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Chase restricting Sapphire SUBs from 24mo to 48mo

marmaladepie
Regular Contributor

Chase restricting Sapphire SUBs from 24mo to 48mo

What a bummer. Was hoping to down grade CSR to Freedom at the end of the year when it hits 24mo and then reapply to get the SUB again but that might not be possible anymore.

From DOC:
https://www.doctorofcredit.com/chase-increases-chase-sapphire-preferred-reserve-sign-up-bonus-wait-p...
Message 1 of 35
34 REPLIES 34
gdale6
Moderator

Re: Chase restricting Sapphire SUBs from 24mo to 48mo

The biggest bank in America, last quarter making over 8B in pure profit and they shaft a few trying to make a living off SUBs. Thats all Im going to say before I violate board rules.
Message 2 of 35
longtimelurker
Mega Contributor

Re: Chase restricting Sapphire SUBs from 24mo to 48mo


@gdale6 wrote:
The biggest bank in America, last quarter making over 8B in pure profit and they shaft a few trying to make a living off SUBs. Thats all Im going to say before I violate board rules.

Somehow I doubt that will cause the average person in the street to set up barricades.  Churning is not exactly considered honest work by the masses (once you explain what it is).   "they shaft a few trying to use a trick who drive up costs for all" would be another view!

Message 3 of 35
K-in-Boston
Moderator

Re: Chase restricting Sapphire SUBs from 24mo to 48mo

Ouch. While I have no plans to give my CSR up, that puts a damper on later having DW downgrade her CSP to Freedom and apping for a CSP or CSR.
Message 4 of 35
FinStar
Moderator

Re: Chase restricting Sapphire SUBs from 24mo to 48mo

Not surprising news, though. The timing is interesting. Most FIs are already aware of SUB behavior since there's dedicated staff monitoring a variety of blogs and other sources.

It's also worth noting that a variety of them, regardless of competitive products in the marketplace, co-share a variety of industry practices to stay ahead of the curve, as best as they can ¯\_(ツ)_/¯

Well I suppose I'll have to PC CSP to CSR 😁 since that'll put me way out of reach!
Message 5 of 35
simplynoir
Community Leader
Super Contributor

Re: Chase restricting Sapphire SUBs from 24mo to 48mo

Well, bleep, I'm sure glad the GF double-dipped on the CSP/CSR before this happened.

Message 6 of 35
MrDFinance
Established Contributor

Re: Chase restricting Sapphire SUBs from 24mo to 48mo

Churners are ruining the SUBs for the traditional card holder... And these companies are caring less and less about regular users getting caught in the cross fire as they try to stop churners.... ....
Gardening....TCL: 100k+
Message 7 of 35
Ardecko
Frequent Contributor

Re: Chase restricting Sapphire SUBs from 24mo to 48mo

Regular users are quite oblivious to the entire game, that's what makes then regular users.

This has very little effect on them, as the typical credit mindset either leaves them with lots of high util cards (which no SUB would ever lead to positive ROI), with one to two cards that they got years ago and are content with, or zero cards (because usury! or credit is the devil's toy, or I don't need no stinking credit cards).

I expect very few regulars(percentage wise) have ever PC'd a card or are aware that SUBs exist.

This change only affects churners. If you think it affects you, see previous sentence. (I'm sorry you didn't know you were a churner. It happens.)
2017-09-09 FICO 08: EQ 677, TU 640, EX 705
2020-02-07 FICO 08: TU 789
2020-02-10 FICO 08: EX 752

Gardening, mostly, again until... soon(I need to replace my car)

Message 8 of 35
ttulaw
Established Contributor

Re: Chase restricting Sapphire SUBs from 24mo to 48mo

I understand the angst here and also the industry attempt at thwarting churners. As I sit here, I have a CSP and have considered whether I should’ve attempted a CSR. However, that’s a moot point, and I am WAY over 5/24 until March 2020. So based on the “new” rule I’ll have to wait an additional 21 months to PC my CSP and apply for a CSR and be eligible for a SUB. At the end of the day is that tragic? Absolutely not. It isn’t as if we have been blacklisted from EVER getting a SUB on those products again. And while we bemoan Chase, the Sapphire line of products must me doing something right as they are still one of the most desired travel reward/point cards available. So while I take a moment to sigh a little disappointment, it’s only 21 months and for the vast majority of people it’ll have absolutely zero impact at all.

Thank you for sharing the story and info, it’ll probably help my future planning but will not likely alter my ultimate goals!






Message 9 of 35
SBR249
Established Contributor

Re: Chase restricting Sapphire SUBs from 24mo to 48mo


@Ardecko wrote:
Regular users are quite oblivious to the entire game, that's what makes then regular users.

This has very little effect on them, as the typical credit mindset either leaves them with lots of high util cards (which no SUB would ever lead to positive ROI), with one to two cards that they got years ago and are content with, or zero cards (because usury! or credit is the devil's toy, or I don't need no stinking credit cards).

I expect very few regulars(percentage wise) have ever PC'd a card or are aware that SUBs exist.

This change only affects churners. If you think it affects you, see previous sentence. (I'm sorry you didn't know you were a churner. It happens.)

I disagree, I think there are a large proportion of CC saavy people who would not repeatedly close and open the same CCs to get SUBs which is the standard definition of CC churning that I'm aware of. Sure, SUB chasing is a thing but I'm sure most people would either keep/SD the card or close it after getting their SUB rather than repeatedly doing the same thing. 

Message 10 of 35
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