Just Got Chase Sapphire Reserve Credit Card

KingOfJericho · 08-25-2016, 10:47 AM

Quote:

Originally Posted by atxgt3

Do you know what the difference is between the JP Morgan Reserve and the Sapphire Reserve? Will Palladium card holders be converted to JPMR?

This site will help you out:

http://www.doctorofcredit.com/chase-...ces-palladium/

kprocivic · 08-25-2016, 10:52 AM

Quote:

Originally Posted by atxgt3

Do you know what the difference is between the JP Morgan Reserve and the Sapphire Reserve? Will Palladium card holders be converted to JPMR?

Nothing different i belive the color is gold for jpmorgan. No you will not be converted automatically.

I've only seen the palladium card one time in my years of banking.

atxgt3 · 08-25-2016, 10:55 AM

Quote:

Originally Posted by kprocivic

Nothing different i belive the color is gold for jpmorgan. No you will not be converted automatically.

Weird, the link in the post above says the Palladium cards will be converted to JPMR when they expire. I haven't gotten any information regarding any of that though. I just sent off an email asking about it, we'll see.

jtodd_fl · 08-25-2016, 11:14 AM

I hope the Palladium card is not metal anymore. It scratched the black off my Centurion card

Oh wait, thought this was First World Problems thread.

kprocivic · 08-25-2016, 11:29 AM

Quote:

Originally Posted by atxgt3

Weird, the link in the post above says the Palladium cards will be converted to JPMR when they expire. I haven't gotten any information regarding any of that though. I just sent off an email asking about it, we'll see.

Yea I'm sorry that's what you mean when it expires. Yea it will convert then. I thought you were referring to out of the blue.

kprocivic · 08-25-2016, 11:32 AM

Quote:

Originally Posted by jtodd_fl

I hope the Palladium card is not metal anymore. It scratched the black off my Centurion card

Oh wait, thought this was First World Problems thread.

The palladium is finished not enough ballers to warrant the high ass costs. Most people don't know but that card is actually made of palladium and gold, and the card itself is valued about 1000 bucks.

David70 · 08-25-2016, 11:56 AM

Quote:

Originally Posted by jtodd_fl

My dealership was going to let me put my entire M2 on my Amex. LOL. I cut them a break and wrote them a check instead. My CA was like... "Yeah, we do take credit cards." The finance manager was like ... "Seriously? FML."

Since they pay a fee on every credit card charge, if they are willing to accept a credit card at the same price as cash it tells me they have more money they could take off the sales price. Ask them for the 1-3% cash discount.

If people are trying to impress others with the type of credit card they have it tells me a lot about them.

shadow191 · 08-25-2016, 12:05 PM

I don't think that credit checks would count. I've always read that it's "lines of credit" which for most of us is a credit card. That's why the general consensus seems to be that if you're going to apply for a bunch of cards for the sign up bonuses, do Chase first as they're the strictest.

I've also heard that some people have managed to go to a branch and get around this rule, but it's going to depend on how good your relationship there is. Most still get denied at branches.

Quote:

Originally Posted by BimmerRookie

I believe the 5/24 "rule" isn't for credit cards. IIRC, the rule applies to your person credit checks or hard pulls. I could be wrong, but if it is for credit cards, then I think you're just under at 4/24?

Then again, I don't think its a confirmed or hard rule that Chase applies, but for the most part it looks like it could be.

BayMoWe335 · 08-25-2016, 12:17 PM

Quote:

Originally Posted by KingOfJericho

Just spoke to Chase.

-Card will be metal
-You can (and should) consolidate your Sapphire Preferred credit line and points
-Cards are shipping ASAP
-No current offers for referral bonuses

What do they mean by consolidate Sapphire Preferred credit line? I know you can move the points, but from my understanding, you can't just make your CSP "go away "by consolidating the credit line. For example, if you have $20,000 on CSP, you can't just move the $20,000 to CSR and have $0 on the CSP. If you upgrade your CSP to CSR, you will not get sign up bonus. After applying for the CSR, you need to do one of the following:

1) You can cancel your CSP all together (I wouldn't).
2) You can downgrade your CSP to a free card like Freedom Unlimited. This avoid the CSP annual fee.
3) After downgrading, you can move some of the credit line to your CSR card.

