topic Re: Chase CSP to CSR upgrade?? in Credit Cards

Chase CSP to CSR upgrade??

Anonymous — Thu, 03 Oct 2019 19:55:12 GMT

Hi all,

I currently have the CSP and coming up to my first year with it (Nov). I haven’t paid an annual fee yet but I was wondering if upgrading to the CSR makes sense. I can justify the annual fee but was more concerned about this:

Will the clock on sign up bonus eligibility for the “SAPPHIRE” product be reset if I upgrade to CSR? I was thinking of holding CSP for 3 more years then cancelling and getting CSR for another SUB. But I wanted to know if the clock resets if I upgrade/downgrade the card in the coming months.

Re: Chase CSP to CSR upgrade??

Anonymous — Thu, 03 Oct 2019 21:21:18 GMT

Upgrades = no SUB

If you want to wait 3 years w/o UR's on the CSP level it's an option. up/down movements don't typically change the timer w/ Chase. If you want to know for 100% then SM Chase and ask them directly.

Citi they do.

Re: Chase CSP to CSR upgrade??

Anonymous — Thu, 03 Oct 2019 21:26:31 GMT

Thank you.

To clarify, I know upgrading means no SUB, but does it mean the “48 month timeline” for getting a SUB from a Chase Sapphire product resets when I product change? I want to make sure I’ll still be eligible for a SUB 4 years from when I received my last Sapphire SUB. I’ll check with Chase on this as well but wanted your thoughts!

Also, if my credit line is under 10K and they upgrade me, will I need to ask for a CLI or move credit from another card? Or will they just give me the CSR

Re: Chase CSP to CSR upgrade??

Remedios — Thu, 03 Oct 2019 21:30:46 GMT

It's 48 months from when you received SUB initially

No, they wont just give you CSR. You'll have to reallocate or attempt HP CLI

Re: Chase CSP to CSR upgrade??

wasCB14 — Thu, 03 Oct 2019 21:36:48 GMT

Keep in mind that SUB eligibility rules can change at any time. We can tell you what the rules are now, but not what they will be in three years. In three years, it's possible Chase will care about when you closed an account.

Re: Chase CSP to CSR upgrade??

Anonymous — Thu, 03 Oct 2019 22:51:34 GMT

Do you think it’s worth it to upgrade? I have decent travel and dining spend. I’ll use all benefits except overlap with Amex Hilton on Priority pass.

Re: Chase CSP to CSR upgrade??

Anonymous — Thu, 03 Oct 2019 23:37:31 GMT

It's one of the top 5 around here if you have the right spend for it. Missing out on the SUB vs making UR's off the spend is the question....

Sure, the SUB is nice but, it covers the cost of the AF and then a little bit more for travel cost reduction.... but, if you're spending enough the benefits make up for the loss of the SUB pretty quickly.

Re: Chase CSP to CSR upgrade??

Anonymous — Fri, 04 Oct 2019 00:03:16 GMT

I don’t understand. I’ve already gotten the CSP sub so I can’t get the CSR anyways now

Re: Chase CSP to CSR upgrade??

Aim_High — Fri, 04 Oct 2019 15:53:08 GMT

@Anonymous wrote:
I currently have the CSP and coming up to my first year with it (Nov). I haven’t paid an annual fee yet but I was wondering if upgrading to the CSR makes sense. I can justify the annual fee but was more concerned about this:

Will the clock on sign up bonus eligibility for the “SAPPHIRE” product be reset if I upgrade to CSR? I was thinking of holding CSP for 3 more years then cancelling and getting CSR for another SUB. But I wanted to know if the clock resets if I upgrade/downgrade the card in the coming months.

I see two questions here and I think there may be a little confusion mixing them up on the replies.

(1) Does upgrading to CSR from CSR at the one year point make sense?

(2) Will I reset my 48-month Sapphire clock with Chase if I do a PC, which will affect my ability to get a SUB until farther in the future?

My answers.

(Question 1): It probably makes sense, regardless what it does to your SUB.

So when @Obscure-Expert wrote: "Sure, the SUB is nice but, it covers the cost of the AF and then a little bit more for travel cost reduction.... but, if you're spending enough the benefits make up for the loss of the SUB pretty quickly," I think he was saying that doing the PC now will reap enough rewards over the next few years that it will negate the effects of a potential loss of SUB. Because depending on spend level, the CSR is quite a bit more lucrative card than the CSP.

