Author Topic: Chase Sapphire Reserve; 100,000 points signup bonus  (Read 280652 times)

mom22boys

  • Stubble
  • **
  • Posts: 180
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #100 on: August 26, 2016, 11:28:53 AM »
Instant approval too a couple days ago! I've just started some light credit card churning, and this sounds like a great deal!  And I am one of the lucky ones that has never had a Chase card before.  :-)  I have to do more research on all the comments about getting the other cards, Freedom and Preferred.  I'm really debating whether to get the bonus and cancel (after also getting the $300 this year and $300 next year), or whether to keep it longer.  Am I understanding correctly that the $450 is charged at the end of the year, so can I cancel before that and still get the $1,500 if booked through UR, and the two years of $300?

I wish Delta was one of their partners, but hey, at least I can book on Delta through UR.

I'm planning to charge my extra payments on special assessments from my house on the card.  That worked for the Venture card last year for me, so I'm hoping it will work with this card.  That will instantly put me over the $4k.  Yeah, for that but booo for special assessments, but they are almost paid off. If paying the special assessments doesn't count, I also do all my charitable giving on my cards, such as tithe, which is also a big one for me.

ender

  • Walrus Stache
  • *******
  • Posts: 7402
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #101 on: August 26, 2016, 11:36:30 AM »
I also do all my charitable giving on my cards, such as tithe, which is also a big one for me.

I've thought about doing this too...

geekette

  • Magnum Stache
  • ******
  • Posts: 2550
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #102 on: August 26, 2016, 02:50:37 PM »
Am I understanding correctly that the $450 is charged at the end of the year, so can I cancel before that and still get the $1,500 if booked through UR, and the two years of $300?

From what I understand, the annual fee is charged up front (and doesn't count toward minimum spend).

You'll get the points and $300 travel credit for each of 2016 and 2017, assuming you charge travel each calendar year.

kitkat

  • 5 O'Clock Shadow
  • *
  • Posts: 85
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #103 on: August 26, 2016, 03:55:49 PM »
Am I understanding correctly that the $450 is charged at the end of the year, so can I cancel before that and still get the $1,500 if booked through UR, and the two years of $300?

From what I understand, the annual fee is charged up front (and doesn't count toward minimum spend).

You'll get the points and $300 travel credit for each of 2016 and 2017, assuming you charge travel each calendar year.

Yep, this is right. You get charged $450 immediately, then will get charged again the next year if you do not cancel.

If you don't cancel, you will also get $300 in 2018, so your actual cost is $150, so you'd need to decide if the 1.5x on travel redemption and the 3x on travel earning is worth it for another year.

Curbside Prophet

  • Stubble
  • **
  • Posts: 182
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #104 on: August 26, 2016, 05:34:53 PM »
Part of me is bummed I can't take advantage of this offer but then part of me is happy that I don't have 4 grand I need to spend in the next 3 months.  That can be put on a CC at least.  Why can't mortgages be paid with a CC, why!!!

johnny847

  • Magnum Stache
  • ******
  • Posts: 3188
    • My Blog
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #105 on: August 26, 2016, 06:08:22 PM »
Part of me is bummed I can't take advantage of this offer but then part of me is happy that I don't have 4 grand I need to spend in the next 3 months.  That can be put on a CC at least.  Why can't mortgages be paid with a CC, why!!!

You can easily manufacture spend $4k.

Paul der Krake

  • Walrus Stache
  • *******
  • Posts: 5854
  • Age: 16
  • Location: UTC-10:00
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #106 on: August 26, 2016, 07:30:51 PM »
Tried getting pre-approved in branch- no luck.

