Chase Sapphire Reserve: Renewal & Retention

Mar 24, 18, 10:22 am - Wikipost

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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

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Feb 16, 18, 6:09 am

#601

pallhedge

Join Date: Sep 2011

Posts: 1,841

Quote:

Originally Posted by bostonbali

Hoping to get the expert's advice with my situation. Our AF came due on our CSR (spouse's) and CSP (conversion from a Fairmont card). Figured it's time to consolidate some of our UR-generating cards. Here is as summary of our cards:
Me

Chase Freedom (not Freedom unlimited), $0 AF
Chase Ink Business Plus, $95 AF
Chase Sapphire Preferred (conversion from Fairmont card), $95 AF billed 2/1

Spouse

Chase Sapphire Reserve (2018 $300 Travel Credit already redeemed, $450 AF billed 2/1)

A few other relevant points:

Combined UR balance = 880K points
I am well over 5/24. My spouse is under 5/24
Would like to preserve the ability to transfer UR points to airlines/hotels
Don't need the Priority Pass that comes with CSR, as one of us (me) already has that with Citi Prestige AND Amex Plat
I like getting GC's and prepaid cards (when on sale) at office supply stores using Ink 5x

Which cards should I keep/downgrade/close?

Thanks,
Bostonbali

Ink Cash for no-annual-fee can get you the same 5x in the same categories as Ink Plus. That leaves CSP and CSR to decide between. Going forward, basically a $55 difference in AF between the 2 cards factoring in the travel credit.

One way to decide: Given your large amount of UR points, if you ever use the UR portal to redeem points for travel, you may want to consider keeping CSR and downgrading CSP. Redeeming only 22k UR for travel using CSR's portal at 1.5 cpp vs CSP's portal at 1.25 cpp makes up the entire $55.

Another way to decide is to look at your annual dining/travel expenses. The extra UR received for using CSR for those purchases might be worth the extra $55 to keep it.

Hope this helps.

MDtR-Chicago, Diplomatico and jjmiller69 like this.

Feb 23, 18, 1:21 pm

#602

bostonbali

Join Date: Mar 2004

Location: SEA (previous locations: DTW, TLV, EWR, BOS)

Programs: AS: 75K; DL/NW: Plat; DL SC: Lifetime; Hyatt: Diamond; HH: Gold; SPG: Plat;

Posts: 3,351

Planning on upgrading my CSP to CSR. Just to confirm, no the trick to get the $300 Travel Credit this calendar year, and $300 travel credit next calendar year (then cancel/downgrade) should still work, correct?

Feb 23, 18, 4:18 pm

#603

Diplomatico

Join Date: Aug 2007

Location: Truth or Consequences, NM

Programs: HH Diamond, Marriott Titanium, Hertz President's Circle, UA Silver, Mobile Passport Unobtanium

Posts: 6,073

Quote:

Originally Posted by bostonbali

The CSR travel credit now operates on a cardmember year, not calendar year. You can still double dip the travel credit but the timing is different.

Feb 25, 18, 12:32 pm

#604

lkar

Join Date: Nov 2007

Location: PHX

Posts: 4,643

Quote:

Originally Posted by frudd38

Any data points of the annual fee being prorated?

Worked for us. Annual fee hit in October. Received $300 reimbursement in January. PC to Freedom in February and got $260 of the annual fee back. So, $190 for a $300 travel credit, essentially. Not bad — better than an outright cancel. Worked like pointsyak suggested.

pallhedge likes this.

Mar 2, 18, 5:01 pm

#605

kerrigjl

Join Date: Mar 2015

Location: CLE -> BNA

Programs: IHG Spire Ambassador, Hyatt Explorist, Hilton Gold, Bonvoy Titanium, UA Silver, RR A-List

Posts: 310

$13530.86 spend, no retention offer. Kept card due to benefits.

