Chase Sapphire Credit Card

[Dovecote]

I am approaching the one year anniversary of having the Chase Sapphire credit card. Once the anniversary period is reached there will be a $95 yearly fee imposed. I would appreciate any feedback on whether it is a sound invest to continue using this card. Thanks in advance.

 

[Devil's Advocate]

Can you give us some idea of the total usage along with the percentage spent on bonus categories?

 

[Railroad Bill]

We recently paid our first annual fee for the CS card after calculating the advantages of using it as opposed to the regular Chase AGR Mastercard. Since we had many double points for restaurants and travel and appreciate the extra amenities of owning the card.. insurance for travel, no foreign transaction fees, etc. we found that the fee was more than offset by the extra points and service we received. But it is best, as DA suggested, to look at your expenditures and determine its value for your family.

 

[pennyk]

Another thing to consider is whether AGR will be dropping Chase for their AGR card and thus stop the transfer from Ultimate Rewards to Amtrak Guest Rewards. Right now, I think my Chase Sapphire Card is worth the fee. However, if, in the future, Ultimate Rewards will not be transferable to AGR, it probably will not be worth the fee to me.

 

[Railroad Bill]

Another thing to consider is whether AGR will be dropping Chase for their AGR card and thus stop the transfer from Ultimate Rewards to Amtrak Guest Rewards. Right now, I think my Chase Sapphire Card is worth the fee. However, if, in the future, Ultimate Rewards will not be transferable to AGR, it probably will not be worth the fee to me.

That is so correct. If Chase drops their relationship with AGR then we would definitely not continue with the CS card. The few hotel options for using the card and the fact that we do not fly would make the card pretty useless for us.

 

[Dovecote]

Can you give us some idea of the total usage along with the percentage spent on bonus categories?

I have earned approx 63k total points in eleven months which included the signup bonus which I cannot recall the amount. The bonus categories were minimal amounts. Dining was around 650 points and and travel around 1k in points.

 

[jtoddander]

If you cancel card, is it your intention to apply for some other reward card from Chase? If so, please be aware that about a month or so ago, Chase began to restrict issuing new cards to applicants with excessive credit card applications during prior two years. They do this regardless of FICO score and they are taking into considerations applications for any credit card and not just chase cards.

Some people churn through 10 or more cards per year and now find their access to new Chase sponsored cards is restricted.

I guess the point here is to also decide what would come after CSP card. As far as I know this restriction applies just to Chase

 

[Ryan]

Yes, this is just a Chase thing, and so far just their in house cards. Co-branded hotel and airlines cards haven't seen the change.

 

[Dovecote]

If you cancel card, is it your intention to apply for some other reward card from Chase? If so, please be aware that about a month or so ago, Chase began to restrict issuing new cards to applicants with excessive credit card applications during prior two years. They do this regardless of FICO score and they are taking into considerations applications for any credit card and not just chase cards.

Some people churn through 10 or more cards per year and now find their access to new Chase sponsored cards is restricted.

I guess the point here is to also decide what would come after CSP card. As far as I know this restriction applies just to Chase

No, not my intentions to use another reward card but that is good to know. I am not a fan of paying an annual fee to use a credit card hence my question.

 

[George K]

That is so correct. If Chase drops their relationship with AGR then we would definitely not continue with the CS card. The few hotel options for using the card and the fact that we do not fly would make the card pretty useless for us.

If that does happen, I assume that people who hold AGR and CSP cards will be given sufficient warning before the change goes into effect. I have a bucket of points parked at CSP that I can transfer to AGR, but I might find them useful elsewhere until I travel.

 

[Royal Blue]

We rented a car last month with the Chase Sapphire and took a rock to the windshield that resulted in a foot-long crack. We don't have a car so don't carry regular car insurance -- Chase Sapphire is one of the few cards that will act as primary insurance for rental cars. I called the number for the Chase collision damage folks, and they assured me that they did indeed cover windshield damage. They needed a pile of documentation, which I sent, but I'm optimistic that I will be seeing a reimbursement from them soon. If so, that's two years of annual fees.

