Hi,
I have been debating closing my CSP recently. It’s not really an issue of affording the AF, I just don’t really feel like paying it honesty. Also not a huge fan of the point transfer partners. As I fly delta and most of my travel is airbnbs, or hiltons. I currently have the Amazon prime card, freedom unlimited, CSP, Amex platinum, gold, and the Apple Card. Should I keep the card open just for the available spending limit on my reports? It’s not my oldest card / account is about to be 1 year old.
Close Chase sapphire preferred?
byu/RydogElite inCreditCards
Posted by RydogElite
5 Comments
been thinking about this too with my own setup. if you’re not using the transfer partners and mainly doing delta + hilton, the CSP doesn’t really make sense to keep paying for
since it’s only one year old closing won’t hurt your credit history that much, and you already have good coverage with your other cards. the freedom unlimited gives you similar earning without the fee. your credit utilization might go up slightly but with all those other cards you should be fine on available credit
i’d probably downgrade it to regular freedom or freedom flex instead of closing completely though – keeps the account open but no annual fee
Downgrade to Freedom Flex and just use it for the Cellphone Protection. You can also use it for quarterly 5% cash back if you feeling spicy but dont pass up the free cell phone protection.
EDIT: I just noticed you have Amex Plat but this is till worth keeping since it no AF for similar phone protection
It’s important to never feel like you should keep a card if it’s not providing value unless (a) it’s no fee and (b) closing would meaningfully shorten your average age of credit. Here, it has a fee, but it could be product changed to a card that does not. Do any of Chase’s other options make sense for you? If not, then bail given you’ve only had it open for a year.
I actually just downgraded my CSP to the OG Freedom card today without any problems.
Downgrade the card to the OG freedom to keep the points or cash out the points for cash and close it.