Friends, an unthinkable has occurred. US Bank told my husband to go pound sand. I’m shocked! Offended! He only had 10 inquiries in the last two years and 7 new credit cards added to his file. What’s not to love, right? I’m kidding, of course. US Bank saw my husband for who he truly is, thanks to me: an unprofitable customer. You are a worthy opponent, US Bank.
Image courtesy of ratch0013 at FreeDigitalPhotos.net
Until next time… Bwahahaha!
I already asked my husband to make several credit card related phone calls recently, so reconsideration rigamarole is not happening. Plus, chances of success would be slim, based on my prior experience. US Bank is pretty stingy with approvals, which is why I was shocked when they gave me Altitude Reserve card. I guess I was thinking the lightning would strike twice but alas, it was not to be. This is something I don’t take personally, because it is bank’s right to refuse to play ball. You win some, you lose some in this game, and I feel like I’ve won more than my fair share.
But it did throw a wrench in my plans. Last week I wrote about my hesitation with canceling Chase Sapphire Reserve because it offers airport lounge access. Normally, it’s not a swaying factor, but it looks like we will have a ton of flights coming up next summer, some with long layovers. I was hoping my new US Bank Altitude Reserve card would take care of this perk.
I’m still planning on canceling CSR card, though. As I’ve mentioned in my post, I have a plan B and C in mind. I could always renew my Altitude Reserve next May, which will cost me $75 after factoring in $325 travel credit. If I’m feeling extra cheap, I may cancel it and just wait till June of 2018, so I can apply for Citi Prestige. That’s when I will be eligible for the sign-up bonus since I canceled the card last May (aka “24 months” rule).
In fact, it would be the perfect time to get this offer. Even with $7,500 minimum requirement, I don’t think I will have an issue meeting the spend. We have several insurance policies that renew each June, and I’ll have a ton of extra expenses during my trip as well.
If I get denied for Citi Prestige, well, I guess we’ll somehow survive in the airport terminal, with the regular folks. I flew for many years without taking advantage of airport lounges, and am prepared to do it again. For me, it’s the destination that truly matters, though hanging out in the lounge does make the journey more bearable (see my review of Club Mobay in Jamaica). And I enjoy it even more when it’s 100% free.
There is one more option. I have Amex Hilton Honors Surpass which I plan on renewing next year anyway, due to free weekend certificate. The card lets you buy a lounge pass for $27 per person. It’s not dirt cheap, but would be worth it during a long layover or a chance to relax in an air-conditioned space, rather than humid airport terminal of Papeete, Tahiti.
Chase Sapphire Preferred?
But the biggest reason why I plan on canceling CSR is this. I hope to swing by Chase branch and see if by any chance I’m pre-approved for Chase Sapphire Preferred. I was last time, back when I applied for CSR. Since I won’t be approved online due to 5/24 rule, it’s my only hope of getting this beautiful offer. If you are a new reader, see my post on why you may want to start with Chase cards.
I don’t know the exact formula of how one is chosen to be pre-approved, but I imagine that having fewer Chase cards helps. Yes, it’s possible to just lower credit limit, but canceling CSR may increase my chances as well. Right now, I have three Chase cards. If I cancel CSR, I’ll have two. Plus, CSR and CSP cards have similar benefits. Perhaps, I will be more likely to get targeted if CSR is gone for good.
Like I said, I really don’t know the criteria, so I’m simply making assumptions. It’s possible this whole thing is moot point, or I may even hurt my chances by canceling CSR.
What about Chase Hyatt credit card?
This is yet another wrinkle. In September I was hoping to apply for new Hyatt offer that comes with 40k points+$50 statement credit. Direct link to apply I try to be conservative with Chase cards, so if I get CSP, I will have to forego Hyatt card for at least six months. Who knows, maybe by then it will become subject to 5/24 rule.
Logic dictates that CSP sign-up offer is superior to Hyatt card, and it definitely is. For one, you get 55k highly valuable Ultimate Rewards points that transfer to Hyatt and many other partners. Not to mention, there is always an option to redeem them on travel at 1.25 cents apiece.
There is one thing I really like about Hyatt card, though: annual certificate good for category 1-4 property. My husband got approved for Chase Hyatt card in June (back when it came with 2 free nights), so his certificate will hit next June. If I get approved for Hyatt card as well, we’ll have two certificates, good for a weekend getaway.
I know that I should go by Chase branch and try to get CSP if at all possible. Who knows if the pre-approval option that bypasses 5/24 rule will be around much longer. But then again, who knows how much longer Chase Hyatt card will not be subject to 5/24 rule. Plus, in all likelihood, I’ll end up transferring UR points to Hyatt anyway.
Of course, there are other options on the market, like new Synchrony Cathay card with 50k offer. But I don’t have any concrete plans for the miles, plus, CSP is far superior in every respect. I always go for flexible points if at all possible. So, I think a trip to Chase branch is in order.
Readers, what do you think? Any suggestions?
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.