topic Re: Closed my Chase Sapphire Preferred today in-branch in Credit Cards

Closed my Chase Sapphire Preferred today in-branch

ptatohed — Sun, 05 Apr 2026 05:39:18 GMT

I was at our local Chase today because my son and I had an appointment to open a 'Teen Checking', for the $125 bonus offer, now that he is 13 (It's actually called 'High School Checking' (ages 13 - 17) and he's actually in Middle School but he is 13, and apparently we were able to open the account ).

Free $125 after 5 debit card purchases! Good for him. That whole process took about 50 minutes.

We were about to wrap up and say our goodbyes. But knowing my one year on my Sapphire Preferred (SP) card is coming up in May, and knowing I don't want to pay the second annual fee, and since I was already there, I asked the banker to close the card. I got the card last May only for the $1000 elevated welcome offer. I haven't used the card since I met the spending requirement summer of last year. She closed the card. That process took 10 minutes.

As some of you may know - and contrary to many of my fellow mFers - I have very little interest in what my Credit Limits (CL) are, so long as they're more than I need, which most all of my cards are with just the starting limits. The only CLI I have ever requested in my life was to increase my AOD from $5000 to $10000 (back when this was my primary non-cat card and there was no $1500/mo spend cap). But............ when she asked me if I want to move my SP CL over to my freedom, I figured why not? lol

So, first she moved over the 50 points I had on my SP to my OG freedom. Which I didn't quite understand as I thought both the SP and freedom earned Ultimate Reward (UR) points which are pooled? And why did I even have 50 points on my SP?

She was able to move the 50 points over to freedom on her computer but moving the SP Credit Limit over to freedom took a phone call. After the local banker explained to the rep what I wanted to do, she passed the phone to me to okay the request with the lady on the other end.

No questions at all as to why I was closing and no retention offers made.

So........ my largest CL of all my cards happens (happened) to be my Chase IHG One Rewards Premier at $35,000. I want to say it started at $32,000 so maybe I got some auto-CLs along the way? Well, now my largest CL is my Chase freedom OG at $35,700! I don't remember my existing CLs but I want to say freedom was around $13,000ish and Sapphire Preferred was around $23,000ish. Over $70,000 available credit with one lender seems excessive to me! lol

Anyway, just thought I'd share.

Re: Closed my Chase Sapphire Preferred today in-branch

ElvisCaprice — Sun, 05 Apr 2026 05:03:02 GMT

That's awesome, congratulations to your son and you! Beginning of a great finance education!

Same, I've never asked for a CLI. But I sure have, a CLD, if I plan on retaining the account, upon issuance, SL, to a modest CL that fullfills my expected max spend. Keeping plenty of potential SL overhead for, auto approvals, expanding the herd or churning.

Re: Closed my Chase Sapphire Preferred today in-branch

ElvisCaprice — Sun, 05 Apr 2026 05:24:12 GMT

Your due a new CC (close one, open another). Time to preapp for the Kroger Rewards.

Kroger Rewards World Elite Mastercard® | Home 1-2-3 REWARDS Credit Card

Re: Closed my Chase Sapphire Preferred today in-branch

ptatohed — Sun, 05 Apr 2026 06:19:32 GMT

@ElvisCaprice wrote:
Your due a new CC (close one, open another). Time to preapp for the Kroger Rewards.
Kroger Rewards World Elite Mastercard® | Home 1-2-3 REWARDS Credit Card

Yup. This one is always in the back of my mind EC but I'm not quite sure how exactly it will benefit me. I do use google pay a lot but that's almost exclusively when I am paying for my fast food orders through fast food apps. I have 3 citi Custom Cashes and one of them is relegated to fast food (and dining) for 5%. I never go over $500 a month (I would hope so, lol) on fast food (and dining) so I am good there. I refuse to have an actual 'mobile wallet' on my phone as I hate having a phone password. So I wouldn't be able to use it at any in-store POS. Can you think of another use for the Kroger card to get 5% where I would otherwise get 4% (Smartly) that won't require a phone password? Maybe on-line sites that let you check out with google pay? (e.g. Walmart, ebay, other sites?)

Re: Closed my Chase Sapphire Preferred today in-branch

ElvisCaprice — Sun, 05 Apr 2026 06:54:21 GMT

@ptatohed wrote:
@ElvisCaprice wrote:
Your due a new CC (close one, open another). Time to preapp for the Kroger Rewards.
Kroger Rewards World Elite Mastercard® | Home 1-2-3 REWARDS Credit Card

Yup. This one is always in the back of my mind EC but I'm not quite sure how exactly it will benefit me. I do use google pay a lot but that's almost exclusively when I am paying for my fast food orders through fast food apps. I have 3 citi Custom Cashes and one of them is relegated to fast food (and dining) for 5%. I never go over $500 a month (I would hope so, lol) on fast food (and dining) so I am good there. I refuse to have an actual 'mobile wallet' on my phone as I hate having a phone password. So I wouldn't be able to use it at any in-store POS. Can you think of another use for the Kroger card to get 5% where I would otherwise get 4% (Smartly) that won't require a phone password? Maybe on-line sites that let you check out with google pay? (e.g. Walmart, ebay, other sites?)

