Category

Chase Sapphire

Chase Sapphire Preferred MasterCard & Which Cards Earn Ultimate Rewards

Judging by the amount of Reader email I get, I suspect a lot of you with the Chase Sapphire Preferred Card have quickly discovered how awesome Ultimate Rewards Points can be.

The flexibility to transfer at a 1:1 ratio to United, British Airways (for use on American), Southwest, Hyatt, Priority Club, and Marriott is truly amazing.

That being said, Ultimate Rewards Points are obviously the most valuable “currency” out there and many of you have asked if it is possible to “churn” the Chase Sapphire Preferred to get some more points.

Unfortunately from what I have read, Chase is fairly strict about churning and re-issuing Sign On Bonuses. You more than likely have to wait a good 2 years after you cancel your Card to sign up again and get the bonus.

Although that is disappointing, on the bright side, there are a whole host of other Chase Cards that do in fact earn Ultimate Rewards Points!

So if you are out of Ultimate Rewards Points or are coming near the 1 year anniversary of your Chase Sapphire Preferred Visa, I would suggest taking a look at these other Cards from Chase.

Personal Cards That Earn Ultimate Rewards Points

Chase Sapphire Preferred Visa

Link To Chase Sapphire Preferred Visa

If you signed up via FFU or any of the other blogs for a Chase Sapphire Preferred Card this past year, then this is the Card you have.

It earns 2x Points on Travel & Dining purchases, has no Foreign Transaction Fee, gets a 7% annual points dividend, and has the $95 annual fee waived for the 1st year.

For signing up, you get 40,000 Ultimate Rewards Points if you spend $3,000 on the Card in 3 months.

If you don’t have any Chase Cards that earn Ultimate Rewards, then this is the Card to get! This is the #1 Travel Card out there!

You will not be disappointed!

Chase Sapphire Preferred MasterCard

Link To Chase Sapphire Preferred Mastercard

(If above link doesn’t work, simply go to Mastercard.com and search for the Card)

While Credit Cards can have the exact same name and can be issued by the same Bank, depending on what Network the Card runs on (MasterCard, Visa, AMEX, Discover), you can re-sign up for Card and get the bonus again.

So for the Chase Sapphire Preferred, Chase has one from Visa and one from MasterCard.

If you have already had the Chase Sapphire Preferred Visa and closed it, then you can apply for the Chase Sapphire Preferred MasterCard, and you will receive the 40,000 Point Sign On Bonus again. (Hat tip to George P. on Twitter)

From what I am told by the Chase Phone Agents, you cannot have a Chase Sapphire Preferred Visa open and get approved for the MasterCard version. You have to close the Chase Sapphire Preferred Visa first.

That being said, this is an easy way to get another 40,000 UR Points!

Chase Sapphire (Not Preferred) Visa & MasterCard

Link To Chase Sapphire Visa

Link To Chase Sapphire MasterCard

I wouldn’t recommend signing up for these Cards just to get the Sign Up Bonus, because it is fairly low but this is another Card that earns Ultimate Rewards Points.

The Chase Sapphire earns 2 UR Points per $1 spent on Dining, but NOT Travel.

There is no Annual Fee on the Chase Sapphire, but you CANNOT transfer UR Points to Airlines or Hotels like you can with the Chase Sapphire Preferred.

However if you have a Chase Sapphire Preferred, Chase INK Bold, or Chase INK Plus that has that 1:1 transfer ability, then you can simply transfer your UR Points from the Chase Sapphire to either of those other Credit Card accounts for free, and then you will have the ability to transfer to Airlines & Hotels.

I currently have the Chase Sapphire Card because when the Annual Fee came due for the Chase Sapphire Preferred, I simply downgraded to the Chase Sapphire for free instead of closing my account. The Card currently sits in my drawer.

The current Sign Up Bonus for the Chase Sapphire is 10,000 Ultimate Rewards Points after $500 in Minimum Spend in 3 months.