 

[NW cannonball]

I'll pay the fee, as long as points transfer to AGR and United. If not, not.

@Royal Blue -- I also don't own a car, got a deer strike on Alamo rental car 3 years back. Whether primary or not, my USBank card paid 2600 to the car rental outfit for the damages, and negotiated a discount for the rental company's exaggerated "loss of use" claim.

Any decent card has "collision damage waiver" coverage, and -- well -- it worked for me.

Expect good coverage from Chase for these types of claims -- and be prepared to document, submit photos, and again.

If you have the evidence, they will cover you,

 

[alben]

Chase has thrown a wrench into the works. You cannot apply for any Chase branded cards if you have had 5 or more credit card applications in the past two years. So be aware that if you drop a Chase card, you may not be able to get another Chase branded card. It appears at the moment that this rule is for only cards that are branded solely by Chase. Co-branded cards (Chase + hotel or airline) don't seem to have this restriction (yet).

I have a Chase Ink with a $95 annual fee that I intend to keep. Chase Ink earns 5X on cable/internet/telephone. My monthly cable/internet/telephone expenses are $370/month, which nets me at least 22.2K Chase UR points per year just on those expenses alone.

The most value I have received from UR points is to transfer them to AGR points and get Roomette or Bedroom redemptions on long distance trains.

 

[jis]

I just got approved for the Chase Saphire Reserve Card with the 100,000 point reward attached provided I can find $4000 to spend in three months. Fortunately I can put a lot of my annual charitable donations on it In addition to many tax and other bills. So I might be able to make it by the deadline. I can now get rid of my Chase Freedom after transferring its points over to the new card and gain the flexibility that it offers.

 

[George K]

I just got approved for the Chase Saphire Reserve Card with the 100,000 point reward attached provided I can find $4000 to spend in three months. Fortunately I can put a lot of my annual charitable donations on it In addition to many tax and other bills. So I might be able to make it by the deadline. I can now get rid of my Chase Freedom after transferring its points over to the new card and gain the flexibility that it offers.

$450 annual fee!

That might be worth it if you get enough back in points, but...$450!

 

[Hal]

I just got approved for the Chase Saphire Reserve Card with the 100,000 point reward attached provided I can find $4000 to spend in three months. Fortunately I can put a lot of my annual charitable donations on it In addition to many tax and other bills. So I might be able to make it by the deadline. I can now get rid of my Chase Freedom after transferring its points over to the new card and gain the flexibility that it offers.

$450 annual fee!

That might be worth it if you get enough back in points, but...$450!

You don't want to get the card unless you travel. So the fee really comes out to $150 year if you travel since they rebate $300 in any travel expenses a year. Also in addition they will rebate Global Entry/or TSA pre check fee.

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[Hal]

I just got approved for the Chase Saphire Reserve Card with the 100,000 point reward attached provided I can find $4000 to spend in three months. Fortunately I can put a lot of my annual charitable donations on it In addition to many tax and other bills. So I might be able to make it by the deadline. I can now get rid of my Chase Freedom after transferring its points over to the new card and gain the flexibility that it offers.

Since the card gives you 3x points for travel, 2x for dining and 1x for everything else it pairs well with keeping the Freedom card, not closing it, if you have the Freedom Unlimited version since the Freedom Card has no annual fee. I put my travel and dining on the Reserve Card and the rest on the Freedom Unlimited Card which gives 1.5x and then transfer the points to the Reserve.

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[jis]

My Freedom Card is just what is leftover of the old AGR Card. It seems not to do much of anything unless I remember to register for the quarterly specials, which is something that I forget to do quite often.

 

[Hal]

My Freedom Card is just what is leftover of the old AGR Card. It seems not to do much of anything unless I remember to register for the quarterly specials, which is something that I forget to do quite often.

