Chase Sapphire PREFERRED Upgrade Offer

[jefftca925]

Happy Sunday Everyone!

Yesterday I received an Upgrade Offer to convert my plain Sapphire card to the Preferred version.  If I qualify (account is open and in good standing) I'll receive 2500 bonus points and no AF for one year.  With all of the benefits of the Preferred version and no AF for a year I figured why not try it and see how the program works out.  I already have checking, savings, mortgage, and two Freedom cards wiht Chase so this will be a good deal.  The Ultimate Rewards program is so flexible that I can transfer points between cards AND now airline FF programs, this will give me a reason to cancel my Southwest CC when the AF hits.  YAY!! 

[webhopper]

Thats great offer...  What about doing a Product Change to a Different Chase card...  How come you have two Freedoms?  That's really odd!

[BlueHusky]

Seems like a bad deal to me?

It's not really an "upgrade" to go from Sapphire to Sapphire Preferred - you just pay the annua fee, both are equally hard to get. And for NEW CSP customers you get no AF for a year + 40,000 points (not 2500). (40,000 points with their program is worth about $400 if used for cash)

[Anonymous]

Chase will let you combine the CLs on your two Freedoms. Why not do that?

[Anonymous]

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@BlueHusky wrote:

Seems like a bad deal to me?

It's not really an "upgrade" to go from Sapphire to Sapphire Preferred - you just pay the annua fee, both are equally hard to get. And for NEW CSP customers you get no AF for a year + 40,000 points (not 2500). (40,000 points with their program is worth about $400 if used for cash)

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Its a nice upgrade. Points now transfer to partners and are worth 20% more. 2x on restraunts and travel. 7% dividend, ect.

[jefftca925]

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@Anonymous wrote:
Chase will let you combine the CLs on your two Freedoms. Why not do that?

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one of the Freedom cards was an old WaMu CC (MC) that converted last year and the other (VISA) I've had for 4 years (when they had the old Freedom program).  They don't cost me anything to keep but add to my AAoA.

As far as the "upgrade", it's not costing me anything for the first year so I can try it out and see if it works well to substantiate the cost.  Plus I get bonus points without a spend requirement.  The 40k offer requires a $3k spend in 3 months.  I'm in the middle of two spend requirements now so that's not gonna work.

I'll close my Southwest card in August when the AF comes due and transfer the CL to another Chase card.  If I can transfer points to Southwest from the Sapphire account it doesn't make sense to keep that card.

[Anonymous]

If you close the other Freedom, it will still factor into your AAoA for 10 years.

[jefftca925]

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@Anonymous wrote:

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@BlueHusky wrote:

Seems like a bad deal to me?

It's not really an "upgrade" to go from Sapphire to Sapphire Preferred - you just pay the annua fee, both are equally hard to get. And for NEW CSP customers you get no AF for a year + 40,000 points (not 2500). (40,000 points with their program is worth about $400 if used for cash)

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Its a nice upgrade. Points now transfer to partners and are worth 20% more. 2x on restraunts and travel. 7% dividend, ect.

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+ 1000!!!   This card has a lot more perks especially if you have other accounts with Chase.  I can earn a lot more points in the UR program and have more flexibility with it.  This really is a no-brainer.

[jefftca925]

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@Anonymous wrote:
If you close the other Freedom, it will still factor into your AAoA for 10 years.

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If there is no AF for the card it doesn't hurt anything... it's just another card that I have to rotate.  Not a biggie.  Plus the cards help my AAoA...and keeping open doesn't start the 10-year clock.

[BlueHusky]

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@Anonymous wrote:

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@BlueHusky wrote:

Seems like a bad deal to me?

It's not really an "upgrade" to go from Sapphire to Sapphire Preferred - you just pay the annua fee, both are equally hard to get. And for NEW CSP customers you get no AF for a year + 40,000 points (not 2500). (40,000 points with their program is worth about $400 if used for cash)

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Its a nice upgrade. Points now transfer to partners and are worth 20% more. 2x on restraunts and travel. 7% dividend, ect.

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I know the CSP is better, I'm just saying it's not an upgrade as you get more from just getting the CSP from the beginning.