Cue the tiny violins.

ender

  • Walrus Stache
  • *******
  • Posts: 7402
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #107 on: August 27, 2016, 06:14:53 AM »
Part of me is bummed I can't take advantage of this offer but then part of me is happy that I don't have 4 grand I need to spend in the next 3 months.  That can be put on a CC at least.  Why can't mortgages be paid with a CC, why!!!

https://www.plastiq.com/

robtown

  • Stubble
  • **
  • Posts: 177
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #108 on: August 27, 2016, 09:49:57 AM »
You should be happy of your low spend rate.   Here is some of the things I've done:

pay a full year or more of any monthly club/membership dues/fees   e.g. gun range
pay ahead a few months on monthly expenses such as  fast toll
convert all utility, phone, internet bills to cc payment
buy a craigslist freezer, if necessary,   and a side of beef

Part of me is bummed I can't take advantage of this offer but then part of me is happy that I don't have 4 grand I need to spend in the next 3 months.  That can be put on a CC at least.  Why can't mortgages be paid with a CC, why!!!

robtown

  • Stubble
  • **
  • Posts: 177
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #109 on: August 27, 2016, 09:53:40 AM »
My online Chase account showed the new card and the last 4 digits of the cc number.    I called their help line to see if I could get the rest of the cc number before the actual card arrived.   They said no dice, that they have explicit instructions that that was verbotten.   In addition, they said they were swamped with applications and it would slow the physical card delivery.

I intend to  put $4k on the card by booking a cruise before Aug 31st.   After that an incentive for the purchase drops off.   I also want to get the 100k miles ASAP since that's how I'll pay for our trip to Ft. Lauderdale

Tubby

  • 5 O'Clock Shadow
  • *
  • Posts: 13
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #110 on: August 27, 2016, 10:04:11 AM »
Greetings all. Stopped lurking and actually joined. Signed up for this deal and was instantly approved. When I get the card, I will go to my Holiday Inn rewards site and buy points with the card as they are running a sale on points for the next two weeks. Figure that'll cover the $300 travel spend right off the bat.

monstermonster

  • Magnum Stache
  • ******
  • Posts: 4291
  • Age: 36
  • Location: The People's Republic of Portland (Oregon)
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #111 on: August 27, 2016, 10:28:25 AM »
Oh god, trying real hard not to get this. It's my last card before 5/24 kicks in...

Catbert

  • Magnum Stache
  • ******
  • Posts: 3298
  • Location: Southern California
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #112 on: August 27, 2016, 11:06:22 AM »
Greetings all. Stopped lurking and actually joined. Signed up for this deal and was instantly approved. When I get the card, I will go to my Holiday Inn rewards site and buy points with the card as they are running a sale on points for the next two weeks. Figure that'll cover the $300 travel spend right off the bat.


Be very careful and ensure this will count as a travel expense.  Once upon a time I used points + cash to book an IHG hotel.  I used my Barclaycard so I could erase the charge.  Didn't work b/c while I thought I was paying cash to  for a hotel room what I was really doing was buying points from a third party.  It didn't code with Barclaycard as a "travel" purchase.  Not saying it won't work here b/c Barclaycard isn't Chase.  Just be sure or have a backup plan.

KickingRocks

  • 5 O'Clock Shadow
  • *
  • Posts: 30
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #113 on: August 27, 2016, 05:48:00 PM »
I had a question about rewards in general.  If you book travel through chase directly will they misc 1099 you?  I presume that if you turned the points into cash back they would just didn't know how'd they handle the travel.  In the past all my points have been dropped into my rapid rewards account and I've never had them 1099 for the cost of the free airfare.  I'm actually quite surprised they didn't as sorry as the IRS is.

TomTX

  • Walrus Stache
  • *******
  • Posts: 5345
  • Location: Texas
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #114 on: August 27, 2016, 06:12:54 PM »
I'm not sure what you mean, why wouldn't it be allowed? My county accepts payment for taxes via cc, they just charge you an extra 2.19% - basically passing the merchant fee on to you. Being a cheapass, I usually pay by check because I don't want to pay an extra $40 in fees, but in this situation its worth it.

ETA: OK after rubic's post below I think what you're asking is if prop taxes will be coded as a purchase or cash advance.... All my internetting indicates it is a purchase, I will report back if it doesn't work out this way :)

Paid property taxes last year with the Chase Sapphire Preferred to get the $4k spend. No issues. Paid 2.19% extra to the County.

