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Regular Contributor
ACsteel
Posts: 236
Registered: ‎08-19-2012
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Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!

[ Edited ]

Both of those cards you can qualify for, I mean honestly speaking.. there is nothing really special about any of the two, in fact the AMEX platinum is much easier to get now a days for people even around 720 FICO.

 

However I have to ask, why would you want these cards?  Currently the trend in the market is to maximize return off your cards, which is why the current boom on all these reward cards, and according to your income 40k annually, I think you have better options out there especially over the AMEX platinum.  There are many ways to get money back from travel and not incur those silly Annual Fees.  Oh yeah, but how bout the perks? The concierge service is a joke, this isn't the old days where people don't know how to make a reservation, we live in an information age where moves can be made on our own, I personally have put my AMEX concierge service to the test a couple of times for tickets to a game and restaurant reservations, and I have always beat or even got what they were not able to.  The long list of gimmicks never beats hard returns, so be smart about your choice my friend, it's your money you worked hard for.

 


Garden Member Since: 2014 - 4 - 1
EX FICO | 2014 - 3 - 1 | 793
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
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Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!


Cdnewmanpac wrote:


The csp doesn't come with a lot of perks. The concierge service is great, but there is no lounge access, no hotel elite status, etc. 

https://explorelhrcollection.com/ This doesn't count? 

 

1. Chase Card, The Luxury Hotel & Resort Collection (Sapphire or Explorer card-level holders):
- Free Breakfast for Two Persons
- $100 Property Credit (we used ours toward food, beverage, and retail; also applies for golf and spa purchases; credit applied to bill upon checkout)
- room upgrade upon arrival (when available)

2. VISA Signature Luxury Hotel Collection (VISA Signature card-level holders):
- Free Breakfast for Two Persons (limited to $25/pp)
- $25 Property Credit (check details of what this applies toward at check-in)
- Room Upgrade Upon Arrival (when available)

3. American Express, Fine Hotels & Resorts (Platinum card-level holders):
- Free Continental Breakfast for Two Persons
- $100 credit (check details of what this applies toward at check-in)
- Noon/Early Check-In (when available)
- 4p.m. Guaranteed Late Checkout (VERY nice perk!)
- Room Upgrade Upon Arrival (when available)


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011
0

Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!


MuzickLover13 wrote:

Hello All,

 

I have two questions in one.

 

Could some one please give a guess at my chances about getting approved for either a Chase Sapphire Preferred CC or a Platinum American Express Charge Card?  Currently my credit score is 760, I currently have a Best Buy In-Store Credit Card ($1600 limit), and two Capital One Credit Cards ($1500 limit and $5000 limit)  If you currently look at my credit card balance I have $300 on the one and that is all, I typically pay my balance off every month.  I also have had a student loan of $15,000 which I have paid off in full.  I have had one credit check in the past two years and I have had a credit card since 2010.  This is all that is on my credit report.  I don't know if they look at my income but I currently make about 40,000 a year, this might hold me back possibly if they take that into consideration.

 

Also, could someone please give me any suggestions on which one to get?  I understand one is a Credit Card and one is a Charge Card.  I know they are both good for traveling and I understand that the AMEX has a HUGE $450 yearly fee and the Chase has a $95 yearly fee but waived for the first year.  I personally can easily justify either of the fees considering the travel I do.  I am leaning towards the Chase because of the 1:1 points transfer because I have memberships with Priority Club, Delta and Hilton.

 

Thank you so much!

Jessica


If you know how to use points, and use Chase UR points transfer to Priority Club, Delta, or Hilton I would have to severely hurt you..... Priority club, Delta, and Hilton points are respectively the worst in each redemptions.  Worst airline and hotel points..... People value UR points at 2-3 cents per dollar normally, I value them personally at 4.3 cents.  

 

Hilton = 0.5 cents or LESS!

 

Delta = at best 1.2 cents Personally my value of Delta points is 0.2 imo. Advertised for 30k to Asia, and NEVER found 1 flight after 3 hours for anything under 290k. even looking 360 days ahead.

 

Priority Club about 0.5 - 0.7 cents.

 

 

United miles can be worth as much as 10 points for first class, and 4.3 for economy international flights during high season.

 

Using points for Ritz Carlton can get 4 cents value.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Regular Contributor
ramblin_wreck08
Posts: 181
Registered: ‎08-09-2012
0

Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!

Unless I'm mistaken only MR points can be transferred to Hilton and Delta, not UR points. Chase and Amex have different partnership agreements. If you like to fly Delta and stay at Hilton properties and want to accrue points fast, I'd recommend the Amex Premier Rewards Gold card for 3x points on travel, 2 on gas/groceries, and 1 on everything else. Platinum is about the perks. PRG is about the points. The Hilton branded cards are the quickest way to accrue Hilton points. The value of MR points is in the flexibility to move to one program or another if you need a few more miles or points to book an award.



