Poll

Sapphire Reserve - Keeping Card (Paying $450 fee) or closing the card.

Keeping and paying the fee.
64 (59.8%)
Closing.
43 (40.2%)

Total Members Voted: 105

Voting closed: September 03, 2017, 08:55:08 AM

Author Topic: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee  (Read 17097 times)

tooqk4u22

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https://forum.mrmoneymustache.com/welcome-to-the-forum/chase-sapphire-reserve-100-000-points-signup-bonus/

Well its been about a year since this card has blown up the points seen and everyone who got (a lot based on the losses chase took) is near the time to decide whether or not to keep or close the card. 

Curious as to who is keeping it and why.

Sailor Sam

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #1 on: August 04, 2017, 09:24:27 AM »
I like the 1.5% multiplier on travel.

My strategy is to save the $300 cash back, and put that towards the fee. So, it's only $150 out of pocket. I recoup that when purchasing travel through the Chase portal.

Plus, I'll freely admit the card itself is a pleasant tactile experience. Dark and hefty, making my flimsy plastic debit card seem inferior. Hedonic adaption at it's finest!

Eric9064

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #2 on: August 04, 2017, 09:36:50 AM »
I was thinking about this as well recently and have decided to keep the card and pay the fee. Once you factor in the travel credit, it is really only $150 and I'll amass enough points throughout the year to come out well ahead.

renata ricotta

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #3 on: August 04, 2017, 10:20:27 AM »
I am! Remember, it's only a $150 fee because in January I'll get another $300 travel credit. 

I travel a lot for work.  Just in 2017 so far, I have fronted almost $20,000 of reimbursed travel expenses.  I currently have a purchased ticket for an upcoming trip that I paid over $12,000 for (international, last-minute, business class, fully refundable).  Then there is all of my reimbursable dining while on work trips, not to mention just the regular dining and travel I do on my own dime.

Compared to the Chase Freedom card ($0 annual fee, so $150 delta to be made up), keeping the CSR pays for itself it if you spend at least $4,266 per year on travel or dining.
Freedom: Spend $4,266 on travel or dining, you get $42.66 in travel redemption (1%).
CSR: Spend $4,266 on travel, you get $192 in travel redemptions (4.5% - 3% in points, and then a 50% bonus). That pays for the $150 fee. 

Compared to the Preferred card ($95 annual fee, so $55 delta to be made up), keeping the CSR is worth it if you spend at least $2500 on travel or dining in a year.
CSP: Spend $$2,500 on travel or dining, you get $56.25 in travel redemption (2.25% - 2% in points, and then a 25% bonus).
CSR: Spend $2,500 on travel or dining, you get $112.50 in travel redemption (4.5%). 

Note that this doesn't even look at the other perks of the CSR.  I already have pre-check, so I don't value that at all.  I "value" lounge access at about $7-9 per visit, because I get a free beer/wine and if I have that much time at the airport, I'd probably buy a drink at another airport bar to pass the time (mustachians who wouldn't pay that in the first place might not value it at all).  It has great travel insurance; I got about $200 back after I was forced to stay an extra night in London due to an air traffic control strike in Greece, for example.

ATR

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #4 on: August 04, 2017, 10:46:56 AM »
I am keeping the card! As the others have said, the $450 annually - $300 travel credit = $150 fee. This year, I will be renewing my Global Entry and will get $100 back from that as well. Bags delayed on a trip to Europe and I expect to receive an additional $200 back for expenses incurred.  Not to mention the ~15-20X I travel each year and use the airport lounges for food and drink. Definitely coming out ahead.

NeonPegasus

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #5 on: August 04, 2017, 10:58:24 AM »
Keeping.

I have been making travel a priority so I'll be spending plenty of that this year and the following.

I like the protections offered by the card and am going to try out the Priority Lounge benefit. Apparently, it extends to everyone in your traveling party, contingent upon the lounge's restrictions. We're visiting Portland soon and there's a lounge there where I can get a benefit of $28/person towards meals and drinks. If I take my family of 5 there to eat before we leave, that's a savings of nearly $150 right there (though of course we wouldn't max out the benefit for everyone).

