topic Re: Product Change from Chase Freedom to Sapphire Preferred in Credit Cards

Product Change from Chase Freedom to Sapphire Preferred

osuguy — Fri, 15 May 2015 22:08:46 GMT

Need some advice here:

I originally had the Chase Freedom card. I got it last year, $10k limit, never used it once the entire time I had it. I was mainly using my Chase Southwest Preferred card for the points instead. Then, I found out about the Chase Sapphire Preferred and the 40,000 signing bonus. To make things simple, I used the secure chat feature on Chase.com to request a product change from the Freedom card to the Sapphire Preferred card. After using my new Sapphire Preferred card for about 2 months, I just found out that I'm not elligible for the 40,000 bonus points because it was a product change, not a new application. What the...? Am I crazy for thinking I was entitled to the 40,000 points? Is there anything I can do to qualify for the points, someone I can speak to? The customer service lady said I would have to cancel the card and wait 2 years before reapplying to receive the bonus.

Your feedback is appreciated!

Re: Product Change from Chase Freedom to Sapphire Preferred

blondy250 — Fri, 15 May 2015 22:16:01 GMT

No you were not entitled to the 40k points thats for new applicants, but look at the brightside you didn't get an inquiry for a new card and the CSP is a very good card with a good point redemption strategy.

Re: Product Change from Chase Freedom to Sapphire Preferred

osuguy — Fri, 15 May 2015 22:19:01 GMT

Here is the fine print (*Offer Details) for the CSP card on Chase.com:

===============================================

40,000 Bonus Points after you spend $4,000 on purchases in the first 3 months from account opening
This new cardmember bonus offer is not available to either (i) current cardmembers of this consumer credit card, or (ii) previous cardmembers of this consumer credit card who received a new cardmember bonus for this consumer credit card within the last 24 months. To qualify and receive your bonus, you must make Purchases totaling $4,000 or more during the first 3 months from account opening. ("Purchases" do not include balance transfers, cash advances, cash-like charges such as travelers checks, foreign currency, and money orders, any checks that access your account, overdraft advances, interest, unauthorized or fraudulent charges, or fees of any kind, including an annual fee, if applicable.) After qualifying, please allow 6 to 8 weeks for bonus points to post to your account. To be eligible for this bonus offer, account must be open and not in default at the time of fulfillment.

===============================================

FWIW, I've already met the $4,000 on purchases in first 3 months requirement.

Re: Product Change from Chase Freedom to Sapphire Preferred

Anonymous — Fri, 15 May 2015 22:22:25 GMT

@osuguy wrote:
Here is the fine print (*Offer Details) for the CSP card on Chase.com:
===============================================
40,000 Bonus Points after you spend $4,000 on purchases in the first 3 months from account opening
This new cardmember bonus offer is not available to either (i) current cardmembers of this consumer credit card, or (ii) previous cardmembers of this consumer credit card who received a new cardmember bonus for this consumer credit card within the last 24 months. To qualify and receive your bonus, you must make Purchases totaling $4,000 or more during the first 3 months from account opening. ("Purchases" do not include balance transfers, cash advances, cash-like charges such as travelers checks, foreign currency, and money orders, any checks that access your account, overdraft advances, interest, unauthorized or fraudulent charges, or fees of any kind, including an annual fee, if applicable.) After qualifying, please allow 6 to 8 weeks for bonus points to post to your account. To be eligible for this bonus offer, account must be open and not in default at the time of fulfillment.
===============================================

FWIW, I've already met the $4,000 on purchases in first 3 months requirement.

It's for new accounts and always has been for any sign up bonus for cards.

Re: Product Change from Chase Freedom to Sapphire Preferred

blondy250 — Fri, 15 May 2015 22:23:06 GMT

You didn't open a new account, it was a product transfer. i did the very same thing when the CSP was first released (had 2 freedom cards), believe me they made it clear that I wasn't going to get the signup bonus points. In fact I dont know any CC company that gives the new account signup bonus to a product change.

Re: Product Change from Chase Freedom to Sapphire Preferred

osuguy — Fri, 15 May 2015 22:29:52 GMT

Man, I sincerely feel cheated as I thought I was playing by the rules. I understand the "new cardmember" wording, but I figured I am a new cardmember of the Chase Sapphire Preferred card as I have never had it before...? I do not believe Chase made it clear that I would not qualify for any signing bonus. Here is the text from the secure message conversation:

======================================================

Dear ,

Thank you for contacting Chase asking about switching your
account to a Sapphire Preferred Card.

I noticed that you have an option to change your current
Chase Freedom Card to a Chase Sapphire Preferred Visa
Signature Card. Please know that your account number and
Annual Percentage Rate wont change as a result of the
product change. Also, your current rewards will transfer
to the new product.

Following are the product details:

Annual Fee $95. 2 points per dollar spent on dining at
restaurants - from fast food to fine dining. 2 points per
dollar spent on travel including flights, hotel
accommodations, car rentals, timeshares, and more. Card
member will not be charged foreign transaction fees. Plus,
1 point per dollar spent on all other purchases. No caps
on the amount of points earned. No expiration on points.

Please review the following information before we process
your request.

- All enrolled features on account will be retained.

- Any promotional balances attached to the old account
will transfer to your new account based on terms of the
original promotion.

