Chase Sapphire Preferred and Chase Freedom / AMEX Gold

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3 posts
CrypticTriX
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Chase Sapphire Preferred and Chase Freedom / AMEX Gold

Postby CrypticTriX » Thu Sep 11, 2014 6:25 pm

Hi,

I know there have been many posts about this subject but there have been recent changes to these cards and I want to try to get the most updated information.

I was wondering why someone would want to apply for an AMEX gold vs why would someone would to apply for the Chase Sapphire Preffered.

Would you apply for the Chase Sapphire Preferred first or the Freedom?

I currently have 3 credit cards.
AMEX Cash Preferred: $8200 Credit Limit ~ 9 - 10 months
Barclay's Card: $2000 Credit Limit ~ 1 years
Bank of America Cash Rewards ~ 2.5 years

I would a card with great travel benifits for I see myself traveling within a few months and a few months apart.

My spending habits are mostly department stores, restaurents, and transportation like gas, hotels, etc

I was wondering if I should get the AMEX Gold or the Chase Sapphire Preffered

If the Chase Sapphire Preffered, Should I get it before or after the Freedom card.

Thank you.


takeshi
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Postby takeshi » Fri Sep 12, 2014 9:49 am

CrypticTriX wrote:I was wondering why someone would want to apply for an AMEX gold vs why would someone would to apply for the Chase Sapphire Preffered.

As with any other card comparison it's a matter of what suits the individual best. UR points are more useful to me than MR points as I live in a United hub city and travel almost exclusively on United. You need to consider your specific needs/wants and see how potential cards suit you rather than relying on polling others. We're certainly happy to answer specific questions but you're basically asking us to do all your research for you without giving us the info we need to make the comparison for you.

Look at the cards, look at the rewards earn rates & compare to your spend. Look at redemptions. Look at the various other benefits.

CrypticTriX wrote:I know there have been many posts about this subject but there have been recent changes to these cards and I want to try to get the most updated information.

Chase and AmEx are very good at keeping their sites up to date.

CrypticTriX wrote:If the Chase Sapphire Preffered, Should I get it before or after the Freedom card.

Also a subjective matter. Which is more important to you?

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sicasun
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Postby sicasun » Fri Sep 12, 2014 12:15 pm

For the most recent info on either Chase and AMEX cards, they both keep their websites up to date as takeshi said, so be sure to check them out. If you can't find them directly, you can always google "[Insert card name] benefits" and research that way.

I'm biased towards Chase, so I'm not going to list differences between CSP and AMEX Gold. The CSP and Freedom combo is famous among credit forums though, since the UR points can be transferred from Freedom to CSP to maximize your use of points for travel.

As to whether you should get CSP or Freedom first, that really depends on you. You could try for CSP first if your credit is good, since Sapphire has higher requirements than Freedom. The HP will hit your credit but you can probably still get Freedom after that. If you have a comfortable relationship with Chase already, or if you need to travel soon are also reasons to get CSP first. Or if you need a card to use for everyday expenses right now, like gas, groceries, etc, Freedom may be better for now. 5% categories, etc.

Personally, seeing as how you're going to be traveling in a few months, I would recommend applying for CSP first, and work on getting those 40k UR points by spending $3k in the first three months. That way, you can book airfare/hotel or whatever through Chase and use those points. Honestly, you can probably apply for Freedom a few weeks or a month later, depending on how many inquires you have on file.

Chase Sapphire Preferred | 09/2014 | $10,300
Chase Sapphire | 05/2010 | $5,000
Chase Freedom | 01/2013 | $5,500
CapitalOne Quicksilver | 01/2013 | $2,500
American Express TrueEarnings | 08/2014 | $5,500
Victoria's Secret Angel Card | 04/2011 | $600

FICO | 09/2014 | Experian 738 | Equifax 706 | TransUnion 701



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