Author Topic: Chase Sapphire Reserve - Pay Yourself Back feature  (Read 4580 times)

salt cured

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #50 on: August 05, 2020, 08:50:14 AM »
Reported to be extended later, although categories may change

https://milestomemories.com/chase-pay-yourself-back-extended/

Great news. As a general FYI, I also saw that the CSR is currently offering 10 points/dollar on streaming services and 5 points/dollar on gas stations (until the end of Sept I believe). I must have opted out of their mailing list because I always seem to learn about these promos late.

seattlecyclone

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #51 on: August 05, 2020, 03:07:11 PM »
Idea for a new thread, post your hacks to optimize your credit card points. I would start it but I do not follow the credit card guru , we would need someone like dragon car or Seattle cyclone to post their expert understanding of maximizing point values. I just. Open cards get bonus redeem and hope for the best. I was able to get a months worth of groceries covered by my chase Safire bonus, coincidence that I signed up for the card just pre covid.

Thanks for the compliment, but I really consider myself barely past the novice stage in points expertise. I understand cash back percentage deals and make use of those pretty effectively. The real experts know exactly which cards to apply for, and when, in order to get the best possible sign-up bonuses. They also know how to get better deals on their points than simply redeeming them for cash or statement credits.

dragoncar

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #52 on: August 05, 2020, 04:06:51 PM »
Idea for a new thread, post your hacks to optimize your credit card points. I would start it but I do not follow the credit card guru , we would need someone like dragon car or Seattle cyclone to post their expert understanding of maximizing point values. I just. Open cards get bonus redeem and hope for the best. I was able to get a months worth of groceries covered by my chase Safire bonus, coincidence that I signed up for the card just pre covid.

Thanks for the compliment, but I really consider myself barely past the novice stage in points expertise. I understand cash back percentage deals and make use of those pretty effectively. The real experts know exactly which cards to apply for, and when, in order to get the best possible sign-up bonuses. They also know how to get better deals on their points than simply redeeming them for cash or statement credits.

Same!  I don't regularly follow the credit card blogs, so usually whenever I think I figured something clever it was posted months ago somewhere else.  For example, I stumbled upon the "Chase Trifecta" (https://thepointsguy.com/guide/chase-card-trifecta/) by accident but it's well known in those circles.

seattlecyclone

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #53 on: September 15, 2020, 11:15:50 PM »
Anyone else sign up for the Chase Freedom Flex? I snagged it today. 20k Ultimate Rewards points for spending $500, plus 5 points/dollar on groceries for the first year. Seemed like a pretty easy win.

dragoncar

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #54 on: September 16, 2020, 01:20:20 AM »
Anyone else sign up for the Chase Freedom Flex? I snagged it today. 20k Ultimate Rewards points for spending $500, plus 5 points/dollar on groceries for the first year. Seemed like a pretty easy win.

Thinking of going for the Sapphire Preferred 80k bonus... but I think I have too much open credit with chase and I have to wait another month or so to get around their 48 month bonus restriction from the CSR.  Considering asking them to reduce credit limit on my 4 freedom cards to $5-6k (I kept downgrading to freedom after getting other signup bonuses).  What do yalls think about that plan?  Only worried when good quarter categories roll around I'll have higher utilization on those cards.

Then maybe I'll change the CSP to a flex.  Wife will probably apply for flex and we'll see about her CSR because it's speculated they will need to revamp their benefits to remain competitive against a no-fee flex.

Still waiting for an update on the PYB feature.  Many rumors they will extend or modify it, but no announcements yet.  Getting antsy to burn up my points as travel isn't in the cards for at least a year.
« Last Edit: September 16, 2020, 01:25:24 AM by dragoncar »

seattlecyclone

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #55 on: September 16, 2020, 02:54:22 AM »
80k points is pretty lucrative if you can get it. I looked back at my CSR statements and my 100k signup bonus landed in April 2017, so I have some time left before that 48-month window expires in my case.

I'm also waiting carefully to see what they do about Pay Yourself Back going forward. I did manage to use most of my points on restaurants and groceries, but I'll keep accruing more and it would be good to have something to spend them on going forward. My annual fee is due to post in February. If renewals are back up to $550 by then I'm likely going to use my Doordash credit in January and then cancel.

salt cured

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #56 on: September 16, 2020, 07:05:43 AM »
Anyone else sign up for the Chase Freedom Flex? I snagged it today. 20k Ultimate Rewards points for spending $500, plus 5 points/dollar on groceries for the first year. Seemed like a pretty easy win.

Thanks for posting. Looks like I've thrown about 75k points at the Pay Yourself Back program since July, so it will good to top up the coffers.

DadJokes

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #57 on: September 16, 2020, 07:13:01 AM »
I'm stoked about the 80k CSP offer. I was planning on getting CSP for the wife in October, so hopefully the offer doesn't get pulled quickly.

therethere

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #58 on: September 16, 2020, 08:44:47 AM »
Ugh I was so excited about the CSP offer. I thought P2 was eligible since he hasn't had a CSP in over 4 years. But I think they changed the terms and conditions.....

"You haven't received a new cardmember bonus for any Chase Sapphire card in the past 48 months." Didn't that used to be specific to the card you were applying to, not the entire family?

