topic Re: Why does everyone want CSP? in Credit Cards

Why does everyone want CSP?

Creditaddict — Sat, 27 Oct 2012 06:01:51 GMT

All I see these days are Amex, Freedom and CSP!

Why is it everyone's goal lately to have CSP? Especially if you don't travel a lot... do the rewards transfer out to be better than Amex Costco 3% on Restaurants and 2% Gas or 1:1 or 1:1.5 you get with Navy Cash?

Re: Why does everyone want CSP?

Anonymous — Sat, 27 Oct 2012 06:08:25 GMT

Maybe cuz it metal. Idk. Idk anything about it except that it has an AF and rewards are points. The two things i stay away from. But maybe its not so bad

Re: Why does everyone want CSP?

Creditaddict — Sat, 27 Oct 2012 06:12:18 GMT

@Anonymous wrote:
Maybe cuz it metal. Idk. Idk anything about it except that it has an AF and rewards are points. The two things i stay away from. But maybe its not so bad

Is it really metal.. Must have at ONCE!!

I love what you know!!

Re: Why does everyone want CSP?

Anonymous — Sat, 27 Oct 2012 06:13:39 GMT

Metal and it looks like a sapphire stone, WHOA!!!!

Re: Why does everyone want CSP?

distantarray — Sat, 27 Oct 2012 06:16:39 GMT

@Creditaddict wrote:
All I see these days are Amex, Freedom and CSP!

Why is it everyone's goal lately to have CSP? Especially if you don't travel a lot... do the rewards transfer out to be better than Amex Costco 3% on Restaurants and 2% Gas or 1:1 or 1:1.5 you get with Navy Cash?

1. not everyone can get into Navy

2. Yes Freedom and CSP is overall MUCH better than Amex Costco.

Especially when with a Trifecta (checking + freedom + CSP all through Chase)

Chase checking + freedom = 10 points extra for any purchase average of 1 use a day would get you atleast $35 a year

freedom has 5% catagories which are nice then transfered over to CSP and used on travel = 20% bonus = 5% becomes 6% catagories.

Also CSP is one of the few cards that has a zero foriegn transaction fees for travel, a metal card looks sexy for most people's opinions, customer service is great (actually talk to a human from the begining) and CSP also gives you a 7% annual bonus on CSP points earned through the year. (even already spent points)

CSP restaurant and travel is 2 points but with 20% more for travel and a 7% annual bonus = 2.57 points per dollar

Also the Ultimate reward malls are probably one of the best out of any credit card company.

So between getting 6 point out of 5% catagories with the combination +10 points extra + 7% bonus + 20% travel bonus it turns out quite nicely.

I also forgot to mention you can get upto $300 sign on bonus with Chase for checking, $100+ for Freedom , and 40,000 point bonus for Sapphire worth $500 in travel.

So that's $900+ bonus you can get just from signing up for the trifecta group.

Re: Why does everyone want CSP?

Anonymous — Sat, 27 Oct 2012 06:16:45 GMT

@Creditaddict wrote:
@Anonymous wrote:
Maybe cuz it metal. Idk. Idk anything about it except that it has an AF and rewards are points. The two things i stay away from. But maybe its not so bad
Is it really metal.. Must have at ONCE!!

I love what you know!!

Lol!

Re: Why does everyone want CSP?

jsickz32 — Sat, 27 Oct 2012 06:17:40 GMT

i want the card cuz its metal and for dinning. i eat out every single day because i cant cook at all. i have a forward for restaurants but im changing it tomorrow morning to the thankyou preferred since i asked and was told im elegible

Re: Why does everyone want CSP?

distantarray — Sat, 27 Oct 2012 06:18:41 GMT

@Creditaddict wrote:
@Anonymous wrote:
Maybe cuz it metal. Idk. Idk anything about it except that it has an AF and rewards are points. The two things i stay away from. But maybe its not so bad
Is it really metal.. Must have at ONCE!!

I love what you know!!

I got so mad cause I got my credit up in July to 754 =\ and I found out I missed the BEST metal card in the industry the Palladium card =\ it weighs 4x more than the Sapphire card and costs about $1,000 in precious metals to create (23k gold and Palladium) supposed to be reserved for people who have $30,000,000 in liquid assets with Chase bank with a private banker, but turns out they weren't verifying in June -_-;

Re: Why does everyone want CSP?

distantarray — Sat, 27 Oct 2012 06:19:32 GMT

@jsickz32 wrote:
i want the card cuz its metal and for dinning. i eat out every single day because i cant cook at all. i have a forward for restaurants but im changing it tomorrow morning to the thankyou preferred since i asked and was told im elegible

Why? Don't you get more points from Forward? 2.57 points vs 5 points???

