Sep 2, 2017, 7:31 pm
Last edit by: kerrigjl
In 2017, at the first renewal of the 2016 Chase Sapphire Reserve card,* no retention offers have been forthcoming. It appears that Chase is not offering retention bonuses on this card at this time, and will cancel the card at the cardholders request without further ado.
*A retention offer has been reported (though it's minimal): https://www.flyertalk.com/forum/28917524-post376.html
Posts 333 and 327 discuss a fee credit issued by Chase when cancelling the card. These have been called both "Annual Fee Refund" and "Membership Fee Credit."
This thread discusses the timing of both cancelling and product changing (downgrading to Sapphire Preferred) in order to 1) Keep from paying the $450 annual fee, and 2) possibly get a 2018 $300 travel credit before cancelling.
The rules changed for the travel credit on cards issued in May 2017, making the travel credit a calendar year issuance rather than a Dec statement to Dec Statement issuance.
The nuances discussed within this thread include changing your billing date, fees posting on the 1st of the month, and the 30 day window to cancel/60 day window to product change.
09/03/17 - 72k spend, no offer.
09/03/17 - 30k spend, no offer.
09/04/17 - 25k spend, no offer.
09/05/17 - 10k spend, no offer.
09/06/17 - 24k spend, no offer.
09/06/17 - Maybe 4-5K spend. No offer, closed.
09/06/17 - Spend unspecified, no offer.
09/07/17 - 10k spend, no offer.
09/12/17 - 15k annual spend, no offer, downgraded to Chase Freedom to preserve cl
09/18/17 - No offer.
09/22/17 - 25k spend, no offer.
09/29/17 - 17k spend, no offer.
10/02/17 - 64k spend, no offer.
10/10/17 - 16.5k, 2,500 point offer, declined.
10/13/17 - 165k, no offer.
10/13/17- No offer. ~$25k
10/21/17 - No offer, maybe $10k spend, transferred CL, cancelled.
03/02/18 - No offer, ~$13.5k spend
*A retention offer has been reported (though it's minimal): https://www.flyertalk.com/forum/28917524-post376.html
Posts 333 and 327 discuss a fee credit issued by Chase when cancelling the card. These have been called both "Annual Fee Refund" and "Membership Fee Credit."
This thread discusses the timing of both cancelling and product changing (downgrading to Sapphire Preferred) in order to 1) Keep from paying the $450 annual fee, and 2) possibly get a 2018 $300 travel credit before cancelling.
The rules changed for the travel credit on cards issued in May 2017, making the travel credit a calendar year issuance rather than a Dec statement to Dec Statement issuance.
The nuances discussed within this thread include changing your billing date, fees posting on the 1st of the month, and the 30 day window to cancel/60 day window to product change.
09/03/17 - 72k spend, no offer.
09/03/17 - 30k spend, no offer.
09/04/17 - 25k spend, no offer.
09/05/17 - 10k spend, no offer.
09/06/17 - 24k spend, no offer.
09/06/17 - Maybe 4-5K spend. No offer, closed.
09/06/17 - Spend unspecified, no offer.
09/07/17 - 10k spend, no offer.
09/12/17 - 15k annual spend, no offer, downgraded to Chase Freedom to preserve cl
09/18/17 - No offer.
09/22/17 - 25k spend, no offer.
09/29/17 - 17k spend, no offer.
10/02/17 - 64k spend, no offer.
10/10/17 - 16.5k, 2,500 point offer, declined.
10/13/17 - 165k, no offer.
10/13/17- No offer. ~$25k
10/21/17 - No offer, maybe $10k spend, transferred CL, cancelled.
03/02/18 - No offer, ~$13.5k spend
Chase Sapphire Reserve: Renewal & Retention
Sep 14, 2017, 7:18 am
#211
Join Date: Mar 2009
Location: PHX
Programs: HHonors Lifetime Diamond, UA Million Miler Gold, Marriott Platinum
Posts: 1,142
Sep 14, 2017, 7:50 am
#212
Join Date: Nov 2014
Location: NYC
Posts: 557
Freedom Unlimited gives 1.5 points per dollar spent on regular spend. If you redeem those points by transferring to the CSR and spending in the travel center, they are equivalent to 2.25% cashback on unbonused spend.