TomTX

  • Walrus Stache
  • *******
  • Posts: 5345
  • Location: Texas
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #115 on: August 27, 2016, 06:13:17 PM »
I had a question about rewards in general.  If you book travel through chase directly will they misc 1099 you?  I presume that if you turned the points into cash back they would just didn't know how'd they handle the travel.  In the past all my points have been dropped into my rapid rewards account and I've never had them 1099 for the cost of the free airfare.  I'm actually quite surprised they didn't as sorry as the IRS is.

No 1099. It's not income.

johnny847

  • Magnum Stache
  • ******
  • Posts: 3188
    • My Blog
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #116 on: August 27, 2016, 08:42:12 PM »
I had a question about rewards in general.  If you book travel through chase directly will they misc 1099 you?  I presume that if you turned the points into cash back they would just didn't know how'd they handle the travel.  In the past all my points have been dropped into my rapid rewards account and I've never had them 1099 for the cost of the free airfare.  I'm actually quite surprised they didn't as sorry as the IRS is.

No 1099. It's not income.

The IRS has explicitly stated that credit card cash back is a rebate, not income. It reduces the cost basis of items bought to earn the cash back. (This is important because if you were to later sell this item for profit, your cash back in effect becomes taxable).

The IRS has never explicitly said anything about points. The principle remains that it is a rebate, but the issue of how to value them has never, to my knowledge, ever been resolved.

KickingRocks

  • 5 O'Clock Shadow
  • *
  • Posts: 30
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #117 on: August 27, 2016, 08:52:01 PM »
I had a question about rewards in general.  If you book travel through chase directly will they misc 1099 you?  I presume that if you turned the points into cash back they would just didn't know how'd they handle the travel.  In the past all my points have been dropped into my rapid rewards account and I've never had them 1099 for the cost of the free airfare.  I'm actually quite surprised they didn't as sorry as the IRS is.

No 1099. It's not income.

The IRS has explicitly stated that credit card cash back is a rebate, not income. It reduces the cost basis of items bought to earn the cash back. (This is important because if you were to later sell this item for profit, your cash back in effect becomes taxable).

The IRS has never explicitly said anything about points. The principle remains that it is a rebate, but the issue of how to value them has never, to my knowledge, ever been resolved.


Thanks

DTaggart

  • Bristles
  • ***
  • Posts: 264
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #118 on: August 27, 2016, 09:22:42 PM »
I'm not sure what you mean, why wouldn't it be allowed? My county accepts payment for taxes via cc, they just charge you an extra 2.19% - basically passing the merchant fee on to you. Being a cheapass, I usually pay by check because I don't want to pay an extra $40 in fees, but in this situation its worth it.

ETA: OK after rubic's post below I think what you're asking is if prop taxes will be coded as a purchase or cash advance.... All my internetting indicates it is a purchase, I will report back if it doesn't work out this way :)

Paid property taxes last year with the Chase Sapphire Preferred to get the $4k spend. No issues. Paid 2.19% extra to the County.

Good to know, thanks!

HAPPYINAZ

  • Bristles
  • ***
  • Posts: 382
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #119 on: August 28, 2016, 03:59:33 PM »
Thanks for the headsup on this card.  I had just signed up my husband and I for our second Chase Sapphire Preferred before I saw this.  Also had just applied for our second Barclay Arrival card.  But now, after seeing your thread here, I applied and was approved for this Chase Sapphire Reserve card online.  I feel like everyone is just sending me free money for travel!!  Exciting!  I run a couple small businesses and it's pretty easy for us to meet minimum spends without changing our spending at all.  Sweet!  Thanks MMM community!  We have two nephews getting married in New England in Sept and Oct, so will be doing enough travel to take advantage of the $300 travel reward before end of Dec. 

