Chase Sapphire Preferred, Citi Premier, or both ?!?

[StevieK]

Just the other day I was just pondering whether or not to apply for the Citi Premier card, when  out of the blue Chase offered me preapproval for their Sapphire Preferred card with a $15,000 limit (I have had a Chase Freedom Unlimited card for a little over a year). 

So now I am considering going from four cards with no annual fees and zero cards with annual fees, to two additional cards, both with annual fees.

The draw is the $800 bonus from Citi and the $600 bonus from Chase.

One way to look at it is with $1,400 in bonus cash, it's like getting 7 years with 2 no-fee credit cards, yes? 

I like the 3% cash back from Citi at Restaurants, Supermarkets, and Gas Stations.  That would make it really easy to not have to think about which card to use every time I fill up, get groceries, or go out to eat.

I'm finding it harder to justify the Chase Sapphire card, except that it would add $15,000 to my overall credit available from all my cards.

Thoughts?

[wasCB14]

Have you considered the CSR? Are there any TY or UR transfer partners you tend to favor?

[StevieK]

Sorry, I'm kinda new here.  I have no idea what any of that means?!? 

[FinStar]

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@StevieK wrote:

Sorry, I'm kinda new here.  I have no idea what any of that means?!? 

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CSR = Chase Sapphire Reserve card

TY = Thank You (Citi's rewards ecosystem)

UR = Ultimate Rewards (Chase's rewards ecosystem)

[wasCB14]

One other thing to note is that these cards are geared towards people who want to redeem not for cash back but for travel. Are you a frequent traveler? Do you have any preferred hotel chains or airlines?

[StevieK]

I'm not really a traveler, no.  When I do fly, I usually go Southwest because I am usually on the western U.S. (Seattle, San Diego, San Francisco, Hawaii, Colorado, etc.).

[wasCB14]

You might take a look at the Southwest cards from Chase. Southwest doesn't really fly my routes directly so I'm not very familiar with the cards.

[Hoben02]

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@StevieK wrote:

I'm not really a traveler, no.  When I do fly, I usually go Southwest because I am usually on the western U.S. (Seattle, San Diego, San Francisco, Hawaii, Colorado, etc.).

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Why are you even considering these cards these are for travelers that's where you get maximum benefits by using their transfer partners. Based on the above look at the sapphire becuz chase has a lock on swa as a transfer partner. I'm thinking you should look at cashback cards instead

[SouthJamaica]

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@StevieK wrote:

Just the other day I was just pondering whether or not to apply for the Citi Premier card, when  out of the blue Chase offered me preapproval for their Sapphire Preferred card with a $15,000 limit (I have had a Chase Freedom Unlimited card for a little over a year). 

So now I am considering going from four cards with no annual fees and zero cards with annual fees, to two additional cards, both with annual fees.

The draw is the $800 bonus from Citi and the $600 bonus from Chase.

One way to look at it is with $1,400 in bonus cash, it's like getting 7 years with 2 no-fee credit cards, yes? 

Agreed.  And the bonuses can be worth even more than that if redeemed for travel partner points.

I like the 3% cash back from Citi at Restaurants, Supermarkets, and Gas Stations.  That would make it really easy to not have to think about which card to use every time I fill up, get groceries, or go out to eat.

Agreed. It's an excellent card.  IMHO its only drawbacks as a travel card are that it has a limited definition of travel for rewards purposes, and that it does not carry rental car collision insurance.

I'm finding it harder to justify the Chase Sapphire card, except that it would add $15,000 to my overall credit available from all my cards.

It's easier to justify if you travel and can use Chase's travel partners.

Thoughts?

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[Citylights18]

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@StevieK wrote:

Just the other day I was just pondering whether or not to apply for the Citi Premier card, when  out of the blue Chase offered me preapproval for their Sapphire Preferred card with a $15,000 limit (I have had a Chase Freedom Unlimited card for a little over a year). 

So now I am considering going from four cards with no annual fees and zero cards with annual fees, to two additional cards, both with annual fees.

The draw is the $800 bonus from Citi and the $600 bonus from Chase.

One way to look at it is with $1,400 in bonus cash, it's like getting 7 years with 2 no-fee credit cards, yes? 

I like the 3% cash back from Citi at Restaurants, Supermarkets, and Gas Stations.  That would make it really easy to not have to think about which card to use every time I fill up, get groceries, or go out to eat.

I'm finding it harder to justify the Chase Sapphire card, except that it would add $15,000 to my overall credit available from all my cards.

Thoughts?

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This kind of thing happens all the time in credit land; you think you'll go one way with your lineup then you'll get a surprise approval.

When that happens I tend to focus on how much spending I'll put on the SUB's I have on my plate before worrying about the next card. I know the CSP has a significant SUB to spend out, $4,000? That will keep you busy for a while I bet.