topic Re: CSR $300 credit details in Credit Cards

CSR $300 credit details

Anonymous — Mon, 24 Oct 2016 04:32:00 GMT

I'm considering applying for the CSR before the end of the year to get 2x$300 credits plus the bonus within my first few months. I just want to confirm that this will work:

1. Get card before end of year

2. In December, purchase some travel stuff for a trip in 2017.

3. In December, apply the $300 credit to those items.

4. In January, receive new $300 credit.

5. Spend on travel, apply new credit.

6. Receive bonus, use it.

7. Decide whether to keep the card before AF comes again.

Of course this is all assuming I would be approved, but I want to plan it right anyway. I'm at 4/24, and I expect my scores to improve a bit in the next few weeks.

Oh, also, does anyone have an up to date list of pulls for the CSR? I'm hoping they won't pull EQ in PA.

Re: CSR $300 credit details

grillandwinemaster — Mon, 24 Oct 2016 04:52:33 GMT

I can't imagine Chase giving you two back to back $300 credits without you having 12 months in between. I doubt there basing the credits on a calendar year vs your account anniversary year.

But I'm just speculating here as I don't have hard evidence...

Best credit wishes to you!

Re: CSR $300 credit details

Anonymous — Mon, 24 Oct 2016 04:59:58 GMT

@grillandwinemaster wrote:
I can't imagine Chase giving you two back to back $300 credits without you having 12 months in between. I doubt there basing the credits on a calendar year vs your account anniversary year.

But I'm just speculating here as I don't have hard evidence...

Best credit wishes to you!

I had read multiple places that is was indeed calendar year. And I just found this, which seems to confirm my plan will work:
http://dealswelike.boardingarea.com/2016/09/01/chase-sapphire-reserve-300-travel-credit-work/

Re: CSR $300 credit details

noobody — Mon, 24 Oct 2016 05:01:20 GMT

It IS based on calendar year when statement is generated
You have to make enough travel charge on Nov, so you will get 300 credit automatically on December statement.
Next year, you will have 10 month to get another 300 before AF post.
BUT, it you do this and cancel the card before 2nd AF, I bet Chase will remember it.

Re: CSR $300 credit details

Anonymous — Mon, 24 Oct 2016 05:17:30 GMT

@noobody wrote:
It IS based on calendar year when statement is generated
You have to make enough travel charge on Nov, so you will get 300 credit automatically on December statement.
Next year, you will have 10 month to get another 300 before AF post.
BUT, it you do this and cancel the card before 2nd AF, I bet Chase will remember it.

Thanks. Yeah, I'm sure they will remember. I think it will make sense for me to keep it. With my current spend, it works out to roughly break even, but honestly I'm looking for a travel card to encourage myself to travel more and not hoard quite so much into savings, so it'll likely work out.

Re: CSR $300 credit details

noobody — Mon, 24 Oct 2016 05:32:53 GMT

I think the blog is wrong, travel credit is NOT based on purchase date, rather based on statement date.

If you apply today, your 1st statement will be generated in December, which will show 100K bonus and travel credit if you make qualified purchase.

If you apply several weeks from now, you will get your 1st statement in January 2017.

But there is always 2018, we hope. haha

Re: CSR $300 credit details

Anonymous — Mon, 24 Oct 2016 06:06:51 GMT

@noobody wrote:
I think the blog is wrong, travel credit is NOT based on purchase date, rather based on statement date.

If you apply today, your 1st statement will be generated in December, which will show 100K bonus and travel credit if you make qualified purchase.

If you apply several weeks from now, you will get your 1st statement in January 2017.

But there is always 2018, we hope. haha

I agree. I think the blog is wrong on the dates. I'd have to do it within the next few days.

Re: CSR $300 credit details

Anonymous — Mon, 24 Oct 2016 06:22:57 GMT

@noobody wrote:
It IS based on calendar year when statement is generated
You have to make enough travel charge on Nov, so you will get 300 credit automatically on December statement.
Next year, you will have 10 month to get another 300 before AF post.
BUT, it you do this and cancel the card before 2nd AF, I bet Chase will remember it.

>You have to make enough travel charge on Nov, so you will get 300 credit automatically on December statement.

Any thing that codes as travel (incl hotels, taxis, airbnb, ubers, some tolls, etc) will be credited back on a per transaction basis until the $300 cap is reached. It doesn't have to be one $300 purchase nor does the $300 have to be reached before the credit is applied.

>Next year, you will have 10 month to get another 300 before AF post.