I got the CSR in 2/2017 which was only a couple months after it came out if I remember correctly. But with the 48 month exclusion timeline, pretty much anyone who ever signed up for the Chase Sapphire Reserve card is ineligible.

jpdx

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #59 on: September 16, 2020, 10:21:56 AM »
Any word on what the Pay Yourself Back categories will be starting in October?

Catbert

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #60 on: September 16, 2020, 10:24:59 AM »
Anyone else sign up for the Chase Freedom Flex? I snagged it today. 20k Ultimate Rewards points for spending $500, plus 5 points/dollar on groceries for the first year. Seemed like a pretty easy win.

Thinking of going for the Sapphire Preferred 80k bonus... but I think I have too much open credit with chase and I have to wait another month or so to get around their 48 month bonus restriction from the CSR.  Considering asking them to reduce credit limit on my 4 freedom cards to $5-6k (I kept downgrading to freedom after getting other signup bonuses).  What do yalls think about that plan?  Only worried when good quarter categories roll around I'll have higher utilization on those cards.

Then maybe I'll change the CSP to a flex.  Wife will probably apply for flex and we'll see about her CSR because it's speculated they will need to revamp their benefits to remain competitive against a no-fee flex.

Still waiting for an update on the PYB feature.  Many rumors they will extend or modify it, but no announcements yet.  Getting antsy to burn up my points as travel isn't in the cards for at least a year.

If I were that close, I'd wait the extra month or so to get the CSP and 80K bonus.  I have gotten into the habit of lowering credit limits on other cards before applying for the new card.  IIRC you can do that by SM since I hate talking to people on the phone.
Personally I plan to product change a Freedom to the new Freedom Flex.  I'd rather use that slot for something more interesting...like the CSP in your case. 

dragoncar

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #61 on: September 16, 2020, 12:30:46 PM »

If I were that close, I'd wait the extra month or so to get the CSP and 80K bonus.  I have gotten into the habit of lowering credit limits on other cards before applying for the new card.  IIRC you can do that by SM since I hate talking to people on the phone.
Personally I plan to product change a Freedom to the new Freedom Flex.  I'd rather use that slot for something more interesting...like the CSP in your case.

That do you typically lower your limit to?  Iíve heard $5k is the minimum for visa signature cards.  What should my total extended credit be with chase before I apply for a new card?  Iíve heard people run into issues around $60k but Iím beyond that and unfortunately my last income statement to them was much higher than it will be now.

seattlecyclone

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #62 on: September 16, 2020, 02:42:29 PM »
Interesting. I had $71.5k of credit across four cards before applying for the Flex, and was instantly approved for $16.6k more.

dragoncar

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #63 on: September 16, 2020, 03:40:52 PM »
Interesting. I had $71.5k of credit across four cards before applying for the Flex, and was instantly approved for $16.6k more.

In that case I may not bother with decreasing limits just yet.  Iím close to that but not including business cards

salt cured

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #64 on: September 16, 2020, 08:23:31 PM »
Interesting. I had $71.5k of credit across four cards before applying for the Flex, and was instantly approved for $16.6k more.

In that case I may not bother with decreasing limits just yet.  Iím close to that but not including business cards

I had a similar experience. $71k across three personal Chase cards and they gave me another 21k on the Flex.
« Last Edit: September 16, 2020, 08:25:02 PM by salt cured »

DadJokes

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #65 on: September 17, 2020, 02:06:34 AM »
From my understanding, Chase will generally let you get to around 50% of household income as a total credit limit.

However, I exceeded that during the last year, so I think it's more of a soft cap.

elaine amj

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #66 on: September 17, 2020, 08:10:22 AM »
Well, it was weird to see 0 points. I used up a whopping $1900 in points via Pay Yourself Back on my Chase Sapphire Reserve.

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Catbert

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #67 on: September 17, 2020, 11:53:18 AM »

If I were that close, I'd wait the extra month or so to get the CSP and 80K bonus.  I have gotten into the habit of lowering credit limits on other cards before applying for the new card.  IIRC you can do that by SM since I hate talking to people on the phone.
Personally I plan to product change a Freedom to the new Freedom Flex.  I'd rather use that slot for something more interesting...like the CSP in your case.

That do you typically lower your limit to?  Iíve heard $5k is the minimum for visa signature cards.  What should my total extended credit be with chase before I apply for a new card?  Iíve heard people run into issues around $60k but Iím beyond that and unfortunately my last income statement to them was much higher than it will be now.

My current open credit with Chase is about half my stated income over 6 cards. I started lowering my credit limits before applying for cards a few years ago.  As I got more cards I noticed that the credit limits on each new card was lower than the last.  For example, my inital card had a limit of 30K, with subsequent cards limits of 20K and falling.  The lowest limit I have on any is 5K. 

If you don't hate phone call as I do, you can always wait to see if rejected and then call reconsideration line to move credit around then.

dragoncar

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Re: Chase Sapphire Reserve - Pay Yourself Back feature
« Reply #68 on: September 17, 2020, 08:26:34 PM »


If you don't hate phone call as I do, you can always wait to see if rejected and then call reconsideration line to move credit around then.

Fair enough.  I do hate phone calls, but willing to do it.  I'm more worried that with human eyes on account, they will do an income verification which I assume is just a pain even if you aren't lying.  There have been some reports that Chase has stepped up income verification.