The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking • Hacker News Board

Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking

#51

Post by atupem » Wed, Jan 03, 2018, 11:40 AM UTC

mehrdadn wrote: post #48

mter wrote: post #38

Earlier quoted context omitted.

Restaurants/travel are 3x points and transfer easily to airline partners. The travel bonus is $300 dollars and incredibly easy to get (uber/toll/planes/whatever all count) making the card effectively 150 dollars a month if you do any sort of travel. Add in free priority pass and it's easily the best restaurant/travel card around. With a few thousand in spend for restaurants/travel, it's trivial to exceed the 150 annu…

> Restaurants/travel are 3x points and transfer easily to airline partners. Have you actually done the math? 3 points/$1 and each point at an airline is generally worth around 1.5 cents, so it's equivalent to getting maybe 5% cash back at restaurants. Compare this to the Uber card where you get 4% cash back on dining. For the 1% to break even with the $450 annual fee - $150 credit = $300 net, you need to average at l…

Correct me if I'm wrong...

$450 renewal fee, $300 annual travel credit, so the card costs $150 per year.

With points valued at $0.015, you need to earn 10,000 points to break even (150/0.015).

You get 3 points for every $1 spent on food/travel, so you need to spend $3,333/year on those categories to break even. Personally I spend way more, so the card is definitely worth it to me.

Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking

#52

Post by didgeoridoo » Wed, Jan 03, 2018, 12:33 PM UTC

dang wrote: post #30

didgeoridoo wrote: post #4

So she’s a marketing genius for selling $2300 of rewards for $450? (100k points at around $0.02 per point [0] plus $300 of travel credit) Also, you had to go on a “listening tour” to discover that wealthy young professionals enjoy traveling and eating at restaurants? [0]: https://thepointsguy.com/2015/03/redeeming-chase-ultimate-re...

This sort of shallow, hasty dismissal of someone else's work is just the kind of comment we're hoping to convince people to pause before posting here—and then not post. Would you please not do this in the future? It's easy to convert this kind of bad comment into a good one: instead of acting like you know someone's work better than they do, post your points as respectful questions. The odds are that a hasty internet…

(I’m only responding because Dan getting involved in the conversation is equivalent to the bouncer at the bar putting his hand on your shoulder).

My target was inappropriate. The snark should have been directed at the author of the submarine PR advertisement, not the marketing executive. I believe articles like this, which are barely more than corporate press releases, are more damaging to the community than the loose language I employed.

The real problem with this piece is that it doesn’t say anything interesting about the successful CSR marketing campaign, and instead positions it as:

1) Chase REALLY listens to its customers! Isn’t that great? Especially you millennials!

2) Look at these CRAZY deals! What a bargain! You’re nuts not to get in on this!

This piece is thus uninteresting, and deserves the snark. The exec mentioned within it does not. (At least not yet — let’s see what happens with churn over the next 5 years).

Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking

#53

Post by [deleted] » Wed, Jan 03, 2018, 12:43 PM UTC

didgeoridoo wrote: post #52

dang wrote: post #30

Earlier quoted context omitted.

This sort of shallow, hasty dismissal of someone else's work is just the kind of comment we're hoping to convince people to pause before posting here—and then not post. Would you please not do this in the future? It's easy to convert this kind of bad comment into a good one: instead of acting like you know someone's work better than they do, post your points as respectful questions. The odds are that a hasty internet…

(I’m only responding because Dan getting involved in the conversation is equivalent to the bouncer at the bar putting his hand on your shoulder). My target was inappropriate. The snark should have been directed at the author of the submarine PR advertisement, not the marketing executive. I believe articles like this, which are barely more than corporate press releases, are more damaging to the community than the loos…

[deleted]

Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking

#54

Post by mehrdadn » Wed, Jan 03, 2018, 12:48 PM UTC

atupem wrote: post #51

mehrdadn wrote: post #48

Earlier quoted context omitted.

> Restaurants/travel are 3x points and transfer easily to airline partners. Have you actually done the math? 3 points/$1 and each point at an airline is generally worth around 1.5 cents, so it's equivalent to getting maybe 5% cash back at restaurants. Compare this to the Uber card where you get 4% cash back on dining. For the 1% to break even with the $450 annual fee - $150 credit = $300 net, you need to average at l…

Correct me if I'm wrong... $450 renewal fee, $300 annual travel credit, so the card costs $150 per year. With points valued at $0.015, you need to earn 10,000 points to break even (150/0.015). You get 3 points for every $1 spent on food/travel, so you need to spend $3,333/year on those categories to break even. Personally I spend way more, so the card is definitely worth it to me.

It seems you did not read the comments? You are comparing against cash. Nobody claimed cash was better. The entire discussion was in response to the comment [1] that "Chase Sapphire Reserve is easily the best card I own and I have an Amex Platinum", hence we were comparing against other credit cards (not against cash/debit/etc.), and as an example I explicitly compared CSR to the Uber card for you. Read the above discussion.

[1] https://news.ycombinator.com/item?id=16057816

Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking

#55

Post by Finnucane » Wed, Jan 03, 2018, 1:05 PM UTC

foota wrote: post #31

Finnucane wrote: post #24

It may be that I am too old for this, but when I go to the bank I do not want a 'high touch' experience. I'm reasonably certain about that. No matter how 'interactive' it is. I'd really prefer a 'no touch' experience. One where I settle for old school 'talking to the guy at the bank.'

High touch means talking to people.

Yeah, I get that. But she couldn’t just say that, could she? She had to have some dumbass business jargon.

Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking

#56

Post by matte_black » Wed, Jan 03, 2018, 2:00 PM UTC

zimbu668 wrote: post #39

noncoml wrote: post #16

Earlier quoted context omitted.

10,000 points sign up bonus. $300 towards traveling every year^. Basically they pay her/him to have the card. ^Without the ridiculous restrictions that Amex has in its equivalent perk.

Well there is a $450 annual fee, so you still need to manage your points to come out ahead.

I easily come out ahead. I max out the $300 travel credit no problem and then use a ton of points to surpass the extra $150.

Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking

#57

Post by Kihashi » Wed, Jan 03, 2018, 3:08 PM UTC

megy wrote: post #32

dang wrote: post #30

Earlier quoted context omitted.

This sort of shallow, hasty dismissal of someone else's work is just the kind of comment we're hoping to convince people to pause before posting here—and then not post. Would you please not do this in the future? It's easy to convert this kind of bad comment into a good one: instead of acting like you know someone's work better than they do, post your points as respectful questions. The odds are that a hasty internet…

These sort of cards have been around for years, specifically AMEX has been offering these deals for a long time, with lots of points and free flights every year. I can't see what is different about this card, so I think their complaint stands. This looks like a puff piece.

I've never seen a card like the CSR. It really only compares to the AmEx Platinum and Citi Prestige (although some other banks are now trying to compete). The AmEx plat has far too many restrictions to make it valuable to me (and, it seems, many others). The bonus category (5% on travel) is only for one particular airline. I have (almost) no airline loyalty. I will fly with whoever is cheapest (unless the prices are close). The travel credit is for airline incidentals with a single airline. Since I never check a bag or pay for things in flight, that is entirely useless to me. The Uber credit is also useless. I might be able to use the Uber credit-- if it weren't spread out over 12 months. The Centurion lounge access is only useful if you are regularly in places that have a Centurion lounge.

Meanwhile, for the CSR, travel (for both the category bonus and the credit) is travel. There are very few restrictions. It offers the same Global Entry credit, the same Priority Pass membership, the same primary rental car insurance, and the same rental car benefits. It also offers things like trip delay insurance that the AmEx does not. Additionally, it offers United as a transfer partner and United still has the most flights out of my airport. If one were based out of a Delta hub, the math changes since the AmEx has delta as a transfer partner and offers Delta Lounge access.

tldr: The restrictions on the AmEx make it hard to use and justify the annual fee vs a no AF card like Citi Double Cash. The CSR's lack of restrictions make it easy to get more value than the AF.

Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking

#58

Post by Kihashi » Wed, Jan 03, 2018, 3:14 PM UTC

AFNobody wrote: post #23

mabbo wrote: post #21

Earlier quoted context omitted.

> So she’s a marketing genius for selling $2300 of rewards for $450? They've done the math. They know how quickly the points will be spent (slowly). They probably have a deal that when you buy something with points, they don't have to pay the company itself for say 6 months, or maybe they get a discount on the service like 15% off. They could even decrease the value of points over time. They also know that you'll ren…

/r/Churning For some of us, taking VC/marketing money and laughing all the way to the bank is a hobby. I didn't renew my CSR or 3 other cards I had with chase. I walked away with ~$5k in benefits for ~$700. That doesn't even get into the free $$ from a bank account or the other stuff I've done in the past 12 months.

Yeah, but there are plenty of people visiting /r/churning who are renewing the CSR (myself included) and that I think is a win for Chase. Right now, the math works out to keep putting spend on the CSR (along with Freedom and Freedom Unlimited). Granted, the math is different for everyone based on their locations, spending, and travel habits, but I think we'll see a decent number of renewals.

Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking

#59

Post by mrep » Wed, Jan 03, 2018, 3:51 PM UTC

mehrdadn wrote: post #54

atupem wrote: post #51

Earlier quoted context omitted.

Correct me if I'm wrong... $450 renewal fee, $300 annual travel credit, so the card costs $150 per year. With points valued at $0.015, you need to earn 10,000 points to break even (150/0.015). You get 3 points for every $1 spent on food/travel, so you need to spend $3,333/year on those categories to break even. Personally I spend way more, so the card is definitely worth it to me.

It seems you did not read the comments? You are comparing against cash. Nobody claimed cash was better. The entire discussion was in response to the comment [1] that "Chase Sapphire Reserve is easily the best card I own and I have an Amex Platinum", hence we were comparing against other credit cards ( not against cash/debit/etc.), and as an example I explicitly compared CSR to the Uber card for you. Read the above di…

I think his math is right but that still equates to 9.5$ a day on food and travel just to break even which is a lot.

I got the uber credit card which i think is a lot better since there is no fee and it is straight cash back (point value can change any time they want).

Re: The Mastermind Behind Chase’s Sapphire Reserve Card Sets Her Sights on Banking

#60

Post by sctb » Wed, Jan 03, 2018, 4:36 PM UTC

didgeoridoo wrote: post #52

dang wrote: post #30

Earlier quoted context omitted.

This sort of shallow, hasty dismissal of someone else's work is just the kind of comment we're hoping to convince people to pause before posting here—and then not post. Would you please not do this in the future? It's easy to convert this kind of bad comment into a good one: instead of acting like you know someone's work better than they do, post your points as respectful questions. The odds are that a hasty internet…

(I’m only responding because Dan getting involved in the conversation is equivalent to the bouncer at the bar putting his hand on your shoulder). My target was inappropriate. The snark should have been directed at the author of the submarine PR advertisement, not the marketing executive. I believe articles like this, which are barely more than corporate press releases, are more damaging to the community than the loos…

> Don't be snarky.

https://news.ycombinator.com/newsguidelines.html