Chase Freedom Visa & MasterCard

Link To Chase Freedom Visa

Link To Chase Freedom MasterCard

Similar to Chase Sapphire Preferred, and Chase Sapphire, the Chase Freedom comes in 2 “flavors”, Visa and MasterCard, which means you can get both bonuses.

The Chase Freedom is certainly better than the Chase Sapphire Card because of the 5x rotating quarterly categories, which can be found here.

Since the Chase Freedom earns Ultimate Rewards, if you also have a Chase Sapphire Preferred or Chase INK Bold, you can transfer your Chase Freedom UR Points into your Chase Sapphire Preferred or Chase INK Bold accounts!

So depending on the Quarter, you could potentially earn 5x UR Points on Travel, Restaurants, Amazon.com etc with the Chase Freedom and then just transfer those points to your INK or Sapphire Preferred Cards!

Also if you have a Chase Checking account and Chase Freedom, you can get an additional 10% bonus through Chase Exclusives. More information here.

Since the current Sign Up Bonus is only 10,000 UR Points for $500 in Minimum Spend in 3 months, I personally suggest downgrading to the Chase Freedom when you close your Chase Sapphire Preferred Card.

Business Cards That Earn Ultimate Rewards Points

Many frequent flyers don’t ever consider applying for Business Cards because they don’t have a traditional “business”. However by incorporating Business Cards into your Credit Card mix, you can essentially double your points haul.

So instead of 200,000 Miles & Points in a year, you could easily make that 400,000!

Most major Credit Cards have a Personal & Business version, and you can almost always apply for both.

So for example with Starwood, I previously had the SPG Personal AMEX, so I was not eligible for the last big promotion. However since Starwood has a SPG Business AMEX, I simply signed up for that one instead and got 30,000 Starpoints!

Even if you don’t have a traditional business, you can still sign up for Business Cards.

I did a whole step by step tutorial on that process here if you are interested.

You don’t even have to file any legal paperwork or different tax forms to get a Business Card, you can simply use your personal Social Security Number and say you are a Sole Proprietor. That is exactly what I did and it was extremely easy!

Any type of hobby in which you make money on the side (eBay, Etsy, blog, etc), or even a potential idea for a business, qualifies you for a Business Card.

That being said, Chase has some pretty awesome Business Cards that earn Ultimate Rewards Points!

Chase INK Bold

Link To Chase INK Bold

I am the current proud owner of a Chase INK Bold Card and let me just say it is awesome!

At one point in the last year, I had a Chase INK Bold, Chase Sapphire Preferred, and Chase Freedom, which were all earning me Ultimate Rewards Points.

The Chase INK Bold is essentially a Business Version of the Chase Sapphire Preferred, and earns 2x UR Points on Gas and Hotel purchases, however it is Charge Card.

Being a Charge Card, you have to pay it off in full every month.

Similar to the Chase Sapphire Preferred, there are no foreign transaction fees and you can transfer at a 1:1 ratio to Airlines and Hotels.

Even if you currently have a Chase Sapphire Preferred, you can get this or any other Business Card because all Banks consider Personal & Business Cards to be 2 separate things.

So it is entirely possible to sign up for the Chase Sapphire Preferred and Chase INK Bold on the same day and be approved for both.

The current Sign Up Bonus for the Chase INK Bold is 50,000 Ultimate Rewards Points after spending $5,000 in 3 months.

So if you wanted, you could apply for the Chase Sapphire Preferred and Chase INK Bold on the same day, and get 40,000 + 50,000 UR Points, and only have to spend $8,000 in 3 months!

90,000 UR Points you can transfer to United for a FREE economy ticket to Europe!

One other important thing is that the Chase INK Bold earns 5x Ultimate Rewards at Office Supplies stores like Office Depot, which if you have read Frequent Miler’s post about it, can be huge!

Chase INK Plus

Link To Chase INK Plus

The Chase INK Plus Card is identical to the Chase INK Bold except that it is a true Credit Card instead of Charge Card.

The 50,000 UR Point Sign Up Bonus and Card Features (like 1:1 transfer, etc) are identical to the Chase INK Bold.

