Credit card bonus - 1 week notice

[calmloki]

Chase Sapphire Reserve bonus is going from 100,000 points to 50,000 points on 1/12/17.

Card has a $450 annual fee offset by $300 travel credit - net is a minimum cash value of $850 for the first year - and that's if you have Chase mail you a check. I'll probably cancel just before a year has elapsed.

Airfare, hotel and car rentals purchased with points through the Chase site are 2/3 the cost of buying direct from the airline.

If you can get this card do it. The gal has taken advantage of the $300 travel credit and we just bought air, hotel and car from the Chase site for a fast trip up to Oregon - very easy and it works as advertised.

[Amethyst]

They are no longer offering this card on the Chase web site.

Oops - I'm wrong, you have to go to "travel" cards.

Anyway, I got the dreaded "we have to review your application a little longer." First time I've gotten anything other than instant approval. Maybe we have too many Chase cards already.

[exnavynuke]

Quote:

Originally Posted by Amethyst They are no longer offering this card on the Chase web site. Oops - I'm wrong, you have to go to "travel" cards. Anyway, I got the dreaded "we have to review your application a little longer." First time I've gotten anything other than instant approval. Maybe we have too many Chase cards already.

Chase is, in my experience, the stingiest company I've ever dealt with regarding credit card applications/requests for increases. With a 6-figure income and mortgage/rent expenses of under $500/month, I got a "we'll have to have someone look that over" when I asked for credit line increase, from the $4,500 they gave me initially on one of two cards that were initially assigned that limit (both had for at least a couple years prior to asking for the increase)... then it was like pulling teeth to get their specialist to approve me for a whopping $8k total limit on that card (after asking me if I wanted to reduce my other card's limit by $2k so they could get me a "round number of $10k limit" on the card I requested the increase on.

So they, after sending my request for special review, were generous enough to give a $3,500 increase, which was lower than the $5k that Sam's Club offered me (available immediately) if I wanted a card from them the same day.

The same day I asked NFCU for a $5k increase on my card I have with them and the automated system approved that increase immediately. I've taken a friends advice and am just going to ask for increases every 6 months since I realized my sub-$10k CC limits are really low and can be annoying if I want to purchase anything expensive (like pricey vacations etc).

[calmloki]

Psssh. If Chase bothers you y'all haven't experienced Citi in all its glory. Miserable*miserable.

I was going to wait a couple months so some major bills coincided with the $4000 in 3 months spend requirement, but am flying north from Saturday-Wednesday and can prepay an apartment complex water bill for 6 months and knock out most of that spend requirement. Little town can only do prepaid water bills with a card in person at the counter. Chase expedites this card via Fedex, so I am rolling the dice on getting it before we fly. Went in to a Chase branch this morning, applied and got my normal sent to review message - substantial rental and interest income combined with several addresses will do that. Bank employee is able to talk direct to the card people - was offered a week wait for reconsideration or moving some of my existing credit from two other Chase cards and instant approval. Chose that option, now we'll see if the card gets to my sweaty paws by Saturday.

[Amethyst]

The application didn't even ask for debt. All they asked for was our annual income. With credit ratings in the 820's, there is nothing "to look into further." I think their algorithms are mad at me because I recently canceled the regular Sapphire card.

Quote:

Originally Posted by exnavynuke Chase is, in my experience, the stingiest company I've ever dealt with regarding credit card applications/requests for increases. With a 6-figure income and mortgage/rent expenses of under $500/month, I got a "we'll have to have someone look that over" when I asked for credit line increase, from the $4,500 they gave me initially on one of two cards that were initially assigned that limit (both had for at least a couple years prior to asking for the increase)... then it was like pulling teeth to get their specialist to approve me for a whopping $8k total limit on that card (after asking me if I wanted to reduce my other card's limit by $2k so they could get me a "round number of $10k limit" on the card I requested the increase on. So they, after sending my request for special review, were generous enough to give a $3,500 increase, which was lower than the $5k that Sam's Club offered me (available immediately) if I wanted a card from them the same day. The same day I asked NFCU for a $5k increase on my card I have with them and the automated system approved that increase immediately. I've taken a friends advice and am just going to ask for increases every 6 months since I realized my sub-$10k CC limits are really low and can be annoying if I want to purchase anything expensive (like pricey vacations etc).

[kgtest]

Quote:

Originally Posted by Amethyst The application didn't even ask for debt. All they asked for was our annual income. With credit ratings in the 820's, there is nothing "to look into further." I think their algorithms are mad at me because I recently canceled the regular Sapphire card.

I think you are correct. It seems they might keep track of the last premium card cancelled and use that to determine future risks...

I've been denied after down-grading with the reason, too many other chase accounts.

[kgtest]

I missed my shot to upgrade to Delta Platinum, they were offering me 10,000 bonus miles. $450 annual fee but a free companion ticket and $350 travel credit...so it was really only the $100 annual fee that gets you 10,000 bonus miles and an annual companion ticket. Hope this comes around again. Timing with the companion certificate is critical.