It's calendar year, not card anniversary years. So, 12 months beginning with the statement in January. If it takes 12 months to get $300 in travel spend though, the CSR might not be the right card.

Re: CSR $300 credit details

LuckyBird — Mon, 24 Oct 2016 06:31:20 GMT

No, the travel credit posts as soon as the travel transactions do. I got this card at the end of August and booked a hotel stay within the first few days of receiving the card. The charge was pending for a couple of days but as soon as it posted, the $300 travel credit posted right along with it on the same day, September 9. My first statement was generated on September 15.

Re: CSR $300 credit details

Anonymous — Mon, 24 Oct 2016 06:39:04 GMT

@LuckyBird wrote:
No, the travel credit posts as soon as the travel transactions do. I got this card at the end of August and booked a hotel stay within the first few days of receiving the card. The charge was pending for a couple of days but as soon as it posted, the $300 travel credit posted right along with it on the same day, September 9. My first statement was generated on September 15.

Awesome! Thank you for confirming that. I have three fraud inquiries coming off, a newly-zero balance card statement closing, and a big loan payment reporting all in the next few days, and it seems like they won't pull EQ on me, so this could work out for me.

Re: CSR $300 credit details

Anonymous — Mon, 24 Oct 2016 07:02:46 GMT

One other thing to note: CSR is a Visa Infinite card, so the minimum credit line is 10K. Based on the other cards in your sig this seems attainable, but if you think it is not (FICO score or income) that would be something to keep in mind before you commit a hard pull.

Re: CSR $300 credit details

LuckyBird — Mon, 24 Oct 2016 07:06:16 GMT

@Anonymous wrote:
@LuckyBird wrote:
No, the travel credit posts as soon as the travel transactions do. I got this card at the end of August and booked a hotel stay within the first few days of receiving the card. The charge was pending for a couple of days but as soon as it posted, the $300 travel credit posted right along with it on the same day, September 9. My first statement was generated on September 15.

Awesome! Thank you for confirming that. I have three fraud inquiries coming off, a newly-zero balance card statement closing, and a big loan payment reporting all in the next few days, and it seems like they won't pull EQ on me, so this could work out for me.

They pulled EXP only for me, but I'm not sure if there's a geographical component with who they pull. I'm in GA.

Re: CSR $300 credit details

Anonymous — Mon, 24 Oct 2016 07:11:28 GMT

@Anonymous wrote:
One other thing to note: CSR is a Visa Infinite card, so the minimum credit line is 10K. Based on the other cards in your sig this seems attainable, but if you think it is not (FICO score or income) that would be something to keep in mind before you commit a hard pull.

Income is 82k. That should be fine, right?

Re: CSR $300 credit details

Anonymous — Mon, 24 Oct 2016 07:15:02 GMT

@LuckyBird wrote:
@Anonymous wrote:
@LuckyBird wrote:
No, the travel credit posts as soon as the travel transactions do. I got this card at the end of August and booked a hotel stay within the first few days of receiving the card. The charge was pending for a couple of days but as soon as it posted, the $300 travel credit posted right along with it on the same day, September 9. My first statement was generated on September 15.

Awesome! Thank you for confirming that. I have three fraud inquiries coming off, a newly-zero balance card statement closing, and a big loan payment reporting all in the next few days, and it seems like they won't pull EQ on me, so this could work out for me.
They pulled EXP only for me, but I'm not sure if there's a geographical component with who they pull. I'm in GA.

There generally is a difference between states, but it seems like Chase avoids EQ mostly, and I checked credit boards and found no recent reports of EQ pulls in PA from Chase, though there were no CSR reports in PA.

Re: CSR $300 credit details

Anonymous — Mon, 24 Oct 2016 13:28:33 GMT

Okay let's get this straight. So it's based on calendar year. So the $300 travel credit resets for everyone on January? So everyone who wants to make sure they use up their travel credit this year before the reset should do so no later than their last December statement correct? So anything in the up coming December statement and back/past counts. So after your December statement cuts and moving forward is on the New Travel credit?

Re: CSR $300 credit details

Anonymous — Mon, 24 Oct 2016 13:40:42 GMT

@Anonymous wrote:
Okay let's get this straight. So it's based on calendar year. So the $300 travel credit resets for everyone on January? So everyone who wants to make sure they use up their travel credit this year before the reset should do so no later than their last December statement correct? So anything in the up coming December statement and back/past counts. So after your December statement cuts and moving forward is on the New Travel credit?

