Chase is offering
80,000 Bonus Points ($1,000 towards travel) w/
$4,000 spent on purchases in the first 3 months of account opening for the Chase Sapphire Preferred® Card. Annual fee is $95. Thanks Cappy123
Card Details:
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
- 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Earn 5X points on Lyft rides through March 2022. That's 3X points in addition to the 2X points you already earn on travel.
Original Post
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Edited November 9, 2020
at 11:50 AM
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Chase is offering 80,000 Bonus Points ($1,000 towards travel) w/ $4,000 spent on purchases in the first 3 months of account opening for the Chase Sapphire Preferred® Card. Annual fee is $95.
Card Details:
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For example, if you met the minimum spend for the sign up bonus in the first month the card was opened, the statement closing date was probably October or November 2016. If you met the minimum spend in the 3rd month that the card was opened, then the bonus may have been awarded in January or even February - again, depends on the statement closing date. You can check your first few statements in that account to know for sure.
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a) Can you downgrade from CSP to Flex after just 3 months and get a pro rated annual fee refund? Or, does Chase not allow downgrades for 12 months?
b) Can you combine husband and wife Ultimate Rewards points?
Which is where the value of the points really goes up a lot. If that wasn't possible I'd likely not hold most of the chase cards I hold now.
Only paid annual fee chase cards allow point transfers.
(and generally for those who travel the CSR beats the CSP.... other than having a better signup bonus there's really no reason at all to own a CSP)
By the way, how did Chase know you defaulted given that it was over 7 years ago. Shouldn't that have been wiped clean from your credit report? Unless, you defaulted on a Chase loan/credit card and its in their system.
If I were you, with an 800 score, I could easily convince the folk at reconsideration. Be confident, act like you couldn't care a FCUK about whether you got it or not. Don't beg and don't plead. Just make your case.
Do note that the minimum credit line on the CSP is $5K. How much do you have now and how many credit cards do you have? if others have lent to you, perhaps it will give Chase more confidence. Do get your free credit report online and be fully familiar with it (e.g., Credit Karma). Put yourself in the credit officers shoes. What questions would you likely have for someone with a credit report of yours, and then prepare answers for that.
Good luck and keep us posted!
Tips for Reconsideration:
https://www.doctorofcre
Reconsideration Number
https://www.doctorofcre
After two weeks if this is still up, apply for this. Get the points.
Month later do the product change back to CSR? Pay the fee?
OR keep the CSR, get $300 CR (Not sure when $300 will open up) for next year. If you cancel CSR do they take the $300 and pro rate the annual fee? Not sure how these work.
Can I keep my points earned on this card?
After two weeks if this is still up, apply for this. Get the points.
Month later do the product change back to CSR? Pay the fee?
OR keep the CSR, get $300 CR (Not sure when $300 will open up) for next year. If you cancel CSR do they take the $300 and pro rate the annual fee? Not sure how these work.
Can I keep my points earned on this card?
2. The timing of the $300 credit depends on when you opened the CSR - early cardholders have their credit refreshed by calendar year - after your December statement is generated. People who got their cards later have their credit refresh at their card anniversary. Chase does not have a history of clawing back the $300 credit for people who cancel or downgrade their cards. Downgrades = pro-rated annual fee refund, Cancellations = no annual fee refund unless you cancel within 30 days of having gotten the card statement with the fee on it.
3. If you downgrade the card, yes, the points will remain on your card/account. If you cancel, no, but if you have another Chase UR-earning card, you can transfer the points to that card. Unfortunately, Chase doesn't pool all of the UR points earned by multiple cards like Amex does with MR points.
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Which is where the value of the points really goes up a lot. If that wasn't possible I'd likely not hold most of the chase cards I hold now.
Only paid annual fee chase cards allow point transfers.
(and generally for those who travel the CSR beats the CSP.... other than having a better signup bonus there's really no reason at all to own a CSP)
Can you downgrade from CSP to Flex after just 3 months and get a pro rated annual fee refund? Or, does Chase not allow downgrades for 12 months?
of course im sure she will get rejected since she cant handle even a $500 gap store card haha.
You're not understanding what is being discussed.
We are talking about transferring your poiints from chase to an airline or hotel program- which is how you get much higher value out of the points.
Nope- see above- that's not what's being discussed.
You can't transfer to travel partners unless you have a paid chase card.
That's why the flex adding categories doesn't eliminate the need to hold a CSP or CSR (or the business equivalent) if you are wanting to maximize value of points for travel.
Can you downgrade from CSP to Flex after just 3 months and get a pro rated annual fee refund? Or, does Chase not allow downgrades for 12 months?
Chase generally requires you to hold a card for 12 months before they will downgrade you (though I've not personally tried it recently)
We are talking about transferring your poiints from chase to an airline or hotel program- which is how you get much higher value out of the points.
Nope- see above- that's not what's being discussed.
You can't transfer to travel partners unless you have a paid chase card.
That's why the flex adding categories doesn't eliminate the need to hold a CSP or CSR (or the business equivalent) if you are wanting to maximize value of points for travel.
Also, award flights tend to be hard to grab, plus taxes make them kinda useless. So your $1000 flight that costs 60k points ends up costing you $380 in taxes. In the end, it seems like the 25% redemption bonus through the Chase portal gives a person nearly the best deal, with the most flexibility.
Am I wrong?
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of course im sure she will get rejected since she cant handle even a $500 gap store card haha.