Sep 14, 2017, 8:28 am
#213
FlyerTalk Evangelist
Join Date: Sep 2006
Location: Toledo, OH
Programs: Delta DM & MM, Hilton DM, Marriott gold, Hyatt Globalist, Alaska 75K, Wyndham Diamond,
Posts: 15,399
Does the Unimilited allow you to transfer points???? I asked about transferring my points from my regular Chase freedom (I only use it for the bonus categories) to my CSR poitn balance and was told it wasn't allowed. Was this a situation where I was told wrong by the chase rep and I should HUCA?
Sep 14, 2017, 8:34 am
#214
FlyerTalk Evangelist
Join Date: Jul 2008
Location: IAH
Programs: DL DM, Hyatt Ist-iest, Stariott Platinum, Hilton Diamond
Posts: 12,795
Does the Unimilited allow you to transfer points???? I asked about transferring my points from my regular Chase freedom (I only use it for the bonus categories) to my CSR poitn balance and was told it wasn't allowed. Was this a situation where I was told wrong by the chase rep and I should HUCA?
Sep 14, 2017, 8:47 am
#215
FlyerTalk Evangelist
Join Date: Sep 2006
Location: Toledo, OH
Programs: Delta DM & MM, Hilton DM, Marriott gold, Hyatt Globalist, Alaska 75K, Wyndham Diamond,
Posts: 15,399
Pretty good deal, it's like getting 7.5 percent back on restaurant purchases this month. Hopefully Kohl's will be a q4 partner again this year and Kohl's will carry the apple watch 3. I really want one and if I can get 7.5% back plus the Kohl's rewards points that would help lessen the sting of the price tag.
Sep 14, 2017, 8:48 am
#216
Join Date: Sep 2011
Programs: Virgin Atlantic Silver, IHG Diamond, Bonvoy Gold, Hilton Diamond, AA Platinum Pro
Posts: 1,386
Does the Unimilited allow you to transfer points???? I asked about transferring my points from my regular Chase freedom (I only use it for the bonus categories) to my CSR poitn balance and was told it wasn't allowed. Was this a situation where I was told wrong by the chase rep and I should HUCA?
Sep 14, 2017, 9:24 am
#217
Join Date: Apr 2016
Location: DFW
Posts: 675
Does the Unimilited allow you to transfer points???? I asked about transferring my points from my regular Chase freedom (I only use it for the bonus categories) to my CSR poitn balance and was told it wasn't allowed. Was this a situation where I was told wrong by the chase rep and I should HUCA?
Sep 14, 2017, 9:35 am
#218
FlyerTalk Evangelist
Join Date: Sep 2006
Location: Toledo, OH
Programs: Delta DM & MM, Hilton DM, Marriott gold, Hyatt Globalist, Alaska 75K, Wyndham Diamond,
Posts: 15,399
I was having some problems doing it online and called chase last month and was told you couldn't transfer from the Freedom to another card. I figured out how to do it finally this morning.
Sep 14, 2017, 9:55 am
#219
Join Date: May 2012
Location: HNL
Programs: AS MVPG, HA Plat
Posts: 1,268
Sep 14, 2017, 10:16 am
#220
FlyerTalk Evangelist
Join Date: Sep 2006
Location: Toledo, OH
Programs: Delta DM & MM, Hilton DM, Marriott gold, Hyatt Globalist, Alaska 75K, Wyndham Diamond,
Posts: 15,399
Exactly my point. And you're one of the ones that Chase would be happy to lose. I'd have to include myself also. With the exception of the first $4,000 needed for the sign up bonus, 99% of all my spend thereafter has been in 3x bonus categories. Mostly restaurants since a lot of my travel is booked using points. Since restaurants are a bonus category for the Freedom this quarter, my CSR has seen very little spend lately.
I think Chase underestimated the intelligence of most of the people who signed up for the CSR. I suspect change is coming sooner rather than later.
I think Chase underestimated the intelligence of most of the people who signed up for the CSR. I suspect change is coming sooner rather than later.
I don't think most credit card users are nearly as savy as the typical flyertalk credit card user though.
Sep 14, 2017, 11:27 am
#221
Join Date: Sep 2011
Programs: Virgin Atlantic Silver, IHG Diamond, Bonvoy Gold, Hilton Diamond, AA Platinum Pro
Posts: 1,386
This. We here do not represent the general population. Just think of how many people fall into the various buckets of consumer: cash only, poor credit, no credit, the uninterested, the unpatient, those wealthy enough to not be concerned about it, those that were misled by someone who claimed to understand how miles/points work, etc.
