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Which Chase cards are worth getting and keeping?

Which Chase cards are worth getting and keeping?

Old Aug 28, 18, 2:13 am
  #1  
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Which Chase cards are worth getting and keeping?

I'm currently at 1/24. My TU score is in the low 800s. I guess I have 4 other cards to get before I hit 5/24 so it's logical to consider Chase's portfolio first. Right now I actually have my eyes on the Citi Thank You Premier due to the 60k welcome bonus. After that, I'll focus my attention to Chase. After the CSR, what are the two other Chase cards that are worth applying and keeping? CSP if I can double dip and then the CIP? Is the CIP worth keeping now that Plastiq no longer qualifies for 3x? I just want to get this right due to Chase's 5/24 rule.

Thx.
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Old Aug 28, 18, 8:11 am
  #2  
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I suppose it depends on your goals. If you want to maximize UR points, then CSR and CFU are probably best - CSR for travel and dining (3 points/$), and CFU for everything else (1.5 points/$). Transfer the points from the CFU account to the CSR regularly.

If you're looking for airline or hotel perks, then look at those cards too.
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Old Aug 28, 18, 2:01 pm
  #3  
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Originally Posted by lsquare View Post
I'm currently at 1/24. My TU score is in the low 800s. I guess I have 4 other cards to get before I hit 5/24 so it's logical to consider Chase's portfolio first. Right now I actually have my eyes on the Citi Thank You Premier due to the 60k welcome bonus. After that, I'll focus my attention to Chase. After the CSR, what are the two other Chase cards that are worth applying and keeping? CSP if I can double dip and then the CIP? Is the CIP worth keeping now that Plastiq no longer qualifies for 3x? I just want to get this right due to Chase's 5/24 rule.
Thx.
It depends.

If you travel enough to make use of several free hotel nights a year, and don't limit yourself to "aspirational" hotels, then one card each in the three hotel programs might be the ones to keep, since the annual fee in years 2+ will be more than offset by the (capped) free night certificate in years 2+. (The first year you get the signup bonus points instead, and you may or may not get charged the annual fee, depending on time of year.) I call these cards "net negative" annual fee, since what you get from the card is more than the annual fee you pay (assuming you can use the free night cert every year). And why not keep a "net negative" annual fee card "forever"?

If you've not held a Marriott or SPG card "too recently", you might want to start with the Marriott Business card, since Chase business cards don't count toward 5/24, so it won't increase your 5/24 count. (There are no business cards for the other two hotel programs with "net negative" annual fee cards, IHG and Hyatt, but you may want to consider them anyway for the same reason. Though Hyatt has too small a "footprint" for some people.)

But you presumably have to be familiar with using hotel points to understand the concept of a free night capped at, say, 35000 Marriott points, and whether that would work for you.
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Old Aug 28, 18, 2:17 pm
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Originally Posted by sdsearch View Post
It depends.

If you travel enough to make use of several free hotel nights a year, and don't limit yourself to "aspirational" hotels, then one card each in the three hotel programs might be the ones to keep, since the annual fee in years 2+ will be more than offset by the (capped) free night certificate in years 2+. (The first year you get the signup bonus points instead, and you may or may not get charged the annual fee, depending on time of year.) I call these cards "net negative" annual fee, since what you get from the card is more than the annual fee you pay (assuming you can use the free night cert every year). And why not keep a "net negative" annual fee card "forever"?

If you've not held a Marriott or SPG card "too recently", you might want to start with the Marriott Business card, since Chase business cards don't count toward 5/24, so it won't increase your 5/24 count. (There are no business cards for the other two hotel programs with "net negative" annual fee cards, IHG and Hyatt, but you may want to consider them anyway for the same reason. Though Hyatt has too small a "footprint" for some people.)

