cancel
Showing results for 
Search instead for 
Did you mean: 

CSR updates coming 10/5?

wasCB14
Super Contributor

Re: CSR updates coming 10/5?


@Janus wrote:

@Loquat wrote:

What I hope they don't do is follow the Amex path with the silly monthly/semi-annual credits. I don't need any more credits to Uber, Lift, DoorDash, UberEats, Saks, Shake Shack, Ruth Chris, or the Cheesecake Factory.


 

While i agree, isn't this why they do it, for competition? That way you have to decide whether you use their card or a competitor's, which is what they utlimately want. If they offered credits at totally different places it would would appeal to someone to have both rather than choosing one.

And in truth those credits are offed with the intent a person won't be able to fully utilize them, I suspect.


Those restaurant (and other) partners also benefit from Amex and Chase promoting them...even the older and more established businesses. I'm not sure exactly what the financial arrangements are, but I suspect the "restaurants" pay part of the cost for the credits, or sell memberships at deeply discounted bulk rates. The net cost to the banks may be very low.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 11 of 135
bourgogne
Valued Contributor

Re: CSR updates coming 10/5?

the update works at the gas stations; M2=2%, M3=3% and so on.  reads the car info off the key fob.  only works at shell stations.  can also be stacked with t-mobile tuesdays and ties into fuel rewards

Message 12 of 135
Loquat
Moderator

Re: CSR updates coming 10/5?


@Janus wrote:

@Loquat wrote:

What I hope they don't do is follow the Amex path with the silly monthly/semi-annual credits. I don't need any more credits to Uber, Lift, DoorDash, UberEats, Saks, Shake Shack, Ruth Chris, or the Cheesecake Factory.


 

While i agree, isn't this why they do it, for competition? That way you have to decide whether you use their card or a competitor's, which is what they utlimately want. If they offered credits at totally different places it would would appeal to someone to have both rather than choosing one.

And in truth those credits are offed with the intent a person won't be able to fully utilize them, I suspect.


I'm sure their goal is to look more appealing and attractive to consumers but if they really want to use their card more over the competition then give me a good enough reason. 

 

If they want to use the CSR instead of my Business Gold for gas, bump the multiplier.  If they want me to use my CSR over the Prestige for airfare, give me a higher multiplier.  I pay an annual travel protection plan so their travel protections don't mean as much to me.  If they want my dining purchases then give me more than 3x and I'll stop swiping my Prestige.  And I'm sure for most if they want grocery spend then they need to implement it and make it offer at least 3x to make the Citi Premier and 4x if they want to be in competition with Amex. 

 

Another HUGE hurdle for them in my opinion, is to find a way to offer outsized value on their cards.  Amex and their Amex Offers kills the competition with this.  Often I find use of the Amex Offers enough throughout the year to offset the annual fee on my Business Gold as well as my EveryDay Preferred.  My Amex Bonvoy cards pay for themselves even if I only take advantage of the 50k free night and the $300 Marriott credit...if I never swipe the card outside of those 2 reasons then I'm already ahead. 

 

Chase doesn't offer any product in my opinion that warrants every day use over Amex or Citi...they just don't.  Their Sapphire product is just a lackluster product in its current form.  Time for Chase to step up or continue to get steam rolled by the competition...especially after deciding to bump annaul fee of the CSR to $550 - Covid is the only reason most of us didn't feel the sting of that yet. 

Message 13 of 135
Jccflat
Established Contributor

Re: CSR updates coming 10/5?

Hopefully it's permanent 5x on grocery 

Message 14 of 135
audioman00
Contributor

Re: CSR updates coming 10/5?

@wasCB14 right now airlines are desperate for cash. Their cost of borrowing is insane (ranging from Delta at 7% to AA at 22%), so entering into wholesale transactions, *even at no margin*, lets them fight another day and is better than the market cost of borrowing.

 

And yes, I think this would just be a temporary measure. Terms with JPM are likely that JPM needs to maintain same margin and pass through the discount as an incentive to travelers. 

