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Question on maximizing Chase UR Points with CSP, CSR & Freedom

f4phantom2500
Established Contributor

Re: Question on maximizing Chase UR Points with CSP, CSR & Freedom

Not really, the csp is csr lite. Especially since you can't get both sign up bonuses even if you could get approved for both cards. The potential upshot of having the CSP year 1 instead of the csr is that the annual fee is waived year one for the CSP, then you can upgrade it to the csr in year 2.

If the big draw for you was having 2 freedoms, again I'd suggest looking at the freedom unlimited or slate as you can PC either of those to a freedom after the first year just like the sapphire preferred.

Also, setting up a sole proprietorship that will allow you to get business cards cost me like $25 and just as many minutes at the city's offices. I actually went to the chase branch on the way home after and applied for the ink preferred, for which I was approved with a few days wait (but it went smoothly, no real hangups just that it wasn't an instant approval - but I can say the same for my CSP)
Chase UR: Amex MR:Citi TY:
Cash back:Travel:
Debit: + DCU savings acct for 5.12% APY for $1k
Message 11 of 25
NRB525
Super Contributor

Re: Question on maximizing Chase UR Points with CSP, CSR & Freedom

The main point to understand is, Chase won’t let you have both CSP and CSR. You also only get 1 (one) Sapphire Sign Up Bonus on any CSP or CSR every 48 months. You cant sign up for CSP, get 50,000 UR bonus, then PC to Freedom and get a CSR with another 50,000 UR bonus unless it is 48 months after that CSP bonus.  

 

How many MR points do you have? And do I understand you don’t have an AMEX Gold?

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 12 of 25
bourgogne
Valued Contributor

Re: Question on maximizing Chase UR Points with CSP, CSR & Freedom


@CardGuy1 wrote:

@f4phantom2500 wrote:
Anymore, they have a one sapphire rule so you can't get both the CSR and CSP.

Wow this is probably the worst news. Thanks for letting me know though. The main reason i wanted both was so i could product change the CSP to another freedom card and really rack up the 5X points. 

 

@bourgogne - thanks a lot for that insight. No worries the more coffee you drink the more information I get haha. Sounds like you may have a business so you can get the cards like business blue plus. I don't have that ability so if you have another other card with that same type spending for individuals id love to hear it.

 

I was thinking about getting the Amex gold because the earning is so much better the plat but i use the travel/uber credits etc all the time. That was why i was thinking of starting to accumulate UR points so i can some better earning potential. I'm not really particular to an airline. All the big guys have pretty much the same accommodations and i have several major hubs in my vicinity.

 

In regards of no longer owning the CSP and CSR combo. Is there any benefit to having them both besides product change the CSP to another freedom card?


just finished my morning cup lol.  yeah have a biz but anyone can be a `consultant' and amex will give a card to nearly anyone with a pulse these days.  I am sure you have sold something on craigs or ebay, there, you have a business.  your income can be near nothing as you are starting out, no need to lie + they are going off your personal income on the app.  chase is a big harder esp as of late.  get an ein on the irs site - if they are still in business - and register an ein in your name only, first, middle and last.  keep the pdf handy, you might need it if you ever app with chase.  can't have both sapphires @ the same time anymore + no reason to

Message 13 of 25
CardGuy1
Member

Re: Question on maximizing Chase UR Points with CSP, CSR & Freedom


@f4phantom2500 wrote:
Not really, the csp is csr lite. Especially since you can't get both sign up bonuses even if you could get approved for both cards. The potential upshot of having the CSP year 1 instead of the csr is that the annual fee is waived year one for the CSP, then you can upgrade it to the csr in year 2.

If the big draw for you was having 2 freedoms, again I'd suggest looking at the freedom unlimited or slate as you can PC either of those to a freedom after the first year just like the sapphire preferred.