But you presumably have to be familiar with using hotel points to understand the concept of a free night capped at, say, 35000 Marriott points, and whether that would work for you.
Thanks for the response. Doesn't CIP count towards 5/24? It's a biz card right?
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Old Aug 28, 18, 2:25 pm
  #5  
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Originally Posted by lsquare View Post
..... Doesn't CIP count towards 5/24? It's a biz card right?
Business card applications are subject to the 5 account limit, but Chase business card accounts do not increase your account total. In other words, you must be below 5/24 to be approved, but approval does not change the count.
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Old Aug 28, 18, 3:10 pm
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Originally Posted by mia View Post
Business card applications are subject to the 5 account limit, but Chase business card accounts do not increase your account total. In other words, you must be below 5/24 to be approved, but approval does not change the count.
Mia, so here's my situation. My income is $70k/year and I was recently approved for the AMEX BBP. I have read that biz cards are not reported so if I apply for Chase cards then my BBP shouldn't be present in my report right? There should be no possibility that Chase knows about this right?

Since I'm already at 1/24 and the more time I spend researching on Chase applications, the more I'm starting to think that I should go for an "easier" card. Some people suggest getting the Chase Ink Preferred. Then 3-4 months after generating some history with Chase, I'll apply for the CSR. What do you think of the CIP as a first Chase card and in light of my recent AMEX BBP application?
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Old Aug 28, 18, 3:47 pm
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Originally Posted by lsquare View Post
My income is $70k/year and I was recently approved for the AMEX BBP. I have read that biz cards are not reported so if I apply for Chase cards then my BBP shouldn't be present in my report right? There should be no possibility that Chase knows about this right?
To be specific, Chase evaluates 5/24 by going through your credit report and counting all cards (open and closed) showing there with an "opened on" date in the past 24 months.

The reason business cards from most banks don't count towards 5/24 is because business cards from most banks don't show up on personal (EQ/EX/TU) credit reports, as long as the account is kept "in good standing". There are exception banks though: Discover and Capital One both report their business cards to EQ/EX/TU, and so business cards from at least those two banks do count against 5/24.

The simplest way to evaluate your 5/24 is to sign up for a free account at Check Your Credit Report & FICO Score Experian. Experian's site (without having to use any tricks) lets you sort your accounts (open and closed in separate lists) by the open date (the rightmost column) and so it's easy to quickly spot the cards that were opened in the last 24 months that way. (Experian will urge you to sign up for a paid account, but decline and keep your free account. The paid account is not worth it for most people.)
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Old Aug 28, 18, 4:42 pm
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Originally Posted by sdsearch View Post
To be specific, Chase evaluates 5/24 by going through your credit report and counting all cards (open and closed) showing there with an "opened on" date in the past 24 months.

The reason business cards from most banks don't count towards 5/24 is because business cards from most banks don't show up on personal (EQ/EX/TU) credit reports, as long as the account is kept "in good standing". There are exception banks though: Discover and Capital One both report their business cards to EQ/EX/TU, and so business cards from at least those two banks do count against 5/24.

The simplest way to evaluate your 5/24 is to sign up for a free account at Check Your Credit Report & FICO Score Experian. Experian's site (without having to use any tricks) lets you sort your accounts (open and closed in separate lists) by the open date (the rightmost column) and so it's easy to quickly spot the cards that were opened in the last 24 months that way. (Experian will urge you to sign up for a paid account, but decline and keep your free account. The paid account is not worth it for most people.)
Thanks for the response. I'm just wondering for my first Chase card, should I just go for the CSR right away or get the CIP first and then build a bit of history with them before applying for the CSR? What should I do if I get declined by Chase? My score is already over 800.
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Old Aug 29, 18, 6:55 am
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Originally Posted by lsquare View Post
What should I do if I get declined by Chase? My score is already over 800.
Assuming your credit history is > 1 year old, I don't think you need to worry about this question right now.
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Old Aug 29, 18, 9:03 am
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Originally Posted by lsquare View Post
Thanks for the response. I'm just wondering for my first Chase card, should I just go for the CSR right away or get the CIP first and then build a bit of history with them before applying for the CSR? What should I do if I get declined by Chase? My score is already over 800.
I'm not sure why you seem so concerned about getting denied for the CSR. Your income and credit score are both well above what it takes to get this card. As pallhedge mentions, as long as you have a history of >1 year with any credit card on your report and you're under 5/24, I can all but assure you that you'll be approved. Chase likes approving people for this card because of the high annual fee, just like Amex likes approving people for the Platinum card. If I were you I'd double dip the CSR/CSP, assuming you can meet the combined min spend requirement.
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Old Aug 29, 18, 10:34 am
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Originally Posted by krazykanuck View Post
I'm not sure why you seem so concerned about getting denied for the CSR. Your income and credit score are both well above what it takes to get this card. As pallhedge mentions, as long as you have a history of >1 year with any credit card on your report and you're under 5/24, I can all but assure you that you'll be approved. Chase likes approving people for this card because of the high annual fee, just like Amex likes approving people for the Platinum card. If I were you I'd double dip the CSR/CSP, assuming you can meet the combined min spend requirement.
Looks like double dipping the csr and csp is dead: https://www.flyertalk.com/forum/30141548-post890.html
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Old Aug 29, 18, 1:05 pm
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Originally Posted by sdsearch View Post
To be specific, Chase evaluates 5/24 by going through your credit report and counting all cards (open and closed) showing there with an "opened on" date in the past 24 months.