Message 15 of 135
coreysw12
Valued Contributor

Re: CSR updates coming 10/5?

I'm going to cry if, after all this buildup, tomorrow we only get one more month of "select streaming services" bonuses Smiley LOL

 

But I'm inclined to think that it'll be a lot bigger than that. They can't follow up the HUGE freedom card announcement with something tiny. Well they could, but it's going to upset a lot of people. It doesn't need to be a total revamp, and it doesn't even need to be as huge of an upgrade as Freedom got... but , I mean come on, they at LEAST need to beat Freedom's Dining and Portal Travel bonuses!

 

I'm keeping my CSR, regardless of what happens tomorrow, but I know a lot of people have been on the fence about keeping it, hoping for a big revamp to make them stay, and will probably be the first ones on the phone with Chase tomorrow if the announcement is something along the lines of a temporary select streaming services bonus.

 

I'm crossing my fingers for increased dining/travel multipliers, a new travel portal category (5x or higher), and permanent Gas stations. Groceries would be cool too, but I don't see that happening.

    Total Loan Balance: $58k / $65k

    Total SL: $42.4k
Goal cards:



United 1K - 675,000 lifetime flight miles    |    Chase Status: 3/24
Message 16 of 135
coreysw12
Valued Contributor

Re: CSR updates coming 10/5?

Also it's entirely possible that the announcement tomorrow will only be in regards to the thing that guy on Reddit was calling them to inquire about. Which was, a higher than 1cpp cashback redemption. That would be unfortunate since hardly anyone uses cashback on the Sapphire cards in a normal year. But I'm going into tomorrow the the expectation that might be the only update we see.

    Total Loan Balance: $58k / $65k

    Total SL: $42.4k
Goal cards:



United 1K - 675,000 lifetime flight miles    |    Chase Status: 3/24
Message 17 of 135
KJinNC
Valued Contributor

Re: CSR updates coming 10/5?

It was a goal card for me from early in my rebuild until they raised the AF to $550, at which point I realized it made more sense for me to just get an Amex Platinum. Since I applied via CAP, my net cost is $400/year ($550 minus $150) and my net AF for Amex Gold is $150 ($250 minus $100), so I pay the same for both of them as I would for CSR. It also made things easier, since it meant I wouldn't need to wait on 5/24 to get a "final goal card".

Not sure how Chase is doing. Maybe they're raking in the revenue and need no advice. But if that is not the case and they are wondering what they should do differently, I'd say the two obvious issues are 1) value - reduce AF, raise rewards, or both; 2) 5/24 is a self-inflicted problem. If they didn't have that rule, they'd have one or two annual fees from me by now in addition to heavy use of the card. They can have whatever rules they want as long as it's legal, which 5/24 certainly is, but that doesn't mean it's smart.


FICO Resilience Index: 66. Cards: 14/24, 0/12, 0/6. Accounts including loans: 17/24, 1/12, 0/6. At first accidentally, later deliberately, I used what I call the "thick-start" build method, which leads to heavy credit-seeking for a while with the goal of coming out of it without needing to build a thin profile for years. There are pros and cons. Thread describing method
Cards (oldest to newest)

Authorized user / Corporate / Auto loan / Personal loan

Card CLs total $104,100, not counting the AU card. The AU card brings the total to $129,100. In March 2019, card CLs totaled $0.
CU and bank memberships: Coastal Credit Union, member since 1987, direct deposit; PenFed, member since 2019; Navy Federal, member since 2020; USAA, member since 2020; Chase Bank, member since 2020.

Closed but still on reports: American Express Delta Gold, $1,000, 09/19-10/20 | American Express Hilton Aspire, $3,100, 09/19-12/20 | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Note: My signature is updated frequently, and updates appear on all instances of my signature including on old posts.
Message 18 of 135
CreditCuriosity
Moderator

Re: CSR updates coming 10/5?

No info yet :/

Message 19 of 135
Jccflat
Established Contributor

Re: CSR updates coming 10/5?

That means nothing for today ?

or it can stil show up?

Message 20 of 135
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.