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Contributor
Posts: 122
Registered: ‎08-19-2012
0

Doing the math on the Chase Sapphire Preferred...

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!

Amex PR Gold NPSL | Amex BCP 16.5k| Amex Delta Gold Skymiles 14.9k | Amex BSP 5k | Discover 12.5k | Citi Diamond Preferred 11.9k | Chase Freedom 12k | Chase Sapphire Preferred 12k | US Bank Cash + Visa 13k | BankAmericard Cash Rewards Signature Visa 9.5k | M and T Bank Visa 10.9k | FICO TU 784 EQ 768 EX 784
Super Contributor
Posts: 7,489
Registered: ‎12-11-2011
0

Re: Doing the math on the Chase Sapphire Preferred...

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. 



Frequent Contributor
Posts: 348
Registered: ‎08-17-2012
0

Re: Doing the math on the Chase Sapphire Preferred...

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

EQ 778 | TU 776
Barclay US Airways WMC 7.5k | BCE 5.8k | BofA Travel Rewards 9.1k | Chase Marriott Premier 13k | Citi TYP WMC 6.5k | Freedom Visa Sig 8k| Discover it 10k
Frequent Contributor
Posts: 348
Registered: ‎08-17-2012
0

Re: Doing the math on the Chase Sapphire Preferred...

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

EQ 778 | TU 776
Barclay US Airways WMC 7.5k | BCE 5.8k | BofA Travel Rewards 9.1k | Chase Marriott Premier 13k | Citi TYP WMC 6.5k | Freedom Visa Sig 8k| Discover it 10k
Contributor
Posts: 122
Registered: ‎08-19-2012
0

Re: Doing the math on the Chase Sapphire Preferred...

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

Amex PR Gold NPSL | Amex BCP 16.5k| Amex Delta Gold Skymiles 14.9k | Amex BSP 5k | Discover 12.5k | Citi Diamond Preferred 11.9k | Chase Freedom 12k | Chase Sapphire Preferred 12k | US Bank Cash + Visa 13k | BankAmericard Cash Rewards Signature Visa 9.5k | M and T Bank Visa 10.9k | FICO TU 784 EQ 768 EX 784
Frequent Contributor
Posts: 352
Registered: ‎07-13-2012
0

Re: Doing the math on the Chase Sapphire Preferred...

pay the card off before the statements hit. 

Lender pulled 10-10-13
EQ Fico 715 | EX Fico 714 | TU Fico 703
Established Contributor
Posts: 751
Registered: ‎06-06-2012
0

Re: Doing the math on the Chase Sapphire Preferred...

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

Super Contributor
Posts: 6,224
Registered: ‎02-23-2011
0

Re: Doing the math on the Chase Sapphire Preferred...


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.

 

 

Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
0

Re: Doing the math on the Chase Sapphire Preferred...


Open123 wrote:

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.

 

 


+1

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Contributor
Posts: 122
Registered: ‎08-19-2012
0

Re: Doing the math on the Chase Sapphire Preferred...


Crashem wrote:

Open123 wrote:

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.

 

 


+1


Thanks you guys, will do!

Amex PR Gold NPSL | Amex BCP 16.5k| Amex Delta Gold Skymiles 14.9k | Amex BSP 5k | Discover 12.5k | Citi Diamond Preferred 11.9k | Chase Freedom 12k | Chase Sapphire Preferred 12k | US Bank Cash + Visa 13k | BankAmericard Cash Rewards Signature Visa 9.5k | M and T Bank Visa 10.9k | FICO TU 784 EQ 768 EX 784

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