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Cancel Marriott Chase now or wait and "upgrade" card in May?

Cancel Marriott Chase now or wait and "upgrade" card in May?

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Old Aug 15, 18, 10:24 am   -   Wikipost
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Here's the link to see your upgrade offer:

https://www.chase.com/chasegreatrewards/catchall
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Old Apr 23, 18, 2:23 pm
  #1  
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Cancel Marriott Chase now or wait and "upgrade" card in May?

Hi all! I've been reading up on the new Marriott/SPG credit cards and am looking for advice on what to do to maximize points moving forward. I read that Chase will be offering a new Marriott Rewards Premier Plus Credit Card in May and that it's expected they'll offer 100,000 point sign on bonus to new card members. Current Marriott and Ritz cardholders will be offered an "upgrade incentive" to switch to the new card. I'm reading between the lines here that this "upgrade incentive" will be less than 100,000, but I can't seem to find anything concrete.

So, I've been a card holder for 3 years now. I've been thinking about canceling the card and renewing it anyhow to get the points bonus, but now I'm wondering if there's any chance the points offer for existing members will be better than the 100,000 point offer. What do you guys think? Cancel now and get the sign-up bonus for the new card in May or wait and see what the "upgrade incentive" is? I guess I'm partially worried if I wait I somehow won't be eligible for the 100,000 sign-on bonus. Thanks!
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Old Apr 23, 18, 6:14 pm
  #2  
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Originally Posted by viplan View Post
Hi all! I've been reading up on the new Marriott/SPG credit cards and am looking for advice on what to do to maximize points moving forward. I read that Chase will be offering a new Marriott Rewards Premier Plus Credit Card in May and that it's expected they'll offer 100,000 point sign on bonus to new card members. Current Marriott and Ritz cardholders will be offered an "upgrade incentive" to switch to the new card. I'm reading between the lines here that this "upgrade incentive" will be less than 100,000, but I can't seem to find anything concrete.

So, I've been a card holder for 3 years now. I've been thinking about canceling the card and renewing it anyhow to get the points bonus, but now I'm wondering if there's any chance the points offer for existing members will be better than the 100,000 point offer. What do you guys think? Cancel now and get the sign-up bonus for the new card in May or wait and see what the "upgrade incentive" is? I guess I'm partially worried if I wait I somehow won't be eligible for the 100,000 sign-on bonus. Thanks!
Welcome to FlyerTalk, viplan.

First of all, how many personal cards (from any banks) have you applied for in the past 24 months? If you're not familiar with it, Chase has a 5/24 policy which can keep you from getting most Chase cards if you have been applying for a lot of other cards. If you're well over 5/24, you may not be able to apply for a new Marriott card if you cancel the current one (but you would be able to upgrade if an upgrade was offered).

Second of all, I hope you don't care much about the 1 elite night for every $3000 in spend. Because that doesn't seem to be there on the new card. (And you won't be likely be able to apply for the current card again once you get the new card.)

Third, assuming you're under 5/24, Chase's rule on re-applying for the same card is that the previous card has to be closed and it has to have been over 2 years since you earned the signup bonus on the previous card. Since you've had the card for 3 years, all you'd have to is cancel to qualify for a signup bonus on the new card (assuming you're under 5/24).

Meanwhile, if you've not had the Marriott business card before, you are right this second qualified to apply for and earn the signup bonus on the Chase Marriott business card, which will not exist for much longer AFAIK. The Chase Marriott business card is not subject to 5/24 (plus, since it's business card, it doesn't increase your 5/24 count). And you don't have to have a business to apply for it, just give your name as the business name, your address as the business address, your phone as the business phone, 0 years in business, $0 business income, sole proprietorship, 0 (or 1 if they don't allow 0) employees, perhaps $1500 for expected monthly spend since somewhere around there is likely at least for the first few month when you're doing the minimum purchases requirement.

Btw, I think the business card currently and the new personal card in May both (will) require $5k spend in 90 days. So be prepared for that (in combination with anything else you might have that has a spend requirement).
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Old Apr 23, 18, 7:55 pm
  #3  
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Originally Posted by sdsearch View Post
Welcome to FlyerTalk, viplan.