It really works best with the wallets for virtual payments. Yes, on Android to get the NFC working, you have to have some kind of a password or use thumbprint. I use a short 4 digit number and my thumbprint. Most of the time just the thumbprint. The mobile payment system/Wallet is a must first step with this CC for the 5%. Then I can pay my insurance in app using my phone wallet or google pay to get the 5%.

Does have a no FTF feature for travel.

Is it really necessary in your case? Probably not. A bigger SUB for churn would be better. Or in my thinking, get both. LOL

Thus I'm 6/6 on new accounts.

Re: Closed my Chase Sapphire Preferred today in-branch

ptatohed — Sun, 05 Apr 2026 07:08:31 GMT

My biggest on-line spend is Amazon (but I already get 5% there) and Walmart (Walmart+ grocery delivery). I could get the Walmart OnePay for 5% but 1.) I already get 4% minimum (Smartly) but 2.) Way more often than not, I'm using my citi ThankYou card for WM+ checkout anyway to meet some sort of spending offer (which far exceeds 5%). So, I have been reluctant in applying for the OnePay and/or the Kroger. :-|

Re: Closed my Chase Sapphire Preferred today in-branch

redpat — Sun, 05 Apr 2026 12:16:15 GMT

@ptatohed

Lol, you could have saved 10 minutes and closed it in less than 2 minutes online or on your phone app and moved the points yourself.

It's ridiculous how long it takes to open an account now. Chase is very slow.

Re: Closed my Chase Sapphire Preferred today in-branch

creditrizz — Sun, 05 Apr 2026 21:25:39 GMT

I had read on the forums that you were supposed to wait 365+ after opening a card that received a bonus before closing it, to avoid getting restricted from future bonus offers. I'm dumping the sapphire preferred too, but i was going to wait until the annual fee posted and then just cancel at that time since they'll refund it.

That said, Amex put me on the tempoary bonus blacklist just for rackig up too many bonuses in a short term even before I ever canceled any of their cards, so not sure the 365+ day rule always makes a difference.

Re: Closed my Chase Sapphire Preferred today in-branch

ElvisCaprice — Sun, 05 Apr 2026 22:05:10 GMT

@creditrizz wrote:
I had read on the forums that you were supposed to wait 365+ after opening a card that received a bonus before closing it, to avoid getting restricted from future bonus offers. I'm dumping the sapphire preferred too, but i was going to wait until the annual fee posted and then just cancel at that time since they'll refund it.

That said, Amex put me on the tempoary bonus blacklist just for rackig up too many bonuses in a short term even before I ever canceled any of their cards, so not sure the 365+ day rule always makes a difference.

There definitely isn't any penalty to your score or credit file.

There could be a SUB clawback but I'm having a hard time finding any real data points on this. Same with bank relationship and so called "Black Listing". Not finding real data points on this either. So, I'm calling bull. Could change my mind with some real data points if anyone could point me to where they exist. Hard to distinguish the real reasons from the few posts I've found on Reddit.

In the case of @ptatohed , he did it with a banker and I'm sure the banker would have advised him of adverse consequences if this was an issue.

Re: Closed my Chase Sapphire Preferred today in-branch

ptatohed — Sun, 05 Apr 2026 22:07:29 GMT

There aren't too many times where I got an AF card just for the bonus and then cancelled to avoid year 2 AF but, the several times I have done it, I always cancel in month 11 no problem.

P.S. I have a pretty good relationship with the local Chase staff (I think being Private Client helps) so I basically told her I was attracted to the card for the high Welcome Offer but then found myself not using the card, and she replied that most people get the bonus and then close the card! lol

Re: Closed my Chase Sapphire Preferred today in-branch

redpat — Mon, 06 Apr 2026 14:13:25 GMT

Chase has set a low bar for private clients $150,0000.....We have been rolling 2 and 3 month @ 3.75% - 4.00% CDs with them, I've experienced nothing special other than the same good customer service, in the bank and online. I would compare Chase private clients to Marriott's gold, everyone has it.

Re: Closed my Chase Sapphire Preferred today in-branch

ptatohed — Mon, 06 Apr 2026 15:22:35 GMT

@redpat wrote:
Chase has set a low bar for private clients $150,0000.....We have been rolling 2 and 3 month @ 3.75% - 4.00% CDs with them, I've experienced nothing special other than the same good customer service, in the bank and online. I would compare Chase private clients to Marriott's gold, everyone has it.

I've been very unimpressed with Chase PC lately. Nothing special. I don't know why but I felt obligated to maintain the PC level some years ago when I pulled out all my money but $150,000 just to stay PC. I put it in a state tax-free T-Bill, now worth $165,000. But after 3 years, I realize I could have done better investing elsewhere. I really miss the Arts & Culture card. We used it a lot to take the kids to free / reduced price places such as the Discovery Cube Science Center, La Brea Tar Pits, etc. They need to bring that back. Or do something to justify choosing them over another bank.

