The Chase Sapphire Preferred has no AF for the first year. One cannot upgrade to the Chase Sapphire Reserve until after 12 months. Generally the advice here is to upgrade just after 12 months pass.
I called to upgrade my CSP to CSR a couple weeks ago, which is almost 17 months since the CSP was opened, and so the sequence of Upgrade has nearly played out:
1) Instant conversion to CSR and begin earning 3 UR
2) Paid for an AirBNB stay
Paid for a Lyft ride
3) Received $300 Travel credit on the two items
4) Activated the actual CSR card
5) Received the prorated credit of the $95 AF, more than half of that refunded
6) Expect to be billed about half the CSR AF.
End result should be two years without AF, and 3UR earning the rest of the year. Going forward I expect to keep the card as is, but a nice “bonus” for a bit more free time.
I called to upgrade my CSP to CSR a couple weeks ago, which is almost 17 months since the CSP was opened, and so the sequence of Upgrade has nearly played out:
1) Instant conversion to CSR and begin earning 3 UR
2) Paid for an AirBNB stay
Paid for a Lyft ride
3) Received $300 Travel credit on the two items
4) Activated the actual CSR card
5) Received the prorated credit of the $95 AF, more than half of that refunded
6) Expect to be billed about half the CSR AF.
End result should be two years without AF, and 3UR earning the rest of the year. Going forward I expect to keep the card as is, but a nice “bonus” for a bit more free time.
Awesome when it works out that way and takes the sting out of no SUB for a PC. Similar experience with my SPG Luxury PC.
I don't think the CSP has no AF the first year.... at least for me, they just charged me an AF after getting my card only a month ago. Maybe that was an old promo they don't offer anymore?
Edit: Looking at the Chase website, indeed the annual fee for CSP is not waived in the first year (anymore?). Maybe it used to be, maybe they got rid of that promo around the same time they bumped the SUB from 50k to 60k? Sort of makes sense if that's the case, as 10k points versus a waived $95 AF are basically worth the same value, give or take. Chase probably decided that more SUB points sounds more enticing than a waived 1st-year AF.
Total Loan Balance: $43k / $65k
Total SL: $78k
@coreysw12 wrote:I don't think the CSP has no AF the first year.... at least for me, they just charged me an AF after getting my card only a month ago. Maybe that was an old promo they don't offer anymore?
Edit: Looking at the Chase website, indeed the annual fee for CSP is not waived in the first year (anymore?). Maybe it used to be, maybe they got rid of that promo around the same time they bumped the SUB from 50k to 60k? Sort of makes sense if that's the case, as 10k points versus a waived $95 AF are basically worth the same value, give or take. Chase probably decided that more SUB points sounds more enticing than a waived 1st-year AF.
That's true now. Sorry for your loss 
The same game can be played, you just need to wait longer into the second year to upgrade to CSR 
@Anonymous wrote:
@NRB525 wrote:
The Chase Sapphire Preferred has no AF for the first year. One cannot upgrade to the Chase Sapphire Reserve until after 12 months. Generally the advice here is to upgrade just after 12 months pass.
I called to upgrade my CSP to CSR a couple weeks ago, which is almost 17 months since the CSP was opened, and so the sequence of Upgrade has nearly played out:
1) Instant conversion to CSR and begin earning 3 UR
2) Paid for an AirBNB stay
Paid for a Lyft ride
3) Received $300 Travel credit on the two items
4) Activated the actual CSR card
5) Received the prorated credit of the $95 AF, more than half of that refunded
6) Expect to be billed about half the CSR AF.
End result should be two years without AF, and 3UR earning the rest of the year. Going forward I expect to keep the card as is, but a nice “bonus” for a bit more free time.Wasn't sure where the "free" was coming from. Because you get the $300 credit even though you only have the card half the year? If you converted in the very last part of the second year (providing you have the travel events during that period) you would do even better, paying more of the $95 and less of the $450! The issue is that you lose the 3x earning for the period you don't convert, just as you did. (And no PP etc, if that matters)
Yes I am discounting the Priority Pass. The true issue is, you lose 1 UR additional during the time period, and only on Travel and Dining. The replacement is cash savings on the AF, and depending on how one values UR points, might be a wash. Since I am overextended on too many travel card setups, I'm counting it a win 
@NRB525 wrote:
@coreysw12 wrote:I don't think the CSP has no AF the first year.... at least for me, they just charged me an AF after getting my card only a month ago. Maybe that was an old promo they don't offer anymore?
Edit: Looking at the Chase website, indeed the annual fee for CSP is not waived in the first year (anymore?). Maybe it used to be, maybe they got rid of that promo around the same time they bumped the SUB from 50k to 60k? Sort of makes sense if that's the case, as 10k points versus a waived $95 AF are basically worth the same value, give or take. Chase probably decided that more SUB points sounds more enticing than a waived 1st-year AF.
That's true now. Sorry for your loss
The same game can be played, you just need to wait longer into the second year to upgrade to CSR
Good point!
And that's ok, 10k more points or no first-year $95 AF, six of one and half a dozen of the other, I don't really look at it as either a loss or a gain, they just shifted sign up promos from one thing to another 