HAPPYINAZ

  • Bristles
  • ***
  • Posts: 382
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #120 on: August 28, 2016, 04:06:00 PM »
Also, for those looking for ways to spend on credit cards, you can fund Kickfurther accounts and Kiva loans, if that interests you.  We just expanded into peer to peer lending to diversify how we invest and it's nice to be able to use credit cards on Kickfurther...you get the miles and the interest back from the loan (assuming they don't default of course).  With Kiva, you loan money but don't get any interest, but you can use a credit card to make the loan and get miles, then they pay back the loan without interest.  It's more of a feel good way to help some people, not an investment strategy, but it does help with credit card spending, if you are at all inclined to do something like those loans.

and most of you know this already, but for those that don't, some banks allow funding of new accounts with credit cards, so you can easily spend some money that way if you find an account that works for you. 

Jet9

  • 5 O'Clock Shadow
  • *
  • Posts: 58
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #121 on: August 28, 2016, 07:20:00 PM »
I'm assuming the Global Entry Application fee ($100) and the travel expenditures that get reimbursed per calendar year ($300) would count toward the $4000 spend, right?

TomTX

  • Walrus Stache
  • *******
  • Posts: 5345
  • Location: Texas
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #122 on: August 29, 2016, 05:25:47 AM »
I'm assuming the Global Entry Application fee ($100) and the travel expenditures that get reimbursed per calendar year ($300) would count toward the $4000 spend, right?

Reddit's answer was "Probably, but it's not explicit, so why take the risk on your 100k points? Don't count it toward your spend."

Side note: Remember being an Authorized User on someone else's card counts against you for 5/24. I had failed to understand this properly before I applied last night and am in the dreaded further review. Wife just dropped me as an AU from her 2 new cards, but I should have waited for it to be processed/propagated fully before putting in the application for CSR.

I had 3 new cards in the past 24 months, + 2 more as an AU = 5/24, which Chase does NOT like.  Fortunately one of my cards drops off in October, so worst case I can reapply then.

MrsDinero

  • Pencil Stache
  • ****
  • Posts: 933
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #123 on: August 29, 2016, 05:33:20 AM »
I'm considering jumping on this offer as I will be able to pay labor and delivery hospital bills with this car.  I'm nervous about jumping on the credit churning ride though.  We will be traveling next year year but I already have 4 cards (zero balance).

TomTX

  • Walrus Stache
  • *******
  • Posts: 5345
  • Location: Texas
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #124 on: August 29, 2016, 05:48:07 AM »
I'm considering jumping on this offer as I will be able to pay labor and delivery hospital bills with this car.  I'm nervous about jumping on the credit churning ride though.  We will be traveling next year year but I already have 4 cards (zero balance).

Chase doesn't like it if you have opened 5 cards within the last 24 months. If your cards are older than that, you can churn quite a bit before Chase gets annoyed.

Note that a bunch of their partner/hotel/co-branded cards can still be churned after you hit 5/24.

ender

  • Walrus Stache
  • *******
  • Posts: 7402
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #125 on: August 29, 2016, 06:33:42 AM »
Just got auto approved online for $18kish.

Going to pay property taxes and some likely medical expenses plus normal spend. The 3x on travel/dining will be sort of nice as well as their expanded portal.


ender

  • Walrus Stache
  • *******
  • Posts: 7402
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #126 on: August 29, 2016, 07:27:29 AM »
Just got auto approved online for $18kish.

Going to pay property taxes and some likely medical expenses plus normal spend. The 3x on travel/dining will be sort of nice as well as their expanded portal.

Hmm I don't imagine our local tax collector lets us use a CC for that! (Also I mailed the check last week.) I'm on the fence on getting this as I'm not sure where I could spend $4k over the next 3 months. $1k on car and landlord insurance. Maybe $2k total gas and groceries. Everything else would be stuff I might not have otherwise purchased.

We can, but have to pay an extra fee of around $80 or so for $3500. Not too bad to easily manufacture most of the required spend for the CSR card.

I'm going to zero (or almost zero) our cash advance amount so it should either get declined or process as a credit card.

We've also got at least one hotel reservation we can do to get towards the $300 calendar year reimbursement and probably will hit more there. I've also had a few transactions weirdly categorized as travel on our CSP (including $100 worth of towing expenses, lol).

