topic Re: CSR JP Morgan - Help Me Figure This Out PLS - THX! in Credit Cards

CSR JP Morgan - Help Me Figure This Out PLS - THX!

Anonymous — Wed, 14 Sep 2016 22:59:00 GMT

Hello!!

I had another account and forgot all the user info so created a new one. This forum REALLY helped me about 3 years ago when I knew nothing about the "game" so to speak so I want to thank you all!.....

So as we all know the new hot card is the CSR . I apped for it last night and got it. It will replace my CSP. I then found out that there is also a new palladium card replacement called the JP Morgan Reserve. It is the same AF and offers a weee bit more benefits. So thought well damn, should have got that! So I called and no dice - you got to go in. Then I got to thinking of doing a PC from my new (not even in hand yet) CSR. Again no can do. THEN I remebered that I have my JP Morgan Select! Turns out I can do the PC with through that card because they are part of the same family. However, I will not get the 100k bonus. Together that would be $900 up front for both cards. I will for sure hit the bonus on the CSR and get the $1000 cash back ( or $1500 travel) which could pay for both cards AF or I just have to pay up and get $600 back in flights or something. I do not have the horsepower to get the JPMR on its own merit by going in. I am too extended with them. I have no Utilization with them per say, but my credit to income is maxed. I also have a amazon with them and a freedom ($500 bunk limit - first card with them back in the building days)

I do not want or need all these cards with these HIGH AF. CSP($95), CSR($450) JMPMS($95), JPMR( $450) = $1090 (!!!!!)

Here is my idea to obtain the JPMR and get at least the 100k.

Run the CSR for the $4k get the points then package all the cards above into the JPMR getting rid of the CSR, CSP and Select. In doing so I will have paid $900 instead of $450. For the first year, both cards will be free (I would actually be up $100) or cost $900 out of pocket and I get the $1500 in travel. My thoughts in the outcome is correct right?

Does anyone know if they would waive the fee on the JPMR if I paid my $95 on the Select then got the Reserve or would they just prorate it? So my fee would just be $355?

Also, does consolidating cards do anything to my credit?

Thank you for the help!!!

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

darwin_wins — Wed, 14 Sep 2016 23:25:38 GMT

You can't simply apply for JPMR card like it is CSR card. That card is specifically reserved for high worth clients of their (think 2 mil+ assets with JPM). JPMR is probably at the same level as their now discontinued JPM Palladium card.

Also I hope you are not redeeming CSR for cashback (yes you can) because that card is best used for travel so by going cash back route you will give up 500 dollars in redemption.

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

android01 — Thu, 15 Sep 2016 00:13:39 GMT

@Anonymous wrote:
Hello!!

I had another account and forgot all the user info so created a new one. This forum REALLY helped me about 3 years ago when I knew nothing about the "game" so to speak so I want to thank you all!.....

So as we all know the new hot card is the CSR . I apped for it last night and got it. It will replace my CSP. I then found out that there is also a new palladium card replacement called the JP Morgan Reserve. It is the same AF and offers a weee bit more benefits. So thought well damn, should have got that! So I called and no dice - you got to go in. Then I got to thinking of doing a PC from my new (not even in hand yet) CSR. Again no can do. THEN I remebered that I have my JP Morgan Select! Turns out I can do the PC with through that card because they are part of the same family. However, I will not get the 100k bonus. Together that would be $900 up front for both cards. I will for sure hit the bonus on the CSR and get the $1000 cash back ( or $1500 travel) which could pay for both cards AF or I just have to pay up and get $600 back in flights or something. I do not have the horsepower to get the JPMR on its own merit by going in. I am too extended with them. I have no Utilization with them per say, but my credit to income is maxed. I also have a amazon with them and a freedom ($500 bunk limit - first card with them back in the building days)

I do not want or need all these cards with these HIGH AF. CSP($95), CSR($450) JMPMS($95), JPMR( $450) = $1090 (!!!!!)

Here is my idea to obtain the JPMR and get at least the 100k.

