The way I look at it, for essentially $50 more you can earn 1x more for travel and dining with the CSR than the CSP.
If your spend justifies the $50, then this is a no brainer for most. I rarely hear complaints of CSP's earning potential for those that utilize it favorably.
The fact that we automatically assume it has to also carry perks comparable to Prestige (pre-nerf) or Platinum because they carry the same annual fee is ignoring the bigger picture.
It's almost always about will perks and/or spend justify the annual fee based on your behavior.
I did some minor number-crunching on the CSR for the first 3 months if one applied October 3rd and assuming the same sign-up bonus of 100k UR at that time (which one would imagine it should), and it comes out ahead of $4k spend on a $0 annual fee 5% category card as long as you use all the black and white credits it offers ($300 calendar year travel bonus plus $100 reimbursement of global entry fee), and use points at a minimum for the 1.5% return on travel. I did not include Priority Pass entry since the fee and frequency of usage could vary per location (although I have no clue, never used a lounge before) and per individual, respectively. I also did not take into consideration any spend on the FU or Freedom. Obviously with enough hotel stays one could outweigh this with the Prestige, but I figured this would be food for thought for somebody who spends modestly yet doesn't travel frequently and/or internationally.
Apply October 3rd, giving the user 90 days to spend $4k. This would carry into January 1st, 2017, allowing the cardholder to use the $300 travel credit twice while also racking up spend toward the bonus.
- +$450 annual fee
- -$600 travel credit
- -$27 minimum return for 3% spend on the $600 travel through UR portal
- -$100 global entry fee
- -$51 minimum return for 1% spend on the rest of the $3400 (which includes global entry plus the $3300 other spend to meet bonus) as long as used toward UR portal travel
- -$1500 minimum after bonus spend, as long as using it towards UR travel portal
- Net: $1828
Spend $4k on 5% category on some other card, Net: $200
That's one hell of a difference in net gain, even if one wouldn't normally spend the $100 on something like a global entry fee. You could even argue the sign-up bonus outweighs the potential travel credits if you didn't even want to spend on travel just yet in the first 3 months. Using the method above, you could theoretically keep the card and use it for absolutely nothing else after the bonus spend and $700 in credits within the first 3 months and STILL have a net gain for another four years until the annual fees finally eat away the net gain.
Different strokes for different folks. Some people just don't travel a lot, if at all. Others would rather cash back instead of being forced to redeem for travel. Some don't want to feel pressured to spend $4k in the first 3 months if they wouldn't normally. Others don't like points because it locks them into only couple of travel partners. Some prefer MR or TY since they like those partners better.
To me personally, this card is a winner even for the modest traveler, though obviously your absolute maximum benefit from points may be flying first class to international destinations. I'm just fine redeeming for Gotta Get Away Southwest fares and staying at a Category 1-4 Hyatt or Marriott. If I'm better off using the travel portal to book than transfers to partners, then so be it too. The bonus categories by using CSR and other UR based cards will just make it icing on the cake.
I'll be using this card to book cheaper cruises out of Florida, the Gulf Coast, or West Coast, while also being able to enjoy those locales as a pre and/or post cruise vacation since I will/could be flying and staying at a hotel for free, rather than spending the extra few hundred on the cruise to sail out of much closer, but less enjoyable, NYC. I'll have a honeymoon sometime in the future (2-3 years) as well, so perhaps I could continue to save and save points for a free European trip. Sometimes, you have to think above and beyond numbers and consider your own personal enjoyment benefits too 
I did some minor number-crunching on the CSR for the first 3 months if one applied October 3rd and assuming the same sign-up bonus of 100k UR at that time (which one would imagine it should), and it comes out ahead of $4k spend on a $0 annual fee 5% category card as long as you use all the black and white credits it offers ($300 calendar year travel bonus plus $100 reimbursement of global entry fee), and use points at a minimum for the 1.5% return on travel. I did not include Priority Pass entry since the fee and frequency of usage could vary per location (although I have no clue, never used a lounge before) and per individual, respectively. I also did not take into consideration any spend on the FU or Freedom. Obviously with enough hotel stays one could outweigh this with the Prestige, but I figured this would be food for thought for somebody who spends modestly yet doesn't travel frequently and/or internationally.
Apply October 3rd, giving the user 90 days to spend $4k. This would carry into January 1st, 2017, allowing the cardholder to use the $300 travel credit twice while also racking up spend toward the bonus.
+$450 annual fee
-$600 travel credit
-$27 minimum return for 3% spend on the $600 travel through UR portal
-$100 global entry fee
-$51 minimum return for 1% spend on the rest of the $3400 (which includes global entry plus the $3300 other spend to meet bonus) as long as used toward UR portal travel
-$1500 minimum after bonus spend, as long as using it towards UR travel portal
Net: $1828
Spend $4k on 5% category on some other card, Net: $200
That's one hell of a difference in net gain, even if one wouldn't normally spend the $100 on something like a global entry fee. You could even argue the sign-up bonus outweighs the potential travel credits if you didn't even want to spend on travel just yet in the first 3 months. Using the method above, you could theoretically keep the card and use it for absolutely nothing else after the bonus spend and $700 in credits within the first 3 months and STILL have a net gain for another four years until the annual fees finally eat away the net gain.
Different strokes for different folks. Some people just don't travel a lot, if at all. Others would rather cash back instead of being forced to redeem for travel. Some don't want to feel pressured to spend $4k in the first 3 months if they wouldn't normally. Others don't like points because it locks them into only couple of travel partners. Some prefer MR or TY since they like those partners better.
To me personally, this card is a winner even for the modest traveler, though obviously your absolute maximum benefit from points may be flying first class to international destinations. I'm just fine redeeming for Gotta Get Away Southwest fares and staying at a Category 1-4 Hyatt or Marriott. If I'm better off using the travel portal to book than transfers to partners, then so be it too. The bonus categories by using CSR and other UR based cards will just make it icing on the cake.
I'll be using this card to book cheaper cruises out of Florida, the Gulf Coast, or West Coast, while also being able to enjoy those locales as a pre and/or post cruise vacation since I will/could be flying and staying at a hotel for free, rather than spending the extra few hundred on the cruise to sail out of much closer, but less enjoyable, NYC. I'll have a honeymoon sometime in the future (2-3 years) as well, so perhaps I could continue to save and save points for a free European trip. Sometimes, you have to think above and beyond numbers and consider your own personal enjoyment benefits too
