Doing the math on the Chase Sapphire Preferred...

[severine]

I have just obtained a Chase Sapphire Preferred (yippee!) and have been looking closely at the signing bonus which offers you 40,000 pts if you spend $3000 in the first three months. Originally I had applied for the Chase Freedom which they gave to me with a CL of $10,000. I called back to do a Sapphire Preferred app, and they very kindly gave me both by splitting the $10,000 between the two cards--never heard of that maneouver, but I was pleased.

Here is my actual question, dear readers: how do I spend the $3000 without killing my UTIL? With a CL of $5000, I wouldn't want to spend any more than $1500 a month max, so what should I do? I'd love to hear your take on this!

[jsucool76]

You can spend right up to your limit if you want, and not have it affect your utilization if you pay it off before you card reports. It usually reports right around the statement date, so if you pay it off before your statement cuts, it will usually reflect whatever balance is left after your payment on your reports. 

Hope this helps. 

[OptimasPrime]

All that you need to do to keep util down is submit a payment before the statement closing date. 

Say for example you spend 2k during your first statement period and your statement closing date is august 30. On or around august 26-27 just send them a payment for about $1500.this 1500 would post before your closing date and chase would report your balance as 500 instead of 2000.

Then pif the rest after the closing date

[OptimasPrime]

This is much easier to do if you link your bank account payment information on chases website although I suppose submitting a payment via telephone would work as well

[severine]

Thank you! I LOVE you people and your wiley cc ways!

[iMacDrew]

pay the card off before the statements hit. 

[compassion101]

I'd just not worry about the util until you are planning to apply for credit. Then pay before the statement date that month. All the other months just use the extra 3-4 week float and pay on time

[Open123]

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@severine wrote:

I have just obtained a Chase Sapphire Preferred (yippee!) and have been looking closely at the signing bonus which offers you 40,000 pts if you spend $3000 in the first three months. 

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Chase just lowered the spend requirement to $2,000.  As per Chase's custom to match any new offers within 60 day, just send them a secured email to request an adjustment to lower your spending requirement to the updated $2,000.

[Crashem]

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@Open123 wrote:

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@severine wrote:

I have just obtained a Chase Sapphire Preferred (yippee!) and have been looking closely at the signing bonus which offers you 40,000 pts if you spend $3000 in the first three months. 

---

Chase just lowered the spend requirement to $2,000.  As per Chase's custom to match any new offers within 60 day, just send them a secured email to request an adjustment to lower your spending requirement to the updated $2,000.

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+1

[severine]

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@Crashem wrote:

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@Open123 wrote:

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@severine wrote:

I have just obtained a Chase Sapphire Preferred (yippee!) and have been looking closely at the signing bonus which offers you 40,000 pts if you spend $3000 in the first three months. 

---

Chase just lowered the spend requirement to $2,000.  As per Chase's custom to match any new offers within 60 day, just send them a secured email to request an adjustment to lower your spending requirement to the updated $2,000.

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+1

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Thanks you guys, will do!