Run the CSR for the $4k get the points then package all the cards above into the JPMR getting rid of the CSR, CSP and Select. In doing so I will have paid $900 instead of $450. For the first year, both cards will be free (I would actually be up $100) or cost $900 out of pocket and I get the $1500 in travel. My thoughts in the outcome is correct right?

Does anyone know if they would waive the fee on the JPMR if I paid my $95 on the Select then got the Reserve or would they just prorate it? So my fee would just be $355?

Also, does consolidating cards do anything to my credit?

Thank you for the help!!!

Where did you find out that you could PC the JPM Select to the new JPMR? I have a JPM Select as well, and this interests me. This would bypass completely the need to be a JPM private client in order to be eligible for the JPMR.....Hmmm.....

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

Anonymous — Thu, 15 Sep 2016 01:08:56 GMT

I am not applying I am doing a PC from a JPMS to JPMR

I have spoken with three people at Chase (phone) and according to one of them we (JPMS & Palladium) card holders will be getting invitations to the JPMR. Per usual us on the forums seem to know a bit more than most right out the gate. But yes, if you call you can do the PC BUT you will not get the 100k. If you want the 100k you have to go to a actual (not Chase) JP Morgan branch and have a sit down with one of them. I went to the local chase and they had a Private Bank side there. Sopke with the gentleman who was very nice, but I actually knew more about it than he did. He knew they existed, but thought you could only get one by going to JP and do the dance. He said many of those card holders like we all read and here about have 5 - 100mm with them.

So, unless you have a JPMS or Palladium you can not get it unless you go in and app for it. It was worth a shot for me to go to Chase and see whats up in regards to getting one through the app process so I could get another 100k. But I do not have the horsepower to go into JP get one. Therefore (the point of the post really) is do I pay $900 to get $1000 cash ($100 net) or $1500 in travel? The choice is mine and mine only. Just wanted some opinions.

In the end all I want is the JPMR. Why? I like the hidden TL, credit extension if needed, it has the same AF as the CSR along with all the other benefits as the CSR. So if I was going to close my CSP for the CSR, why would I not just close them all and get the JPMR? The answer seems to be clear in my case. Cough up the $900, then close the CSR and the CSP when I hit the $4000 and I will end up either even or up if I use it for travel benefits. Now, if the new JPMR was still $550 a year and retained most other benefits of the Palladium I would not consider it. That card IMO was far less freindly to mere mortals (but that what they want right?!?! HAHA) as to benefit from it you had to travel and spend a bunch. The JPMR has the 3X on food now along with the $300 travel expense. It just makes way more sense to have it over the CSR. I think my case may be a bit unusual though as the only way any of this is going down is because of my already in hand JPMS. I liked the card because of the hidden TL. Beyond that it did nothing for me. The JPMR actually retains many of the benefits of the saphire line and just throws in a couple added bonuses for the same AF.

Also, wouldn't the 100k equal $1000 cash back? I thought it was $1000 cash or $1500 in travel (hotel airfare etc)?

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

redpat — Thu, 15 Sep 2016 00:58:14 GMT

JPMR is in a different zip code than you are in OP. App for CRS and get your 100k sign-up bonus and be happy if you are not over 5/24. JPMR has United club access which is the biggest perk difference.

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

Anonymous — Thu, 15 Sep 2016 01:09:20 GMT

Redpat you are correct it truly is. Long term though seeing as how the AF is the same it may make more sense long term to just the JPMR?

The plan is to consolidate all cards to this card. You are forgetting about the hidden TL too, which has personally saved my ass on a couple occasions ymmv.

And to be clear I already have the CSR coming. I would close it once I got the bonus and move the credit to the JPMR along with the CSP. I spoke with them and they said that would not be a problem at all.

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

ezdoesit — Thu, 15 Sep 2016 02:46:46 GMT

What is the reason you want the JPMR so bad? Is it status? Does the JPMR have 3x travel and dining or 50% redemption bonus?

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

jsucool76 — Thu, 15 Sep 2016 02:48:08 GMT

JPMR has all the benefits of the standard CSR, plus united club access, and is also a full metal card. All for the same price.