I have already gotten more than $300 in benefits from Chase's customer service. I made a reservation through their portal and in spite of receiving confirmations the hotel did not get our reservation. When we arrived, they were completely sold out as was every other hotel in the downtown area except for one that cost over $600/night. Chase got us a reservation there for no additional points. Technically, I wouldn't have spent that money anyway but it was a lifesaver to get things fixed without it costing us a mint. I wonder if I would have gotten the same service if I'd only been a Chase Freedom cardholder.

I am intrigued about the rental car service, specifically the 30% discount on car rentals from National combined with the ability to get a mid-size car and then upsize for free when I get to the rental counter. Again, with a family of 5, being able to get something bigger for "free" would be cool. We have to get a mid-size no matter what and I totally regretted the sedan we ended up with last time. I realized I'll probably pay more to rent from National than a bargain rental agency but again, with 3 kids, it can be worth it to have less hassle.

o0olizo0o

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #6 on: August 04, 2017, 12:22:43 PM »
Between the $300 travel credit and the $100 cost for renewing my Global Entry this year, I easily make up the other $50 throughout the year because I use it to book travel through the Chase portal. Even if I used the points for cash that I applied to my balance, I would still come out ahead.

Bicycle_B

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #7 on: August 04, 2017, 01:43:09 PM »
Planning to drop.  IRL, I travel a little but not a lot.  Actually spending the $450 isn't worth the benefits for me.  Miles/points are available through cards without fees.

JoJo

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #8 on: August 04, 2017, 01:54:49 PM »
Keeping it.  Got good use out of Airport lounges (more than 10x).  It does have some built in travel & evacuation insurance so I skipped buying when I went to Indonesia for 7 weeks, saving over $60.    I also travel 4x a year for personal, and have airfare, motels, airbnb that gets the 3x points so that makes a bunch of the $150 net cost.

trollwithamustache

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #9 on: August 04, 2017, 02:04:32 PM »
will keep, but put me in the pile of people with sufficient business travel costs where the points lever arm should have me come out ahead.

Jrr85

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #10 on: August 04, 2017, 02:50:02 PM »
https://forum.mrmoneymustache.com/welcome-to-the-forum/chase-sapphire-reserve-100-000-points-signup-bonus/

Well its been about a year since this card has blown up the points seen and everyone who got (a lot based on the losses chase took) is near the time to decide whether or not to keep or close the card. 

Curious as to who is keeping it and why.

Dropping.  We get 3% back on dining on another card with no fees, 3% back on gas, pharmacies, and groceires on a card with no fees.  We get 2% back on everything else with no fees.  The chase portal is so expensive for the things I've looked at that the 1.5 times multiplier for travel is maybe a 1.1 multiplier in reality (maybe it's different for airline tickets?).

Even with all that, we'd probably keep it if we were traveling more, but we're a little too tied down by family right now to travel much.   

Dollar Slice

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #11 on: August 04, 2017, 02:54:47 PM »
Planning to drop it since I had to cancel upcoming travel plans. Maybe when I get my health issues sorted out I can reapply and get another bonus and use the points then.

My only regret is all the points I saved up will have to be cashed out instead of used at 1.5x for travel... but I'll still come out well ahead.

I am weirdly tempted to keep it just for the cool metal card factor. WTF? Why do I care?

secondcor521

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #12 on: August 04, 2017, 03:02:17 PM »
Up in the air, but leaning towards canceling/downgrading.  Since I got the card in December, my tentative plan is to let the $450 fee hit, wait for my December statement to close, get another $300 in travel credits for 2018, then downgrade.  I think that is the best I can do.

Another option is to list the card as a piggybacking card, do the Schedule C thing, and deduct the $450 as a business expense.  Would have to run numbers on that to see if it's worth it.

SV19

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #13 on: August 04, 2017, 03:13:49 PM »
Keeping it.