First of all, how many personal cards (from any banks) have you applied for in the past 24 months? If you're not familiar with it, Chase has a 5/24 policy which can keep you from getting most Chase cards if you have been applying for a lot of other cards. If you're well over 5/24, you may not be able to apply for a new Marriott card if you cancel the current one (but you would be able to upgrade if an upgrade was offered).

Second of all, I hope you don't care much about the 1 elite night for every $3000 in spend. Because that doesn't seem to be there on the new card. (And you won't be likely be able to apply for the current card again once you get the new card.)

Third, assuming you're under 5/24, Chase's rule on re-applying for the same card is that the previous card has to be closed and it has to have been over 2 years since you earned the signup bonus on the previous card. Since you've had the card for 3 years, all you'd have to is cancel to qualify for a signup bonus on the new card (assuming you're under 5/24).

Meanwhile, if you've not had the Marriott business card before, you are right this second qualified to apply for and earn the signup bonus on the Chase Marriott business card, which will not exist for much longer AFAIK. The Chase Marriott business card is not subject to 5/24 (plus, since it's business card, it doesn't increase your 5/24 count). And you don't have to have a business to apply for it, just give your name as the business name, your address as the business address, your phone as the business phone, 0 years in business, $0 business income, sole proprietorship, 0 (or 1 if they don't allow 0) employees, perhaps $1500 for expected monthly spend since somewhere around there is likely at least for the first few month when you're doing the minimum purchases requirement.

Btw, I think the business card currently and the new personal card in May both (will) require $5k spend in 90 days. So be prepared for that (in combination with anything else you might have that has a spend requirement).
I'm definitely under the 5/24, probably at 0 in the last two years since I think Amex doesn't count. I shouldn't have any problem hitting the spend requirements with my travel for work (I pay out of pocket and get reimbursed). I do have the business card and will probably keep it for now. This bubbled up for me because I noticed I was about to hit Lifetime Gold in nights but am well short in points (480nts with just over 1M pts). I haven't been using the card much since I got it because I felt like I got more from other cards. I'm hoping to pickup the bonus again (probably should have done it a year ago) but just wasn't sure with all the changes coming when I should time things. I'm mostly wondering if anyone heard what the "upgrade incentive" might be or if they've ever seen something similar before? I was also wondering if I just cancel in May when the card comes out of they'll deny me the 100k pts because I didn't take the "upgrade incentive" (once again, more like has anyone seen that before).

Thanks for taking the time to reply!
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Old Apr 23, 18, 9:06 pm
  #4  
 
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Originally Posted by sdsearch View Post
Third, assuming you're under 5/24, Chase's rule on re-applying for the same card is that the previous card has to be closed and it has to have been over 2 years since you earned the signup bonus on the previous card. Since you've had the card for 3 years, all you'd have to is cancel to qualify for a signup bonus on the new card (assuming you're under 5/24).
So do we know for sure that the Premier Plus is considered the same card as the Premier for bonus purposes? I was looking at the Offer and Pricing details on this link, and I didn't notice a statement about not getting the bonus on this card if I got the bonus on a Premier card in the last 24 months. I'm just curious. Here is the link I am referring to

Marriott Premier Plus Visa
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Old Apr 24, 18, 12:00 am
  #5  
 
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Originally Posted by jeanie View Post
. I'm just curious. Here is the link I am referring to

Marriott Premier Plus Visa
The FAQ answers your question
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Old Apr 24, 18, 12:55 am
  #6  
 
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Originally Posted by sdsearch View Post
Welcome to FlyerTalk, viplan.

First of all, how many personal cards (from any banks) have you applied for in the past 24 months? If you're not familiar with it, Chase has a 5/24 policy which can keep you from getting most Chase cards if you have been applying for a lot of other cards. If you're well over 5/24, you may not be able to apply for a new Marriott card if you cancel the current one (but you would be able to upgrade if an upgrade was offered).

