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PSA: Chase Sapphire Reserve 50K bonus points w/ Private Client *YMMV*

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Highly YMMV and restriction, but good information for someone not aware of this offer. Chase is offering 50K UR points for upgrading to Chase Private Client.

1. Upgrade to Chase Private Client by 12/2/2017
UPGRADE
to a Chase Private Client Checking account by meeting with a Private Client Banker with this email by December 2, 2017

2. Have over $100,000 in assets.
BEGIN
your banking relationship with a deposit of at least $100,000 in new money to your upgraded checking account within 10 business days, and maintain at least a $100,000 balance for 90 days
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Created 10-03-2017 at 07:53 AM by devilZ
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Joined Jan 2008
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#2
lol $100k, how cute. You need more like $250k
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#3
Quote from Eagles89
:
lol $100k, how cute. You need more like $250k
No, he's right. There's a targeted offer out for 50000 ultimate rewards points by depositing 100K. See Doctor of Credit. He wrote about this yesterday.
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Hops Triathlon - Gold
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#4
correct, it's really 100k, confirmed by CPC rep. Shame as I just upgraded a month or 2 ago. Gonna see if they can retro.
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#5
Lol...really, deposit 100K and do nothing, and get $500 (50K points worth) !! what an offer...any decent investment with that kind of money will fetch you a lot lot more than $500...
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#6
Quote from tajmahal
:
Lol...really, deposit 100K and do nothing, and get $500 (50K points worth) !! what an offer...any decent investment with that kind of money will fetch you a lot lot more than $500...
Heard that 100x broken record. But what's the *any decent investment* for October 3rd, 2017 fortune teller market guru?

100k really ain't much, zero risk & they give you an unlimited use culture card for free museum(s) entry; you're discounting that. SAD.

This deal is hot Taj Ma Buffet.
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Last edited by JuicyIPA October 3, 2017 at 08:20 AM.
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#7
Quote from Parachute07
:
No, he's right. There's a targeted offer out for 50000 ultimate rewards points by depositing 100K. See Doctor of Credit. He wrote about this yesterday.
Quote from JuicyIPA
:
100k really ain't much, zero risk & they give you an unlimited use culture card for free museum(s) entry; you're discounting that. SAD.

I just read my email. The 50k bonus points are taxed, so not really worth tying up $100k.
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Hops Triathlon - Gold
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#8
Quote from Eagles89
:
I just read my email. The 50k bonus points are taxed, so not really worth tying up $100k.
taxed at $5-10. Know your CPC upgrade, I do. You're just full of bad info today, sir.
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Original Poster
#9
Its funny to see people quoting investment returns and etc...I understand all that.

This is a good use case for gettking 50K UR points for the emergency funds that are sitting in a saving account doing nothing.
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#10
Quote from devilZ
:
Its funny to see people quoting investment returns and etc...I understand all that.

This is a good use case for gettking 50K UR points for the emergency funds that are sitting in a saving account doing nothing.
Exactly. but everyone knows a good investment yesterday! laugh out loud
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#11
Quote from JuicyIPA
:
taxed at $5-10.
Ask the people who opened Citi checking accounts for 25k points and got a 1099-INT for $625. You might actually lose money on this "deal" Applause
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#12
Quote from tajmahal
:
Lol...really, deposit 100K and do nothing, and get $500 (50K points worth) !! what an offer...any decent investment with that kind of money will fetch you a lot lot more than $500...
50000 Chase Ultimate Rewards points are worth a lot more than $500 if you transfer to travel partners. I can't imagine anyone with a Chase Sapphire Reserve (the apparent requirement to be targeted) is using them for $0.01 per point. These points are being used towards business and first class flights or five-star hotels. They're targeting Chase Sapphire Reserve holders because they know that those card holders may be enticed by the value of 50000 points. Those card holders may be able to use these points in a way that is worth thousands of dollars to the card holder but doesn't cost the bank thousands of dollars to offer. It's a win-win.
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#13
Quote from Eagles89
:
Ask the people who opened Citi checking accounts for 25k points and got a 1099-INT for $625. You might actually lose money on this "deal" Applause
Random, Citi sure as h*ll isn't Chase. Loooong time client. How about asking the CPC rep who confirms their might be a 1099 triggered on arbitrary value Culture Card in amount of $5? Hmmm...

Your time would be more constructive in sharing data points of Chase tagging UR bonuses to 1099 INT.
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#14
Quote from JuicyIPA
:
Random, Citi sure as h*ll isn't Chase. Loooong time client. How about asking the CPC rep who confirms their might be a 1099 triggered on arbitrary value Culture Card in amount of $5? Hmmm...

Your time would be more constructive in sharing data points of Chase tagging UR bonuses to 1099 INT.
This is what it says in my email:

"The Ultimate Rewards points transferred to you under the terms of the Program are considered interest received from Chase. Therefore we will send you, and file with the IRS, a Form 1099-INT (Interest Income) or a Form 1042-S (Foreign Person's U.S. Source Income Subject to Withholding) for the year in which the points are posted to your account. You are responsible for any tax liability related to participating in the program. Please consult your tax advisor if you have any questions about your personal tax situation."
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#15
Quote from Parachute07
:
50000 Chase Ultimate Rewards points are worth a lot more than $500 if you transfer to travel partners.
You realize you will be taxed at fair market value for the points? So be prepared to pay taxes on $1000-$1500 of extra income.
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