Scandium

  • Magnum Stache
  • ******
  • Posts: 2826
  • Location: EastCoast
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #127 on: August 29, 2016, 07:48:03 AM »
Side note: Remember being an Authorized User on someone else's card counts against you for 5/24. I had failed to understand this properly before I applied last night and am in the dreaded further review. Wife just dropped me as an AU from her 2 new cards, but I should have waited for it to be processed/propagated fully before putting in the application for CSR.

I had 3 new cards in the past 24 months, + 2 more as an AU = 5/24, which Chase does NOT like.  Fortunately one of my cards drops off in October, so worst case I can reapply then.

Yeah I just learned this when researching this card. With being AU on my wife's two chase cards last year I'm at 9/24 now! Ouch. Not even going to try for the CSR with that. At new year's I'll be at 7/24 with AU, but 5/24 on my cards and both AU cards are closed so maybe they'll let me through? Still don't know if it's less than 5/24, or up to 5/24.. Otherwise I'll be a year from now, at which point I don't know if this offer will be as great.

I can probably get my wife the CSR though, and combine the 100k with my 70k balance of UR points. And hopefully get myself one next year. I was not aware of the fee for AU on this card, good to know. An annoying practice.

Scandium

  • Magnum Stache
  • ******
  • Posts: 2826
  • Location: EastCoast
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #128 on: August 29, 2016, 07:54:56 AM »
You use the Chase portal to buy airline tickets. In that case, you get a bonus. For example, spend 50k UR points for a ticket worth $750 (with the 50% bonus).

If you find a great deal with X airline, you'd need to find the same deal on the Chase portal.

Just wanted to add to this, as I mentioned above; I had a multi-hop flight with extended layover I found on Google Flights which didn't show up in the search on the Chase portal. I called Chase rewards and the person there was able to book it for me. Took a long time, but in the end I got my flight with points. So maybe I was lucky that one time, but I consider the UR points as good as cash when buying flights. You transfer to United you can only fly United..

ender

  • Walrus Stache
  • *******
  • Posts: 7402
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #129 on: August 29, 2016, 08:26:37 AM »
I can probably get my wife the CSR though, and combine the 100k with my 70k balance of UR points. And hopefully get myself one next year. I was not aware of the fee for AU on this card, good to know. An annoying practice.

To be fair it's probably annoying to them to have people apply for cards, use them for 3 months to get your massive signup bonus, and then cancel them :P

Cwadda

  • Handlebar Stache
  • *****
  • Posts: 2178
  • Age: 29
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #130 on: August 29, 2016, 08:51:27 AM »
You can just get the points and harbor them in a low tier Chase credit card i.e. Chase Freedom account since they're transferrable. The annual fee should be prorated so you'll only pay a few months. Then just close the account and enjoy the points.

JoJo

  • Handlebar Stache
  • *****
  • Posts: 1851
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #131 on: August 29, 2016, 09:36:36 AM »
Impatiently waiting on my card... need to get by Friday to charge about $2000 of vacation expenses next week.  I got approved last Tuesday morning.

geekette

  • Magnum Stache
  • ******
  • Posts: 2550
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #132 on: August 29, 2016, 10:31:34 AM »
My DH's card was approved on Monday, I believe.  It was sent economy UPS and is out for delivery today.  Seems like yours should come in the next day or two.

kitkat

  • 5 O'Clock Shadow
  • *
  • Posts: 85
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #133 on: August 29, 2016, 10:46:33 AM »
My DH's card was approved on Monday, I believe.  It was sent economy UPS and is out for delivery today.  Seems like yours should come in the next day or two.

Can you see when it has been shipped somewhere online?

geekette

  • Magnum Stache
  • ******
  • Posts: 2550
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #134 on: August 29, 2016, 11:12:13 AM »
I signed up years ago for the free version of UPS My Choice so I get an email the day before a package arrives.  Very handy.

