Thinking of opening CSP, get 50k points, then closing?

[Anonymous]

Hello, I recently signed up for the CSP with the 50k points and have already met the $4k spend. I'm waiting for it to post to my account. I will probably keep the card as I can put a lot of my work expenses on it.

I was thinking of opening a CSP under my wife's name, getting the 50k points (I can prob hit the $4k spend legitimately in 1.5 months), transfer them to my UR account, and then closing her CSP account.

Is there any reason why I should keep the CSP open (or change to a regular Sapphire account, she already has a Freedom) if my role reason for opening it is to obtain and transfer the 50k UR points to my own account?

Thank you.

[Anonymous]

The risk is that Chase will classify you as a churner and make it hard to get other cards with them.   But the risk is small if you do it just once.   I wouldn't immediately close, wait until say 11 months, and then your wife can call and close before the AF, explaining that it doesn't meet her needs.   Closing just after getting the bonus short of shouts "Hey, I'm churning"

[Anonymous]

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@Anonymous wrote:

The risk is that Chase will classify you as a churner and make it hard to get other cards with them.   But the risk is small if you do it just once.   I wouldn't immediately close, wait until say 11 months, and then your wife can call and close before the AF, explaining that it doesn't meet her needs.   Closing just after getting the bonus short of shouts "Hey, I'm churning"

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Yes, it might... I suppose it doesn't hurt to leave the card open since the AF doesn't hit until after a year.

[colinstu]

Right now the first year AF is waived with this card. If you wanted to avoid the AF... could you close the card at 23 months of using it? Or does it have to be cancelled at 12 months?

[SMDLiquid]

Keep the card for 11 months then close it or downgrade it. 

[tntexans72]

Wait til the AF is due...call in to have them waived it, if they don't then close the account. I did that with my last CSP and I didn't have any problems opening more Chase accounts. 

[Anonymous]

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@colinstu wrote:
Right now the first year AF is waived with this card. If you wanted to avoid the AF... could you close the card at 23 months of using it? Or does it have to be cancelled at 12 months?

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The AF is charged after one year.   Most cards with AF charge it "in advance", if waived the same thing happens but one year later

[Anonymous]

Don't forget u can downgrade to the no AF chase sapphire. 

[Anonymous]

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@Anonymous wrote:

Don't forget u can downgrade to the no AF chase sapphire. 

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Is that Chase Card still available?

[OmarGB9]

I believe it's available to downgrade to, but you can't apply directly for it.