Maybe just semantics, but you need to do something with the CSP to stop paying the annual fee.

kprocivic · 08-25-2016, 12:34 PM

Quote:

Originally Posted by BayMoWe335

What do they mean by consolidate Sapphire Preferred credit line? I know you can move the points, but from my understanding, you can't just make your CSP "go away "by consolidating the credit line. For example, if you have $20,000 on CSP, you can't just move the $20,000 to CSR and have $0 on the CSP. If you upgrade your CSP to CSR, you will not get sign up bonus. After applying for the CSR, you need to do one of the following:

1) You can cancel your CSP all together (I wouldn't).
2) You can downgrade your CSP to a free card like Freedom Unlimited. This avoid the CSP annual fee.
3) After downgrading, you can move some of the credit line to your CSR card.

Maybe just semantics, but you need to do something with the CSP to stop paying the annual fee.

Exactly what he said. You can transfer your credit between cards but no it will not dissolve the prior card. Some people have transferred there csp credit limit to the reserve and closed out csp. That's what i'm doing.

Flying Ace · 08-25-2016, 12:41 PM

Quote:

Originally Posted by jtodd_fl

My dealership was going to let me put my entire M2 on my Amex. LOL. I cut them a break and wrote them a check instead. My CA was like... "Yeah, we do take credit cards." The finance manager was like ... "Seriously? FML."

last time I tried to pull that off at a BMW dealership was 2010 when I was buying my M3. I tried to put like $10k on it, and they would only allow me $3k.

Soon, I'll be buying a Porsche. I'm going to try to put about $30k-$40k on my AMEX Plat and see if that flies...lol

jtodd_fl · 08-25-2016, 12:48 PM

Quote:

Originally Posted by David70

Since they pay a fee on every credit card charge, if they are willing to accept a credit card at the same price as cash it tells me they have more money they could take off the sales price. Ask them for the 1-3% cash discount.

If people are trying to impress others with the type of credit card they have it tells me a lot about them.

I was going to, but it was the first M2 down here, so it was MSRP, plus a little. It was the "plus a little" I was able to negotiate.

Edit: and my comments about Palladium and black Centurion cards were tongue in cheek. Check your pm for dick pics if I want to impress you.

atxgt3 · 08-25-2016, 12:49 PM

Quote:

Originally Posted by jtodd_fl

I was going to, but it was the first M2 down here, so it was MSRP, plus a little. It was the "plus a little" I was a let to negotiate.

Missed out on some points then! Why didn't you just charge it?

jtodd_fl · 08-25-2016, 12:52 PM

Quote:

Originally Posted by atxgt3

Missed out on some points then! Why didn't you just charge it?

Hmmm... I don't really do the points game. I don't optimize my credit usage like I should. If I did, I probably would have financed the car and invested the cash (or so I'm told). I probably should have out it on the card. I wonder if they really would have taken it or if she would have come up with something if I really tried.

KingOfJericho · 08-25-2016, 01:37 PM

Quote:

Originally Posted by BayMoWe335

What do they mean by consolidate Sapphire Preferred credit line? I know you can move the points, but from my understanding, you can't just make your CSP "go away "by consolidating the credit line. For example, if you have $20,000 on CSP, you can't just move the $20,000 to CSR and have $0 on the CSP. If you upgrade your CSP to CSR, you will not get sign up bonus. After applying for the CSR, you need to do one of the following:

1) You can cancel your CSP all together (I wouldn't).
2) You can downgrade your CSP to a free card like Freedom Unlimited. This avoid the CSP annual fee.
3) After downgrading, you can move some of the credit line to your CSR card.

Maybe just semantics, but you need to do something with the CSP to stop paying the annual fee.

I will be canceling my CSP. I already have a Freedom card so it makes no sense to have three. I also bank with Chase. There's absolutely no point in keeping the CSP. What they suggested was to call and consolidate the CSP and CSR credit lines to one, then reduce the CL on the CSR to something normal. I opened a fresh CSR, I did not convert it (for obvious reasons).

BayMoWe335 · 08-25-2016, 02:00 PM

Quote:

Originally Posted by kprocivic

Exactly what he said. You can transfer your credit between cards but no it will not dissolve the prior card. Some people have transferred there csp credit limit to the reserve and closed out csp. That's what i'm doing.

