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Regular Contributor
lolabelle
Posts: 146
Registered: ‎11-03-2009
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Chase Sapphire vs. Chase Sapphire Preferred

It seems to me that the only difference between the Chase Sapphire and the CSP (apart from stalwart metal vs. comparatively wimpy plastic, of course :smileytongue:) is the 7% annual points dividend bonus on the CSP.  Is that the case, or have I missed something?  I have the CSP and my annual fee is about to come due.  I'm thinking if that's the only difference, it might be a good idea to try to product change to regular ol' Chase Sapphire, if I do the calculation and the 7% dividend doesn't amount to enough to pay for the annual fee.

 

Which brings me to questions two and three:  Can anyone comment on their experiences with Chase and product changing?  I've been a customer of theirs for about 7 years and currently have 4 cards - 3 personal, and 1 business.  And is it usually a soft pull or a hard pull?


Starting Score: 732 (EQ)
Current Score: EQ 08 - 837! Whoo!! (5/14/14);EQ 04 - 795! (5/15/14) 748 (TU - 5/21/12); 760 (EX - 4/16/12 AMEX pull)
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Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
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Re: Chase Sapphire vs. Chase Sapphire Preferred

I think chase amazon gives better rewards than regular sapphire.

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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Cdnewmanpac
Posts: 767
Registered: ‎01-16-2012
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Re: Chase Sapphire vs. Chase Sapphire Preferred

The big difference is transferability. If you drop to sapphire, you lose the ability to transfer ur points to air/hotel partners. For many of us, that transferability is why we have the csp.
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.
Regular Contributor
lolabelle
Posts: 146
Registered: ‎11-03-2009
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Re: Chase Sapphire vs. Chase Sapphire Preferred


webhopper wrote:
I think chase amazon gives better rewards than regular sapphire.

True.  That's actually one of the other cards I have.  It gives the best rewards on gas, groceries, things like that.  I have an AMEX BCP that I primarily use for those things, though, because the rewards are great.  Also, I think the rewards from Chase Amazon are most beneficial for crediting toward purchases on Amazon, aren't they?  That's all I've used them for.  I'm really looking for something where I can use the rewards for travel. 


Starting Score: 732 (EQ)
Current Score: EQ 08 - 837! Whoo!! (5/14/14);EQ 04 - 795! (5/15/14) 748 (TU - 5/21/12); 760 (EX - 4/16/12 AMEX pull)
Original Goal Score: 760+ EQ --> decimated!
New Goal Score: Just keep swimming...


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Regular Contributor
lolabelle
Posts: 146
Registered: ‎11-03-2009
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Re: Chase Sapphire vs. Chase Sapphire Preferred

[ Edited ]

Cdnewmanpac wrote:
The big difference is transferability. If you drop to sapphire, you lose the ability to transfer ur points to air/hotel partners. For many of us, that transferability is why we have the csp.



 

That's one thing I haven't figured out with them.  What's the benefit of transferability vs. just purchasing travel via the UR website?


Starting Score: 732 (EQ)
Current Score: EQ 08 - 837! Whoo!! (5/14/14);EQ 04 - 795! (5/15/14) 748 (TU - 5/21/12); 760 (EX - 4/16/12 AMEX pull)
Original Goal Score: 760+ EQ --> decimated!
New Goal Score: Just keep swimming...


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Senior Contributor
Open123
Posts: 4,155
Registered: ‎02-23-2011
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Re: Chase Sapphire vs. Chase Sapphire Preferred

Aside from the metal, the only discernible differences I see are:

 

1.  CSP is 2X dining and travel, whereas Sapphire is only 2X dining.

2.  No 7% bonus for the Sapphire.

3.  CSP has no forex fee, whereas the Sapphire does.

4.  CSP UR points are transferrable, whereas Sapphire's isn't.

 

Those are the main differences.  And, PC'ing from the CSP to a Sapphire is routine for Chase.  It gets more tricky when you're PC'ing from CSP to Freedom, or from UA to Freedom.

Senior Contributor
Open123
Posts: 4,155
Registered: ‎02-23-2011
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Re: Chase Sapphire vs. Chase Sapphire Preferred


lolabelle wrote:

Cdnewmanpac wrote:
The big difference is transferability. If you drop to sapphire, you lose the ability to transfer ur points to air/hotel partners. For many of us, that transferability is why we have the csp.



 

That's one thing I haven't figured out with them.  What's the benefit of transferability vs. just purchasing travel via the UR website?


Moving points to redeem travel from their partners redeeming them prudently and opportunistically will usually net you a better deal than purchasing the same on UR, travelocity, or any other web site.

 

For example, 100K or so points can redeem a business flight on UA to anywhere in Asia.  The same ticket would cost about $3K to purchase through UR, or any other web site you can find.

Established Contributor
Cdnewmanpac
Posts: 767
Registered: ‎01-16-2012
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Re: Chase Sapphire vs. Chase Sapphire Preferred

When you redeem through UR travel, the best you can do is 1.25 cents per point. Used wisely, united miles or hyatt points can approach 3 cents per point. Even sw points get about 1.8.
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.
Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: Chase Sapphire vs. Chase Sapphire Preferred

You can use amazon points for travel or for cash back, or statement credit.

Since you already have amazon, why not PC to freedom

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
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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