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Product change. Sapphire Preferred to Reserve. Will I get bonus?

josh9955
New Member

Product change. Sapphire Preferred to Reserve. Will I get bonus?

I have had the Sapphire Preferred card for about 5 years now.  I want to product change to reserve..but will I get the signup bonus if I do?

Message 1 of 10
9 REPLIES 9
Obscure-Expert
Valued Contributor

Re: Product change. Sapphire Preferred to Reserve. Will I get bonus?

no... new acocunts only.... and with the advent of the 48 month rule and other things related to Sapphire products there's no real easy way to accomplish a bonus at this point with an existing card in place even with a PC and then adding a new CSR to get the bonus.

500K+ TCL / 800+ FCOs
Message 2 of 10
judokaal
Established Member

Re: Product change. Sapphire Preferred to Reserve. Will I get bonus?

If you want to keep the 5 years of credit history, you could downgrade the Sapphire to a Freedom, apply for a new Sapphire Preferred (since the SUB is higher than the Reserve at the moment), and then upgrade that Preferred to a Reserve.

I have no idea about how long after reapplying and getting Sapphire #2, to upgrade - I am sure the more knowledgable members of the board can chime in.


Message 3 of 10
Remedios
Moderator

Re: Product change. Sapphire Preferred to Reserve. Will I get bonus?

CSP can be upgraded to CSR after a year 

 

The difference in SUB is really not that relevant because AF is not waived for the first year on CSP with higher SUB. Reserve is a better card anyway, might as well go for that one

 

If you decide to PC your CSP to one of the freedoms, wait  at  least 45 days after the change before you apply for a different card in Sapphire family. 

Message 4 of 10
FieryDance
Frequent Contributor

Re: Product change. Sapphire Preferred to Reserve. Will I get bonus?

Are you under 5/24?  

 

If so since you are already out of the Sapphire SUB restriction window why not apply for a new CSR for the SUB and then downgrade CSP to CF or CFU?  

Message 5 of 10
Obscure-Expert
Valued Contributor

Re: Product change. Sapphire Preferred to Reserve. Will I get bonus?


@FieryDance wrote:

Are you under 5/24?  

 

If so since you are already out of the Sapphire SUB restriction window why not apply for a new CSR for the SUB and then downgrade CSP to CF or CFU?  


The other issue is you can't have both at the same time or apply for CSR while having an open CSP.  It's a delay to shuffle things around which tampers the earnings you would be making while waiting out the period of time required to get things to go through and shake out in their systems to not get denied for the bonus.

500K+ TCL / 800+ FCOs
Message 6 of 10
FieryDance
Frequent Contributor

Re: Product change. Sapphire Preferred to Reserve. Will I get bonus?

@Obscure-Expert wrote:

@FieryDance wrote:

Are you under 5/24?  

 

If so since you are already out of the Sapphire SUB restriction window why not apply for a new CSR for the SUB and then downgrade CSP to CF or CFU?  


The other issue is you can't have both at the same time or apply for CSR while having an open CSP.  It's a delay to shuffle things around which tampers the earnings you would be making while waiting out the period of time required to get things to go through and shake out in their systems to not get denied for the bonus.


That’s right, there is the no 2 Sapphire rule.  How about downgrading CSP first to CF/U and then apply for CSR?  Any restriction to that idea?  

Message 7 of 10
Obscure-Expert
Valued Contributor

Re: Product change. Sapphire Preferred to Reserve. Will I get bonus?


@FieryDance wrote:
@Obscure-Expert wrote:

@FieryDance wrote:

Are you under 5/24?  

 

If so since you are already out of the Sapphire SUB restriction window why not apply for a new CSR for the SUB and then downgrade CSP to CF or CFU?  


The other issue is you can't have both at the same time or apply for CSR while having an open CSP.  It's a delay to shuffle things around which tampers the earnings you would be making while waiting out the period of time required to get things to go through and shake out in their systems to not get denied for the bonus.


That’s right, there is the no 2 Sapphire rule.  How about downgrading CSP first to CF/U and then apply for CSR?  Any restriction to that idea?  


Other than time to process through and clear for approval of the new card no.  

500K+ TCL / 800+ FCOs
Message 8 of 10
Aim_High
Senior Contributor

Re: Product change. Sapphire Preferred to Reserve. Will I get bonus?

@judokaal wrote:

"... since the SUB is higher (on the Sapphire Preferred) than the Reserve at the moment... "


It depends on how you redeem it. 

 

If you plan to use the points for travel through UR portal, it doesn't matter.  They are identical even though CSP gives 60K points vs 50K points for CSR.  That's because the multiplier on CSP is 25% and CSR is 50%.  They both are worth $750 in travel redemptions through Chase after that valuation.

 

If you're just going to cash them out (poor choice), you'd only get $600 for CSP or $500 for CSR, so yes the CSP SUB is slightly higher, but who would want to do that with either card since the AFs are also not being waived the first year?

 

If you transfer them to partners, they go at 1:1 so yes, you get 10K more points with CSP. The valuation of those extra 10K points depends on what you do with them.  You might actually end up with less value with CSP's 60K UR than you would with CSR's lesser 50K SUB redeemed through Chase portal.  You'd need to get at least 1.25 ccp to break even.  Hyatt is a Chase partner and points are worth 1.7 ccp, so that's a good value.  Transfer to United is almost a wash at 1.3 ccp.  In other words, your extra 10K points yields you a very small reward over the smaller CSR SUB redeemed via portal.  Transfer to IHG hotels is the worst value for UR points at only 0.5 ccp.  So your 60K UR points would be worth $300 versus $750 directly through Chase.  When it comes to transfer to partners with Chase or any other program, YMMV and greatly at that.  Buyer beware.

 

 

 






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Message 9 of 10
longtimelurker
Mega Contributor

Re: Product change. Sapphire Preferred to Reserve. Will I get bonus?


@Aim_High wrote:
@judokaal wrote:

"... since the SUB is higher (on the Sapphire Preferred) than the Reserve at the moment... "


It depends on how you redeem it. 

 

If you plan to use the points for travel through UR portal, it doesn't matter.  They are identical even though CSP gives 60K points vs 50K points for CSR.  That's because the multiplier on CSP is 25% and CSR is 50%.  They both are worth $750 in travel redemptions through Chase after that valuation.

 

 

 

 


Yes, but this assumes short-term redemption.  The suggested plan was (after downgrade of existing card) apply for CSP for the SUB and then (presumably after a year) PC to CSR.   Then the greater number of URs can be redeemed at the CSR rate.   Of course, this way you have lost a year in using the points, which potentially has some cost.

Message 10 of 10
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