Once my Chase INK Bold comes up for renewal, I will most likely cancel it and then apply for the Chase INK Plus to earn another easy 50,000 UR Points!

Chase INK Classic

Link To Chase INK Classic

The Chase INK Classic is basically the Business Version of the Chase Sapphire. Or in other words, it is a stripped down version of the Chase INK Bold or INK Plus.

While you still earn Ultimate Rewards at the rate of 2x on Gas & Hotels, and 5x at Office Supply stores, as well as 1x everywhere else, you do not have to ability to transfer those UR Points to Airline or Hotel Partners.

The Sign Up Bonus for the Chase INK Classic is 20,000 UR Points after you spend $3,000 in 3 months.

Unless you have already gotten a Chase INK Plus or Chase INK Bold, I’d recommend only downgrading to this Card for the 2x and 5x benefits!

Recap

Hopefully if you didn’t know about all these Chase Cards that earn Ultimate Rewards, you do now.

Given how many Cards there are that earn Ultimate Rewards (9 of them) and how valuable Ultimate Rewards Points are, at no time should you ever be without a Card that earns Ultimate Rewards!

-Parag

Don’t ever miss another FFU Update or Travel Deal!

Follow me on Facebook, Google+, TwitterRSS, Breaking Deals Text Alert, or Email!

Fake Out: Chase Sapphire Does Not Allow You To Transfer UR Points To Airlines Or Hotels

While I enjoy sharing my knowledge about frequent flyer miles and how to earn them for free, I am the first to admit that I don’t know everything.

Thankfully, FFU has some very astute Readers who caught a crucial mistake in my post from Tuesday when I talked about downgrading my Chase Sapphire Preferred to the fee-free Chase Sapphire.

Thomas left a comment:

“Isn’t there also a difference in transferring your reward points when going from the Preferred to the basic Sapphire? I thought not all of the transfers were available (such as hotels), although I could be wrong.”

Followed by Adam:

On Chase’s own site, they advertise this for the CSP card:
“1:1 point transfer to participating frequent travel programs”

…but this is conspicuously absent on their Chase Sapphire card description page:
https://creditcards.chase.com/sapphire/?CELL=6RRW&MSC=IQ35084719

…and I’m pretty sure I’ve heard from multiple sources in the past that the free card does NOT allow you to transfer points to airlines and hotels. You can only use the points in the Ultimate Rewards Center to buy gift cards, pay for travel (1 point = 1 cent), etc.

From the marketing material I have seen and read for Chase’s Ultimate Rewards program, I was under the impression that the Ultimate Rewards redemption options on the Chase Sapphire Preferred Card were the same across the board for all Chase Cards that earn Ultimate Rewards Points such as the Chase Freedom and fee-free Chase Sapphire.

I was in fact 100% wrong!

Only the Chase Sapphire Preferred and Chase INK Bold Cards allow you to transfer your hard earned UR Points to Airlines and Hotels!

Although it is extremely annoying that the fee-free Chase Sapphire doesn’t allow you to transfer UR Points to Airlines or Hotels, I grudgingly have to give credit to Chase for figuring out how to encourage their Customers to not downgrade or cancel their Sapphire Preferred Cards.

Well played Chase, well played…

Thankfully for me because I have a Chase INK Bold Card in addition to the MileagePlus Explorer, Chase Freedom, & Chase Sapphire, I can still move all my Sapphire and Freedom Ultimate Rewards Points into the INK Bold account and then transfer them to any Airline or Hotel so crisis averted. 

However I understand that most people don’t have INK Bold Cards, so now before downgrading or canceling your Sapphire Preferred, you really have to look at your options.

