CSR!!!
It’s like CSI, but without the murder investigation. Folks, tomorrow is the big day! Y’all know what I’m talking about, don’t you? Chase Sapphire Reserve will hit the stores (though probably not mine). So, assuming you are not under Chase 5/24 rule, should you apply? Probably. The bonus is terrific, and you can easily make up for the annual fee of $450. So, here is what the offer boils down to:
1) Get approved, spend $4,000 in 3 months, and get 100,000 Ultimate Rewards points. You can redeem them for $1,000 in straight cash, $1,500 towards travel purchases or transfer them to a multitude of parents, including Southwest. This is super duper awesome.
2) Pay $450 upfront, but spend $300 on travel purchases this year and get it reimbursed. Spend another $300 on travel purchases next January, and get it reimbursed as well. Note that it counts towards airfare and hotels, and you should even be able to buy certain airline gift cards (Southwest usually codes those as airfare purchase). So, in exchange for $450 you’ll get $600 off travel purchases or airline gift cards. Even if you resell the latter, it will be a wash.
To recap: If you are approved for Chase Sapphire Reserve, you’ll end up with 100,000 Ultimate Rewards and zero net cost= no-brainer. There are a bunch of other nice perks, but those are just the icing on the cake. I’ll do a post later on whether it’s worth it to renew CSR.
One of my readers told me she was debating between applying for Citi Prestige and Chase Sapphire Reserve. Here is what I told her (the short version):
“If you can only sign up for one card within the next year, I would go with Chase Sapphire Reserve. The bonus is much more lucrative, no question about it. The $450 fee can be covered with $300 annual travel benefit. In fact, you’ll make money on it because you can get $300 credit again next January. All in all, it’s an extremely lucrative offer, so if you are eligible, go for it.
If you can sign up for several cards within the next year (and it won’t put you over 5/24 limit), you may want to consider Citi Prestige first. This is especially true if you’ve had Citi Thank You Premier within the last year or so. I wrote a post on the upcoming Citi changes last Saturday, which you may want to read.
The benefits on Citi Prestige will be cut severely next year, but the offer is pretty good right now. Also, keep in mind that while affiliate offer comes with 40K points, some have been able to sign up inside Citi branch and get 50K points, plus reduced $350 annual fee.”
OK, let’s say you badly want to apply for Chase Sapphire Reserve, but you are way over 5/24 limit. Is there any hope? Maybe. When the application link was accidentally released for an hour to the public few days ago, many hardcore churners were approved. Was it a fluke? Probably.
Tomorrow, I recommend you follow this Reddit sub-forum as well as Doctorofcredit. I’m certain you’ll be able to see data points right after the card’s release. I plan to wait for definitive “yes” or “no” answer, and possibly apply the following day. I really don’t want to waste an inquiry, so I’m willing to risk it even if reports are positive to begin with. What you do is up to you. This deal is incredible, so let’s hope Chase takes pity on us freeloaders.
IHG Accelerate
Not as big of a news item, but still warrants a mention. IHG has released its new Accelerate promo for fall. The stay has to occur between September 6-December 15th. Register here This is the only promo I usually cover/consider worthwhile, but it will depend on your targeted offer.
We got some good ones in my family, but I won’t be participating. My goal is to burn the points I already have before sinking my precious cash into various hotel promotions. However, your situation may be totally different. I recommend you at least check and see if it’s worth it to rearrange some of the hotel stays you’ve already booked for this fall. I’ve written quite a few posts on this type of IHG promotion, which I recommend you read if you’ve never participated in one:
The definitive guide to IHG “Into the nights” promo
Is the juice worth the squeeze on new Accelerate promo from IHG?
Short version: ROI can be terrific, IHG stinks, makes terms super confusing, sometimes changes terms without notice, save the screenshot of your offer, enjoy your points when/if you get them.
Blast from the past
My son just started kindergarten and I found this paper in his backpack:
You wanna know what I see? I see few readers who signed up for several credit cards with high minimum spending requirements, counting on their Redbird to meet them. And then Target clipped their wings. If you are a new reader, don’t worry. It was long ago and not true. Just wanted to show how messed up your brain becomes when you get into this hobby.
Have a good weekend!
Click here to view various credit cards and available sign-up bonuses
Author: Leana
Leana is the founder of Miles For Family. She enjoys beach vacations and visiting her family in Europe. Originally from Belarus, Leana resides in central Florida with her husband and two children.
Do we need to rebook our nights we have during the promo time? Or if we sign up it’ll apply the promo to our nights?
Emily, you know, I’m not sure. I looked at the terms and didn’t see the requirement to book after registration. If it were me, I would probably rebook just to be safe. Of course, I assume there is no penalty involved and the rate is the same.
I called and rebooked under the special they have to pay $10 extra and get 5,000 bonus points.On that end I’ll be earning a total of 8,000 points with the 50% back promo and another 10,000 in connection with the accelerate program. WIN WIN!!!!
Emily, excellent! Sounds like a good deal.
Nancy, I hear you! On the one hand, I’m not excited about having to spend extra $4,000 in 3 months. I just signed up for two new cards. That said, this deal is too good to pass up. If I hear good reports, I’m in!
I haven’t been this excited about a new credit card ever! I hope it doesn’t doesn’t disappoint in regards to the 5/24 rule. Good luck, everyone!