CSP + Freedom + Checking. Use wisely.

[FrugalRican]

Nope, that's what I was saying. I don't deposit $500 at a time, I deposit less, but my $800 total equals more than the $500 required monthly.

[searchingfor67]

So it has to be a reoccuring direct deposit, and not a one time deposit? In other words, can I make a one-time deposit of $500 or does it have to be bi-weekly or monthly? Sorry for all the questions...just trying to get clarity.

[FrugalRican]

Ask as much as you want.

It has to be a reoccuring monthly deposit. Whether it is once, twice or twenty times, it doesn't matter as long as at least $500 goes into that checking account over the span of 30 days. If you do it only once, you won't get charged that first month, but then every month after would get charged $12.

[flowfaster]

Is the Freedom 10 cents per transaction unlimited?

[Anonymous]

Thanks, but what about the regular Sapphire?

[TBOY012]

This was very useful, thanks OP

[SamsungHDTV]

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@flowfaster wrote:
Is the 10 cents per transaction limited? In the other thread someone says 10 per transaction up to only 100.

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Yes unlimited.
The thread you read is here: http://ficoforums.myfico.com/t5/Credit-Cards/sapphire-vs-freedom/m-p/1355545#M376408

And I clarified what he was saying, I'll refer you to that thread to get clarity.

@ ptr2593:

The regular sapphire is geared towards people who eat out at restaurants a lot. 2% cash back on that. The main CSP benefit is the 20% discount on travel and being able to transfer rewards to a participating airline which the regular sapphire does not have. If you did have a regular sapphire it should only be used on restaurant purchases $11 or higher. Not much of a combo benefit with freedom + checking.

@ searchfor67 and others who still need clarification on direct deposit requirement. Frugalrican has it right. As long as you direct deposit to your account that total more than $500 each cycle period. Although you get 2 months free with no requirements not 1. Examples:

1. You get paid social security once a month that is $600. Fee waived.

2. You get paid $125 per week (total $500). Fee waived.

3. If you get paid $500 one payperiod, and $400 the next..total $900. Fee waived.

*If you have direct deposits that do not add up to $500 per cycle or more then your account is not free unless you can meet another qualifier.

@ topher227:

It's totally worth changing your direct deposit..again. Espeically in the long run. Or simply keep $1,500 in the account daily and that waives the direct deposit requirement. Given that you have $1500 you can just leave in a chase checking. Another option; just split your direct deposit. Example: if you get paid bi monthly, split $250 each pay period. Weekly? ..$125 each check. Add your other bank as an external account on chase.com and transfer money between your two banks free of charge.

@ everybody

Appreciate all the thanks and views. I'm hoping this thread is useful enough to be stickied. I'm trying to give back to the myfico community for the help I've received here.

[FrugalRican]

Bumping up, it's a great read.

CSP is what I'm gunning for in a few months once the dust settles from a busy 2012.

I originally wanted the Chase United MileagePlus but things have changed in the last week.

I'd get a better deal from the CSP and combining my Checking/Freedom with the CSP.

I wonder what the math is on how much dining you would need to do to cover the annual fee?

[jefftca925]

I've had the 10+10 benefit on my Freedom card for a while now and it is a GREAT program.  If you use it for everything the points really add up quickly.  I just converted my regular Sapphire to a CSP and the ability to transfer points to Southwest or United is gonna be great.  I can now get rid of my Southwest card and avoid the AF.  PLUS!!  The CSRs for the Sapphire card are exceptional.  Each and every time I have called them they have been WONDERFUL!!  Chase, despite their CLI issues, has some of the best CCs out there and the UR program is the best I've seen.

[FrugalRican]

You're telling me, CSP would be my third card with them.

I feel so cheap.