Is the CSP Worth It for Non-Travelers?

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Kevin86475391
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Is the CSP Worth It for Non-Travelers?

Postby Kevin86475391 » Wed Feb 17, 2016 9:01 pm

Chase has been sending me CSP offers for a long time and normally I just toss them directly in the trash. However, for one reason or another the 50,000 bonus points signup offer after 4K spend in 3 months on my latest offer is really tempting me.

I do a lot of eating out and after housing/bills it's my biggest spend category. I already have the Citi DC for 2% cash back in general, so I realize I wouldn't be increasing my dining out rewards at all.

I also do absolutely zero traveling and have no desire whatsoever to start. I would ONLY use the points for cash back redemption. So in essence it's a $500 signup offer, which certainly is still appealing even without travel bonuses.

I really hate that dining out and traveling seem to be linked in rewards programs. I enjoy frequent dining out right in my own home town thank you very much, lol :ppp

So anyway I'd really only be getting it for the signup bonus. The first year's AF is waived and I'd keep it the second year just to avoid coming off as a churner and since it would still be at least comparable to the Citi DC in rewards value to me with the 2X points for resturants. Which means I'd net $405 in signup - which still seems like pretty solid value. I can't imagine keeping it the third year.

I'm not concerned with approval and only have 1 new account in the last 24 months (Citi DC), so the 5/24 rule is no where near relevant to my situation either. The 4K spend also isn't an issue since I can just shift regular monthly bills to that card and meet it without spending anything extra at all.

Normally I don't signup for new cards purely for the bonus, but this one does have me thinking twice. So what do you guys think, is the CSP worth it for non-travelers?


Nixon
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Re: Is the CSP Worth It for Non-Travelers?

Postby Nixon » Wed Feb 17, 2016 9:05 pm

Yes. If you like metal cards.
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CarefulBuilder14
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Re: Is the CSP Worth It for Non-Travelers?

Postby CarefulBuilder14 » Wed Feb 17, 2016 9:16 pm

Even if you take the bonus as a statement credit, it's still a great card for the first year or two. Go for it.
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Tubpbs
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Re: Is the CSP Worth It for Non-Travelers?

Postby Tubpbs » Thu Feb 18, 2016 6:10 am

CarefulBuilder14 wrote:Even if you take the bonus as a statement credit, it's still a great card for the first year or two. Go for it.


Agreed. It seems like you know exactly what you want out of it, which is perfect. As long as you stick with your plan, I see no reason not to try the card out.
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kdm31091
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Re: Is the CSP Worth It for Non-Travelers?

Postby kdm31091 » Thu Feb 18, 2016 7:28 am

Is it worth it long term for non travelers? No. I wouldn't pay $95 for 2% back on dining/travel when you have a free 2% back on everything.

But if you want the bonus, it sounds like you're in a position to go for it, so, why not?

Nixon
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Re: Is the CSP Worth It for Non-Travelers?

Postby Nixon » Thu Feb 18, 2016 8:41 am

If I didn't already have the RC I would PC back into it to use the primary rental insurance benefit.
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Kevin86475391
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Re: Is the CSP Worth It for Non-Travelers?

Postby Kevin86475391 » Thu Feb 18, 2016 8:43 am

Thanks guys, I did decide to go for it. Instant approval online and I added an AU for the 5,000 bonus points. So that's a bit extra I'd forgotten to take into consideration before. Nifty!

Nixon
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Re: Is the CSP Worth It for Non-Travelers?

Postby Nixon » Thu Feb 18, 2016 10:43 am

I'm considering maxing out my travel credit on the RC when the AF hits and closing it.

Then PC my Sapphire back to Preferred to earn extra UR on my long term rental keeping the primary rental insurance.

Thoughts?
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CarefulBuilder14
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Re: Is the CSP Worth It for Non-Travelers?

Postby CarefulBuilder14 » Thu Feb 18, 2016 1:54 pm

Nixon wrote:I'm considering maxing out my travel credit on the RC when the AF hits and closing it.

Then PC my Sapphire back to Preferred to earn extra UR on my long term rental keeping the primary rental insurance.

Thoughts?

There's some risk that Chase may tighten PC policies.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

kdm31091
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Re: Is the CSP Worth It for Non-Travelers?

Postby kdm31091 » Thu Feb 18, 2016 5:05 pm

CarefulBuilder14 wrote:
Nixon wrote:I'm considering maxing out my travel credit on the RC when the AF hits and closing it.

Then PC my Sapphire back to Preferred to earn extra UR on my long term rental keeping the primary rental insurance.

Thoughts?

There's some risk that Chase may tighten PC policies.


Right. At any point, they may decide to make the no-fee Sapphire completely unavailable even with PC, so I'd make sure you want to keep the Preferred.



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