Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

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drk
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by drk »

Da5id wrote: Fri Oct 08, 2021 9:35 am While I'm mostly with you and am personally downgrading to CSP, for most people the $300 travel credit is really pretty close to $300. It is painless (in that it happens automatically). It is pretty broad, for example covering rapid transit and EZ pass in addition to other travel costs. Even for you where you have cards that pay back more, the $300 presumably swamps the extra you get from the percentage. e.g. if you use the US Bank Altitude Reserve to get an extra 1.5% back you get an extra $4.50 on the $300 purchased. So it is worth about $295.50? Not saying it is a good card for you (or me), just that for most people the $300 travel credits is generally close to $300 value. I agree other benefits (dashpass, Priority Pass, etc) are much more variable and hard to value.
US Bank AR has a $400 AF and a $325 travel credit, and you actually earn 3x on purchases reimbursed by the credit as opposed to 0x for CSR. The CSR's credit absolutely needs a discount compared to travel spend on the AR.
Last edited by drk on Fri Oct 08, 2021 10:25 am, edited 1 time in total.
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Jags4186
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by Jags4186 »

Da5id wrote: Fri Oct 08, 2021 9:35 am
Jags4186 wrote: Fri Oct 08, 2021 7:27 am The Reserve is a really hard sell these days.
...
Just easier to pay $95 and be done with it rather than muck around with travel credits (which I don't assign a $300 value to) and Doordash and whatever else.
While I'm mostly with you and am personally downgrading to CSP, for most people the $300 travel credit is really pretty close to $300. It is painless (in that it happens automatically). It is pretty broad, for example covering rapid transit and EZ pass in addition to other travel costs. Even for you where you have cards that pay back more, the $300 presumably swamps the extra you get from the percentage. e.g. if you use the US Bank Altitude Reserve to get an extra 1.5% back you get an extra $4.50 on the $300 purchased. So it is worth about $295.50? Not saying it is a good card for you (or me), just that for most people the $300 travel credits is generally close to $300 value. I agree other benefits (dashpass, Priority Pass, etc) are much more variable and hard to value.
Well, at most it’s worth $286.50 because you are forgoing 900 UR points worth at least $13.50 since those $300 in purchases don’t earn rewards. Depending on what you end up using it on, you may have been able to do even better.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by Da5id »

Jags4186 wrote: Fri Oct 08, 2021 10:25 am
Da5id wrote: Fri Oct 08, 2021 9:35 am
Jags4186 wrote: Fri Oct 08, 2021 7:27 am The Reserve is a really hard sell these days.
...
Just easier to pay $95 and be done with it rather than muck around with travel credits (which I don't assign a $300 value to) and Doordash and whatever else.
While I'm mostly with you and am personally downgrading to CSP, for most people the $300 travel credit is really pretty close to $300. It is painless (in that it happens automatically). It is pretty broad, for example covering rapid transit and EZ pass in addition to other travel costs. Even for you where you have cards that pay back more, the $300 presumably swamps the extra you get from the percentage. e.g. if you use the US Bank Altitude Reserve to get an extra 1.5% back you get an extra $4.50 on the $300 purchased. So it is worth about $295.50? Not saying it is a good card for you (or me), just that for most people the $300 travel credits is generally close to $300 value. I agree other benefits (dashpass, Priority Pass, etc) are much more variable and hard to value.
Well, at most it’s worth $286.50 because you are forgoing 900 UR points worth at least $13.50 since those $300 in purchases don’t earn rewards. Depending on what you end up using it on, you may have been able to do even better.
I believe it is a matter of perspective. If I purchase a $300 ticket with CSR and get it fully reimbursed, I get a $300 service for $0. I think that is a $300 benefit from my way of thinking about it. Honestly, it isn't a big deal even if your way of thinking about it is better. Whether the $550 card is worth it doesn't hinge on the $13.50 difference you are saying is there. It is more whether the other benefits make it a good deal. They did for me at $450, they no longer do for me at $550.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by Jags4186 »

