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I currently hold a CSP, approved last month and am about to fulfill the spending requirements to get the 50,000 UR. However, I am more of an AMEX guy and love their customer service. Can I PC to a Freedom UL and still keep my UR? Can I do that right after I get all the bonus 50,000 UR? If so, will my card/account number be the same or will it be reported as "closed" on my credit reports?
Thank You so much for the advice!
What does being an Amex guy have anything to do with PCing from a CSP to Freedom?
AFAIK, Chase requires 6 months of inactivity before it can PC a card.... or maybe that's just with transferring credit lines... Either way, getting the bonus and then PCing would seem suspicious to me if I were Chase. Why the rush?
You can get better point redepmtion with CSP anyways... would make sense to redeem there first before PCing.
You'd pick a Freedom Unlimited over a Sapphire Preferred?
There's many 1.5% and 2% back cards everywhere. The PC would seem like a waste of time if it were me deciding.
The SP in itself is a unique card... Metal, primary renter's insurance coverage, no foreign transaction fees, and instant American CS with no automated system.
I can't believe you'd give up a flagship card like that to go with the measley Freedom Unlimited.
I would suggest that you keep CSP and app for either Freedom or Freedom U that is the only way to keep the value of UR points. Once you PC the UR points lose transfer ability and become straight cash back.
I PC'd my CSP to FU but I have the Ink+ card can transfer my CB from FU to my ink card for UR points.
I use Amex a lot but I love UR points also so I have enough spend to have it worth while to use two reward programs. Also, at times I find UR points more valuable and more flexible because Chase has more transfer partners. So coming from an "Amex guy" myself I would never get rid of a card that has great value.
@Anonymous wrote:
You JUST got the card.. You didn't know you're an Amex guy before last month?
I duno.. It's shenanigans like this where you get your 50k points and then PC/close the card that will ultimately make these cc companies get stricter and tighter on their rewards programs. No one likes a person that blatantly takes advantage of the system.
It is totally in the control of the issuers, and CSP has been like this for a long time, with a big bonus and AF waived for the first year (They did recently increase the spend requirement). Presumably, at least for now, Chase still feels it is worth it, even with a lot of people cancelling or PCing before the AF is due.
With the 5/24, it looks like they are more concerned with people with lots of cards (i.e. like many here) rather than bonus churners
Also if you PC to the FU card while technically you keep your UR points you can no longer transfer them to travel partners which is where you achieve the maximum value for the points. You need either the CSP to do that (along with a few other business or high end cards).
edit- now see that redpat said same thing.
@colinstu wrote:What does being an Amex guy have anything to do with PCing from a CSP to Freedom?
AFAIK, Chase requires 6 months of inactivity before it can PC a card.... or maybe that's just with transferring credit lines... Either way, getting the bonus and then PCing would seem suspicious to me if I were Chase. Why the rush?
You can get better point redepmtion with CSP anyways... would make sense to redeem there first before PCing.
6 months of inactivity? I did not realize that.
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |
I was able to PC my Slate to the Freedom Unlimited with no issues. I only had the Slate for two months when I did this. I do now regret doing this bc now bc I've now missed out on the sign up bonus for the Freedom Unlimited. But I now favor Amex so I'm not too bummed out about it.