Chase Sapphire Reserve: Renewal & Retention

    Hide Wikipost
Old Mar 24, 18, 10:22 am   -   Wikipost
Please read: This is a community-maintained wiki post containing the most important information from this thread. You may edit the Wiki once you have been on FT for 90 days and have made 90 posts.
 
Last edit by: kerrigjl
Wiki Link
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
Print Wikipost

Closed Thread

Old Nov 21, 17, 6:24 am
  #511  
 
Join Date: Sep 2011
Posts: 1,141
Originally Posted by chunky649 View Post
I just read this entire thread, and the nice write up at Pointsyak. Some questions:

I was approved last November some time. First billing date was Dec 6 2016. My first annual fee appeared on Dec 1.
Also noteworthy is that I had the CSP and Freedom card. Both cancelled. I'm way over 5/24 limit. I have other Chase cc and checking account. My UR points balance is under 500 points now. (Transferred out)

1. Based on the info here, I should see the $450 AF on Dec 1. I have until Jan 6 to cancel and get a full refund. (Jan 1 would be safer). Or, I have until Feb 6 to change to Freedom or FU. So essentially, I have ~1 month to trigger my $300 travel credit before cancellation or 2 months if I downgrade. Is that correct?
2. Do I have to call to downgrade? Previously, I've always cancelled by SM. Perhaps I will call them anyway, on the off chance that I might get the AF waived...
3. Since I've had the Freedom before, do I still 'qualify' for the downgrade to a Freedom? Also, will this affect my 5/24 count? Will it affect my ability to apply and gain any signup offers (for Freedom or Freedom Unlimited) in the near future?
4. Does the Priority Pass membership 'expire' immediately after cancellation? Or do I get a free year since the membership card would be mailed to me before my cancellation? I don't plan on using it much, but it is nice to pop in and grab a water if one was on the way. I'd hate to get a $50 charge or get denied entry when they swipe the membership card...
1. December and January both have 31 days, so Jan 5 and Feb 4 are your 30 and 60 from statement date. Dec 31 and Jan 30 would be your "safer" dates. I recommend staying inside the safe dates if you want your AF refund to be automatic and without a fight.
2. You can downgrade via SM.
3. You can have multiple Freedoms via product changes. This has no effect on 5/24 and no effect on your credit report/score. If you downgrade CSR to Freedom, you will need to PC the Freedom to something else if you want to apply and get the Freedom bonus.
pallhedge is offline  
Old Nov 30, 17, 11:40 am
  #512  
 
Join Date: Dec 2004
Posts: 6,824
Originally Posted by zzrayzz View Post
You heard it here first guys!

Chase Friend told me that Chase plans to grandfather the CSR... will be removing the product by end of the month or possibly next month... no official end date...
What does your friend say now?
Diplomatico likes this.
rrgg is offline  
Old Nov 30, 17, 2:35 pm
  #513  
 
Join Date: Jul 2017
Posts: 30
Originally Posted by rrgg View Post
What does your friend say now?
When he said, "product," he meant his friend at Chase.
Diplomatico likes this.
soojin is offline  
Old Nov 30, 17, 3:33 pm
  #514  
 
Join Date: May 2013
Posts: 339
Originally Posted by soojin View Post
When he said, "product," he meant his friend at Chase.
no, that would be a “tool”.
Diplomatico likes this.
flyershmlyer is offline  
Old Nov 30, 17, 5:24 pm
  #515  
mia
FlyerTalk Evangelist, Moderator: American Express, Citi, Diners Club, Signatures
 
Join Date: Jun 2003
Location: Miami & London
Programs: AA & Marriott Perpetual Platinum; HH Gold
Posts: 37,903
Originally Posted by rrgg View Post
What does your friend say now?
I think the friend misunderstood the forthcoming change which was this:

https://www.flyertalk.com/forum/chas...hire-card.html

The timeframe is right, and customers who already held more than one Sapphire product are able to continue (grandfathered).
mia is online now  
Old Nov 30, 17, 5:36 pm
  #516  
FlyerTalk Evangelist
 
Join Date: Jul 2003
Location: Florida
Posts: 27,066
Originally Posted by rrgg View Post
What does your friend say now?
You know the post quoted was dd Aug 7th, right?

Chase then has the internal memo issued on Aug 27 about ONLY ONE card in the Sapphire family is allowed... So that was what the "Chase friend" told him...

Originally Posted by mia View Post
I think the friend misunderstood the forthcoming change which was this:

https://www.flyertalk.com/forum/chas...hire-card.html

The timeframe is right, and customers who already held more than one Sapphire product are able to continue (grandfathered).
Exactly.
Happy is offline  
Old Dec 1, 17, 1:39 pm
  #517  
 
Join Date: Jul 2010
Location: 718
Programs: Hyatt Diamond, Hilton Diamond, SPG Gold, IHG Platinum
Posts: 600
Forgive me my dear FT'ers! Tough to predict exactly what happens with rumors but whoever had heeded my "warning" are now better off than they would have been if they had not!