Da5id wrote: Fri Oct 08, 2021 12:11 pm
Jags4186 wrote: Fri Oct 08, 2021 10:25 am
Da5id wrote: Fri Oct 08, 2021 9:35 am
Jags4186 wrote: Fri Oct 08, 2021 7:27 am The Reserve is a really hard sell these days.
...
Just easier to pay $95 and be done with it rather than muck around with travel credits (which I don't assign a $300 value to) and Doordash and whatever else.
While I'm mostly with you and am personally downgrading to CSP, for most people the $300 travel credit is really pretty close to $300. It is painless (in that it happens automatically). It is pretty broad, for example covering rapid transit and EZ pass in addition to other travel costs. Even for you where you have cards that pay back more, the $300 presumably swamps the extra you get from the percentage. e.g. if you use the US Bank Altitude Reserve to get an extra 1.5% back you get an extra $4.50 on the $300 purchased. So it is worth about $295.50? Not saying it is a good card for you (or me), just that for most people the $300 travel credits is generally close to $300 value. I agree other benefits (dashpass, Priority Pass, etc) are much more variable and hard to value.
Well, at most it’s worth $286.50 because you are forgoing 900 UR points worth at least $13.50 since those $300 in purchases don’t earn rewards. Depending on what you end up using it on, you may have been able to do even better.
I believe it is a matter of perspective. If I purchase a $300 ticket with CSR and get it fully reimbursed, I get a $300 service for $0. I think that is a $300 benefit from my way of thinking about it. Honestly, it isn't a big deal even if your way of thinking about it is better. Whether the $550 card is worth it doesn't hinge on the $13.50 difference you are saying is there. It is more whether the other benefits make it a good deal. They did for me at $450, they no longer do for me at $550.
Yes, from my perspective if you purchase a ticket for $300 on the CSR and get fully reimbursed, you got $300 service for $550. This is all a game to me, so yes, obsessing about $13.50 is part of the fun!
Da5id
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by Da5id »

Jags4186 wrote: Fri Oct 08, 2021 1:22 pm Yes, from my perspective if you purchase a ticket for $300 on the CSR and get fully reimbursed, you got $300 service for $550. This is all a game to me, so yes, obsessing about $13.50 is part of the fun!
Your perspective is quite wrong for most people I'd assume. It charges the full fee of CSR against the travel reimbursement benefit, and accordingly values the remainder of the CSRs benefits as exactly $0. I doubt most people would see it that way, but you do you.

Obsessing about $13.50 in this context is also to me odd relative to the total dollars involved, but again you do you.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by AnnetteLouisan »

I just have a few debit cards and the traditional Amex Green charge card at $55 / yr (grandfathered) and it works fine for my purposes. I used to have some airline/hotel memberships but I travel very rarely these days. I have no rewards, miles or other such things anymore. Even my latte loyalty card has bern used up. Helps keep costs low to not have the friction between want and spend greased by incentive miles etc.
Last edited by AnnetteLouisan on Fri Oct 08, 2021 9:13 pm, edited 1 time in total.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by Da5id »

AnnetteLouisan wrote: Fri Oct 08, 2021 8:45 pm I just have a few debit cards and the traditional Amex Green charge card at $55 / yr (grandfathered) and it works fine for my purposes. I used to have some airline/hotel memberships but I travel very rarely these days. I have no rewards, miles or other such things anymore. Even my latte loyalty card has bern used up. Helps keep costs low to not have the friction between want and spend greased by incentive miles etc.

Please, respectfully, dont tell me how great the incentives are. I’m well aware and I’ve had these discussions.
Who are you addressing with your request that people not discuss this card? It is fine to not use this card or any card at all. But asking people to not discuss Chase Sapphire Reserve's incentives and whether a renewal is worthwhile in a thread specifically on that very topic seems rather odd to me. This is your first post in this thread, isn't it? Nobody is telling you, specifically, what to do at all.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by AnnetteLouisan »

Da5id wrote: Fri Oct 08, 2021 8:57 pm
AnnetteLouisan wrote: Fri Oct 08, 2021 8:45 pm I just have a few debit cards and the traditional Amex Green charge card at $55 / yr (grandfathered) and it works fine for my purposes. I used to have some airline/hotel memberships but I travel very rarely these days. I have no rewards, miles or other such things anymore. Even my latte loyalty card has bern used up. Helps keep costs low to not have the friction between want and spend greased by incentive miles etc.