Exactly. Before I even do that, I'm going to verify it doesn't impact the sign up bonus. Don't see what it would, but will confirm before moving anything.

BayMoWe335 · 08-25-2016, 02:04 PM

Quote:

Originally Posted by KingOfJericho

I will be canceling my CSP. I already have a Freedom card so it makes no sense to have three. I also bank with Chase. There's absolutely no point in keeping the CSP. What they suggested was to call and consolidate the CSP and CSR credit lines to one, then reduce the CL on the CSR to something normal. I opened a fresh CSR, I did not convert it (for obvious reasons).

I know it doesn't make sense to have a CSP if you have a CSR. That's the whole point in downgrading it to a Freedom Unlimited if you don't have it. It makes sense to have 3 Chase cards, to be honest.

1) Freedom Card - Gets 5% in bonus categories.
2) Freedom Unlimited - Gets 1.5% on everything.
3) Sapphire Reserve - Gets 3% on Dining/Travel

All points can be transferred to the CSR.

I wouldn't reduce CL...no reason to. If you have $100k in credit total, I'd just move it around the cards you're keeping.

BimmerRookie · 08-25-2016, 02:07 PM

Quote:

Originally Posted by BayMoWe335

I know it doesn't make sense to have a CSP if you have a CSR. That's the whole point in downgrading it to a Freedom Unlimited if you don't have it. It makes sense to have 3 Chase cards, to be honest.

1) Freedom Card - Gets 5% in bonus categories.
2) Freedom Unlimited - Gets 1.5% on everything.
3) Sapphire Reserve - Gets 3% on Dining/Travel

All points can be transferred to the CSR.

I wouldn't reduce CL...no reason to. If you have $100k in credit total, I'd just move it around the cards you're keeping.

I asked about this in a branch location and was told not all point transfers from card to card is 1:1. I believe freedom + freedom unlimited is a 1.5:1

KingOfJericho · 08-25-2016, 02:23 PM

Quote:

Originally Posted by BimmerRookie

I asked about this in a branch location and was told not all point transfers from card to card is 1:1. I believe freedom + freedom unlimited is a 1.5:1

Absolutely untrue.

KingOfJericho · 08-25-2016, 02:27 PM

Quote:

Originally Posted by BayMoWe335

I know it doesn't make sense to have a CSP if you have a CSR. That's the whole point in downgrading it to a Freedom Unlimited if you don't have it. It makes sense to have 3 Chase cards, to be honest.

1) Freedom Card - Gets 5% in bonus categories.
2) Freedom Unlimited - Gets 1.5% on everything.
3) Sapphire Reserve - Gets 3% on Dining/Travel

All points can be transferred to the CSR.

I wouldn't reduce CL...no reason to. If you have $100k in credit total, I'd just move it around the cards you're keeping.

I use my Amex Everyday Preferred card for those purchases. I get 4.5x on groceries, 3x at gas stations, and 1.5x on everything else. The only reason I keep the Freedom card is because it has the longest history.

Flying Ace · 08-25-2016, 02:32 PM

Quote:

Originally Posted by BayMoWe335

I know it doesn't make sense to have a CSP if you have a CSR. That's the whole point in downgrading it to a Freedom Unlimited if you don't have it. It makes sense to have 3 Chase cards, to be honest.

1) Freedom Card - Gets 5% in bonus categories.
2) Freedom Unlimited - Gets 1.5% on everything.
3) Sapphire Reserve - Gets 3% on Dining/Travel

All points can be transferred to the CSR.

I wouldn't reduce CL...no reason to. If you have $100k in credit total, I'd just move it around the cards you're keeping.

IMO, Freedom Unlimited is redundant here. 1.5% is not the best no AF card on the market (Citi 2% is). I would only hold Freedom as the sole no AF Chase UR card to retain the program points. You don't want the Freedom Unlimited to take up a slot on your 5/24.

BimmerRookie · 08-25-2016, 02:48 PM

Quote:

Originally Posted by KingOfJericho

Absolutely untrue.

Interesting. Why would she tell me that?

08-25-2016, 11:14 AM	#136
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