topic Re: Chase Sapphire Reserve $300 annual credit question in Credit Cards

Chase Sapphire Reserve $300 annual credit question

Anonymous — Wed, 28 Dec 2016 23:35:10 GMT

If I applied today I know I won't get the credit for 2016 year, but what are the average times it's taking for the first statement to generate? I want to make sure I can get both 2017 and 2018 annual credits before year 2 AF hits. I know I could wait a few more days to play it safe but a family member is negotiating a collection and once they come to an agreement they'll need payment asap which could be any day now so I don't want to risk not having the card.

Can someone shed light on if I'd be ok with both 2017/2018 credit before the second AF hits?

Thanks

Re: Chase Sapphire Reserve $300 annual credit question

Anonymous — Wed, 28 Dec 2016 23:45:36 GMT

It varies. I got my fee on the second statement and if you apply early 2017, you will get 2017 / 18 before the second annual fee. For instance, in the first month I had the card, I bought Delta gift cards and the moment it posted, Chase credited me the $300 all on the first statement.

So if you are strategic and time it properly, it will work well in your favor.

Re: Chase Sapphire Reserve $300 annual credit question

Anonymous — Thu, 29 Dec 2016 00:06:08 GMT

That's what I did for Ritz back in 2015 and got both 15/16 credits then closed it. Bought AA gift cards each time in $75 increments then called for a reimbursement.

So I applied and in my haste completely forgot about the stupid 5/24 rule. It's been almost 2 years since I've applied for anything but it hasn't been quite two years yet. January will be two years. So I got an auto denial. I was shocked because I've always got instant approvals my entire credit life so when I called backdoor number to find out why I felt like an idiot. I should have known and I should have waited. But oh well most will drop off in the next month.

Does Chase do a HP for auto denials for 5/24? I'm sure they do but I'm hoping they don't.

Re: Chase Sapphire Reserve $300 annual credit question

newhis — Thu, 29 Dec 2016 00:09:19 GMT

The $300 annual credit will reset when your statement closes in December 2017, as the rules are today. I don't think they will change the rules but you never know.

So you can apply for the card, then change the close date for early in the month, say the 5th. Then on December 6th 2017 you can use the 2018 $300 credit, or maybe even the 5th. I guess your second AF will not be due until January 5th.

Re: Chase Sapphire Reserve $300 annual credit question

Anonymous — Thu, 29 Dec 2016 01:51:19 GMT

Interesting question. I wonder if someone can tell me what will happen with mine I got my card in early dec already hit the 300 travel credit my first statement cut dec 28 so will it reset in 2017 will I have 300$ more next week or did I miss the boat?

Re: Chase Sapphire Reserve $300 annual credit question

newhis — Thu, 29 Dec 2016 06:28:24 GMT

@Anonymous wrote:
Interesting question. I wonder if someone can tell me what will happen with mine I got my card in early dec already hit the 300 travel credit my first statement cut dec 28 so will it reset in 2017 will I have 300$ more next week or did I miss the boat?

If the statement close is December 28, then you can charge $300 from December 29 2016 until December 24 2017 (just to make sure) to get your $300 for 2017.

If during 2017 you change your due date, to make your close date change to early in the month, say the 5th, then you will be able to charge $300 after December 5th 2017 for your 2018 credit.

Maybe you can even see the $300 reset right now online.