Re: Closed my Chase Sapphire Preferred today in-branch

ptatohed — Mon, 06 Apr 2026 15:43:59 GMT

@redpat wrote:
Chase has set a low bar for private clients $150,0000.....We have been rolling 2 and 3 month @ 3.75% - 4.00% CDs with them, I've experienced nothing special other than the same good customer service, in the bank and online. I would compare Chase private clients to Marriott's gold, everyone has it.

Curious, what's the point of short-term CDs that are no better than the best savings accounts out there?

ex. https://www.lendingclub.com/personal-banking/savings/high-yield-savings

Re: Closed my Chase Sapphire Preferred today in-branch

redpat — Mon, 06 Apr 2026 20:42:07 GMT

@ptatohed wrote:
@redpat wrote:
Chase has set a low bar for private clients $150,0000.....We have been rolling 2 and 3 month @ 3.75% - 4.00% CDs with them, I've experienced nothing special other than the same good customer service, in the bank and online. I would compare Chase private clients to Marriott's gold, everyone has it.

Curious, what's the point of short-term CDs that are no better than the best savings accounts out there?

ex. https://www.lendingclub.com/personal-banking/savings/high-yield-savings

No games of depositing monthly, direct deposits or other things they want you to do. 4% rolling 2 month cds isn't bad and I ladder them, set it and forget it. Most of our disposable income goes into our UBS account, again set it and forget it.

Re: Closed my Chase Sapphire Preferred today in-branch

RobertS2 — Mon, 06 Apr 2026 22:47:55 GMT

Sounds like a very efficient trip! Congrats. And good work showing your son the ropes!!

Re: Closed my Chase Sapphire Preferred today in-branch

ptatohed — Tue, 07 Apr 2026 01:38:59 GMT

@redpat wrote:
@ptatohed wrote:
@redpat wrote:
Chase has set a low bar for private clients $150,0000.....We have been rolling 2 and 3 month @ 3.75% - 4.00% CDs with them, I've experienced nothing special other than the same good customer service, in the bank and online. I would compare Chase private clients to Marriott's gold, everyone has it.

Curious, what's the point of short-term CDs that are no better than the best savings accounts out there?

ex. https://www.lendingclub.com/personal-banking/savings/high-yield-savings

No games of depositing monthly, direct deposits or other things they want you to do. 4% rolling 2 month cds isn't bad and I ladder them, set it and forget it. Most of our disposable income goes into our UBS account, again set it and forget it.

Well, I guess our definitions of 'game' and 'set and forget' are the exact opposite! lol I would hardly call setting up automated monthly contributions one time to a HYSA a 'game'. It's smart investing! And that Lending Club Level Up HYSA was just one example, there are HYSAs that don't require any ongoing contributions that earn just as much as the CDs you are talking about. Curious, how is a CD ladder set and forget? Every time one matures, you have 10 days to make a decision - cash out or buy a new CD, right? And you're doing this with short term CDs so it sounds like you need to make these decisions all the time? For me, personally, I'm done with CDs. Too many times I have missed that stupid 10 day window and the CD renews at the exact same length but at the then-current rate and, a few times, those rates have been less than ideal. And the penalty for early termination is too steep. I'd rather keep my cash liquid in a HYSA earning high 3s / low 4% while HYSA rates are still decently high.

Re: Closed my Chase Sapphire Preferred today in-branch

redpat — Tue, 07 Apr 2026 10:31:15 GMT

@ptatohed

lol, smart investing, you're talking to the wrong guy, UBS wealth management does the lion share of our portfolio, not including my 401k another lion share. My hysa is with E*Trade 3.35%.

My auto rollerover cds have been consistent @3.75 and 4.00 and if the rates drop too much it's only a two month window for that one and I will then stop my.renewals the following months. I use the same opening day of the month for all of them so I don't have to remember dates.

How much would you give lending tree? My CDs are not small ones for the 4%.

Re: Closed my Chase Sapphire Preferred today in-branch

AndySoCal — Tue, 07 Apr 2026 17:53:56 GMT

@redpat @Depends on what terms you are looking I would suggest Veridian Credit Union open to all just a TU soft pull . Also Hughes credit union can be joined via Financial Fitness Accociation. $8.00 to join . Both good short and long term rates

Re: Closed my Chase Sapphire Preferred today in-branch

ptatohed — Thu, 09 Apr 2026 09:55:00 GMT

@redpat wrote:
@ptatohed

lol, smart investing, you're talking to the wrong guy, UBS wealth management does the lion share of our portfolio, not including my 401k another lion share. My hysa is with E*Trade 3.35%.

My auto rollerover cds have been consistent @3.75 and 4.00 and if the rates drop too much it's only a two month window for that one and I will then stop my.renewals the following months. I use the same opening day of the month for all of them so I don't have to remember dates.

How much would you give lending tree? My CDs are not small ones for the 4%.

Understood, understood. Still, not totally sure that counts as 'set and forget'?