Next prediction: Go buy some BTC >
zzrayzz is offline  
Old Dec 1, 17, 1:46 pm
  #518  
 
Join Date: May 2017
Programs: avis, national, jetblue, delta, marriot
Posts: 18
My statement closes 12/3. I plan to call and cancel the card mid December after i use some of the 2018 travel credit. I will update after i speak with a rep to see if i get an offer or AF credit. I switched to the Ameriprise Amex Plat recently and am enjoying the benefits better anyway.
jessebrown30 is offline  
Old Dec 1, 17, 3:15 pm
  #519  
 
Join Date: Nov 2007
Location: PHX
Programs: US CP; AA LTG; HH Dia; SPG Plat; Marriott Gold
Posts: 4,328
Just a small data point for those who paid the annual fee a few months ago and are waiting for December's statement to close, with the expectation of getting the travel credit and then product changing to get some of the annual fee back.

A few months ago, we had a Fairmont Card that changed to a CSP. Right after the conversion, we product changed to Freedom. It was within 60 days of the annual fee having posted. It took forever to get the annual fee refunded. First, we were told we had to wait 2 billing cycles to see if it showed up. Then we had to wait nearly another month -- they said it was 2 months from the close of the billing statement after our first billing statement to the changed product. Then, once we got to that point, we were told they would look into it and that it would take 10 to 14 business days to research. We got the credit about 8 or so days later.

No idea if people who product change the CSR will have to wait the same amount of time for a rebate, and, hopefully, it will prorate as of the date that you product change even if it takes several months for the prorated rebate to apply. Hopefully, the datapoints on this strategy will start rolling in, and hopefully my experience was unusual with the CSP, but I guess be prepared to have to chase down the prorated fee for a while.
lkar is offline  
Old Dec 1, 17, 10:07 pm
  #520  
Hilton Contributor Badge
 
Join Date: Jul 2008
Location: NYC
Programs: DL Gold, Hilton Diamond, Starriott Platinum, Hyatt FreeBottleofWaterist
Posts: 7,852
Originally Posted by zzrayzz View Post
Forgive me my dear FT'ers! Tough to predict exactly what happens with rumors but whoever had heeded my "warning" are now better off than they would have been if they had not!

Next prediction: Go buy some BTC >
I presume you also have some ocean front land in Arizona to sell, right?
krazykanuck is online now  
Old Dec 2, 17, 10:53 am
  #521  
 
Join Date: Aug 2007
Location: Truth or Consequences, NM
Programs: HH Gold, Marriott Titanium, UA Silver, Mobile Passport Unobtanium
Posts: 4,839
Originally Posted by zzrayzz View Post
Forgive me my dear FT'ers! Tough to predict exactly what happens with rumors but whoever had heeded my "warning" are now better off than they would have been if they had not!

Next prediction: Go buy some BTC >
Because.......?
Diplomatico is offline  
Old Dec 2, 17, 11:48 am
  #522  
FlyerTalk Evangelist
 
Join Date: Jul 2003
Location: Florida
Posts: 27,066
Originally Posted by lkar View Post
Just a small data point for those who paid the annual fee a few months ago and are waiting for December's statement to close, with the expectation of getting the travel credit and then product changing to get some of the annual fee back.

A few months ago, we had a Fairmont Card that changed to a CSP. Right after the conversion, we product changed to Freedom. It was within 60 days of the annual fee having posted. It took forever to get the annual fee refunded. First, we were told we had to wait 2 billing cycles to see if it showed up. Then we had to wait nearly another month -- they said it was 2 months from the close of the billing statement after our first billing statement to the changed product. Then, once we got to that point, we were told they would look into it and that it would take 10 to 14 business days to research. We got the credit about 8 or so days later.

No idea if people who product change the CSR will have to wait the same amount of time for a rebate, and, hopefully, it will prorate as of the date that you product change even if it takes several months for the prorated rebate to apply. Hopefully, the datapoints on this strategy will start rolling in, and hopefully my experience was unusual with the CSP, but I guess be prepared to have to chase down the prorated fee for a while.
Sounds like this is a manual process and it is a PITA for the cardholders to keep close tab on. Those who plan to do their triple dips should thank you for posting this valuable data. so they can be better prepared, as like, it is not a walk on the cake thing...
Happy is offline  
Old Dec 2, 17, 12:16 pm
  #523  
 
Join Date: Nov 2007
Location: PHX
Programs: US CP; AA LTG; HH Dia; SPG Plat; Marriott Gold
Posts: 4,328
Originally Posted by Happy View Post
Sounds like this is a manual process and it is a PITA for the cardholders to keep close tab on. Those who plan to do their triple dips should thank you for posting this valuable data. so they can be better prepared, as like, it is not a walk on the cake thing...
Yup, we'll see. Maybe it's the conversion from a Fairmont that caused my problem but I really can't be sure. Should be some data points rolling in soon.
lkar is offline  
Old Dec 2, 17, 8:51 pm
  #524  
 
Join Date: May 2017
Programs: avis, national, jetblue, delta, marriot
Posts: 18
My AF hit my account 12/1 and my statement closes 12/3. Has anYone had an issue with using the travel credit for 2018 and then cancelling card?
jessebrown30 is offline  
Old Dec 3, 17, 7:30 am
  #525  
 
Join Date: Sep 2011
Posts: 1,141
Originally Posted by jessebrown30 View Post
My AF hit my account 12/1 and my statement closes 12/3. Has anYone had an issue with using the travel credit for 2018 and then cancelling card?
It's too early in the month for any success stories. In another week, we should start seeing some data points. The earliest possible and most aggressive scenario would be:

12/1 statement date
12/2 purchase $300 in travel
12/3 travel purchase and travel credit posts
12/4 cancel card then wait for AF refund
jjmiller69 likes this.
pallhedge is offline  

Thread Tools
Search this Thread