I actually have the CSP and am supplementing it with the Amex Platinum and the Citi Prestige: for the Prestige I think I thought of a method to nab the $350 annual fee, even if they won't just hook me up walking in branch like some people were apparently able to do. It seems if you're a Citi gold or priority member and get the Prestige, you get the reduced fee. However, some people have said they had the status (incidentally), got the card with the reduced fee, and then at some point lost the priority status...however when the fee for the card rolled around it still only charged $350. So if a banker won't just hook me up with the lower fee, I'm gonna bite the bullet and pay the $30 monthly fee for the Priority account, then get the Prestige during that month, then after the annual fee drops, cancel the Priority membership before its monthly fee drops again. Theoretically, this should lock me in with the $350 fee.
I am going to wait for a sign up bonus on the Prestige either way, and I can plan my vacations around the 4 night benefit (should be able to use 3 or 4 times a year, even more once my leave caps out at work in a year or two). Plus, one of my favorite places to visit is a small town with no major chain hotels so the IHG Hyatt etc free nights are useless there. Also 3 hour trip delay, unlimited roadside, and 24 month purchase protection of the prestige are all unique perks. With that and the Amex Platinum (which I am definitely getting as my airport has one of the best Centurion lounges), the CSR offers nothing over the CSP that I can tell. Combined effective fee of the CSP and Prestige (with $350 fee) is only $195, whereas effective fee of CSR is $150. Since I'm getting the Amex Platinum anyway, it seems worth the $45 to go CSP/Prestige imo. The $45 is immaterial when you consider you're actually forcing yourself to spend $50 more on travel with the CSR: the travel credit still represents an out of pocket expense. Sure the annual fee is lower, but you have to spend $50 more on travel to get that value. A lot of people would be spending the $50 anyway so it's probably a wash - but hey the difference between CSR and CSP/Prestige is $45 so then imo the whole price difference is pretty much a wash.
I was actually looking at the Discover It/Sam's Club/hotels.com hack and it looks like the end price of a room can be comparable to 4th night free, but there are more steps that way and it seems it's better to stay directly with the hotel rather than booking through hotels.com. plus if I want to use my status from the amex platinum I believe I have to book directly with the hotel (someone please correct me if I'm wrong on that one)