Yes, it's based on the calendar year and the travel credit has nothing to do with statement dates. If the charge posts in 2016, then you will be credited for the charge against the 2016 reimbursement. If it doesn't post until 2017, then the 2017 credit will have to be used.

Re: CSR $300 credit details

Anonymous — Mon, 24 Oct 2016 14:24:23 GMT

@Anonymous wrote:
@Anonymous wrote:
Okay let's get this straight. So it's based on calendar year. So the $300 travel credit resets for everyone on January? So everyone who wants to make sure they use up their travel credit this year before the reset should do so no later than their last December statement correct? So anything in the up coming December statement and back/past counts. So after your December statement cuts and moving forward is on the New Travel credit?
Yes, it's based on the calendar year and the travel credit has nothing to do with statement dates. If the charge posts in 2016, then you will be credited for the charge against the 2016 reimbursement. If it doesn't post until 2017, then the 2017 credit will have to be used.

OK, that's different from what is said in some other places. So you are saying that if the charge posts say Dec 22, and appears on my statement dated Jan 5, 2017, that counts for 2016? Other sources say it will come out of 2017

Re: CSR $300 credit details

Anonymous — Mon, 24 Oct 2016 14:35:51 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Okay let's get this straight. So it's based on calendar year. So the $300 travel credit resets for everyone on January? So everyone who wants to make sure they use up their travel credit this year before the reset should do so no later than their last December statement correct? So anything in the up coming December statement and back/past counts. So after your December statement cuts and moving forward is on the New Travel credit?
Yes, it's based on the calendar year and the travel credit has nothing to do with statement dates. If the charge posts in 2016, then you will be credited for the charge against the 2016 reimbursement. If it doesn't post until 2017, then the 2017 credit will have to be used.
OK, that's different from what is said in some other places. So you are saying that if the charge posts say Dec 22, and appears on my statement dated Jan 5, 2017, that counts for 2016? Other sources say it will come out of 2017

Here are the terms straight from Chase:

https://creditcards.chase.com/a1/sapphire/reserve/offer-details

Relevant quote: "up to $300 in statement credits annually (“annually” means the year beginning with your account open date through the first December statement date of that same year, and each 12 billing cycles starting after your December statement date through the following December statement date)."

The credits apply immediately after a valid charge is added to the balance. I personally take "December statement" to mean a statement cut in December. That's probably the most conservative way to calculate that. To be safe, just make the relevant charges well before end of Nov.

Re: CSR $300 credit details

Anonymous — Mon, 24 Oct 2016 17:36:39 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Okay let's get this straight. So it's based on calendar year. So the $300 travel credit resets for everyone on January? So everyone who wants to make sure they use up their travel credit this year before the reset should do so no later than their last December statement correct? So anything in the up coming December statement and back/past counts. So after your December statement cuts and moving forward is on the New Travel credit?
Yes, it's based on the calendar year and the travel credit has nothing to do with statement dates. If the charge posts in 2016, then you will be credited for the charge against the 2016 reimbursement. If it doesn't post until 2017, then the 2017 credit will have to be used.
OK, that's different from what is said in some other places. So you are saying that if the charge posts say Dec 22, and appears on my statement dated Jan 5, 2017, that counts for 2016? Other sources say it will come out of 2017

As posted above it is credited by the date that it posts and in your scenario would count towards 2016. At least that is my understanding

Re: CSR $300 credit details

Anonymous — Mon, 24 Oct 2016 17:49:25 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Okay let's get this straight. So it's based on calendar year. So the $300 travel credit resets for everyone on January? So everyone who wants to make sure they use up their travel credit this year before the reset should do so no later than their last December statement correct? So anything in the up coming December statement and back/past counts. So after your December statement cuts and moving forward is on the New Travel credit?
Yes, it's based on the calendar year and the travel credit has nothing to do with statement dates. If the charge posts in 2016, then you will be credited for the charge against the 2016 reimbursement. If it doesn't post until 2017, then the 2017 credit will have to be used.
OK, that's different from what is said in some other places. So you are saying that if the charge posts say Dec 22, and appears on my statement dated Jan 5, 2017, that counts for 2016? Other sources say it will come out of 2017
As posted above it is credited by the date that it posts and in your scenario would count towards 2016. At least that is my understanding

I would think (“annually” means the year beginning with your account open date through the first December statement date of that same year, and each 12 billing cycles starting after your December statement date through the following December statement date)."

suggests the opposite, but OK!