CSP Cardholders Who Are NOT Applying for a CSR

[adelphi_sky]

I agree. I do think that's why so many people are getting approved. Think about it, the $450 from the gate is like guaranteed interest payments up front for them. Then you have those trying for the minumum spend who may not pay the entire balance. That's more interest. ANd if some don't make the minimum spend, more money in the bank's pocket. THe bank really can't loose on this one by relaxing the rules a little. If you make a certain amount of money and have a clean credit history, they figure you can afford the initial $450. So, they figure it's a win/win for them. Better still, some people may not travel as much. So, they don't take advantage of the $300, etc. My wife is an AU on my Prestige and doesn't even want the global entry because she doesn't want to waste time getting one. lol  So, that's $100 on the table right there unused. Just my thoughts.

[Anonymous]

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@Anonymous wrote:

I understand your points and they are the reason that I will be applying for the card.  However not everyone or even the majority of the posters on this board should apply for this card anymore than people should apply for the Amex Platinum when it has the 100K MR bonus.  These are travel cards and if you dont travel, and having read these forums for awhile that is a lot of people, you shouldnt apply for travel cards especialy the higher end ones.  There are far too many people that applied for threAmex Platinum card for the 100K MR points that had no idea how to use them and found out that they had no use for them yet were stuck with the card at least for awhile.  The same thing is sure to happen with this card.  It isnt the card of the century and is specifically designed to compete with the Citi Prestige and Amex Platinum. So unless you travel a moderate amount then this card isnt for you.  There are plenty of other cards that can be more beneficial to many people.

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While I agree in general, the difference between this and the Amex Plat is that URs can easily (albeit wastefully) cashed out as statement credit, so even without the travel stuff, people could make over $500 on the card.    Whether that is worth the bother is another question, but enough people here get excited about the $25 per quarter "free money"  from BoA BBR, this must be amazing....

[Anonymous]

Very interesting thread. I'm definitely surprised by those who have the CSP who don't want the CSR but  after reading the responses.... it makes sense. No point in getting this card (or any card) if you aren't going to use all of the perks/benefits. 

[joltdude]

Theres also the minimum income requirement... Not sure if its 50k or 60k but its not in my financial bracket...

This and the CSP dont interest me at all.. Don't travel enough to make it worrh the AF..

-J

[Anonymous]

If you travel and dine enough to justify having a CSP, then you probably should have a CSR instead, either always (if you have no AUs) or unless you spend a very specific amount on travel and dining (if you have AUs).

If you have no AUs, your effective AF is $150.  The following chart compares three cards: CSR ($150 AF, 3x travel/dining, no FTF), CSP ($95 AF, 2x travel/dining, no FTF), and QS ($0 AF, 1.5% everythng, no FTF).  Given a range of plausible UR point values, it compares the yearly travel/dining spend required for CSR or CSP to beat QS.

http://imgur.com/4TH7sCF

This chart shows that for any valuation of UR, CSP always loses to QS (if you're a light spender) or CSR (if you're a heavy spender).  For example, if you think UR are worth 2cpp, then QS is the best card if you spend less than $3333.33 on travel/dining per year, and CSR otherwise.  CSP also overtakes QS at $3800 yearly spend, but CSR is already better than both at that point.

On the other hand, let's say that you have one AU; in that case, CSR's AF increases to $225.  The following chart compares that CSR with CSP and several other no-AF cash back cards: QS (1.5% no FTF), DC/Fido (2%), BofA TR with maximum relationship (2.625% no FTF), and Costco (3% travel/dining).  (This chart generally ignores the FTF issue since it's not really the point.)

http://imgur.com/8Fu1y3T

In this case, depending on what other cards you have access to (and whether you care about FTF), CSP might be your best option, but only for a narrow range of annual spending.  Continuing the above example of 2cpp and QS, we see that this version of CSR now requires $5000 spend to beat QS, so CSP would in fact be the best option if you spend between $3800 (where QS>CSP) and $6500 (where CSR>CSP) on travel/dining per year.  Alternatively, comparing against DC, the sweet spot for CSP is reduced to $4750-$6500.  For that matter, against BofA TR or Costco, the spending thresholds are once again high enough that CSP loses to the free card or CSR at all levels of spend.

Under this model, CSP's winning range is at most a few thousand in comparison to QS, and less in comparison to DC.  Against the Costco card, CSP loses for pretty much every reasonable valuation of UR.

As the number of AUs increases, however, CSP performs much better than CSR.  With 2 AUs, CSR requires a total of $10250 spend to overtake CSP (at 2cpp); with 3 AUs, that number is $14000.

[Gmood1]

I've been in the Chase travel portal looking at travel options. What I don't understand is why would a pay more than $1000 for the same trip I can book through Expedia?
Maybe I'm missing something as far as these UR points go? I have considered the CSR for a trip I'm still debating. I don't see it saving me a dime with the 100,000 points.

I've read the $300 credit can't be credited to the actual plane ticket..is this true?

[Credit_hawk]

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@Gmood1 wrote:
I've been in the Chase travel portal looking at travel options. What I don't understand is why would a pay more than $1000 for the same trip I can book through Expedia?
Maybe I'm missing something as far as these UR points go? I have considered the CSR for a trip I'm still debating. I don't see it saving me a dime with the 100,000 points.

I've read the $300 credit can't be credited to the actual plane ticket..is this true?

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Using them through travel partners is the only way to save. In other words, go to AA or BA and use your UR points on their actual site.

[mjb59463]

Here. I have the CSP currently. It's not guaranteed that I won't app for CSR, but I'm leaning towards not doing it. Here's why:

1. I have the Ritz Carlton card, which makes sense for me since I stay in Marriott's/RC when I travel, which is semi-frequently. 450AF, but it earns fairly well in this hotel category. Marriott presence will get stronger due to acquiring SPG too.

2. I wouldn't take advantage of any flying rewards that fall under UR. Delta is what my work uses, what I have status on, and what I fly for personal reasons due to my city being a primary delta hub. For this I have the Amex Delta Reserve, another 450 AF card.

3. I personally can't justify another 450 AF card.

If I do app, it'll have to be at the expense of the Ritz. Currently trying to figure out which would be more beneficial to me between the CSR and Ritz for hotel rewards.

[pipeguy]

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@Anonymous wrote:
People who can't afford it, fair enough. People who can afford it, big mistake.

The 300 travel credit automatically posts which means if you travel $300 in a year, it's a straight up rebate/prepaid expense. Then you're looking at 95 vs 450-300 or 150 after year one

That extra 55 is paid back with 5.5k combined annual travel and dining if redeemed for statement credit (worst case) vs the CSP, or a mere 3.66k combined if redeemed for the travel credit on ultimate rewards at 1.5 cents per point. Haven't even mentioned the priority pass lounge access, which is definitely worth more than zero

CSP had 100k sign-up bonus back in 2011, and has had devaluation and reduced bonuses since. The best time to get the csr is asap

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I can "afford it" I just have no interest in paying an AF for a card I don't need

[Discover2016]

I currently have the CSP, I was going to PC to the CSR but my limit is less than 10k. The CSR does look to be a great card but since I have the CSP, Ritz AND the United Club, I think I can sit this one out lol