Some other benefits included too.

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

wasCB14 — Thu, 15 Sep 2016 02:52:36 GMT

The United Club access sounds nice, but if someone has $2M, he or she can juggle brokerage promotions for several thousand dollars per year.

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

jsucool76 — Thu, 15 Sep 2016 02:53:50 GMT

There was apparently an application posted online by chase, that one could fill out and fax in themselves. Some people got apps in and then the fax # was closed down. If that was the case, I would've gone for it. but that is over now.

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

ezdoesit — Thu, 15 Sep 2016 02:54:09 GMT

@jsucool76 wrote:
JPMR has all the benefits of the standard CSR, plus united club access, and is also a full metal card. All for the same price.

Some other benefits included too.

I just looked it up it is pretty identical not like the Palladium. If I were the OP i would get the JPMR also. I also wouldn't close the other cards just PC them to ones with no AF. One to the Freedom and one to the Freedom U.

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

jsucool76 — Thu, 15 Sep 2016 02:56:36 GMT

Definitely stack the reserve card with a freedom and freedom unlimited. Easy way to maximize rewards all for no fees.

CSP doesn't need to keep a spot in your wallet anymore, as the CSR/JPMR all have a higher earning potential in the same categories.

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

Anonymous — Thu, 15 Sep 2016 04:33:42 GMT

@jsucool76 wrote:
There was apparently an application posted online by chase, that one could fill out and fax in themselves. Some people got apps in and then the fax # was closed down. If that was the case, I would've gone for it. but that is over now.

I saw that. I think only one person got approved though and the rest of the apps got canceled.

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

tacpoly — Thu, 15 Sep 2016 04:59:32 GMT

Are you allowed to combine Chase and JPM cards? if so, why not just consolidate everything to the JPM Reserve?

You can get your annual fee waived by your private banker. Minimum is $10M asset under management, or it will be.

But I don't understand why you need to penny-pinch on the fees and the rewards? if the card truly works for you and your spending pattern, it will work with and without the rewards. So just get it; get rid of your other Chase cards and be done with it. Surely you can afford to blow a few hundred dollars on fees one time - if only to spare yourself the angst.

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

austinguy907 — Thu, 15 Sep 2016 05:04:22 GMT

I think I'm going to call BS on this overly convoluted scheme to get a prestige card and buck the system for the AF that requires a net worth of over $2M in liquid assets. Something stinks with this posting and the 3 cup Monty trying to be pulled off to evade something that should / would be trivial and yet still holding a $500 Amazon CC. If the OP doesn't want to pay over $1K in AF's then don't carry the cards you don't need. If the OP wants the perks then figure out which 2 cards that don't overlap considerably and then find a way to make them work for the least amount of costs associated with carrying them.

OP - If you follow you're rationale of bait and switch with moving stuff around with Chase you're going to be right in the middle of an account closure and a financial review if you try to bounce rewards around like you're suggesting to evade the AF you agreed to on such accounts.

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

jsucool76 — Thu, 15 Sep 2016 05:38:46 GMT

@austinguy907 wrote:
I think I'm going to call BS on this overly convoluted scheme to get a prestige card and buck the system for the AF that requires a net worth of over $2M in liquid assets. Something stinks with this posting and the 3 cup Monty trying to be pulled off to evade something that should / would be trivial and yet still holding a $500 Amazon CC. If the OP doesn't want to pay over $1K in AF's then don't carry the cards you don't need. If the OP wants the perks then figure out which 2 cards that don't overlap considerably and then find a way to make them work for the least amount of costs associated with carrying them.

OP - If you follow you're rationale of bait and switch with moving stuff around with Chase you're going to be right in the middle of an account closure and a financial review if you try to bounce rewards around like you're suggesting to evade the AF you agreed to on such accounts.

I'll wholeheartedly agree with the portion of this post I highlighted in blue. High AF cards aren't for everyone. Doesn't mean you can't afford em, a lot of people just don't like to pay for something, that at the end of the day, is a piece of plastic (or metal).