Please, respectfully, dont tell me how great the incentives are. I’m well aware and I’ve had these discussions.
Who are you addressing with your request that people not discuss this card? It is fine to not use this card or any card at all. But asking people to not discuss Chase Sapphire Reserve's incentives and whether a renewal is worthwhile in a thread specifically on that very topic seems rather odd to me. This is your first post in this thread, isn't it? Nobody is telling you, specifically, what to do at all.
No, I didn’t mean that at all, sorry if I was unclear. Of course any topic is fine, including the merits of Sapphire Rewards or any other card.

I meant merely, for that infinetesimal subset of people on this thread who might want to do so, kindly don’t jump on me individually in response to my comment that I don’t use rewards cards. They are fine, I just don’t use them. Whenever I mention that people tell me what I’m missing out on and I wanted to spare them the trouble. But certainly, they are free to comment on that or anything else. And yes, this is my first comment on this thread and I didn’t read the discussion to date, just the OP.

I edited the comment out since I agree it was unclear as to whom I meant.
Last edited by AnnetteLouisan on Fri Oct 08, 2021 9:15 pm, edited 2 times in total.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by DiMAn0684 »

AF on my CSR posted Oct 1, and I'll most likely be downgrading it to a Freedom card. I've converted ~80% of my URs into $ via Pay Yourself Back, and left a low 6-figure balance just in case. Going to spend time earning more URs and then go for another Sapphire card + bonus. Two features I'll 'miss' most is Priority Pass and primary insurance on the rentals. I have an option of asking a friend to add me as an AU on their card for Priority Pass @ $75. Have not figured out what to do about rental insurance, but have no immediate plans to rent a car, so not worth paying $175 ($250 - $75) for the benefit I am not sure I'll use.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by Da5id »

DiMAn0684 wrote: Fri Oct 08, 2021 9:13 pm AF on my CSR posted Oct 1, and I'll most likely be downgrading it to a Freedom card. I've converted ~80% of my URs into $ via Pay Yourself Back, and left a low 6-figure balance just in case. Going to spend time earning more URs and then go for another Sapphire card + bonus. Two features I'll 'miss' most is Priority Pass and primary insurance on the rentals. I have an option of asking a friend to add me as an AU on their card for Priority Pass @ $75. Have not figured out what to do about rental insurance, but have no immediate plans to rent a car, so not worth paying $175 ($250 - $75) for the benefit I am not sure I'll use.
Some people are getting the retention bonus. So if it is worth it to you at $400 or $450 give them a call and see. I wasn't offered a bonus despite having the card for 5 years, presumably they have some internal criteria that I didn't meet. My call to them did take a while on hold, feels like customer service is getting worse everywhere these days.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by Da5id »

Da5id wrote: Thu Oct 07, 2021 3:23 pm
drk wrote: Thu Oct 07, 2021 2:53 pm
EnjoyIt wrote: Thu Oct 07, 2021 1:32 pm If one was to downgrade from the reserve to a freedom card, how long must one wait to get the preferred card?
"A few days" is what the anecdata suggest.
Earlier this week I cancelled my CSR. Two days later I tried and was denied. I called the reconsideration line, and they said that the reason for the denial was still showing a Sapphire card in the system they have. And that it takes a while for a cancelled Sapphire to propagate to their system. This person said "could take a billing cycle". So I'll wait a bit, though per the article you linked I guess may not need *that* long.
As more data, I was approved for a CSP 14 days after I cancelled my CSR. Sadly only 60K points instead of the 100K I'd have gotten before the deal changed tho.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by portfolio123 »

Wife and I both have the Reserve. Were told that even though we were both recently charged the annual fee, if one of us downgrades, we would be pro-rata reimbursed the annual fee for the part of the year we didn't use the card. Assume this has happened with others? Did your points on the Reserve just transfer to the new card? We plan to add the other person as a authorized user on the Reserve card we keep.

