topic Re: CSP, should I keep? in Credit Cards

CSP, should I keep?

B335is — Wed, 19 Nov 2014 22:30:00 GMT

My AF is due in a fee days and I was originally going to pay it. However, i just don't use this card like I thought I would. I guess you could say I got it for the bonus last year. It's 15k limit so I'm thinking of just closing it and moving the limit to Freedom which is at 10k. Any thoughts?

Re: CSP, should I keep?

Anonymous — Wed, 19 Nov 2014 22:34:32 GMT

@B335is wrote:
My AF is due in a fee days and I was originally going to pay it. However, i just don't use this card like I thought I would. I guess you could say I got it for the bonus last year. It's 15k limit so I'm thinking of just closing it and moving the limit to Freedom which is at 10k. Any thoughts?

Other than it being a pretty card I'm not sure why you wouldn't just close it and transfer to the Freedom or some other Chase card

Re: CSP, should I keep?

Anonymous — Wed, 19 Nov 2014 22:36:10 GMT

@B335is wrote:
My AF is due in a fee days and I was originally going to pay it. However, i just don't use this card like I thought I would. I guess you could say I got it for the bonus last year. It's 15k limit so I'm thinking of just closing it and moving the limit to Freedom which is at 10k. Any thoughts?

Transfer it, wait till your 24mos is up and reapply!

Re: CSP, should I keep?

Shock — Wed, 19 Nov 2014 22:40:17 GMT

my CSP is at 15k too. I want to PC it to Freedom when the AF is due, but most people say it isn't possible. I want to keep the CSP for lower APR because my current Freedom is 22.99.

Please keep us updated on what you do...I'm in the exact sames shoes as you and want to see what option you take!

Re: CSP, should I keep?

FinStar — Wed, 19 Nov 2014 22:43:33 GMT

Other than Freedom, what other Chase cards do you have? And, unless you want another Chase CC in the future, hopefully you haven't maxed your internal CL with them but anything is possible.

Re: CSP, should I keep?

mongstradamus — Wed, 19 Nov 2014 22:44:04 GMT

@Shock wrote:
my CSP is at 15k too. I want to PC it to Freedom when the AF is due, but most people say it isn't possible. I want to keep the CSP for lower APR because my current Freedom is 22.99.

Please keep us updated on what you do...I'm in the exact sames shoes as you and want to see what option you take!

My view on CSP is if you have ink plus downgrade , if not then would keep it , Just transferring to another UR card, like freedom or CS, isn't really an option, since you will be losing oppurtunity to transfer to Airline/Hotel partner. That is one of the only reasons to even have UR points in the first place imo.

I am going to have the same decision in april, CS probably won't be available anymore so its going to be tough decision since i do like get 2x UR points eating.

Re: CSP, should I keep?

Anonymous — Wed, 19 Nov 2014 22:52:45 GMT

Im thinking about cancelling as well in Feb. Have to decide what to do with my 100K points, transfer to Freedom, or just take a chance and transfer to say United, where I might one day use them

Re: CSP, should I keep?

sillykitty1 — Wed, 19 Nov 2014 23:08:55 GMT

I considered canceling mine last month when the AF was due.. I decided not to, because of the value of transferring to partners, along w the Freedom. But even with that I seriously debated, as I have miles spread across UR, MR, Delta & AA/US. But then Cash+ downgraded restaurants from 5% to 2% starting next Q, I was glad I kept the CSP. For me 2 UR points on dining are more valuable than 3% cash back on another card. For my spend I have sufficient travel spend and dining to make the AF worthwhile ... But YMMV.

Re: CSP, should I keep?

Shock — Wed, 19 Nov 2014 23:25:14 GMT

mongstradamus wrote:My view on CSP is if you have ink plus downgrade , if not then would keep it , Just transferring to another UR card, like freedom or CS, isn't really an option, since you will be losing oppurtunity to transfer to Airline/Hotel partner. That is one of the only reasons to even have UR points in the first place imo.

I am going to have the same decision in april, CS probably won't be available anymore so its going to be tough decision since i do like get 2x UR points eating.

