Changes to chase 5/24

[coldfusion]

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@notmyrealname23 wrote:

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I mean, if you would really rather be in the back of the plane on a 14 hour flight for a whole lot cheaper,

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I've done that transpac.  Twice. I would not recommend it. 😐  

[Andypanda]

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@Brian_Earl_Spilner wrote:

Personally, I could care less. While I want to get back in with Chase and Ultimate Rewards, if I need to jump through hoops, I'll give my spend to Amex instead. They're on the back burner because there are plenty of other cards that can benefit me currently. Those others will also treat me better than Chase at this point of my rebuild.

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+1

[notmyrealname23]

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@sladesurfer wrote:

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@notmyrealname23 wrote:

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@sladesurfer wrote:

Why do people fixated about 5/24 chase? The only valueble  UR points to spend on is to transfer it to Hyatt.... Other than that its nothing spectacular. (dont flame me just curious)

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Well, let's see, $10,000 first class flight on Emirates complete with a shower in the plane. Singapore Air with your own bedroom. All Nippon Airways with a nice first class cabin thorugh Virgin Atlantic. And so on. All using mile programs you transfer into from Ultimate Rewards.

I mean, if you would really rather be in the back of the plane on a 14 hour flight for a whole lot cheaper, and just pass out in your middle seat, and that's perfectly fine for you, I'm not going to tell you otherwise. But if you know how to redeem miles, there are killer "wow" kinds of flights out there that are just as impressive as a suite in a Park Hyatt.

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I can see why now but i can probably do the same with my amex and citi setup. I also cant use all my points on first class flight since i always treavel with my family. Thats why all of my points are used to various Hotels...

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So, you just need more points (unless it's a REALLY BIG family).

[Wavester64]

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@Anonymous wrote:

I just saw someone post in a fb group that chase is changing the 5/24 rule to 2/24 in a few months. This person has not provided a source or has said where he heard it from. Can anyone confirm or deny?

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Sheesh, 2/24, with these times they should make it 12/24 

Thank God I finally gave up on CHASE this month.

[sladesurfer]

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@Wavester64 wrote:

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@Anonymous wrote:

I just saw someone post in a fb group that chase is changing the 5/24 rule to 2/24 in a few months. This person has not provided a source or has said where he heard it from. Can anyone confirm or deny?

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Sheesh, 2/24, with these times they should make it 12/24 

Thank God I finally gave up on CHASE this month.

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I have 3 credit cards from chase and i rarely use them anymore. I find from experience, Amex is a better card (for me at least) I disputed multiple times worth $5000 total. (car rentals, Returned purchases and refunds) and no issues with them. Its my go to card when it comes to big purchases/spending.

[VPExecutive]

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@sladesurfer wrote:

Why do people fixated about 5/24 chase? The only valueble  UR points to spend on is to transfer it to Hyatt.... Other than that its nothing spectacular. (dont flame me just curious)

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Southwest, Hyatt, Jet Blue, Emirates, United. 

I'm not overly familiar with international airline point values, though. 

[notmyrealname23]

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@sladesurfer wrote:

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@Wavester64 wrote:

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@Anonymous wrote:

I just saw someone post in a fb group that chase is changing the 5/24 rule to 2/24 in a few months. This person has not provided a source or has said where he heard it from. Can anyone confirm or deny?

---

Sheesh, 2/24, with these times they should make it 12/24 

Thank God I finally gave up on CHASE this month.

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I have 3 credit cards from chase and i rarely use them anymore. I find from experience, Amex is a better card (for me at least) I disputed multiple times worth $5000 total. (car rentals, Returned purchases and refunds) and no issues with them. Its my go to card when it comes to big purchases/spending.

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Yeah, I am thinking more and more "Why do I want to have a foot in the Chase ecosystem, and have to spend years grinding out a trifecta/quadefecta instead of joining #TeamAMEX?" and coming up with "well, actually, you don't: you can use the AMEX Gold/Platinum/Aspire flight credits for free flight credit on Southwest, replacing most of the major benefits of their cards, Hilton is not a terrible alternative to Hyatt for your hotel needs, you still get Marriott if you want, AMEX transfer partners have access to everyone else you care about on Chase's airline list, Green + Gold beats the CSR for earning and the AF costs less".

[VPExecutive]

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@notmyrealname23 wrote:

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@sladesurfer wrote:

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@Wavester64 wrote:

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@Anonymous wrote:

I just saw someone post in a fb group that chase is changing the 5/24 rule to 2/24 in a few months. This person has not provided a source or has said where he heard it from. Can anyone confirm or deny?

---

Sheesh, 2/24, with these times they should make it 12/24 

Thank God I finally gave up on CHASE this month.