I have CSR and studied the CSP in comparison before applying. IMO, the CSR is probably more appropriate and attainable for a large part of the population that chooses to carry the CSP than they realize because they are scared off by the face-value of the $450 AF. In reality, the card can easily pay for itself and then some for the right consumer.

Read my CSR/CSP commentary at the link here:

https://ficoforums.myfico.com/t5/Credit-Cards/Is-Chase-Sapphire-Preferred-credit-card-worth-it/m-p/5680886#M1655473

(Question 2): Chase website says, "This product is available to you if you do not have any Sapphire card and have not received a new cardmember bonus for any Sapphire card in the past 48 months." So the way I read that, with the current rules, you could hold the CSP (OR an upgraded CSR without a SUB) for 48 months, cancel it, and then reapply for a new card for the SUB. Personally I would never do that. It's blatantly obvious what you're doing and they know it. I know some like to churn SUBs but I value my CSR (and the associated quadfecta cards) and would never want to jeopardize my relationship with Chase over questionable pushing of the policy. Sure it's "legal" but it's right up to their limits. But nothing says they have to approve you for another card right away either. You could just be without any Sapphire card. And as some have pointed out, the policies can change over time, so the rules today may not be the rules tomorrow.

Re: Chase CSP to CSR upgrade??

calyx — Fri, 04 Oct 2019 15:02:30 GMT

I have the CSP because I thought I would not qualify for the CSR when I applied and my travel spend is a bit low at the moment so I didn't think I'd be missing much. I'll be doing the same - upgrading to the CSR at about a year, because my travel & dining spend should pick up again right about that time.

Whether it's worth it or not is up to your spend - it will be for me. If you've done the math and think it works - go for it!

I have a high enough CL for it, but yes, if you have less than 10k, you'll either have to take the HP for a CLI (and hope you get it) or reallocate from another Chase card. Personally, I would take the HP for a new product (assuming you're under 5/24 and think chase would like to extend more credit - it would be better to go into a branch to see if you're prequaled there), and reallocate from that card rather than try for a CLI. YMMV.

Currently, it does not reset the bonus timeline, so in 3 years, or whenever, you would need to PC your card to a non-Sapphire product and apply for a Sapphire product again (again, assuming nothing changes).

Re: Chase CSP to CSR upgrade??

barthooper — Fri, 04 Oct 2019 15:15:26 GMT

IMO it's worth it even without the SUB due to the higher earning on travel and 1.5x multiplier via buying through the UR portal if you're not going to transfer to travel partners. The CSR's fee is barely more than the CSP when factoring in the travel credit (making it $150) which is extremely versatile and tolls or parking garages count for it as well in most cases.

Re: Chase CSP to CSR upgrade??

Anonymous — Fri, 04 Oct 2019 16:06:10 GMT

If you travel or dine out at all, it's worth it.

Basically the difference in the two cards is $55 a year; counting global entry it's $35 a year. Not even counting the different redemption rate at the chase portal that you wouldn't have access to with the CSP, $35 is ~2333 a year on travel and dining (or <$200 a month).

Re: Chase CSP to CSR upgrade??

wasCB14 — Fri, 04 Oct 2019 17:52:17 GMT

@Anonymous wrote:
Do you think it’s worth it to upgrade? I have decent travel and dining spend. I’ll use all benefits except overlap with Amex Hilton on Priority pass.

Which one do you have...Surpass, Aspire, or the Hilton Business Amex?

Re: Chase CSP to CSR upgrade??

Anonymous — Fri, 04 Oct 2019 18:13:23 GMT

Aspire.

Re: Chase CSP to CSR upgrade??

wasCB14 — Fri, 04 Oct 2019 18:50:34 GMT

@Anonymous wrote:
Aspire.

How you value Hilton points vs. URs is also worth considering.

Flights, car rentals, and restaurants earn 7x with Hilton Aspire. I'd much rather have 3x URs and might even take 2x URs, but I very rarely stay at Hilton.

Re: Chase CSP to CSR upgrade??

Anonymous — Fri, 04 Oct 2019 19:31:51 GMT

Agreed. I think I’ll call Amex and see if they’re willing to give me a retention offer when my card renews in February. If they don’t give me an offer or it’s not worth it, I’ll downgrade to the no annual fee card and upgrade my CSP to keep travel benefits.