I know a lot of people that balk at the fact that I pay almost 2k a year in fees. I get my value out of them, so I keep them. If you know what value you'll get out of the card, and you know it'll be worth it, then don't worry about the annual fee. If you're hesitant to pay the fee because you don't know that you'll get a worthy return, then don't do it.

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

Anonymous — Thu, 15 Sep 2016 05:41:17 GMT

Thread should probably be closed.

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

austinguy907 — Thu, 15 Sep 2016 05:45:37 GMT

@jsucool76 wrote:
@austinguy907 wrote:
I think I'm going to call BS on this overly convoluted scheme to get a prestige card and buck the system for the AF that requires a net worth of over $2M in liquid assets. Something stinks with this posting and the 3 cup Monty trying to be pulled off to evade something that should / would be trivial and yet still holding a $500 Amazon CC. If the OP doesn't want to pay over $1K in AF's then don't carry the cards you don't need. If the OP wants the perks then figure out which 2 cards that don't overlap considerably and then find a way to make them work for the least amount of costs associated with carrying them.

OP - If you follow you're rationale of bait and switch with moving stuff around with Chase you're going to be right in the middle of an account closure and a financial review if you try to bounce rewards around like you're suggesting to evade the AF you agreed to on such accounts.

I'll wholeheartedly agree with the portion of this post I highlighted in blue. High AF cards aren't for everyone. Doesn't mean you can't afford em, a lot of people just don't like to pay for something, that at the end of the day, is a piece of plastic (or metal).

I know a lot of people that balk at the fact that I pay almost 2k a year in fees. I get my value out of them, so I keep them. If you know what value you'll get out of the card, and you know it'll be worth it, then don't worry about the annual fee. If you're hesitant to pay the fee because you don't know that you'll get a worthy return, then don't do it.

1000% if you know the value then don't complain about it. If you're going to complain about it.... well I would think my signature tag line would apply. There's obviously something not right here to be discussing the AF's and juggling things around in such a complicated matter that will most likely result in AA if OP isn't as "valuable/profitable" to Chase as things look on the cover with the coveted cards mentioned.

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

Anonymous — Thu, 15 Sep 2016 06:39:37 GMT

Edit.

I am waiving my white flag

Simply put there is no need for two or three of the same card with high AF. Having one is fine with me and worth it. The plan was not to get the CSR to pay for the AF of both it is just turning out that way. I apped for it before I knew about the JPMR. So now I might as well use this to my benefit as best as possible. If the cards were drastically different in both AF and perks - then yes, I could see keeping both or not PC to the JPMR at all if I felt It was not worth it over the CSR.

Unless I am missing something? Long term, would there be a reason to keep the JPMR along with the CSR? It seems like they would just compete with eachother in almost everyway.

As far as getting a FR or account closure I don't see whay they would do that. If a customer has two or three of the exact same product and wants to make it one due to the AF, does that not make sense? Who likes throwing money away? It would make more sense if card A had $450 AF and had its set of benefits, then I get card B) with a $450 and it has a 100K sign up with drastically different benefits then to add, card C) Which I already had had its own benefits but slightly mirrored the others so it was not worht it in your eyes so you wanted to close or PC. In this situation cancelling the the card with the sign up (B) may be a red flag they are different products and clearly got it just for the Bonus as long term the cards perform differently. However, the reality is all 3 cards really are the exact same thing with same AF. It would make sense just to keep one.

Since I have to pay the AF for the CSR before I get the points then maybe I can wait to close or downgrade it.

How does simply closing a card affect you credit? Is it weigh minimally?

Re: CSR JP Morgan - Help Me Figure This Out PLS - THX!

Anonymous — Thu, 15 Sep 2016 06:43:55 GMT

I am guessing the PC ideas are becuase closing is somehow a ding in some way?

Since I already have the freedom, I was thinking I could PC the CSP to the CS and the CSR to the Freedom U then transfer most of the credit to the JPMR. Would that be a better move than simply closing them?