I have 2 cards that get 2x back on everything so the CSP isnt exactly enticing for dining..or travel for that matter. Im not sure I will use the points for travel. Might even jus take it as cash back. Im assuming it transfers 1:1. I'm not concerned with airline/hotel partners....I would normally only use it for flights, and I would by a flight directly from the UR mall.

Re: CSP, should I keep?

mongstradamus — Wed, 19 Nov 2014 23:32:40 GMT

@Shock wrote:
mongstradamus wrote:My view on CSP is if you have ink plus downgrade , if not then would keep it , Just transferring to another UR card, like freedom or CS, isn't really an option, since you will be losing oppurtunity to transfer to Airline/Hotel partner. That is one of the only reasons to even have UR points in the first place imo.

I am going to have the same decision in april, CS probably won't be available anymore so its going to be tough decision since i do like get 2x UR points eating.
I have 2 cards that get 2x back on everything so the CSP isnt exactly enticing for dining..or travel for that matter. Im not sure I will use the points for travel. Might even jus take it as cash back. Im assuming it transfers 1:1. I'm not concerned with airline/hotel partners....I would normally only use it for flights, and I would by a flight directly from the UR mall.

For me 2x UR points doesn't equal 2% cash back so that is why I would prefer 2x ultimate reward points. If you aren't using ur for travel then just apply CSP every two years for free 480 dollars ?

Re: CSP, should I keep?

B335is — Wed, 19 Nov 2014 23:34:43 GMT

Thanks for the replies.

Here is a list of my other Chase cards:
Amazon 3k
Ink Plus 5k
Marriott 7k
Freedom 10k

I'm leaning towards just closing it and transferring the limit. I think if i downgrade it, I still won't use it much.

Re: CSP, should I keep?

mongstradamus — Wed, 19 Nov 2014 23:37:40 GMT

@B335is wrote:
Thanks for the replies.

Here is a list of my other Chase cards:
Amazon 3k
Ink Plus 5k
Marriott 7k
Freedom 10k

I'm leaning towards just closing it and transferring the limit. I think if i downgrade it, I still won't use it much.

If you can downgrade to cs I would do that .I think having 2x on dining is pretty good? Since you have ink plus you can use that to transfer to airline partners .

Re: CSP, should I keep?

Shock — Wed, 19 Nov 2014 23:43:35 GMT

Can't you get blacklisted for being a churner?

Or wont something happen if they catch on?

Re: CSP, should I keep?

B335is — Wed, 19 Nov 2014 23:50:02 GMT

Yeah Shock. There's some reports out there and to be honest, is my biggest reservation about doing anything other than paying the AF for another year.

Re: CSP, should I keep?

Anonymous — Thu, 20 Nov 2014 00:58:57 GMT

Doing it once is fine, people close cards for all sorts of reasons. If you kept applying, getting the bonus and closing, issuers would (eventually) mind, but now chase has the 24 month rule, you can't do that all that often.

Re: CSP, should I keep?

iCoop — Thu, 20 Nov 2014 01:26:09 GMT

@B335is wrote:
My AF is due in a fee days and I was originally going to pay it. However, i just don't use this card like I thought I would. I guess you could say I got it for the bonus last year. It's 15k limit so I'm thinking of just closing it and moving the limit to Freedom which is at 10k. Any thoughts?

OP I'm not using my CSP at all so I just PC'ed it to the non AF CS. I needed at least $5K on the card to complete the PC so keep that in mind before moving the balance to another card.

Re: CSP, should I keep?

Anonymous — Thu, 20 Nov 2014 01:53:23 GMT

If you don't use it, don't pay for it.

Re: CSP, should I keep?

B335is — Thu, 20 Nov 2014 03:00:35 GMT

I went ahead and closed CSP. I was able to transfer 14.6k credit to Freedom. What a night and day difference from Comenity. The whole call took under 5 minutes.

Re: CSP, should I keep?

Anonymous — Thu, 20 Nov 2014 03:03:19 GMT

@B335is wrote:
I went ahead and closed CSP. I was able to transfer 14.6k credit to Freedom. What a night and day difference from Comenity. The whole call took under 5 minutes.

Different target audience

Re: CSP, should I keep?

B335is — Thu, 20 Nov 2014 03:05:53 GMT

I don't know Nixon. The Comenity card i applied for had $149 AF.