-If you have previously been excluded from receiving
solicitations, you will continue to be excluded going
forward.

- If any of the terms of your account have changed, you
will receive a letter in the mail explaining the changes
and your right to reject them.

- This reward product also offers a bonus earn shopping
site. There will be no changes to any rewards earned by
your previous shopping site purchases.

- Please note that the expiration date and signature panel
code will change. If you have automatic charges billed to
this account, you will want to inform those merchants of
the new expiration date once you receive your new card.

In addition, please know that there is no credit check
processed for a product change.

If you wish to continue with this request, please reply
using the Secure Message Center. We're not able to process
your request unless we receive your confirmation.

We look forward to hearing from you.

If you have any further questions, please reply using the
Secure Message Center.

Sincerely,

Senior Service Specialist

======================================================

There are some statements here which could be misinterpreted, one example is, "- Any promotional balances attached to the old account will transfer to your new account based on terms of the original promotion."

Re: Product Change from Chase Freedom to Sapphire Preferred

Anonymous — Fri, 15 May 2015 22:39:13 GMT

I certainly hope you don't have a 22.99% APR CSP..

Re: Product Change from Chase Freedom to Sapphire Preferred

osuguy — Fri, 15 May 2015 22:41:27 GMT

APR
       As Of                         05/03/2015
       Purchase APR       0.00%
       Cash APR                23.99%

Re: Product Change from Chase Freedom to Sapphire Preferred

Anonymous — Fri, 15 May 2015 22:43:40 GMT

Wait what. 0% CSP?

Also. You could wait a few mos and PC again to a CS and reapply for a CSP. You never got the bonus so you would be eligible indeed.

Re: Product Change from Chase Freedom to Sapphire Preferred

bz386 — Fri, 15 May 2015 22:48:19 GMT

Not only did you miss out on the CSP bonus, you also missed out on the Freedom bonus, which you could have carried over to the CSP.

You can still fix this if you are willing to take a hard pull. Cancel the CSP. Wait 2-3 weeks. Apply again. You should then be eligible for the CSP bonus. The rule is that you can get the bonus if you have not received it in the past 24 months. As you have not received a bonus, you should be eligible immediately. You only have to make sure that you account is purged properly from Chase's system - wait 2-3 weeks after cancellation should be enough.

Re: Product Change from Chase Freedom to Sapphire Preferred

osuguy — Fri, 15 May 2015 22:59:12 GMT

Sure did. Looks like I'm pretty good at missing out on the bonuses! Noted.

This is interesting. I will gladly take a hard pull. No problem.

Re: Product Change from Chase Freedom to Sapphire Preferred

jsucool76 — Fri, 15 May 2015 23:03:52 GMT

@osuguy wrote:
Man, I sincerely feel cheated as I thought I was playing by the rules. I understand the "new cardmember" wording, but I figured I am a new cardmember of the Chase Sapphire Preferred card as I have never had it before...? I do not believe Chase made it clear that I would not qualify for any signing bonus. Here is the text from the secure message conversation:
======================================================
Dear ,

Thank you for contacting Chase asking about switching your
account to a Sapphire Preferred Card.

I noticed that you have an option to change your current
Chase Freedom Card to a Chase Sapphire Preferred Visa
Signature Card. Please know that your account number and
Annual Percentage Rate wont change as a result of the
product change. Also, your current rewards will transfer
to the new product.

Following are the product details:

Annual Fee $95. 2 points per dollar spent on dining at
restaurants - from fast food to fine dining. 2 points per
dollar spent on travel including flights, hotel
accommodations, car rentals, timeshares, and more. Card
member will not be charged foreign transaction fees. Plus,
1 point per dollar spent on all other purchases. No caps
on the amount of points earned. No expiration on points.

Please review the following information before we process
your request.

- All enrolled features on account will be retained.

- Any promotional balances attached to the old account
will transfer to your new account based on terms of the
original promotion.

-If you have previously been excluded from receiving
solicitations, you will continue to be excluded going
forward.

- If any of the terms of your account have changed, you
will receive a letter in the mail explaining the changes
and your right to reject them.

- This reward product also offers a bonus earn shopping
site. There will be no changes to any rewards earned by
your previous shopping site purchases.

- Please note that the expiration date and signature panel
code will change. If you have automatic charges billed to
this account, you will want to inform those merchants of
the new expiration date once you receive your new card.

In addition, please know that there is no credit check
processed for a product change.

If you wish to continue with this request, please reply
using the Secure Message Center. We're not able to process
your request unless we receive your confirmation.

We look forward to hearing from you.

If you have any further questions, please reply using the
Secure Message Center.

Sincerely,

Senior Service Specialist
======================================================

There are some statements here which could be misinterpreted, one example is, "- Any promotional balances attached to the old account will transfer to your new account based on terms of the original promotion."

That means if you have a BT going on with a promotional APR rate, your promotional rate will remain. Same for intro APRs

Re: Product Change from Chase Freedom to Sapphire Preferred

Anonymous — Sat, 16 May 2015 02:13:44 GMT

I think the 0% apr came from the Freedom.

Re: Product Change from Chase Freedom to Sapphire Preferred

osuguy — Sat, 16 May 2015 02:26:51 GMT

@midtownhd, Yes, I believe you are correct.