Does downgrading affect your credit score?
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by rjbraun »

My annual fee posted on Oct 1; no retention offer, either. I apparently have a couple of days left where I could still cancel my CSR and get the entire annual fee refunded. That said, while I was totally prepared to cancel I am having second thoughts now.

My Global Entry is up for renewal November 2022. Assuming I renew Global Entry between now and the first half of 2022, that will cost $100. My understanding is that I could get a $100 statement credit to my CSR. Assuming Door Dash still offers a $60 statement credit and that I can find a way to use the $300 statement credit for travel, that would seem to bring the $550 annual fee down to $90.

Does this sound right?
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by Da5id »

rjbraun wrote: Mon Nov 08, 2021 9:05 pm My annual fee posted on Oct 1; no retention offer, either. I apparently have a couple of days left where I could still cancel my CSR and get the entire annual fee refunded. That said, while I was totally prepared to cancel I am having second thoughts now.

My Global Entry is up for renewal November 2022. Assuming I renew Global Entry between now and the first half of 2022, that will cost $100. My understanding is that I could get a $100 statement credit to my CSR. Assuming Door Dash still offers a $60 statement credit and that I can find a way to use the $300 statement credit for travel, that would seem to bring the $550 annual fee down to $90.

Does this sound right?
I don't believe that Door dash credit is a thing the second year. Unless unless you really like CSR features, getting a new card with a signup bonus may make more sense. E.g. I cancelled CSR and got the CSP with a signup bonus, though you need to qualify to do that.

I wonder how much attrition they are having, it is less attractive at $550.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by e5116 »

I'm keeping it although my wife downgraded and then applied for CSP (for 100k signup bonus). For the life of me, it's basically impossible nowadays to get great airfare redemptions on economy tickets almost universally. So, I actually find the 1.5 cents via pay yourself back or via booking travel on the Chase portal (which counts as a revenue ticket according to the airline and gets me frequent miles) to usually be a better use of points. I have like 300,000 United miles and constantly want to redeem but always find better cash fares. The dynamic award pricing really has made those currencies less valuable and I find them typically more like 1.1 cents/point. Yes, get more if doing business/first, but i don't value those at the cash price as would never pay those outrageous amounts on my own.

So, I like the benefits and the redemption for now, so worth having one per household.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by rjbraun »

Da5id wrote: Mon Nov 08, 2021 9:14 pm
rjbraun wrote: Mon Nov 08, 2021 9:05 pm My annual fee posted on Oct 1; no retention offer, either. I apparently have a couple of days left where I could still cancel my CSR and get the entire annual fee refunded. That said, while I was totally prepared to cancel I am having second thoughts now.

My Global Entry is up for renewal November 2022. Assuming I renew Global Entry between now and the first half of 2022, that will cost $100. My understanding is that I could get a $100 statement credit to my CSR. Assuming Door Dash still offers a $60 statement credit and that I can find a way to use the $300 statement credit for travel, that would seem to bring the $550 annual fee down to $90.

Does this sound right?
I don't believe that Door dash credit is a thing the second year. Unless unless you really like CSR features, getting a new card with a signup bonus may make more sense. E.g. I cancelled CSR and got the CSP with a signup bonus, though you need to qualify to do that.

I wonder how much attrition they are having, it is less attractive at $550.
Thank you - yeah, I also didn't find anything about a Door Dash credit when I checked now.

No, I can't really say I like the CSR features so much now that we're not really traveling. I would be willing to pay maybe $100 or so for a couple of things that have the potential to come in handy, such as insurance benefits on some travel or auto rentals, but at this point it's not worth a couple of hundred bucks.

I guess now I just need to decide if I'm going to product change to one of the no-fee options or to to CSP. But the latter would mean I forego a signup bonus. If I product change to a no-fee card, could I then potentially apply for a CSP with signup bonus later? I realize that the signup bonus amount can change.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by Da5id »

rjbraun wrote: Mon Nov 08, 2021 10:07 pm
Da5id wrote: Mon Nov 08, 2021 9:14 pm
rjbraun wrote: Mon Nov 08, 2021 9:05 pm My annual fee posted on Oct 1; no retention offer, either. I apparently have a couple of days left where I could still cancel my CSR and get the entire annual fee refunded. That said, while I was totally prepared to cancel I am having second thoughts now.