Second of all, I hope you don't care much about the 1 elite night for every $3000 in spend. Because that doesn't seem to be there on the new card. (And you won't be likely be able to apply for the current card again once you get the new card.)

Third, assuming you're under 5/24, Chase's rule on re-applying for the same card is that the previous card has to be closed and it has to have been over 2 years since you earned the signup bonus on the previous card. Since you've had the card for 3 years, all you'd have to is cancel to qualify for a signup bonus on the new card (assuming you're under 5/24).

Meanwhile, if you've not had the Marriott business card before, you are right this second qualified to apply for and earn the signup bonus on the Chase Marriott business card, which will not exist for much longer AFAIK. The Chase Marriott business card is not subject to 5/24 (plus, since it's business card, it doesn't increase your 5/24 count). And you don't have to have a business to apply for it, just give your name as the business name, your address as the business address, your phone as the business phone, 0 years in business, $0 business income, sole proprietorship, 0 (or 1 if they don't allow 0) employees, perhaps $1500 for expected monthly spend since somewhere around there is likely at least for the first few month when you're doing the minimum purchases requirement.

Btw, I think the business card currently and the new personal card in May both (will) require $5k spend in 90 days. So be prepared for that (in combination with anything else you might have that has a spend requirement).
So could one get the base card AND the business card and get bonus points (150k total) from both cards?
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Old Apr 24, 18, 10:13 am
  #7  
 
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Originally Posted by sdsearch View Post

Second of all, I hope you don't care much about the 1 elite night for every $3000 in spend. Because that doesn't seem to be there on the new card. (And you won't be likely be able to apply for the current card again once you get the new card.)

.
Very interesting. I am assuming that if I keep my existing card I will continue to receive that benefit, but as you noted, there is no mention of this with the new card. 100K points for the new card may not be as important to folks who need additional nights to hit their annual status level.
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Old Apr 24, 18, 10:23 am
  #8  
 
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Yes, I have read that the old Chase Marriott card will retain the 1 elite night credit for 3K spend.

A downside of keeping the old Chase Marriott card is that (excepting Marriott spend) it earns 1 Marriott point per dollar spent. The new card will earn 2 points per dollar. So on 3K spend, that is a 3K points difference. If you put a lot of spend on the card, this will add up quickly.

Another downside of the old card is that it may only award an annual "free night" certificate for a hotel up to 25K points. The new card will be for a hotel up to 35K points.

So overall, this is a balancing act. If Hamlet were a Flyertalker, he would be saying "To keep or upgrade, that is the question."

I have read rumors that Chase may have upgrade offers for existing Chase Marriott personal cardholders. But have to wait and see about that.
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Last edited by GetawaysRus; Apr 24, 18 at 4:20 pm
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Old Apr 24, 18, 11:33 am
  #9  
 
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I'm curious to see the incentive to switch. Earning points is more of a thing for me since I'm already Lifetime Plat (new lifetime PP), so the 1 night/$3k isn't a big deal. That said, given the fact I only use this card for Marriott/SPG purchases, it's not like it's going to be a big swing in points either way. I was also really bummed to see the new Amex luxury card offers the same earning as the Chase card....on top of that, so many of the other benefits (Priority Pass, Global Entry, etc.) are just overlaps with cards such as CSR. I was hoping for more.
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Old Apr 24, 18, 2:51 pm
  #10  
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Originally Posted by viplan View Post
I'm definitely under the 5/24, probably at 0 in the last two years since I think Amex doesn't count.
I'm not sure if you're counting correctly if you think Amex doesn't count. Chase 5/24 doesn't count pulls (inquiries). Chase looks at your credit report for all bank cards that show an "opened on" date in the past 24 months. It doesn't matter if you closed them. If they appear as accounts on your credit report and have an "opened on" date in the past 24 months, they count.

Amex stopped backdated in early 2015, so by now all Amex cards that were opened in the past 24 months have a true "opened on" date.

