Posts: 3,176
Registered: ‎10-19-2012
Re: Is the Chase Sapphire Preferred worth carrying permanently?

mikka1 wrote:

Just will try to add my 2cents to the discussion...


First, I think we need to separate two types of comparison:

1) Compare CSP with hypothetical portfolio of other cards

2) Compare CSP with one specific card


If we are talking about #1, then I'am almost 100% sure we will quickly find a combination of 3...4 or more cards (even no-AF ones) that will economically be better than CSP alone. If we also take into account cards with rotating categories, CSP will lose this battle for sure. 

Although I think that this comparison is not 100% fair. It is cherrypicking and I doubt an average consumer (one who doesn't spend all nights long on myFico :-) ) will be able to properly handle all those cards to maximize his gain. CSP is more positioned (at least in my view) as a kind of "everyday use card"...


The goal I had in mind when writing the first post was to compare the CSP with a benchmark no-annual fee card to show whether the CSP is worth keeping in the long run given the high annual fee.


Scenario 1: carry the CSP permanently for everyday spending

Scenario 2: carry a no-annual fee card for everyday spending


Which scenario results in higher measurable returns?


I am of course not comparing one single card to a portfolio of cards because

1, it would be like comparing apples to oranges

2, I personally find carrying multiple cards in my wallet an inconvenience. I'd rather drop $100 in cash back per year than carry 5 cards all the time. Remembering which card to use in each type of purchase, and making sure each card is paid on time, takes away my free will which I would rather use for any other purpose.