Also, setting up a sole proprietorship that will allow you to get business cards cost me like $25 and just as many minutes at the city's offices. I actually went to the chase branch on the way home after and applied for the ink preferred, for which I was approved with a few days wait (but it went smoothly, no real hangups just that it wasn't an instant approval - but I can say the same for my CSP)

Great information thank you! So would the smart play be to apply for CSP (i believe the SO bonus is the same 50K for both right now?) have the first year fee waived then upgrade to CSR after the first year? I honestly thought about opening a business for myself but the thought of complicating my return (i do it myself) sounded annoying lol. I know its lazy but just being honest. But it sounds like I could gain a lot of access to good cards doing this. I see that you have both amex plat and amex gold. I know the earning potential is better with the gold but i was thinking rather then get that i should branch out into UR rather then getting two pretty high annual fee cards on one rewards platform. I like the perks on the amex plat so i definitely use them enough to get my annual fee down a few hundred dollars any given year because of travel, uber etc. But not sure if it will be worth it to put all the money i spend on the plat and get the gold and spend on that and just sock drawer the plat. What are you thoughts on that as well?

 

@NRB525 - Yeah it sounds like doing both CSP and CSR even when they were offered was a bad idea. As of right now i have around 250K MR points. You're correct, i do not have Amex gold (just platinum).  As i said above regarding the amex plat and gold, I know the earning potential is better with the gold but i was thinking rather then get that i should branch out into UR rather then getting two pretty high annual fee cards on one rewards platform. Any advice on what to do there as well?

 

@bourgogne - yeah the more people here say that might be a good idea to get myself structured as a business. Just trying to weigh the benefits versus the extra work ill have to do during tax season haha.

Message 14 of 25
f4phantom2500
Established Contributor

Re: Question on maximizing Chase UR Points with CSP, CSR & Freedom

Actually man my business doesn't really make any money so taxes are pretty easy lol. You don't have to align your spending on business credit cards with your taxes, if that's what you're thinking.

As for CSP for csr in year 1, some people find it worthwhile to get the csr in year 1 (basically it has to offset an additional $95). But since you already have the Amex Platinum, you're already getting some of the features the csr has over the CSP. So you need to see if its worth it for the rest of the unique perks to the csr (which is pretty much the travel insurance). Either way, CSP or CSR in year 1, isn't a bad move, but csp year 1 will save you the annual fee.

The Amex gold is a good card, but I'm still debating whether or not I'll keep it long term. It really depends on how a certain things works out (pm me if you want more info about that). I have several 5% cash back cards and I end up getting restaurant and grocery covered on those cards a lot of the time, so for me using the Amex gold for its 4x categories has a higher opportunity cost than if I did not have those 5% cards.

All I can say about opening a business to get the blue business plus and ink preferred (product changed to ink cash after year 1 [at the time the ink cash only had a $300 SUB instead of the current $500 SUB, but the ink preferred 80k sub is still better]) is that I don't regret it and I'm glad I got 2 of the best point earning cards between the UR and MR systems - both with no annual fee - out of it. Without them, I'd have CSP/Freedom/Freedom Unlimited/Amex Plat/Amex Gold. Not bad but...that ink cash really bolsters UR while the BBP really boosters MR. In fact if you have the platinum and BBP, that's a solid setup. The gold is much less "necessary" in that case.
Chase UR: Amex MR:Citi TY:
Cash back:Travel:
Debit: + DCU savings acct for 5.12% APY for $1k
Message 15 of 25
CardGuy1
Member

Re: Question on maximizing Chase UR Points with CSP, CSR & Freedom


@f4phantom2500 wrote:
Actually man my business doesn't really make any money so taxes are pretty easy lol. You don't have to align your spending on business credit cards with your taxes, if that's what you're thinking.

As for CSP for csr in year 1, some people find it worthwhile to get the csr in year 1 (basically it has to offset an additional $95). But since you already have the Amex Platinum, you're already getting some of the features the csr has over the CSP. So you need to see if its worth it for the rest of the unique perks to the csr (which is pretty much the travel insurance). Either way, CSP or CSR in year 1, isn't a bad move, but csp year 1 will save you the annual fee.

The Amex gold is a good card, but I'm still debating whether or not I'll keep it long term. It really depends on how a certain things works out (pm me if you want more info about that). I have several 5% cash back cards and I end up getting restaurant and grocery covered on those cards a lot of the time, so for me using the Amex gold for its 4x categories has a higher opportunity cost than if I did not have those 5% cards.