[Amethyst]

Well, after fuming at the Algorithms for a while, I called and spoke to some humans and was approved. I will probably have to buy some airline tickets in the next few months, and spending $4K in 3 months is a snap for us...so, thanks for the tip, Calmloki!

[exnavynuke]

Quote:

Originally Posted by Amethyst The application didn't even ask for debt. All they asked for was our annual income. With credit ratings in the 820's, there is nothing "to look into further." I think their algorithms are mad at me because I recently canceled the regular Sapphire card.

For the increase they asked for annual income and monthly rent/mortgage payment. My credit rating is also in the 800's so you'd think there was "nothing to look into further", but I had to ask to speak to someone that day if I didn't want to wait for it to get farmed out. I wasn't in a hurry, but was kinda incredulous that I wasn't instantly approved for more so I had them put me through to one of the specialists or whatever they called them.

[Amethyst]

The rep could not even find my on-line application. The Algorithms must have been really angry and thrown it away!

The rep did not ask any questions at all except to verify my name and address.

Quote:

Originally Posted by exnavynuke For the increase they asked for annual income and monthly rent/mortgage payment. My credit rating is also in the 800's so you'd think there was "nothing to look into further", but I had to ask to speak to someone that day if I didn't want to wait for it to get farmed out. I wasn't in a hurry, but was kinda incredulous that I wasn't instantly approved for more so I had them put me through to one of the specialists or whatever they called them.

[manerac]

Does anyone know if the Sapphire Reserve bonus points can be transferred to Southwest Airlines towards a companion pass?

[SteveNU]

I picked up the card a while back and just got one for my wife this afternoon. We will use the $300 in travel credits on each card and also sign up for global entry that will get us the $100 credit each so not a bad deal. Plus we will have the 200,000+ points to use.

[2017ish]

Quote:

Originally Posted by manerac Does anyone know if the Sapphire Reserve bonus points can be transferred to Southwest Airlines towards a companion pass?

Yes. 10 Best Ways to Use 100,000 Ultimate Rewards Points

Click on Southwest in the table and it goes into fine detail in another post.

[ExFlyBoy5]

I got this card back in October and just booked a trip to Mexico with it. The fee was $450 but the net return has been $1350...and that makes me very happy. The $300 travel credit could be "hacked" in a way (was described by me and others in an earlier thread) that allows a $300 travel credit last year and then *another* $300 credit after the 1st of the year. So, we are taking a very nice 7 day trip that we will get a 78% discount on; thanks Chase!

As far as the "further review", this is pretty common with the Chase applications. I have understood that it is usually triggered by a possible 5/24 (5 or more accounts opened in 24 months...that is ANY credit card account, not just Chase). I had the same thing and but a quick phone call resolved it.

[ExFlyBoy5]

Quote:

Originally Posted by calmloki Airfare, hotel and car rentals purchased with points through the Chase site are 2/3 the cost of buying direct from the airline.

I have not seen this. The airfare I selected was the EXACT same cost through the rewards page as it was with the airline. Same with the resort. Can you illustrate a specific example?

[calmloki]

Quote:

Originally Posted by ExFlyBoy5 I have not seen this. The airfare I selected was the EXACT same cost through the rewards page as it was with the airline. Same with the resort. Can you illustrate a specific example?

The dollar amount is shown as the same - but if you look at the points required to make the purchase you will see a 1/3 savings.

Example: two RT PSP to PDX = $412.40 OR 27492 points
Points spent on travel are worth $0.015/point, points redeemed for cash are worth $0.01/point

[kaudrey]

I got this card in November. Thanks for the article on best ways to use the points! I already got the $300 travel credit due to travel over the holidays, and will plan some trip in the spring using the miles.....I will also cancel at around 11 months. In the meantime, I am using it for dining due to the 3X, and will transfer any remaining points somewhere at the end.

[ExFlyBoy5]

Quote:

Originally Posted by calmloki The dollar amount is shown as the same - but if you look at the points required to make the purchase you will see a 1/3 savings. Example: two RT PSP to PDX = $412.40 OR 27492 points Points spent on travel are worth $0.015/point, points redeemed for cash are worth $0.01/point

OK...I get what you were saying. The simple math I use is that my $1000 worth of points (100,000) is worth $1,500 (150,000) if redeemed for travel on the Chase UR site.

[Amethyst]

When I used regular Chase Sapphire points to buy a round-trip ticket last summner, the price through the Chase web site was higher, for the same flight, than through Travelocity. I think it was $208.00 versus $179.00.

Quote:

Originally Posted by ExFlyBoy5 OK...I get what you were saying. The simple math I use is that my $1000 worth of points (100,000) is worth $1,500 (150,000) if redeemed for travel on the Chase UR site.

[RunningBum]

I pulled the trigger on this today. 100K is a lot of points.


Question: If I want to use these points for a flight in summer of 2008, am I better off transferring them to an airline before a year is up so I can cancel the card and not pay a second year annual fee, or booking through Chase even if it means a second year of fees?


I probably could book my flight before the first year is up. Is it better to book points travel through Chase or the airlines in general?