My Global Entry is up for renewal November 2022. Assuming I renew Global Entry between now and the first half of 2022, that will cost $100. My understanding is that I could get a $100 statement credit to my CSR. Assuming Door Dash still offers a $60 statement credit and that I can find a way to use the $300 statement credit for travel, that would seem to bring the $550 annual fee down to $90.

Does this sound right?
I don't believe that Door dash credit is a thing the second year. Unless unless you really like CSR features, getting a new card with a signup bonus may make more sense. E.g. I cancelled CSR and got the CSP with a signup bonus, though you need to qualify to do that.

I wonder how much attrition they are having, it is less attractive at $550.
Thank you - yeah, I also didn't find anything about a Door Dash credit when I checked now.

No, I can't really say I like the CSR features so much now that we're not really traveling. I would be willing to pay maybe $100 or so for a couple of things that have the potential to come in handy, such as insurance benefits on some travel or auto rentals, but at this point it's not worth a couple of hundred bucks.

I guess now I just need to decide if I'm going to product change to one of the no-fee options or to to CSP. But the latter would mean I forego a signup bonus. If I product change to a no-fee card, could I then potentially apply for a CSP with signup bonus later? I realize that the signup bonus amount can change.
You can cancel CSR then wait a bit and apply to CSP for a bonus. I did that last month. But you need to qualify both under 5/24 rule and the no CSR or CSP bonus received in last 48 months rule to get the bonus.
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anon_investor
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by anon_investor »

rjbraun wrote: Mon Nov 08, 2021 10:07 pm If I product change to a no-fee card, could I then potentially apply for a CSP with signup bonus later? I realize that the signup bonus amount can change.
You can do this. Think you have to wait a little bit for Chase's systems to code you as no longer having a Sapphire tier CC, since you can't have more than one. I have a few family members downgrade the CSR to the Freedom Unlimited, then apply for the CSP and get the sign up bonus (but they had their CSR for 4+ years). They applied at a Chase branch to get the 100k bonus and have the annual fee waived for the first year. I am not sure what the current bonus is.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by MnD »

We definitely use 100% of the travel credit within a month or two of the annual rollover, the door dash deal and the global entry fee refund. The rental car primary insurance is nice. We use a combination of CSR, CF and CFU to optimize points earned (average about 3%), then move all points to CSR typically used for pay yourself back or points travel through the Chase portal, adding another 1.5X for ~4.5% overall. About 300K points per year which translates to around $4500.

I'm sure there are more complicated/better systems and we could certainly be doing more on sign-up bonuses (the $300 and 5% grocery on CFU for a year was the last one we did). But we don't even have to think about our 3-card system anchored with the CSR we've been doing it so long.

On the quirky side CSR also just mailed me a gift box containing a curated selection of 3 small bottles of champagne - 187ml each and a glass.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by MikeG62 »

May want to be mindful if considering cancelling the card and you've paid any refundable deposits with the card in the past for trips that have not occurred yet. More specifically, consider the process of getting the refund paid back to you if the original method of payment used for the deposit is no longer active (no longer exists)?

Came upon a similar situation with a hotel deposit I paid with my CSR card back in Dec of 2020. In my case, I did not cancel the card, but the card had been compromised since I paid the deposit and a new card (new card #) was since issued . When I contacted the hotel recently about cancelling the trip and returning the deposit, they would "only" credit back the card number used for the original form of payment. Would not accept the replacement CC # for the credit.

Was a bit worried, so, I called Chase to see what was going to happen. It turns out this was a non-issue for me since Chase retains the former/old CC #'s in their system (associated with the current CC #) so any credit going back to the old (and no longer active) CC # simply posts to the new CC account.

