Should I upgrade from CSP to CSR?

[Anonymous]

Hello everyone,

My CSP almost hits 1-year mark, I'm thinking about upgrading this card to the CSR, but I'm not sure if it is worth the extra annual fee. I travel for work around 4-5 times a year (reimbursed), each trip costs around $800 to $2000. I don't eat out that much anymore. Should I upgrade to CSR?

[imaximous]

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@Anonymous wrote:

Hello everyone,

My CSP almost hits 1-year mark, I'm thinking about upgrading this card to the CSR, but I'm not sure if it is worth the extra annual fee. I travel for work around 4-5 times a year (reimbursed), each trip costs around $800 to $2000. I don't eat out that much anymore. Should I upgrade to CSR?

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There's a big range in the spend per trip, but even if you take the lowest end at $800 x 5 = $4000 in travel. With CSP you get 8,000 points. With CSR, you'd get 12,000 points. The difference of 4,000 points is about $40ish. That reduces the AF difference to only $15. For $15, you get global entry, Priority Pass, and better earnings. If you take the high end of the your travel spending, then the CSR is more than paid for. 

You get nothing for the CSP's $95 AF. I'd say go for it if you qualify.

ETA: The CSR also has a higher value per point when redeeming for travel. 1.5 vs 1.25.

[Anonymous]

Thanks for your info. Even though my credit limit on CSP is only $9k5 right now, but I can move $500 from either my Freedom or IHG card to meet the requirements for upgrade.

[imaximous]

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@Anonymous wrote:

Thanks for your info. Even though my credit limit on CSP is only $9k5 right now, but I can move $500 from either my Freedom or IHG card to meet the requirements for upgrade.

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Yeah, I believe the minimum CL is $10k to qualify, but I'm not sure if they make exceptions.

You may also have to wait till your CSP is exactly 1 yr old or 1 yr and 1 day because of the higher annual fee. (CARD act). If you get charged the CSP fee, Chase will refund it.

[wasCB14]

On a long-term basis (not churning) CSP really only makes sense in a few cases where there are AUs. The spend threshold to justify CSR is certainly quite low.

[CreditUnionFan]

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There's a big range in the spend per trip, but even if you take the lowest end at $800 x 5 = $4000 in travel. With CSP you get 8,000 points. With CSR, you'd get 12,000 points. The difference of 4,000 points is about $40ish. That reduces the AF difference to only $15. For $15, you get global entry, Priority Pass, and better earnings. If you take the high end of the your travel spending, then the CSR is more than paid for. 

You get nothing for the CSP's $95 AF. I'd say go for it if you qualify.

ETA: The CSR also has a higher value per point when redeeming for travel. 1.5 vs 1.25.

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I'm confused by the rationale. The CSP offers primary auto rental insurance in North America, for one annual fee, and the benefit can be shared with AUs.  The CSR has a much higher AF of $450.  

I'm actually thinking of converting an old Chase Slate card to a CSP.  I have many new credit cards, so I cannot apply directly for the CSP or CSR.  Without the first year SUB, does the math still justify the $450 AF for the CSR versus $95 for CSP?

[wasCB14]

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@CreditUnionFan wrote:

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There's a big range in the spend per trip, but even if you take the lowest end at $800 x 5 = $4000 in travel. With CSP you get 8,000 points. With CSR, you'd get 12,000 points. The difference of 4,000 points is about $40ish. That reduces the AF difference to only $15. For $15, you get global entry, Priority Pass, and better earnings. If you take the high end of the your travel spending, then the CSR is more than paid for. 

You get nothing for the CSP's $95 AF. I'd say go for it if you qualify.

ETA: The CSR also has a higher value per point when redeeming for travel. 1.5 vs 1.25.

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I'm confused by the rationale. The CSP offers primary auto rental insurance in North America, for one annual fee, and the benefit can be shared with AUs.  The CSR has a much higher AF of $450.  

I'm actually thinking of converting an old Chase Slate card to a CSP.  I have many new credit cards, so I cannot apply directly for the CSP or CSR.  Without the first year SUB, does the math still justify the $450 AF for the CSR versus $95 for CSP?

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Don't forget the CSR has a $300 flexible travel credit.

There are no rewards on the $300, though, so the real net AF is more like $450 - $300 + ~$10 (for rewards you might have earned on a different card) = ~$160

And if someone can't use that credit, it would be pretty strange to want a CSR!

AUs are definitely a consideration, as is a waived first-year AF on CSP. But the difference between 2x and 3x adds up over several thousand in travel/dining spend, and CSR's protections are better.

[red259]

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@Anonymous wrote:

Hello everyone,

My CSP almost hits 1-year mark, I'm thinking about upgrading this card to the CSR, but I'm not sure if it is worth the extra annual fee. I travel for work around 4-5 times a year (reimbursed), each trip costs around $800 to $2000. I don't eat out that much anymore. Should I upgrade to CSR?

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The first real question is why did you need the CSP to begin with? If you are redeeming by transferring points to travel partners then you can take the next step in determing how much value the CSR adds. If you are using your points as cash back and not even as the travel redemption via the CSR then I see no real purpose in upgrading nor in having the CSP vs a non-AF cashback card like the freedom unlimited, with the exception of issues like AUs etc which I don't really deal with but could be a factor for some. 

Now if you do value the CSP beyond the SUB then I would look at if you have any use for the other benefits of the CSR such as increased points earning, airport lounge access, global entry etc. With the $300 travel credit and your travel schedule I would think the CSR could make sense for you. I was considering downgrading my CSR to the CSP, because I have an amex plat card for all the same perks and my restaurant spend all goes on the amex gold. The reason I decided against doing so is because I do not currently have another card that gives me a travel bonus points. Even though I only take two big trips a year and have maybe 1.5k transportation costs the rest of the year the amount of spend was worth it to offset the difference between the CSP and CSR's AF. Once I get the chase ink preffered (next summer when I go under 5/24) though I will be able to get bonus on travel and transfer to partners in which case I will no longer have a need for the CSR or CSP and will close it out.  

[CreditUnionFan]

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Once I get the chase ink preffered (next summer when I go under 5/24) though I will be able to get bonus on travel and transfer to partners in which case I will no longer have a need for the CSR or CSP and will close it out.  

Minor point in the fine print for business cards - the rental coverage on the business cards is only for rentals for business purposes.  This may or may not matter.  DP has the Chase Ink Preferred, so the CSR starts to lose its luster, and we could make do with the CSP for personal trips.

[red259]

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@CreditUnionFan wrote:

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Once I get the chase ink preffered (next summer when I go under 5/24) though I will be able to get bonus on travel and transfer to partners in which case I will no longer have a need for the CSR or CSP and will close it out.  

Minor point in the fine print for business cards - the rental coverage on the business cards is only for rentals for business purposes.  This may or may not matter.  DP has the Chase Ink Preferred, so the CSR starts to lose its luster, and we could make do with the CSP for personal trips.

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Not sure how they determine if you were making a rental for business or not. That being said its probably better for me to put rentals on my amex because chase will not provide CDW unless you pay the full amount of the rental with their card vs amex that will cover rentals with points if you used their card to earn the points on your paid rentals.