A lot would love to have that card. I don't think it is available anymore for new sign ups. But I suggest seeing if they will convert it to the Freedom Unlimited version instead of closing it. You don't have to register for the specials, you get 1.5% back on all spend. The Freedom Unlimited pairs well with the Sapphire Reserve.

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[jis]

Hal, thanks for the suggestion. I'll look into it.

 

[Hal]

Hal, thanks for the suggestion. I'll look into it.

On the Reserve Card you should spend $300 in travel before the end of this year if that is possible for you to do because the travel credit is by calendar year. I have had the card about two months and was able to get the $300 credit for 2016 spent on travel. January 1, 2017 starts the next calendar year.

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[willem]

The Sapphire Reserve card pays 3x for dining as well as travel. See https://creditcards.chase.com/credit-cards/home/?CELL=6TKX.

AT A GLANCE

Elevated end-to-end travel benefits 3X Points on Travel and Dining from airfare and hotels to fine dining and cafés

The consensus on FlyerTalk is that travel charges must post to a statement in 2016 to get a credit for 2016. One person recently reported having the first statement date moved from something in January to December 28 in order to capture the 2016 credit. Since you already have the card, jis, you might try this if your first statement date is now scheduled for January. (Also, the advice on FlyerTalk is to hang up and call again if the first agent says the change cannot be made.) The travel charges count toward the $4000 spend even if they get reimbursed. The annual fee, which will probably be the first charge on your new card, does not.

A strategy mentioned on FlyerTalk is using the Chase Freedom card for items in a quarterly bonus category (5x), using the Sapphire Reserve card for all travel and dining that isn't eligible for a bonus category (3x), and using a Freedom Unlimited card for all other purchases where some other card is not more appropriate (1.5x). Of course, this requires having all three cards and utilizing the quarterly bonus offering.

As noted earlier in the thread, both the Sapphire Preferred and the Sapphire Reserve offer primary insurance for rental cars. Also, they both offer travel insurance. Sadly, the ability to transfer UR points to AGR has gone away.

 

[George K]

For someone like me, who travels Amtrak twice a year on an overnight trip from Chicago (New Orleans, or PDX) and wants to spend time at a nicer hotel (on the Mrs.' insistence), what's the best combination of cards? I don't fly.

Currently, I'm using the AGR MC ($79 fee) for all of my purchases, and I took advantage of the sign-on bonus in points. I also use the AGR shopping portal for everything I can (about 50K points in 2 years that way).

Would I be better off with one of the Chase cards and just paying for Amtrak travel with that?

 

[willem]

In the short term, the clear winner is the card that offers the bonus most useful to you.

If you have a use for Ultimate Rewards points, that would likely be the Sapphire Reserve card. Since AGR is not a transfer partner for UR, and you don't fly, your transfer options appear to be Hyatt Gold Passport, IHG Rewards Club, Marriott Rewards, and Ritz-Carlton Rewards. You can also use UR points to book travel at the UR web site. If used there (and they can be used for hotels and car rentals, as well as activities, whatever those may be), points are worth 1.5¢ each. Thus, for your $450 annual fee and $4,000 spend in three months, you get $300 back (if you booked at least $300 in travel expenses) plus 100,000 UR points plus whatever points you get for the $4,000 spend. For a net cost of $150, you get points worth at least $1,500—if you can use them usefully at the UR web site.

I understand, but could be wrong, that you can redeem UR points as a credit on your bill. In this case, I believe the points are worth 1¢ each, but you can redeem them for anything you can put on your bill. If I'm right, then you could redeem your bonus points for a $1,000 credit on your bill. Not bad for a $450 card that already reimburses $300 in travel expenses.

I hope that helped.

 

[George K]

Thank you, Willem, for a clear explanation. The UR, though attractive, is more limited than it used to be (no AGR), and for the hotels we like (not Marriott or Ritz - we like Windsor Court in NOLA), the points are not transferable.

I guess I'll stick with the BoA AGR card for now.