Query how this would have worked had I cancelled that card when I was faced with renewal?
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by HopeToRetireSoon »

After some deliberation, I downgraded my Sapphire Reserve to a Freedom Unlimited two months ago. I'd had it since 2016, but couldn't justify the increased annual fee based on the benefits I routinely use. I did request a retention offer from Chase, but wasn't offered anything. As part of the process, I upgraded my Chase Ink Cash card to an Ink Preferred to preserve the ability to transfer UR points to airlines and to continue earning 3X points on travel charges. (My wife has an Amex Platinum, which include Priority Pass airport lounge access (among others), else I probably would have kept the CSR open.) I also have a Chase United card that provides primary rental car insurance. I still think the Reserve is a fine card...I just couldn't justify keeping it based on the increased cost and availability of most benefits through other cards we hold.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by rich126 »

HopeToRetireSoon wrote: Tue Nov 09, 2021 8:51 am After some deliberation, I downgraded my Sapphire Reserve to a Freedom Unlimited two months ago. I'd had it since 2016, but couldn't justify the increased annual fee based on the benefits I routinely use. I did request a retention offer from Chase, but wasn't offered anything. As part of the process, I upgraded my Chase Ink Cash card to an Ink Preferred to preserve the ability to transfer UR points to airlines and to continue earning 3X points on travel charges. (My wife has an Amex Platinum, which include Priority Pass airport lounge access (among others), else I probably would have kept the CSR open.) I also have a Chase United card that provides primary rental car insurance. I still think the Reserve is a fine card...I just couldn't justify keeping it based on the increased cost and availability of most benefits through other cards we hold.
The Ink cards are business cards. Chase had no issues with upgrading one ?
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by HopeToRetireSoon »

duplicate
Last edited by HopeToRetireSoon on Tue Nov 09, 2021 11:43 am, edited 1 time in total.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by inverter »

MnD wrote: Tue Nov 09, 2021 7:38 am On the quirky side CSR also just mailed me a gift box containing a curated selection of 3 small bottles of champagne - 187ml each and a glass.
That's a nice touch! Are you an original cardholder from Aug 2016?
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by HopeToRetireSoon »

rich126 wrote: Tue Nov 09, 2021 9:02 am
HopeToRetireSoon wrote: Tue Nov 09, 2021 8:51 am After some deliberation, I downgraded my Sapphire Reserve to a Freedom Unlimited two months ago. I'd had it since 2016, but couldn't justify the increased annual fee based on the benefits I routinely use. I did request a retention offer from Chase, but wasn't offered anything. As part of the process, I upgraded my Chase Ink Cash card to an Ink Preferred to preserve the ability to transfer UR points to airlines and to continue earning 3X points on travel charges. (My wife has an Amex Platinum, which include Priority Pass airport lounge access (among others), else I probably would have kept the CSR open.) I also have a Chase United card that provides primary rental car insurance. I still think the Reserve is a fine card...I just couldn't justify keeping it based on the increased cost and availability of most benefits through other cards we hold.
The Ink cards are business cards. Chase had no issues with upgrading one ?
No, I’d had that Ink card for 4-5 years. It was just a quick phone call to upgrade it.
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by MnD »

inverter wrote: Tue Nov 09, 2021 11:39 am
MnD wrote: Tue Nov 09, 2021 7:38 am On the quirky side CSR also just mailed me a gift box containing a curated selection of 3 small bottles of champagne - 187ml each and a glass.
That's a nice touch! Are you an original cardholder from Aug 2016?
Yes.
70/30 AA for life, Global market cap equity. Rebalance if fixed income <25% or >35%. Weighted ER< .10%. 5% of annual portfolio balance SWR, Proportional (to AA) withdrawals.
MrCheapo
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Consumer warranty plan is great

Post by MrCheapo »

Hi,

Bought an oven for $3K. 14 months in it blew up. The warranty claim was successful for $3K PLUS the $400 installation fee. That was way beyond what I expected. They didn't try to pro-rata the pay out or even make me jump through hoops. One technical said it was not repairable and I had my check 1 week later.

