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Established Contributor
jefftca925
Posts: 683
Registered: ‎08-14-2008

Chase Sapphire PREFERRED Upgrade Offer

Happy Sunday Everyone!

 

Yesterday I received an Upgrade Offer to convert my plain Sapphire card to the Preferred version.  If I qualify (account is open and in good standing) I'll receive 2500 bonus points and no AF for one year.  With all of the benefits of the Preferred version and no AF for a year I figured why not try it and see how the program works out.  I already have checking, savings, mortgage, and two Freedom cards wiht Chase so this will be a good deal.  The Ultimate Rewards program is so flexible that I can transfer points between cards AND now airline FF programs, this will give me a reason to cancel my Southwest CC when the AF hits.  YAY!! :smileyvery-happy:

CCs: Chase Freedom World MC 6.9k, CSP VISA Sg 7k, BofA Amex 12.5k, Discover 10.5k, US Bank Cash+ Visa Sg 12.5k, Macy's Amex 8k/1.5k, Gap Visa 10k, Best Buy 11.1k, Citi TY MC 9.2k, Citi AA Amex 6k, Nordstrom Visa Sg 10k, Amex Zync, Costco Amex 12k, BofA CR Visa Sg 17k, Amex BCP 9.5k, Amex Blue 5k, Sears MC 9k, HD 7k, Target 600, Amazon 7k, US Bank MC 15k, US Airways MC 4k, NFL Visa 4k, Patelco Visa 10k, Penfed PR Visa 44.6k, Chase United Visa Sg 13k, Chase Marriott Visa Sg 8k, Citi Simplicity 11.4k, PayPal MC 5k, Compass Visa 4k, WF Visa Sg 14k, FNBO Amex 14.1k, OCCU VISA 15k, TR Visa Sg 10.8k, Capital One QS Visa 3k, FRN MC 12k, HSN 4k, Saks WEMC 10k/4k, Chase Ink 18k, Barclay Arrival 10k, Ebates Visa Sg 8k FICOs as of June '14...EQ 808 TU 804 EX ?
Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Chase Sapphire PREFERRED Upgrade Offer

Thats great offer...  What about doing a Product Change to a Different Chase card...  How come you have two Freedoms?  That's really odd!


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Contributor
BlueHusky
Posts: 193
Registered: ‎04-01-2012

Re: Chase Sapphire PREFERRED Upgrade Offer

Seems like a bad deal to me?

 

It's not really an "upgrade" to go from Sapphire to Sapphire Preferred - you just pay the annua fee, both are equally hard to get. And for NEW CSP customers you get no AF for a year + 40,000 points (not 2500). (40,000 points with their program is worth about $400 if used for cash)




Starting Score: 583 (CreditKarma, 2009)
Current Score: 783 (Walmart Free FICO, March 20, 2012), 774 (Equifax, BoA Pull, 2/20/13)
Goal Score: 800+


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Frequent Contributor
ctb89
Posts: 419
Registered: ‎03-05-2012

Re: Chase Sapphire PREFERRED Upgrade Offer

Chase will let you combine the CLs on your two Freedoms. Why not do that?
Established Contributor
TannerK
Posts: 1,275
Registered: ‎12-02-2010

Re: Chase Sapphire PREFERRED Upgrade Offer


BlueHusky wrote:

Seems like a bad deal to me?

 

It's not really an "upgrade" to go from Sapphire to Sapphire Preferred - you just pay the annua fee, both are equally hard to get. And for NEW CSP customers you get no AF for a year + 40,000 points (not 2500). (40,000 points with their program is worth about $400 if used for cash)


Its a nice upgrade. Points now transfer to partners and are worth 20% more. 2x on restraunts and travel. 7% dividend, ect.

Established Contributor
jefftca925
Posts: 683
Registered: ‎08-14-2008

Re: Chase Sapphire PREFERRED Upgrade Offer


ctb89 wrote:
Chase will let you combine the CLs on your two Freedoms. Why not do that?

one of the Freedom cards was an old WaMu CC (MC) that converted last year and the other (VISA) I've had for 4 years (when they had the old Freedom program).  They don't cost me anything to keep but add to my AAoA.

 

As far as the "upgrade", it's not costing me anything for the first year so I can try it out and see if it works well to substantiate the cost.  Plus I get bonus points without a spend requirement.  The 40k offer requires a $3k spend in 3 months.  I'm in the middle of two spend requirements now so that's not gonna work.

 

I'll close my Southwest card in August when the AF comes due and transfer the CL to another Chase card.  If I can transfer points to Southwest from the Sapphire account it doesn't make sense to keep that card.

CCs: Chase Freedom World MC 6.9k, CSP VISA Sg 7k, BofA Amex 12.5k, Discover 10.5k, US Bank Cash+ Visa Sg 12.5k, Macy's Amex 8k/1.5k, Gap Visa 10k, Best Buy 11.1k, Citi TY MC 9.2k, Citi AA Amex 6k, Nordstrom Visa Sg 10k, Amex Zync, Costco Amex 12k, BofA CR Visa Sg 17k, Amex BCP 9.5k, Amex Blue 5k, Sears MC 9k, HD 7k, Target 600, Amazon 7k, US Bank MC 15k, US Airways MC 4k, NFL Visa 4k, Patelco Visa 10k, Penfed PR Visa 44.6k, Chase United Visa Sg 13k, Chase Marriott Visa Sg 8k, Citi Simplicity 11.4k, PayPal MC 5k, Compass Visa 4k, WF Visa Sg 14k, FNBO Amex 14.1k, OCCU VISA 15k, TR Visa Sg 10.8k, Capital One QS Visa 3k, FRN MC 12k, HSN 4k, Saks WEMC 10k/4k, Chase Ink 18k, Barclay Arrival 10k, Ebates Visa Sg 8k FICOs as of June '14...EQ 808 TU 804 EX ?
Frequent Contributor
ctb89
Posts: 419
Registered: ‎03-05-2012

