I need help, because I'm indecisive. I've been considering the Chase Sapphire Preferred card for sometime now, but I'm not impressed with the 2X rewards, and would have to do some serious spend just to offset the AF and earn URs. Obviously, the SUB is a big incentive, but it wasn't enough to convince me so I was going to app the CFF to get a feel for Chase and URs. However, I just learned that the card is up for a revamp, so I'm reconsidering my position. The thing is, does it make sense to just go for it now and see what happens with the card? I'm trying to figure out why they would premptively offer such a high sub before even announcing the update. Could it possibly go up again? Or would it make more sense to go for the SUB and get in before the AF possibly goes up? What if they release another card to go with the CSP or CSR (is that possible)? Ugh, I'm driving myself crazy. Someone talk sense into me!
@simplynoir wrote:The SUB alone at the current 100k pts especially if you have P2 or a close friend who can benefit from the increased referral bonus to 20k/$200 (they must have a CSP to refer) is enough to app for the card and worry about the rest later. Take the points/money and if you don't like how the possible re-vamp goes just PC the card to CF/CFF after the first year when the AF is due
Well, that answers one of my other questions. I was afraid if I didn't like the card and closed it, Chase wouldn't like that. I did not realize it can be PCd to one of the Freedom cards. The other challenge is spending $4k in 3 months. I can most likely do it if I put ALL my spend on the CSP. I do think I have a friend with a CSP to give the referral to. What is P2?
CSP is hamstrung if it is the only UR earning card you have. It can multiply URs from other cards by 1.25. Standalone, I say it is not worth it for more than SUB, then close. Get the trifecta and you're cooking with gas.
@Anonymous wrote:I think even if you dont really travel, you can still get a lot out of the Preferred but then again i always say get a card that suits your lifestyle AND budget. If you dont have a large purchase to get the sub, then don't feel the need to get it just for that. yes the 2x is not a lot but the beauty of Chase Sapphire points lie in their redemption.
ps. the annual fee comes with your first statement, not after a year unless of course you get the offer for $0 during first year (which i've heard some people have gotten).
I like to travel, but I certainly don't do it more than 1-2x a year. And right now, I don't have plans for traveling in the forseeable future, but I think I can make more use out of URs than MRs, especially because I usually fly United. I do plan on closing my AMEX Gold (probably next year), but at least it's easy to offset the AF for that card with the credits and tons of AMEX offers.
@simplynoir wrote:
@Anonymous wrote:I think even if you dont really travel, you can still get a lot out of the Preferred but then again i always say get a card that suits your lifestyle AND budget. If you dont have a large purchase to get the sub, then don't feel the need to get it just for that. yes the 2x is not a lot but the beauty of Chase Sapphire points lie in their redemption.
ps. the annual fee comes with your first statement, not after a year unless of course you get the offer for $0 during first year (which i've heard some people have gotten).
I should have mentioned this so thanks for pointing it out. @KLEXH25, if you have a Chase branch nearby go and see if you can nab the offer that comes with the first year AF waived, that makes it essentially a no brainer at that point if you can reach the spend
I do have a branch very close by, but I don't have any Chase accounts. How would that work?
Spend is not too much of a stretch. Natural spend (not including bills) is probably about $3,600 in a 3 month period. Do you know when that 3 months starts and ends? Is it based on billing statements or like 90 days?