The reason business cards from most banks don't count towards 5/24 is because business cards from most banks don't show up on personal (EQ/EX/TU) credit reports, as long as the account is kept "in good standing". There are exception banks though: Discover and Capital One both report their business cards to EQ/EX/TU, and so business cards from at least those two banks do count against 5/24.

The simplest way to evaluate your 5/24 is to sign up for a free account at Check Your Credit Report & FICO Score Experian. Experian's site (without having to use any tricks) lets you sort your accounts (open and closed in separate lists) by the open date (the rightmost column) and so it's easy to quickly spot the cards that were opened in the last 24 months that way. (Experian will urge you to sign up for a paid account, but decline and keep your free account. The paid account is not worth it for most people.)
Doesn't Chase look at other factors beside just 5/24? Such as number of hard inquires?
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Old Aug 29, 18, 3:43 pm
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Originally Posted by sdsearch View Post
It depends.

If you travel enough to make use of several free hotel nights a year, and don't limit yourself to "aspirational" hotels, then one card each in the three hotel programs might be the ones to keep, since the annual fee in years 2+ will be more than offset by the (capped) free night certificate in years 2+. (The first year you get the signup bonus points instead, and you may or may not get charged the annual fee, depending on time of year.) I call these cards "net negative" annual fee, since what you get from the card is more than the annual fee you pay (assuming you can use the free night cert every year). And why not keep a "net negative" annual fee card "forever"?

If you've not held a Marriott or SPG card "too recently", you might want to start with marriot business card since Chase business cards don't count toward 5/24, so it won't increase your 5/24 count. (There are no business cards for the other two hotel programs with "net negative" annual fee cards, IHG and Hyatt, but you may want to consider them anyway for the same reason. Though Hyatt has too small a "footprint" for some people.)

But you presumably have to be familiar with using hotel points to understand the concept of a free night capped at, say, 35000 Marriott points, and whether that would work for you.
Can you get the SPG-AMEX bonus on a personal card and then get the bonus on a Marriot Chase business card?
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Old Aug 30, 18, 7:09 am
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Originally Posted by vbnet View Post
Looks like double dipping the csr and csp is dead: https://www.flyertalk.com/forum/30141548-post890.html
No it isn't. The one-sapphire rule referred to in that post has been around for months. The double-dipping loophole still works.
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Old Aug 30, 18, 3:46 pm
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As far as keeping cards we used to only keep our INK(s) ( transfers to partners to extend mile/point expiration dates and 5 X) and IHG(s) as the $49 AF ( even with the new cap) is a great deal. We have had these cards open for years.

Since I heard of Chase closing accounts we decided to keep the Hyatt, Marriott and SW premier for at least one extra year as we normally would close these cards at ~ 11 months to avoid a 2nd AF.

The SW at $69 for 3k points is a loser as the points don't justify the AF but that's ok, all the Hotels provide a higher priced free annual night than the cost of AF.

Does it matter, who knows, but if I can break even and make Chase happy it works for me.
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