JoJo

  • Handlebar Stache
  • *****
  • Posts: 1851
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #135 on: August 29, 2016, 11:12:59 AM »
My DH's card was approved on Monday, I believe.  It was sent economy UPS and is out for delivery today.  Seems like yours should come in the next day or two.

Do you know if you're not home, if they'll leave it.  I've never received a card by UPS before.   Always mail.

geekette

  • Magnum Stache
  • ******
  • Posts: 2550
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #136 on: August 29, 2016, 11:15:22 AM »
AFAIK, they'll leave it for us (although we're home, they usually just drop and run - never even ring the bell).  You have to activate a card, so I don't feel it's unsafe.

ender

  • Walrus Stache
  • *******
  • Posts: 7402
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #137 on: August 29, 2016, 11:17:28 AM »
Sweet. We're unexpectedly going to be gone for a funeral and through labor day, so that'll be good - a new present waiting for us.

I'm assuming the $450 annual fee isn't part of the $4k spend requirement? Do reimbursed travel expenses count - ie if you spend $3.7k normally and $300 in travel, will that count for $4k?

kitkat

  • 5 O'Clock Shadow
  • *
  • Posts: 85
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #138 on: August 29, 2016, 11:27:03 AM »
My DH's card was approved on Monday, I believe.  It was sent economy UPS and is out for delivery today.  Seems like yours should come in the next day or two.

Do you know if you're not home, if they'll leave it.  I've never received a card by UPS before.   Always mail.

Wait, yeah, what the hell! I live in a gated complex and to our great, great, great frustration, only USPS has access to our mail area. Looking into UPS My Choice now, thanks for the tip!

geekette

  • Magnum Stache
  • ******
  • Posts: 2550
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #139 on: August 29, 2016, 11:30:13 AM »
I'm assuming the $450 annual fee isn't part of the $4k spend requirement? Do reimbursed travel expenses count - ie if you spend $3.7k normally and $300 in travel, will that count for $4k?
That's probably safest to assume (but I don't know myself).

mom22boys

  • Stubble
  • **
  • Posts: 180
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #140 on: August 29, 2016, 11:39:11 AM »
I'm assuming the $450 annual fee isn't part of the $4k spend requirement? Do reimbursed travel expenses count - ie if you spend $3.7k normally and $300 in travel, will that count for $4k?
That's probably safest to assume (but I don't know myself).

The annual fee does NOT count toward your $4k spend.  You can find the list if you click the link from the OP and then look at the Offer details.

mrteacher

  • Stubble
  • **
  • Posts: 242
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #141 on: August 29, 2016, 11:56:15 AM »
This is quite the offer!

I have a nuts and bolts question: my fiance and I are planning to take a trip to Europe for our honeymoon summer of 2018. Obviously we would love to fly for free using points. This offer alone might cover us, but I would like to avoid having to pay the $450 annual fee 2x (now and then next year at this time).

Someone on the first page of this thread mentioned "storing" the points on a no fee card. Could I complete this sign-up bonus, transfer the 100,000 points to a no-fee card, and then downgrade or cancel the Sapphire Reserve?

I sometimes hesitate with higher minimum spends since my expenses are super low and I'm not yet comfortable buying Visa gift cards at supermarkets, manufacturing spending, etc.

But, this offer seems like one where it would make sense to try and generate some spending - I am looking into using Plastiq to pay my rent on this card. Seems like a good option.

Jmoody10

  • 5 O'Clock Shadow
  • *
  • Posts: 97
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #142 on: August 29, 2016, 11:59:24 AM »
Someone on the first page of this thread mentioned "storing" the points on a no fee card. Could I complete this sign-up bonus, transfer the 100,000 points to a no-fee card, and then downgrade or cancel the Sapphire Reserve?

Yes - the points are stored with your Chase Account. So you can open a chase freedom (or Preferred card if you want to get the 50k signup there).

ender

  • Walrus Stache
  • *******
  • Posts: 7402
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #143 on: August 29, 2016, 12:02:09 PM »
This is quite the offer!

