Really PO'd! Chase dropping some CSP benefits

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papelet
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Really PO'd! Chase dropping some CSP benefits

Postby papelet » Tue Sep 30, 2014 8:50 pm

I was trying to a find a thread with this topic and it really surprises me that I couldn't find one.
I'm assuming Chase already achieved what they were looking for when they introduced the Sapphire Preferred since they are dropping some of the card's benefits.

The ones that bother me:

1- No more 7% dividend at the end of the year! 7% annually? some of you may ask... in 2012 (first year with the card) I put $36,000 in it, 30% being travel (which earned bonus points) plus the 50,000 bonus points I earned with the promo offer; not counting what I earned by shopping through the UR mall, restaurants, etc.
Last year I put close to $49,000 in the card with even more travel (big family and they all travel a lot) and UR mall shopping, plus restaurants, plus the 7% from the previous year, etc.
So, if you ask me, 7% back annually was a great deal.

2- No more 1 extra point when you schedule your travel through UR... this really bothers me since my family travels a LOT! and that extra point is what really gives the 7% annually a boost.

They did upgraded the car rental coverage from secondary to primary, which is really good, bit it's a benefit I've never used.

My points is that the 7%, plus the 1 extra point alone gave me back around 20,000 points in 2 years, which equals $200 in cash back or $240 towards travel.
All this really bothers me since I also have a chase Freedom to take advantage of the rotating categories, now I kinda feel like its not worth it anymore.

Am I alone?
[B]Cards:
1st. Express NEXT --------------$1,990
2nd.Cap1 Platinum MC ---------$3,250
3rd. Discover IT -------------------$5,600
4th. CSP Visa Signature --------$13,000
5th. Citi TY Pref World MC ------$5,900
6th. Freedom Visa Signature ---$7,900
7th. Amex Blue Cash Everyday-$18,000
8th. Barclays Arrival+ WEMC---$13,000


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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Sep 30, 2014 8:57 pm

This was news about a month ago. Look around and you'll find at least two threads on the topic.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red

MemberSince99
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Postby MemberSince99 » Tue Sep 30, 2014 9:07 pm

Nope you aren't alone at all those changes mostly suck.

dickey1331
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Postby dickey1331 » Wed Oct 01, 2014 10:51 am

Yeah the changes do suck but Im still keeping the card.
Platinum Delta Skymiles $12,900
Marriott Rewards Premier $12,000
Discover IT $12,000
USAA Cash Rewards $11,000
American Express Blue Cash Preferred $10,000
Chase Sapphire Preferred $6,500
Best Buy $6,000
Chase Freedom $4,500
Zales $4,000
Amazon Prime $4,000

TheSwarm
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Postby TheSwarm » Wed Oct 01, 2014 11:57 am

dickey1331 wrote:Yeah the changes do suck but Im still keeping the card.


Bleh, I may keep it after the annual fee too. But really what I think makes it worth it for me is the Freedom. I will always max out the 5% categories. I may see if it's possible to cancel the CSP at the 1 year and get an Ink so I can still transfer to airline partners. What do you think about this strategy?

luvbullmarkets
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Postby luvbullmarkets » Wed Oct 01, 2014 1:05 pm

It would have been nice for Chase to had grandfather in those benefits to existing cardholders.
Amex PRG, Amex EveryDay, Amex BCE, Barclaycard Arrival, Cap One Venture One, CSP, Chase Freedom, Discover it, Macy's Star Card, Wells Fargo Propel 365 Amex, Wells Fargo Visa Sig

"Attack this day with a level of enthusiasm unknown to mankind." - Jack Harbaugh

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nismoZtuner
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Postby nismoZtuner » Wed Oct 01, 2014 1:40 pm

luvbullmarkets wrote:It would have been nice for Chase to had grandfather in those benefits to existing cardholders.


yes! but greed that dam greed haha
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710
BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]
American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]
Chase Sapphire Preferred[7.3]
Inquires: TU(?) EX(?) EQ(?)
TCL-$19,800
Age-22

takeshi
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Postby takeshi » Thu Oct 02, 2014 8:57 am

papelet wrote:Am I alone?

No but does it really matter? If anything doesn't work for you then don't use it. IMO it sucks but I'm still going to use my CSP and other UR cards as they still are of benefit to me even with the changes. I don't book travel through the UR portal so that isn't relevant to me. I was benefiting from the 7% dividend but losing it is not a dealbreaker for me.

TheSwarm wrote:I may see if it's possible to cancel the CSP at the 1 year and get an Ink so I can still transfer to airline partners. What do you think about this strategy?

Again, one has to do what works for the individual. If the Ink is a suitable replacement for the CSP for you then it would make sense. I don't see how the two are comparable aside from enabling UR transfers. The Ink doesn't address the changes to the CSP that the OP is unhappy about. One of the Inks with an AF would be required for transfers. IIRC, there's a 70K sign up bonus (with spend requirement) for the Ink Plus floating around.

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Vattené
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Postby Vattené » Thu Oct 02, 2014 9:58 am

takeshi wrote:No but does it really matter? If anything doesn't work for you then don't use it. IMO it sucks but I'm still going to use my CSP and other UR cards as they still are of benefit to me even with the changes. I don't book travel through the UR portal so that isn't relevant to me. I was benefiting from the 7% dividend but losing it is not a dealbreaker for me.


I imagine this was exactly the calculation Chase made when cutting the benefits. Sure, customers will be upset about losing some benefits, but the bottom line is it saves them some expenses and customers won't lose enough in real terms to no longer make the card worthwhile to use.
-Vattené
FICO-8:
EX - 827 (4/17) | TU - 812 (4/17)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

TheSwarm
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Postby TheSwarm » Thu Oct 02, 2014 10:57 am

takeshi wrote:No but does it really matter? If anything doesn't work for you then don't use it. IMO it sucks but I'm still going to use my CSP and other UR cards as they still are of benefit to me even with the changes. I don't book travel through the UR portal so that isn't relevant to me. I was benefiting from the 7% dividend but losing it is not a dealbreaker for me.


Again, one has to do what works for the individual. If the Ink is a suitable replacement for the CSP for you then it would make sense. I don't see how the two are comparable aside from enabling UR transfers. The Ink doesn't address the changes to the CSP that the OP is unhappy about. One of the Inks with an AF would be required for transfers. IIRC, there's a 70K sign up bonus (with spend requirement) for the Ink Plus floating around.


That makes sense. Basically I max out the freedom categories and the main reason I got the CSP is to get access to the UR transfer partners 1:1. And of course the CSP sign up bonus.



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