@tacpoly wrote:
This is a no-brainer. Get the CSR! And move the Slate's limit to the CSR when you close it.
The only issue is whether to close the Marriott. You'll have to make the calculation for that. My suggestion would be to not close the Marriott yet; have both for a time then decide if you need to get rid of any. If you value Marriott and UR points equally, I can see a scenario where you would use Marriott for all Marriott hotel stays and CSR for everything else.
Get the CSR & then move Slate limit over.
Keep the Marriott.
@Anonymous wrote:
@hardworkrebuilding wrote:
@tacpoly wrote:
This is a no-brainer. Get the CSR! And move the Slate's limit to the CSR when you close it.I would love to do just that... But since the Slate is a joint card, no consolidation is possible. (this is why it will be eventually closed, it's just floating out there in credit card deep space)
Is it TRULY "JOINT" or is one or the other an AU. Joint cards are really rare. If someone else is an AU, kick them off and move the limit. If you're the AU, get off the card and let the other person deal.
I agree with keeping the MR and letting things coexist for a while. I 'get' self imposed limits, particularly for over thinkers. But you asked for comments and that's one that keeps coming up. I doubt you'll regret getting the CSR. You could regret dropping the MR (Does whatever they provide free for the annual fee benefit you? It's on the same log-in as the CSR so it will be easy to manage.) so wait on that part.
I love my Discover for various reasons at various times. But if you feel that's the one that's doing you no good (on their %#*@ list) then maybe that's the one to close IF you feel the need to close something to open the CSR.
Thanks, TortoiseWins.
Yes, it is the actual rarity (a true joint account). After divorce and career change (and re-marriage to the most wonderful woman on Earth), I was an AU on the Slate account my Dad opened for my use. After about 4 years (as I was starting to see the positive effects of rebuilding, scores were good enough for a mortgage), Chase agreed to change me from an AU to a joint account holder. On the plus side, the full history as an account holder (not just AU) gave me a credit boost which opened the door for my current situation. The only downside, the account will be forever stuck in its current state until closure. It has served me well, but will eventually be closed.
@hardworkrebuilding wrote:
@Aahz wrote:Given all the data you've provided it sucks to say that I don't have enough info for a definitive answer. But, honestly, I could never have enough data for that since I'm not living your life (as far as I know
)
Having said that, I can only think of two probing questions that may help with your decision-
1) How valuable to you is earning Marriott Lifetime Platinum soner rather than later?
2) Did you remember to calculate in that with the CSR your UR points can be redeemed at 1.5x?
You said "the 3X's points for travel is pretty close to to the 5X's I get for Marriott on my MR card and better than the 2X dining I get for the same card." Bt, assuming you redeem the UR for the same thing you're redeeming Marriott points it's actually 4.5x for travel & dining which (most likely) exceeds the value of your current 5x Marriott & 2x dining.
So, do understand correctly? I would get 1.5 Marriott points for every UR point instead of the 1:1 transfer with the Sapphire Preferred? Or, you're saying I could use UR points for the "stay" and get the 1.5X redemption value?
I gotta say, this may seem like a no brainer, but the fact that I don't want to add cards and the CSR will take place of MR card is what makes this so difficult. I did this before with the IHG card and ended up closing it because it was competing with the Marriott (which was a better card for me) therefore it lost. The CSR appears to be a great card, but only if it is used to its potential, hence dropping the Marriott card.
I don't travel, so follow a cash back strategy personally. Meaning I don't have any personal experience paying with or transferring UR points.
The CSR page states-
- Get 50% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®.* For example, 100,000 points are worth $1,500 toward travel
So I suppose the bonus wouldn't apply when transferring, but you might want to check with a more experienced traveller.
One thing I didn't mention before-
Assuming that you do earn the travel credit every year (which you clearly will) and that you redeem all of your UR through Chase Ultimate rewards, then that sign up bonus translates to the annual fee being waived for 10 years. Even if you transfer all those URs at 1:1 (or cash them out at $0.01 each) the annual fee is still covered for 6 years.
Even forgetting that, if the CSR replaces the MR your effective AF "increase" is only $65 ($450 CSR - $300 travel credit - $85 curent MR AF). $6500 in dining on the CSR will earn you $65 more than on the Marriott, so I don't see any way the MR wins.
@Anonymous wrote:
@Anonymous wrote:
Well you're going to get a bias opinion in here, Everyone in this forum is a bonus churner and credit addict and is going to say yes app for it, but then that's why everyone is always over the 5/24 rule and make posts like " chase closed all my account" or " just got a financial review because too many opened new accounts" etc Etc. Its an on going vicious cycle, everyone always hops out of the garden " one last time" because this is a big sign up bonus. By next month a new card comes out again with an even bigger sign up bonus and the cycle repeats itself. It's good you're thinking it through and debating about it. Unlike some people, and they wonder why they never get under the 5/24 rule becsuse they're constantly risking their profile for a measly $1500 reward that I'm sure plenty of high incomers in here can make easily and quickly.
I'm playing devils advocate here lol. So make sure you definitely want the card and it's useful to you and not opening a new account just for the sign up bonus because it's an on going habit that can never stop for some. do you truly need it? Do you already have all the cards you need already? Guess choice is up to youEveryone?
He meant that everyone is a bonus churner, or is hoping to be one someday.
As for the original poster, have you been pressing the button to request a crdit limit increase on the Discover card each month? They have started to be *extremely* generous with increases, but you do have to request them...
@Themanwhocan wrote:
@Anonymous wrote:
@Anonymous wrote:
Well you're going to get a bias opinion in here, Everyone in this forum is a bonus churner and credit addict and is going to say yes app for it, but then that's why everyone is always over the 5/24 rule and make posts like " chase closed all my account" or " just got a financial review because too many opened new accounts" etc Etc. Its an on going vicious cycle, everyone always hops out of the garden " one last time" because this is a big sign up bonus. By next month a new card comes out again with an even bigger sign up bonus and the cycle repeats itself. It's good you're thinking it through and debating about it. Unlike some people, and they wonder why they never get under the 5/24 rule becsuse they're constantly risking their profile for a measly $1500 reward that I'm sure plenty of high incomers in here can make easily and quickly.
I'm playing devils advocate here lol. So make sure you definitely want the card and it's useful to you and not opening a new account just for the sign up bonus because it's an on going habit that can never stop for some. do you truly need it? Do you already have all the cards you need already? Guess choice is up to youEveryone?
He meant that everyone is a bonus churner, or is hoping to be one someday.
As for the original poster, have you been pressing the button to request a crdit limit increase on the Discover card each month? They have started to be *extremely* generous with increases, but you do have to request them...
Yes. I have "pressed the button" several times this year. Got two CLI's for a whopping 2k total increase. Don't mean to sound snooty, but given my scores, profile, income, etc. it's just not enough to convince me this account isn't "marked" in some manner.