It's about the 1-year anniversary of the 100k point SUB so I'd imagine a lot of people are in the same boat.
For:
- Just farming the SUB was my original intention.
- Nerfs to the 1.25x portal bonus, Hyatt takes a slight deval, then I swore of United as a travel partner so that's no longer appealing.
- I'm trying to shift to cash back due to LCOL and 5/24 status. Hard to reasonably accrue a travelable amount of points with just spend.
- Using as cash back, 3.3% Dining and 2.2% Travel are more than covered elsewhere in my portfolio.
Against:
- I still have a cache of about 100k points I can probably get a few nights in a Hyatt out of, but don't have any immediate travel plans.
- I can make good use of the $10 monthly Doordash credit with a convenience store pickup which mitigates the AF.
- I do have an OG Freedom and Chase Ink Cash as well so I'm losing synergy.
- I don't see any PC opportunities that make sense in my setup so may just end up closing all together? CFU would be sock-drawerd and I never hit my OG Freedom limit. Change to CFF due to the random quarter I can get the 7% Dining and merchant offers?
Anything I'm not factoring in here?
1-year Anniversary of the CSP 100k SUB. Convince me to keep my Sapphire Preferred.
byu/Cyberhwk inCreditCards
Posted by Cyberhwk
13 Comments
You’re pretty much spot on with your analysis – if you’re shifting to cash back and don’t have travel plans the card doesn’t make much sense anymore
The DoorDash credit is nice but not really worth keeping a $95 AF card for, especially when you can get better rates elsewhere. Maybe burn through those 100k points on a nice Hyatt redemption first then downgrade to CFF? The quarterly categories might actually be useful since you mentioned not hitting your OG Freedom limit anyway
You can’t PC to CFF because it’s a mastercard and csp is a visa youll have to product change to the OG Freedom but it doesn’t include the bonus on drugstore and restaurant just the rotating category
Can’t do it. There’s no reason to keep that card. Chase is a dying CC brand
If you need convincing, you shouldn’t keep it.
CSP is generally a horrible card beyond first year. Downgrade to OG freedom.
$45 effective AF (just remember to use the hotel credit) is worth it to me as a doorway to transfer partners but that’s just me. If you’re willing to work for that convenience store cash then it’s a -$70 AF.
I have many more points and travel/stay at Hyatt a few times a year at least. It’s the only AF card I’m willing to take a hit on because the value is in the transfers for me.
I’m about to hit my 1-year anniversary next month and did debate this myself a little. My main argument for keeping the card is transfer partners and travel redemptions.
I’ve transferred points at least three times since opening the card. Plus I did make a small portal booking. I got at minimum 1.25 CPP each time but my best redemption made those points worth nearly 4 CPP.
Long answer, even if you don’t have a specific trip/redemption in mind right now, if you feel like you will take a vacation in the next 12 months and you’re sitting on 100K points, it may be worth eating $45 for the potential return.
Because I know I will go on some sort of trip next year, I am going to eat the AF for another year. When I start to get low on Chase points, then this card will start being in serious jeopardy because I naturally spend very little on it
For me it’s just an effective 45 buck annual fee cause I find use in the 95 minus 50 hotel credit great. I can understand that if you absolutely have no use for a hotel ever then it’s useless but I’ve found at least one use for it per year for a one night stay somewhere.
I also love the Primary Collision Coverage.
And for the equiv of 45 bucks you can extend your decision on where to transfer your points for a whole year while keeping synergy with other Chase cards you have.
Smart use of select Chase offers will also help you break even if it really matters to you.
Not the point of your post but technically the way that the anniversary points work, you are getting 3.1 dining and 2.1 travel.
Anyway I’m in a similar boat as you but keeping mine at least until the complimentary dash pass runs out.
I never used doordash for my p1p2 setup. Totally skipped my brain.
I have over 120k in each CSP. I too have no use of them and have to use it before I downgrade. It sucks that chase doesn’t allow you to transfer if you have $0AF.
I too dont know if I should keep it going or just transfer to a random partner and downgrade/close.
Cash those points out and buy some s and p 500.
Note that the Doordash credit just got effectively nerfed in that most stores now have a $20 pickup minimum. So it’s still good if you were going to be doing doordash pickup anyway, but no longer lets you get anything for free if you wouldn’t be otherwise using doordash.
I’m in a similar boat, except I’ve churned chase maybe a little harder than you. I have 110k United from a United business, an Aeroplan card with almost 400k points from a massive UR transfer on a bonus, so I can pay myself back at like 1.67cpp for any travel with that.
I think I’m gonna take a 7/24 swing at a United explorer then downgrade it. I don’t see hyatt transfer outperforming my Aeroplan pay yourself back. I can always send another chase card back up to a CSP for my honeymoon when that happens if needed.
Primary cdw isn’t loss for me, since I only carry liability on my cars.
I was planning to go hard on Citi, but with the nerf of iprefer and choice, I don’t care enough about AA miles alone. I think I’m just gonna run Cashback mostly, with Wells fargo cards and a BBP accruing points at a slower pace. I’ll just run through amex if I need points and take 5% Cashback where I can.