Re: Why does everyone want CSP?

jsickz32 — Sat, 27 Oct 2012 06:23:04 GMT

@distantarray wrote:
@jsickz32 wrote:
i want the card cuz its metal and for dinning. i eat out every single day because i cant cook at all. i have a forward for restaurants but im changing it tomorrow morning to the thankyou preferred since i asked and was told im elegible
Why? Don't you get more points from Forward? 2.57 points vs 5 points???

yes and for 10k points you can get $50 cash back....18k points got me $180 cash back on my freedom. its easy to rack up points but they are not worth that much for cashback.

Re: Why does everyone want CSP?

distantarray — Sat, 27 Oct 2012 06:34:45 GMT

@jsickz32 wrote:
@distantarray wrote:
@jsickz32 wrote:
i want the card cuz its metal and for dinning. i eat out every single day because i cant cook at all. i have a forward for restaurants but im changing it tomorrow morning to the thankyou preferred since i asked and was told im elegible
Why? Don't you get more points from Forward? 2.57 points vs 5 points???
yes and for 10k points you can get $50 cash back....18k points got me $180 cash back on my freedom. its easy to rack up points but they are not worth that much for cashback.

Dollar Value of Thankyou Points for Various Redemption Strategies (Best to Worst)Redemption Method Amount Redeemed Points Required Value of Points

Flights (w/ Citi Premier Card Only!)	$100	7,518	$0.0133
Flights (all other Citi Cards)	$100	10,000	$0.0100
Mortgage payment	$25	2,500	$0.0100
Student Loan Rebates	$25	2,500	$0.0100
Various restaurant gift cards	$100	10,000	$0.0100
Best Buy gift card	$50	6,000	$0.0083
Various restaurant gift cards	$100	10,000	$0.0100
Statement Credit	$250	35,000	$0.0071
Cash	$50	8,000	$0.0062

yea that's pretty lackluster -_-; statement credit, cash, doesn't add up well, besides it'd take a LONG time to overcome the Chase CSP sign up bonus, and with Freedom feeding CSP 5-6 points per transaction it's pretty nice. I guess US Cash+ will have to be my next card for restaurant and bill pay.

Re: Why does everyone want CSP?

Anonymous — Sat, 27 Oct 2012 06:39:41 GMT

@distantarray wrote:
Dollar Value of Thankyou Points for Various Redemption Strategies (Best to Worst)Redemption Method Amount Redeemed Points Required Value of Points
Flights (w/ Citi Premier Card Only!) $100 7,518 $0.0133
Flights (all other Citi Cards) $100 10,000 $0.0100
Mortgage payment $25 2,500 $0.0100
Student Loan Rebates $25 2,500 $0.0100
Various restaurant gift cards $100 10,000 $0.0100
Best Buy gift card $50 6,000 $0.0083
Various restaurant gift cards $100 10,000 $0.0100
Statement Credit $250 35,000 $0.0071
Cash $50 8,000 $0.0062

yea that's pretty lackluster -_-; statement credit, cash, doesn't add up well, besides it'd take a LONG time to overcome the Chase CSP sign up bonus, and with Freedom feeding CSP 5-6 points per transaction it's pretty nice. I guess US Cash+ will have to be my next card for restaurant and bill pay.

Thats why i stay away from point rewards. Points are too confusing as it is, and the conversation rates seem to suck.

Re: Why does everyone want CSP?

distantarray — Sat, 27 Oct 2012 07:01:36 GMT

@Anonymous wrote:
Thats why i stay away from point rewards. Points are too confusing as it is, and the conversation rates seem to suck.

Chase is always the same 1 penny a point no matter what, which is nice =)

Re: Why does everyone want CSP?

Happychap — Sat, 27 Oct 2012 11:34:24 GMT

I want it becasue I cant get it lol they decline me all the time!! so it makes me want it more it does have good rewards though.

Re: Why does everyone want CSP?

Anonymous — Sat, 27 Oct 2012 13:26:44 GMT

@Creditaddict wrote:
All I see these days are Amex, Freedom and CSP!

Why is it everyone's goal lately to have CSP? Especially if you don't travel a lot... do the rewards transfer out to be better than Amex Costco 3% on Restaurants and 2% Gas or 1:1 or 1:1.5 you get with Navy Cash?

Perceived prestige factor. I've found that many on here inexplicably treat credit cards like fashion accessories, and those folks seem to want this card or that card because of the implied prestige they feel that it gives them.

Stupid, IMO, but its their money, which they are free to spend as they please.

Re: Why does everyone want CSP?

distantarray — Sat, 27 Oct 2012 13:40:31 GMT

Hey just for the sign on bonus is worth getting alone, Sapphire has the ability to get the bonus and run. $500 for travel is good enough for a free weekend cruise.

