topic Re: About to hit my CSP SUB ! in Credit Cards

About to hit my CSP SUB !

Mdowning30 — Mon, 22 Aug 2022 11:30:48 GMT

I'm about $1K away from hitting the SUB for the 80,000 bonus points. This one was pretty slow for me to reach and had to do some strategic extra spending, but I really want the bonus and only have until 9/1. Whatever balance on the CSP I can't pay off right away I will transfer the balance to my CSP, hence why I raised the CL on that card.

Re: About to hit my CSP SUB !

coldfusion — Mon, 22 Aug 2022 11:59:05 GMT

I suspect you fatfingered and really meant that your plan is to BT to your Freedom Unlimited card, as that's the one that got the recent CLI.

If that is the case you'll want to read this: https://www.chase.com/personal/credit-cards/balance-transfer-faq

"Balance transfers may not be used to pay other credit cards or loans issued by JPMorgan Chase Bank, N.A. or any of our affiliates."

Re: About to hit my CSP SUB !

Mdowning30 — Mon, 22 Aug 2022 12:02:31 GMT

@coldfusion yes that's exactly what I meant transfer most of the balance onto the CFU, I have 0% Interest until April 2023.

Re: About to hit my CSP SUB !

coldfusion — Mon, 22 Aug 2022 12:11:08 GMT

Yeah, can't do it. It's a general practice across issuers to not allow balance transfers between cards that they themself issued. It isn't a Chase-being-Chase-because-they-can thing.

Re: About to hit my CSP SUB !

Jnbmom — Mon, 22 Aug 2022 12:16:48 GMT

@coldfusion wrote:
Yeah, can't do it. It's a general practice across issuers to not allow balance transfers between cards that they themself issued. It isn't a Chase-being-Chase-because-they-can thing.

💯 right . You can not do that .

Re: About to hit my CSP SUB !

Remedios — Mon, 22 Aug 2022 13:21:46 GMT

Well, technically they can but shouldn't.

Chase will offer to send BT funds to "pay from account", therefore money would go to the checking and from there it's same as if they mailed a check.

Now, as far as whether they should pay Chase with that money, that's a whole another story.

I know that many have done this, and I'm not sure if Chase would care, but I personally wouldn't do it, I'd like to keep my cards so I wouldn't mess with T&C

Re: About to hit my CSP SUB !

OmarGB9 — Mon, 22 Aug 2022 13:58:44 GMT

If you had to do "strategic extra spending" and struggled to hit the SUB, I kind of wonder whether this card and its intended use/benefits is a good fit for you.

Also, you can't BT from one Chase card to another, as mentioned above. Even if you get creative and used the BT check thing, Chase may catch on and shut you down.

Re: About to hit my CSP SUB !

bigseegar — Mon, 22 Aug 2022 14:04:04 GMT

@Mdowning30 wrote:
I'm about $1K away from hitting the SUB for the 80,000 bonus points. This one was pretty slow for me to reach and had to do some strategic extra spending, but I really want the bonus and only have until 9/1. Whatever balance on the CSP I can't pay off right away I will transfer the balance to my CSP, hence why I raised the CL on that card.

I mean not my business and not my circus. But if you're having to carry balances instead of PIF (which also increses your UTL) and then also transfer to other cards cause you can't PIF. Then I'd have to question if the SUBS are worth it and/or a good financial move on my part if it were me. Also like others of said Chase to Chase BT is dangerous ground.

Re: About to hit my CSP SUB !

calisig — Mon, 22 Aug 2022 16:11:22 GMT

@Mdowning30 wrote:
transfer most of the balance onto the CFU, I have 0% Interest until April 2023.

I'm not sure what amount you are considering for balance transfer, but even with 0% interest for 8 months, I suspect there will be a BT fee, on average 4%, that will cut into your SUB - making it less worth while. Maybe this doesn't apply to you, but luring consumers in with SUBs to get them locked into eventually paying high credit card interest is more often than not a win for the bank and a big L for the consumer. But maybe you'll still come out ahead with $700 instead of $800.

Sometimes I feel like SUB chasing is encouraged and respected on this forum, but I think SUB chasing is not the best strategy for pursuing cards, and is not for me. I view SUBs as just an added bonus for one's organic card strategy - nothing more. I think chasing SUBs can sidetrack one from achiving base cards that would better suit one's strategy in the long run. Good luck with your strategy.

Re: About to hit my CSP SUB !

Credit12Fico — Mon, 22 Aug 2022 16:22:48 GMT

You don't think that Chase would find it funny that the exact amount of your balance transfer shows up as a payment to another Chase account?

Re: About to hit my CSP SUB !

Remedios — Mon, 22 Aug 2022 16:24:40 GMT

@Mdowning30 why not BT it to your Discover, or did you already used Discover's BT offer?

Re: About to hit my CSP SUB !

Mdowning30 — Mon, 22 Aug 2022 18:26:55 GMT

I don't have an offer available on my Discover and thank you guys for the BT info I didn't know about that. I will figure it out.

Re: About to hit my CSP SUB !

CreditCuriosity — Mon, 22 Aug 2022 19:03:09 GMT

Gotta question on logic on have said card and getting sub if need to carry balance and BT it off. I guess it really doesn't make sense to me, but as long as you walk away with say $500-600 dollars after all said and done you are ahead. Just don't go into debt to meet spend is my theory always. In future might want to look at cards with lower spend thresholds and as a result lower bonuses so this isn't an issue in the future. Just my 2 cents although know it wasn't asked for.

Re: About to hit my CSP SUB !

Mdowning30 — Tue, 23 Aug 2022 11:11:49 GMT

I mean hitting the sub would mean I can get $800-$1000 from the bonus points. But yeah the 6 month Amex subs are more comfortable to hit, $4000 in 3 months isn't natural for me and my normal spend.