Chase Restricting Having Multiple Sapphire Cards

[MASTERNC]

According to Doctor of Credit, effective yesterday, current Chase Sapphire cardholders won't be able to apply for another Sapphire product (i.e. having CSP and applying for CSR).  Product changes are still available but no bonus offers are available.  Current cardholders who have both Sapphire cards aren't affected by this.

In addition, there will be a 24 month wait after closing a Sapphire card before being approved for another (a new iteration of 5/24, but effectively like Citi's 2-year wait before being bonus eligible again).

https://www.doctorofcredit.com/chase-memo-customers-can-get-one-sapphire-card-e-g-csp-cardholders-ca...

[wasCB14]

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@MASTERNC wrote:

According to Doctor of Credit, effective yesterday, current Chase Sapphire cardholders won't be able to apply for another Sapphire product (i.e. having CSP and applying for CSR).  Product changes are still available but no bonus offers are available.  Current cardholders who have both Sapphire cards aren't affected by this.

In addition, there will be a 24 month wait after closing a Sapphire card before being approved for another (a new iteration of 5/24, but effectively like Citi's 2-year wait before being bonus eligible again).

https://www.doctorofcredit.com/chase-memo-customers-can-get-one-sapphire-card-e-g-csp-cardholders-ca...

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You're misreading it. It's 24 months from when the Sapphire bonus was earned, not when the card was closed.

[K-in-Boston]

Boo!  I was considering going for the CSR in a couple of years, but having to choose between downgrading my CSP to a Freedom or Freedom Unlimited first or getting a sign-up bonus stinks.  (Guess I could always PC the downgraded CSP back to a CSP or CSR if it didn't work out for some reason.)

[ridgebackpilot]

Well, we knew something like this was coming, right?! Chase has lost so much on the CSR card that they had to find a way to stop the hemorrhage.

Still, I may well PC my CSP to the CSR card. I travel a lot, so regardless of the bonus points I would like 3 UR points per dollar spent on travel and dining. As you know, the CSP card only gives 2 UR points for those charges. And even though the CSR has a higher AF, it still makes sense to get the CSR card if you travel at all:

Here's a helpful article on the subject: https://thepointsguy.com/2017/05/should-you-choose-csr-over-csp/

According to The Points Guy: "Even though the CSR has a higher annual fee, it easily comes out on top because of its great benefits. But as we’ve seen, even if you don’t include the value of those perks, it still doesn’t take much in the way of annual travel and dining spend for the CSR to make sense, even at $450 per year."

However, one issue for me is that the SL on my CSP card is only $6,000. But the CSR is a VISA Infinite card. So Chase would need to exend me at least another $4,000 in SL to meet the $10K minimum for the CSR card. I guess the only way to find out if they'll do that is to request a PC and see what happens.

I'm a Chase Private Client customer but lately that hasn't seemed to help much. Once you reach your maximum exposure, Chase is reluctant to give you any more credit no matter how much you have invested with them. And my CPC banker often seems to know less about obtaining Chase cards than I do...

[Anonymous]

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@ridgebackpilot wrote:

Well, we knew something like this was coming, right?! Chase has lost so much on the CSR card that they had to find a way to stop the hemmorhage.

Still, I may well PC my CSP to the CSR card. I travel a lot, so regardless of the bonus points I would like 3 UR points per dollar spent on travel and dining. As you know, the CSP card only gives 2 UR points for those charges. And even though the CSR has a higher AF, it still makes sense to get the CSR card if you travel at all:

Here's a helpful article on the subject: https://thepointsguy.com/2017/05/should-you-choose-csr-over-csp/

According to The Points Guy: "Even though the CSR has a higher annual fee, it easily comes out on top because of its great benefits. But as we’ve seen, even if you don’t include the value of those perks, it still doesn’t take much in the way of annual travel and dining spend for the CSR to make sense, even at $450 per year."

However, one issue for me is that the SL on my CSP card is only $6,000. But the CSR is a VISA Infinite card. So Chase would need to exend me at least another $4,000 in SL to meet the $10K minimum for the CSR card. I guess the only way to find out if they'll do that is to request a PC and see what happens.