I have a nuts and bolts question: my fiance and I are planning to take a trip to Europe for our honeymoon summer of 2018. Obviously we would love to fly for free using points. This offer alone might cover us, but I would like to avoid having to pay the $450 annual fee 2x (now and then next year at this time).

Someone on the first page of this thread mentioned "storing" the points on a no fee card. Could I complete this sign-up bonus, transfer the 100,000 points to a no-fee card, and then downgrade or cancel the Sapphire Reserve?

You could do this, but the redemption rate for travel isn't as good on the Freedom or Sapphire card as it is on the Reserve.

Sailor Sam

  • CMTO 2023 Attendees
  • Walrus Stache
  • *
  • Posts: 5731
  • Age: 43
  • Location: Steel Beach
  • Semper...something
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #144 on: August 29, 2016, 01:24:37 PM »
In the terms, I see
Quote
each additional card: $75 per year.
Does that mean if you add an Authorized User (i.e. my wife) that you pay an additional $75?
Yes.


For people wondering how fast the card comes, my account was authorized on Thursday, and I got the card today.

Edit: typo

erutio

  • Pencil Stache
  • ****
  • Posts: 717
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #145 on: August 29, 2016, 01:34:31 PM »
Someone on the first page of this thread mentioned "storing" the points on a no fee card. Could I complete this sign-up bonus, transfer the 100,000 points to a no-fee card, and then downgrade or cancel the Sapphire Reserve?

Yes - the points are stored with your Chase Account. So you can open a chase freedom (or Preferred card if you want to get the 50k signup there).

Yes, you can "store" the points.  However, if you cancel the Reserve card, you will lose the 1.5x redemption tier for UR points.  It would be 1x for chase freedom, 1.25x for sapphire preferred. 

You could also "store" the points for a few years in a no-annual fee card, and then re-apply for the Reserve, to get back into the 1.5x redemption tier again.

geekette

  • Magnum Stache
  • ******
  • Posts: 2550
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #146 on: August 29, 2016, 01:52:48 PM »
The CSR card came via UPS, and there's no sticker to activate.  Really?

Also, I'm not an authorized user, but I'll still probably take it to the grocery store.  I rarely buy enough to need to sign, anyway.

eta:  Already paid for our cruise, and it shows up online, so yeah, no activation.  Very odd.
« Last Edit: August 29, 2016, 02:24:43 PM by geekette »

Rubic

  • Handlebar Stache
  • *****
  • Posts: 1130
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #147 on: August 29, 2016, 02:48:48 PM »
Blah - that's annoying as it makes it that much harder for me to target a $4k spend (i.e. can't give a card to my wife to use for groceries/gas OR I have to pay the $75.)

Use your Chase card to purchase grocery/gas gift cards for your spouse.  She
can then use these to make her in-store purchases.

Also, if you're close the your 3-month minimum spend window, you can just
purchase additional gift cards that you'll use in months 4, 5, ... etc.


katsiki

  • Handlebar Stache
  • *****
  • Posts: 2015
  • Age: 43
  • Location: La.
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #148 on: August 29, 2016, 03:27:51 PM »
The CSR card came via UPS, and there's no sticker to activate.  Really?

Also, I'm not an authorized user, but I'll still probably take it to the grocery store.  I rarely buy enough to need to sign, anyway.

eta:  Already paid for our cruise, and it shows up online, so yeah, no activation.  Very odd.

There are reports that the cards coming by UPS are pre-activated.  Seems very risky to me since UPS leaves packages in many places, but apparently Chase does this normally.

katsiki

  • Handlebar Stache
  • *****
  • Posts: 2015
  • Age: 43
  • Location: La.
Re: Chase Sapphire Reserve; 100,000 points signup bonus
« Reply #149 on: August 29, 2016, 03:29:04 PM »
Also, if you're close the your 3-month minimum spend window, you can just
purchase additional gift cards that you'll use in months 4, 5, ... etc.

This may be a dumb question...  I keep seeing people say things like this in this thread.  Are you turning around and paying cash to avoid interest charges?  There is no intro APR period from what I recall of the terms.