these cards won't be fully felt on the bottom line by JPMorgan Chase until later. Because of the high cost of acquiring these customers, it takes years before the relationships fully season from a financial perspective. As CEO Jamie Dimon shared on the bank's conference call, the acquisition costs are expensed over 12 months, but the benefits come over seven years.<<

If I am the institution shareholders, I would NOT be happy to know that Chase has miscalculated the acquisition cost so poorly that it would take 7 years to break even.... All the spin is how Chase could cultivate the "desirable" customers so to establish deeper relationship that leads to loans and private client (investment) business... So far this remains to be seen and really is a "Pie in the Sky" thing.
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Old Jul 21, 17, 3:42 pm
  #58  
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Originally Posted by Happy View Post
Right in this Foo

If I am the institution shareholders, I would NOT be happy to know that Chase has miscalculated the acquisition cost so poorly that it would take 7 years to break even.... All the spin is how Chase could cultivate the "desirable" customers so to establish deeper relationship that leads to loans and private client (investment) business... So far this remains to be seen and really is a "Pie in the Sky" thing.
The way things sound 7 years was being bigly optimistic
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Old Jul 21, 17, 6:26 pm
  #59  
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I actually prefer the CSR over the CSP. In my first year, already banked the global entry credit, blew through the travel credit in a week, and have used that PP membership more times than I can even count. For a first year effective annual fee of $50 and a second year of effective $150, worth every penny. I thought I would cancel this card but with all the perks it gives me for my high travel volumes, this card is a keeper and it will be my co-primary card along with my Amex Hilton Surpass card. If this card added Gas stations and grocery stores to bonus categories, it would easily become my #1 card.
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Old Jul 22, 17, 8:40 am
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Originally Posted by Happy View Post
Even for the 1.5% CapOne QuickSilver due to it has no Forex Fee and CapOne does not add any Visa network fee to the transaction unlike with all Chase so-called 0 Forex fee cards actually still incur 1% Visa Network fee built in the exchange rates.
wow, didn't know that the 1.5% CapOne QuickSilver did not have a 1% Visa network fee that is built into the exchange rates of other credit card issuers like Chase, Citibank, etc.

CaapOne has done a bad job of not publicizing their differentiator enough!
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