Cancel CSR?

[Anonymous]

I've had a Chase Sapphire Reserve since April 2019. I got it for the UR program, but have heard they are bumping up the already high AF, and unless Chase comes out with some better perks am thinking I will close it out when it comes up for renewal in a few months.

The CSR costs $450 (plus extra $75 for my wife as an AU) and only get $300 in credits, so the net effective annual fee is $225 ($450 +$75 - $300).

My Amex Gold gets better restaurant and grocery points (4x), and same airline points (3x), and value MR and UR points about the same valuation. I have an Hilton Amex, which for $95 gives me 10 free airport lounge so not sure what value I'm really getting from CSR? Perhaps I upgrade HH card to Aspire?

CSR has a $225 net effective AF (includes AU)
Amex Gold has a $30 net effective AF ($250-$220 in credits).
Amex Aspire HH has a -$50 effective AF ($450-$250 travel and $250 Hilton credit) plus comes with priority pass and HH Diamond status.

Thinking I'm better served with a combo of Amex Gold (for restaurants/grocery/travel) and HH Aspire (travel/hotels) and ditching CSR and its $225 net fee!

I already have a Chase Southwest Visa card which can use with merchants who dont take Amex (also could move my CSR credit limit to my southwest card for combined $96k super limit).

Thoughts?! Am I missing anything?!

[wasCB14]

I may do something similar. I generally favor MRs over URs due to airline transfer bonuses, but had continued to book with CSR due to delay coverage. With Amex Platinum adding that in 2020, Platinum wins pretty easily for flights (and I use the Platinum perks and credits).

I don't rent cars very often, so paying Amex $15.95 (CA resident) per use for primary coverage is fine with me.

For Ubers I just got a BofA Premium card and I think that earns 3.5% on Uber so that's good enough. A lot of my hotel spend is covered by points and credits.

I could potentially keep CSR if the rumored dining credit to go with a $550 AF is nominally worth a maximum of maybe $200 (or maybe actually $150 for me after breakage) but otherwise don't plan to keep it.

[Anonymous]

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@Anonymous wrote:
I've had a Chase Sapphire Reserve since April 2019. I got it for the UR program, but have heard they are bumping up the already high AF, and unless Chase comes out with some better perks am thinking I will close it out when it comes up for renewal in a few months.

The CSR costs $450 (plus extra $75 for my wife as an AU) and only get $300 in credits, so the net effective annual fee is $225 ($450 +$75 - $300).

My Amex Gold gets better restaurant and grocery points (4x), and same airline points (3x), and value MR and UR points about the same valuation. I have an Hilton Amex, which for $95 gives me 10 free airport lounge so not sure what value I'm really getting from CSR? Perhaps I upgrade HH card to Aspire?

CSR has a $225 net effective AF (includes AU)
Amex Gold has a $30 net effective AF ($250-$220 in credits).
Amex Aspire HH has a -$50 effective AF ($450-$250 travel and $250 Hilton credit) plus comes with priority pass and HH Diamond status.

Thinking I'm better served with a combo of Amex Gold (for restaurants/grocery/travel) and HH Aspire (travel/hotels) and ditching CSR and its $225 net fee!

I already have a Chase Southwest Visa card which can use with merchants who dont take Amex (also could move my CSR credit limit to my southwest card for combined $96k super limit).

Thoughts?! Am I missing anything?!

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Cancel it.  From everything you posted the only benefit you'd lose from the card if you get the Hilton Aspire is TSA Precheck and global entry which isn't worth the additional $225 a year annual fee.  If you occassionally use Lyft, Uber, metros, amtrak, etc. you can get the no annual fee Wells Fargo Propel for that.  No point in shelling out an extra $450 every year if it's redundant.    

[Anonymous]

It really comes down to how much you value csR pp pass.

So far I value it at 300 per year. But I fly 30 trips a year.

[Trikoret]

Only reason why I prefer CSR is due to the option of using Chase portal to use 1.5% towards hotels. Amex rate is way less towards hotel. Also CSR purchase and Travel benifits are way better than Amex Gold. Lastly, CSR more flexible for earning points towards restaurants. Even if you go to a hotel restaurant is a win win situation. You'll either earn 3x on restaurant or hotel. With Amex gold you might be a chance of only earning 1x since it's in hotel

[CreditCuriosity]

If af changes does go through I would downgrade to either CS or CSP($95) af, so if/when all speculation if gets a buff or for that matter AF is increased you have easy option to re-up it back to CSR and not have to worry about approval, etc..  I wouldn't do anything till news arrives though about possible af raise as speculation at this point.. If you don't want to pay it regardless just downgrade for now as CS is free and CSP is alot more palatable $95 and you still get primary rental car insurance included.

[Revelate]

Isn't the speculation that they're going to increase the AF still just that at this point?

I came out north of $120 ahead in 2018 with the CSR > CSP, say what you want about the fee structure if your lifestyle fits it, it's a fantastic card.  I haven't found a single place where I used it appropriately that I didn't get the bonus categories.

Then again, there are plenty of other cards which aren't making the cut.  Next year if I keep travelling for work I have to decide Hilton or Marriot, I'm literally 2 nights away from BOTH of their next bonus tiers and that's just dumb, and if you're in a similar spot not quite using the high AF card effectively, then sure kick it to the curb... but do the math on your spending before doing so.  I'm at the point where I'm accumulating points on reimbursible expenses so the free nights and doing virtually no personal travel and as such free nights aren't getting used anyway anymore.  Fail.

If Chase does change the AF, will definitely trigger a re-evaluation.  As is in 2019 I tried to keep reimbursible travel expenses on the CBP and when the 2019 year-end statement comes out maybe I'll switch things up anyway.  Hard to say, I still don't have a clear picture of what I'm doing next year work wise so keeping my options open and flexible... which arguably is how one should using credit anyway: only constant in life is change.