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07-17-2017 07:05 AM
Starting this thread because I don't want to derail jfriend's post about the Citi Prestige offer where this has been brought up.
The DoctorofCredit and others are reporting that Chase has been sending out surveys to cardholders asking their opinions about potential changes. None of the choices are good and mostly affects the ability to transfer from the cashback cards like the two Freedoms to the UR earning cards like the CSP and CSR. If Chase is doing these surveys I'd be willing to bet that some change is coming before too long. For those that use multiple Chase cards to earn UR points I'd encourage you to transfer them from your Freedom cards to the CSR or CSP now and often.
07-17-2017 06:40 AM - edited 07-17-2017 07:08 AM
All good points jfriend33. However none of that helps me with that spend requirement.
And where did you hear that Chase rumor? You're the only one I've seen mention it.
Horrible changes if they make them . Though I have to say that Chase has spoiled us with the ability to transfer from cashback cards like the two Freedom cards to points earning cards like the CSP and CSR. No other creditor does that.
07-17-2017 07:18 AM
07-17-2017 08:08 AM
Hmmm. I was going to PC from the slate to the Freedom Unlimited for this very reason. But if they are going to change the UR program, then I might as well get rid of the Slate for good.
07-17-2017 08:13 AM
If/when they do this my interest in Chase will drop a lot. Been waiting til the end of the year where I can meet the spending bonuses on the both the CSP and CSR so when they got met I would PC the CSP to CFU and ride out the CSR the first year to see if I wanted to keep the card. But this changes things to where if I should even bother.
07-17-2017 08:27 AM
07-17-2017 08:31 AM
This is literally the primary reason everyone wants Chase cards. Every travel hack YouTube video says to get the trifecta. Getting rid of that benefit would be shocking.
If Chase is actually planning to do this, the bolded is probably a major reason why. I doubt they particularly like their cards being manipulated to hoover up rewards points. "Travel hacks" people may not like it if this happens, but those cards are Chase's to do with as they deem best.
07-17-2017 08:43 AM - edited 07-17-2017 08:47 AM
All of the options presented in the DOC story point towards Chase's intention to do one thing: disallow the redemption of Cash back rewards at a value higher than the actual cash back. The first two options are so on their face. The third option would be allowing transfer at 2/3 value. I'm sure not coincidentally, 2/3 * 1.5 = 1.
I can't say I blame Chase for doing this. Cashback products may not have been intended for the benefits of AF based UR cards to begin with, and now enough people have taken advantage of it that Chase is looking to explicitly change the rules. As for whether they will lose business or customers if they do this, I think Chase is betting that the customers they would lose are the ones costing them the most in the current transfer system, and they are happy to rid themselves of those customers.
I think Chase could also cut off their nose to spite their face. The CSR was driven by these same users. The whole UR program was also a winner even before the CSR came on the scene. You change that, you run the risk of losing a large population that you just won over. Remember, this generation isn't as brand loyal as their parents. They will respond negatively because there ARE other options out there. They realize that banks aren't necessarily for their best interest and if the benefits stop, they move on. Look at how many people started jumping ship from the AMEX Platinum until Amex was forced to up its game? Now is not the time to start removing benefits just as other card issuers are upping their game to better compete. Again, Chase runs the risk of massive customer loss if this change goes bad. The current UR program made the $450 AF for the CSR worth it. Remove the one thing that makes having the CSR worth it, and you reverse the popularity you created last year.
If I were Chase, I would have to weigh the potential losses from changing the UR program against current "losses" if there are any. Losing a guaranteed $450 revenue per card holder could be worse if there is a mass exodus. The online travel card community is even larger and stronger as a customer base than it ever was and credit card companies have learned to listen to those on Reddit and travel hack sites. It's up to us to complain and threaten to leave if we want Chase to keep the UR program as is.
07-17-2017 08:50 AM - edited 07-17-2017 09:20 AM
This is very concerning news I was actually about to downgrade my ink plus to ink cash, lucky I didn't or i would have lost a lot of potential points there. I guess I should think about transferring my freedom UR to my CSR now.
Edit: I really have to think about UR program in general if I may be want to just concentrate on accuruig MR instead. With UAL points nerf, well its a nerf to me because i usually use them to fly to asia and now they are increasing amount of points reuqred again. Its not neccesarily an UR nerf but it makes using UR a lot more difficult for me. Who knows maybe will just use UR for hyatt now instead. I really should do more research on Plat vs CSR before this change goes into affect
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