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Chase Sapphire vs. Preferred

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Drew
Frequent Contributor

Chase Sapphire vs. Preferred

I don't get the big deal about CSP. It is basically the same as CS with a tiny bit more perks. The tiny perks are useless for most people who don't spend more than 100k per year on this one credit card. I can't say for sure but I doubt the majority of people on this board are charging that much on a single credit card; however, I could be wrong. I feel a little crazy at this point because of all the CSP discussions.
Message 1 of 45
44 REPLIES 44
rustystick
New Contributor

Re: Chase Sapphire vs. Preferred

main perk is to be able to transfer UR points from freedom to CSP (makes easy earned freedom point way more valuable than just cashbacks)

 

and 1:1 to airline points (again.. lot more value to your UR points)

 

lastly.. metal Smiley Happy

CSP 10k 0 Discover It 7.8k AmazonVisa 3k Freedom 1500 US Bank Cash Rewards 1500 BofA123 3300 SallieMae 3800
Message 2 of 45
longtimelurker
Epic Contributor

Re: Chase Sapphire vs. Preferred


@Drew wrote:
I don't get the big deal about CSP. It is basically the same as CS with a tiny bit more perks. The tiny perks are useless for most people who don't spend more than 100k per year on this one credit card. I can't say for sure but I doubt the majority of people on this board are charging that much on a single credit card; however, I could be wrong. I feel a little crazy at this point because of all the CSP discussions.

The biggest real perk of CSP vs CS is the ability to transfer points to partners.   When you get the card, you get 40K points and that can be a big add to whatever airline/hotel account you have.  Using the mall, and accumulating points from Freedom and/or Ink, means you can get good rewards without spending $100K per year.

 

The CSP isn't a great EARNING card, a little like the Amex Platinum, you have it for other reasons than to spend on it.

 

Edit: i.e. what rustystick said!

Message 3 of 45
Drew
Frequent Contributor

Re: Chase Sapphire vs. Preferred

I appreciate all the feedback. But is the card really worth $95.00 per year if you don't really do any traveling? If you are looking to accumulate points for cash back, wouldn't it just be better to use Freedom vs. Sapphire. I have yet to receive my Sapphire but I really didn't see the value in upgrading based on the things that have already been mentioned. Maybe I am alone on this one.
Message 4 of 45
FinStar
Moderator Emeritus

Re: Chase Sapphire vs. Preferred


@longtimelurker wrote:

@Drew wrote:
I don't get the big deal about CSP. It is basically the same as CS with a tiny bit more perks. The tiny perks are useless for most people who don't spend more than 100k per year on this one credit card. I can't say for sure but I doubt the majority of people on this board are charging that much on a single credit card; however, I could be wrong. I feel a little crazy at this point because of all the CSP discussions.

The biggest real perk of CSP vs CS is the ability to transfer points to partners.   When you get the card, you get 40K points and that can be a big add to whatever airline/hotel account you have.  Using the mall, and accumulating points from Freedom and/or Ink, means you can get good rewards without spending $100K per year.

 

The CSP isn't a great EARNING card, a little like the Amex Platinum, you have it for other reasons than to spend on it.

 

Edit: i.e. what rustystick said!


+1

 

Essentially, a good return/offset value on the annual fee for annual spend.

Message 5 of 45
FinStar
Moderator Emeritus

Re: Chase Sapphire vs. Preferred


@Drew wrote:
I appreciate all the feedback. But is the card really worth $95.00 per year if you don't really do any traveling? If you are looking to accumulate points for cash back, wouldn't it just be better to use Freedom vs. Sapphire. I have yet to receive my Sapphire but I really didn't see the value in upgrading based on the things that have already been mentioned. Maybe I am alone on this one.

If you do not travel frequently (in addition to the intended/primary usage for this product), then you will not see any value or added benefit with the CSP to justify the annual fee.

Message 6 of 45
parakleet
Valued Contributor

Re: Chase Sapphire vs. Preferred

I'm not a heavy traveler but I am using the freedom+CSP combo to save up for a trip that I would otherwise be unable to do without the UR points. If all you're looking for is cash back then I agree that the AF isn't justified. But having said that, it's marketed primarily as a travel card. So if you don't intend to use it for travel, then you're probably looking at the wrong card. It all depends on what you're looking for. Anyone who has done any research on traveling with points will tell you that the freedom+CSP combo is pretty hard to beat at the moment. So yes, it's worth it to me if it'll get me to Europe. 😄 But YMMV.

Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Message 7 of 45
longtimelurker
Epic Contributor

Re: Chase Sapphire vs. Preferred

Yes, if you don't travel, and are looking for purely cashback, the CSP isn't the right card for the long term.   But if your credit can take an extra card, get it for the sign up bonus, cash it out and cancel when the annual fee comes due.  Good sign up bonuses usually far outdo cash back  (with a few exceptions..)

 

But for long term cards, there are a lot of no AF cashback cards, such as Fidelity Amex and Priceline Visa (2% on everything, no restrictions on what they can be redeemed for), rotating cards like Freedom/Discover , US Bank Cash Plus, Barclaycard Arrival.   But go for big sign up bonuses first, if actual cash is what you want.

Message 8 of 45
armbenderc
Valued Contributor

Re: Chase Sapphire vs. Preferred


@longtimelurker wrote:

@Drew wrote:
I don't get the big deal about CSP. It is basically the same as CS with a tiny bit more perks. The tiny perks are useless for most people who don't spend more than 100k per year on this one credit card. I can't say for sure but I doubt the majority of people on this board are charging that much on a single credit card; however, I could be wrong. I feel a little crazy at this point because of all the CSP discussions.

The biggest real perk of CSP vs CS is the ability to transfer points to partners.   When you get the card, you get 40K points and that can be a big add to whatever airline/hotel account you have.  Using the mall, and accumulating points from Freedom and/or Ink, means you can get good rewards without spending $100K per year.

 

The CSP isn't a great EARNING card, a little like the Amex Platinum, you have it for other reasons than to spend on it.

 

Edit: i.e. what rustystick said!


...and it's METAL! Smiley Very Happy

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Message 9 of 45
indiolatino61
Valued Contributor

Re: Chase Sapphire vs. Preferred


@Drew wrote:
I don't get the big deal about CSP. It is basically the same as CS with a tiny bit more perks. The tiny perks are useless for most people who don't spend more than 100k per year on this one credit card. I can't say for sure but I doubt the majority of people on this board are charging that much on a single credit card; however, I could be wrong. I feel a little crazy at this point because of all the CSP discussions.

I am planning to app for the CSP in Feb, 2014...but if in the year I see I cannot offset the AF, I will downgrade to the CS.

 photo Logo - Credit Card Collection - Data Inclusive_zpskiw5xfjj.jpg photo emerald_zpsfitcxbh5.jpg
Message 10 of 45
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