After using the $300, the fee comes out to $150. I like the 1.5x multiplier and twice I've used their roadside assistance (once because I locked my keys in the car, and second time I needed to tow my car about 13 miles away). Because they compensate $50 per transaction, I paid $0 for those services.


maustache

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #14 on: August 04, 2017, 03:39:37 PM »
I'm renewing. And you get $300 travel credit per calendar year. I got $300 in 2016 and $300 in 2017, so with another $300 in 2018 I'll break even on 2 years worth of fees. (Although if I don't renew I'm $150 ahead before all the other benefits). I've appreciated the lounge benefits also although I've only been able to use them 4 times, but once was with 3 kids.

geekette

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #15 on: August 04, 2017, 03:56:17 PM »
Debating, but will probably cancel.  We've already gotten 2 years of travel credit and the pre-check.  Never used the lounges (too short connections).  We'll probably just save up points for now (Freedom and Freedom Unlimited) and get the CSP later this fall to transfer to partners.  Using points for Hyatt Place stays has been great - $50 worth of points for a nice hotel room with breakfast?  Thanks! 

The Amazon Prime visa is now metal, if that's your thing.

TomTX

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #16 on: August 04, 2017, 04:23:44 PM »
Keeping for at least a year - I have close to 400k points accrued (consolidated from my wife's account as well) and we will be spending a lot of them on a month-long Hawaii trip. I'm going to get WAY more value than $150 (since as others noted, the travel credit offsets $300 of the fee) from keeping the card.

Wife will be dumping hers though.


scissorbill

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #17 on: August 04, 2017, 04:42:08 PM »
We already double dipped for the travel credit.  How much would you have to spend in a year to make the 1.5 on travel worth it? Versus a 2.5% cashback card with USAA with no annual fee I can't do the math right now but I think we'll be closing the CSR.  Especially since most of our CC spend is on grocery and the Amex blue cash preferred is worth 6% there right now. 

Dollar Slice

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #18 on: August 04, 2017, 05:01:27 PM »
We already double dipped for the travel credit.  How much would you have to spend in a year to make the 1.5 on travel worth it? Versus a 2.5% cashback card with USAA with no annual fee I can't do the math right now but I think we'll be closing the CSR.  Especially since most of our CC spend is on grocery and the Amex blue cash preferred is worth 6% there right now.

I believe the break-even point for a 2.5% cash back card would be spending $7500/yr on restaurants and travel (the 3% categories on CSR).

USAA: $7500 * 2.5% cash back = $187.50
CSR: $7500 * 3.0% cash back = $225

If you use the $225 at 1.5x on travel, it's worth $337.50. Add in the $300 annual travel credit and you get $637.50 in travel credits. Then subtract the $450 annual fee and you're left with $187.50, breaking even with the 2.5% card.

marshdesign

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #19 on: August 04, 2017, 05:25:08 PM »
Both my husband and I canceled our cards recently, already used the travel credit for this year. Nothing left but the annual fee! Going to switch to another high bonus card.

Ocinfo

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #20 on: August 04, 2017, 05:27:10 PM »
Definitely keeping. Both my wife and I have the card. I would happily pay an even higher fee. The $300 travel credit was used to buy a flight for work so really was cash back. I've made use of the lounge access on several occasions, often with a coworker or two. Also used the global entry credit so another $100 off the fee...


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Duke03

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #21 on: August 04, 2017, 09:57:02 PM »
I'll be keeping it.  I sure wished they'd run another special of 100k sign up bonus points so my wife can get the card.

seattlecyclone

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #22 on: August 04, 2017, 11:00:14 PM »
The jury's still out for us. We've had the card for a bit over six months. For the sake of simplicity, I'm looking just at the first six full months for the purpose of estimating points earned for the year.

The card benefits we use are as follows:
  • $300 travel credit. Already used up, worth $300 annually.
  • Extra 2.5% cash back on Chase Freedom's 5% categories. Six months of usage earned us an extra $21.24 here, extrapolating for a full year would be $42.48 of value.
  • Extra 2.5% cash back on travel and dining compared to the card we would otherwise use (Citi Double Cash). Six months of usage here gave us $27.46 extra, or $54.92 annually
  • Ability to transfer points to airlines. I spent 1,000 points to add 1,000 United miles and keep roughly 10,000 more miles active for another 18 months. Not sure how to value this.
  • Airport lounges. We've used this benefit once so far. My wife and I each had a light meal and a drink before a flight that we were early for. Not sure how to value that either. We could have easily spent $20 for that elsewhere in the airport, but would likely have spent less if it wasn't "free."