Sep 14, 2017, 12:11 pm
#222
Join Date: Nov 2015
Location: St. Louis, MO
Programs: Southwest Companion Pass
Posts: 790
This. We here do not represent the general population. Just think of how many people fall into the various buckets of consumer: cash only, poor credit, no credit, the uninterested, the unpatient, those wealthy enough to not be concerned about it, those that were misled by someone who claimed to understand how miles/points work, etc.
JustJust think about it. When the CSR was first released it was so popular Chase approved more applicants in the first two weeks than it expected to approve in the first year. All this with absolutely no advertising. This means the majority of people who received this card heard about it from travel blogs. People who read travel blogs are a little more knowledgeable than the general population.
Last edited by Critterlynn; Sep 14, 2017 at 12:17 pm
Sep 14, 2017, 12:15 pm
#223
FlyerTalk Evangelist
Join Date: Sep 2006
Location: Toledo, OH
Programs: Delta DM & MM, Hilton DM, Marriott gold, Hyatt Globalist, Alaska 75K, Wyndham Diamond,
Posts: 15,399
This. We here do not represent the general population. Just think of how many people fall into the various buckets of consumer: cash only, poor credit, no credit, the uninterested, the unpatient, those wealthy enough to not be concerned about it, those that were misled by someone who claimed to understand how miles/points work, etc.
If you are going to carry a balance you are a lot better off with a no-rewards card with a low interest rate or a card that has interesting free financing for x months than a high interest card with rewards. The additional interest is costing them a lot more than what the miles/rewards are worth.
The thing that really amazes me is when I read stories of how the number one thing tax refunds are being used for is to pay down credit card debt. These people should be decreasing their tax withholding and using the money to pay down their credit card debt during the year instead of giving the IRS an interest free loan while paying double digit interest rates to the credit card companies.
Last edited by jamesteroh; Sep 14, 2017 at 1:25 pm
Sep 14, 2017, 12:48 pm
#224
Join Date: Jan 2015
Programs: Marriott Titanium and LTP, Hilton Gold, United Silver
Posts: 786
As a CPA something that amazes me is the credit card behavior of people who carry balances. If I were forced to carry a balance I would be going with the lowest fee card and paying it off ASAP.
If you are going to carry a balance you are a lot better off with a no-rewards card with a low interest rate or a card that has interesting free financing for x months than a high interest card with rewards. The additional interest is costing them a lot more than what the miles/rewards are worth.
The thing that really amazes me is when I read stories of how the number one thing tax returns are being used for is to pay down credit card debt. These people should be decreasing their tax withholding and using the money to pay down their credit card debt during the year instead of giving the IRS an interest free loan while paying double digit interest rates to the credit card companies.
If you are going to carry a balance you are a lot better off with a no-rewards card with a low interest rate or a card that has interesting free financing for x months than a high interest card with rewards. The additional interest is costing them a lot more than what the miles/rewards are worth.
The thing that really amazes me is when I read stories of how the number one thing tax returns are being used for is to pay down credit card debt. These people should be decreasing their tax withholding and using the money to pay down their credit card debt during the year instead of giving the IRS an interest free loan while paying double digit interest rates to the credit card companies.
Well,most people are not rational. Also, some may get fee-based cards and then later get into debt on them--which is what the bank wants, right? After all, That is why the limit Chase gives me on each of my fee cards so much higher than on the no-fee cards that have 0% intro balance transfer or purchase rates! Debt denial is a real thing for many people. Deny the debt or have some lofty goal that you will magically pay it off--so you don't have to product change your rewards card to one with no fee and low balance transfer rates! Burying your head in the sand is a common response.
Also, purposely not withholding enough from taxes can cause the IRS to assess a penalty if the amount not withheld is too great! As a CPA, you should know that.
Sep 14, 2017, 12:48 pm
#225
Join Date: Oct 2014
Location: PHL
Posts: 226
I'm a bit surprised to see how many folks here are downgrading or cancelling now instead of waiting until your December statement cuts and capturing some of next year's travel credit. This excellent article that pallhedge posted runs down the math.
Bottom line:
Bottom line:
With a little planning, you can get your entire $300 2018 credit before you downgrade your card at the end of December, 2017. For waiting, and ultimately paying only a portion of your annual fee, you get the FULL 2018 travel credit!