I am new! Doing my own experiment...

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KAK
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Location: Houston

I am new! Doing my own experiment...

Postby KAK » Thu Aug 23, 2012 8:25 pm

Hello all. I am a young entrepreneur from the Houston who has been accepted to both the Amex Green and Chase Sapphire Preferred recently.

So my experiment.... I am going to use both of these cards for a year. I am going to use them for daily expenses and look at the rewards program, features, customer service and upgrade one and downgrade the other.

So if the Amex wins I am going to get the Platinum. If the Sapphire wins I am going to get the Palladium.

The other card will get downgraded to something with a low or $0 annual fee.

So far:
Amex:
Charge card no limit
Good customer service
Wont get me in trouble

Sapphire Pref:
Good customer service
Visa Sig Concierge- Finding me a boat rental service in Galveston now!
Cool physical card
Great signup bonus that will buy me a new set of golf clubs

Let me know if yall have any questions along the way!


Crashem
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Location: San Francisco, CA

Postby Crashem » Fri Aug 24, 2012 1:17 am

How are you going to get palladium?
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

KAK
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Joined: Thu Aug 23, 2012 8:15 pm
Location: Houston

Postby KAK » Fri Aug 24, 2012 1:25 am

I will talk to my private banker. She said they would approve me but I hesitated to pay that larger annual fee so I went with CSP. Amex has always given me crap when I applied back in the day so I started small on the green card. First amex approval.

jlam572
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Location: Hawaii

Postby jlam572 » Fri Aug 24, 2012 2:57 am

I would think the centurion would be closer in comparison to the palladium. But good luck in your quest for either.
American Express Platinum
Chase Sapphire Preferred
Hawaiian Airlines BOH MC
USAA Amex
Capital One Visa Platinum
Citi Diamond Preferred MC

Rory
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Location: MA

Postby Rory » Fri Aug 24, 2012 6:24 am

The houston huh? smells fishy but I'll bite. Good luck with the palladium dude, you're gonna have to have all your assets tied up with JP morgan to even qualify, but hey who said one basket couldnt hold all the eggs?
Amex Zync - NPSL (Cleared up to 25k)
Amex BCE - 12000 limit
Amex BCP - 4200 limit
FIA Rewards Amex- 3500 limit
Chase Freedom - 2000 limit
Chase Slate - 2000 Limit
BoA Cash Rewards Privileges- 3000 limit
Barclaycard Rewards MC - 3000 limit
Discover IT- 3500 limit
Marriott PR- 5000 limit
21 years old with alot of life to spend ;)
Its not about the ending, its about the journey,
just as long as the ending is just as good :cool:

Crashem
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Location: San Francisco, CA

Postby Crashem » Fri Aug 24, 2012 7:38 am

Comparing csp to green is good comparison
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 » Fri Aug 24, 2012 7:45 am

The JPMorgan basket can certainly hold all your eggs, but don't be surprised if they lose some of your eggs in investments. Some things to consider though:

1. You cannot downgrade the Green to a no-fee version. You can do a product change to another charge card, but all charge cards have annual fees.

2. You cannot upgrade the CSP to Palladium.

KAK wrote:Let me know if yall have any questions along the way!


Let us know if you have any questions along the way :)

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

KAK
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Location: Houston

Postby KAK » Fri Aug 24, 2012 8:17 am

Didn't mean "the Houston". Sorry I technically live in The Woodlands and probably just mashed them both together.

If you can't upgrade or downgrade the card I will just change products. I really want AMEX to win because its a charge card, but it is already losing by a lot. I had to send address verification about 5 times via different methods before they finally got one an processed it.

I do have a private banker which means I qualify for Palladium, my banker said it is not really important what your credit score is to get their cards when you have Private Client (I have a 720 mostly because of short history, no negatives). I am not comfortable telling y'all what I have with Chase/JPMbut it is nowhere near 30 million (yet ;) ) I have the majority of my assets with an investment firm that has a great track record.

KAK
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Joined: Thu Aug 23, 2012 8:15 pm
Location: Houston

Postby KAK » Fri Aug 24, 2012 8:44 am

I have also thought about the simple upgrade to Gold Rewards Amex and a downgrade to regular Sapphire.

Crashem
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Location: San Francisco, CA

Postby Crashem » Fri Aug 24, 2012 9:06 am

Crashem wrote:Comparing csp to green is good comparison


I meant not good comparison.
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



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