Anyone get a CSP just for the sign on bonus?

Anonymous · ‎04-13-2017

I read a lot about people scooping up the Freedom or Freedom Unlimited cards for the sign on bonus, but am not sure I've heard of anyone chasing the sign on bonus of the CSP. Is it because the spend with the CSP ($4000) is much steeper? The 50k sign on bonus points I believe can be redeemed for $500 in statement credit which to me is pretty appealing. Assuming you can hit the 3 month $4k spend by simply moving some of your spend from other cards to the CSP, does anyone other than me see value in the CSP sign on bonus? If you close the card in the first year you avoid the $95 AF right? At that point one could just move their CSP limit to another card and be done with it if they don't travel a lot or see much value in keeping the CSP. Looking for comments/opinions on this.

K-in-Boston · ‎04-13-2017

You are correct on all accounts. I took CSP mainly for the bonus while I decide if I want the CSR or not. In addition to closing, you could PC to Chase Sapphire which does not have an annual fee or CSR, other cards may be possible too. Also that $500 becomes $625 if you redeem through the UR portal for travel (actual amount is higher since you also earned at least another $40/$50 through the $4k spend). It would also effectively make the Freedom a 1.25%/6.25% card and the Freedom Unlimited a 1.875% card when redeeming through UR.

Anonymous · ‎04-13-2017

It's a nice sign up bonus but for me 4K spend is hard to do at the moment because I'm chasing 3 other sign up bonuses.

But if you can spend the 4K no problem then go for it there are definitely plenty of people that have done it.

Anonymous · ‎04-13-2017

@K-in-Boston wrote:
You are correct on all accounts. I took CSP mainly for the bonus while I decide if I want the CSR or not. In addition to closing, you could PC to Chase Sapphire which does not have an annual fee or CSR, other cards may be possible too. Also that $500 becomes $625 if you redeem through the UR portal for travel (actual amount is higher since you also earned at least another $40/$50 through the $4k spend). It would also effectively make the Freedom a 1.25%/6.25% card and the Freedom Unlimited a 1.875% card when redeeming through UR.

Thanks for the reply. I only travel once a year and my job covers it, which is why I never really considered the CSP. After looking at the $500 statement credit bonus though, I must say I've considered it. The other part to the equation is that I'm definitely going to apply for the Chase Amazon Visa (I've had Prime for years) in the next month or two. I've seen some pretty ugly SLs with that card, where I'd want mine to be higher as I spend quite a bit on Amazon. I was thinking I could score the CSP, grab that sign on bonus, then transfer some of that limit over to the Amazon card and either close out the CSP or PC it (downgrade it) to something like the Freedom where the 5% categories may appeal to me some quarters. Is my thought process on this solid or am I overlooking something? Also if I app for the CSP and Amazon Visa at the same time I may sneak away with 1 HP rather than 2, which is always a plus.

Anonymous · ‎04-13-2017

BBS - The only issue with that, is say they give you a 5.5k SL the min limit for that card is 5k so you can't transfer much of the CL.

You may sneak away with 1 HP but definitely do whichever one you want more first just saw another thread guy wanted FU and CSP but wanted CSP more. For some reason he app'd for FU first, approved then CSP and was denied for too many new Chase account applications and FU was his first app in 3 years...YMMV just saying if Amazon is your goal maybe app for that first.

Anonymous · ‎04-13-2017

I took the CSP for the bonus and to use the card for travel expenses. When I'm eligible for the CSR I will get that and merge the CSP line into it and keep the CSR as my travel card.

Anonymous · ‎04-13-2017

Yes, I got it just for the sign up bonus. I don't use it anymore because I can get more points per dollar on other Chase cards and just transfer them when I'm ready to use them.

Anonymous · ‎04-13-2017

@Anonymous wrote:
BBS - The only issue with that, is say they give you a 5.5k SL the min limit for that card is 5k so you can't transfer much of the CL.

You may sneak away with 1 HP but definitely do whichever one you want more first just saw another thread guy wanted FU and CSP but wanted CSP more. For some reason he app'd for FU first, approved then CSP and was denied for too many new Chase account applications and FU was his first app in 3 years...YMMV just saying if Amazon is your goal maybe app for that first.

I'm pretty confident that if I applied for the CSP they'd give me a solid 5-figure SL based on my profile. In looking at the credit pulls database, those with my profile/score received SL's generally in the $10k-$20k range, so I'd probably land somewhere in there. Assuming a $5k-$9k or so SL with the Chase Amazon, I could transfer $5k from the CSP to the Amazon and have a 5-figure limit on the Amazon which is my utlimate goal. Of course, scooping up the $500 sign on bonus on the CSP would be a great reason to consider this move.

Also, from what I understand that Amazon card isn't subject to 5/24, so if 5/24 is "on the cusp" I think it would make the most sense to app for the CSP first followed by the Amazon. I'm at 4/24 now if EX is pulled, 3/24 if TU or EQ are pulled, so if I app for the CSP I think I'd be fine and then the Amazon shouldn't matter either way.

How about downgrading the CSP to the Freedom? Has anyone done that and/or is it possible?

Anonymous · ‎04-13-2017

@Anonymous wrote:
Yes, I got it just for the sign up bonus. I don't use it anymore because I can get more points per dollar on other Chase cards and just transfer them when I'm ready to use them.

Since you don't use the CSP much since getting the bonus, did you ever move any of its limit to your other Chase card(s)?

K-in-Boston · ‎04-13-2017

BBS - if I recall correctly our profiles are in the same ballpark. I got $12k SL on mine (moved $2k to Freedom last month after I got the SUB), so you should be fine. Not sure if the Chase Amazon is subject to 5/24. Other than wanting the 100k points for CSR the only Chase card I seriously have wanted recently was the Marriott for the 100k points (hello 33,300 SPG points), and that is confirmed 5/24. I still have the FU sitting in my Offers page, but would probably leave the garden for a big Marriott bonus if cobranded cards start to show up there.