Is Chase worth it?

[longtimelurker]

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@Anonymouswrote:

Citi Thank You has a lower APR than CSP, as well as no AF. The points all seem to be very close. Aside from the 5% quarterly if you meet criteria. I had also considered  the Expedia+ Card as it comes with 15K point sign up bonus, and I book through them quite often.

The Diamond Preferred just doesn't have any useful type of reward points. Plus the BT fees are on the higher side.

I really don't want another AF card, but I've head some good stuff about CSP. Plus the sign up bonus is nice. I don't always fly the same airline, nor stay at the same Hotels. So I was hoping to get a card that wasn't built around one particular entity. 

Essentially a card that accrues points that can be redeemed how you like, on whatever.

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I wasn't comparing the TY Pref to the CSP particularly, but if we did: the points from CSP are transferable to a much bigger set of airline partners, at a reasonable ratio, TY Pref only to Jet Blue.   You can also buy travel through the Chase portal at 1.25c per point with the CSP, don't think the TY Preferred has any such bonus.

But really I was wondering why that rather than say the Double Cash, which is much more useful

[longtimelurker]

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@MAZDA3wrote:

Chase is fine for the lower spend bonus options. Being Visa, CSP makes it more difficult to meet $4k spend if you meet that spend using Plastiq to pay your mortgage. Citi is Mastercard so more flexible in that regard. 

I like Citi, and I like Chase for lower spend bonus cards. Now if Citi made Doublecash points transferrable into Thank You points like the CSP/Freedom combo.....i’d be very happy.

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What do you use TY Points for (assuming you just have the Preferred)?

[red259]

For Citi TY points I think those are only worth going after if you will get a large signup bonuse. That being said if you get a citi card where they waive the AF it may not be a bad deal to take it and get the signup and then PC to the citi double cash after a year. I PC'd to a double cash because I think is a great cash back card with no AF. 

[Anonymous]

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@red259wrote:

For two other credit cards posting as new accounts at the time of a chase app approval? So three cards total and chase will shutdown all accounts even on people who are prime customers? Do you have data points on this because it doesn't make a hell of a lot of business sense. 

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 All Chase cards closed, including 2 recent SW (almost 7 yr history total, a lot of Chase cards):
https://www.flyertalk.com/forum/29413876-post1761.html

3 credit cards opened last 2 months, only 1 Chase (oldest card 36 mo., did have quite a few other cards; official explanation was too many cards opened last 2 months):
https://www.reddit.com/r/churning/comments/68j7zy/

16 months credit history, total 5 cards including 2 closed by Chase:
https://www.flyertalk.com/forum/29491608-post1803.html

All these happened shortly after applying and being approved by Chase. OP will have 5 cards on reports after the two Amex cards report.

[red259]

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@Anonymouswrote:

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@red259wrote:

For two other credit cards posting as new accounts at the time of a chase app approval? So three cards total and chase will shutdown all accounts even on people who are prime customers? Do you have data points on this because it doesn't make a hell of a lot of business sense. 

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 All Chase cards closed, including 2 recent SW (almost 7 yr history total, a lot of Chase cards):
https://www.flyertalk.com/forum/29413876-post1761.html

3 credit cards opened last 2 months, only 1 Chase (oldest card 36 mo., did have quite a few other cards; official explanation was too many cards opened last 2 months):
https://www.reddit.com/r/churning/comments/68j7zy/

16 months credit history, total 5 cards including 2 closed by Chase:
https://www.flyertalk.com/forum/29491608-post1803.html

All these happened shortly after applying and being approved by Chase. OP will have 5 cards on reports after the two Amex cards report.

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The first guy had six chase cards at the time he apped and he applied for two more SW chase cards within the span of one week giving him eight chase cards total. His avg credit history isn't seven years. He had one card for seven years. All the rest of his cards were obtained within the last two years. 50% of his spending on his ink card was on gift cards. 

The second guy had 14 credit cards with 13 months AAoA, he was over 5/24 and apped for 3 cards in the same day on top of that he had loans.  Even with all that his cards were all reinstated and had other recent loans as well.

The third guy had only 16 months of credit history appears to not be from the US originally and was told by chase the reason was not enough credit information on file. 

In all three scenarios there seems to be other flags going on. I really don't think three new cards with someone with a thick file (assuming only one of them is chase) is going to cause a problem. As to the OP it sounds like one card is almost two years old. To me the risk factor would be more about when last year the OP receieved the other 2 cards if within the last six months then probably not a good idea to push it. If its been over a year I would think the risk would be less. If OP doesn't have any chase cards then all they have to lose is one card being shutdown and honestly I think chase will be more lax about one credit card account vs OP having several chase card accounts. 

