Slate to CSP?

[xXIDaShizIXx]

Hello guys/gals,

I know it has been a while since I posted anything. I have a chase slate that I have not used (I have the Freedom Unlimited and Freedom) and need to know if I should product change it to a CSP for the maximum amount of rewards? I travel about once a year as far as flying. Everything else is covered via personal travel in my own vehicle or via rental car. However by doing the product change, I will not get the annual fee waived for the first year, nor will get the $50,000 bonus. Firstly, should I do this? Secondly, would this be better than the CSR, given my current situation? Thank you. 

[Anonymous]

No you shouldn't. If you're interested in rewards, you'll get way more by getting the signup bonus. This is a pure guess but the signup bonus will probably be worth 3 or 4 years worth or rewards without the bonus. Plus with your travel neither the CSP or CSR make much sense.

[xXIDaShizIXx]

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@Anonymous wrote:
No you shouldn't. If you're interested in rewards, you'll get way more by getting the signup bonus. This is a pure guess but the signup bonus will probably be worth 3 or 4 years worth or rewards without the bonus. Plus with your travel neither the CSP or CSR make much sense.

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I would have to disagree with the statement about travel not making sense as Chase says that travel is : 

“airlines, hotels, motels, timeshares, campgrounds, car rental agencies, cruise lines, travel agencies, discount travel sites, operators of passengers trains, buses, taxis, limos, ferrys, tolls, bridges, highways, and parking lots and garages.”

Meaning that, I would meet a lot of travel options, through rental agencies and hotel stays. I work for the government, so I get reimbursable travel, though not always through airfair.

[MrDisco99]

If you're over 5/24 or otherwise a fresh app is not an option, converting the Slate is not a terrible idea.  You'd go from earning no rewards to earning some and enabling access to the Chase travel portal and airline transfer partners.  Your Freedom cards will help speed up earnings by pooling points.

However, if you can, I'd strongly recommend waiting until you can fresh app for it rather than PC.  50K UR points is a lot to pass up, along with the waived AF for the first year.

As for CSP vs. CSR, that totally depends on how much you can charge every year in the travel category.  If you'd have no problem meeting the $300 reimbursable, then the CSR is probably the best option since the effective annual fee is $150 vs. $95 and you'd get so much more in rewards and perks.  If there's any chance you'd feel pressure to manufacture travel spend, though, you're probably better off with the CSP.  The travel category is pretty broad which makes the CSR pretty easy to justify if you live in a big city where you'd spend regularly on transit and tolls and such.  If you live in the suburbs or in the sticks, though, that may be more difficult.

I, personally, would probably never get a CSR because I can't justify paying $450 per year without knowing for sure that I'd easily get that $300 back.  I'd feel pressure to spend on travel, which means I might spend more than I would otherwise just to get the credit.  As with any rewards program, spending extra dollars to earn pennies defeats the purpose.

[EAJuggalo]

I'm keeping my CSP just for the rental car insurance coverage.  Only company I know of that offers primary coverage for no additional charge.  If Chase offers me a CSR I'll take it since I spend $500/yr on Hotels and toll roads, even when I'm not flying anywhere.

[K-in-Boston]

I agree with Mr. Disco. Although restaurants are also an important category as well, and that tends to be very broad like the travel category. Everything from the corner food truck to McDonalds to a fine dining establishment with a Michelin Star. 2 URs per $ on CSP for travel and restaurants vs 3 for CSR. Since you can only have one Sapphire product now and are ineligible for the bonus if you have had either in the past 2 years, it’s certainly an app worth doing if you can. I only fly once or twice per year, but I’m well-invested in travel cards.

[Anonymous]

I tend to agree with others.  Cold app for the CSP when you are eligible. Then you can ask them to transfer your Slate credit line to your new CSP, minus $500.  Slate is good for a one time BT and then it has no other benefit.  The 50,000 points offer  is worth a HP.

[Anonymous]

Yup, I'd apply if you are eligible.

CSR is probably better for many people even if sign up bonus is only 50K now:

1. If you travel at all (air, hotel, rental, parking, train, bus or ferry), you'll drain the $300 credit in no time, making it only $55 more than a CSP.

2. If you don't have another good restaurant card CSR can comfortably take that role (nowadays there're not many out there than can out done CSR in all 4 quarters of a year).

3. The 1.5X vs 1.25X multiplier does make a difference if you use your points that way (50K is $750 rather than$625).

4. Even if you only fly once or twice a year, there's still a good chance for you and guests to enjoy a lounge with the free PPS, which is digital now (unless you already have one?).

5. CSR has visa infinte rental car membership matching (national executive for as long as you have CSR) so a big plus if you rent but don't rent that much to be a high level member already.

[xXIDaShizIXx]

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@MrDisco99 wrote:

If you're over 5/24 or otherwise a fresh app is not an option, converting the Slate is not a terrible idea.  You'd go from earning no rewards to earning some and enabling access to the Chase travel portal and airline transfer partners.  Your Freedom cards will help speed up earnings by pooling points.

However, if you can, I'd strongly recommend waiting until you can fresh app for it rather than PC.  50K UR points is a lot to pass up, along with the waived AF for the first year.

As for CSP vs. CSR, that totally depends on how much you can charge every year in the travel category.  If you'd have no problem meeting the $300 reimbursable, then the CSR is probably the best option since the effective annual fee is $150 vs. $95 and you'd get so much more in rewards and perks.  If there's any chance you'd feel pressure to manufacture travel spend, though, you're probably better off with the CSP.  The travel category is pretty broad which makes the CSR pretty easy to justify if you live in a big city where you'd spend regularly on transit and tolls and such.  If you live in the suburbs or in the sticks, though, that may be more difficult.

I, personally, would probably never get a CSR because I can't justify paying $450 per year without knowing for sure that I'd easily get that $300 back.  I'd feel pressure to spend on travel, which means I might spend more than I would otherwise just to get the credit.  As with any rewards program, spending extra dollars to earn pennies defeats the purpose.

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I am over the 5/24. I think I will wait and cold app for the CSP, just because I'd rather have the bonus. I don't believe at this time, that I can justify the CSR, given how much the annual fee is and how most of my travel is structured. Given how little I fly, it appears the CSP would be the better option. 

[xXIDaShizIXx]

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@K-in-Boston wrote:
I agree with Mr. Disco. Although restaurants are also an important category as well, and that tends to be very broad like the travel category. Everything from the corner food truck to McDonalds to a fine dining establishment with a Michelin Star. 2 URs per $ on CSP for travel and restaurants vs 3 for CSR. Since you can only have one Sapphire product now and are ineligible for the bonus if you have had either in the past 2 years, it’s certainly an app worth doing if you can. I only fly once or twice per year, but I’m well-invested in travel cards.

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I think at this point I will wait and cold app for the CSP and move the Slate's line over, as it more matches my spending. I don't want to try to spend more just to make the rewards justifiable.