What's in my wallet:



Left to right:
NPSL ($10k approved)
$5k (EMV - Chip & PIN)
$7k (Visa Sig + EMV)
$7.5k (WEMC)

Transunion FICO: 709 (8/13/12) -> 740 (9/24/12)
Credit Karma: 772 (11/24/13)
Credit Sesame: 755 (11/5/13)
Established Contributor
Cdnewmanpac
Posts: 767
Registered: ‎01-16-2012
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Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!


angelnyc wrote:

Both of those cards you can qualify for, I mean honestly speaking.. there is nothing really special about any of the two, in fact the AMEX platinum is much easier to get now a days for people even around 720 FICO.

 

However I have to ask, why would you want these cards?  Currently the trend in the market is to maximize return off your cards, which is why the current boom on all these reward cards, and according to your income 40k annually, I think you have better options out there especially over the AMEX platinum.  There are many ways to get money back from travel and not incur those silly Annual Fees.  Oh yeah, but how bout the perks? The concierge service is a joke, this isn't the old days where people don't know how to make a reservation, we live in an information age where moves can be made on our own, I personally have put my AMEX concierge service to the test a couple of times for tickets to a game and restaurant reservations, and I have always beat or even got what they were not able to.  The long list of gimmicks never beats hard returns, so be smart about your choice my friend, it's your money you worked hard for.

 


First, this is a narrow viewpoint. Just because you place no value on perks doesn't mean they have no value. And while I'm sorry you were disappointed in the platinum concierge (why did you get that card if you don't value perks? Just curious), others (including myself) have had very different experiences. I've gotten reservations through the CSP concierge at restaurants showing booked solid via open table. It is also extremely useful when you don't speak the native language, as many overseas restaurants may not have an english speaker answer the phone. 

 

If your strategy is to maximize pure monetary return, the platinum makes no sense. The CSP and PRG might, if you spend enough in the right categories and can maximize point value at redemption. If you don't spend that much, you are correct that there are no fee cards that would work better. But I'm assuming OP travels for business, since "travels alot" and "40k income" don't fit together any other way. I have found no free card that gives me higher redemption on travel purchases than CSP, once you account for the value you get by transferring to airline miles. That's even after taking into account the $95 fee. And if you run into problems overseas, I'd much rather have a chase rep on the other end of the phone than someone from FIA or Barclays.

In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
Established Contributor
Cdnewmanpac
Posts: 767
Registered: ‎01-16-2012
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Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!


distantarray wrote:

Cdnewmanpac wrote:


The csp doesn't come with a lot of perks. The concierge service is great, but there is no lounge access, no hotel elite status, etc. 

https://explorelhrcollection.com/ This doesn't count? 

 

1. Chase Card, The Luxury Hotel & Resort Collection (Sapphire or Explorer card-level holders):
- Free Breakfast for Two Persons
- $100 Property Credit (we used ours toward food, beverage, and retail; also applies for golf and spa purchases; credit applied to bill upon checkout)
- room upgrade upon arrival (when available)

2. VISA Signature Luxury Hotel Collection (VISA Signature card-level holders):
- Free Breakfast for Two Persons (limited to $25/pp)
- $25 Property Credit (check details of what this applies toward at check-in)
- Room Upgrade Upon Arrival (when available)

3. American Express, Fine Hotels & Resorts (Platinum card-level holders):
- Free Continental Breakfast for Two Persons
- $100 credit (check details of what this applies toward at check-in)
- Noon/Early Check-In (when available)
- 4p.m. Guaranteed Late Checkout (VERY nice perk!)
- Room Upgrade Upon Arrival (when available)


These are perks for wealthy people, not for grind it out business travelers. At 40k/year, I don't see OP using these hotels often. Heck, at 3x that amount it is still a stretch for many of these properties. My point was not that there aren't benefits to the CSP, but that the card is best at earning points rather than providing perks. You could get the same hotel collection with a united explorer card, but also get a free bag, priority boarding and dedicated customer service (just like CSP). CSP doesn't give you hotel status anywhere, doesn't get priority boarding, free bags, lounge access, etc. These are the perks that typically matter to business travelers. I'm not knocking the CSP, I have one and it is my goto card. 

In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
Valued Contributor
ryanbush
Posts: 1,299
Registered: ‎08-19-2012
0

Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!


zeusta20 wrote:

Well...First of all, I PERSONALLY think that you have a pretty good chacne at getting approved for the CSP. For the platinum, i'm not sure since I don't really see a whole lot of people with the Platinum.


The Platinum is much easier to get approved for then the CSP.