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I have 3 credit cards from chase and i rarely use them anymore. I find from experience, Amex is a better card (for me at least) I disputed multiple times worth $5000 total. (car rentals, Returned purchases and refunds) and no issues with them. Its my go to card when it comes to big purchases/spending.

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Yeah, I am thinking more and more "Why do I want to have a foot in the Chase ecosystem, and have to spend years grinding out a trifecta/quadefecta instead of joining #TeamAMEX?" and coming up with "well, actually, you don't: you can use the AMEX Gold/Platinum/Aspire flight credits for free flight credit on Southwest, replacing most of the major benefits of their cards, Hilton is not a terrible alternative to Hyatt for your hotel needs, you still get Marriott if you want, AMEX transfer partners have access to everyone else you care about on Chase's airline list, Green + Gold beats the CSR for earning and the AF costs less".

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Generally, Hilton points are worth at least 400% less than Hyatt points. Average point redemption for Hyatt is about 2 cpp, whereas average for Hilton is about 0.4 cpp, but then again, the Hilton cards have large multipliers. 

Having Green and Gold will get you 4x on dining and groceries capped, 3x on travel, 3x on transit, and 1x on everything else for $400/year. 

You can earn 1.5x UR on "other purchases", 5x on quarterly purchases, 3x on dining, and 3x on travel with a $550 annual fee, with each point worth 50% more when redeemed through Chase's portal. The 10x on Lyft purchases is also pretty signifcant. 

If we transfer AMEX points to an airline, and use Chase's points through the portal, let's calculate: 

AMEX redemptions on Jet Blue (1.2cpp) = 4.8% back on groceries and dining. 3.6% on travel and transit, 1.2% on everything else. 

Chase redemptions for a JB flight (1.5 cpp) = 4.5% back on dining and travel, 7.5% on quarterly purchases, 15% on Lyft rides, 2.25% on everything else.

YMMV, but AMEX Gold+Green isn't always the best option. 

[notmyrealname23]

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@VPExecutive wrote:

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YMMV, but AMEX Gold+Green isn't always the best option. 

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My mileage definitely would vary. (I also bump HIlton value to about .5 cpp, and Jet Blue is not the airline I would have picked as a transfer partner, but that's all stuff reasonable people could disagree about. I would not argue much with the math, though once you plug in my grocery numbers...)

Basically, at present it looks like I'll end up with something like a non-Chase "quadfecta" of AMEX Gold/Green/Discover It Cashback/2% cashback baseline capturing my organic spend by mid-2021, assuming AMEX likes me by then (have three already, missing the Gold, using a no-AF Hilton AMEX for grocery spend in the meantime when it's not Disco's turn in the grocery bucket). I basically trade some ability to use a travel portal efficiently (Chase's is better for sure) and Lyft for better baseline cashback for non-category spend (I'm in a second year of Cashback Match, apparently there's more where that came from) and better grocery spend options. Oh, and I can use a lot of the AMEX credits (though CSR also wins on ease of use of their airline credit).

My personal situation (Ch. 13 in credit file until January 2021, my "good cards" are all ones obtained in 2019 post Ch-13 discharge or in 2020- there are some stepping stone cards I had to use too that aren't listed in my .sig because they're closed) and 5/24 makes it such that I would literally be grinding for a comparaible Chase trifecta/quadfecta through 2022/2023, probably, since I wouldn't be able to grab ANYTHING from Chase before Q1 2021. Right now I'm LOL/24, so that probably also means a thinner credit file since I would have been able to get FOUR cards max for 2019-2020 before getting a first Chase card. (As it is because I app spree'd early my first 5/24 slot is July 2021- if I get an AMEX Gold or anything else, that goes away until January 2022)

I also suspect I'd have to start with CSP, not the CSR, given a thin credit file. So those numbers you gave won't apply for a bit since the multiplier's lower with CSP (though AFs would be lower too).

So... it boils down to "is grinding an extra 2 or so years for your ideal long term set of credit cards from one bank worth it"? For me, no (I don't want to leave my credit union for Chase, either). Other people, maybe so.

[red259]

I can't see why chase would do such a thing. If they did their co-brand card business would drop massively. It seems like with everything going on and even once we open up that travel is not recovering anytime soon. Airlines and hotels are going to be looking to sell mucho points at a deep discount to maintan liquidity. Chase could easily buy all these points and get new customers at a much cheaper rate than they were aquiring customers before. I'm not suggesting approvals will be easy with chase as I think they will tighten lending and be a bit more careful who they give a card to but for quality customers they would certainly want to get them in the door. I would imagine many people are dumping AF cards already and will continue to do so. I just PC'ed my CSR to a freedom classic card because the AF wasn't worth it since I decided to keep the plat because amex gave me a retention offer and in several months I will be eligible for a CSR signup bonus again so I was going to have to ditch the card anyway.