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How Chase Sapphire retained customers

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Re: How Chase Sapphire retained customers

#21

Post by forrestthewoods »

ghaff wrote: post #11
forrestthewoods wrote: post #7

Earlier quoted context omitted.

With $300 in travel refund it’s more like $250. It is worth $250 over other cards? It definitely was for me pre-2019. The points add up fast if you travel for work. It’s no longer a “great” card. But there isn’t a good competitor.

Yep. Unfortunately, I don't think I'm going to hit my $300 from travel this year. I did travel early-on but I put all that on another card for various reasons. And I normally spend 10s of Ks on travel :-/

Yup. 3% on travel w/ +50% redemption is 4.5%. If you book travel on your personal card for any reason that adds up fast.

Re: How Chase Sapphire retained customers

#22

Post by kevinkimball »

ghaff wrote: post #11
forrestthewoods wrote: post #7

Earlier quoted context omitted.

With $300 in travel refund it’s more like $250. It is worth $250 over other cards? It definitely was for me pre-2019. The points add up fast if you travel for work. It’s no longer a “great” card. But there isn’t a good competitor.

Yep. Unfortunately, I don't think I'm going to hit my $300 from travel this year. I did travel early-on but I put all that on another card for various reasons. And I normally spend 10s of Ks on travel :-/

Really? The travel category includes Airbnb, car rentals, rideshare, public transportation, parking, tolls, etc. in addition to the more obvious flights and hotels.

Re: How Chase Sapphire retained customers

#23

Post by Zaheer »

babaganoosh89 wrote: post #17

For those of you with 100k in stocks sitting around, I'd recommend the BofA Premium rewards card. You need to transfer 100k in stocks to BofA's brokerage but that'll give you a card which gives 3.5% back on dining/travel and 2.65% on everything else. It saves you way more time than juggling points, and I'm much happier after switching to a one card system.

+1 - The BofA Premium Rewards card + Cash Rewards card is all you need. The Cash Reward card allows you to select a 3% cashback category (5.25% back with Platinum tier). I have it set to Gas (choose your biggest expense). The rest goes on Premium rewards card with 2.65% back on everything.

Re: How Chase Sapphire retained customers

#24

Post by ghaff »

jhfdbkofdcho wrote: post #18
ghaff wrote: post #11

Earlier quoted context omitted.

Yep. Unfortunately, I don't think I'm going to hit my $300 from travel this year. I did travel early-on but I put all that on another card for various reasons. And I normally spend 10s of Ks on travel :-/

Through June 2021 they’re treating groceries and gas the same as travel towards the $300. Also, the rewards points can be redeemed for statement credit with the same 50% travel bonus on this “pay you back” thing against grocery and restaurant purchases

Ah. Didn't know that. Thanks.

Re: How Chase Sapphire retained customers

#25

Post by ericpauley »

kube-system wrote: post #4

I really don't see why people find it worth it to spend $550/year to get the Reserve. Sure, you get a lot of benefits, but I don't really see how they add up to $550 more in benefits over cards with $0 fee. If I want to buy $550 of airline points, I can do that without this card.

This year is a no brainier. 100 dollar statement credit and 300 travel/grocery puts the fee at 150. The effective cash back on dining is currently 4.5 percent when using the statement credit feature. There was also a doordash credit.

Re: How Chase Sapphire retained customers

#26

Post by HeavenFox »

supernova87a wrote: post #19

Here's what I remember: Basically they bribed people with the biggest frequent flier miles offer up to that point in history, lost more money Fedexing cards to customers, got worked by the credit card churning crowd for all the bonuses possible, incentivized people to visit 4 airport lounges per trip and now are struggling to keep customers as travel has fallen off the face of the Earth. So, exactly what you get when…

IIRC Sapphire Reserve was considered a loss leader to attract higher income folks to Chase so they can cross sell more lucrative banking products. You can see how they tried to cash in on the Sapphire brand with Sapphire Checking, which is basically rebranded Premier Plus checking.

Re: How Chase Sapphire retained customers

#27

Post by worker767424 »

neom wrote: post #3

I was living in Manhattan when the fancy Chase Sapphire came out. It was genuinely shocking to me how many people I knew switched to Chase just to get the new card design. To be fair, it did look and feel exponentially better than any other cards around at the time.

Remember the Amex Platinum scene in American Psycho?

Re: How Chase Sapphire retained customers

#28

Post by caminocorner »

perryh2 wrote: post #2

If you have a Chase Sapphire Reserve card, you can actually get $250 in free statement credits if you call them and ask for the retention offer to help cover the annual fee. https://thriftytraveler.com/chase-sapphire-reserve-retention...

Called and cancelled mine a few months ago, they didn't offer a retention offer that big. Oh well i no longer wanted it

Re: How Chase Sapphire retained customers

#29

Post by worker767424 »

x87678r wrote: post #14
neom wrote: post #3

I was living in Manhattan when the fancy Chase Sapphire came out. It was genuinely shocking to me how many people I knew switched to Chase just to get the new card design. To be fair, it did look and feel exponentially better than any other cards around at the time.

I'm too practical, to me a fancy expensive looking card is just a fraud magnet.

Chase cards are fraud magnets. The bin is well-known, and Chase is short on card numbers, so people have actually brute-forced credit card numbers. Then they validate them by signing up for free trials of services using credit cards.

Re: How Chase Sapphire retained customers

#30

Post by StavrosK »

babaganoosh89 wrote: post #17

For those of you with 100k in stocks sitting around, I'd recommend the BofA Premium rewards card. You need to transfer 100k in stocks to BofA's brokerage but that'll give you a card which gives 3.5% back on dining/travel and 2.65% on everything else. It saves you way more time than juggling points, and I'm much happier after switching to a one card system.

Chase will give you $2k (in cash) if you open a premium account and deposit $250k in it.
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