Re: Chase Sapphire PREFERRED Upgrade Offer

If you close the other Freedom, it will still factor into your AAoA for 10 years.
Established Contributor
jefftca925
Posts: 683
Registered: ‎08-14-2008

Re: Chase Sapphire PREFERRED Upgrade Offer


TannerK wrote:

BlueHusky wrote:

Seems like a bad deal to me?

 

It's not really an "upgrade" to go from Sapphire to Sapphire Preferred - you just pay the annua fee, both are equally hard to get. And for NEW CSP customers you get no AF for a year + 40,000 points (not 2500). (40,000 points with their program is worth about $400 if used for cash)


Its a nice upgrade. Points now transfer to partners and are worth 20% more. 2x on restraunts and travel. 7% dividend, ect.


+ 1000!!!   This card has a lot more perks especially if you have other accounts with Chase.  I can earn a lot more points in the UR program and have more flexibility with it.  This really is a no-brainer.

CCs: Chase Freedom World MC 6.9k, CSP VISA Sg 7k, BofA Amex 12.5k, Discover 10.5k, US Bank Cash+ Visa Sg 12.5k, Macy's Amex 8k/1.5k, Gap Visa 10k, Best Buy 11.1k, Citi TY MC 9.2k, Citi AA Amex 6k, Nordstrom Visa Sg 10k, Amex Zync, Costco Amex 12k, BofA CR Visa Sg 17k, Amex BCP 9.5k, Amex Blue 5k, Sears MC 9k, HD 7k, Target 600, Amazon 7k, US Bank MC 15k, US Airways MC 4k, NFL Visa 4k, Patelco Visa 10k, Penfed PR Visa 44.6k, Chase United Visa Sg 13k, Chase Marriott Visa Sg 8k, Citi Simplicity 11.4k, PayPal MC 5k, Compass Visa 4k, WF Visa Sg 14k, FNBO Amex 14.1k, OCCU VISA 15k, TR Visa Sg 10.8k, Capital One QS Visa 3k, FRN MC 12k, HSN 4k, Saks WEMC 10k/4k, Chase Ink 18k, Barclay Arrival 10k, Ebates Visa Sg 8k FICOs as of June '14...EQ 808 TU 804 EX ?
Established Contributor
jefftca925
Posts: 683
Registered: ‎08-14-2008

Re: Chase Sapphire PREFERRED Upgrade Offer


ctb89 wrote:
If you close the other Freedom, it will still factor into your AAoA for 10 years.

If there is no AF for the card it doesn't hurt anything... it's just another card that I have to rotate.  Not a biggie.  Plus the cards help my AAoA...and keeping open doesn't start the 10-year clock.

CCs: Chase Freedom World MC 6.9k, CSP VISA Sg 7k, BofA Amex 12.5k, Discover 10.5k, US Bank Cash+ Visa Sg 12.5k, Macy's Amex 8k/1.5k, Gap Visa 10k, Best Buy 11.1k, Citi TY MC 9.2k, Citi AA Amex 6k, Nordstrom Visa Sg 10k, Amex Zync, Costco Amex 12k, BofA CR Visa Sg 17k, Amex BCP 9.5k, Amex Blue 5k, Sears MC 9k, HD 7k, Target 600, Amazon 7k, US Bank MC 15k, US Airways MC 4k, NFL Visa 4k, Patelco Visa 10k, Penfed PR Visa 44.6k, Chase United Visa Sg 13k, Chase Marriott Visa Sg 8k, Citi Simplicity 11.4k, PayPal MC 5k, Compass Visa 4k, WF Visa Sg 14k, FNBO Amex 14.1k, OCCU VISA 15k, TR Visa Sg 10.8k, Capital One QS Visa 3k, FRN MC 12k, HSN 4k, Saks WEMC 10k/4k, Chase Ink 18k, Barclay Arrival 10k, Ebates Visa Sg 8k FICOs as of June '14...EQ 808 TU 804 EX ?
Contributor
BlueHusky
Posts: 193
Registered: ‎04-01-2012

Re: Chase Sapphire PREFERRED Upgrade Offer

 


TannerK wrote:

BlueHusky wrote:

Seems like a bad deal to me?

 

It's not really an "upgrade" to go from Sapphire to Sapphire Preferred - you just pay the annua fee, both are equally hard to get. And for NEW CSP customers you get no AF for a year + 40,000 points (not 2500). (40,000 points with their program is worth about $400 if used for cash)


Its a nice upgrade. Points now transfer to partners and are worth 20% more. 2x on restraunts and travel. 7% dividend, ect.



I know the CSP is better, I'm just saying it's not an upgrade as you get more from just getting the CSP from the beginning.




Starting Score: 583 (CreditKarma, 2009)
Current Score: 783 (Walmart Free FICO, March 20, 2012), 774 (Equifax, BoA Pull, 2/20/13)
Goal Score: 800+


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