Citi will give you 3 points for travel, which translates to 4.5 HHonors points, while CSP will give you 2 points for Hyatt or Marriott. You can find more Hiltons everywhere than Marriott or Hyatt.
I like Hyatt though, because they have reasonable award chart.

hyatt :
the 45k signup => 1 top tier night + 1 mid tier night or 3x mid tier nights
csp travel dollars 15000 => 1 top tier night or 2 mid tier nights at 30000 pts
csp travel dollars 7500 => 1 mid tier nights at 15000 pts

marriott:
the 45k sign up => 1 top tier night
csp travel dollars 15000 => 1 mid tier at 30000 pts
csp travel dollars 7500 => 1 low tier night at 15000 pts
added value: 5th night free, 7 night + miles package

hhonors:
the 50k sign up => a possible top tier night at 75000 pts
citi premier travel dollars 15000 => just short of a possible top tier night at 68000 points
citi premier travel dollars 7500 => 1 mid tier night
added value : 5th night free

and the other thing I hate about hilton's program that makes hard for me to call reasonable is that so many properties are high tier that is an absolute rarity to get basic value out of even 30000 pts in the program while hyatts 30000 pts is top tier. So while that card makes it tolerable to earn hilton pts there are few other venues to earn the pts easily while hyatt pts can get you value pretty easily no matter how you earn them. And marriott's program isn't getting much better, but the chart is much more reasonable with the top tier at 45k pts. And there are more hiltons which is the main reason im even hilton silver, but its easy enough to find a marriott near a hilton in most areas and easier to find an affordable reward stay with marriott than with a hilton in most areas I've been to.

I have much better results when I use the points and cash offer. Yesterday, I had reservations for three stays totaling $1400. I replaced these reservations with cash and points and saved $782. The points I used costs me 2 cents each; since I received 51K points for $2K spend on Prestige and bought 61.2K points for $400. The 112,200 points replaced the $782 I saved. BTW each of the reservations made are at Cat 7 properties. I also am saving $159 plus tax on another reservation with my annual free night certificate.
As always, I understand every person's situation differs, therefore YMMV.

Hehe, I knew you would have something to say about this eaj. Are you saying you spent $400 with your welcome bonus to save a net $382 on 3 stays?

If so I really don't see how you don't see anything to be desired from that compared to the using a Hyatt redemption to save $600+ from its welcome bonus.

By the numbers at its lowest value redeeming the csp for hyatt points :
$450 value > $382, your savings at Hilton on 3 stays, - $105 annual fee difference less the airline credit.

And I'm not sure how the free night certificate factors into that and what it's good for and whether that came with your prestige.

I also don't think CSP is intended to compete with the prestige anyways as the annual fees are in different ballparks.

No CSP isn't meant to compete with Prestige. I agree with you about the value Hyatt offers as you describe. No, $400 has nothing to do with any welcome bonus. I didn't spend $400 to save any specific amount of money. I spent $400 to receive 60K points. I would never spend a lot of money to get HHonor points because of their terrible devaluation over the years.

Great discussion. I am currently debating this same "which card" issue. Planning on traveling and buying via bulk using a TA. Total about 20k. I think in my case the CSP makes the most sense as the large purchase is all travel related. Right?

Also, should I open another CSP for my DH as well? Perhaps we can split the fees and earn twice the signup bonus. Not sure if I would want to keep both moving forward after a year. Can points/rewards from one CSP be transferred to another?

I can now say that the CSP is a clear winner... I spent almost the same on both cards. With the Arrival I got 180,000 miles. Enough for $2,000. With the CSP I got 180,000 UR points, which I transfered to hyatt and I got 6 nights in a hotel of a total of $8,500...

Same thing with costumer service. CSP 1 second delay between calling and talking to a live rep. A+ takes several minutes.

Visa signature hotels > World elite hotels (more variety).

I value 1 UR point at 2cents. So its almost the same as using an Arrival + except that if you pay for travel related expenses or restaurants you could get twice or even triple the value. Also 2cents is just a fixed amount because I dont use my UR points unless I find value of at least 3 cents. I use it for avios short haul flights, SQ flights to Japan and Hyatt nights... There are even more ways to use them that I have not discover yet.

Another example:
Flight from MIA to CCS = $1,200
CSP= 20,000 UR points or Avios
A+= 120,000 Miles

A+ is plain cash that is never going to be more valuable.

Yes apply for 2 cards.

Ah nice to hear your input.

Glad to see I can get usage for short hauls as well. We do miami quite a bit from the northeast - looks like CSP will come in handy.

Will be applying for both of us for sure. You know which credit bureau chase pulls the reports from?

Chase always pulls experian but sometimes they will also pull TU

I'm curious how you spent 90,000 on both cards and got the same amount of "points?"

The arrival gives 2points per dollar anywhere, while CSP only gives the 2points for restaurants and "travel"

UR mall ;)

I wouldn't call that equivalent spend...

then what is it?

If you send 10,000 on one and 10,000 on another one, what is it?

I like my three Chase cards, but never had a card with access to UR mall. I like Barclays mall, found it better than the now defunct Amex MR mall and the Word points mall at BOA. I suppose the only way to compare UR mall to Barclays is to ask a friend who has UR mall access to show me. I could always pick up another Chase next year after my EX CR recovers from the latest apporama.

Yes. They pulled experian only. No TU.