I'm not sure if this was due to be having a CSR or any Chase card would have receive the same benefit.
BeneIRA
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by BeneIRA »

I haven't heard about the DoorDash credit or the DashPass getting extended. It was only $60, but I did use it every year and the DashPass benefits were nice on the margins.
DiMAn0684
Posts: 325
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by DiMAn0684 »

Downgraded CSR to CFF today. Will sit on sidelines for a bit, see what Chase does in response to Cap1's Venture X.
Da5id
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by Da5id »

DiMAn0684 wrote: Tue Nov 09, 2021 8:13 pm Downgraded CSR to CFF today. Will sit on sidelines for a bit, see what Chase does in response to Cap1's Venture X.
Venture X seems kind of interesting. But $10K spend for the signup bonus is on the high side for me. Having to pay fees to use the card to pay for taxes and such makes the bonus worth rather less.
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Prokofiev
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by Prokofiev »

BeneIRA wrote: Tue Nov 09, 2021 7:29 pm I haven't heard about the DoorDash credit or the DashPass getting extended. It was only $60, but I did use it every year and the DashPass benefits were nice on the margins.
We were told that the $60 DoorDash credit would be extended in 2022 when my girlfriend called to cancel. I don't see that anywhere in writing,
only over the phone. The $150 retention discount was received as promised about 6 weeks later, so I am hopeful the $60 will be there as well.

Earlier this year, when I canceled my Reserve card nothing was offered nothing. So YMMV
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smectym
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by smectym »

totallynotsure wrote: Sun Aug 02, 2020 12:25 pm or doing a product change due to the increased annual fee?

if so, what is your approach? what card will you be replacing it with?
Have to cancel AMEX Platinum first.

There’s a lot of smoke and mirrors with these cards. On the other hand, spouse has managed some seemingly great hotel and flight deals by leveraging the points and the concierge services and so on.

Every time I propose to cancel one of these premium fee cards, there seems to be one more reason why we should wait.

Pulling the plug on them all has its nihilistic appeal. But if we get some cognizable benefits, and it ends up that we’re quibbling about a net $50 a year or so…really, who cares
MBB_Boy
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by MBB_Boy »

Looks like they update the benefits of the card - noticed some new information in the mailer they just sent me recapping how much I've earned this year.

I picked up the new US Bank cards to get 4% back on travel and dining in anticipation of cancelling my CSR (I'm an original cardholder), but now I have to pause for a minute.

New benefits:
1. Earns 5x on flights when using the Chase portal (which is basically Expedia)
2. 10x points on hotels and car rentals when using the portal
3. 10x points when using Chase dining for prepaid restaurant reservations or ordering takeout

#1 is intriguing - comes out to 7.5% in points (using portal, could vary if you transfer points instead). That's way better than 4% on the Altitude Go.

#2 I'm unsure about - great value at 15%, but at this stage we are typically using points for hotel stays, and wary about not getting status benefits. It's never been a problem so far, but that obviously isn't guaranteed. If we stay anywhere but Marriott this is obviously good, but we've been AirBnB or Marriott / SPG for a long time. Compares against the 4% of the Altitude Connect ($95 fee)

I don't place any value on #3 - the limitation for "prepaid reservations" excludes basically everything. We don't order takeout.

So have to think about this - we renew this month, so will obviously spend the travel credits first. Wife got the CSP again this year for the bonus, so could just cancel mine and upgrade hers so I become eligible for another Sapphire bonus - but we should probably do that even if we don't decide to keep a CSR, right?
BeneIRA
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by BeneIRA »

Prokofiev wrote: Tue Nov 09, 2021 10:13 pm
BeneIRA wrote: Tue Nov 09, 2021 7:29 pm I haven't heard about the DoorDash credit or the DashPass getting extended. It was only $60, but I did use it every year and the DashPass benefits were nice on the margins.
We were told that the $60 DoorDash credit would be extended in 2022 when my girlfriend called to cancel. I don't see that anywhere in writing,
only over the phone. The $150 retention discount was received as promised about 6 weeks later, so I am hopeful the $60 will be there as well.