Chase Sapphire Perferred | Chase Freedom | AMEX Platinum | AMEX Delta Platinum | AMEX SPG | Capital One Venture | Capital One Quicksliver | Discover IT | ABFCU Visa | Citi AA WEMC
Senior Contributor
Open123
Posts: 4,155
Registered: ‎02-23-2011
0

Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!


distantarray wrote:

Using points for Ritz Carlton can get 4 cents value.


Where?  Point in the right direction this one?  Thanks!

 

Agree with Cdnewmanpac in that these are two very different cards for very different purposes.  The CSP is great for the extra points earned from travel, dining, UR Mall bonuses, and redeeming through the UR points.  The Amex is mainly for benefits and prestige--$200 credit, FHR, MR First and SPG Gold.  Unless one needed extended warranty protection of a higher price item, there's no reason to use the card given there is no bonus on spending.

 

The CSP would be harder to get than the Plat, in my view.

Senior Contributor
Open123
Posts: 4,155
Registered: ‎02-23-2011
0

Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!


angelnyc wrote:
The concierge service is a joke, this isn't the old days where people don't know how to make a reservation, we live in an information age where moves can be made on our own, I personally have put my AMEX concierge service to the test a couple of times for tickets to a game and restaurant reservations, and I have always beat or even got what they were not able to.  The long list of gimmicks never beats hard returns, so be smart about your choice my friend, it's your money you worked hard for.

 


On general principle, I agree with you completely. 

 

In this modern age of readily accessible almost perfect information, for 99% of us, there is no compelling reason to use pay any fees associated with travel brokers, attorneys (for stuff like trusts and simple contracts), stockbrokers/financial advisors, CPAs, and credit card annual fees.  All the services associated with them can be had for less and better on our own, assuming we're willing to make an effort sorting out the readily availalbe information in our fingertips.

 

But (there is always one, I suppose), annual fees never make sense, until they do make sense.  For example, the fee associated with the Amex Plat is a huge value if you need them and were already going to pay for the benefits associated with them a la carte.  Say, you don't spend or stay enough for airline lounge access, SPG gold, wanted car rental membership perks, and were going to spend $200 on the an airline regardless travelling abroad a few times per year, I see this card having tremendous value for $450; just as in Turbo Tax is the best option, until it isn't, when your finances have grown to the point where taxes have become complex with multiple companies, corps, llc, schedule C, k1 filings, and various other special tax code stuff.

Valued Contributor
CreditScholar
Posts: 2,300
Registered: ‎01-22-2012
0

Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!


Cdnewmanpac wrote:

distantarray wrote:

Cdnewmanpac wrote:


The csp doesn't come with a lot of perks. The concierge service is great, but there is no lounge access, no hotel elite status, etc. 

https://explorelhrcollection.com/ This doesn't count? 

 

1. Chase Card, The Luxury Hotel & Resort Collection (Sapphire or Explorer card-level holders):
- Free Breakfast for Two Persons
- $100 Property Credit (we used ours toward food, beverage, and retail; also applies for golf and spa purchases; credit applied to bill upon checkout)
- room upgrade upon arrival (when available)

2. VISA Signature Luxury Hotel Collection (VISA Signature card-level holders):
- Free Breakfast for Two Persons (limited to $25/pp)
- $25 Property Credit (check details of what this applies toward at check-in)
- Room Upgrade Upon Arrival (when available)

3. American Express, Fine Hotels & Resorts (Platinum card-level holders):
- Free Continental Breakfast for Two Persons
- $100 credit (check details of what this applies toward at check-in)
- Noon/Early Check-In (when available)
- 4p.m. Guaranteed Late Checkout (VERY nice perk!)
- Room Upgrade Upon Arrival (when available)


These are perks for wealthy people, not for grind it out business travelers. At 40k/year, I don't see OP using these hotels often. Heck, at 3x that amount it is still a stretch for many of these properties. My point was not that there aren't benefits to the CSP, but that the card is best at earning points rather than providing perks. You could get the same hotel collection with a united explorer card, but also get a free bag, priority boarding and dedicated customer service (just like CSP). CSP doesn't give you hotel status anywhere, doesn't get priority boarding, free bags, lounge access, etc. These are the perks that typically matter to business travelers. I'm not knocking the CSP, I have one and it is my goto card. 


I wouldn't say it's a stretch for people making 120k/year, depending on their other financial obligations. However you're right in that they're not the kind of places most people would be staying in for business.

 

The LHR collection isn't a very good example though of benefits as such. Yes they do provide some extra perks, but their rates are higher than what you can get by directly going through the hotel (or their chain). The Visa Sig and Amex FHRprograms have a best rate guarantee, which means that while you're getting those perks, you're also not paying more than the BAR. The LHR has no such guarantee so you'll get perks, but you'll also pay more for them.

FICOs: EX: 826, EQ: 817, TU: 810
Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
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Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank American Airlines Executive World Elite MasterCard - $22,500 CL
J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL

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