So far the easily quantifiable stuff is worth $300 + $42.48 + $54.92 = $397.40. That leaves a gap of just over $50 to be made up by the ability to transfer points to other airlines and the airport lounges. Maybe I'd value it that much? It's not a slam dunk either way. I'll see how things are looking once the one-year anniversary gets a bit closer.

N

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #23 on: August 05, 2017, 12:06:45 AM »
My husband has it and will be cancelling before the 2nd year Annual Fee hits (or as it hits).
We do travel hacking and have other cards we want to put spend on, etc. If I get the card, its conceivable I would keep it because I do more of the traveling than my husband.

davisgang90

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #24 on: August 05, 2017, 04:52:48 AM »
Keeping for now.  I'll be applying for a mortgage soon, so no credit card churning for now.  I end up covering the annual fee and then some easily, so it makes sense to keep it. 

Rural

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #25 on: August 05, 2017, 06:24:10 AM »
Dropping, or rather downgrading. Don't do enough travel to justify it, and will be doing less for the next five years -aside from driving 2.5 hours between home and husband's grad school, that is.

TomTX

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #26 on: August 05, 2017, 06:41:24 AM »
Dropping, or rather downgrading. Don't do enough travel to justify it, and will be doing less for the next five years -aside from driving 2.5 hours between home and husband's grad school, that is.

I should have been more specific above when I said my wife will be "dumping" the CSR - it will almost certainly be a downgrade to Freedom or Freedom Unlimited.

Also - some banks will offer a retention bonus if you wait until the annual fee posts to call and cancel. Typically you have 30 days to cancel without paying the new AF.

Debts_of_Despair

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #27 on: August 05, 2017, 06:46:34 AM »
Dropping it.  Already signed up for Chase SP yesterday.

I find that the travel portal is lacking.  There are much better deals to be found elsewhere.  They also don't have any of the discount airlines, which I frequently use.

It was an incredible ride though. 

Brother Esau

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #28 on: August 05, 2017, 06:51:36 AM »
Keeping (for now) as the 1.5 travel spending makes up for the net $150 fee. Looking for the next great sign up bonus though and will drop it when it makes sense. Still can't believe the DW and I received $4K towards travel spending!

Rural

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #29 on: August 05, 2017, 07:22:15 AM »
Dropping, or rather downgrading. Don't do enough travel to justify it, and will be doing less for the next five years -aside from driving 2.5 hours between home and husband's grad school, that is.

I should have been more specific above when I said my wife will be "dumping" the CSR - it will almost certainly be a downgrade to Freedom or Freedom Unlimited.

Also - some banks will offer a retention bonus if you wait until the annual fee posts to call and cancel. Typically you have 30 days to cancel without paying the new AF.


What do you guys recommend for downgrading, anyway? I don't have a Freedom and might like to go for that bonus once husband's housing is settled; can I apply for a new one if I downgrade to one? Already have a plain Sapphire (it's a downgraded Preferred) and a Chase Amazon.

TomTX

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #30 on: August 05, 2017, 08:11:09 AM »
Dropping it.  Already signed up for Chase SP yesterday.

I find that the travel portal is lacking.  There are much better deals to be found elsewhere.  They also don't have any of the discount airlines, which I frequently use.

It was an incredible ride though.

Typically if you find a travel option that's not on their portal, you can call in to have them book what you found.

geekette

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #31 on: August 05, 2017, 10:18:25 AM »
What do you guys recommend for downgrading, anyway? I don't have a Freedom and might like to go for that bonus once husband's housing is settled; can I apply for a new one if I downgrade to one? Already have a plain Sapphire (it's a downgraded Preferred) and a Chase Amazon.

The Freedom has the 5% bonus on various things every quarter and 1% on everything else.  This quarter is restaurants and movie theaters.  Next quarter is "Holiday" (which often means Amazon, but it's not specified yet).

The Freedom Unlimited is 1.5% on everything, no bonus categories.

