HOLD or FOLD? Amex Platinum, Chase Sapphire Reserve

[Anonymous]

Hey all

It's early, but I wanted to get some thoughts. I got the Chase Sapphire Reserve, made my spend and got the 50K bonus (was still in credit purgatory when the 100K was around). Got the 100K offer from Amex Platinum so now have that as well. After the spend is done for the AMEX, I will look into other bonuses out there but one thing at a time.

Total annual fees on the cards are $1000.
CSR has $300 travel (which I already made back) so that's $700
AMEX has $200 Uber credit which I WILL use so now we are at $500
AMEX has air credit $200 (twice) in the first year so let's say that brings it down to $100 total for these cards and all their awesome perks (which I am using).

For year two... hold on to ONE? Hold on to BOTH? Downgrade to no-fee versions that keep the points? Are retention offers really a viable route? On both?

Much thanks FicoFam!

[wasCB14]

There is not a no-AF downgrade option for Platinum. Retention offers are common.

There are no-AF downgrade options for CSR. Retention offer are rare.

I have both (Schwab Platinum with $100/$200 loyalty credit) and plan to keep both.

[Anonymous]

The 'downgrade' would potentially consist of:

Open AMEX Every Day (No AF) before closing the Platinum to keep MR points.
For the Chase, I was told they would open a no-fee Freedom Card to keep the points intact and have a way to keep that account 'in the same family' so it would not show as a closed account on CR...

[wasCB14]

Keep in mind the Uber credits trickle out a little at a time and expire at the end of each month. From your posts, it's not clear if you know that or not.

Yes, an Amex ED would save your MRs. Yes, a PC to Chase Freedom would keep the account open without an AF.

[Anonymous]

Re: UBER... yes, I was bummed to learn that, but in the end, very manageable. Whether used for rides or food, that credit will fully be used.

[Shadowfactor]

Did chase discontinue the no AF sapphire card ?
It was basically a CSP without the transfer options from what I read about it.

I know you can’t outright app for it but I thought it was a product change card

[wasCB14]

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@Shadowfactor wrote:
Did chase discontinue the no AF sapphire card ?
It was basically a CSP without the transfer options from what I read about it.

I know you can’t outright app for it but I thought it was a product change card

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I think Sapphire is closed to new apps. I don't know if old cards still exist or if it's possible to PC to one.

I believe (I'm not certain) Sapphire was 2x on dining (like CSP) but only gave the base 1x on travel. Also, I think it charged an FTF. Supposedly it shared the CSP's customer service rep pool, though.

[Shadowfactor]

The last thing I saw about the No-AF sapphire was that it was closed to new apps but product changes were still viable. It was discussed on DOC 6 months or so ago.

[NRB525]

OP if you are a world traveler, best to keep both. You earn points in both systems, MR and UR, which can be transferred to some common airlines, or to specific airlines per program.  The points earning in many types of travel categories are quite good. 

Access to to the airport lounges is an important perk you didn’t list. Stalkers find it difficult to get in. 

Having both, as your main cards, is actually a simplified, easy to manage points earning strategy. The time necessary to really optimize a more complex points earning method can be a low return per hour spent on that optimization planning. 

[Anonymous]

Cool. Since you get lounge access on both I consider that an overlap. I don’t fly Delta enough nor go to AMEX airports enough to consider one better than the other in that regard. I am hoping there is a decent retention offer from AMEX. As the CSR is actually easy enough to justify for me.