[MAZDA3]

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@longtimelurkerwrote:

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@MAZDA3wrote:

Chase is fine for the lower spend bonus options. Being Visa, CSP makes it more difficult to meet $4k spend if you meet that spend using Plastiq to pay your mortgage. Citi is Mastercard so more flexible in that regard. 

I like Citi, and I like Chase for lower spend bonus cards. Now if Citi made Doublecash points transferrable into Thank You points like the CSP/Freedom combo.....i’d be very happy.

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What do you use TY Points for (assuming you just have the Preferred)?

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I have a new Premier card and haven’t used them yet. My plan is to use a majority of them for my hotel stay in Singapore next year. Three days there before returning to Bangkok to see what I did not see in 2015. If my math is right, it takes 78k Avianca miles for a one way biz class US-SIN, so if Avianca offers the 60k bonus next year after my BK falls off I will app for that and then transfer 18k TY points to Avianca. I’ve collected Thai and Lufthansa Rimowa kits. EVA and ANA are all I need to complete the collection. And EVA gives them out in biz.

[longtimelurker]

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@MAZDA3wrote:

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@longtimelurkerwrote:

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@MAZDA3wrote:

Chase is fine for the lower spend bonus options. Being Visa, CSP makes it more difficult to meet $4k spend if you meet that spend using Plastiq to pay your mortgage. Citi is Mastercard so more flexible in that regard. 

I like Citi, and I like Chase for lower spend bonus cards. Now if Citi made Doublecash points transferrable into Thank You points like the CSP/Freedom combo.....i’d be very happy.

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What do you use TY Points for (assuming you just have the Preferred)?

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I have a new Premier card and haven’t used them yet. My plan is to use a majority of them for my hotel stay in Singapore next year. Three days there before returning to Bangkok to see what I did not see in 2015. If my math is right, it takes 78k Avianca miles for a one way biz class US-SIN, so if Avianca offers the 60k bonus next year after my BK falls off I will app for that and then transfer 18k TY points to Avianca. I’ve collected Thai and Lufthansa Rimowa kits. EVA and ANA are all I need to complete the collection. And EVA gives them out in biz.

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Yes, with the Premier or Prestge things are different.   With just the preferred, there is only one transfer partner (at a lower rate) and I think in that situation moving points FROM TYP to double cash points would be preferable!

[Anonymous]

Closing your chase because your 2 AMEX reporting...I think it’s a case by case basis. If you want a Chase and NEED it, go for it.

[wasCB14]

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@MAZDA3wrote:

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@longtimelurkerwrote:

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@MAZDA3wrote:

Chase is fine for the lower spend bonus options. Being Visa, CSP makes it more difficult to meet $4k spend if you meet that spend using Plastiq to pay your mortgage. Citi is Mastercard so more flexible in that regard. 

I like Citi, and I like Chase for lower spend bonus cards. Now if Citi made Doublecash points transferrable into Thank You points like the CSP/Freedom combo.....i’d be very happy.

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What do you use TY Points for (assuming you just have the Preferred)?

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I have a new Premier card and haven’t used them yet. My plan is to use a majority of them for my hotel stay in Singapore next year. Three days there before returning to Bangkok to see what I did not see in 2015. If my math is right, it takes 78k Avianca miles for a one way biz class US-SIN, so if Avianca offers the 60k bonus next year after my BK falls off I will app for that and then transfer 18k TY points to Avianca. I’ve collected Thai and Lufthansa Rimowa kits. EVA and ANA are all I need to complete the collection. And EVA gives them out in biz.

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I confess I've been using mine for 1.25 cpp flight redemptions on Prestige. 1.6 on AA while it lasted. I know I could accumulate and possibly transfer them, but I like to have few points to lose (or hurriedly use) when I play retention games.

I had previously thought about using FlyingBlue to book some Delta award flight or other. I might visit family in Hawaii, and that's one destination where (last I checked) it was cheaper to book a Delta metal award with FlyingBlue than Delta. But Delta has no close-in award fee, the award price differences aren't always that big, and Delta award availability can be scarce on FB. So my FB mile balance may just sit at 0.

[UpperNwGuy]

In answer to your original question, yes, Chase cards are definitely worth it.  I recommend the Freedom, the Freedom Unlimited, the Sapphire Preferred, and the Sapphire Reserve.  The Freedom is worth having in its own right, as it's the best 5% rotating category card available from any bank.  The Freedom Unlimited earns only 1.5%, but if you also have one of the two Sapphire cards you can transfer the points and increase their value.