What card is best to open for $3800 Purchase?

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solomon
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What card is best to open for $3800 Purchase?

Postby solomon » Wed Dec 30, 2015 12:01 pm

Currently Chase Sapphire Preferred is offering 50,000 points with a $4000 purchase in 3 the first three months. Since this purchase is about 95% of the $4000 I have to buy within the first three months.

I already have 43000 points with Chase Freedom. I can merge my 50,000 with my 43,000.

My only concern is that the Chase Sapphire Card is rumored to suck now and is put in the sock drawer.

Are there better options?
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kdm31091
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Re: What card is best to open for $3800 Purchase?

Postby kdm31091 » Wed Dec 30, 2015 12:09 pm

Just like any other card, the value of the Sapphire is subjective and depends on your wants/needs.

Long term, paying the $95 AF if you don't travel much and will redeem for cash or gift cards, it's not worth it for 2% on a couple things and 1% otherwise.

However, people who travel frequently like to have both a Freedom and CSP since you can merge the points. But it still may not be worthwhile if you aren't going to transfer the points to travel partners (even booking directly with Chase isn't always the best deal).

Short answer: there are better cards to open for a large purchase and to keep long term unless you really plan on traveling. Keep in mind also there is no 0% period on the CSP. May not be a concern if you're going to pay it off immediately anyway, but something to be aware of. Sometimes the blogs hype CSP as if it makes sense for everyone and that's not the case.

solomon
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Re: What card is best to open for $3800 Purchase?

Postby solomon » Wed Dec 30, 2015 12:15 pm

kdm31091 wrote:Keep in mind also there is no 0% period on the CSP. May not be a concern if you're going to pay it off immediately anyway, but something to be aware of.


Yes, paying it off immediately.

The only thing that has me interested is the 50,000 point bonus. If I can merge that into points then can I just merge the 50,000 with my Freedom card and convert that into ($500) cash back?
MC Citi Dividends WE - CLI 4/31/16
V US Bank Cash+ - CLI 05/31/16
V US Bank Platinum - CLI 12/24/14
AXP Blue Cash Everyday - CLI 5/31/16
MC Sam's Club - 03/04/15
DFS It - CLI 05/31/16
V Chase Freedom - CLI 6/17/15
CSP - 06/02/16
C Slate - 06/02/16
BAC Cash Rewards - 10/7/16

kdm31091
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Re: What card is best to open for $3800 Purchase?

Postby kdm31091 » Wed Dec 30, 2015 12:38 pm

solomon wrote:
kdm31091 wrote:Keep in mind also there is no 0% period on the CSP. May not be a concern if you're going to pay it off immediately anyway, but something to be aware of.


Yes, paying it off immediately.

The only thing that has me interested is the 50,000 point bonus. If I can merge that into points then can I just merge the 50,000 with my Freedom card and convert that into ($500) cash back?


Yes, you can. UR points convert to cash at full value. So the bonus is $500 at the least. If that's all you are concerned about, I'd go ahead -- the bigger question is the long term value of the CSP for you.

Vermonster
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Re: What card is best to open for $3800 Purchase?

Postby Vermonster » Wed Dec 30, 2015 2:36 pm

There is no AF for the first year so it is totally worth it for the signup alone. You then have a solid 12 months to decide on how useful it will be for you.

I can't think of many other cards that are going to offer similar value for that amount of spending. I think the only other one is the PRG if you can get the offer.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

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CarefulBuilder14
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Re: What card is best to open for $3800 Purchase?

Postby CarefulBuilder14 » Wed Dec 30, 2015 10:31 pm

solomon wrote:Currently Chase Sapphire Preferred is offering 50,000 points with a $4000 purchase in 3 the first three months. Since this purchase is about 95% of the $4000 I have to buy within the first three months.

I already have 43000 points with Chase Freedom. I can merge my 50,000 with my 43,000.

My only concern is that the Chase Sapphire Card is rumored to suck now and is put in the sock drawer.

Are there better options?

Have you opened five or more accounts within the last 24 months?

Chase has (last I checked) been declining many people with a lot of new accounts under the so-called "5/24 rule" for CSP and Freedom.

ETA: If you just want the cash, and don't want to bother with transfer partner loyalty programs, I see nothing wrong with taking the URs as cash. Chase won't like it when you close the CSP, but most of the other good cards Chase offers are meant for people who participate in loyalty programs. In that light, you wouldn't really be missing out on anything.
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kdm31091
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Re: What card is best to open for $3800 Purchase?

Postby kdm31091 » Thu Dec 31, 2015 6:08 am

AFAIK the "you can't have more than 5 new accounts in 2 years" still stands with Chase's core cards: CSP, Freedom, and usually Slate (sometimes people have gotten around it with Slate, but it has no rewards).

Anyway OP, since you're going to PIF the purchase immediately, may as well try the CSP if that's what you want. At least you get $500 out of it even if it doesn't work out long term.

takeshi
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Re: What card is best to open for $3800 Purchase?

Postby takeshi » Mon Jan 04, 2016 8:45 am

solomon wrote:My only concern is that the Chase Sapphire Card is rumored to suck now and is put in the sock drawer.

Are there better options?

Best, better, suck, etc are all highly subjective and you need to evaluate any card using your needs/wants and not based on rumors or the opinions of others.

The CSP is my most used card but that's not necessarily relevant to you. Again, it's your needs/wants that determine these things.

solomon wrote:The only thing that has me interested is the 50,000 point bonus. If I can merge that into points then can I just merge the 50,000 with my Freedom card and convert that into ($500) cash back?

You can but statement credits are poor value for UR points. Better value is generally attained by transferring to travel partners to redeem.

Are you only interested in the sign on bonus (i.e. churning)? Do ongoing rewards not matter at all?



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