When your $95 Annual Fee comes due for the Chase Sapphire Preferred, you now have 3 options:

  • Pay The $95 Annual Fee – This option will ensure that you continue to have all the benefits of the Sapphire Preferred including 7% annual dividend, no foreign transaction fee, and the ability to transfer UR Points to Airlines and Hotels at 1:1 ratio. Yes this option is not favorable, however the annual fee was originally waived for the first year and you did get 50,000 or more Ultimate Rewards Points for free, so $95 isn’t a terrible price to pay. This is probably the best option if you have no immediate travel plans coming up because for $95, you will have the flexibility to hold off transferring your UR Points until you know exactly which Airline or Hotel programs you want to use them for. 
  • Empty Out Your Account – This option would be best if you know you need a certain type of miles or hotel points in the next couple months. For example if you are 100% certain that you need United miles for an upcoming trip, then you might as well transfer all your UR Points to United and then downgrade or cancel your Sapphire Preferred Card.
  • Downgrade or Cancel Without Doing Anything – This option isn’t really recommended since you are losing the ability to transfer your UR Points to any UR Airline or Hotel partners. If you do downgrade to the fee-free version of the Chase Sapphire, you will still get to keep all your UR Points, but you will only be able to redeem them for gift cards, statement credits, vacation packages, etc. This is not recommend because all those redemption offers are worth substantially less than if you transferred your UR Points to Airline Miles or Hotel Points. 

I am curious to hear from Readers what their take on this is and what they plan on doing when their Annual Fee comes due.

Are there any other options I am forgetting?

-Parag

 

Why I Love Mint.com & Downgrading The Chase Sapphire Preferred

REMINDER: The British Airways 100,000 Avios Credit Card offer ends this Thursday, June 7th.

Link To Sign Up For The British Airways 100,000 Avios Point Offer

Why I Love Mint.com

I’ve talked about the many benefits of Mint.com, but it still continues to surprise me with its usefulness.

If I had not received this email from Mint.com informing me that Chase had charged me the annual fee on my Sapphire Preferred Card, I honestly probably wouldn’t have even noticed.

I thought the annual fee on my Card wasn’t due until July or August!

For those of you not familiar with Mint.com, it is a free online money manager aka an extremely powerful online checkbook for all your checking, savings, investment, loans, 401k, credit cards accounts, etc.

Mint.com tracks all of your money in 1 place.

Whenever you get charged ATM fees, Bank service fees, or Credit Card fees, they will email you.

Mint.com is also EXTREMELY useful for tracking spending requirements.

So if you recently got any Credit Cards and have to spend X amount of dollars in a certain time period, with Mint.com you can sort by Credit Card as well as time period to see just exactly how much you have spent.

Anyways I highly suggest you sign up for Mint.com because it is 100% free and I can guarantee it will save you money by informing you of useless fees that you are being charged by your Bank!

Link To Sign Up For Mint.com

Downgrading The Chase Sapphire Preferred

After I realized that Chase had already charged the annual fee on the Chase Sapphire Preferred, I decided it was time to downgrade to the free version of the Card and get a refund on the annual fee that I had been charged.

I simply called the number on the back of my Sapphire Preferred, and explained that I had been charged the annual fee and that although I liked the Card, I could not justify paying the annual fee, therefore I would like an annual fee waiver.

Now granted I really should have called in a few months ago and tried to cancel it, so as to get transferred to a retention specialist and negotiate some bonus miles or perhaps some kind of statement credit however when I called this evening I was told they could not offer me a fee waiver.

Since I already have a Chase Freedom, INK Bold, and United MileagePlus Explorer, I decided to downgrade to the Chase Sapphire which the fee-free version of the Chase Sapphire Preferred.

It still earns 2x Ultimate Rewards points on Dining, but it only earns 1x on Travel and does have a 3% foreign transaction fee.

If you have a Chase Sapphire Preferred and are thinking about downgrading, I suggest the following:

  • Call Chase 3 months before your annual fee is due and ask to talk to a retention specialist. See if you can negotiate some bonus points or if they can give you a Statement Credit to keep the Card.
  • If you are denied, then when the annual fee is due, downgrade to the Chase Freedom since that has the awesome 5% rotating quarterly categories and has no fee.

Anyways, they said they would downgrade my Sapphire Preferred to a regular Sapphire and refund the annual fee.

Although typically when I downgrade Cards, they just go into my drawer to collect dust, I will probably continue to use the Sapphire since it does earn 2x on Restaurants.

-Parag