Considering the Chase Sapphire Preferred, in need of advice

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southerndude
 
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Considering the Chase Sapphire Preferred, in need of advice

Postby southerndude » Sat Mar 15, 2014 10:06 am

I am looking to get a new credit card and was hoping to get some advice on the forums. As of right now I have a Amex Blue Cash Preferred (for about a year) and a Discover card (for about 3 years). I am looking into the Chase Sapphire Preferred so that I can have a card that is either a Visa or MasterCard, and that would help me get some travel points. Right now my Fico score fluctuates around the 775 range. The reason I am posting to the forum is just to see if the Chase Sapphire Preferred is a card most people would recommend or if I should consider other cards that earn travel reward points. Also with my credit score and the two cards I already have does it seem likely I would be approved for the card? Thanks for any advice.


linuxmachine
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Postby linuxmachine » Sat Mar 15, 2014 2:57 pm

Looks like you have cash back cards. Are you looking for points going forward or stick with fixed value cash back? Sapphires not that great if you don't plan on points transfer to airline or hotel, and it doesn't accrue points as well as the freedom card unless you travel A. LOT. the Barclaycard can be a nice option if you want simple, as it gets you 2.2cents per dollar spent on the card.

If you have an airline or hotel you are loyal to, you could consider a co-branded card. Some airline cards give you status and perks. Thesme with a hotel rewards card, which gets you discounts or free nights. Sometimes this makes more sense that getting a card that accrues flexible points since you already know which businesses you are going to work with.

lexrj
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Postby lexrj » Sat Mar 15, 2014 7:40 pm

linuxmachine wrote:Looks like you have cash back cards. Are you looking for points going forward or stick with fixed value cash back? Sapphires not that great if you don't plan on points transfer to airline or hotel, and it doesn't accrue points as well as the freedom card unless you travel A. LOT. the Barclaycard can be a nice option if you want simple, as it gets you 2.2cents per dollar spent on the card.

If you have an airline or hotel you are loyal to, you could consider a co-branded card. Some airline cards give you status and perks. Thesme with a hotel rewards card, which gets you discounts or free nights. Sometimes this makes more sense that getting a card that accrues flexible points since you already know which businesses you are going to work with.


--------------------------
+1
---------------------------------------
Current in my Wallet
Amex BCP - 25K (02/12)
Barclaycard Arrival WMC - 15K (10/13)

Future
US Bank Cash +

Socks drawer
Crap One Quicksilver - 1.7K (04/11)
CSP - 15K (03/13)

Scores
FICO EX 772 / TU 765 / EQ 762 - (09/14)
AAoA 2.1

whit
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Postby whit » Sat Mar 15, 2014 8:31 pm

Remind me again, does Barclay give dividend year ends? Was it 10%?

linuxmachine
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Postby linuxmachine » Sat Mar 15, 2014 8:44 pm

whit wrote:Remind me again, does Barclay give dividend year ends? Was it 10%?


You get 10% of your miles back on redemption. I don't think there is any dividend. Perhaps you are thinking of Chase?

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djrez4
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Postby djrez4 » Sat Mar 15, 2014 9:02 pm

lexrj wrote:--------------------------
+1


Goddamitsomuch.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

whit
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Postby whit » Sat Mar 15, 2014 10:15 pm

linuxmachine wrote:You get 10% of your miles back on redemption. I don't think there is any dividend. Perhaps you are thinking of Chase?


If you get 10% back with your travel redemption, that's good

But with CSP you get 20% boost if you redeem with travel

7% dividend regardless

I was just wondering if they pay back dividend, I guess the biggest difference is they give 10% bonus -- so 44,000? In statement credit? (versus CSP 20%, because 40,000 points is really 50,000 when you redeem for travel)

But no dividend, but, 2% for everything? Versus 2% for spending on travel/dining and 1% everything else with CSP

linuxmachine
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Postby linuxmachine » Sat Mar 15, 2014 11:25 pm

whit wrote:If you get 10% back with your travel redemption, that's good

But with CSP you get 20% boost if you redeem with travel

7% dividend regardless

I was just wondering if they pay back dividend, I guess the biggest difference is they give 10% bonus -- so 44,000? In statement credit? (versus CSP 20%, because 40,000 points is really 50,000 when you redeem for travel)

But no dividend, but, 2% for everything? Versus 2% for spending on travel/dining and 1% everything else with CSP


$400 credit. You will get $40 when you redeem. But you probably meant to say that :-)

For sapphire... its better to use Freedom for all 1x transactions if you have checking account. 10% as opposed to 7% on sapphire.

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Postby MemberSince99 » Sun Mar 16, 2014 7:54 am

djrez4 wrote:Goddamitsomuch.



+2. And you forgot "Congrats" before that +1.

MemberSince99
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Postby MemberSince99 » Sun Mar 16, 2014 7:56 am

whit wrote:Remind me again, does Barclay give dividend year ends? Was it 10%?



No year end. You just get 10% extra miles back when you redeem for travel statement credits.


Oops Linux answered it already sorry I didn't see that before I typed.



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