All I can say about opening a business to get the blue business plus and ink preferred (product changed to ink cash after year 1 [at the time the ink cash only had a $300 SUB instead of the current $500 SUB, but the ink preferred 80k sub is still better]) is that I don't regret it and I'm glad I got 2 of the best point earning cards between the UR and MR systems - both with no annual fee - out of it. Without them, I'd have CSP/Freedom/Freedom Unlimited/Amex Plat/Amex Gold. Not bad but...that ink cash really bolsters UR while the BBP really boosters MR. In fact if you have the platinum and BBP, that's a solid setup. The gold is much less "necessary" in that case.

Correct me if i'm wrong but the only additional forms you would need to file as a Sole proprietor would be the schedule C correct? I had a partnership a while back which required 1065, K1 etc which was a large pain in the butt to file since it took a couple years before I got around to fully dissolving the partnership. If you just have to add the schedule C with a bunch of zeros on it that might be something I can work with. I assume all you would have to do is spend as you normally would on these business cards and just not claim any of them as "expenses" for the business on the schedule C?

 

I have to think about he CSR vs CSP this year because you're right. I think all the added benefits you don't get on the CSP I have on the Amex Plat (plat also has the travel insurance right?). The only thing at this point that might make me go with CSR in year one is the additional 300 travel credit because i know I'm traveling this year (at least twice domestic and at least one two week Euro trip) and that extra 300 in baggage/inflight/taxi etc credit could come in handy in addition to the $200 credit for Amex Plat.

 

We need to discuss Amex gold, i just pulled up the link and I'm SHOCKED! I knew the redid the earning but 4X with no limit?! Wow. Based on the looks of your cards it sounds like our rewards goals are similar so i would love to hear your perspective as someone who has both cards and also some cards on the UR platform. I will PM you.

 

I just pulled up the link to the BBP, can you tell me why you consider that one of the best MR earning cards you have? All the current Amex link shows is that its 2X on common business purchases with no annual fee. I definitely see the benefit to Ink Business Cash. That's very nice 5X spend in categories (does this rotate or are these same categories every year?) and the actual cash back on gas/food is a practical category that everyone spends in.

Message 16 of 25
FortifiedHM
Valued Contributor

Re: Question on maximizing Chase UR Points with CSP, CSR & Freedom

Amex card doesn't carry trip delay or cancellation insurance.

 

Everybody has different spending each year, you really should try this out yourself https://www.thepointcalculator.com/Credit-Card-Comparison-Tool

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Message 17 of 25
CardGuy1
Member

Re: Question on maximizing Chase UR Points with CSP, CSR & Freedom


@FortifiedHM wrote:

Amex card doesn't carry trip delay or cancellation insurance.

 

Everybody has different spending each year, you really should try this out yourself https://www.thepointcalculator.com/Credit-Card-Comparison-Tool


Thanks for providing the link. You're right if you mean as somthing that comes standard on the card. But you can purchase insrance from amex for trips for very reasonable costs (I did this when I traveled Europe last year). This comes standard on the CSR as part of the AF?

Message 18 of 25
FortifiedHM
Valued Contributor

Re: Question on maximizing Chase UR Points with CSP, CSR & Freedom

yes, both CSR and CSP (and prestige, premier) carry trip delay adn cancellation insurance without extra cost.

ᑭ⍶ndeᲠi८ ѠαԼԼεէ : ᙪ൦ſΛ ८☕ Λlti-ၺ ✈☕թroթⅇl
⛪✈☕⸿ⵢᖇ ⍟Ԑժᑭ ⍟८ſ ┊Ҩⵢ ☏८ſⴑ ⛽ෲթƧ/βiz ⛽iէ | ८✙ ┊❡olδ┊ↇᏨ ☕▲B ⍟Ⲙilⅇⴑթ ⛪
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PⵢA: Wear a respirator (Π95, Кп95, ҞҒ94), period.
Message 19 of 25
jdbkiang
Established Contributor

Re: Question on maximizing Chase UR Points with CSP, CSR & Freedom

The rather comprehensive trip delay/cancellation insurance, along with the primary rental coverage, are the main reasons I even keep the CSR anymore. After the TC, I'm basically paying $150 for insurance, since I have the Hilton Aspire, and I have other cards for most travel/dining bonuses. 

 

I have considered using the Premier for travel insurance, but their insurance doesn't seem as comprehensive as the CSR, and there's also no primary rental coverage. I also considered downgrading to the CSP or simply using my CIP, but the trip delay (12 hours vs 6 hours) is worse. 






[2/2019]
Message 20 of 25
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