CSP new design?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
31 posts
JA.
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Postby JA. » Tue Apr 02, 2013 11:27 pm

+1 on the pic!
Amex Zync
Chase Marriot Premier
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AwesomeAsh
 
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Postby AwesomeAsh » Sat Apr 06, 2013 10:29 am

I just got my card today with a limit of $5000.

Here is the new design. It's just minor refinements to make the card look better...and it does!

Image

Image

pewpew
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Postby pewpew » Sat Apr 06, 2013 3:55 pm

looks to me like you didn't think this through very well.

why did you get the preferred version? after the first year they will start charging an annual fee of $95. you will have to spend $9500 every year just to offset the annual cost. no 19 year old should be spending that amount of money.

after the first year, apply for a chase freedom if you don't already have one, move your points and close the card. then get a regular chase sapphire.
Junk I use:
AmEx Platinum for Mercedes Benz from, 75k spending ability
AmEx Everyday 8.99% + Prime, 44k CL
Chase Ink Bold, 35k
Chase Freedom (Converted from WaMu VISA) from '07, 5.99% + Prime, 30k CL

Junk I don't use
BoA Susan G. Komen Cash Rewards (converted from World Points MC) from '07, 7.9% Fixed APR, 30k CL
Discover IT (Converted from Discover More) from '08, 5.74% + Prime, 20k CL
AmEx Clear from '07, 4.99% + Prime, 10k CL
All 3 credit scores are over 800.

lexrj
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Postby lexrj » Sat Apr 06, 2013 5:01 pm

AwesomeAsh wrote:I just got my card today with a limit of $5000.

Here is the new design. It's just minor refinements to make the card look better...and it does!

Image

Image



I don't see anything new. What's new?
---------------------------------------
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)

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

agp
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Postby agp » Sat Apr 06, 2013 11:17 pm

lexrj wrote:I don't see anything new. What's new?


Ditto
10chars

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

fittiger
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Postby fittiger » Wed Apr 10, 2013 9:09 am

pewpew wrote:looks to me like you didn't think this through very well.

why did you get the preferred version? after the first year they will start charging an annual fee of $95. you will have to spend $9500 every year just to offset the annual cost. no 19 year old should be spending that amount of money.


Looks like this post was not very well thought out. You obviously have no idea what you're talking about. The kid already said he made about 38K. He's also 19 so may have support from elsewhere as well. You don't really know anything about him to make this judgement.

Second, maybe he wants to do some travelling and this card will earn him UR points that might help him do this for free....thats well worth $95 if you do it correctly....and he'll be 20 then.

Third, the CSP gets an additional 7% annual dividend on points, so that's a minimum of 1.7% on everyday transactions, which would pay for the AF with $6650 or less in spending.

Lastly, he could easily just ask Chase to convert his account to the non "Preferred" version if he no longer wished to pay the AF. No need to close the account.

plc44
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Postby plc44 » Wed Apr 10, 2013 10:11 am

pewpew wrote:looks to me like you didn't think this through very well.

why did you get the preferred version? after the first year they will start charging an annual fee of $95. you will have to spend $9500 every year just to offset the annual cost. no 19 year old should be spending that amount of money.

after the first year, apply for a chase freedom if you don't already have one, move your points and close the card. then get a regular chase sapphire.


Not quite $9,500 since you get double points on dining and travel. Also, there's a 40,000 point bonus, also he could get the Chase Freedom at no annual cost and parlay all the 5% back points he gets with that. There's a lot of strategies he can use to make that card worth it.
Discover More - $1000 (07/12)
Chase Freedom - $1000 (02/13)
American Express SPG - $2000 (08/13)
American Express Green Card - NPSL (12/12)

mattymatt808
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Postby mattymatt808 » Wed Apr 10, 2013 3:00 pm

fittiger wrote:Third, the CSP gets an additional 7% annual dividend on points, so that's a minimum of 1.7% on everyday transactions, which would pay for the AF with $6650 or less in spending.


Close, the 7% dividend gives you a return of 1.07% which requires a minimum spend of $8878.50 to make up for the AF.

The signup bonus alone covers the annual fee for 4 years (5 including the waived year) if you redeem it for $400 cash back (the least efficient redemption method), and can be worth at least $500 when redeemed for travel.
$2500 First Hawaiian Bank (6/10)
$4500 CHASE Freedom (2/13)
$3500 Citi Forward (2/13)
$2000 Discover it (2/13)
$9600 AMEX BCE (3/13)
$10000 CHASE Sapphire Preferred (7/13)
$5000 CHASE Ink Plus (8/13)

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djrez4
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Postby djrez4 » Wed Apr 10, 2013 3:24 pm

mattymatt808 wrote:Close, the 7% dividend gives you a return of 1.07% which requires a minimum spend of $8878.50 to make up for the AF.


True if you never, ever, use the card for travel or dining out. However, it would be very difficult to get an effective rate of 1.07%.

The signup bonus alone covers the annual fee for 4 years (5 including the waived year) if you redeem it for $400 cash back (the least efficient redemption method), and can be worth at least $500 when redeemed for travel.


At least. My last redemption (including my CSP bonus) was for an itinerary that would have cost over $4000 in cash, but cost only 120,000 points. That's $0.033 per point, making my CSP bonus worth $1333.33. That covers my annual fee for 13 years.

Also, the CSP redesign looks shockingly similar to the card I received in October.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

mattymatt808
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Postby mattymatt808 » Wed Apr 10, 2013 4:35 pm

Wow! I am working toward getting the CSP later this year or early 2014, and your experience is great to hear :D

And yeah, the intent of my post was to show the absolute lowest value you could get out of the points.
$2500 First Hawaiian Bank (6/10)
$4500 CHASE Freedom (2/13)
$3500 Citi Forward (2/13)
$2000 Discover it (2/13)
$9600 AMEX BCE (3/13)
$10000 CHASE Sapphire Preferred (7/13)
$5000 CHASE Ink Plus (8/13)



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