If you downgrade, you don't get the sign up bonus, but it doesn't count as a new card, which matters if you're trying to stay under 5/24.

Davids

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #32 on: August 05, 2017, 11:39:11 AM »
Not worth it for me. Business travel and expenses most be done on my employer corporate card so can't use for that. Oh well.

Rural

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #33 on: August 05, 2017, 12:04:53 PM »
What do you guys recommend for downgrading, anyway? I don't have a Freedom and might like to go for that bonus once husband's housing is settled; can I apply for a new one if I downgrade to one? Already have a plain Sapphire (it's a downgraded Preferred) and a Chase Amazon.

The Freedom has the 5% bonus on various things every quarter and 1% on everything else.  This quarter is restaurants and movie theaters.  Next quarter is "Holiday" (which often means Amazon, but it's not specified yet).

The Freedom Unlimited is 1.5% on everything, no bonus categories.

If you downgrade, you don't get the sign up bonus, but it doesn't count as a new card, which matters if you're trying to stay under 5/24.


So if I downgrade to a Freedom I can't also apply for a new Freedom for the bonus, right? I'll be under 5/24 for a little longer either way.

golfreak12

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #34 on: August 06, 2017, 11:31:27 PM »
After I double dip in Jan, I'll be cancelling.
The main reason why I decided to keep my Preferred was this reason.
I'll rinse and repeat after the 2 years wait.

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #35 on: August 07, 2017, 10:11:21 AM »
we will be keeping one of ours (wife has one as well) due to some extremely amazing customer service and help with some flight issues a few months ago. And it will be our only card we keep for UR utilization transfers etc.

michael

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #36 on: August 07, 2017, 12:59:35 PM »
Dropping.

We've had a Barclays World Elite for a few years now, and I was happy with it, but when this card came out I jumped on the opportunity based on rave reviews of Chase and the Ultimate Rewards portal.  We qualified and made this our mainstream card for 8 months or so.  Then we took a trip with it, and had repeatedly terrible customer experiences with Chase; the fee and points multiplier don't really add up for this card to be worthwhile, without the added benefit of valuable customer service, so we've cancelled it and are going back to the Barclays.


Dropping.  We get 3% back on dining on another card with no fees, 3% back on gas, pharmacies, and groceires on a card with no fees.

@Jrr85 what card do you use for 3% on groceries?  That's a big category for us and I've been struggling to find a decent card for it that doesn't have exorbitant fees.

thisisjeopardy

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #37 on: August 07, 2017, 05:24:38 PM »
Absolutely keeping. We have to travel somewhat frequently and the $300 credit makes it $150. And we come out ahead quite a bit with the UR gained.

aspiringnomad

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #38 on: August 07, 2017, 07:59:45 PM »
Will almost certainly keep. I've used the lounge access and hotel upgrades (lhrcollection) mostly during work travel and have transferred a ton of UR points to Southwest for personal travel to use a companion pass. I've yet to book through their travel portal but plan to use that at some point if we lose the SW companion pass (been rotating every other year between me and my wife) or if I don't have the miles easily covered with another airline. I also just signed up for the CSP again because I dipped below 5/24 this month and it's been nearly 3 years since I last received the 50k bonus for that card. I love the Chase cards.

Duke03

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #39 on: August 07, 2017, 08:55:52 PM »
Looks like chase has closed the $300 travel credit loop hole for anyone that signed up after May, 05,2017.


Taken from the chase site...

A statement credit will automatically be applied to your account when your card is used for purchases in the travel category, up to an annual maximum accumulation of $300. Annual means the year beginning with your account open date through the first statement date after your account open date anniversary, and the 12 monthly billing cycles after that each year. (For applications submitted before May 21, 2017, annual means the year beginning with your account open date through the first December statement date of that same year, and the 12 billing cycles starting after your December statement date through the following December statement date each year.) Call the number on the back of your card to see when you are eligible for your next $300 Annual Travel Credit.

aspiringnomad

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #40 on: August 07, 2017, 09:56:00 PM »
Looks like chase has closed the $300 travel credit loop hole for anyone that signed up after May, 05,2017.


