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
Aug 10, 2017, 7:51 am
#46
Join Date: Oct 2014
Location: PHL
Posts: 226
Aug 10, 2017, 8:07 am
#47
Join Date: Sep 2015
Location: flyover country
Posts: 2,435
Since than I always ooen a Chase card the first week of a month...
...
I actually had the AF billed on the 1st of the month - the very same date the card was approved, WITHOUT the card even show up online - it was until the card showed up online that I saw the AF was already billed. Of course I did not the card in hand until a week or more after that.
...
I actually had the AF billed on the 1st of the month - the very same date the card was approved, WITHOUT the card even show up online - it was until the card showed up online that I saw the AF was already billed. Of course I did not the card in hand until a week or more after that.
You and me both. I wish I knew how to replicate the anomaly.
Aug 10, 2017, 10:28 am
#48
Join Date: Feb 2017
Posts: 50
I don't think it's logical. It stands to reason that savvy people like the readers of this board hang out with other savvy people. There are a lot of unsavvy people in America.
Aug 10, 2017, 11:37 am
#49
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
Interesting reading here:
http://www.creditcards.com/credit-ca...stics-1276.php
At the end of 2015, proportion of accounts by usage pattern:
I think it's unrealistic to assume that only Transactors apply for rewards cards, even expensive rewards cards.
http://www.creditcards.com/credit-ca...stics-1276.php
Card issuers divide the world into two groups: "transactors" who use their cards for purchases and pay off the balances each month; and "revolvers" who carry balances on their cards, paying interest charges month to month. To pure transactors, the balances on their cards aren't really debts at all, since any purchases will be paid off before interest charges are applied.
- 42% Revolvers
- 30% Transactors
- 28% Dormant
I think it's unrealistic to assume that only Transactors apply for rewards cards, even expensive rewards cards.
Aug 10, 2017, 2:38 pm
#50
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,762
Interesting reading here:
http://www.creditcards.com/credit-ca...stics-1276.php
At the end of 2015, proportion of accounts by usage pattern:
I think it's unrealistic to assume that only Transactors apply for rewards cards, even expensive rewards cards.
http://www.creditcards.com/credit-ca...stics-1276.php
At the end of 2015, proportion of accounts by usage pattern:
- 42% Revolvers
- 30% Transactors
- 28% Dormant
I think it's unrealistic to assume that only Transactors apply for rewards cards, even expensive rewards cards.
Here is another generic TV reporting for you
http://abcnews.go.com/Business/wireS...-long-49114797
Here is an older article on creditcards.com
http://www.creditcards.com/credit-ca...cards-1277.php
And this jumps out in the article
Does it make sense to pay more?
To be sure, most people don’t need a high-dollar card. There are plenty of tiers of cards:
No-fee plain-vanilla without rewards.
Cards that offer simple, straightforward rewards and no fee.
Cards with annual fees in the $50 to $100 range.
Last edited by Happy; Aug 10, 2017 at 2:48 pm
Aug 11, 2017, 10:40 am
#51
Join Date: Jan 2017
Posts: 286
10/01 ANNUAL MEMBERSHIP FEE 450.00
The only possible reason I can think of is that my statement closes on the 1st/2nd of each month, so maybe for some reason my first statement, which closed on 9/1/16, was too early for the fee to be triggered? Then after that it's just exactly 1 year from when the previous year's fee was charged?
Aug 11, 2017, 11:46 am
#52
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Platinum
Posts: 15,507
Chase might use unfavorable (for the cardholder) exchange rates but I don't think they're actually charging a FTF, especially for a card that they advertise as not having one. I could be missing something, however.
Aug 11, 2017, 12:18 pm
#53
Join Date: Apr 2005
Location: ATL
Posts: 802
Someone please correct me if I am wrong.
Aug 11, 2017, 12:43 pm
#54
FlyerTalk Evangelist
Join Date: Jan 2014
Location: San Diego, CA
Programs: GE, Marriott Platinum
Posts: 15,507
I was under the impression that Chase supposedly passes it on via a less favorable exchange rate (vs. having a separate line item on statements), but I could very well be wrong on that. I'll have to search around a bit and read other posts about it.
Aug 11, 2017, 1:10 pm
#55
Join Date: Jun 2008
Location: BAY AREA
Posts: 1,125
I just PCd change my CSR to chase freedom. When I put in a request for PC, they gave me an option to switch to CSU or CF. I chose CF cause I already have CSU and ink plus. I transferred 18k from CSR to ink plus before the product change.
Aug 11, 2017, 1:50 pm
#56
Join Date: Sep 2015
Location: SFO
Posts: 3,881
Sapphire Reserve Year in Review. Received post card with summary of what I've earned and saved this past year. Nice big numbers but unfortunately, those numbers will drop significantly next year (still tbd if I retain card).
Aug 11, 2017, 7:16 pm
#57
Join Date: Mar 2009
Location: PHX
Programs: HHonors Lifetime Diamond, UA Million Miler Gold, Marriott Platinum
Posts: 1,142
Can you download this report online or did they hard copy mail it?
Aug 11, 2017, 7:36 pm
#58
Join Date: Apr 2012
Location: SFO
Programs: AS MVP Gold 75K, UA Gold, Marriott LTT, Avis President's Club
Posts: 1,539
Aug 11, 2017, 7:54 pm
#59
Join Date: Nov 2010
Location: Traveling some where hopefully
Programs: AS, AA Gold, and Hilton
Posts: 1,954
Aug 11, 2017, 8:48 pm
#60
Join Date: Aug 2007
Location: Truth or Consequences, NM
Programs: HH Diamond, Marriott Titanium, Hertz President's Circle, UA Silver, Mobile Passport Unobtanium
Posts: 6,193