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Chase Southwest 50,000 Point Bonus - Questions

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jonathanw84
Established Member

Chase Southwest 50,000 Point Bonus - Questions

Hey Everyone,

 

I'm contemplating applying for this card for the 50,000 points if you spend $1000 promo. I have scores in the 800's so I'm not worried about approval. Two questions:

 

I currently have a Chase Freedom with a 17k limit. If I applied for this card, spent the $1000 dollars, received and redeemed the 50,000 points and then cancelled the card, will that affect anything with my Chase Freedom card? I don't have a need for this card but the $500 in gift cards is an awesome deal and will be easy to obtain since my wife and I spend thousands on our Freedom card each month.

 

Lastly, does anyone know when they bill the annual fee? Does that get charged to my card when I sign up or if I cancel the card before the year will I not get hit with the $69 annual fee?

 

Thanks in advance!

Message 1 of 13
12 REPLIES 12
Cdnewmanpac
Established Contributor

Re: Chase Southwest 50,000 Point Bonus - Questions

1. Annual fee is billed when you activate the card.

2. Chase has a maximum credit limit per customer. If you are near your max, some people have had to shift credit from their existing chase card to get another. You would then have to go though the process in reverse when you cancelled. That's the only impact I could see.

3. Check the t and c, because I remember at least one airline card I looked at recently required you to keep the card for a specified period or they would take back the bonus miles. Since I have the sw card, that might have been where I saw it. Not sure, though.

4. I don't see how the 50k miles=500 in gift cards. If I remember correctly,the value when trading miles for gift cards isn't great. Did you verify this?

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.
Message 2 of 13
jonathanw84
Established Member

Re: Chase Southwest 50,000 Point Bonus - Questions

Thanks for the info. I think that you're right on all accounts, so I don't think I will apppy for this card. Thanks again for the info.
Message 3 of 13
Anonymous
Not applicable

Re: Chase Southwest 50,000 Point Bonus - Questions

Number 1 is wrong. The annual fee is waived the first year so you won't get charged the fee unless you keep it for longer than a year.

 

Yes you can use your southwest RR points for gift cards but that would be going through southwest and not Chase. I am pretty sure southwest has an area to redeem for gift cards.

Message 4 of 13
Cdnewmanpac
Established Contributor

Re: Chase Southwest 50,000 Point Bonus - Questions

The current offer on the chase web site makes no mention of waiving the annual fee. The previous offer didn't waive the annual fee. Minebilled the day I activated the card. Curious where you got that information.

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.
Message 5 of 13
Anonymous
Not applicable

Re: Chase Southwest 50,000 Point Bonus - Questions

Yep I stand corrected. I don't see anything about the fee waived the first year on the Chase website. Just an assumption since I have never seen a prime travel card that didn't waive the fee for the first year, unless there might be other referrals out there that waive the fee.

 

I guess there is a little bit of an annual fee waiver with the anniversary bonus, but unless you fly southwest often this card doesn't seem to be worth it aside from the signup bonus.

Message 6 of 13
jonathanw84
Established Member

Re: Chase Southwest 50,000 Point Bonus - Questions

UPDATE! My coworker received this card and verified that the 50,000 bonus points are just that - bonus points - and they can be redeemed for giftcards at a rate of 100 points for every dollar. He redeemed his points for $500 in Amazon gift cards. So with this information, I decided to apply for the card and was instantly approved for a credit line of $20,000 Smiley Happy

 

I'm looking forward to receiving this card and getting that 50,000 point bonus. I'm not sure I will use the card much after that, but those 50,000 points will be great for gift cards and maybe a little bit of travel since my wife and I still need to book our airfare for our trip to Jamaica next year.

 

Thanks everyone!

Message 7 of 13
Open123
Super Contributor

Re: Chase Southwest 50,000 Point Bonus - Questions

With Chase, they stipulate if the card is not open for 6 months, they reserve the right to "clawback" the rewards miles.

 

Chase seldomly excercises this right, but it has been known to happen.  Of course, if you cash them out, then there isn't anything to clawback; but, in that case, be wary of adverse action. 

 

If possible, I'd try to keep it open for at least 6 months.

Message 8 of 13
jonathanw84
Established Member

Re: Chase Southwest 50,000 Point Bonus - Questions

Good advice. Thank you!

 

I plan on keeping the card open until my anniversary date rolls around and the annual fee is due again. I don't think I will have a real use of this card but will play the game for 11 months or so.

Message 9 of 13
MsLadyRover
Valued Contributor

Re: Chase Southwest 50,000 Point Bonus - Questions


@jonathanw84 wrote:

UPDATE! My coworker received this card and verified that the 50,000 bonus points are just that - bonus points - and they can be redeemed for giftcards at a rate of 100 points for every dollar. He redeemed his points for $500 in Amazon gift cards. So with this information, I decided to apply for the card and was instantly approved for a credit line of $20,000 Smiley Happy

 

I'm looking forward to receiving this card and getting that 50,000 point bonus. I'm not sure I will use the card much after that, but those 50,000 points will be great for gift cards and maybe a little bit of travel since my wife and I still need to book our airfare for our trip to Jamaica next year.

 

Thanks everyone!


AWESOME limit!!  Big Congrats to you!



Starting Score: 639 (Walmart TU)
Current Score: TU 715 (Barclay) EX 685 (myFICO) EQ 697 (myFICO)
Goal Score: 700 Across the Board (Mortgage Goal Achieved 1/31/2012!)

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