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CSP or?

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BLAIX
Contributor

CSP or?

I've tried searching the forums and browsing the internet and I guess I'm just not picking up what's being put down. I currently dont have a card with a AF and am not a huge spender - I probably put about $1K-1.5K spend across my cards in any given month. I try to put my spend on whichever card I'll get the best rewards on - AMEX BCE takes my groceries and gas when Freedom or Discover it don't have a 5% bonus. Any other bills/misc expenses don't make much of a difference to me, but I'm not big on shopping/dining so I don't redeem a whole lot there.

 

I'd really like to get a travel card and hear how great CSP pairs with Freedom. I just don't know if I have the spend to justify the $95/AF and even after that the whole nonsense of using the points to book a flight just throws me for a loop. I would rather fly economy and save points for more flights than fly first class to a single destination. I guess I was just hoping someone could flip the switch and help me understand or lead me to a blog that can help out. Maybe I need a ELI5. Is it even worth it for someone of my spend?



Total Credit: $96,000. Total Utilization: 4%
[[Starting Score (10/2014): EQ: 674 | EX: 680 | TU: 745]] | [[Current Score (02/2020): EQ: 808 | EX: ??? | TU: 778]] | [[Goal Score: 800 Club]]
Message 1 of 8
7 REPLIES 7
Anonymous
Not applicable

Re: CSP or?

If I were in your shoes, I'd apply and get the reward- 40,000 points for travel as it never expires..  And then, I will downgrade to the one with no annual fee (Chase Sapphire).  That is no longer being offered but if you get the CSP, you can downgrade to the CS.

Message 2 of 8
red259
Super Contributor

Re: CSP or?


@Anonymous wrote:

If I were in your shoes, I'd apply and get the reward- 40,000 points for travel as it never expires..  And then, I will downgrade to the one with no annual fee (Chase Sapphire).  That is no longer being offered but if you get the CSP, you can downgrade to the CS.


+1 I did this. My situation is different in that I also have an ink bold so there was no reason to keep the CSP beyond the first year for the ability to transfer points. That being said the AF is waived for the first year. You can try it out, see how it works out for you in the first year and then downgrade if you are not happy with it at that point. Just make sure to transfer your points into a travel partner before the downgrade, because you will lose the transfer ability once you switch to CS from CSP. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 3 of 8
greasypeanut
Established Member

Re: CSP or?

ive had my csp and freedom combo for about 1.5 years and i love it. on average my monthly spend on the combo is actually lower than yours.  but with all the bonus points you get initially plus the 1st year free, its so worth it. 

 

just like you, im not a kind of person to spend money on first class tickets or things like that. being able to transfer the points to airlines is the biggest perk. southwest "wanna get away" tickets are such a great value. not only are the wanna get away tickets cheaper paying with $, but when you actually use SW points to pay for the flight, it ends up being discounted even more.  futhermore,the rental car insurance is great, plus the purchase protection benefits that come with the card too (ive used the "cheaper price elsewhere" benefit and it worked out well)

 

i would recommend trying it for at least the free year, if it doesnt work out for you spend wise, you could always cancel or try to PC to regular sapphire. i think the more important question is can you meet the spend required to get that bonus.

eq score 789-----ex score 794

CSP $10k - - - - - Freedom $11k
TY Pref $6.8k - - - - - Forward $13.1k
Blue $20k - - - - -Cash + $19.5k
Venture $15k - - - - -Best Buy RZ MC $4.5k (1st card 10 years ago, refuse to attempt CLI due to HP)
Message 4 of 8
dollar_bill
Regular Contributor

Re: CSP or?

For me the bonus worked out perfect as I was planning a vacation. Not sure how long i'll keep the card around, i'm in the same boat with the travel. I go to Vegas once a year but that's about it, and my spend categories are covered by other cards.

 

So that puts me in line with what others are saying, try it out, then downgrade or cancel if you can't justify the AF.

Message 5 of 8
BLAIX
Contributor

Re: CSP or?

I can definitely meet the spend requirements. I usually pay rent while my boyfriend takes care of the rest of our bills (this ends up being pretty much 50/50) but whenever I want to meet a spend requirement we flip-flop since I can't pay rent with a CC. I'll also try to hold off until I buy another 6months of auto insurance which runs a few hundred dollars. I can meet 3k/3mo easy peasy, 4k will just mean I'll just need to time it right for the extra spend security. I've also wondered, what happens if I put 4k spend in 3months then return a large purchase the following month after I get the 40,000 points, say $250? Do they retract the bonus?



Total Credit: $96,000. Total Utilization: 4%
[[Starting Score (10/2014): EQ: 674 | EX: 680 | TU: 745]] | [[Current Score (02/2020): EQ: 808 | EX: ??? | TU: 778]] | [[Goal Score: 800 Club]]
Message 6 of 8
Anonymous
Not applicable

Re: CSP or?

With a return of $250, you may or may not get the bonus retracted.  I know Barclays took back my points when I made a return so YMMV..

Message 7 of 8
BLAIX
Contributor

Re: CSP or?

I just threw the $250 figure out there because it's not as negligble as a pack of gum but it's not like I put a $4k down payment on my credit card then charged it back. Not something I plan on doing but inquiring minds want to know!



Total Credit: $96,000. Total Utilization: 4%
[[Starting Score (10/2014): EQ: 674 | EX: 680 | TU: 745]] | [[Current Score (02/2020): EQ: 808 | EX: ??? | TU: 778]] | [[Goal Score: 800 Club]]
Message 8 of 8
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