Taken from the chase site...

A statement credit will automatically be applied to your account when your card is used for purchases in the travel category, up to an annual maximum accumulation of $300. Annual means the year beginning with your account open date through the first statement date after your account open date anniversary, and the 12 monthly billing cycles after that each year. (For applications submitted before May 21, 2017, annual means the year beginning with your account open date through the first December statement date of that same year, and the 12 billing cycles starting after your December statement date through the following December statement date each year.) Call the number on the back of your card to see when you are eligible for your next $300 Annual Travel Credit.

I think you understand this, but to clarify for others: it doesn't look as though the loophole is going away for existing card holders, just that for new applicants it will be an annual thing based on when you opened your account rather than the turning over of the calendar year. So, yes, the loophole allowing two credits during one annual fee period has closed to new applicants, but you still get $300/year to offset part of the annual fee.

sol

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #41 on: August 07, 2017, 10:56:01 PM »
We're planning to cancel/downgrade after the second $300 travel credit hits, before the second $450 annual fee hits.  We can't use them for work travel, so it's only personal family travelling that counts. 

I agree with previous posters that's it would be a toss up to keep/cancel for many people, if you were deciding based purely on making back the annual fee, but that's not the right comparison.  You can get better deals with other cards, so compare the CSR break-even with what you could earn from those instead.  Compared to other bonus cards out there, I think the CSR loses out without that big 100k sign-up bonus.

To the person who suggested using the CSR for tradelines, remember that they charge $75 per AU.  That significantly cuts into your payout, especially if your card is relatively new and below the upper credit limits.

missundecided

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #42 on: August 07, 2017, 11:18:24 PM »
I agree with previous posters that's it would be a toss up to keep/cancel for many people, if you were deciding based purely on making back the annual fee, but that's not the right comparison.  You can get better deals with other cards, so compare the CSR break-even with what you could earn from those instead.  Compared to other bonus cards out there, I think the CSR loses out without that big 100k sign-up bonus.

Which other big-bonus cards would you recommend instead?

Rural

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #43 on: August 08, 2017, 05:37:37 AM »
I think, based on the poll results, that Chase's gamble may pay off for them in the long term. Even here, the majority are going to continue paying the fee.

fuzzy math

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #44 on: August 08, 2017, 06:49:17 AM »



Dropping.  We get 3% back on dining on another card with no fees, 3% back on gas, pharmacies, and groceires on a card with no fees.

@Jrr85 what card do you use for 3% on groceries?  That's a big category for us and I've been
struggling to find a decent card for it that doesn't have exorbitant fees.
[/quote]

Amex blue cash. There's a free version for 3% on groceries, and a pay version that I think offers more.

Debts_of_Despair

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #45 on: August 08, 2017, 10:30:53 AM »
AMEX Blue Cash Preferred is 6% cash back on groceries with $6k cap and $75 annual fee.

Catbert

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #46 on: August 08, 2017, 11:33:12 AM »
My DH got it in March.  I didn't because I was 7/24.  By January I'll be back to 4/24 and will get the card even with only a 50K bonus.  DH will transfer any remaining points to me, collect his second $300 travel credit, and then downgrade the card.
Not sure what I'll do in 2019.



TheAnonOne

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #47 on: August 08, 2017, 11:55:54 AM »
Any continued benefits are so drastically dwarfed by churning cards that no card is worth keeping.

DaChief84

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #48 on: August 08, 2017, 01:15:38 PM »
Just a quick question...If you were to cancel the card, do you need to transfer all of your points out of the Chase Portal and into say Southwest Rapid Rewards account to keep the points?

DarkandStormy

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Re: Sapphire Reserve - Who is keeping and paying the next $450 Annual Fee
« Reply #49 on: August 08, 2017, 01:22:02 PM »
Just a quick question...If you were to cancel the card, do you need to transfer all of your points out of the Chase Portal and into say Southwest Rapid Rewards account to keep the points?

You could transfer them to a non-annual fee card, like the Freedom or Freedom Unlimited.  You will need a Preferred or Reserve card to get the benefit of transferring them to the travel partners, I believe, though.