Just Got Chase Sapphire Reserve Credit Card

[Flying Ace]

Originally Posted by hl0m4n

i only have x2 cards in my wallet: debit card + amex plat.
amex plat is my first and only card and i am a member for almost a decade now.

if i were to get the chase reserve card and cancel my amex plat, what will happen with my credit score, credit limits, etc?

my current limit on amex is $40k with an additional line of credit available.

Originally Posted by KingOfJericho

You shouldn't have a limit on your Amex Platinum at all. Also, what you should have done is use the Amex Everyday Preferred card (which is an actual credit card, not a charge card) in conjunction with your Platinum to accelerate your point accumulation. That's what I did and it rocked.

You also ALWAYS keep the credit card with the longest history. What you should do is downgrade your Platinum to a gold then open the Chase Sapphire Reserve.

Originally Posted by fecurtis

Yup, that's exactly what I do.

I think specifically on AMEX Plat, it's hard to tell how it would affect credit. Amex Plat is a charge card with credit balance features IF it is extended to you.

Best way to tell if it affects credit is to run an actual annual credit report to see if it shows up as a revolving credit account on your on report.

If it does, that means it is viewed as a credit product. And in this case, if you cancel this card, it'll have some impact. My thoughts on cancelling (again IF this card shows on the credit report and is seen as a credit account) are:

- always open up a credit line first before closing one. So you may need to open up a $40k credit limit card first before closing out this $40k limit one. (again AMEX is a charge card, the $40k isn't technically a credit limit, it's a charge limit, so it goes back to whether this is seen as a credit account or not). And $40k is an estimate, b/c it's in the technical sense of what "credit" actually means. Remember $40k is a fluctuating figure based on past spending and payment history on that card.

- if you close the AMEX, b/c it'll be your older credit account, it'll affect your FICO. FICO has a factor on average age of credit accounts. There's no counterbalance to this affect. Only possible way to deflect this is that you may have another credit card of similar age or older.

My suggestion is, you probably have a ton of AMEX MR points for all your years of spending. You've invested heavily into MR program. Don't change now, unless you deplete your MR points. Remember you need a MR card to retain all your MR points, or it'll evaporate the moment you cancel Plat, unless you've already transferred all the points out. A cheap MR retainer card is the AMEX Everyday no annual fee card.

IMO, Chase UR and AMEX MR programs are almost the same. You can achieve the same results through both program transfers. I thought long and hard about signing up for this card last night, and it's about commitment to one program. So are you ready to switch to Chase UR? Remember, if you do cancel this reserve card, you'll also need a Chase UR retainer card as well.

My thoughts on this card vs AMEX Plat, which I also have:

Originally Posted by Flying Ace

My take on this new card is:

- similar to Amex Platinum
- can get almost all of your AF back in year 1
- no value in paying AF in year 2, so have a backup plan when you do cancel
- not better than Amex Platinum in terms of airport lounge access. Plat also gets priority pass + Delta lounge + it's own Centurion lounge, the latter the best in the business.
- Amex platinum gets you gold status at rental cars and Hilton's. Basically getting you free upgrades and free breakfast.
- Amex MR points are a bit of more hassle to transfer than UR
- you can get all your AF back in year 1 on Amex, whereas you still have a $50 left over on Reserve card

[Flying Ace]

Originally Posted by BMW F22

So confused- can we use the digital card for Priority Pass or no? I called Chase Benefits and PP and they said that it's only if you buy direct through PP. Yet others have said that Chase told them we can use PP digital card.

I would contact PP regarding this. Regardless, I think you need to sign up and get your physical PP card first, which in itself is a separate process. Then you may be able to do the digital version, but that's up to PP program rules which you have to follow up with.

I rarely will use any PP lounges, so I decided to just use the card.

[KingOfJericho]

I haven't seem it mentioned here but the CSR travel credit is MUCH better than the Amex Plat because it doesn't force you to pick one airline and it works for ANYTHING flagged as travel. If I don't hit it before year-end, I'll just charge my December monthly train ticket. It's a no-brainer.

[Flying Ace]

Originally Posted by KingOfJericho

I haven't seem it mentioned here but the CSR travel credit is MUCH better than the Amex Plat because it doesn't force you to pick one airline and it works for ANYTHING flagged as travel. If I don't hit it before year-end, I'll just charge my December monthly train ticket. It's a no-brainer.

yeah agreed, especially for churners, you can get $600 back before you cancel after year 1. That itself covers the AF, everything else on top of it (PP, GE) is just gravy.

[BMW F22]

Originally Posted by Flying Ace

I would contact PP regarding this. Regardless, I think you need to sign up and get your physical PP card first, which in itself is a separate process. Then you may be able to do the digital version, but that's up to PP program rules which you have to follow up with.