Some people have done things to squeeze out over $20,000 worth of benefits from credit cards in a single year. Like _ _ _ _ bank allowed people to get the same card online 24 times with a good sign on bonus with minimal spending requirements... so people got a 40% return on their spending 24 times a year (husband and wife team)

Also it's the first obtainable card that's metal + concierge service + zero transaction fee obtainable by most people with a decent credit history. I like it for the stupid comments I get from it like "Are you one of those?" "This is heavy" I just find it amusing.

Re: Why does everyone want CSP?

distantarray — Sat, 27 Oct 2012 13:43:04 GMT

@Happychap wrote:
I want it becasue I cant get it lol they decline me all the time!! so it makes me want it more it does have good rewards though.

I like it when cards play hard to get too

unfortunately I haven't been turned down for a card yet so I'm =\

I got a 754 score but I had 400's last year, I guess it's because I didn't apply for anything crazy. but Wishlist Palladium card >_< I want to hold it haha too bad the backdoor closed 1 month before my scores skyrocketed =\

Next wishlist 1. US Cash + (too many inquiries for US bank atm 4) 2. Amex Platinum (no problem since I already got BCP, Platinum is easier to get)

Re: Why does everyone want CSP?

Anonymous — Sat, 27 Oct 2012 13:47:36 GMT

@distantarray wrote:
Hey just for the sign on bonus is worth getting alone, Sapphire has the ability to get the bonus and run. $500 for travel is good enough for a free weekend cruise.

Some people have done things to squeeze out over $20,000 worth of benefits from credit cards in a single year. Like _ _ _ _ bank allowed people to get the same card online 24 times with a good sign on bonus with minimal spending requirements... so people got a 40% return on their spending 24 times a year (husband and wife team)

Also it's the first obtainable card that's metal + concierge service + zero transaction fee obtainable by most people with a decent credit history. I like it for the stupid comments I get from it like "Are you one of those?" "This is heavy" I just find it amusing.

And I would agree that these cards are useful IF one can pass the spend through them which is necessary to obtain the rewards and IF one diligently plans spending to maximize them. I'm inclined to believe that many folks don't benefit much from the rewards and just want the card because "it looks cool" or "it's prestigious".

And again, that's entirely their right. Personally, I'm not paying an AF for anything unless I know that my spend will recoup it for me. My AMEX AF is paid by my firm as a bennie, and I'm luckily in a position where I can pass all of my business travel and expenses through my personal cards, then pay them off with the expense reimbursements. Otherwise, I wouldn't have the cards that I have.

Re: Why does everyone want CSP?

distantarray — Sat, 27 Oct 2012 14:14:41 GMT

@Anonymous wrote:

And I would agree that these cards are useful IF one can pass the spend through them which is necessary to obtain the rewards and IF one diligently plans spending to maximize them. I'm inclined to believe that many folks don't benefit much from the rewards and just want the card because "it looks cool" or "it's prestigious".
And again, that's entirely their right. Personally, I'm not paying an AF for anything unless I know that my spend will recoup it for me. My AMEX AF is paid by my firm as a bennie, and I'm luckily in a position where I can pass all of my business travel and expenses through my personal cards, then pay them off with the expense reimbursements. Otherwise, I wouldn't have the cards that I have.

I don't understand why people get so many cards personally, but yea a lot of people get cards cause of fashion. Personally only card I would get for Fashion is a Palladium card just because it's so damn sexy lol!

It all depends, I believe paying an Annual fee if you get cards that you actually plan to use. I think these cards are the only ones you need.

So if you don't spend a crazy amount, and don't travel for business or make over 100k a year These 4 cards should do you just fine.

Amex BCP - Groceries + Gas + Department stores

Chase Freedom with checking

Chase Sapphire (Trifecta because you can get over 6% category purchases etc)

US Bank Cash + (5% billpay + 5% restaurants in flexible rewards program and can change to home improvement when you buy a house etc)

If you travel a lot Amex Starwood + Platinum + Gold but that's just my opinion.

Amex Starwood - Hotel and travel

Amex Platinum - Airline benefits

Amex Gold - Airline miles (one of the best, I think it's stupid Gold is better than Platinum for some things =\ if they add the points value to Platinum I"ll definately get it)

PenFed Gas card - I spaced this one far if you spend TONS of gas, because with Chase Trifecta you can get over 6% back on gas purchases for half the year, and BCP for the other half the year it averages over 4.5% per dollar so I don't see the real point for most people to get a dedicated Gas card. If your annual Gas cost is $2000 you saved an amazingly $10 more for the year =D although this can be worth it if you run a company's gas costs or a entire family's gas cost or if you have a big ass car lol.

Re: Why does everyone want CSP?

jsickz32 — Sat, 27 Oct 2012 14:11:40 GMT

I dont think 95 af for the CSP its stupid. I waste way more than that on a friday night on coronas. Its 8 dollars a month after the first free year so not a bad deal tbh.