The only cards that routinely don't count are business cards, since most banks (with the main exceptions being Discover and Cap One) don't report their business cards to EX/EQ/TU as long as the account is "in good standing".

If you want to verify where you stand with respect to 5/24, the easiest way is to go to Check Your Credit Report & FICO ® Score Experian and sign up for the free report-only account (scroll down to see the free-forever version of the signup). Experian, unlike Credit Karma, lets you sort (both open and closed cards, which are listed separately) by "opened on" date, making it very to count. Just don't believe the "1" always being day of the month, that's a bug on the Experian website (where it shows, for example, "July 1" instead of either just "July" or the correct day in July).
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Old Apr 24, 18, 2:52 pm
  #11  
 
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Originally Posted by GetawaysRus View Post
Yes, I have read that the old Chase Marriott card will retain the 1 elite night credit for 3K spend.

A downside of keeping the old Chase Marriott card is that (excepting Marriott spend) it earns 1 Marriott point per dollar spent. The new card will earn 2 points per dollar. So on 3K spend, that is a 3K points difference. If you put a lot of spend on the card, this will add up quickly.

Another downside of the old card is that it may only award an annual "free night" certificate for a hotel up to 25K points. The new card will be for a hotel up to 35K points.

So overall, this is a balancing act. If Hamlet were a Flyertalker, he would be saying "To keep of upgrade, that is the question."

I have read rumors that Chase may have upgrade offers for existing Chase Marriott personal cardholders. But have to wait and see about that.
For me it's an easy choice. I use the card almost everyday and by getting the elite credit for each $3,000 spent I should get to 75 nights quickly. I'll stay with the card I have.

Last edited by Wisdom; Apr 24, 18 at 2:58 pm Reason: Added a thought.
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Old Apr 24, 18, 5:27 pm
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Originally Posted by jeanie View Post
So do we know for sure that the Premier Plus is considered the same card as the Premier for bonus purposes? I was looking at the Offer and Pricing details on this link, and I didn't notice a statement about not getting the bonus on this card if I got the bonus on a Premier card in the last 24 months. I'm just curious. Here is the link I am referring to

Marriott Premier Plus Visa
Originally Posted by mhdena View Post
The FAQ answers your question
I know on these Marriott merger posts that 90% of the discussion seems to be about people reading things differently. So I will add my opinion here. The FAQ states this:

Thank you for your cardmembership. Cardmembers can have either the Marriott Rewards Premier credit card or the Marriott Rewards Premier Plus credit card. We will be offering points to upgrade to the new Marriott Rewards® Premier Plus card. Check back on May 3rd.
I read this as specifically stating that the Premier Plus card and the Premier card are different products. I read it this way because they will be offering points to upgrade the Premier to the Premier Plus. If they were the same product, then an upgrade would not be needed or encouraged by Chase.

So I guess we will just have to wait to see the Terms and Conditions on May 3. Personally, I am very interested to see the terms of the upgrade offers referred to on the main landing page on this link. As I mentioned, it sounds like Chase wants people to voluntarily upgrade to the new Premier Plus. Depending on the upgrade options, it might be better to upgrade rather than opening the new card in order to avoid a new account counting towards 5/24.
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Old Apr 24, 18, 5:50 pm
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Likewise the Marriott Business card says new benefits coming in August, but doesn't say what those are.

It should give a 35K night like the new Premier card.
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Old Apr 24, 18, 9:31 pm
  #14  
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Pretty disappointing if its true that the new card doesn't have an elite night bonus after the $3k spend like the current one.

Also, if they offer an incentive for those holding the current premier card, it better be an upgrade that doesn't count as a card application against your credit report/score.
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Old Apr 25, 18, 7:19 am
  #15  
 
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Originally Posted by sdsearch View Post
Welcome to FlyerTalk, viplan.


Second of all, I hope you don't care much about the 1 elite night for every $3000 in spend. Because that doesn't seem to be there on the new card. (And you won't be likely be able to apply for the current card again once you get the new card.)
I actually don't see it on the T&C for the current premier card I have now, but know I get it. Wonder if they are doing away with it?
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