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Applying for CSP? Consider Waiting until February

Valued Contributor

Applying for CSP? Consider Waiting until February

For those about to pull the trigger on a Chase Sapphire Preferred application, you may want to hold off for 1 week, until February. According to the official CSP program details:


You’ll receive a 7% Annual Points Dividend on all new points earned on purchases made with your Chase Sapphire Preferred card during the previous year. (“Year” means, for your first year as a cardmember, the period beginning with your Enrollment Date through your billing cycle with a December closing date of that same year. For each year thereafter, “Year” means the twelve billing cycle period beginning the day after your billing cycle with a December closing date through your billing cycle with a December closing date of the next year.) Your 7% Annual Points Dividend will appear on your January or February billing statement.


If you apply and get approved for a CSP today or any other day in January you may end up in a situation 1 year from now where you want to close/downgrade your card in order to avoid the $95 annual fee, but you're still waiting for your 7% annual points dividend to post. If you apply in February (or ideally March to be safe) you should have enough time between the posting of your 7% dividend and the end of your free intro period to transfer the bonus points out and then close/downgrade the card. Of course, if you plan to hold the CSP forever, and pay the recurring annual fee, this makes no difference.


Just some food for thought.

TU FICO: 800 (2/1/14) | CK Score: 802 (2/1/14) | CS Score: 805 (2/1/14)

J.P. Morgan Palladium ($250k) | AmEx Platinum (NPSL) | AmEx SPG Personal/Business ($50k/$50k) | Citi Executive AAdvantage WEMC ($50k) | Citi Dividend WEMC ($50k) | Chase Sapphire Preferred VS ($50k) | Chase Ink Bold WEMC ($50k Flex) | Chase Ink Plus WEMC ($25k) | Chase Freedom VS ($25k) | Chase Freedom WMC ($25k) | Chase MileagePlus Explorer ($25k) | Chase Southwest RR Plus Business/Personal ($15k/$15k) | Barclays US Airways ($25k) | Barclays Hawaiian Airlines ($25k) | BofA Alaska Airlines ($10k) | Lexus Financial Services ($30k) | Mercedes-Benz Financial Services ($50k)
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Regular Contributor

Re: Applying for CSP? Consider Waiting until February

That's great info. to be made aware of. Thanks!


I have no plans to get a CSP in 2013, but then again, one never knows for sure.....for we humans are fickle and crazy, and thus are apt to do just about anything, anytime!

All 3 bureaus (per Amex CreditSecure FAKO) are still 748 (as of 12/19/13). Cards: Discover It, $12,100, Chase Freedom $3,300, Chase Amazon $1,500, Walmart store $11,000, AMEX Zync NPSL, Costco Amex $14,700. US. Bank Cash +, $5,000. AMEX SPG $6,000, PenFed Plat. Cash Rewards $17,500, PenFed P-LOC $10,000, Citi Forward $5,100, Chase Slate $5,000, Old Navy, $2,200.
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