CSP is up for renewal

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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MemberSince99
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CSP is up for renewal

Postby MemberSince99 » Sat May 10, 2014 6:38 pm

And I am finding I'm having a hard time justifying that fee. I haven't used it at all for travel yet. That may come, but right now, I'm just thinking I will move as much of the line as I can to the Freedom and close it down rather than pay the fee. I'm not getting value from it, and I would not expect to see an increase without taking two hard pulls (and maybe not even then as I saw) and I have two travel cards with higher limits and one without an annual fee.


I can't really justify to myself the cost of this, but I am still a bit hesitant to move the limit and close. Still if I'm going to do it, I better do it soon before the fee comes up. Once I pay it I might as well hang onto it for the year.


So it's kind of on the chopping block. But I do want to move that limit to the Freedom....no point wasting that.


haikuginger
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Postby haikuginger » Sat May 10, 2014 7:41 pm

If you do, be sure to transfer your UR points back over to the Freedom first!

Battery111
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Postby Battery111 » Sat May 10, 2014 8:02 pm

Hopefully this isn't a double post. Think I hit the wrong button when replying a second ago.

Do you use it for dining? If so is it possible to PC to the standard no AF sapphire? If they'll do that then perhaps you could PC back in the future if you anticipate traveling more.
Citi AAdvantage Executive World Elite MasterCard
AMEX Platinum
AMEX Everyday Preferred
USAA AMEX
Discover IT
Chase Freedom
Chase Sapphire Preferred
NFCU nRewards Visa

TheLethargicAge
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Postby TheLethargicAge » Sat May 10, 2014 8:11 pm

MemberSince99 wrote:And I am finding I'm having a hard time justifying that fee. I haven't used it at all for travel yet. That may come, but right now, I'm just thinking I will move as much of the line as I can to the Freedom and close it down rather than pay the fee. I'm not getting value from it, and I would not expect to see an increase without taking two hard pulls (and maybe not even then as I saw) and I have two travel cards with higher limits and one without an annual fee.


I can't really justify to myself the cost of this, but I am still a bit hesitant to move the limit and close. Still if I'm going to do it, I better do it soon before the fee comes up. Once I pay it I might as well hang onto it for the year.


So it's kind of on the chopping block. But I do want to move that limit to the Freedom....no point wasting that.


Just cancel it, dude. That's what I did once I realized I was never going to put enough spend on it to even cover the annual fee.
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)

MemberSince99
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Postby MemberSince99 » Sat May 10, 2014 10:17 pm

Battery111 wrote:Hopefully this isn't a double post. Think I hit the wrong button when replying a second ago.

Do you use it for dining? If so is it possible to PC to the standard no AF sapphire? If they'll do that then perhaps you could PC back in the future if you anticipate traveling more.




That is actually a good point and worth considering.

lexrj
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Postby lexrj » Sat May 10, 2014 11:18 pm

MemberSince99 wrote:And I am finding I'm having a hard time justifying that fee. I haven't used it at all for travel yet. That may come, but right now, I'm just thinking I will move as much of the line as I can to the Freedom and close it down rather than pay the fee. I'm not getting value from it, and I would not expect to see an increase without taking two hard pulls (and maybe not even then as I saw) and I have two travel cards with higher limits and one without an annual fee.


I can't really justify to myself the cost of this, but I am still a bit hesitant to move the limit and close. Still if I'm going to do it, I better do it soon before the fee comes up. Once I pay it I might as well hang onto it for the year.


So it's kind of on the chopping block. But I do want to move that limit to the Freedom....no point wasting that.



I was in the same position in March, I was going to pc and sd but I had 11k points left which wasn't enough for me to do anything so I paid my AF with it and I'm keeping for another yr.
---------------------------------------
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

DONx3
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Postby DONx3 » Sun May 11, 2014 12:58 am

Sounds to me it's not worth it for you and it's a $95 paper weight. I forgot to add, you could PC it to a regular Sapphire.
Amex Blue Cash Everyday 07/01
Amex Starwood Preferred Guest 03/16, BD 01
BOA Cash Rewards Visa Sig 06/07
Chase Freedom Visa Sig 12/13
Chase Ink Plus Visa Sig 05/16
Chase Sapphire Preferred Visa Sig 07/13
Discover It 01/14
IHG Rewards Club World MC 12/14
Southwest Rapid Rewards Plus Visa Sig 08/16

MemberSince99
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Postby MemberSince99 » Sun May 11, 2014 5:56 am

You guys really made a good point that I could PC it. I hadn't thought of that.


At the very least I'd move some limit to the Freedom. Haven't really decided yet though I'd better do it soon. I may keep it one more year and see if I use the bennies for travel and if not then maybe I'll bite the bullet and downgrade or move the limit and close.


I do think in general any card with an annual fee needs to be re-evaluated before the fee is due to see if you are getting value. I question whether I get 125 in value from the Amex Gold, but I don't plan to close it. It saves me paying for AAA, so that's worth something, and I like having access to the CreditSecure product. Maybe 95 for the CSP isn't really so bad even though I am making no use at all of that right now.

TheLethargicAge
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Postby TheLethargicAge » Sun May 11, 2014 11:29 am

Off topic:

Member, why did you close your Cash+?
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)

MemberSince99
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Postby MemberSince99 » Sun May 11, 2014 12:27 pm

I closed Cash + because they nerfed the rewards on it, and when I tried to contact them (US Bank) I called multiple times waiting on hold for over 20 minutes at a crack, unable to get through. One of the things I called about was a security issue, and it was very disheartening to me that I simply could not contact them via phone.


I decided that even as much as Verizon porks me, my cellphone bill just wasn't high enough to care about keeping the card, so I let it go. I had been using it for everything not just the 5% categories.


So now others get the swipes. With the way the card is now I still don't see a use for it, personally. And not being able to get ahold of them when I need to would scare me even if I did see a use for it.


That's why. In case you were wondering if they tried to talk me into keeping it, they did not. That was right after they nerfed it, and frankly they were probably happy I was closing it, or at least it didn't bother them.



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