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Is it almost inevitable that the CSR will be nerfed sooner or later? As we already heard before that Chase lost money from this card, well today I know theres been news floating around and articles online that Chase is looking to cut $200M in costs and has concerns over if theyre profiting or not with the card. It states the critial point is the one year mark coming up to see if people will renew their card and pay for the annual fee or cancel.
We already see them changing the annual travel credit from calendar based to card anniversary, not counting mortgage paying with plastiq as travel anymore, rumors about possibly not being able to transfer points from NO AF cards like freedom to the CSR, etc. They seem to really be clamping down.
What are your predictions? Will it happen?
A lot of non-credit-enthusiast friends have had both Freedom and CSP for years. Chase may have a hard time creating rules that will discourage bonus chasing and "UR empire building" without irritating the customers they want to keep.
I think that CSR will be tweaked but not nerfed. The swarm of churners already went to the 100K UR light. Like a similiar thread about AMEX, the banks are looking for customers who will stay beyond the sign-up bonus period.
Didn't they already make a change to the travel credit to make it once per membership year instead of calendar year? To me that is a massive savings because you were getting people who were double dipping and taking $600 in travel credits and then closing the card. Also, maybe they will trim back on the number of guests that people can have in the PP lounges. I'm sure they pay more than some cards that only allow one guest and to me it gets kinda silly when people bring ten of their friends into an already crowded lounge and only one of them holds the card.
The large signup bonuses have stopped, so going forward they won't be paying out all those points. I hope they don't do this but I think a move like citi might make sense where the bonus covers all cards of the same family. So if you got the bonus on the CSR then you can't get the bonus on the CSP or freedom card for the next two years either. This may encourage people to just downgrade to the CSP if they want to keep the ability to transfer vs having them apping for a CSP and getting the first year free and then closing the CSR. This way people will have to pay some sort of AF if they want to keep the ability to transfer URs. I don't know how much of a hit they are taking on travel/restaurant bonus category spend, but if they are finding people are going really hard in those categories then maybe they can look at capping them. I'm sure some people are using the CSR as a business card and running massive restaurant/travel spend through the card to rack up points. If I were them I'd look at adding marriott/spg status like the amex plat does. It might cost some money but I think it would significantly up the retention on the card. Then again its a big ask.
They pumped soo many of those cards into the public that I think they can cut back on the marketing expenses for the card. Enough people have the card that its established in the market place now and they should be shifting towards retention and maybe offering BT offers to try to get people to revolve balances.
I don't care if Chase tweaks the CSR sign-up bonus, the number of guests you can bring into a Priority Pass club, the Global Entry reimbursement, the 50% bonus for using their travel portal, or the ability to transfer points from Freedom and Freedom Unlimited to CSR.
For me, the non-negotiables are:
-- $150 net annual fee ($450 minus the $300 travel credit)
-- 3 points per dollar spent on travel and dining
-- 1:1 transfers to partner airline mileage programs
If any of those three change, I cancel the CSR.
Chase had a big win a year ago when social media fueled interest in the CSR long before it became available. Oddly enough, Chase seems not to have grasped that those who live by the sword die by the sword. The past month has been full of rumors as to changes Chase is considering to CSR, Freedom, and Freedom Unlimited. I predict that this year's ominous rumors will scare away customers just as last year's exciting rumors attracted customers.
@pizza1 wrote:
My predication is that I probably won't ever be 5/24 to care about it, lol...
You and me both Bahahahahahahahaha
@pizza1 wrote:
My predication is that I probably won't ever be 5/24 to care about it, lol...
Hahaha yeah by the time I'm under 5/24 again the CSR probably won't be worth getting anymore.