Mar 2, 18, 8:37 pm

#606

hamburglar

Join Date: Jun 2009

Location: Oakland, CA

Posts: 1,198

Annual spend 14568, no retention offer

Mar 2, 18, 8:55 pm

#607

hamburglar

Join Date: Jun 2009

Location: Oakland, CA

Posts: 1,198

Is there any reason for my wife to keep the card if I have it? If we always travel together, seems like only one card is enough?

Also, if she has Freedom Unlimited points, do I need to transfer them to my UR before cancelling them? I'm trying to get the 5x bonus categories before March 31 (which is when her Reserve needs to be cancelled)

Thanks.

Mar 3, 18, 6:34 am

#608

mia

A FlyerTalk Posting Legend; Moderator: American Express, Capital One, Citi, Chase, Credit Card Programs, Diners Club, Signatures

Join Date: Jun 2003

Location: Miami, Mpls & London

Programs: AA & Marriott Perpetual Platinum; DL & HH Gold

Posts: 45,197

Quote:

Originally Posted by hamburglar

Also, if she has Freedom Unlimited points, do I need to transfer them to my UR before cancelling them? I'm trying to get the 5x bonus categories before March 31 ....

Freedom is the card which offers 5 points per dollar in rotating categories.

Freedom Unlimited is the card which earns 1.5 points per dollar on all spending, no bonuses.

Moving points from one UR account to another is called Combining (not Transferring). If your wife has any points in her Sapphire Reserve account those need to be moved before she closes the card. Points in her Freedom or Freedom Unlimited accounts can be Combined with your Sapphire Reserve account at any time:

Combine UR points from multiple card accounts [Consolidated]

Problems Combining UR points between accounts

Mar 9, 18, 5:08 pm

#609

halamadrid

Join Date: Apr 2014

Posts: 514

Quote:

Originally Posted by lkar

About how long did it take from PC to the prorated refund. Did you have to ask for it or did it just happen? Thanks.

Mar 10, 18, 6:01 am

#610

pallhedge

Join Date: Sep 2011

Posts: 1,841

Quote:

Originally Posted by halamadrid

About how long did it take from PC to the prorated refund. Did you have to ask for it or did it just happen? Thanks.

I've seen refunds take anywhere from 2 days to 2+ weeks. Thankfully, it is automatic since the phone reps usually don't know the policy.

Mar 10, 18, 8:15 am

#611

serpens

Join Date: Sep 2015

Location: flyover country

Posts: 1,743

Quote:

Originally Posted by halamadrid

About how long did it take from PC to the prorated refund. Did you have to ask for it or did it just happen? Thanks.

It just happened, and was on the account page on the web site the next time I logged it. I didn't pay attention, but I think it posted within a day or two.

Mar 10, 18, 7:33 pm

#612

halamadrid

Join Date: Apr 2014

Posts: 514

Thanks. I'm just wondering b/c I did the PC about a week ago and still do not see the refund. If it's normal for it to take a week or two then I'll just wait, but I was wondering if I needed to call.

Mar 11, 18, 5:26 pm

#613

lkar

Join Date: Nov 2007

Location: PHX

Posts: 4,643

Quote:

Originally Posted by halamadrid

About how long did it take from PC to the prorated refund. Did you have to ask for it or did it just happen? Thanks.

A week or so I think. Automatic.

Mar 12, 18, 11:16 pm

#614

halamadrid

Join Date: Apr 2014

Posts: 514

Quote:

Originally Posted by pallhedge

I've seen refunds take anywhere from 2 days to 2+ weeks. Thankfully, it is automatic since the phone reps usually don't know the policy.

Quote:

Originally Posted by serpens

It just happened, and was on the account page on the web site the next time I logged it. I didn't pay attention, but I think it posted within a day or two.

Quote:

Originally Posted by lkar

A week or so I think. Automatic.

Thanks. The prorated refund showed up today. I'm really happy overall as I've been able to take advantage of having the extra Freedom card as I'd maxed out the category spend for my original Freedom and it looks like I'll max this one as well before the quarter ends.