I rarely will use any PP lounges, so I decided to just use the card.

I called and got the run around. since it's a new program Not everyone has the correct info. I don't care anymore as a CSR rep told me that I can pay for the access and then get reimbursed after so I will do just that in the meantime.

[Flying Ace]

Originally Posted by BMW F22

I called and got the run around. since it's a new program Not everyone has the correct info. I don't care anymore as a CSR rep told me that I can pay for the access and then get reimbursed after so I will do just that in the meantime.

What I'm getting at is, PP is the ultimate authority on this policy. So I wouldn't believe what anyone else tell you. Go directly to the source. Of course, you haven't gotten your CSR card yet, let alone you PP membership (which take a week to recieve and confirm based on my AMEX Plat experience).

[BMW F22]

Originally Posted by Flying Ace

What I'm getting at is, PP is the ultimate authority on this policy. So I wouldn't believe what anyone else tell you. Go directly to the source. Of course, you haven't gotten your CSR card yet, let alone you PP membership (which take a week to recieve and confirm based on my AMEX Plat experience).

Yeah for sure. They said 2-3 weeks which would be too late for my plans. The important thing at this point is to get the CSR card so I can put my tires purchase on there. Lol

[Flying Ace]

Originally Posted by BMW F22

Yeah for sure. They said 2-3 weeks which would be too late for my plans. The important thing at this point is to get the CSR card so I can put my tires purchase on there. Lol

yeah, sorry! I wish we could share PP, that would be awesome, then I would lend it to you.

I'm betting you're also going to miss the window on GE application too?

[BMW F22]

Originally Posted by Flying Ace

yeah, sorry! I wish we could share PP, that would be awesome, then I would lend it to you.

I'm betting you're also going to miss the window on GE application too?

Yup. Sounds like GE appointments are booked months out. Nothing I can do at this point. I will apply for it when I get the card and use GE for future trips.

[BayMoWe335]

Got it yesterday via UPS.

[BMW F22]

Originally Posted by BayMoWe335

Got it yesterday via UPS.

Curious. Did you get a box or a regular envelope? If box, what was the shipping weight of your package? Looks like they are shipping cards to those that were approved on August 23rd and shipping weight is 2 lbs.

[GotNotch]

Originally Posted by BayMoWe335

Got it yesterday via UPS.

Was this expedited shipping?

[BMW F22]

Originally Posted by GotNotch

Was this expedited shipping?

I believe all cards are being sent via expedited shipping. Got my shipment confirmation earlier today and it's with UPS Next Day Saver. Those that applied on August 21/22 got theirs Wednesday/Thursday. Aug 23rd applicants started receiving theirs yesterday, today (or at least got shipping confirmation).

[BayMoWe335]

Originally Posted by GotNotch

Was this expedited shipping?

Yes, but it still took them time since I was approved Monday.

[BMW F22]

Originally Posted by BayMoWe335

Yes, but it still took them time since I was approved Monday.

Box or envelope?

[ASAP]

So here is a slight profile of me-

Travel across the atlantic every year.
Easily would quality for that 100K points in 3 months.
Do other quarterly traveling within USA.
Want TSA Pre Check
Go out to eat quite a bit...

Is this a card for me?

[T.Stanley]

Originally Posted by ASAP

So here is a slight profile of me-

Travel across the atlantic every year.
Easily would quality for that 100K points in 3 months.
Do other quarterly traveling within USA.
Want TSA Pre Check
Go out to eat quite a bit...

Is this a card for me?

Short anwer is yes.

[Flying Ace]

Originally Posted by ASAP

So here is a slight profile of me-

Travel across the atlantic every year.
Easily would quality for that 100K points in 3 months.
Do other quarterly traveling within USA.
Want TSA Pre Check
Go out to eat quite a bit...

Is this a card for me?

[BayMoWe335]

Originally Posted by BMW F22

Box or envelope?

UPS Next Day envelope.

[BMW F22]

Originally Posted by BayMoWe335

UPS Next Day envelope.

I meant if your card came in a nice box or a regular envelope. Apparently the demand was so high that Chase started sending cards out in those regular mail envelopes instead of the nice boxes that people who applied the first few days received. Crazy demand for this new card.

[BimmerRookie]

Originally Posted by BMW F22

I meant if your card came in a nice box or a regular envelope. Apparently the demand was so high that Chase started sending cards out in those regular mail envelopes instead of the nice boxes that people who applied the first few days received. Crazy demand for this new card.

I was expecting a box, but received mine in a UPS envelope

[///F80M3]

Originally Posted by BayMoWe335

Got it yesterday via UPS.

Is it metal like CSP?