I'm a Chase Private Client customer but lately that hasn't seemed to help much. Once you reach your maximum exposure, Chase is reluctant to give you any more credit no matter how much you have invested with them. And my CPC banker often seems to know less about obtaining Chase cards than I do...

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I tried to upgrade my CSP to CSR when it was released and my CPS it's at $5k CL.  The rep said i could:

1. HP for a CL increase to $10k

or

2. HP to just apply to get the 100k

I declined both.

[Anonymous]

That's a bummer. I was going to get a csp in February when I get to 4/24.

[ridgebackpilot]

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@Anonymous wrote:

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I tried to upgrade my CSP to CSR when it was released and my CPS it's at $5k CL.  The rep said i could:

1. HP for a CL increase to $10k

or

2. HP to just apply to get the 100k

I declined both.

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Actually there is a third option, which I just took advantage of: You can PC (product change) from CSP to CSR. No HP required! I had to move some existing credit from other cards to cover the difference between the $6K SL on my CSP and the required minimum $10K SL on the CSR. But that took about 20 seconds and it was done.

The ability to PC cards and move SL around among cards is one of many reasons that I like Chase. 

[Anonymous]

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@ridgebackpilot wrote:

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@Anonymous wrote:

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I tried to upgrade my CSP to CSR when it was released and my CPS it's at $5k CL.  The rep said i could:

1. HP for a CL increase to $10k

or

2. HP to just apply to get the 100k

I declined both.

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Actually there is a third option, which I just took advantage of: You can PC (product change) from CSP to CSR. No HP required! I had to move some existing credit from other cards to cover the difference between the $6K SL on my CSP and the required minimum $10K SL on the CSR. But that took about 20 seconds and it was done.

The ability to PC cards and move SL around among cards is one of many reasons that I like Chase. 

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He only shows 1 Chase card in his signature so I don't think that was an option.

[Anonymous]

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@Anonymous wrote:

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@ridgebackpilot wrote:

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@Anonymous wrote:

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I tried to upgrade my CSP to CSR when it was released and my CPS it's at $5k CL.  The rep said i could:

1. HP for a CL increase to $10k

or

2. HP to just apply to get the 100k

I declined both.

---

Actually there is a third option, which I just took advantage of: You can PC (product change) from CSP to CSR. No HP required! I had to move some existing credit from other cards to cover the difference between the $6K SL on my CSP and the required minimum $10K SL on the CSR. But that took about 20 seconds and it was done.

The ability to PC cards and move SL around among cards is one of many reasons that I like Chase. 

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He only shows 1 Chase card in his signature so I don't think that was an option.

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You're right, my CSP is the only Chase CC I have.  Not planning on applying for any more CCs until my ch7 falls off (10/2020) anyways.  IF i get a CLI before then, and it's travel time with the family, i'll for sure upgrade to CSR.  I'm actually looking forward to this card and how it would work for international travel.  Just came back from Europe 3 weeks ago and Oh My Goodness, what a bad experience with AMEX Platinum...that's why you see my AMEX Green now (but that's another storey).

[Anonymous]

We all know the war of sign up bonus has resulted in loses and something has to be done.

This change is one of the better (for us) ways to cut loss when you look across the industry (compared to the huge benefits cut of Prestige and the 'we let you choose between either use uber every month or pay more AF; we advertise that you get 5X for air/hotel except you don't really get 5X in most cases if you understand that AMEX travel is not the only option to purchase air/hotel or if you want delay protection or FHR/elite perks; we finally caught up with the rest by offering metal card/PPS guests but we need to charge more AF for these' "improvements" of Platinum).

The above is esp. true for people who actually enjoy the great benefits that comes with an easily dropped to $150 AF.

Now, of course, if one's sole purpose is to churn cards as fast as possible for sign up bonus then this is not a good change, nor was 5/24. Though I don't see why any bank would like business from this kind of clients so it all makes perfect sense and simultaneously benefits the typical users.