CSP vs PRG vs SPG vs Southwest

[mattayy]

Hey everyone,

I am trying to figure out what card to use for majority of my everyday purchases (I spend most on restaurants, gas and travel) and I wanted to see what card out of the ones I have would be best for that? I know there are different point values and rewards based on the financial institution and I have been reading up on it for hours and my brain feels fried now lol I also was wondering if the CSP card would be a good card to have instead of the Southwest and if that would even be an option to product change...

[FinStar]

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@mattayy wrote:

Hey everyone,

I am trying to figure out what card to use for majority of my everyday purchases (I spend most on restaurants, gas and travel) and I wanted to see what card out of the ones I have would be best for that? I know there are different point values and rewards based on the financial institution and I have been reading up on it for hours and my brain feels fried now lol I also was wondering if the CSP card would be a good card to have instead of the Southwest and if that would even be an option to product change...

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What are you attempting to maximize?  As you mentioned, each reward system can yield different results and opportunities.  For instance, and unless you are willing to forego the RR anniversary bonus with SWA (provided this is your FF program), then CSP and SWA would be redundant IMO.  Unfortunately, you cannot PC SWA to any other Chase CC except downgrade to non-Premier or reallocate the CL to CSP.

[mattayy]

Idk I only want to use one card a month and pay it off monthly and with my spending habits I want to know which one would yield the highest reward. I feel like the PRG would be the best since I get x2 points on gas and restaurants and 3x on travel, however the comparison between the Amex points redemption and Chase points redemption might have me leaning toward one instead of the other? I dont know if Amex points are as valuable when redeemed as the Chase points?

[Anonymous]

I say say shift the credit line over to a CSP. You can transfer those points at a 1:1 ratio to other reward programs. Depending on your spend, you might be able to get it with the current 50,000 point sign up bonus which is enough for a few domestic roundtrip tickets or off peak international roundtrip.

[takeshi74]

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@mattayy wrote:

 I feel like the PRG would be the best since I get x2 points on gas and restaurants and 3x on travel, however the comparison between the Amex points redemption and Chase points redemption might have me leaning toward one instead of the other? I dont know if Amex points are as valuable when redeemed as the Chase points?

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Redemption definitely matters for programs like these.  You have to do your due diligence to compare and find which is best for you and you cannot rely on the point values that others post.  These are not universal matters.  Generally speaking, the higher rewards values come from transferring to travel partners and redeeming through their programs so you need to look into that and determine which program and redemption method provides you with the best reward value.

For me. it was pretyy straightforward since I travel on United pretty much exclusively and they are a UR transfer partner.  I can  get much better point value with UR than I can with MR.  YMMV depending on the redemption methods that you can leverage.

You really have to run the numbers for your spend from earning to redemption and compare to a cash back card.  These programs typically require high amounts of spend and those will lower spend are typically better suited to a cash back card.

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@mattayy wrote:

I also was wondering if the CSP card would be a good card to have instead of the Southwest and if that would even be an option to product change...

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Again, it's not just a matter of the cards.  It's about what one needs/wants and which option best suits the individual.  The CSP, for example, won't have the Southwest specific benefits provided by the SW card.  For that sort of reason I have both the CSP and the UMPE for United even though all my UR points end up in my MileagePlus account and most of my earning is done on the CSP.

[mowglidude]

I read a detailed article on this exact subject last night. It's titled "Top 10 Travel Rewards Credit Card Offers for February 2016"

Read more: http://thepointsguy.com/2016/02/top-10-travel-rewards-credit-card-offers-february-2016/#ixzz410Y13DM...

[mattayy]

How do I shift the credit line to CSP?

[mattayy]

Thanks everyone for your feedback!!

[FinStar]

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@mattayy wrote:

How do I shift the credit line to CSP?

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You can either send a secured message (SM) to Chase or call the number on the back of your CSP card and express you interest in reallocating the CL from SWA to CSP.  Make sure the balance is $0 on SWA so they can perform the reallocation.

[Anonymous]

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@FinStar wrote:

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@mattayy wrote:

How do I shift the credit line to CSP?

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You can either send a secured message (SM) to Chase or call the number on the back of your CSP card and express you interest in reallocating the CL from SWA to CSP.  Make sure the balance is $0 on SWA so they can perform the reallocation.

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Looking at their signature, I don't think they HAVE a CSP. (If I'm wrong, disregard.)

You'd have to apply for the CSP (which you'd want to do for the bonus anyway, provided you can meet the spend requirement). Once you HAVE the CSP, you'd do as described above. It's super simple with Chase. 

But remember, Chase has a 5/24 rule for their own cards. If you've opened 5 cards in 24 months, you most likely won't be approved and it's not something that can be recon'd/overturned. If you can pass that, go for it. (You could try the prequal or app without.) 

There is also talk that Chase may be widening the 5/24 rule to include co-branded cards, so if you're iffy on whether CSP is right for you, and you get approved, you might not want to ditch the SWA too fast. Definitely wait until the fee is due, and at that time see what Chase is up to and decide whether to keep, downgrade, or close. I don't know their policy on how much has to be on the CL for your card. I moved all but $1000 off my Freedom to something else, even though it's a VS. Since I just use it for category spend, that's fine with me. But again, I know there are different SW cards and yours may have a min CL. (Example: I know the higher United card has $15k min at open, but I don't know if one could lower it below that down the line without repercussions.)