Chase Sapphire Reserve: Renewal & Retention

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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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Old Aug 5, 17, 2:54 pm
  #1  
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Chase Sapphire Reserve: Renewal & Retention

The Chase Sapphire Reserve (CSR) was issued for the first time in August 2016. It is now almost one year later, and therefore, members would be billed for the $450 annual fee.

Please use this "master" thread to report:
1) Fee waiver, or fee credits, whether partial or in full, if any
2) Ultimate reward "bonus" points as an incentive to continue membership by paying the fee
3) Techniques used with Chase's customer service to get #1 or #2 above
4) Reporting whether you decide to continue membership or cancel or downgrade the card to avoid paying the renewal $450 annual fee.

Last edited by mia; Aug 5, 17 at 3:39 pm Reason: Please click the (!) icon in the lower left corner of the post to communicate with moderators. It's more reliable.
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Old Aug 5, 17, 4:01 pm
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Maybe include how many URs you're sitting on? If you've got none, you have much less incentive to renew. If you have a hoard, they know you are unlikely to cancel.
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Old Aug 5, 17, 6:33 pm
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Originally Posted by josephstern View Post
If you've got none, you have much less incentive to renew. If you have a hoard, they know you are unlikely to cancel.
This suggests that someone with a partner who can receive points should transfer most points to the partner before calling.
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Old Aug 6, 17, 12:41 pm
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Originally Posted by josephstern View Post
Maybe include how many URs you're sitting on? If you've got none, you have much less incentive to renew. If you have a hoard, they know you are unlikely to cancel.
Or you have other cards that do Ultimate rewards, like the Chase Freedom card with no annual fee, or downgrade to CSP. Lots of options to keep your UR points without paying $450.

Neil
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Old Aug 6, 17, 1:36 pm
  #5  
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Originally Posted by josephstern View Post
Maybe include how many URs you're sitting on? If you've got none, you have much less incentive to renew. If you have a hoard, they know you are unlikely to cancel.
The rep generally only sees how many UR pts on that particular card's account (based on a failed retention call on InkPlus).

However I dont believe the phone reps even the supervisors can do anything if the system does not show any offer to your account. Chase reps seem to have very little discretionary power unlike the AMEX supervisors who can often give out courtesy points in the thousands even just for service issues such as a promised replacement card did not reach you in time due to AMEX SNAFU.

Originally Posted by missamo80 View Post
Or you have other cards that do Ultimate rewards, like the Chase Freedom card with no annual fee, or downgrade to CSP. Lots of options to keep your UR points without paying $450.

Neil
Agree. Other than a psychological need, many people do not really need to ALWAYS have a card that has transferrability. Not having it for a few months would not make any difference yet it may let you get a CSP with first year fee waived with sign up bonus again under the current known policy, just an easy example.

My bet is on no retention on this card. Chase only wants to keep those customers who do not mind the $450 because chances are, very very very low % of the CSR cardholders would carry a revolving balance - therefore the only income Chase gets without having to share with other parties would be the AF. The merchant fee is shared among network and processors, plus the reward would actually cost more than the intake of the merchant fee. It obviously cannot make money on those educated consumers.

Last edited by Happy; Aug 6, 17 at 1:41 pm
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Old Aug 6, 17, 1:55 pm
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I've always wondered how complex the bank calculation is for the value of me as a customer, and whether they can see it per product, as opposed to for the overall relationship.

For this product, I max out the $300 travel credit, I've used the Global Entry credit, I use the Priority Pass feature, I pretty much only use the card itself where I'll get 3x, and I never carry a balance or pay any fees other than the annual fee.

So, in those regards, I'm not a very profitable customer.

On the other hand, I have yet to redeem any of these UR points yet, so if they don't count the unused URs as a liability, I look pretty good.

But my guess is, when my call comes in, the bank's algorithm will show the operator that it's no biggie to lose my business.

I do have other Chase accounts that would help my profile a bit, but really not too much, frankly.
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Old Aug 6, 17, 2:26 pm
  #7  
mia
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Originally Posted by josephstern View Post
... if they don't count the unused URs as a liability....
They do:

...expense related to rewards programs are recorded when the rewards are earned by the customer....
https://www.sec.gov/Archives/edgar/d...86143e10vk.htm
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Old Aug 6, 17, 2:56 pm
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Originally Posted by josephstern View Post
I've always wondered how complex the bank calculation is for the value of me as a customer, and whether they can see it per product, as opposed to for the overall relationship.

For this product, I max out the $300 travel credit, I've used the Global Entry credit, I use the Priority Pass feature, I pretty much only use the card itself where I'll get 3x, and I never carry a balance or pay any fees other than the annual fee.

So, in those regards, I'm not a very profitable customer.

On the other hand, I have yet to redeem any of these UR points yet, so if they don't count the unused URs as a liability, I look pretty good.

But my guess is, when my call comes in, the bank's algorithm will show the operator that it's no biggie to lose my business.

I do have other Chase accounts that would help my profile a bit, but really not too much, frankly.
1) You are a cpstly customer, Chase cannot make a dime on you.

2) All unredeemed rewards be it generic points or specific airline miles, are accounted for per GAAP though nobody really knows the valuation mechanism on such.
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Old Aug 6, 17, 4:34 pm
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I'm planning on canceling the CSR and signing up for a CSP when my AF hits so I'll report back and see if they offer me anything.
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Old Aug 6, 17, 6:38 pm
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I understand that for financial results, the awards are accounted for.

My point was more about the info that goes into the retention formula.
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Old Aug 6, 17, 6:59 pm
  #11  
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Presumably any retention bonuses people get should go in the master thread for Chase retention bonuses: http://www.flyertalk.com/forum/chase...-present.html#
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Old Aug 6, 17, 9:10 pm
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I am planning on downgrading my card to something free. I already have an ink plus and freedom unlimited so I can use to transfer airline or hotel partners. I don't use the UR travel portal to book hotels since I never had any luck this year. Most of the rooms I tried booking weren't available on UR site but available directly with hotel. I already got notice of my annual fee coming up in my last statement in July.
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Old Aug 7, 17, 7:27 am
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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...
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Old Aug 7, 17, 7:48 am
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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...

Are the CSR profits that bad to remove it a year later?
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Old Aug 7, 17, 8:09 am
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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...
This sounds like a guerilla marketing effort to get as many people as possible to retain the card beyond the first year and pay the annual fee.
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