PC from Chase Freedom to Chase Sapphire Preferred

[joesbrat67]

I'm looking to solicit feedback from anyone on the forum boards that may have once had a Chase Freedom and PC's to Sapphire Preferred.  I thinking of doing so for the following reasons:

1) I already have an AMEX BCP and Cap1 QS which generates cash back

2) The Freedom card has a near 24% APR.  While I do try to PIF each month, that's not always the case

3)  I don't own a travel rewards card and have heard only good things from CSP card holders

4) On the member account site, it tells me that I am pre-qualified for the CSP at 16.49% APR - far less than the Freedom

While I know that I could app for the CSP, two things come to mind:

1) I doubt very much that I will be able to spend $4K in 3 months time.  It's possible - but not definite

2) I'm not sure I want an HP on my history right now.  Perhaps in a few months, when others drop off

I would appreciate feedback, in addition to app vs PC (and if I do PC, will they do a HP anyways?)

Thanks!

[longtimelurker]

The major reason for not PCing to the CSP is that you won't get the generous sign up bonus, which is a very big plus for the card.   If you actually need the card, and you are over 5/24 or can't take an HP, then it might make sense but not sure that applies in your case.

A PC won't cause an HP or new account ding, which is why people do it.

[kdm31091]

You don't get the HP, but you also don't get the sign up bonus, meaning you'd have to be able to justify CSP on its own merits right out the gate with no initial bonus.

As far as the APR, your 24% APR will carry right over to the new account if you do a PC.

[Anonymous]

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@joesbrat67 wrote:

I'm looking to solicit feedback from anyone on the forum boards that may have once had a Chase Freedom and PC's to Sapphire Preferred.  I thinking of doing so for the following reasons:

1) I already have an AMEX BCP and Cap1 QS which generates cash back

2) The Freedom card has a near 24% APR.  While I do try to PIF each month, that's not always the case

3)  I don't own a travel rewards card and have heard only good things from CSP card holders

4) On the member account site, it tells me that I am pre-qualified for the CSP at 16.49% APR - far less than the Freedom

While I know that I could app for the CSP, two things come to mind:

1) I doubt very much that I will be able to spend $4K in 3 months time.  It's possible - but not definite

2) I'm not sure I want an HP on my history right now.  Perhaps in a few months, when others drop off

I would appreciate feedback, in addition to app vs PC (and if I do PC, will they do a HP anyways?)

Thanks!

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Going to confirm that doing a Chase P/C will not change your underlying terms and conditions. Generally, Chase leaves them in place so your hope for a better Apy would come from Chase lowering it (at your request) or you applying for a new product. Speak from experience. As always there are exceptions I am sure.

[kdm31091]

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@Anonymous wrote:

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@joesbrat67 wrote:

I'm looking to solicit feedback from anyone on the forum boards that may have once had a Chase Freedom and PC's to Sapphire Preferred.  I thinking of doing so for the following reasons:

1) I already have an AMEX BCP and Cap1 QS which generates cash back

2) The Freedom card has a near 24% APR.  While I do try to PIF each month, that's not always the case

3)  I don't own a travel rewards card and have heard only good things from CSP card holders

4) On the member account site, it tells me that I am pre-qualified for the CSP at 16.49% APR - far less than the Freedom

While I know that I could app for the CSP, two things come to mind:

1) I doubt very much that I will be able to spend $4K in 3 months time.  It's possible - but not definite

2) I'm not sure I want an HP on my history right now.  Perhaps in a few months, when others drop off

I would appreciate feedback, in addition to app vs PC (and if I do PC, will they do a HP anyways?)

Thanks!

---

Going to confirm that doing a Chase P/C will not change your underlying terms and conditions. Generally, Chase leaves them in place so your hope for a better Apy would come from Chase lowering it (at your request) or you applying for a new product. Speak from experience. As always there are exceptions I am sure.

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Chase does not lower APR, on request or otherwise. It's just something they refuse to do for whatever reason. The terms carry over in a PC and it will not change your APR.

[joesbrat67]

Good to know.  Looks like app'ing for the card is the way to go, should I decide to do so.  Thanks!