Is the Chase Sapphire Reserve card worth keeping? I’ve been considering cashing out my points and cancelling the card to avoid the annual fee but I’m unsure. Help!

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Get a Chase Freedom card to transfer over the points, cancel the CSR, then reapply a few years later to get sign up bonus. Rinse and repeat.

smarthelpful

I guess my point now is if you don’t have anything to redeem for now since travel is limited, getting Freedom is an option

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I'm in the same situation. I'm planning to downgrade to the freedom flex

helpful

No, I downgraded. No impact on points, and you can reapply for the CSR/CSP and get the bonus again if you've had the card for at least (I believe the criteria is now) 48 months

It’ll lower your credit score won’t it?

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C3, no. Your line of credit will keep its original "open as of" date.

Use your travel credit and then downgrade / convert to the Freedom Flex. When did you receive the bonus on the card?

helpful

Unfortunately, you won't be able to get another Sapphire signup bonus until the 4 year mark but downgrading your card will allow you to keep your points and keep the line of credit open on your credit reports.

OP - should really consider the “net” annual fee. Eg you get like $300 in Uber / taxi / hotel / flight credit that almost everyone uses... so now it’s a $150 fee with several perks (eg Lyft pink)

Also, the redemption value of points goes up quite a bit with a reserve..... so at the very least try to use the points before downgrading

smart

S1 while you are correct, I calculated that there is an opportunity cost by not using other cards ie. Cash back. CSR is a travel card with travel benefits, unfortunately we’re just not traveling to make full use of it while missing out when we don’t use other cards.

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I love mine and wouldn’t trade it for anything. I also have a Freedom card that I put everything else on (not dinning or travel) to get 1.5%. I then transfer the points to my Sapphire. It’s paid tenfold for us, but we usually have $2-5k a month on the cards (we pay them off every month). Travel months can double or triple that.

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Switch to freedom. It’s getting great upgrades at the end of the month

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Wow just read the new perks. 3x on dining and 5x on travel if booked on chase portal!?

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Try calling in for a retention offer with your (very fair) thoughts. There are also murmurs that with the new Freedom earning multipliers the Sapphire products might get a revamp. The second bit is just rumor but try for a retention offer.

smart

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