Questions on Freedom, Sapphire Preferred, and Point Transfers

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agp
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Questions on Freedom, Sapphire Preferred, and Point Transfers

Postby agp » Thu May 17, 2012 6:56 am

Good morning all

I'm thinking about getting a Sapphire Preferred, which would be my first travel credit card but I have some questions.

1. Is the 40,000 pts sign on bonus still in effect? Can points be redeemed for cash back on CSP? Can I withdraw $3000 on the card, deposit the cash in my checking account, and then pay it off, would that work?

2. How does transferring Ultimate Rewards points work? I have a Freedom right now and a bunch of points sitting on it. Can I transfer pts from CSP to Freedom and then redeem for cash? Can I use Freedom for the 5% bonus points, transfer to CSP, get the 7% dividend, then transfer back to Freedom and redeem for cash? (Of course none of this would be possible if points can't be transferred).

3. What's the auto pay system like on CSP? Is it the "Blueprint Full Pay" nonsense where it does not pay your monthly bill in full?

4. In the future if I no longer want my Freedom, can I combine the two card's credit limits? Or can I just ask Chase now to change my Freedom to a CSP? Will the sign on bonus still apply if they switch my card?

Any other things I should know before applying? Any input is welcome. Thanks!

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred


agp
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Postby agp » Thu May 17, 2012 8:00 am

5. CSP vs. Amex Starwood Preferred - which is better?

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

Crashem
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Postby Crashem » Thu May 17, 2012 11:45 am

A lot of times, cash advances do not count towards spend for bonus. Need to read terms and conditions to see. Also, cash advances usually have no grace period (ie you start interest right away) and there is usually a cash advance fee. So it is a bad idea usually unless you don't think you can get to 3k through purchases. And last I checked the 40k offer was still around.

I believe your UR accounts will be linked on both cards so no need to transfer. The 7% dividend is paid once a year and will just look at your Sapphire purchases so that transfer example doesn't work.

I have heard of people moving balances from one card to another. I don't think you are eligible for bonus if you just switch card from freedom to sapphire preferred.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

Crashem
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Postby Crashem » Thu May 17, 2012 11:48 am

agp wrote:5. CSP vs. Amex Starwood Preferred - which is better?


Totally different. CSP gives 2 points for restaurant and travel. Starwood is 1 point the entire time.

Starwood points are great as basically good for hotels and can be transferred to almost any airline.

CSP gives UR points which are more similar to Amex MR points. You can do more things with UR points but less airlines that you can transfer points into miles (although more hotels).

Comparing CSP to AMEX gold or plat makes more sense. Comparing AMEX Starwood to Chase Hyatt or some other hotel or mileage card makes more sense.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

agp
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Postby agp » Thu May 17, 2012 2:26 pm

Still interested in the autopay system for the CSP. Is it the same as Freedom, where the Blueprint "Full" Pay is designed to trick you? Or is there a legitimate autopay system that will automatically pay 100% of the statement balance?

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

MikeBones
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Postby MikeBones » Thu May 17, 2012 8:10 pm

Few things.

You can redeem points right for cash through the Sapphire Preferred UR page.

The Blueprint "Full" pay is rarely my full balance, probably because it cannot categorize all the transactions and the uncategorized ones aren't used in their equation.

You will have separate point balances for your different cards but the points can be combined onto one card at any time. This is extremely awesome for me, I can transfer my Ink Cash points to my Sapphire or Freedom card. Talk about a bonus...

'Cash like transactions' (I think that's what they call them) don't give you points or count towards your spending for the promotion. I have found though you can send a close relative, or a friend that you trust, money through PayPal. If you do this, be sure to mark it as a purchase of services or goods or anything but a cash advance. This transaction WILL count towards your dollar requirement and get you points. Be wary though only do this if you need to, they charge a 3% fee on all transactions.

I initially planned on switching out of the Preferred after the year, so far I'm pretty satisfied though. I don't want to have to get the plastic card either!

Best of luck.
Chase Sapphire Preferred - 7k CL
Chase Freedom Visa Signature - 5k CL
PenFed Plat Rewards - 1.25k CL
PenFed Cash - 1.25k CL

Money card
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Postby Money card » Sat May 19, 2012 11:23 pm

agp wrote:5. CSP vs. Amex Starwood Preferred - which is better?


if you travel on business and stay a lot at Sheraton'sor any Starwood hotels then the Starwood Preferred is better.

but then you would have to consider will your side be paying the restaurant bill most of the time, say about 80% or more, will you be traveling a lot by plane, renting cars etc I guess it all depends.



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