Earlier this year, when I canceled my Reserve card nothing was offered nothing. So YMMV
That would be breaking news if true. Very good breaking news.
DiMAn0684
Posts: 325
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by DiMAn0684 »

Da5id wrote: Tue Nov 09, 2021 8:54 pm
DiMAn0684 wrote: Tue Nov 09, 2021 8:13 pm Downgraded CSR to CFF today. Will sit on sidelines for a bit, see what Chase does in response to Cap1's Venture X.
Venture X seems kind of interesting. But $10K spend for the signup bonus is on the high side for me. Having to pay fees to use the card to pay for taxes and such makes the bonus worth rather less.
$10k in 6 month, could open now, spend as much as you can and hit the rest of the min spend in April via tax payment.
MBB_Boy wrote: Wed Nov 10, 2021 7:56 am 1. Earns 5x on flights when using the Chase portal (which is basically Expedia)
FYI, Chase seems to have gone back to using cxLoyalty (which they acquired now), instead of Expedia. That's the vendor they used up until ~2018.
rich126
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by rich126 »

MBB_Boy wrote: Wed Nov 10, 2021 7:56 am Looks like they update the benefits of the card - noticed some new information in the mailer they just sent me recapping how much I've earned this year.

I picked up the new US Bank cards to get 4% back on travel and dining in anticipation of cancelling my CSR (I'm an original cardholder), but now I have to pause for a minute.

New benefits:
1. Earns 5x on flights when using the Chase portal (which is basically Expedia)
2. 10x points on hotels and car rentals when using the portal
3. 10x points when using Chase dining for prepaid restaurant reservations or ordering takeout

#1 is intriguing - comes out to 7.5% in points (using portal, could vary if you transfer points instead). That's way better than 4% on the Altitude Go.

#2 I'm unsure about - great value at 15%, but at this stage we are typically using points for hotel stays, and wary about not getting status benefits. It's never been a problem so far, but that obviously isn't guaranteed. If we stay anywhere but Marriott this is obviously good, but we've been AirBnB or Marriott / SPG for a long time. Compares against the 4% of the Altitude Connect ($95 fee)

I don't place any value on #3 - the limitation for "prepaid reservations" excludes basically everything. We don't order takeout.

So have to think about this - we renew this month, so will obviously spend the travel credits first. Wife got the CSP again this year for the bonus, so could just cancel mine and upgrade hers so I become eligible for another Sapphire bonus - but we should probably do that even if we don't decide to keep a CSR, right?
Personally any time I'm required to use someone's portal I view that as a big negative. I seem to recall a ton of complaints about Expedia and Chase's portal when it came to canceling trips during covid. While tons of people had issues with airlines and other travel places it seemed like the portals and places like Expedia had even more issues.
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Da5id
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by Da5id »

rich126 wrote: Thu Nov 11, 2021 6:21 am Personally any time I'm required to use someone's portal I view that as a big negative. I seem to recall a ton of complaints about Expedia and Chase's portal when it came to canceling trips during covid. While tons of people had issues with airlines and other travel places it seemed like the portals and places like Expedia had even more issues.
I agree, dedicated portals are a negative. I preferred transferring points from UR to partners using CSR ability to do that.
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beyou
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling?

Post by beyou »

drummerboy wrote: Sun Aug 02, 2020 6:29 pm Downgrading ours to a Freedom card when it comes up for renewal in November. BofA Premium Rewards is turning out to be much more lucrative.

I wish the CSR would keep the 5% on Groceries forever. That would change my mind.
Easy to downgrade ?
Any remaining points go with you or have to “spend” them before downgrade ?
Da5id
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Re: Any Chase Sapphire Reserve cardholders planning on cancelling? [annual fee increasing]

Post by Da5id »

DiMAn0684 wrote: Wed Nov 10, 2021 9:51 pm
Da5id wrote: Tue Nov 09, 2021 8:54 pm
DiMAn0684 wrote: Tue Nov 09, 2021 8:13 pm Downgraded CSR to CFF today. Will sit on sidelines for a bit, see what Chase does in response to Cap1's Venture X.
Venture X seems kind of interesting. But $10K spend for the signup bonus is on the high side for me. Having to pay fees to use the card to pay for taxes and such makes the bonus worth rather less.
$10k in 6 month, could open now, spend as much as you can and hit the rest of the min spend in April via tax payment.
Still finishing up spend on CSP that I just got. But maybe. I often get another card in the spring when my auto insurance is due, as I get a discount for prepaying in full the whole year's premium. And my global entry needs renewal in 2022, so that credit is something I'm looking for in my next card anyway.
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