Just got the CSP 2 months ago, now i want the Reserve!

[Anonymous]

Alright so im in a pickle right now. I jumped in heads first on the CSP about 2 months ago and just completed the Trifecta a couple weeks ago. I realize now that i should have gotten the Reserve. I know to do a straight upgrade i would have to wait a year since the annual fee is higher. Im wondering if its worth me applying for the Reserve and if i get approved just cancel the preferred. My credit and income is good so im not worried about getting denied for those reasons, im worried about 2 things. In the last couple of days ive seen that Chase wont let you hold 2 Saphire cards at the same time now (Although i asked a chase CSR about this and they said they've never heard of that). The other thing im worried about is the 5/24 rule. In the last 24 months im at 5 cards, Amex Gold, Amex BCE, CSP, Freedom, Freedom Unlimited. So it seems like its a slim chance of approval, just wanted to see what you all think. Thank you!

[K-in-Boston]

You are correct that the policy has changed; it just began this week so it likely hasn't become common knowledge throughout Chase.  They are sticklers about the 5/24 rule, though.  If you have a branch nearby, you could always go in to see if you have a preapproval there which would bypass 5/24 and may be able to squeak in with the new multiple Sapphire rule.

[Anonymous]

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@Anonymous wrote:

Alright so im in a pickle right now. I jumped in heads first on the CSP about 2 months ago and just completed the Trifecta a couple weeks ago. I realize now that i should have gotten the Reserve. I know to do a straight upgrade i would have to wait a year since the annual fee is higher. Im wondering if its worth me applying for the Reserve and if i get approved just cancel the preferred. My credit and income is good so im not worried about getting denied for those reasons, im worried about 2 things. In the last couple of days ive seen that Chase wont let you hold 2 Saphire cards at the same time now (Although i asked a chase CSR about this and they said they've never heard of that). The other thing im worried about is the 5/24 rule. In the last 24 months im at 5 cards, Amex Gold, Amex BCE, CSP, Freedom, Freedom Unlimited. So it seems like its a slim chance of approval, just wanted to see what you all think. Thank you!

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Regardless of what the Chase CSR told you, Chase is now limiting the number of Sapphire cards that you can have and you're already at 5/24. THerefore, your chances of being approved are very very low if not 0, and you would be wasting an inquiry or two.

[Anonymous]

I would go in branch and talk to someone about your situation and see if there's any chance of getting what you want.  Doing it online will be a 100% denial, so definitely don't do that. 

[Anonymous]

Thanks all!

[Anonymous]

Closest branch is 3 hours

[K-in-Boston]

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@Anonymous wrote:

Closest branch is 3 hours

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I know the feeling.  Not a single branch closer to Boston than New Haven, CT.

[Anonymous]

I would ask to PC if I've seen people do it only a month after having it. It's worth a shot!

Since CSP has no first year AF you wouldn't lose that and you'd just owe the AF for CSR. That may be your best okay here and since both sign up bonuses are the same you don't lose anything either

Just my two cents

[Anonymous]

That's still crazy to me that the biggest bank in the country is 3 hours away for some people... and not even in major cities?  I've got probably 5 Chase branches within a 20-30 minute drive and I'm in a city of 35k people.

[UpperNwGuy]

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@Anonymous wrote:

That's still crazy to me that the biggest bank in the country is 3 hours away for some people... and not even in major cities?  I've got probably 5 Chase branches within a 20-30 minute drive and I'm in a city of 35k people.

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Once upon a time, all banks operated only in a single state.  The rapid expansion of banks across state lines has mostly been the result of mergers and acquisitions since the banking laws changed.  I live in DC, and the nearest Chase branch is in New Jersey.  I fully expect, however, that Chase will acquire one of the smaller or medium-sized banks serving DC so they can better compete with Citi, Wells Fargo, and Bank of America, all three of whom are already here.  Chase's CEO has stated that his bank needs a DC presence to better influence the US Congress.