@vondex wrote:Additionally, if you're receiving pre-approvals for other cards with decent credit limits and SUBs, it might be worth considering if the benefits outweigh the potential hit to your credit score from a new account. Keep in mind that the impact on your credit score from a new account is usually temporary, and over time, it can contribute positively to your credit mix and overall credit health. However, if your primary goal is to maintain your existing credit history, a product change to a no-annual-fee card might be the better option for you.
Yes, @vondex that is the crux of it. Chasing a new sub is not nearly as important to me than (1) Keeping a relationship and history with Chase -while (2) moving to a no-fee card. I've gone over two years without a new account or inquiry, and I've never had such quality offers come my way, so I'll be selective when I take the hit for a new account.
I PC'd to the Flex yesterday, just before CSP was set to renew. It was tempting to go with the Freedom Unlimited to keep the same Visa number, but, it in the end it doesn't make much difference and the Flex potentially is a better fit. However, I'm still trying to figure out how I'll use it. The CSP never got used and never made sense for *me* as other cards in my wallet were stronger and the Chase points were just more drama and their travel portal never was cost-effective as other choices for *me*.
|| 
@MachoHombre I'm in the same boat as you! Not feeling the CSP anymore after couple of years. I'm planning to PC to CFF also. 👍
@MachoHombre wrote:AF for my CSP is coming in aprox 6 weeks and I won't be renewing.
I was initially excited about this card (years ago) but I never found the love. The Chase ecosystem never became appealing to me. Primarily I hate having to book through their portal when I can do better on other portals including travel partners that have through my employer. Hence the Chase rewards were not worth much and truly a PIA. I then kept the CSP another couple years thiking it was a cheap card to have because of the 50.00 hotel credit. Well, fast-forward a few years, I've yet to ever use that credit due to PIA and the rates through the portal not being competitive with other sites. Then I kept the card another couple of years to use for occassional personal rental car transactions (which was the only use the card saw) ....but I can't even justify that anymore -as the topic of "primary insurance" is complex and my AMEX cards can do the same, perhaps better, albeit with a charge.
CSP is my only relationship with Chase and I wouldn't mind keeping the relationship alive.
My thougth is to PC this card to a card with no AF and ideallly keep the stuff (payment history and age) that matters to the credit monitoring folks. **Open to any wisdom on my goal of PC'ing to a no fee Chase card that will keep my age and history alive.
= = = = = = = = = = = = = = = = = = = =
@CYBERSAM wrote:
@MachoHombre I'm in the same boat as you! Not feeling the CSP anymore after couple of years. I'm planning to PC to CFF also. 👍
Travel cards are tricky, @MachoHombre. What works for one might not work for another and we all have to make our own assessment about value. They are not as simply as no-AF cash back cards and when we have more than one choice in our wallets (like your AMEX MR's) it only adds to the complexity of the calcuations. It doesn't help that you weren't able to take full advantage of the $50 credits. I respect your decision and think you made a good choice with the Chase Freedom Flex to keep a Chase presence. I just wanted to point out a few things for our readers including @CYBERSAM who seems to be on-the-fence with CSP.
You made the choice to DOWN-size. Some might say, "I will stay and evaluate." But the third option would be to UP-grade to the potential value of a more expensive card, namely the Chase Sapphire Reserve.
For me, I see my UR's as on-par with some of my other lender families and just another option at my disposal. I noticed that both of you were trying to make CSP work by itself for you, without the magnifiying effect of the Chase "-fecta's" ... bi-fecta, trifecta, quad-fecta. That makes it hard to get the best value from Chase. The Freedom and INK cards all help to add URs more quickly. At one point, I had a quadfecta of CSR; CFU; CF; and INK Cash. In my case, as @Anonymous, I elected to close my original Fredom rotating category card since I didn't believe I was using the quarterly categories highly enough. But my INK Cash card, working from the sock drawer, gives me 5% cash monthly on cable-internet and cell phone, which is worth 7.5% to 10% when used in-portal or transferred to partners. Likewise, my Freedom Unlimited gives me 3% on drugstores (worth 4.5% to 6% when used in-portal or transferred) and 1.5% cash on everything - which is worth 2.25% to 3% when used in-portal or transferred to partners. If I transfer URs to Hyatt at valuation of about 1.7 cpp, my CFU earns 2.55% which is similar to my base earnings rate on my BoA Premium Rewards Elite with Platinum Honors, which earns 2.625% on everything in cash, and also a great backup to my AOD FCU Visa which earns 3% on everything. I like uncategorized spend cards for their flexibility and simplicity without any hoops or restrictions.
And both of you also had other travel cards that are competing for spend. Whether travel cards work at all for someone, which ones do work, and how many can be successfully balanced is a highly individualized equation. I think for most people, even those who travel fairly often, that it's easy to spread yourself too thinly with too many card programs. In my case, I erred away from AMEX Gold since it was competing for CSR spend and I felt I got better value from URs but I can see how MRs might work better for others, especially if they can maximize use of the Gold card credits.
The $550 AF on CSR - after accounting for the $300 automatic travel credits for effective AF of $250 - is $155 more expensive than CSP without the hotel credit (or $205 after the CSP hotel credit.) The split between the two is not as great as it might first appear. And what would you get from upgrading versus downgrading?
- For those who don't already have it, the CSR gives Priority Pass Lounge access.
- For those who don't already have it, the CSR gives TSA Global Entry credit $100/4 years.
- Travel insurances and protections, while good on the CSP are even better on CSR including Travel Accident insurance worth up to $1Million and Roadside Assistance (not just dispatch) that reimburses up to $50 four times annually, equivalent to AAA "Classic" Plan, about a $60 annual value. For me, I appreciate the peace-of-mind from the added-value of industry-leading travel protections, even if I'm not filing claims. For others, they won't add value for anything that doesn't pay directly.
- Besides the Purchase Protection and Extended Warranty protection on CSP, CSR also includes Return Protection. *You can be reimbursed for eligible purchases that the store won't take back within 90 days of purchase, up to $500 per item or $1,000 per year.
- Besides the complimentary Door Dash "Dash Pass" membership included with CSP, the CSR gives $5 monthly credits which can roll over up to $15 quarterly, worth potential value of $60 annually.
- In addition to the 5x UR points the CSP earns on Chase portal travel, the CSR earns 10x points on hotels and rental cars. (5x on flights). I wonder if when this is taken into account how the perceived lesser-value of the Chase portal might have changed? Those 10x points could be worth 10% (cash) to as much as 20% (when transferred to partners.) In my case, at least, when comparing Chase to third-party websites and against AMEX, I've typically found a favorable outcome with Chase even without the higher earnings.
Different strokes for different folks, but I just wanted to point out how I believe I've getting excellent value from premium Chase cards.
